Centamin to continue driving forward in Egypt despite civil activity

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Centamin reported a strong second quarter despite two daunting challenges – slumping gold prices and civil unrest in Egypt, where its operations continue despite the upheaval, MineWeb reports.

The mining services firm has not been impacted too much by demonstrations in the North African nation, which tend to be in the larger cities. The top official with the company said that those protests are unlikely to influence operations.

“The recent political changes in Egypt have not affected operations at Sukari,” Chairman Joseph El Raghy with Centamin said in a statement to shareholders, according to the news source. “The company remains confident that Egypt’s on-going political transition will not have a material adverse impact on the company’s investment and there are no matters to report outside of what is already publicly available.”

But, while waiting for the nation to stabilize, Centamin is moving forward with developing its interests, which includes a drive toward doubling capacity from 5 million tons per year to 10 million tons.

The Sukari site began operation in 2009 and is considered the nation’s first large-scale modern mine for the yellowish metal, according to the company’s website.

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