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Egypt's biggest gold mine production up compared to 2012

Centamin PLC reports second quarter gold production from Sukari to be 39% up from 2012's corresponding quarter

Ahram Online, Tuesday 9 Jul 2013
Sukari gold mine (Photo: Reuters)

Global gold miner Centamin PLC announced preliminary production results from its Egypt Sukari mine for the second quarter of 2013 on Tuesday, recording a 39 percent rise compared to 2012’s corresponding quarter.

The total gold production of Sukari, located in Egypt's eastern desert, records 93,624 ounces in the quarter that ended in June according to Centamin.

According to the Australia-based company, Sukari’s production forecast for 2013 remains unchanged, standing at 320,000 ounces worth some $224 million. The mine produced a total of 262,958 ounces of gold in 2012.

In May a court in the Red Sea city of Hurghada ordered Centamin-Egypt to reinstate seven workers sacked last year.

In March, the Egyptian Supreme Administrative Court suspended a court verdict that cancelled the contract between the government and Centamin.

The court upheld the 2004 contract between the government and Centamin.

The company hopes for an output of 450,000 to 500,000 ounces of gold per annum by 2015 from the Sukari site.

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