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Tuesday, 19th May 2009 (1040 views)

Gold production will start at the Sukari mine in Egypt this June.

According to state-owned news agency Mena, Egyptian minister of petroleum and resources Sameh Fahmy revealed that the first block of gold bullion will be produced at the property by owner Centamin Egypt next month.

Now at an advanced stage of development, the Sukari gold project is located in Egypt's Eastern Desert where mining operations commenced in February this year.

Mineral exploration and development firm Centamin Egypt recently upgraded the current reserve estimate for the Sukari mine to 6.4 million ounces and predicted that gold production would start during the second quarter of 2009.

Listed on the Australian Stock Exchange, the AIM Market of the London Stock Exchange and the Toronto Stock Exchange, the company has been exploring for gold in Egypt since 1995 and was granted a 160 sq km licence for the Sukari Hill gold project in 2005.

 

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