Vice President of Sukari Company: We Produce Half a Million Ounces of Gold Exported to Switzerland, and Its Value Is Deposited in Dollars in Egypt - Al-Shorouk Gate
Vice President of Sukari Company announces production of half a million ounces of gold and export to Switzerland with dollar revenues for Egypt.
SUMMARY
The Vice President of Sukari Gold Company announces that the mine is approaching production of half a million ounces of gold, with the gold exported to Switzerland and dollar revenues returning to Egypt. The mine's exports represent 3% of Egypt's total exports, and Egypt aims to increase the mining sector's contribution to GDP.
KEY HIGHLIGHTS
- The mine is on track to produce half a million ounces of gold.
- Extracted gold is sent to Switzerland, and its full value returns to Egypt in dollars.
- Exports from the Sukari mine represent 3% of Egypt's total exports.
- Egypt aims to raise the mining sector's contribution to GDP from 1% to 6%.
CORE SUBJECT
Gold production and export from the Sukari mine
Engineer Hoda Mansour, representative of AngloGold Ashanti and Vice Chairman of the Board of Sukari Gold Company, stated that the mine is on track to produce half a million ounces, noting that this places the project among the world's major gold mines.
She pointed out during an interview on the program "Ala Mas'ouliyati" broadcast on Sada El Balad TV from inside the Sukari mine on Sunday evening, that the extracted gold is sent to Switzerland, with its full value returning to Egypt in the form of dollar revenues deposited in Egyptian banks.
In response to a question about not retaining the gold to strengthen the central bank's reserves, she confirmed that the system requires obtaining dollar revenues in exchange for the gold, emphasizing that "not a single dollar leaves Egypt."
She revealed that exports from the Sukari mine alone represent 3% of Egypt's total exports, explaining that the value of exports since the beginning of this year until now has exceeded 1.5 billion dollars by the end of the year.
She stressed that Egypt is a "very promising" country in the mining sector, noting that the vision of the Ministry of Petroleum and Mineral Resources aims to raise the mining sector's contribution to the GDP from the current 1% to 6%.
KEYWORDS
MENTIONED ENTITIES 5
Hoda Mansour
👤 Person_FemaleRepresentative of AngloGold Ashanti and Vice Chairman of the Board of Sukari Gold Company
Sukari Gold Company
🏛️ OrganizationGold mining company managing the Sukari mine
AngloGold Ashanti
🏛️ OrganizationInternational mining company
Ministry of Petroleum and Mineral Resources
🏛️ OrganizationEgyptian government ministry responsible for the petroleum and mining sectors
Switzerland
📍 Location_CountryCountry to which the extracted gold from the Sukari mine is sent