Egypt’s First Fully State-Owned Gold Mine Marks the Beginning of a New Era in Mining

In the heart of Egypt’s Eastern Desert, hundreds of kilometers away from the bustling cities, a new chapter in the country’s journey toward full sovereignty over its natural resources is unfolding.

Egypt’s First Fully State-Owned Gold Mine

In the areas of “Hangaleya” and “Umm Oud” near Marsa Alam, Shalateen Mineral Resources Company has launched the first-of-its-kind gold mining project—100% Egyptian-financed and managed.

The project was initially launched by Dr. Sherif El-Shehawi, the company’s former chairman, and is now being led by Dr. Hani Mostafa, the current chairman, in collaboration with Dr. Abdel Meguid Mohamed, Vice Chairman and Managing Director, with strong support from the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority.

This initiative reflects the state’s commitment to empowering national expertise and enhancing the role of Egyptian talent in managing and operating gold mines with purely local hands.

For the first time in decades, Egyptian teams—without any foreign partnership—are leading the exploration, drilling, and production operations of a fully state-owned gold mine.

 This achievement sends a clear message: Egypt is regaining control over its mineral wealth and turning the mining sector into a primary engine for economic growth and sustainable development.

According to high-level sources at the Ministry of Petroleum and Mineral Resources, Shalateen Mineral Resources Company has launched an ambitious exploration program in the Hangaleyah and Umm Oud areas, relying entirely on national teams and internal funding.

This pioneering experiment marks a new era in natural resource management—independent of foreign capital pressures or conventional partnership agreements.

Observers consider this step an unprecedented leap for Egypt’s mining sector.

The state is expected to complete the gold reserve assessments in the two regions and begin actual production soon, amid promising geological indicators that suggest the mine could rank among the world’s top in terms of quality and extractable quantities.

The selection of Hangaleyah and Umm Oud is far from coincidental. These areas are among the oldest on Earth known for gold extraction since the Pharaonic era. For decades, they remained largely untapped.

 Recent studies confirm the presence of rich gold mineralization, prompting Shalateen to intensify drilling and expand detailed studies in hopes of uncovering new reserves to strengthen the country’s strategic gold stockpile.

What distinguishes this new Egyptian experience is the focus on localizing technology and transferring geological knowledge to young engineers, geologists, and technicians. It also creates quality job opportunities in a geographically rugged region, while channeling the resulting financial surpluses into other developmental projects.

This transformation would not have been possible without the sweeping reforms enacted by the state in recent years, particularly those involving mining laws, streamlined procedures, and open access to geological data. These reforms have attracted four of the world’s largest mining companies—AngloGold Ashanti, Ank Resources, Lotus Gold, and Akh Gold—who are now racing to discover new gold reserves in their awarded concessions in the Marsa Alam region.

In parallel, the Ministry of Petroleum and Mineral Resources is preparing to launch a new international bid in July to explore gold and other high-value mineral ores.

This move reflects growing confidence in Egypt’s geological potential and solidifies its position as a preferred destination for mining investments, thanks to its robust infrastructure, procedural transparency, and clear development plans.