Cairo: The Egyptian Public Treasury Authority has received nearly $48.3 million from the Sukari gold mine during the first half of 2018.

Egypt earned around $9 million as a royalty payment from the mine, in addition to $39.3 million in profits the Egyptian Mineral Resources General Authority obtained during the six-month period ended June, according to a statement by Centamin plc.

Centamin posted a 2% increase in revenues to reach $296.4 million in H1-18, despite a 7% year-on-year fall in gold production from its Egypt flagship Sukari mine to record 217,100 ounces.

The Jersey-based company is expecting a leap in production in H2-18 on the back of recovered mining activities.

Source: Mubasher

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