Arab Finance: Egypt's petroleum ministry has yielded an agreement with mining firms Barrick Gold Corp and Centamin Plc on the commercial, fiscal, and legal arrangements for the exploitation of gold and associated minerals in a number of concession blocks they had been awarded, the ministry said in a statement on July 20^th.

On July 16^th, it was reported that Egyptian Ministry of Petroleum and Mineral Resources will sign seven contracts with Centamin and Barrick Gold for the commercial exploitation of gold discoveries.

The deals will allow the government to obtain 50% of the net profit achieved from the commercial operation of the gold mine when it is operational.

Centamin PLC is the operator of Egypt’s largest gold mine Sukari.

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