Sukari mine

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Sukari mine
Location
Sukari mine is located in Egypt
Sukari mine
Sukari mine
Red Sea Governorate
Country Egypt
Coordinates 24°57′25″N 34°42′36″E / 24.95694°N 34.71000°E / 24.95694; 34.71000Coordinates: 24°57′25″N 34°42′36″E / 24.95694°N 34.71000°E / 24.95694; 34.71000
Production
Products Gold
Production 420,000 oz/y
History
Opened 2009
Owner
Company Centamin

The Sukari mine is the first modern gold mine in Egypt.[1] The mine is located in the south-east of the country in the Red Sea Governorate.[2] It is a combination of an open-pit mine and an underground mine, with estimated reserves of 15.4 million oz of gold.[2] Production began in 2009 with 850 workers. The initial yield was 2 g/t, with future yields expected to rise to between 5 g/t and 10 g/t.[3] In October 2012 owner Centamin's license for the Sukarim mine was annulled by an Egyptian court,[1] in December operations were suspended over a payment dispute and exports were halted.[4] Within a week significant parts of the disupte with the Egyptian bureaucracy were resolved and exports were resumed.[5] By 2014 production had risen to 250,000 oz in the first nine months, with a target figure for the entire year of 420,000 oz.[6]

References[edit]

  1. ^ a b Els, Frik (30 October 2012). "Investors flee Centamin after Egyptian court annuls gold concession". mining.com. 
  2. ^ a b "Sukari Gold Mine". centamin.com. 2013. Retrieved 2013-07-16. 
  3. ^ Creamer, Martin (11 February 2009). "Egypt's Sukari gold mine to begin producing 200 000 oz/y". Mining Weekly. 
  4. ^ Els, Frik (13 December 2012). "Centamin stock collapses after operations, gold exports halted by Cairo". mining.com. 
  5. ^ Jamasmie, Cecilia (18 December 2012). "Centamin’s stock recovers as gold export resumes". mining.com. 
  6. ^ Jamasmie, Cecilia (9 October 2014). "Centamin shares jump on Sukari gold mine results". mining.com.