Centamin Announced Fresh Plans for Sukari Gold Mine

SEATTLE (Scrap Monster): Centamin plc. announced new ambitious plans for Sukari gold mine.

The new plan will boost average annual production from the mine to levels of around 506,000 ounces at an all-in sustaining costs (AISC) of less than $1,000 per ounce over the period of next nine years, thus placing the mine in the bottom half of the global cost curve. Furthermore, it will push the total gold production by nearly 5% over the mine’s eleven-year life, the company press release said.

Commenting on the 2023 outlook, the company stated that it continues to maintain 2023 gold production guidance at the range of 450,000 to 480,000 ounces, targeting the lower end of the range. The AISC guidance is maintained in the range of US$1,250-1,400/oz sold, targeting the midpoint of the range.

Martin Horgan, CEO noted that the new life of mine plan re-establishes Sukari as a global tier one gold asset. The plan is a substantial improvement on what was previously published. More importantly, it incorporates significantly lower operational risk and delivers improved carbon emissions. Moreover, the revised plan underpins the company’s previously announced strategy to maximise the value of Sukari, he added.