Egyptian businessman Mohamed El Garhi, through his company Deep Metals—where he holds a 47.5 % stake, alongside Sudanese partners Omar El Nimir and Mubarak Ardol—has acquired an 85 % ownership of the Arcadia gold mine in Sudan. The agreement includes construction of a tailings processing facility and a gold refinery, with a total projected investment of USD 277.3 million, under a “major gold sector investment agreement” with Sudan’s Ministry of Minerals, represented by Minister Nour El Daim Mohamed Ahmed Taha.
The agreement also covers exploration and production efforts across three major mining concession blocks and one small-scale mine in Northern, Red Sea, River Nile, and Gedaref states. The Sudanese government has pledged to support administrative, technical, and legal wrangling, coordinating with various parties to facilitate the project’s launch. Deep Metals will also integrate localized development initiatives as part of its corporate social responsibility (CSR) efforts.
