<p>Gold from the time of the Pharoah’s may still be buried in Egypt.</p>
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Gold from the time of the Pharoah’s may still be buried in Egypt.

Pharaohs’ gold still buried

Canada-based explorationists Alexander Nubia thinks there are large amounts of gold still buried in Egypt that date back to ancient mines.

Gold mining firm Alexander Nubia believes there are vast amounts of gold buried in the deserts of Egypt, remnants of ancient mines. The Canada-based explorer thinks the value of that gold is in the hundreds of billions.

“Using modern mining techniques and technology, we hope to recover a lot of the gold that [the Roman and Egyptian civilizations] missed,” says Mark Campbell, CEO of Alexander Nubia.

The untapped gold in Egypt has been largely ignored since President Gamal Abdel Nasser nationalized much of the country’s industry in 1961 and 1962, focusing efforts on oil and gas. Today only one gold mine, Centamin’s Sukari, operates in the region, with an output of around 440,000 ounces per year.