According to Nagy Farag, the Adviser to the Minister of Supply and Internal Trade for Gold Industry Affairs reported on Friday that Egypt ranks third in the world in terms of growth of gold reserves.

Nagy Farag noted that Egypt does not rank third in total gold reserves but in terms of the strategic growth of its reserves.

He further explained while speaking to al-Hadath al-Youm channel, that the country’s strategic gold reserves for the year 2022 soared from about 44.6 tons to 125.5 tons.

Asides from the Sukari gold mine, he added that Egypt holds many promising gold mine areas.

Farag said that the Ministry of Petroleum and Mineral Resources is outrightly fulfilling its duty in gold mining and reserves.