Centerra 2020 production beats guidance
Canadian gold miner Centerra Gold has exceeded the upper end of its consolidated gold production guidance, with output of 824 059 oz in 2020.
The Kumtor mine, in Kyrgyzstan, produced 56 136 oz, the Mt Milligan mine, in Canada, produced 161 855 oz and the Öksüt mine, in Turkey, produced 106 068 oz.
During the last quarter, the TSX-listed company produced 172 446 oz of gold.
Centerra also reported copper production of 20.4-million pounds in the fourth quarter and 82.8-million pounds for the full year of 2020, each within guidance range.
In terms of production costs, the miner reported gold falling within the yearly guidance range of $410/oz to $460/oz. All-in sustaining costs on a by-product basis sold, however, are expected to be below the lower end of the yearly guidance range of $740/oz to $790/oz.
Centerra president and CEO Scott Perry commented that the company’s operations had strong operating performance and that Centerra’s newest mine – the Öksüt mine – exceeded its yearly gold production guidance.
Öksüt’s first gold pour was January 31, 2020 and it achieved commercial production on May 31, 2020.
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