Sukari Gold Mine records 8% increase in production during H1 of 2023

CAIRO - 26 July 2023: Production of Sukari Gold Mine increased by 8 percent during the first half of 2023 on a year-on-year basis, according to a report issued by the Australian company Centamin, the operator of the mine, on Wednesday.

 

The company's gold production from Sukari Gold Mine during the first half of 2023 reached 220.6 thousand ounces, compared to 203.9 thousand ounces during the same period of 2022.

 

Gold production from the company's mine also increased by 8 percent on a quarterly basis during the second quarter of 2023, reaching 114.7 thousand ounces compared to 105.9 thousand ounces during the first quarter of the year.

 

Centamin aims to produce a quantity of gold ranging from 450,000 to 480,000 ounces during the current year, according to the report.

 

During the first half of 2023, the Egyptian government received revenues of approximately $59 million from its share of the profits of Sukari Gold Mine and the royalties imposed on the company investing in it, as revealed in Centamin's report on its website.

 

In 2022, Production of the Sukari Gold Mine increased by 6 percent to 440,974 ounces, compared to 415,370 ounces in 2021, according to Centamin Company.

 

The gold mine recorded revenues of $788.4 million during 2022, compared to about $733.3 million in 2021, the company noted.