ArabFinance: Centamin, which operates Egypt's sole commercially producing gold mine, reported a 58% jump in gold production for the fourth quarter as the Egypt-focused miner benefited from higher-grade ores, while keeping its 2022 projections for gold output and capital expenditure unchanged, Reuters reported.

The company said that production reached 107,549 ounces during the three months ended December 31st.

The company last month said a review of its Sukari gold mine in Egypt indicated the largest reserve growth in a decade, supporting its plan to produce 500,000 ounces per annum of the metal over the next 10 years.

The review was aimed at assessing additional opportunities and targeted at improving costs and productivity.

"2021 has been characterised by solid delivery against our stated plans and completion of the Sukari Life of Asset study, confirming the high-quality and long life of the mine," CEO Martin Horgan commented.

The company's full-year gold output was in line with its expectation of 415,370 ounces.

In 2022, Centamin aims to produce 430,000 to 460,000 ounces of gold with a capital expenditure of $215 million.

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