Sukari mine exports 404kg of Egypt’s gold to Canada

CAIRO – 29 November 2017: Around 404 kilograms of gold from Sukari gold mine were exported to Canada through Cairo International Airport, to be sold in international markets.
The gold quantities came from Marsa Alam in 22 boxes and left the airport on Gulf Air.

Sukari mine produced a total of 95.3 tons of gold since it started operating in January 2010, with an average monthly production spanning between 1.2-1.5 tons of gold.

"The Sukari gold mine targets producing 600,000 ounces of gold in 2018, up from 540,000 ounces in the current year," Chairman of mineral exploration and mining company Centamin Egypt Youssef el-Raghy said in November.

Speaking to Egypt Today, Raghy said that the Sukari gold mine has produced 390,000 ounces so far in 2017, which is 72 percent of the targeted number.

In the third quarter of 2016, Centamin achieved $75.5 million in profits before taxes, out of $93.7 million in total profits. Centamin is dual listed on the London and Toronto stock exchanges. The mine’s exports represent around 2 percent of Egypt’s exports.