Mineral Wealth Law, terms of gold exploring do not attract investors

At the end of the day, Al Sokari gold mine is the one and only productive gold mine in Egypt due to several challenges that postponed any attempt to benefit from Egypt’s wealth of gold burried in the eastern desert.

Daily News Egypt discussing these challenges with Youssef EL-Raghy, the general manager of Pharaoh Gold Mines which owns Centamin Company that has the rights to explore and extract gold in Al Sokari concession.

In this exclusive interview EL-Raghy expressed his optimism about gold mining industry in Egypt, but, it requires amending the system of exploring gold ore and its terms. He asserted that the companies which won the right to explore gold in the last gold tender have no background about the mining industry anymore bar one.