The Sukari underground mine
London- and Toronto-listed Centamin has unveiled details of a new life-of-mine (LoM) plan for its Sukari gold mine, in Egypt, which will deliver consistent gold production of 506 000 oz/y over the next nine years at an all-in sustaining cost (AISC) of $956/oz.
The company states that the new robust long-term plan for Sukari, from 2024 to 2034, reduces the mine's operating risk, as well as its carbon emissions.
"This plan is not only a substantial improvement on what was previously published but, importantly, it incorporates significantly lower operational risk and delivers improved carbon abatement. This revised plan underpins our strategy to maximise the value of Sukari as the foundation for growth and diversification balanced with stakeholder returns," says CEO Martin Horgan.
The new LoM plan delivers long-term increased gold production, lower operational costs, reduced operational risk and significantly reduced carbon emissions through a combination of an improved openpit schedule; an increased underground schedule; connection to the Egyptian national grid, delivering an estimated $41-million a year in cost savings based on current diesel prices; and integration of a gold gravity circuit to the processing plant.
Centamin notes that the average yearly LoM greenhouse-gas (GHG) intensity of 0.69 t of carbon dioxide equivalent per ounce of gold is about 39% lower than the GHG intensity of 1.14 t of carbon dioxide equivalent per ounce achieved in the 2022 financial year.
Further, the gold miner sees opportunity to extend the LoM further, beyond 2034.
Meanwhile, the company is also planning to expand the existing 30 MW solar power plant at Sukara to between 45 MW and 50 MW.
A feasibility study is currently under way to identify the optimal location of the facility on the mining lease and define the optimal integration strategy with the current solar facility and future grid connection, Centamin says.
Centamin maintains its production outlook for the full year at between 450 000 oz and 480 000 oz, at an AISC of $1 250/oz to $1 400/oz.