Centamin expects to pay Egypt around USD 100 mn in 2017 in its first full year of profit sharing with the government from the Sukari gold mine after recovering its costs, CEO Andrew Pardey told Reuters. Centamin produced over 551k ounces of gold in 2016, up 26% from 2015. The company was one of the best performing stocks in the FTSE 250 in 2016, The Telegraph said, following a “bumper year.” Centamin had said, however, it will not be entering the Egyptian Mineral Resources Authority (EMRA) upcoming bid round, saying its terms are not economically viable. Centamin’s net profit after tax and EMRA’s share for 2016 was 316.43% higher y-o-y, coming in at USD 214.76 mn compared to USD 51.6 mn in 2015, according to the company’s release to the London Stock Exchange.

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