Centamin targets 40 per cent rise in gold production at Sukari Mine
Egypt-focused gold mining company Centamin has unveiled predictions for gold production at its flagship Sukari Gold Mine during an on-site presentation to analysts on Thursday.
Egypt-focused gold mining company Centamin has unveiled predictions for gold production at its flagship Sukari Gold Mine during an on-site presentation to analysts on Thursday.
It forecast 367,187 ounces of gold would be produced at the site in 2013, 39.6% more than the 262,958 ounces mined in 2012.
The company, which faced a setback in 2012 when production was temporarily suspended at the mine, forecasted three years' of consistent and significant growth.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Pointing to significant potential for further reserve growth, the company stated that there were "numerous indications of high grade zones awaiting drilling as development improved access".
It added that the area underground at the Sukari site offered the potential to ultimately exceed 500,000 ounces of gold per annum.
In 2014, it is targeting 431,366 ounces. In 2015, 2016 and 2017 it is targeting 445,101 ounces, 502,086 ounces and 458,526 ounces of gold respectively.
MF
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
How inheritance tax trick is helping families save ‘six-figure sums’
Happy to skip a generation to save thousands on inheritance tax? A deed of variation could be the estate planning tool you need.
-
Nationwide: House prices unexpectedly dropped in August
House prices fell by 0.1% in August in a surprise drop, according to Nationwide, as “affordability remains stretched”