Centamin’s profits jump 221% in H1 2020 buoyed by surges in gold prices amid COVID-19

EGYPT – Egypt based gold mining company Centamin has posted a 221% profit jump in the first half of 2020 as revenues received a major boost from a unprecedented rise in gold prices during the COVID-19 period. Centamin said in a statement, that it achieved a pre-tax profit of US$191.14 million, a significant improvement compared to US$59.62 million recorded during the same period last year. The mineral exploration and mining company attributed rise to the to an increase in production of at the Sukari mine in Egypt. The rise in…

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Egypt’s mining sector boosted with discovery of new gold mine

EGYPT – Egypt mining sector has received a major boost after a new goldmine with reserves estimated at more than one million ounces of gold was discovered in the country’s Eastern Desert. While confirming the new discovery, Egypt’s Minister of Petroleum Tarek el-Molla, clarified in a statement that the new discovery is located in the concession area of “Shalatin” Company for Mineral Resources. According to a report by Egypt Today, Shlatin company is comprised of: The Egyptian General Mineral Resources Authority, the National Service Projects Authority, the National Investment Bank…

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