A 3,000-year-old gold bracelet belonging to Pharaoh Amenemope from the Third Intermediate Period has been stolen and melted down at the Grand Egyptian Museum in Cairo. Egypt's Interior Ministry confirmed the theft on Thursday.

The bracelet belonged to Pharaoh Amenemope, who reigned around 1000 BC. It was decorated with round lapis lazuli (blue gemstone) and disappeared from a museum's archive laboratory on September 9.

After the theft was discovered, a special committee was formed to examine other archaeological materials in the laboratory. Photos of the bracelet were sent to Egypt's airports, seaports and land borders for fear of smuggling abroad.

It is known that an expert from the museum stole the bracelet and first sold it to a silver merchant. The businessman then sent it to a workshop owner in Cairo's historic Jewelry District. The workshop owner eventually sold it to a gold smelter, where it was melted down with other items.

Authorities have arrested the suspects and seized about 194,000 Egyptian pounds ($4,000) in proceeds from the theft.

The theft occurred at the Grand Egyptian Museum, located near the Giza Pyramids, which was due to open in November. The museum is a major showcase of Egypt's ancient heritage and is a key source of tourism and foreign exchange for the country.

The illegal trade in antiquities has long been a concern in Egypt. Last year, authorities arrested two men accused of stealing and attempting to smuggle hundreds of antiquities.