Egypt Earns $130 Million from 2023 Sukari Goldmine Production

In 2023, the Egyptian government has garnered over $130 million from its share of the Sukari Goldmine (SGM) production, according to Amr Hassouna, Centamin's Country Manager. The government's share constituted 50% of the profits and 3% of total revenues from SGM. Hassouna expressed optimism about gold prices, anticipating a continued rise above $2,000 per ounce in the current year. Centamin reported SGM production of 450,058 ounces in 2023, generating $892 million in revenue from the sale of 456,625 ounces at an average realized gold price of $1,948 per ounce. For 2024, Centamin aims for gold production between 470,000 and 500,000 ounces annually.