Sukari Mine Hits 232,000 oz Gold Output in H1, On Track for 2026 Target

Wed Aug 05 2026

Sukari Gold Mine, jointly owned by the US-based AngloGold Ashanti and the Egyptian government, produced 232,000 ounces (oz) of gold in the first half of 2026, keeping production firmly on track to meet its full‑year target of 500,000 ounces. That target would match the record output achieved in 2025.

Moreover, output of the mine, the largest in Egypt and the whole MENA region, is set to rise sharply in the second half of the year as operations move into higher‑grade ore zones, boosting volumes and reinforcing Sukari’s position as one of the region’s leading gold producers, noted a press release by AngloGold.

Globally, gold miners faced mounting cost pressures in the first half of 2026, as higher royalties linked to rising bullion prices, broad inflation, and a 45% year‑on‑year surge in Brent crude during the second quarter squeezed margins.

Reflecting those market dynamics, and a deliberate step‑up in long‑term capital spending, Sukari’s all‑in sustaining costs climbed to $1,434 per ounce, compared with $1,068 a year earlier. The figure covers operating and administrative expenses alongside sustaining capital and exploration, highlighting both global headwinds and the mine’s strategic investment drive.

Capital spending at Sukari rose to $177 million in the first half of 2026, up from $125 million a year earlier. Stronger global gold prices helped support the reinvestment push.

Plans under review include upgrading the mining fleet, speeding up waste stripping and improving the processing plant to lift recovery rates. “The Sukari orebody is still open, with clear potential to add ounces,” noted the press release.

The press release added that beyond Sukari, AngloGold Ashanti’s exploration team is pushing into Egypt’s Eastern Desert, where it sees scope for several more world‑class gold finds. The company’s release pointed to Egypt’s rich geology, strong universities, skilled local workforce and a steadily improving regulatory framework as foundations for future investment.

AngloGold Ashanti acquired its stake in Sukari in 2024 through its acquisition of an Egypt-focused gold mining company, Centamin, and has since worked with Egypt’s Mineral Resources and Mining Industries Authority (MRMIA) to expand production and extend the mine’s operating life. It is an independent, global mining company with a diversified portfolio of operations, projects, and exploration activities across ten countries.

Source: https://egyptoil-gas.com/