Centamin sees production rise

Gold producer Centamin has posted a 10 per cent rise in fourth-quarter output, boosted by higher production rates at its flagship Sukari project. Egypt-focused Centamin was hit in the second quarter by local restrictions on blasting, which, along with supply disruptions in the first quarter, forced the company to reduce its 2011 production guidance to 200,000-210,000 ounces. The miner said it produced 58,965 ounces in the fourth quarter of 2011, taking full-year gold production to 202,698 ounces, up 35 per cent. Sukari, the first modern gold mine in Egypt, is in the Eastern Desert, some 25 km from the Red Sea coast.