Egypt Just Made $48.3 Mn From El-Sukari Gold Mine And That’s Not All!

By Febronia Hanna

During the first half of 2018, the Egyptian Public Treasury Authority received $48.3 million from the Sukari gold mine. $9 million was a royalty payment from the mine and the rest were profits to the Egyptian Mineral Resources General Authority.

Via Faculty of Science Alex University

These profits were made during the six months period that ended in June. The Company that is responsible for the mining Centamin declared a 2% increase in revenue in the first half of 2018 that amounted to $296.4 million.

The Sukari mine is a workplace for over 2,000 employees and the ore is mined from a large scale open pit that makes 90% of the production.

WE SAID THIS: All this gold should make Egypt rich, right?