Centamin expects Egypt’s Sukari to produce 500K oz in ‘24

Centamin Plc mining company is expecting a production capacity between 470,000 and 500,000-ounces (oz) by 2024 in its Sukari mine concession located in Egypt, Amwal Al Ghad Arabic reported on Monday.

“We look forward to 2024, guiding for another increase in annual gold production. Combined with our disciplined approach to managing operating costs,” Centamin CEO Martin Horgan said.

Horgan also added “our strategic focus remains on growth as we continue to define and convert resources to reserves at Sukari, build on our recent exploration success at Eastern Deseret Exploration (EDX)…”

Last week, the company reported an annual revenue of $892 million in 2023, while the total liquidity recorded $303 million including the undrawn $150 million sustainability-linked revolving credit facility.