JOHANNESBURG (miningweekly.com) - Egypt-focused gold miner Centamin reported record production from its Sukari gold mine for the quarter ended December 2012, marking a 45% increase on gold production in the fourth quarter of 2011.
The miner’s preliminary production results for the period, released on Wednesday, revealed that total gold production for the quarter reached a record 85 543 oz, which was also a 40% increase on output in the third quarter of 2012.
This brought full-year production to 262 958 oz, 30% more than in 2011 and above its guidance of 250 000 oz.
Centamin indicated that ore tonnages mined and processed during the reporting period were within budget, despite the temporary suspension of operations in December as a result of illegal labour unrest, adding that openpit and underground grades improved in line with the mine plan.
Meanwhile, quarterly throughput at the Sukari process plant was 1 250 kt, a 17% increase compared with the corresponding quarter in 2011 and a 25% increase on the third quarter of 2012. This resulted in the nameplate-annualised rate being achieved.
Openpit total material movement of 6 739 kt was down 3% but ore production of 1 916 kt was up 16% compared with the third quarter.
Centamin also pointed out that the average grade of openpit ore milled increased steadily in line with budget and previous guidance.
The underground mine delivered 111 kt, up 19% on the third quarter of 2012; returning to budget productivity levels, as technical issues were resolved. The run-of-mine ore stockpile balance increased by 142 kt to 721 kt by the end of the quarter.
Centamin said gold exports continued during January and were expected to continue as and when required, despite ongoing delays by customs officials.
"Sukari has now delivered production growth over three consecutive years and we look forward to a further increase in 2013. While 2012 presented us with a number of challenges, we exit the year as forecast with a robust financial and operating base with which to continue delivering on our growth strategy," chairperson Josef El-Raghy said.