The Egyptian Ministry of Petroleum and Mineral Resources intends to soon announce a new commercial gold discovery in the area West of Gebel Elba, located within the Halayeb and Shalateen Triangle, following tangible progress in ongoing geological studies.<\/p>\n\n\n\n
This comes days after the Sudanese Army Commander-in-Chief, Abdel Fattah Al-Burhan ceded the Halayeb and Shalateen Triangle to Egypt. A French report confirmed that the ongoing discussions regarding Saudi-Sudanese negotiations concerning the demarcation of the maritime border between both States will not come at the expense of Egypt and its interests related to the Halayeb, Shalateen, and Abu Ramad Triangle. As any agreement between the two parties will directly impact the starting points of the maritime border, the distribution of the continental shelf and natural resources, in addition to impacting control over vital sea lanes in the Red Sea.<\/p>\n\n\n\n
The French website “Riso International” quoted a source as saying that Egypt put forth efforts to ensure its national interests. For a meeting was held between President Abdel Fattah el-Sisi and Sudanese Army Commander-in-Chief, Abdel Fattah al-Burhan, where it was concluded that the HalayebTriangle would be within the borders of the Arab Republic of Egypt.<\/p>\n\n\n\n
According to an official statement, initial estimates indicate that the discovered reserve could exceed (300,000 ounces) of gold, paving the way for the establishment of a new mine in the area. This work is being carried out in cooperation with Afak Mining Company, which is currently conducting accurate analyses to determine recovery rates and the feasibility of commercial operation.<\/p>\n\n\n\n
Moreover, the Egyptian government seeks to attract ($375 million) in foreign investment over the next two years, with direct investment expected to rise to ($1 billion) by (2030).<\/p>\n\n\n\n
The discovery site is located within the Gebel Elba Nature Reserve, one of the largest reserves in Egypt, covering an area of \u200b\u200b(35,600 square kilometers). It features mountainous terrain rich in mineral deposits, within the Arabian-Nubian Shield (ANS), which extends across the Eastern Desert to northern Sudan.<\/p>\n\n\n\n
This aforementioned discovery comes in the context of a series of significant discoveries in the Eastern Desert, most notably of which is the Iqat Mine, announced in (2020), which contains reserves estimated at (1.3 million ounces) of gold, with investments exceeding ($300 million) to date.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Egyptian Ministry of Petroleum and Mineral Resources intends to soon announce a new commercial gold discovery in the area West of Gebel Elba, located within the Halayeb and Shalateen Triangle, following tangible progress in ongoing geological studies. This comes days after the Sudanese Army Commander-in-Chief, Abdel Fattah Al-Burhan ceded the Halayeb and Shalateen Triangle to Egypt. A French report confirmed that the …<\/p>\n","protected":false},"author":8,"featured_media":161621,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-162002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n