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Egypt announces new gold discovery

07:30 PM | 30 Jun, 2020
Egypt announces new gold discovery

CAIRO – The Egyptian Ministry of Petroleum and Mineral Resources announced on Tuesday a new commercial gold discovery in the Eastern Desert.

"The reserve of the mine is estimated at more than one million ounces of gold and it is aimed to lure above one billion U.S. Dollars in the next ten years," the ministry said in the statement.

Located in the concession area of Shalateen Mineral Resources Company, the new discovery is part of the oil ministry's 2018-2021 program for developing and modernizing the mineral sector and increasing its contribution to the country's national income, it said.

The statement added that the mineral sector is expected to hit 375 million dollars in the coming two years and it is expected to increase the direct investments in the gold sector to one billion dollars by 2030.

Egypt is ranked 6th among Arab countries in gold holdings with 77.4 tonnes, most of which is located at the Arabian-Nubian Shield in the southern part of the country.

Egypt's gold production is concentrated in three sites in the Eastern Desert. Centamin-owned Sukari mine is the only gold producing mine currently.

Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency

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Today Open Market Currency Rates - Pak Rupee to US Dollar, Euro, Pound, Riyal - 23 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 23, 2024 (Saturday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.7 for buying and 280.85 for selling.

Euro's buying rate stands at 294.3 and selling rate is 297.9 while British Pound rate is 352 for buying, and 355.5 for selling.

UAE Dirham AED was at 75 and Saudi Riyal at 72.85.

Currency Rates in Pakistan

Currency Symbol Buying Selling
US Dollar USD 277.7 280.85
Euro EUR 294.3 297.9
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 75 75.8
Saudi Riyal SAR 72.85 73.6
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.98 748.98
Canadian Dollar CAD 202 204
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.15 40.55
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 908.7 917.7
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.75 731.75
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.21 317.71
Thai Bhat THB 7.59 7.74

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