Centamin Egypt's production jumps in Q3

11th Oct 2011 07:18

Centamin Egypt, the gold mining company, says it has achieved a 67% increase in production at its main Sukari site.The Sukari mine, located in the eastern desert of Egypt, produced 50,539 ounces of gold in the quarter to the end of September, 67% more than the same time last year and a 5% rise on the previous quarter.A resumption of normal delivery systems and the issuing of blasting products to the mine in July saw the pit achieve more than 2.2Mt per month material movement for both August and September (compared with 1.2Mt in July).Centamin says it remains on track to reach target production of 200-210,000oz at a cash cost of approximately $550/oz in 2011. Josef El-Raghy, Chairman of Centamin, said: "The Company is pleased with the return to normal operations, the rapidly improving performance of the process plant and the consistent development and maturing of the underground operation, which positions Sukari well for a strong and consistent performance in the future." BS