Egypt receives $107M in profit share, royalties from Centamin – Egypttoday

Egypt receives $107M in profit share, royalties from Centamin – Egypttoday

CAIRO - 18 May 2020: Centamin Egypt announced Monday that cash flow generated from gold production in 2019 resulted in $107 million being distributed to Egypt in profit share and royalties.. The company clarified that profit share distribution to Egypt recorded $87.1 million and royalty payments hit $19.7 million.. According to statement, almost $500 million in profit share and royalty payments has been received by Egypt, to date.. The Mineral Resources Authority gets 55 percent of the Centamin profits from its operations in Sukary Mine after the company recovers the investment costs, and also gets 3 percent royalties, as the company supplies the royalty value to the Mineral Resources Authority twice a year.. Established in 2005, Sukari Gold Mining Company is a joint venture between the Australian Centamin Company and the Mineral Resources Authority, based on an agreement between the company and the government in 1994.. Egypt celebrates International Museum Day with exclusive tour at Gayer-Anderson Museum.