Global gold producer Centamin PLC has overcome problems in its prominent Sukari gold mine in Egypt, stating that its preliminary results for the fourth quarter of last year are at all-time high in production, recording 85,543 ounces — a 40 per cent increase compared to the third quarter.
The Australian-based company added that the result will bring full year production to 262,958 ounces, a 30 per cent rise on 2011 and above guidance levels of 250,000 ounces.
In 2011, gold production at the mine stood at 202,698 ounces, worth $556 per ounce, representing a 35 per cent increase on 2010 production.
The company was compelled to halt production in October and December of 2012 following disputes with the Egyptian government over diesel fuel supplies and gold exports.
Earlier this month, Egypt allowed Centamin to export a shipment of gold after blocking it for several weeks because it did not have the proper permits.
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