New Mint Planned for Egypt

The Egyptian Cabinet has approved a proposal to conclude a partnership agreement between the Public Treasury, the Egyptian Mint Authority, and the UK’s Royal Mint to establish a new British-Egyptian mint.

The Cabinet has also agreed to a proposal to mint and issue a 2 pound (LE) coin, a denomination which doesn’t currently exist.

The existing Egyptian Mint was opened in 1953 with the support of the Royal Mint to produce Egypt’s coins. It has also produced coins for Syria, Saudi Arabia and Yemen, along with medals and insignia. It was merged with the Public Treasury Authority in one entity under the Finance Ministry in 2019.

Egypt’s Finance Minister first announced a deepening cooperation with the Royal Mint in coin technology production back in February. According to the Minister, Egypt is seeking to maximise the capabilities of the Egyptian Mint, as one of only two such facilities in Africa and the Middle East, to cover the needs of domestic and regional markets.