Arab Finance: Shalateen Mineral Resources has increased its gold deliveries to the Central Bank of Egypt (CBE) by approximately 23% year on year in the first half (H1) of the year, an unnamed government official told Asharq Business.
The company delivered over 400 kilograms of gold valued at about EGP 1.6 billion to the CBE.
This is an increase from 330 kilograms delivered during the same period last year.
In 2023, Shalateen Mineral Resources delivered approximately 720 kilograms of gold to the CBE.
Established in 2012, Shalatin Mineral Resources Company is 35% owned by the Egyptian Mineral Resources Authority (EMRA). The National Service Projects Agency of the Egyptian Ministry of Defense holds 34% and the National Investment Bank (NIB) owns 24%.