Cairo – Mubasher: Gold miner Centamin announced that profit share payments to Egypt registered $39.4 million during the first half of 2019.
In addition, the Egyptian government also earned $8.8 million in royalties, falling by 2% year-on-year from H1-18, according to statement.
The company aims to produce between 490,000 and 520,000 ounces of gold at a cost of $675 to $725 per ounce in 2019, registering $890 million to $950 million after all sustaining costs.
During 2020 and 2021, the gold miner targets to increase production to between 510,000 and 540,000 ounces of gold per year.
In 2018, production from Centamin’s flagship Sukari mine in Egypt fell by 13% year-on-year to around 472,400 ounces from 544,658 ounces a year earlier.
