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

 

Short link:

 

Also In Economy

# Egypt, Romania sign 5 cooperation documents, 1 joint committee protocol: Planning ministry
# Dalia Elbaz takes helm as new chairman of Egypt Post
# Egypt announces current fiscal year 1st package of tax incentives, facilities
# Egypt annual core inflation decreased by 0.1% in September to 25%: CBE
# Egyptian-Malaysian free trade agreement in progress: Malaysian plantation minister
# Egypt annual headline inflation increases again in September to 26%: CAPMAS
# SCZone to produce solar panels at $1.8 mln
# Stock markets diverge as Hong Kong sinks, oil prices fall
#