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Centamin's Q3'19 gold output dips 17% YOY on reduced mining rates at Sukari

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Centamin's Q3'19 gold output dips 17% YOY on reduced mining rates at Sukari

Centamin PLC's Sukari gold mine in Egypt produced 98,045 ounces of gold in the third quarter, a 17% drop on a yearly basis, while year-to-date production decreased by 1% to 332,141 ounces.

Gold sold from the operation during the quarter inched up 2% year over year to 108,826 ounces, while sales for the first nine months of the year decreased 1% to 332,955 ounces, according to an Oct. 23 release.

Centamin expects to achieve the bottom end of its full-year output forecast of 490,000 to 520,000 ounces, with all-in sustaining costs per ounce of US$890 to US$950.

Earlier in October, the company said it expected to produce 97,000 to 98,000 ounces of gold in the third quarter as output was behind expectations due to reduced open pit mining rates in a higher-grade area of the Sukari operation.