Egypt: House of Representatives greenlights Centamin's 30-year Sukari gold mine exploitation
The draft law was submitted by the government to license the project for the Minister of Petroleum and Mineral Resources, in partnership with the Egyptian Mineral Resources Authority (EMRA) and Centamin.
It grants Centamin the rights to make use of the Sukari area for a 30-year period.
Accordingly, the company is fully commited to self-finance the project, without the state bearing any burdens.
Also, Centamin shall carry out regular assessments of the environmental impact of its mineral activities, while complying with environmental protection, general health, and safety standards.
The project aims to boost Egypt's economy, provide new jobs, and back the state's efforts to develop the mining sector.
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