Local jewelry and bullion appetite drops by 17% in Q1 2024, World Gold Council

Wed, 01 May 2024 - 04:43 GMT

Demand for jewelry and bullion in Egypt experienced a significant decline of 17 percent during the first quarter of 2024, falling to 13.2 tons from the 15.8 tons recorded in Q1 2023

Egypt's customs duty-free imports of gold reach 4.6 tons

Sun, 28 Apr 2024 - 01:31 GMT

This announcement came after the government's decision in May 2023 to exempt customs taxes and other fees on imports of gold in semi-finished forms, specifically those intended for monetary circulation, jewelry, and precious metal components.

World Gold Council confident in Egyptian gold market as a significant regional market

Tue, 23 Apr 2024 - 04:50 GMT

Highlighting the exceptional quality and esteemed reputation of Egyptian gold artifacts, Naylor stressed on increasing collaborative efforts aimed at bolstering the Egyptian market and exchanging expertise to enhance its standing

Egypt receives 4 offers to explore for gold near Sukari mine

Tue, 12 Mar 2024 - 02:58 GMT

Egypt is actively seeking to boost investments in its mining sector, with a specific focus on gold. The country aims to invest one billion dollars in the mining sector by 2030.

Egypt, Geotech sign agreement for gold exploration using helicopter-borne aircraft

Thu, 22 Feb 2024 - 04:22 GMT

The project will utilize one of the working models in the company's AS350 aircraft fleet, employing "HELICOPTER-BORNE MAGNETICS (STINGER) and RADIOMETRIC" technology.

Shalateen Mineral Resources Company increases gold deposits to CBE by 14%

Sun, 18 Feb 2024 - 04:21 GMT

The company announced that it will deliver a ton of gold with a purity of 99.9 percent by the end of this year

Egyptian travelers bring over 3.8 tons of customs-free gold to Egypt in 8 months

Mon, 22 Jan 2024 - 03:00 GMT

This came in line with Cabinet decisions, which exempted travelers from paying customs duties and other associated charges, excluding the value-added tax (VAT). The cabinet gave its approval in May to a proposal that introduced an exemption for individuals who bring gold into the country

Gold prices record historic highs: Understanding Egypt’s gold prices rollercoaster

Thu, 04 Jan 2024 - 02:03 GMT

The price of gold increased by almost 13.1 percent during 2023 and recorded its highest historical level last December 3 for $2,146.79 for an ounce, according to American Bullion

AHK Gold Company initiates drilling operations in Egypt's Wadi Dabur region

Thu, 07 Dec 2023 - 12:37 GMT

Egyptian businessman, Naguib Sawiris announced, through a tweet on X, that the initial drilling aims to cover 10,000 meters within two months, with the potential for expansion based on anticipated results.

Egypt launches its first gold bar ATM machine

Sun, 26 Nov 2023 - 04:11 GMT

Al Moselhi revealed that the government is actively working towards positioning Egypt as a prominent exporter of gold to Gulf countries, Italy, and Africa.

EMRA, Canadian Lotus to explore gold with investments of $2.5M

Sun, 26 Nov 2023 - 01:34 GMT

Lotus Gold Corporation won two rounds of a gold exploration tender conducted by EMRA in 2020 and 2021 for exploration concessions

Egypt’s gold, jewelry exports decrease 4% in first 9M of 2023

Wed, 22 Nov 2023 - 03:15 GMT

The United Arab Emirates (UAE) ranked first as the largest importer of gold, precious stones and jewelry from Egypt with imports worth $534M

Inaugural e-auction for gold and silver bars to be held next week, AWA head

Wed, 08 Nov 2023 - 03:03 GMT

The auction is within the government’s overall goal to diversify the ways gold is available to the public, Farag explained

CBE gold reserves drop 2.8 percent, assets decline to LE 4.62trn

Mon, 30 Oct 2023 - 04:43 GMT

Egypt’s current gold production is placed at around 15.8 tons annually

Sukari Gold Mine records 8% increase in production during H1 of 2023

Wed, 26 Jul 2023 - 03:05 GMT

The company's gold production from Sukari Gold Mine during the first half of 2023 reached 220.6 thousand ounces, compared to 203.9 thousand ounces during the same period of 2022.

Egyptian expats brought in 194 Kg of gold 1 month into tariff exemption

Mon, 12 Jun 2023 - 02:14 GMT

Most of the quantity was brought in by expats residing abroad, mainly in Gulf countries.

International reserves jump to $34.66 billion in May 2023, CBE

Tue, 06 Jun 2023 - 02:59 GMT

Egypt’s net international reserves continue to recover after hitting its lowest recording in August 2022 at $33.14 billion, falling from $40.9 billion in February 2022

The FRA officially launches the first investment fund in gold

Mon, 15 May 2023 - 08:34 GMT

The FRA issued all regulatory and legislative decisions and controls to regulate the dealings of investment funds in minerals.

Demand for gold in Egypt 'doubled' in Q1 2023: World Gold Council

Fri, 12 May 2023 - 12:43 GMT

The report revealed that demand for buying bars and gold pounds in Egypt doubled to 7 tons in the first quarter of this year.

Cabinet approves exempting gold carried by Egyptians coming from abroad from custom duties for 6 months

Wed, 10 May 2023 - 08:35 GMT

The Cabinet approved on Wednesday a draft decision to exempt semi-wrought gold carried by Egyptians coming from abroad from custom duties and other applicable fees, except Value Added Tax (VAT), for six months.