Egypt Announces Strategic Gold Extraction Project26 May 2024 22:19
Egypt Announces *Strategic Gold Extraction Project in Aswan with an Investment of 350 Million EGP
May 26, 2024
In a move that reflects the Egyptian government’s commitment to accelerating industrial development and *enhancing integration among companies in key economic sectors, Shalateen Mineral Wealth Company, under the leadership of geologist Sherif El-Shahawi, has signed a contract with Gas Egypt, headed by engineer Wael Goweid, to establish a major industrial complex for gold extraction tailored for artisanal mining in the Dahmit area of Aswan Governorate
The event was attended by Dr. Abdul Majid Mohammed, Vice President of Shalateen Company, alongside several senior leaders of Gas Egypt, clearly indicating the importance the state places on this project
The contract, valued at over 100 million EGP, represents one of the strategic steps to develop the industry and mineral wealth in Egypt, as the new complex is among the ambitious projects the government seeks to achieve within its comprehensive sustainable development plan
This partnership reaffirms the state’s approach to encouraging cooperation between various public and private companies to achieve economic and social development goals, highlighting efforts to achieve industrial integration and stimulate investment in less developed areas, thereby ensuring a fair distribution of resources and opportunities across the republic
https://elbarima.com/egypt-announces-strategic-gold-extraction-project-in-aswan-with-an-investment-of-350-million-egp/
------------------------------->>>>
my thoughts :
Carefully note the Egyptian govt's choice of words in this public announcement:
"enhancing integration among companies in key economic sectors"
&
"strategic gold extraction project"
integration & strategic = national goals = control the domestic gold supply
this has been the motive behind a) running up the past due tab between Centamin & the CBE
b) demanding $100 million from Centamin in lost govt revenue thru ongoing audits
the writing is on the wall, sell