9th Oct 2013 08:14
LONDON (Alliance News) - Centamin PLC Wednesday said plant throughput and gold production increased at its Sukari Gold Mine in Egypt in its third quarter.
The mineral exploration, development and mining company with operations in Egypt and Ethiopia said gold production increased 39% to 84,757 ounces for the three months ended September 30 compared to 60,922 ounces in the previous year, though this was down from 93,624 in the second quarter of 2012.
The company said its open-pit ore production doubled to 3.4 million tonnes from 1.7 million tonnes and its underground ore production increased 39% to 152,000 tonnes from 93,000 tonnes leading to an increase in the company's stockpile at the site.
Centamin also said that its process plant throughput increased 46%, to 1.5 million tonnes from 1.0 million tonnes, leading to a 15% increased in process plant productivity to 715 tonnes per hour from 624 tonnes per hour.
The company also said it expects some impact to operations in its fourth quarter due to the start of its Stage 4 commissioning activities but that the company believes it will exceed its initial full year 2013 guidance of 320,000 ounces.
Centamin shares were up 0.4% to 45.21 pence in early trading Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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