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Centamin profit soars on strong gold prices during pandemic

Reuters

(Reuters) - Centamin's annual pretax profit nearly doubled as gold prices surged during the COVID-19 crisis, prompting the miner to declare a 2020 dividend and promise at least $105 million in payouts for the current year.

Centamin, which operates the Sukari Gold Mine in Egypt, said profit before tax jumped to $315 million for the 12 months ended Dec. 31, from $173 million reported a year earlier, and proposed a final dividend of 3 cents per share.

(Reporting by Shanima A in Bengaluru; Editing by Devika Syamnath)