Riyadh - Sharikat Mubasher: An affiliate of the Saudi Gold Refinery Company (SGR) plans to obtain licenses to explore minerals and gold in the concession area of Shalateen Mineral Resources Company in Egypt’s Eastern Desert, according to Yousif Abdulrahim, Vice President of Legal and Compliance and Operations Director at SGR.

Company officials will visit Cairo within the next two weeks to explore investment opportunities in the mining sector, Abdulrahim stated in an interview with Asharq Business.

He stated that SGR currently holds 25 mining licenses and submitted a request to the Saudi government for an additional 162 licenses.

Abdulrahim also revealed that SGR plans to expand its operations in Sudan, Ethiopia, Eritrea, Pakistan, and Kazakhstan in 2025.

Shalateen Mineral Resources Company explores minerals and gold in several rich concessions in the Eastern Desert and has liquidity valued at nearly EGP 1 billion.