In an Arab country … awaited to announce the largest gold exploration

The Egyptian Ministry of Petroleum revealed great progress in geological studies to confirm new precautions of gold and accompanying minerals in the west of Jabal Alba within the Halayeb and Shalateen Triangle in southeastern Egypt.

The Egyptian Ministry of Petroleum and Mineral Resources indicated that it is possible that the estimated reserves in that region exceed 300 thousand ounces of gold, in preparation for the announcement of a new trade statement that enhances Egypt’s position as a promising investment destination in the mining sector. This discovery is part of Egypt’s strategy to enhance the mining sector, as the country seeks to attract foreign investments of up to 375 million dollars during the next two years, with expectations Direct investments to one billion dollars by 2030. The Jabal Jaba area is part of the Naaba Reserve and is one of the largest and most important natural reserves in Egypt, with a total area of ​​35,600 square kilometers, and the reserve extends in the southeastern corner of the country, within the Halayeb and Shalateen triangle, which is a region rich in biological diversity and natural resources. The region is known for its rugged mountainous terrain and the presence of prominent metal deposits, which It makes it a major target of gold and other mineral exploration activities, as this region is part of the Egyptian Eastern Desert, which has witnessed in recent years important discoveries such as the discovery of a mine in 2020, which contains reserves estimated at about 1.3 million ounces of gold, with investments exceeding 300 million dollars so far. It is expected that this discovery will contribute to strengthening the Egyptian economy by increasing exports and providing new job opportunities, as it comes within the framework of efforts The Egyptian government to modernize the mining sector, after legislative amendments in 2020 to facilitate attracting foreign investors, such as canceling the condition of establishing joint companies with the government and determining royalties by a rate not exceeding 20%, and Egypt launched global tenders to explore gold in the Eastern Desert, which included areas of up to 56,000 square kilometers. (Russia today)