Centamin topline up 19% y-o-y in 3Q 2022

Gold miner Centamin’s revenues rose 19% y-o-y to USD 218.1 mn in 3Q 2022 despite a 3% y-o-y fall in gold prices, driven by lower costs, a 22% rise in sales volume, and higher production, according to the company’s earnings release (pdf).

Going solar: Centamin’s solar facility at the Sukari mine is in the final stage of commissioning and, at current prices, will save the company USD 20 mn a year on fuel. The company has invested USD 40-45 mn in the installation, Country Manager Amr Hassouna reportedly told Al Mal.