Centamin Egypt pumps US$607 million in Sukari Gold Mine

Gold miner Centamin Egypt has injected US$607 million worth of expansions into Egypt’s Sukari gold mine, general manager for Egyptian operations Youssef El-Raghy said Thursday.

Speaking to Amwal Al Ghad, El-Raghy stated that the total production in the Sukari mine currently amounts to 1.43 million ounces, or 44.5 tonnes.

Out of US$607 million investments, Centamin has spent US$16 million and US$331 million, respectively on the third and fourth phases of expansions works on the gold mine, he noted.

In addition, US$70 million were spent on explorations, US$94 million on the purchase of equipments to move rocks, and US$96 million on building infrastructure schemes.

Sukari Gold Mine is one of the 120 historic gold mines in Egypt’s Eastern Desert.

There are many areas in Egypt in which new mines could be discovered, and some of them may have the same volume of Sukari, El-Raghy noted.