Centamin Q2 Gold output hits new record

PERTH (Scrap Monster): Gold miner Centamin Plc (LSE: CEY, TSX: CEE), said that its gold production from Sukari Gold Mine in Egypt advanced 40% year-on-year to a record 67,422 ounces in the second quarter this year and up 37% compared to Q1 2012.

Record production was achieved as a result of a strong performance on all key operating metrics.

Quarterly throughput in the Sukari process plant was 1,269kt, a 49% increase on the corresponding quarter in 2011 and a 24% increase on Q1 2012, as the plant delivered a record quarter and continued to operate at and above the 5 million tonne per annum run rate.

The open pit delivered total material movement of over 6,579kt and underground ore production for the quarter increased to 117kt, a 63% increase on Q1 2012 and a 172% increase on Q2 2011.

With higher material movements from the open pit, the run of mine ore stockpile balance increased by 278kt to 497kt by the end of the quarter.