Amal El-Sheikh, the managing director of Shell Lubricants Egypt and
Youssef El-Raghy, the general manager of Centamin’s Egyptian operations and managing director of the SGM
signing the agreement on Tuesday 8 February, 2022.
Shell has been the sole supplier of lubricants for the SGM since 2014.
During the signing event, Amal El-Sheikh, the managing director of Shell Lubricants Egypt, said that Shell would continue to support the activities at the SGM under this contract with the aim of exclusively supplying the mine with lubricants as well as providing other services, including technical services, on-site engineers, and analysis labs, in addition to investment for sustainable development.
For his part, Youssef El-Raghy, the general manager of Centamin’s Egyptian operations and managing director of the SGM, said that the mining sector in Egypt has significant potentials to further stimulate Egyptian economic growth.
“The SGM is the largest gold mine and significant employer in Egypt. The mine is globally revered as a world class orebody. It has been in operation since 2009 and is forecast to produce on average 500,000 ounces of gold annually for the next 12 years,” El-Raghy added.
The SGM is Egypt’s only gold ore producer, with reserves estimated at five million ounces.
In February, Centamin reported a 200 percent increase in its underground proven and probable reserves of gold.