https://www.engineeringnews.co.za

New law may end Centamin’s legal tussle over claim

24th April 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – A new investment law promulgated by the Egyptian government this week may lead to the dismissal of a 2012 administrative court ruling declaring London-listed Centamin’s right to operate the Egypt-based Sukari mine invalid.

The gold producer has been appealing the ruling in drawn out legal proceedings against the Egyptian Administrative Court, which sought to revoke Centamin's exploitation lease for its gold mine.

The company on Thursday said the new law – numbered 32 of 2014 – could potentially restrict the capacity for third parties to challenge any contractual agreement between the Egyptian government and an investor.

“Centamin continues to discuss with its advisers the process by which the original claim in relation to the Sukari Concession Agreement, which was brought by a third party and is subject to an ongoing court appeal, may be dismissed under the provisions of this new law,” the company stated.

The new law appeared to cover all currently pending lawsuits and challenges.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Roytec Global (Pty) Ltd
Roytec Global (Pty) Ltd

Roytec Global is an international company specializing in liquid / solid and mineral separation technologies for the Mining and Industrial sectors.

VISIT SHOWROOM 
Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.06 0.824s - 140pq - 2rq
Subscribe Now