Centamin halts mining at Sukari high-grade area

Considered a preventive measure to safeguard the health and safety of the workforce and long-term potential of Sukari, Centamin will also lower its 2020 guidance and an updated mine plan for future years will be included in the life-of-asset (LOA) review.

Measures to stabilise movement in the affected area have already been implemented, and the miner has started a geotechnical assessment, which is focusing on developing a plan to mine the impacted area.

The high-grade Stage 4 west wall was scheduled to be mined during the fourth quarter of the year and contains about 90 000 oz of gold at grades of up to 2 g/t gold.

Mining of the impacted high-grade material will now be rescheduled.

Openpit mining at Stage 4 North and Stage 5 North will continue, albeit at grades of less than 1g/t gold.

Preliminary gold production for the three months ended September 30 was about 120 000 oz, bringing production for the nine months to about 375 000 oz.

While the precise impact has yet to be fully determined, Centamin`s preliminary estimate is that production for the fourth quarter will be reduced to about 70 000 oz.

Centamin will release its quarterly report for the third quarter on October 21, and the preliminary conclusions of the LOA review by year-end.