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Centamin PLC - London-based gold producer with interests in Egypt, Burkina Faso and Ivory Coast - Reports potential to expand Sukari Gold mine in Egypt to 1.5 million tonnes per year of total ore mined. That would be an increase of 31% in ore mining rates from the current life of mine average of 1.1 million tonnes per year. The company aims to engineer and schedule the expansion in the first half of 2023, having already completed an independent option study carried out by Entech. Regarding project delivery time, Centamin targets a steady state for 2025.
"The expansion option that we are taking forward to the next phase of mine planning offers both low capital intensity and a lower level of execution risk," says Chief Executive Officer Martin Horgan.
Current stock price: 104.85 pence, down 1.1% on Tuesday
12-month change: down 0.4%
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