Egypt’s Ministry of Petroleum and Mineral Resources has announced a major geological breakthrough in the Halayeb and Shalateen Triangle, with early studies confirming estimated gold reserves exceeding 300,000 ounces in the west Elba Mountain area. The news marks a potential commercial gold discovery poised to significantly boost Egypt’s growing mining sector and foreign investment appeal.
The announcement underscores Egypt’s accelerating push to modernize its mining industry, aligning with sweeping legislative reforms enacted in 2020 to attract international mining firms. The ongoing exploration is being carried out in partnership with Afaq Mining Company, a domestic leader in mineral resource development.
According to ministry officials, comprehensive geological studies and technical analyses are underway to determine the precise reserve volume, recovery rates, and commercial viability, laying the groundwork for the potential development of a new gold mine in the region.
The area in question lies within Gabal Elba National Park, a protected reserve covering over 35,600 square kilometers in Egypt’s southeastern corner. The government has pledged to ensure that any mining operations in protected areas adhere to strict environmental regulations.
This revelation adds to Egypt’s growing list of mineral discoveries in the Eastern Desert, including the 2020 Ikat mine, which holds an estimated 1.3 million ounces of gold, backed by over $300 million in investments. Egypt has since launched international tenders across 56,000 square kilometers, inviting global players to capitalize on the country’s vast geological potential.
The ministry has set ambitious goals for the sector, aiming to attract $375 million in foreign investment over the next two years, with total direct mining investment expected to surpass $1 billion by 2030.
As Egypt seeks to diversify its economy and reduce dependence on traditional sources of revenue, gold and mineral exploration are becoming key pillars in its long-term economic strategy. With promising early indicators in west Elba, the country could be on the verge of positioning itself as a major player in the global mining landscape.
