Egypt Mining News

Centamin drops more than 12 percent on second cut to annual output target

The miner now expects to produce 480,000 ounces of gold, down from a range of 505,000 to 515,000 ounces it estimated in May.

Central bank demand for gold reaches 3-year high

Egypt recently bought gold for the first time since 1978, India, Indonesia, Thailand and the Philippines have re-entered the gold market after years-long absences.

Egyptian copper's origin revealed

Two new studies reveal where ancient Egyptians got the red metal from.

Gold miner Centamin's core earnings beat expectations, shares rise

Gold miner Centamin Plc's quarterly core earnings topped market expectations as lower-than-estimated mine site costs and inventory-driven sales volumes offset a drop in production.

Africa's richest man signs $650 mln Afreximbank loan for oil refinery

The seven-year term loan would attract a moratorium of five years, according to facility terms read out during the signing.

Gold miner Centamin cuts output targets on lower grade ore

Gold output in 2018 will now be between 505,000 and 515,000 ounces, compared with a previous forecast of 580,000 ounces, Centamin said.

Egypt’s officials proud of the country’s sole gold-exporting mine

In Q1 2018, the mine produced 124,296 ounces, some 30,000 ounces below Q4 2017 levels but a 14 per cent increase y-o-y.

This billionaire says he's put half his net worth into gold

Egyptian billionaire Naguib Sawiris believes gold prices will rally further, while “overvalued” stock markets crash.

Egypt’s sole gold-exporting mine reports high profits

January profits for the Sukari gold mine are making headlines in the country.

Centamin shareholders get bumper divvy, despite 2017 profit fall

Egypt-focused gold miner is paying a final dividend of 10 US cents per share, or a total of $144 million, as it vowed to return all of its excess cash to investors.

Centamin jumps on better-than-expected gold output estimates

The Egypt-focused gold miner also expects solid growth this year. It’s targeting 580,000 ounces in production, up from an estimate of 550,000-560,000 ounces.

LOESCHE involved in new construction project with three vertical roller mills for large cement plant in Egypt

LOESCHE is involved in the new construction of a large cement plant in Egypt with three vertical roller mills.

Egypt awards gold mining tender to four companies

Two of them are foreign firms.

Centamin shares fall after reporting profit and production declines

Despite the drop in production, the gold miner kept guidance unchanged for its 2017 financial year at 540,000 ounces.

Mining no longer top sector attracting investors to Africa — report

Industrial and precious metals, coal, oil, as well as natural gas, collectively accounted for just 6.2% of foreign direct investment into the continent last year.

Egypt opens gold assets to foreign companies, first time since 2009

First international tender for gold mining concessions in eight years to be held on Sunday.

Egypt ancient gold mines offer clues on country’s untapped vast mineral deposits

The country is said to be sitting on mineral deposits worth hundreds of billions of dollars which, once developed, could surpass oil as its main source of income.

Pharaohs' shadow an omen in Egypt gold search

Egypt's gold mining industry has for years been long on potential and short on investment.

Centamin ups 2016 production target for its gold mine in Egypt

The miner is one the very few bullion miners to have performed well during one of the most difficult markets conditions affecting gold producers in decades.

The world's 10 driest mines

Average annual precipitation at many of these mines is zero.

Centamin stock dives on below-expectations 2015 gold output forecast

The gold miner said it expected to produce 420,000 ounces at its only operating mine in Egypt this year, missing some analyst expectations.

Centamin shares jump on Sukari gold mine results

The firm mined 93,624 ounces of the yellow metal in the three months to end September and it also maintained its full-year production forecast of 420,000 ounces of gold.

No end in sight for Centamin legal fight over gold mine in Egypt

An appeal case on the company’s right to mine in Egypt is seen taking until next year to resolve.

Centamin legal fight over gold mine in Egypt set to end this year

Centamin issues in Egypt go back to 2012, when a court cancelled its mining license for Sukari, the firm’s only producing mine, and the country’s first large-scale modern gold operation.

Resource rich countries lead global conflict and political violence index

Levels of conflict and political violence have risen significantly in 48 countries, most of them considered traditional mining destinations.