LONDON: Centamin Egypt said it expects full-year production to come in at the lower end of its 250,000-290,000 ounce guidance after output in the first quarter was hit by supply problems.
It poured 45,204 ounces in the first quarter and said its Sukari operation remained largely unaffected by Egypt’s political unrest.
However, access to higher grade ore was hampered by delays in the delivery of blasting accessories. It now expects to mine and process this higher grade ore during the second quarter.
The gold producer said the supply interruptions had been resolved and that the mining component of the operation will return to full productive capacity in April.
Centamin, the only miner with significant operations in Egypt, said its ore processing activities had been unaffected by the political situation.
"The security of personnel, assets and tenure were never under threat by such events," said chairman Josef El-Raghy, adding the company continues to be confident about its current investment and operations in Egypt.
