Browse
related articles
Centamin to appeal Egyptian ruling
- Egypt: Thursday, November 01 - 2012 at 01:44
Centamin has announced it will appeal against a ruling by an Egyptian court that has declared invalid its rights to operate its main asset, the Sukari mine, Reuters has reported. "Of course we are appealing this ruling," Youssef El-Raghy, general manager of Centamin's Egyptian operations, told Al-Arabiya TV when asked whether the company would appeal. Investment bank Beltone Financial said it believed Centamin could win an appeal but, failing that, could seek international arbitration in the dispute. "We believe that, due to the firm's foreign ownership structure and, given the right to appeal the ruling, Centamin would ultimately be able to successfully appeal and retain its mining rights," the bank said in a research note, adding that international arbitration was an option if the ruling was upheld by a higher court.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
