Egypt’s Shalateen Mineral Resources has reported a significant uptick in gold deliveries to the Central Bank of Egypt (CBE), recording a 12% year-on-year increase during the first quarter of 2026. This surge is part of a broader strategic effort to strengthen gold supplies amid global market volatility and bolster the nation’s precious metal reserves.
According to government sources, Shalateen’s Q1 gold deliveries surpassed 250 kilograms in the first three months of the year. The company has established an ambitious target to increase total deliveries of high-purity 24-karat gold to approximately 1.25 tons by the finish of 2026. This would represent a substantial climb from the 945 kilograms delivered throughout 2025.
The growth in output is attributed to two primary operational drivers. First, companies operating within concession areas have expanded their production activities. Second, Shalateen has aggressively pursued the development of artisanal mining; last year, the company awarded eight recent mining zones to investors, which has significantly accelerated the pace of official extraction and supply. This expansion reflects a strategic move to formalize mining activities and maximize domestic output.
Market dynamics have also played a critical role. The company noted that record-high global gold prices have incentivized licensed operators to ramp up production and increase official supplies. This trend is contributing to recent shifts in the Egyptian gold market, as the state seeks to optimize its reserves during a period of global price strength.
Operationally, Shalateen serves as the central hub for gold collection, receiving shipments on a monthly basis from licensed individuals and firms working in the Eastern Desert. These quantities are then transferred to the CBE. The valuation of the gold is determined by global market prices denominated in U.S. Dollars, with the final payment calculated in Egyptian pounds based on the official exchange rate.
The increase in official supply is closely watched by observers analyzing the Egyptian gold market, as higher official volumes can influence the impact on market pricing for various karats, including 21K gold.
