The Ministry of Petroleum and Mineral Resources signed a mine exploitation agreement with the Mineral Resources and Mining Industries Authority and Centamin Central Mining

The Egyptian House of Representatives has finally approved the draft law on the exploitation of gold ore and related minerals in the Sukari gold mine.

Centamin Plc and NYSE-listed miner AngloGold Ashanti have approved the terms of a recommended acquisition of Centamin.

The Egyptian Competition Authority (ECA) has greenlit NYSE-listed miner AngloGold Ashanti’s $2.5 billion offer to acquire Centamin.

The Ministry of Petroleum and Mineral Resources confirmed that recent acquisition of Centamin, the sole owner of the Pharaoh Gold Mines, by AngloGold Ashanti will not affect Egypt’s rights or revenues from the Sukari Gold Mine.

South African AngloGold Ashanti will acquire Centamin PLC, the operator of Egypt’s largest gold mine Sukari, in a $2.5 billion stock and cash deal.

Australian mining company Centamin plans to invest up to $100 million in gold exploration and production in Egypt over the next year, CEO Martin Horgan told Asharq Business.

Egypt has earned $1 billion in revenues from the Sukari gold mine (SGM) since its construction.

The Egyptian government’s share of the Sukari Goldmine (SGM) production has surpassed $130 million in 2023, Amr Hassouna, Centamin PLC’s Country Manager, stated.

Production from the Sukari gold mine, Egypt’s first large-scale modern mine, hit 450,058 ounces in 2023, compared to 440,974 ounces in 2022, Centamin PLC revealed.

Centamin PLC has raised its gold reserve estimates from its Sukari gold mine in Egypt by 10% to 5.8 million ounces.

The Egyptian Supreme Administrative Court (SAC) has issued a final judgment rejecting an appeal submitted by a third party in 2011 against the validity of Centamin Plc’s Sukari Gold Mine exploitation license.

On July 16th, it was reported that Egyptian Ministry of Petroleum and Mineral Resources will sign seven contracts with Centamin and Barrick Gold for the commercial exploitation of gold discoveries.

Centamin PLC, the operator of Egypt’s largest gold mine Sukari, is looking forward to producing between 450,000 and 480,000 ounces of gold by the end of this year.

The Egyptian Ministry of Petroleum and Mineral Resources will sign seven contracts with Centamin and Barrick Gold this week for the commercial exploitation of gold discoveries.