Egypt-focused gold miner Centamin has revealed a more up-to-date five-year production plan for its flagship Sukari mine, which includes increased ore grades and mining rates.
"The open pit mine plan [previously released on March 14th] has been optimised to better reflect the expected increase in mining rates as additional mining equipment is delivered and commissioned along with the completion and commissioning of the Stage 4 expansion to double Sukari's processing capacity to 10 million tonnes per annum (Mtpa)," the company said in a statement on Wednesday morning.
Total mill production is expected to be 6.1Mtpa in 2013, rising sharply to 10Mtpa by 2017.
Subscribe to 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
Re-scheduling of waste and ore movements helped the group deliver more consistent grades from the open pit to the processing plant.
Total gold production is expected increase from 367,187oz in 2013 to 458,526oz by 2017. Recovery rates are expected to rise from 84.8% to 89.0% over the period.
BC
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
