Centamin’s Sukari gold production increases in the final quarter of 2013

6 January 2014 (Last Updated January 6th, 2014 18:30)

Mineral exploration firm Centamin has reported a 7% increase in its total gold production from Sukari gold mine in Egypt.

Sukari gold mine

Mineral exploration firm Centamin has reported a 7% increase in its total gold production from Sukari gold mine in Egypt.

The increase shows gold production at 91,546oz for Q4 of 2013, compared to 85,413oz for the same period in 2012.

The result brings the company's full-year production to 356,943oz of gold, above its guidance by more than 36,000oz and a 36% increase on 2012.

Open pit total material movement decreased by 8% from Q3 to 9.6 million tonnes, and open pit ore production fell 7% in Q3 to 3.16 million tonnes.

The underground mine delivered 174,000t of ore, which was a 15% increase on the previous quarter.

The company said its quarterly throughput from the Sukari process plant was 1.4 million tonnes, a 12% increase on the previous year but a 4% decrease on the previous quarter. This exceeds the nameplate annualised rate of 5 million tonnes for the fourth successive quarter with continued high levels of productivity and availability.

Sukari produced 150,000oz of gold in its first year of production in 2010 and has since expanded to more than 260,000oz in 2012.

The Stage four plant expansion programme started in 2011 and has a production target of 450,000oz to 500,000oz per annum, from 2015 onwards.

The Sukari gold project is located in the eastern desert of Egypt about 23km south-west of Marsa Alam, a coastal town near the Red Sea.

The operating company Sukari Gold Mines is jointly owned by Centamin's subsidiary, Pharaoh Gold Mines NL, and the Egyptian Mineral Resource Authority on a 50% each basis.


Image: The Sukari project is Egypt's first large-scale gold mine. Photo: courtesy of Centamin Egypt Limited.

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