Centamin raises estimates for gold reserve from Egypt’s Sukari mine by 10%

Updated 12/19/2023 2:09:00 PM
Centamin raises estimates for gold reserve from Egypt’s Sukari mine by 10%

Arab Finance: Centamin PLC has raised its gold reserve estimates from its Sukari gold mine in Egypt by 10% to 5.8 million ounces, Asharq Business reported, citing the gold miner.

The company stated that the improved geological understanding of Sukari mine’s conditions led to an increase in gold reserves by 500,000 ounces as compared to previous reserve estimates of 5.3 million ounces.

The company is planning to drill 285,000 meters at Sukari mine in 2024 to boost its resources and reserves.

It is worth mentioning, that Sukari mine’s gold production dropped by about 2.9% year on year (YoY) during the first nine months of 2023 to 321,930 ounces

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