Arab Finance: Shalateen Mineral Resources Company (SMRC) raised its gold deliveries to the Central Bank of Egypt (CBE) in 2023 by about 14% year on year (YoY) to around 720 kilograms (kg) at a value of EGP 1.3 billion, a government official told Asharq Business.

Moreover, the official pointed out that the firm targets raising its deliveries of 99.9%-pure gold to the CBE by 40% year on year to a ton by the end of 2024.

In July 2023, the company expected an increase in its gold deliveries to the CBE by 32% YoY to reach 830 kg, as announced by its Chairman Sherif El Shahawy.

On February 13^th, it was reported that SMRC was likely to deliver 550 kg of gold to the CBE by the first half (H1) of 2024.

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