1,042 kg of gold arrived at Cairo Airport Wednesday
Al-Sukkari gold mine at Marsa Alam - YOUM7(Archive)

CAIRO: A total of 1,042 kilograms of gold arrived to Cairo International Airport Wednesday after they were extracted from Al-Sukkari gold mine at Marsa Alam, Youm7 reported.

The gold shipment reached the airport on a private plane from Marsa Alam and airport authorities intensified security measures as a preparation for the shipment’s arrival.

Source told Youm7 that the shipment was later transported to storage places in Cairo under heavy security.

The gold mine is located in the Eastern desert, excavated by the Ministry of Petroleum and Metallurgical Wealth with Centamin Company.

The company said on its official website that in 2010 the mine produced more than 150,000 ounces with an extraction cost of $527 per ounce. In 2011, Al-Sukkari produced more than 200,000 ounces with a cost of $556 per ounce.

Al-Sukkari extracted 262,828 ounces of gold in 2012, with an increase of 30 percent from 2011.

The cost of production was $669 per ounce and Centamin estimated that the mine might have 10.1 million ounces of gold reserves.

The mine is located 700 kilometers away from Cairo, considered as “Egypt’s first modern gold mine.”

Egypt State Information Service (SIS) said in October 2011 that Egypt has 120 unexcavated gold mines.

Cairo International Airport shipped 185 kilograms of pure gold from Sukkari mine to Canada in May to go through “gold parting” process to prepare the gold to sell in international stock markets, according to Youm7. In February, authorities transported 129 kilograms of pure gold to Canada for the same purpose.

Egyptian Mineral Resources Authority EMRO said on its website that developing mineral wealth in Egypt will make it an essential component of national income and is considered as a national objective.

The authority said wealth should be explored based on science using the best methods to extract different materials and benefit from them economically.

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