CAIRO, Jan 18 (MENA) – Prime Minister Mostafa Madbouly said the government is working to maximize the added value of gold within the local market and transform Egypt from a raw gold exporter into an industrial hub.
Madbouly made the remarks as he chaired on Sunday the first meeting of the Supreme Committee for Gold, formed by a presidential decree earlier this month.
The prime minister said the government aims to increase gold discoveries while improving governance of the sector.
The committee will develop a comprehensive strategy covering all stages of the gold value chain, including extraction, refining, manufacturing and trading, alongside relevant legislation and policies, Cabinet Spokesperson Mohamed al-Homosany said.
The meeting reviewed plans to establish a national gold refinery that would meet international standards, serve neighboring countries, boost Egypt’s gold reserves, curb illegal trading and strengthen mining value chains, the spokesperson added.
Several potential locations for the refinery project were discussed, with coordination underway to accelerate implementation, he noted. (MENA)
