Egypt court cancels gov't contract with gold-mining giant Centamin

Ahram Online, Tuesday 30 Oct 2012

Centamin Egypt
Centamin Egypt (Photo: Al-Ahram)

Egypt's largest gold producer Centamin PLC is being ordered to halt operations at the country's Sukari gold mine after an Egyptian administrative court cancelled its contract with the government.

Egypt's State Council said the Tuesday ruling was reached after the court decided there had been irregularities in the way Centamin had renewed its contract to exploit the country's largest gold mine.
The latest renewal was carried out by a government official, without passing through Egypt's lower house of Parliament as it customary, the Council said.
More details will follow shortly


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