Reports said that Egypt does not have only two only to produce gold fully operational, two (mine diabetes) and (mine Hamash) in South eastern desert.
As there were more than 120 untapped gold mines, and attributed to poor physical and human resources, as well as to stop mines (Jebel uweinat) in Western Sahara for production and not attempt to the authorities of the Ministry of oil exploitation.
Diabetes mine
A large gold mine located in the mountain area of diabetes in the Nubian desert, part of the eastern desert, located 30 km south of Morsi science in the Red Sea.
And by “Diabetes”, a joint venture between the mineral resources of the Ministry of petroleum and mineral resources, a private company called sentamin Egypt “owned by Egyptian businessman.
And extract gold from the mine in the era of the Pharaohs, and stop the exploitation of the mine in the 1950s for lack of economic viability of low concentration of gold, with a higher gold price in the 1990s decided to exploit the mine in 1994, was resumed in 2008.
As the volume of investment in the mine about 310 million u.s. dollars was disbursed 70% in development business and assessments indicate that the gold concentration increases with depth and thus increased from 7 million ounces to about 13 million ounces at the beginning of 2008,
In 2008, the estimated gold reserves at the mine about 10 million ounces.
As the Chairman of the Board of Directors of the company «diabetes» Egypt balance of gold reserves in the mines in the eastern desert rose to 14.5 million ounces, referring to what until now has been extracted from the mine at 13 tons during the two years since the commencement of commercial production starting in 2010.
In 2004 the Government signed a contract for the exploration and extraction of gold from the gold mine in the mountain. The agreement stated that “sentamin Egypt” represents one of the Egyptians who hold Australian citizenship on 50% of the gold extracted, you get Egypt to 50%. The company has estimated its share of 25 million ounces to increase over the course of 20 years, the price of $ 2000 an ounce, so the value of gold extracted from the mine is expected to reach $ 50 billion, and the Australian company gets $ 25 billion.
Diabetes mine Director said one shareholders in pharaonic gold mines that Egypt get a total of 3% of the net sales of gold and other metals to mine, where the company is exempt from all types of taxes up to 2030, with a line indicating that once he recovers the cost of its investment company sentamin Egypt, they will split the profits from the mine evenly with the Egyptian Government.
Repudiated statements to the contract signed between the two sides. It was supposed to – since January – the State 50 percent of gold production, while not announcing whether you get already.
He said the joint venture between the Egyptian Government and the «sentamin» company is the fourth and last phase compositions of the project to be double annual production to between 20 and 25 tonnes of gold, noting that so far have been spent up to $ 450 million to build refineries, tunnels and residential city, the Egyptian Government did not pay any part of those costs, adding that the project has become a huge industrial edifice put Egypt on a map of precious metals in the world.
On causes of export production abroad, said one of the workers that the company offered to sell the World Gold production at the Central Bank but he apologized and allowed the sale of production in the global market after purified in a laboratory accredited to Canada to level up to 99.99 percent purity.
And hesitating on that shaft amounts of undeclared gold, the President of company operations that “the Egyptian Government is involved in the management of the entire project and not true what rumors in this regard. The production process is fully transparent and under the supervision of the 3 bodies is mineral wealth and the interest of stamp duty and weights and customs, and the full company accounts are subject to control by the CAA, noting that the Central Bank is selling gold transfers in world stock and ensures full access to Egypt.
Mine Hamash
The mine is located about 100 km west of Morsi aware of Western Sahara, and ownership of the mine due to the company’s gold mines, Hamash, a joint body of mineral wealth and the Cyprus and owned by investors Matz Sudanese and their Swiss partner. Headed by geologist Jason representing the Ministry of petroleum and mineral resources.
As is reclaimed gold mine in a heap spray Hamash based collection of gold-containing rocks and erosion, and placed on a large piles are then sprayed with a solution of chemicals extracted gold from boulders are then compiled this solution of gold and the gold is separated mechanically and alternator and need this way for a period of time sufficient to make the solution draws the most gold in the rocks.
And was signed to produce plumber gold mine Hamash in 1999, it was announced on opening new areas for investment from eight regions are regions or country Valley droplet and aboumrowat and meeting he reviewed collection rates and Valley cream and denkash and sink and uweinat, except the uweinat, all these regions have certain evidence of the existence of gold where the ancient Pharaohs and some companies in the nineteenth and twentieth century work to extract the gold from them in time.
Gold mines in Egypt
The company (Hamash Egypt) for gold mines in the exploitation of the mine works in the franchise in the eastern desert, about 160 km southwest of Morsi, has successfully produced the first experimental alloy in April 2007 and is the first alloy produced from Egyptian mine after 50 years. In November 2008 the first ingot weighing 6.5 kg.
It also works in the company of many engineers, geologists, all Egyptian labour to manufacture all production requirements within Egypt.
And the total gold output of smelting and casting of gold-bearing deposits and the resulting from the electrolysis process since the beginning of commercial production until February 2010 around 65 kg of gold.
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