{"id":611009,"date":"2023-11-30T00:00:00","date_gmt":"2023-11-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/30\/egypt-court-rules-in-favor-of-centamin-ending-12-year-legal-dispute\/"},"modified":"2023-11-30T00:00:00","modified_gmt":"2023-11-30T00:00:00","slug":"egypt-court-rules-in-favor-of-centamin-ending-12-year-legal-dispute","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/30\/egypt-court-rules-in-favor-of-centamin-ending-12-year-legal-dispute\/","title":{"rendered":"Egypt court rules in favor of Centamin, ending 12-year legal dispute"},"content":{"rendered":"

The end of a decade-old legal battle: <\/strong>The Egyptian Supreme Administrative Court (SAC) rejected a 2011 legal challenge against LSE-listed gold miner Centamin\u2019s Sukari mine concession, the company said in a disclosure<\/a> on the exchange.<\/p>\n

The lawsuit summed up: <\/strong>A third-party filed a lawsuit against Centamin in 2011, challenging the validity of the Sukari\u2019s exploitation lease between the Egyptian government, Centamin's Egyptian subsidiary Pharaoh Gold Mines (PGM), and the Egyptian Mineral Resource Authority (EMRA). A year later, the Supreme Administrative Court found that even though the agreement itself was valid, EMRA and PGM hadn\u2019t received the necessary approvals for the exploitation lease. The defendant appealed the lawsuit, but the final decision has been pending the Supreme Constitutional Court\u2019s ruling<\/a> on the Appeals Against State Contracts Act, which upheld the legislation earlier this year.<\/p>\n

The rationale: <\/strong>The court rejected the case in its entirety, seeing as the claimant \u201chad no capacity to bring the claim,\u201d as he was not part of the Sukari mine concession agreement. Third-party lawsuits against state-investor contracts are not possible under the Appeals Against State Contracts Act, a 2014 bill that prevents third-parties from mounting legal challenges against contracts signed between the government and investors. <\/p>\n

That\u2019s final: <\/strong>\u201cThe claimant has no right to appeal and today's judgment is final and therefore brings this long-running litigation to a close,\u201d the company said.<\/p>\n

Business as usual at Sukari: <\/strong>Operations at the Sukari Gold Mine were not disrupted during the duration of the dispute. <\/p>\n","protected":false},"excerpt":{"rendered":"

The claimant has no right to appeal the court\u2019s decision<\/p>\n","protected":false},"author":1,"featured_media":611010,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8678],"tags":[2569,957,72,3070,4510,862],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-centamin","tag-dispute-watch","tag-enterpriseam","tag-sukari-gold-mine","tag-supreme-administrative-court","tag-supreme-constitutional-court","wpautop","entry"],"acf":{"mongo_id":"915cdfec-df1d-4e90-9853-659958359ece","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1734.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt court rules in favor of Centamin, ending 12-year legal dispute","related_issue":[611002],"teaser":"The claimant has no right to appeal the court\u2019s decision","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.b4721966-efe3-479a-8d90-aa1dcb02aee1.mp3"},"yoast_head":"\nEgypt court rules in favor of Centamin, ending 12-year legal dispute - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/11\/30\/egypt-court-rules-in-favor-of-centamin-ending-12-year-legal-dispute\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt court rules in favor of Centamin, ending 12-year legal dispute\" \/>\n<meta property=\"og:description\" content=\"The claimant has no right to appeal the court\u2019s decision\" 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"Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1306.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645551,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/24\/centamin-paid-emra-usd-11-mn-of-sukari-gold-mine-profits-in-june-egypt-gm\/","url_meta":{"origin":611009,"position":2},"title":"Centamin paid EMRA USD 11 mn of Sukari gold mine profits in June -Egypt GM","author":"enterpriseam admin","date":"24 July 2017","format":false,"excerpt":"Centamin paid the Egyptian Mineral Resources Authority (EMRA) USD 11 mn of what it owes it in profits from the Sukari gold mine in June, General Manager for Egypt Youssef El Raghy tells Youm7. Government officials had previously said that Egypt\u2019s profit share from the Sukari gold mine in 2017\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625421,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/05\/egypt-receives-usd-48-3-mn-from-sukari-gold-mine-in-1h2018\/","url_meta":{"origin":611009,"position":3},"title":"Egypt receives USD 48.3 mn from Sukari gold mine in 1H2018","author":"enterpriseam admin","date":"5 August 2018","format":false,"excerpt":"Egypt has received USD 48.3 mn in profit share and royalties from Centamin\u2019s Sukari gold mine in 1H2018. The Egyptian Mineral Resources Authority (EMRA) received USD 39.3 mn in profit share from the mine, with Centamin paying USD 9.0 mn in royalties to the state, Centamin said in its earnings\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595690,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/egypt-receives-usd-48-2-from-sukari-gold-mine-in-2h2018\/","url_meta":{"origin":611009,"position":4},"title":"Egypt receives USD 48.2 from Sukari gold mine in 2H2018","author":"enterpriseam admin","date":"4 August 2019","format":false,"excerpt":"Egypt received USD 48.2 mn in profit share and royalties from Centamin\u2019s Sukari gold mine in 1H2019, the company said in its earnings release (pdf). The Egyptian Mineral Resources Authority (EMRA) received USD 39.4 mn in profit share (unchanged y-o-y), with Centamin paying USD 8.8 mn (down 2% y-o-y) mn\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651040,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/02\/centamin-expects-to-pay-egypt-around-usd-100-mn-in-2017\/","url_meta":{"origin":611009,"position":5},"title":"Centamin expects to pay Egypt around USD 100 mn in 2017","author":"enterpriseam admin","date":"2 February 2017","format":false,"excerpt":"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. 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