Sukari Gold Mine Operating Normally, Despite Court Ruling

Bloomberg reported that Centamin Plc’s Egyptian Sukari Gold Mine is operating normally on the heels of a  court decision that annulled an 18-year old contract with Egyptian Mineral Resources Authority. Centamin Plc plans to appeal the decision.

As quoted in the market report:

The administrative court in Cairo ruled yesterday that the mineral authority didn’t exercise enough oversight on gold- extraction operations, and that Egypt’s share of the profits is too low. Centamin’s London-listed shares fell as much as 59 percent, the most on record, before trading was suspended.

To view the whole Bloomberg report, click here.