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Thursday, 25th November 2004 (4441 views)

Centamin Egypt has expressed confidence that operations at its Sukari Gold project will recommence soon, Dow Jones reports.<BR/><BR/>Addressing the firm's Annual General Meeting, chairman Sami El-Raghy explained that relations with the Egyptian authorities were improving, therefore paving the way for a return to work on the project.<BR/><BR/>"I'm happy to report…there has been a marked improvement in the working relationship with the Ministry [of Petroleum and Mineral Wealth], which will soon see us again focusing our efforts on our business of mineral discovery and the development of mines in Egypt," he stated.<BR/><BR/>Mr El-Raghy added that the firm's managing director was presently in Cairo engaged in "open and supportive" negotiations with Egyptian ministers over the Sukari site.<BR/><BR/>The chairman also welcomed the Egyptian government's commitment to far-reaching economic reforms and a reduction in taxation rates.<BR/><BR/>The Sukari site is estimated to contain around 3 million ounces of gold.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7158254"/>

 

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