UK owner ramps up output at Egypt’s largest gold mine

UK owner ramps up output at Egypt’s largest gold mine

London Stock Exchange-listed Centamin expects annual gold production of between 470,000 and 500,000 ounces in 2024 from its flagship Sukari gold mine in Egypt. The annual output stood at 450,000 ounces in 2023. The company, which is based in Jersey and listed on the London and Toronto stock exchanges, reported that total revenue reached $892 […]London Stock Exchange-listed Centamin expects annual gold production of between 470,000 and 500,000 ounces in 2024 from its flagship Sukari gold mine in Egypt.

The annual output stood at 450,000 ounces in 2023.

The company, which is based in Jersey and listed on the London and Toronto stock exchanges, reported that total revenue reached $892 million last year, generated from sales of 456,625 ounces at an average price of $1,948 per ounce. The fourth quarter alone contributed $265 million. 

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“We look forward to 2024, guiding for another increase in annual gold production,” said Centamin CEO Martin Horgan.

“Combined with our disciplined approach to managing operating costs, we are extremely well-positioned to benefit from the current strong gold price environment as we complete our capex reinvestment programme and connect Sukari