By Emmanuel Nduka Obisue
Egypt has begun work on its first large-scale gold refining plant as part of efforts to boost exports and strengthen its position in the global precious metals market.
The Gold and Precious Ores Division of the Federation of Egyptian Industries (FEI) announced the development on Friday, saying the facility would meet international standards and refine mined gold to 24-carat purity.
Chairperson of the division, Ehab Wassef, said the project is being implemented under a directive of the Supreme Gold Committee, which was established with the backing of President Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly.
The initiative is aimed at expanding Egypt’s gold value chain and enhancing competitiveness in international markets.
According to Wassef, while Egypt already operates several refining facilities, they are limited in scale and function independently within mining operations.
“A refining plant purifies gold extracted from mines and converts it into gold bars suitable for circulation. Egypt currently has multiple refining units, but each operates separately. What has been lacking is a single, large-scale refining enterprise,” he explained.
The new refinery is expected to play a key role in driving export growth. Data from the Federation of Egyptian Industries show that Egypt’s gold exports stood at $7 billion in 2025, with authorities targeting an increase to $9 billion in 2026.
In the regional gold refining market, Egypt’s main competitor is the United Arab Emirates, which has established itself as a major hub for precious metals trading and refining.
As part of its expansion strategy, Egypt is also considering engaging an international marketing firm to promote locally produced gold jewellery and refined products in overseas markets.
