SOURCE: Centamin Egypt Limited

February 28, 2011 02:16 ET

Centamin Egypt Limited: Sukari Gold Exports

PERTH, AUSTRALIA--(Marketwire - February 28, 2011) - Centamin Egypt Limited ("Centamin" or "the Company") (LSE: CEY) (TSX: CEE), the gold mining group in Egypt, has noted media reports regarding the possible restriction of gold exports from Egypt:

  • The Company has received no formal or informal notice from the Ministry of Petroleum and Mineral Resources or any other official or unofficial agency within Egypt to curtail, restrict or prohibit any regular gold shipments from the company's operation;
  • The Company's Sukari Gold Mine continues to produce and export gold dore for refining with a recognised international refiner and receives the international spot price for such deliveries when they occur;
  • The above activities are explicitly enshrined in the Company's Concession Agreement (Law 222 of 1994) with the Egyptian Mineral Resource Authority and the Arab Republic of Egypt, and the company has confirmed again today with the Ministry of Petroleum and Mineral Resources that any such restrictions on the export of gold will not be applicable to the Company's activities.

For Centamin Egypt Limited

Josef El-Raghy
Chairman
28 February 2011

Contact Information

  • For more information please contact:
    Centamin Egypt Limited
    + 61 (8) 9316 2640
    Josef El-Raghy
    www.centamin.com

    Buchanan Communications Limited
    + 44 (0) 207 7466 5000
    Bobby Morse
    Katharine Sutton