São Paulo – Gold and precious stone exports from Egypt climbed 37% to USD 339 million in January, local news outlets reported, quoting a report from the General Organization for Export and Import Control (GOEIC).
January 2017 had seen foreign sales of gold and precious stones from Egypt fetch USD 248 million, or USD 91 million less than in January this year.
The hike in revenue was driven by sales to Turkey, up 152% to USD 23 million, and to Saudi Arabia, which went from USD 2,000 in January 2017 to USD 3 million in January 2018. Sales also climbed to countries including Palestine and Germany.
A major goldmine in Egypt is Sukari, with exploration handled jointly by company Centamin and the Egyptian Mineral Resources Authority (EMRA). Located 25 km off the Red Sea, the mine went active in January 2010, Egyptian media said.
Marble and granite exports from Egypt slid by 7% year-on-year, going from 217,800 tons in January 2017 to 157,500 tons in January this year.
China was the biggest importer of marble and granite from Egypt, followed by Libya, Saudi Arabia, Britain and Northern Ireland. The GOEIC also reported that Egypt began shipping gold and/or precious stones to countries including Mozambique, Switzerland, Hungary, Niger, Puerto Rico, Sweden and Costa Rica.
Translated by Gabriel Pomerancblum
