Centamin plans to increase Sukari's gold production by 15 percent until 2032

Centamin, which operates the Sukari mine, expects it to produce an average of 475,000 ounces per year for the remaining two years until the end of the mine's productivity life in 2034.

"The new life of mine plan demonstrates our commitment to maximizing cash flows. It not only represents a significant improvement over previously published plans but also includes lower operational risks compared to the past and achieves a notable reduction in carbon emissions," said Martin Horgan, the CEO of Centamin.

Sukari is Egypt’s first large-scale modern mine and started production in 2009.

From then to 2022, the mine's total production reached five million ounces of gold. The mine still has 11.11 million ounces of reserves.

Egypt's gold production amounts to about 15.8 tons per year, most of which comes from Sukari in the Eastern Desert, according to a report by the World Gold Council.