Exporting 500 kg of gold out of Egypt

Exporting 500 kg of gold out of Egypt 

Revealed the General Authority for Mineral Resources of the Republic of Egypt for the export of 500 kg of gold outside the country by the company "Stnamin to extract the gold," Australian Nationality and bearing the privilege of mine diabetes Egyptian, and headed for the quantity mentioned previously to Canada for a purification factor of purification there is a prelude to a sale through the international stock markets.
The source also announced that Egypt had received 40 million pounds in 2010, a peer of the company in the country and this amount is equivalent to only 3% of the volume of annual production.
And profits will be distributed at the end of this year and will share time after Egypt to recover all the expenses to 60% of the production.
The Minister of Trade and Industry, "Samir Sayyad" recent decision to ban export of gold from Egypt and abroad for a period of 4 months. The reason behind this decision is to protect the national security of the country by preventing the smuggling of gold from investors and former officials in the system and who have to acquire money illegally and do so to ease the freezing of funds in the gold-and-run and then dismantled again in the form of money, and states that this resolution its implementation has been terminated in the ninth month of April.
Also led the world auction raised by the Egyptian Organization for Mineral Resources in the search for gold and associated minerals in 2009 to a contract awarded three concession areas are now complete the procedures necessary for the issuance of special laws, and amounted to a total expenditure commitments with international companies from Egypt, Russia and Canada and reached to 27 million U.S. dollars.
The production of gold in Egypt, a number of international companies and winning concessions from the Egyptian government to work Bmndjemi Hamash, diabetes, and there are 6 companies take over the work of other gold mining through exploration.