Centamin corporation that operates the Sukari Gold mine announced that it sold 31.219 gold ounces in 2021, instead of 16.300 ounces in 2020, to the Egyptian Central Bank in the framework of their 2016 deal.
It added that the value of the gold bought by Egypt from $ 29.4 million to $ 56.2 million. In addition, the famous gold mine produced five million gold ounces until now.
It is expected that its gold capacity could exceed 12 years.
In the same context, Centamin corporation board pointed out that it works on varying its sources as it added 3000 km in the south of the Eastern Desert, and it will spend three million dollars for mining in 2012, and between six and seven million dollars for mining projects by 2023.
It also announced the retirement of its Cairo office head, Youssef El Raghy, and the appointment of Amr Hassouna starting from April.
Moreover, the company revealed that Egypt's shares from Soukari gold mine decreased by 52% last year.
Finally, Centamin concluded in its statement that Egypt's shares were estimated at $ 97 million in 2021, instead of $ 200 million in 2020.
The revenues of the mine are pided as the following by $ 75.2 million for the Egyptian government, $ 21.7 million taxes and royaltys.
According to the agreement between the company and the government, Egypt gets 50% of the mine's revenues starting from 2020.
Contributed by: Rana Atef
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