Gold miner Centamin revealed that its cumulative direct financial investment to Egypt reached $4.2 billion till the end of the first half of 2019.
Such investment include $275 million paid to the Egyptian Mineral Resources Authority (EMRA) as profit share since 2014 and $140 million in royalties since 2009, according to a report released by the company on Thursday on the sidelines of its participation in Hermes London Conference.
Moreover, salaries, growth and sustaining capital expenditure (capex), as well as local community investment and project development are also included.
The gold miner also paid $500 million dividends to shareholders since 2014, including the interim dividends for 2019.
An additional amount of $180 million was made available to support growth and operational efficiency initiatives, in addition to $100 million of cash reserve.
Egypt signed an agreement with Centamin to operate its Sukari mine which has reserves of about 15.5 million ounces of gold.