6 key facts about the Sukari gold mine

1. Largest Gold-Producing Mine in Egypt
   The Sukari Gold Mine is Egypt's only large-scale modern gold operation and remains the largest in the country. It has produced over 5.9 million ounces of gold since it began production in 2009, making it a cornerstone of Egypt’s mining industry.

2. Significant Boost in Production and Revenue
   In Q3 2024, Sukari saw a 30% year-over-year increase in gold production, reaching 131,700 ounces. This rise contributed to Centamin’s substantial revenue growth, with earnings for the quarter hitting $368.6 million—an impressive 84% increase from the same period last year.

3. Long-term Resource and Exploration Potential
   The mine currently has a projected life of at least 13 more years and an estimated total gold resource of 11.11 million ounces. Centamin has also acquired additional exploration licenses covering over 3,000 square kilometers across Egypt, which could extend the mine’s life and boost production further.

4. New Ownership Structure on the Horizon
   AngloGold Ashanti’s recent $2.5 billion acquisition of Centamin, which is pending final approvals, is set to make AngloGold the fourth-largest gold producer globally. This acquisition will bring Sukari under AngloGold’s management, potentially increasing their annual production by around 450,000 ounces.

5. Commitment to Sustainability and Local Employment
   Sukari operates with a workforce of approximately 3,795 people, with 95% being Egyptian nationals. The mine also features sustainable infrastructure, including a solar power system and a 25-kilometer water pipeline from the Red Sea, showcasing its commitment to responsible mining and regional development.

6. Strategic Importance and Operational Efficiency
   Sukari is strategically positioned with direct access to good road networks and operates as a low-cost bulk tonnage mine. With both open-pit and high-grade underground mining operations, Sukari remains one of the most efficient gold mines in the region, focusing on producing profitable ounces through cost controls and productivity improvements.

The Sukari Gold Mine stands as a vital asset in Egypt’s mining sector, contributing to local employment and economic stability while presenting significant future potential under its new ownership.