2023-04-20 12:58:00
02:58 PM
Thursday, April 20, 2023
I wrote – Shaima Hefzy:
The Egyptian government received revenues of more than $19 million from the sale of the Sukari gold mine during the first quarter of this year, reflecting the rise in gold prices.
According to a statement from the Australian company Centamin, which operates the mine, today, Thursday, the government received, according to the operating agreement, $6.1 million in royalty payments, and $13.5 million as a share of the quarterly dividend.
The revenues from selling gold to Centamin increased during the first quarter of this year by 18% compared to the first quarter of 2022, to reach $205.2 million, compared to $174.6 million.
The average gold price rose during the first quarter of the year to $1,902 an ounce, up from $1,883 an ounce in the comparative quarter and $1,735 an ounce in the last quarter of 2022.
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