Centamin increased profits in 2022 by 11% as gold production and sales from its Sukari mine in Egypt rose 6% and 8% respectively.
Revenues over the year were US$788mln with profits at US$171mln as gold sold increased 8% to 483,600oz at an average price of US$1,794.
The dividend for the year was 5c, costing US$58mln.
For 2023, Centamin is forecasting increased production of 450,000 to 480,000oz (441,000) and targeting lower all-in sustaining costs with a guided range of US$1,250-US$1,400 per ounce (US$1,399) sold.
Capital expenditure in 2023 will be similar to the past year at US$225mln, the miner added.
Martin Horgan, Centamin’s chief executive, commented the miner had made ‘great progress’ in the past twelve months.
"In 2022, the company delivered guidance for both production and costs, despite global inflationary headwinds, and invested US$224mln in capital projects at Sukari such as our flagship 36Mw Solar farm which is reducing both emissions and costs.
"In terms of growth, Sukari achieved its second successive year of reserve growth and across the wider portfolio, we commenced exploration work across our EDX portfolio in Egypt and progressed our Doporo PFS which is expected to be completed in the first half of 2023.“