00:50:03 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Centamin PLC
Symbol CEE
Shares Issued 1,158,432,695
Close 2024-03-27 C$ 1.90
Market Cap C$ 2,201,022,121
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Centamin talks 2023 sustainability work

2024-03-27 09:23 ET - News Release

Mr. Martin Horgan reports

CENTAMIN PLC ANNOUNCES 2023 ANNUAL REPORT AND SUSTAINABILITY REPORT

Centamin PLC has published its 2023 sustainability report in conjunction with the publication of the 2023 annual report. The reports are available on the company's website www.centamin.com/investors/results-reports/. The Annual General Meeting will be on 21 May 2024, hosted in Jersey. The notice of AGM will be posted to shareholders on 9 April 2024 and associated documents filed at that time.

Centamin's sustainability report sets out the company's framework for integrating sustainability into its business strategy and governance processes; and presents performance against sustainability targets at both a Group and asset-level. The sustainability priorities presented in the report remain clear and consistent, reflecting a continued focus on the most material topics to both Centamin and its stakeholders. These priorities include: environmental and social governance; safety, health and well-being; energy and climate; materials stewardship; socio-economic partnership; and, people and transformation. The report highlights the company's achievements in each of these areas and the positive impact arising from its investments in Egypt and Cote d'Ivoire.

Martin Horgan, CEO commented: "We are pleased to align the publication of the 2023 annual report with the sustainability report for the first time, integrating sustainability metrics into our annual reporting cycle.

Our team takes pride in our responsible approach to mining, setting the benchmark for sustainability performance and good industry practice in Egypt. Enhancing the socio-economic contribution to our host countries is fundamental to Centamin's purpose. In 2023, Centamin distributed US$984 million in economic value, from operating costs and employee wages, to capital expenditure, as well as profit share and royalty payments. The vast majority of this value distribution remained in Egypt, by virtue of our partnership with the Egyptian government and our high level of national employment and procurement.

Through 2023 we continued to deliver against our sustainability targets with improved performance across our priority metrics. I am proud to report significant progress on numerous long-term programmes most notably: ISO 45001 certification at Sukari; a marked reduction in Group Scope 1 and 2 greenhouse gas ("GHG") emissions; and an increased level of conformance of our tailings management system to the Global Industry Standard on Tailings Management ("GISTM").

Looking ahead to 2024, the grid connection project will continue our recent success in delivering our near-term decarbonisation targets, while also taking costs out of the business. We will also continue to increase our conformance to the GISTM, targeting full conformance during 2025."

HIGHLIGHTS

  • 9.5 million hours worked at the Sukari Gold Mine ("Sukari") with zero lost time injuries ("LTI"). The Group lost time injury frequency rate ("LTIFR") of 0.08 was an 83 per centimprovement on the 3-year trailing average. Total recordable injury frequency rate ("TRIFR") of 2.83, representing a 24 per centimprovement on the 3-year trailing average.
  • Sustained zero reportable environmental and social incidents across the Group and zero instances of regulatory non-compliance reported.
  • A 7 per centreduction in Scope 1 and 2 GHG emissions compared to a 2021 base year, driven primarily by a 21.5 million litre reduction in diesel consumption during the first full year of solar power generation.
  • Advanced development of carbon abatement projects in support of the 2030 Decarbonisation Roadmap (link to RNS here), notably a 50MWAC grid connection and 15MWAC solar plant expansion.
  • Strong levels of local content with 95 per centof our workforce employed locally to the country of operation and 81 per centof the total Group procurement spend is with national suppliers.
  • Sustained commitment to provide professional development opportunities that empower our employees to fulfil their potential. For the Group, 76 per centof senior and middle management roles are held by nationals; and at Sukari, 67 per centof employees were assessed to have met training requirements for progression to a higher level of competency.
  • Systematic gap analysis complete against the requirements of the GISTM and roadmap in place to achieve full conformance during 2025.

REPORTING STANDARDS

The sustainability report has been prepared in accordance with the GRI Sustainability Reporting Standards ("GRI") 'Core option', the GRI Mining and Metals Sector Supplement, the requirements of the Sustainability Accounting Standards Board ("SASB") for the metals and mining industry and the recommendations of the Taskforce on Climate-related Financial Disclosures ("TCFD"). The report also provides a statement of our conformance to the Global Industry Standard on Tailings Management ("GSITM").

ABOUT CENTAMIN

Centamin is an established gold producer, with premium listings on the London Stock Exchange and Toronto Stock Exchange. The company's flagship asset is the Sukari Gold Mine ("Sukari"), Egypt's largest and first modern gold mine, as well as one of the world's largest producing mines. Since production began in 2009 Sukari has produced 5.7 million ounces of gold, and today has a projected mine life to 2034.

Through its large portfolio of exploration assets in Egypt and Cote d'Ivoire, Centamin is advancing an active pipeline of future growth prospects, including the Doropo project in Cote d'Ivoire, and over 3,000km2 of highly prospective exploration ground in Egypt's Arabian Nubian Shield.

Centamin practices responsible mining activities, recognising its responsibility to deliver operational and financial performance and create lasting mutual benefit for all stakeholders through good corporate citizenship.

We seek Safe Harbor.

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