Shalateen Mineral Resources Company

What Shalateen Mineral Resources Company does

Shalateen Mineral Resources Company (SMRC) is an Egyptian state-owned joint stock company established on November 26, 2012, under Joint Stock Companies Law No. 159 of 1981 and Capital Market Law No. 95 of 1992. The company is jointly owned by four government entities — the Authority for Mineral Wealth and Mining Industries (EMRA), the National Services Projects Organization (NSPO), the National Investment Bank, and the Egyptian Company for Mineral Resources. SMRC's core business is gold and associated mineral exploration and exploitation across seven concession areas in Egypt's Eastern Desert, authorized by seven distinct laws (No. 163-169 of 2021) ratified by President El-Sisi.

SMRC's product and service platform consists of four core services (chemical analysis in accredited international laboratories, technical support via experienced geologists, field visits and technical inspections, and issuance of work and entry permits), two joint operating companies (Eqat Gold Mines targeting 1.4 million ounces of gold over 10 years from a 176 km² concession with a 95% extraction ratio, and AFAQ Mining at West Gabal Elbah in drilling/evaluation phase), and an international bid-round mechanism (most recently Bid Round 1/2023) for auctioning exploration rights to global mining companies. Supporting services include geological data packages priced at $5,000 per region and contractor registration.

Revenue mechanics come from three streams: production-sharing agreements with tax and customs exemptions during exploration phases, joint-venture economics from Eqat Gold Mines and AFAQ Mining, and modest service fees from permits, field visits, technical support, and bid-round data packages. The go-to-market is enterprise field sales targeting international and local mining majors, conducted primarily through the annual Egypt Mining Forum and direct bid-round solicitations. Customer segments are international mining companies (Centamin, Barrick Gold, B2Gold, Lotus Gold have engaged), local mining service companies (Geodrill, Al-Haitham), local small-scale mining companies, and joint operating partners.

Name

Shalateen Mineral Resources Company

Legal name

Shalateen Mineral Resources Company

Website

https://smrc.com.eg

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Shalateen Mineral Resources Company (SMRC) is an Egyptian state-owned joint stock company that manages gold and mineral exploration across seven concession areas in Egypt's Eastern Desert. It provides chemical analysis, technical support, field visits, permits, and operates gold-mining joint ventures.

Ownership category

akta.pro rank

Headquarters

HQ city

Cairo

HQ country

Egypt

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Production Sharing Agreements: SMRC operates through production sharing agreements where contractors are exempted from taxes, customs duties, income taxes, stamps, and VAT during exploration phases. The company splits production outputs with operating partners.
2. Gold Mining Operations: Direct gold mining operations through joint operating companies, with planned production from Eqat Gold Mines concession area expected to produce over 1.4 million ounces within 10 years.
3. Permit and Service Fees: Issuance of work and entry permits for concession areas, field visits, and technical support services to mining companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Shalateen Mineral Resources Company (SMRC) is an Egyptian joint stock company that manages seven gold and mineral concession areas in Egypt's Eastern Desert. It provides core mining services including chemical analysis of geological samples, field technical support, on-site field visits and inspections, and issuance of work and entry permits. SMRC also runs international bid rounds granting exploration and exploitation rights and operates joint mining ventures including Eqat Gold Mines.

Product overview

Shalateen Mineral Resources Company (SMRC) is an Egyptian joint stock company established on November 26, 2012, specializing in gold and mineral exploration and exploitation in Egypt's Eastern Desert. The company operates a platform of integrated mining services consisting of core services (Chemical Analysis, Technical Support, Field Visits, and Permits) for managing seven concession areas with seven laws (Fatiri, El Barramiya, Atud, Umm Ud, Hamata, Wadi Al Allaqi, and Gabal Iqat region). SMRC also manages two joint ventures—Eqat Gold Mines and AFAQ Mining—and conducts international bid-rounds for global mining companies to participate in gold exploration. The company provides data packages, technical evaluation, and production-sharing agreements as supporting services for investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Chemical Analysis Service Analyzes various geological samples submitted by mining companies to determine the percentage of gold and associated elements using accredited international laboratories to ensure accuracy and validity of results.
• Technical Support Service Provides field technical support to private mining companies and companies operating under the global code during different phases of exploration and exploitation, delivered through experienced geologists.
• Field Visits Service Conducts on-site field visits and inspections, writes technical reports on mineralization ranges at sites, and collects representative geological samples for mining companies.
• Permits Service Issues work and entry permits to the company's various concession areas for individuals (locals and foreigners) and equipment to support authorized mining activities.
• Data Package Service Provides data packages for bid-round areas containing geological and technical information for potential investors in concession areas. Priced at 5,000 USD per region.
• International Bid-Round 1/2023 International competitive bid round granting exploration and exploitation rights for gold and associated minerals in designated Eastern Desert concession areas to qualified mining companies.

Quantifiable outcome

• 95% extraction ratio at Eqat concession with potential to produce 1.4 million ounces within 10 years
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core, major, emerging and minor.

• Eqat Gold Mines Company (شركة ايقات لمناجم الذهب)coreStrategic or Co-development PartnerJoint operating company established by Law No. 43 of 2014 between EMRA, Shalateen Company, and the wealth company. Commercial discovery announced July 2020 at Eqat concession area (176 km²) with 95% extraction ratio. Currently conducting experiments for gold extraction operations from commercial detection areas with production expected soon.
• AFAQ Mining (شركة آفاق للتعدين)coreStrategic or Co-development PartnerPartner in West Gabal Elbah concession, located west of Gabal Elbah concession area. Accessible via four-wheel drive vehicles along desert tracks leading to the coastal road. Currently in the drilling and evaluation phase.
• The Authority for Mineral Wealth and Mining Industries (EMRA)coreStrategic or Co-development PartnerGovernment authority and shareholder of SMRC, jointly administering concession areas and gold exploration programs in Egypt.
• Egyptian Company for Mineral ResourcescoreStrategic or Co-development PartnerGovernment mineral resources company and shareholder of SMRC.
• Metallurgical Research Center (معهد تكنولوجيا الخامات بمركز بحوث وتطوير الفلزات)majorStrategic or Co-development PartnerCooperation protocol signed for technical support, exchange of expertise, joint training programs, and collaborative research. Focus areas include physical and chemical extraction methods for gold, copper, and other minerals, plus value-added processing of other ores.
• Tanmiya Petroleum (شركة تنمية للبترول)majorImplementation/ SI/ Consulting PartnerMoU signed at Egypt Mining Forum 2023 for services including technical and non-technical labor, engineering consultancy, transportation of mining materials, geological studies, environmental studies, environmental impact assessment, fire-fighting system design and construction.
• SRK ConsultingmajorImplementation/ SI/ Consulting PartnerGlobal consulting office participating in SMRC's self-exploration project for gold in Hangaliya and Umm Ud areas with self-management.
• Desert Research CentermajorStrategic or Co-development PartnerCooperation protocol signed for community development in SMRC concession areas, including water wells and agricultural development projects.
• KomatsuemergingGTM or Marketing PartnerJapanese company that expressed significant readiness to cooperate with SMRC and invest in equipment and large investments in Egypt, particularly in mining sector.
• GeodrillminorChannel Partner/ Reseller/ DistributorMining service company met at Egypt Mining Forum 2024, providing drilling services.
• Al-Haitham CompanyminorChannel Partner/ Reseller/ DistributorMining service company met at Egypt Mining Forum 2024.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Eastern Desert Mining Co. (Lotus Gold): Egyptian gold explorer with concessions adjacent to or overlapping with SMRC's portfolio. Directly competes in the same Eastern Desert mineral trend and bid round process.

Broad incumbents

• B2Gold Corporation: Major gold producer with active interest in Egyptian opportunities (attended Egypt Mining Forum). Relevant as a potential large-scale partner for SMRC's concessions given its global footprint and gold-centric portfolio.
• Endeavour Mining: Senior gold producer with diversified West African and global operations. Comparable as a potential strategic acquirer or JV partner for SMRC's larger concessions, with the technical and capital capability to develop mines at scale.
• Barrick Gold Corporation: One of the world's largest gold mining companies that has actively engaged with Egyptian opportunities through Egypt Mining Forum. Comparable as a potential SMRC partner/competitor in the region, with capacity to develop large-scale mines.
• Sandstorm Gold Royalties: Gold royalty and streaming company providing capital to gold miners globally. Comparable as institutional capital provider that could finance SMRC's mine development or acquire streaming rights on Eqat and other concessions.

Direct peers

• Centamin (now AngloGold Ashanti): Centamin operated the Sukari Gold Mine in Egypt's Eastern Desert — the only large-scale modern gold mine in Egypt — and merged with AngloGold Ashanti in 2024. Most directly comparable to SMRC as the closest Western gold miner with active operations in Egypt.
• Aton Resources: Canadian gold exploration company focused on the Abu Marawat Concession in Egypt's Eastern Desert. Comparable to SMRC as a mineral exploration operator in the same region, addressing the same orebody types (gold and associated minerals).
• Tharwat El Mawroud for Mining (Wealth Company): Co-owner of Eqat Gold Mines JV with SMRC and EMRA. Comparable as a mining-operating partner in Egypt's Eastern Desert and fellow state-linked entity active in gold exploitation.
• Lotus Gold Corporation: Egyptian-focused gold exploration company that attended Egypt Mining Forum events alongside SMRC. Both operate in the Eastern Desert with similar geological targets and produce-sharing economics.

Regional players

• Egyptian Mineral Resources Authority (EMRA): Government regulatory authority and key shareholder of SMRC. Comparable as the state architect of concession policy and the licensing counterpart for all of Egypt's mining activity — directly relevant to SMRC's operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/s-m-r-c

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shalateen Mineral Resources Company