RE: Egypt Doesn't Have The $$ To Import Needed Fuel13 Aug 2023 13:39
Mary it is unlikely to affect Centamin.
It is registered in Jersey an its currency is the UK pound ,it buys its fuel based on Dollars ,(at the moment).
Its Egyption employees will be paid at the current or future rate of conversion to the Egyption pound.
As an extra aside Egypt is increasingly taking investments in infrastructure from Russia.
At the moment building Egypts Nuclear powerstation, with latest reactors, run by Rosatom.
Also a large industrial zone in the Suez canal zone.
So foreign investment is coming into Egypt on a large scale ,also many others such as Saudia Arabia.
Of course many things can alter ,such as a Dollar de-valuation.
So its far from the end of the world.