Work has begun in Egypt on the creation of the country’s first large-scale gold refining plant. This was announced by the Chairperson of the Gold and Precious Ores Division of the Federation of Egyptian Industries, Ehab Wassef. The facility will comply with international standards and will refine mined gold to the highest, 24-carat purity, Sada El-Balad, a partner of TV BRICS, reports.

The project is being implemented by decision of the country’s Supreme Gold Committee, established with the support of President of Egypt Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly. The main objective of the project is to strengthen the republic’s position on the international market.

“A refining plant purifies gold extracted from mines and turns it into gold bars suitable for circulation. Egypt already has refining facilities, and each plant has its own gold purification unit,” Wassef explained. However, the country lacks a single large-scale enterprise.

According to the Federation of Egyptian Industries, Egypt’s gold exports in 2025 amounted to US$7 billion. The target for 2026 is to increase this figure to US$9 billion.

It is noted that in the gold refining sector, the main competitor of the Arab Republic is the United Arab Emirates (UAE). To promote Egyptian jewellery abroad, the option of engaging an international marketing company is being considered.

African Times published this article in partnership with International Media Network TV BRICS