Centamin Egypt’s Losses Amount To EGP 120 mln

The crisis of Centamin Egypt, which has the franchise of extracting gold from Alsukari mine, became critical after the workers doubt the credibility of the protocol which was signed yesterday between the workers and the company’s administration in the presence of ministry of manpower. The company administration was able to pass the decision of dismissing the rebellious workers, even though the worker said those who attended the meeting didn’t represent them. After passing ten days, the losses reached EGP 120 million.

MD to Centamin Egypt Youssef Al Kady said the protocol, which was provided by the head of the Union for Workers of Mines and Quarries, the Union secretariat and the minister of manpower Hassan Refaat, was approved.

Esmat al-Raghy, public relations director at Centamin Egypt, in statements to Amwal Al Ghad, said the protocol provides for delaying the termination of the contracts of 34 workers, and starting investigation with them through the general union and by attending the company’s representative. It also provides for implementing 60% increase, plus 15% allowance which approved by the president on the insurance salary.

He mentioned that the workers are still on strike, making the company loses EGP 120 million. At once, the workers rationalize their strike because those who signed the protocol didn’t represent them.