Egypt’s mining scene is glittering again. Afaq Mining Company is set to announce a major gold discovery this week in the West Gebel Elba region near Shalateen, southeastern Egypt — a rugged corner of the Eastern Desert long whispered about by geologists. The find, boasting an initial reserve of around 200,000 ounces, could kick off the country’s next gold rush.
According to sources quoted by Asharq Bloomberg, Afaq has already poured $20 million into exploration, drilling, and surveys. The company will now submit its commercial discovery study to Egypt’s Mineral Resources Authority, which has 60 working days to review it. Once approved, Afaq will form a joint venture with Shalateen Mineral Resources Co., paving the way for mine development.
Industry analysts call the find a breakthrough for Egypt’s maturing mining industry. “It’s a milestone moment — proof that systematic exploration in the Eastern Desert is paying off,” says Dr. Helena Wu, a mining analyst who follows North African projects.
The discovery fits Egypt’s strategy to expand its mining sector beyond oil and gas. Officials say such projects will help boost exports, create jobs, and put the Eastern Desert back on the global gold map. If the numbers hold, Afaq’s find could become one of Egypt’s biggest modern gold discoveries — and a shining sign that the country’s mining renaissance is just beginning.
