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Big enough to rival major African producers like Tanzania. But until recently, Centamin's had the gold field pretty much to itself. After Egypt's socialist revolution more than 50 years ago foreign mining companies fled. An antiquated mining code hasn't given them much reason to come back. Frank Sader manages Middle Eastern policy reform at the International Finance Corporation, or IFC. It's the private sector arm of the World Bank. He says under the current system, more than half a company's revenues go to the Egyptian government.


Is this the case with Centamin? 50% of revenues to the government.