Egypt’s officials proud of the country’s sole gold-exporting mine

ArticleMining May 15, 2018 - 7:48:20 AM

The Managing Director of Sukari Gold Mining Company, Youssef el-Raghy, told Egypt Today that the first large-scale modern gold mine in Egypt has produced 106.7 tonnes of the yellow metal since it started operations in 2010.

In Q1 2018, the mine produced 124,296 ounces, some 30,000 ounces below Q4 2017 levels but a 14 per cent increase y-o-y.

“Production was below expectations due to a 23 per cent decrease in the average processed grade quarter on quarter resulting from lower than expected grades from the transitional zone, providing access to Stage 4A of the open pit.

Despite lower than expected grades mined from the open pit impacting production, improved productivity, higher recoveries, stringent cost control and a strengthening gold price all were marked contributions to the quarterly performance,” wrote in a previous report Andrew Pardey, CEO of Centamin, which owns the mine in equal parts with the Egyptian Mineral Resource Authority…

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