Arab Finance: Production from the Sukari gold mine, Egypt’s first large-scale modern mine, hit 450,058 ounces in 2023, compared to 440,974 ounces in 2022, Centamin PLC revealed in its unaudited quarterly report issued on January 18th.

The production of the mine during the fourth quarter (Q4) of 2023 reached 128,127 ounces, compared to 109,564 ounces in Q4 2022.

The company’s revenue of $892 million in 2023 was generated from the sale of 456,625 ounces of gold at an average realized gold price of $1,948 per ounce.

As for 2024 guidance, Centamin targets gold production of 470,000 to 500,000 ounces per annum.

In December, it was reported that Centamin raised its gold reserve estimates from the Sukari gold mine in Egypt by 10% to 5.8 million ounces, with plans to drill 285,000 meters at the mine in 2024 to boost its resources and reserves.

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