REG - Centamin PLC - 2021 Sustainability Report

CentaminAnnouncement

27/04/2022 07:00

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RNS Number : 4158J  Centamin PLC  27 April 2022

27 April 2022

Centamin plc

("Centamin" or "the Company" or "Group", including its subsidiaries)

LSE: CEY / TSX: CEE

 

2021 Sustainability report
for the twelve months ended 31 December 2021

Centamin announces the publication of its Sustainability Report for the twelve
months ended 31 December 2021. The report sets out how we manage and integrate
sustainability across our business and our performance at a Group and
operational level.

This is Centamin's fifth annual Sustainability Report produced 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 our
first report to address the recommendations of the Taskforce on
Climate-related Financial Disclosures ("TCFD"). The report is available on the
Company's website www.centamin.com/investors/results-reports/
(http://www.centamin.com/investors/results-reports/) .

MARTIN HORGAN, CEO commented: "2021 will be viewed as a transformational year
for the Company as we have sought to put in place strategies and plans that
provide the foundation for our long-term success.  Environmental, social and
governance considerations have been placed at the centre of our decision
making and planning as they are integral to our future.

I am delighted to report that we made record improvements in health and safety
performance and had no reportable incidents. We reduced both our LTIFR and
TRIFR by over 40% compared to 2020 and achieved a record five million LTI-free
hours.

In 2022, we will set out a climate change strategy that will set an ambitious
science-based target for carbon reduction by 2030 and one that strives to
align with a trajectory of emission reduction to net-zero by 2050. We are
already implementing a number of key projects that will reduce our carbon
footprint, including the solar power plant project that is due to be
commissioned in H2 2022."

HIGHLIGHTS

·      Continued reinforcement of health and safety practices resulted in
zero fatalities, a 45% year-on-year improvement in LTIFR and 43% improvement
in TRIFR.

·      Strong levels of local content with 95% of our workforce employed
locally and 60% of the total Sukari procurement spend is with national
suppliers.

·     Continued implementation of our professional development framework
for all employees resulted in a 130% increase in total training hours to 27
hours per employee. At Sukari 70% of leadership roles are now held by Egyptian
nationals, an increase from 65% in 2020.

·      We welcomed our first female employees at Sukari and initiated
the integration of women to the workforce.

·     Climate change disclosures aligned to TCFD recommendations and
initiation of a decarbonisation strategy that will set ambitious science-based
targets for carbon reduction by 2030. Sustained zero reportable environmental
and community incidents across the Group and no issues of regulatory
non-compliance reported.

·      Independent technical review of our tailings storage facilities
against the applicable design standards and the GISTM, which confirmed the
operational and structural integrity of the facilities.

·     Construction of the Sukari 36MW hybrid solar project is progressing
towards commissioning in H2 2022. The project is expected to reduce diesel
fuel consumption by an estimated 20 million litres per annum and lower carbon
emissions by 15% across the Group.

·    COVID-19 protocols remain in place to ensure the continued
management of the risks associated with the pandemic. The Company continues to
safeguard the workforce, local communities and secure the operations. In
excess of 90% of Group employees are now vaccinated.

 

 

Performance Summary

                                Units                          FY21     FY20     % Δ
 HEALTH, SAFETY & WELLBEING
 LTIFR                          per 1m hours worked            0.46     0.84     -45%
 TRIFR                          per 1m hours worked            3.01     5.16     -42%
 Fatalities                     workforce                      0        0        0%
 Reported hazard close-out      Average number of days         6.8      10.5     -35%
 OUR PEOPLE
 Total workforce                employees and contractors      4,388    3,133    40%
 Local workforce                % of total employed            95%      95%      0%
 Local leadership               % of total leadership team     70%      65%      8%
 Workforce development          Training hours per employee    27.3     11.9     130%
 SOCIAL & ECONOMIC PARTNERSHIP
 Community spend                US$ million                    0.33     1.16     -72%
 Local procurement              % of total procurement spend   60%      61%      -2%
 Community incidents            Reportable category 4 & 5      0        0        0%
 ENVIRONMENTAL RESPONSIBILITY
 Environmental incidents        Reportable category 4 & 5      0        0        0%
 Water reuse                    % of total water consumption   32%      29%      10%
 Scope 1 & 2 GHG emissions      tCO(2)-e                       484,081  427,752  13%

FOR MORE INFORMATION please visit the website www.centamin.com
(http://www.centamin.com)  or contact:

 Centamin plc                                                 Buchanan

 Michael Stoner, Group Corporate Manager                      Bobby Morse /Ariadna Peretz /James Husband

 investor@centaminplc.com (mailto:investor@centaminplc.com)   + 44 (0) 20 7466 5000

                                                              centamin@buchanan.uk.com (mailto:centamin@buchanan.uk.com)

 

ENDNOTES

Cost savings

Cost savings were calculated relative to the incumbent underground contractor
contract terms, all things being equal, and include the initial equipment
purchase required to maintain current production levels and future capital
cost estimates related to any near-term fleet replacement.

Guidance

The Company actively monitors the developments of the COVID-19 pandemic and
guidance may be impacted if the workforce or operation are disrupted.

Forward-looking Statements

This announcement (including information incorporated by reference) contains
"forward-looking statements" and "forward-looking information" under
applicable securities laws (collectively, "forward-looking statements"),
including statements with respect to future financial or operating
performance. Such statements include "future-oriented financial information"
or "financial outlook" with respect to prospective financial performance,
financial position, EBITDA, cash flows and other financial metrics that are
based on assumptions about future economic conditions and courses of action.
Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as "believes", "expects", "expected",
"budgeted", "forecasts" and "anticipates"." and include production outlook,
operating schedules, production profiles, expansion and expansion plans,
efficiency gains, production and cost guidance, capital expenditure outlook,
exploration spend and other mine plans. Although Centamin believes that the
expectations reflected in such forward-looking statements are reasonable,
Centamin can give no assurance that such expectations will prove to be
correct. Forward-looking statements are prospective in nature and are not
based on historical facts, but rather on current expectations and projections
of the management of Centamin about future events and are therefore subject to
known and unknown risks and uncertainties which could cause actual results to
differ materially from the future results expressed or implied by the
forward-looking statements. In addition, there are a number of factors that
could cause actual results, performance, achievements or developments to
differ materially from those expressed or implied by such forward-looking
statements; the risks and uncertainties associated with the ongoing impacts of
COVID-19 or other pandemic, general business, economic, competitive, political
and social uncertainties; the results of exploration activities and
feasibility studies; assumptions in economic evaluations which prove to be
inaccurate; currency fluctuations; changes in project parameters; future
prices of gold and other metals; possible variations of ore grade or recovery
rates; accidents, labour disputes and other risks of the mining industry;
climatic conditions; political instability; decisions and regulatory changes
enacted by governmental authorities; delays in obtaining approvals or
financing or completing development or construction activities; and discovery
of archaeological ruins. Financial outlook and future-ordinated financial
information contained in this news release is based on assumptions about
future events, including economic conditions and proposed courses of action,
based on management's assessment of the relevant information currently
available. Readers are cautioned that any such financial outlook or
future-ordinated financial information contained or referenced herein may not
be appropriate and should not be used for purposes other than those for which
it is disclosed herein. The Company and its management believe that the
prospective financial information has been prepared on a reasonable basis,
reflecting management's best estimates and judgments at the date hereof, and
represent, to the best of management's knowledge and opinion, the Company's
expected course of action. However, because this information is highly
subjective, it should not be relied on as necessarily indicative of future
results. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially
from those anticipated in such information or statements, particularly in
light of the current economic climate and the significant volatility,
uncertainty and disruption caused by the outbreak of COVID-19. Forward-looking
statements contained herein are made as of the date of this announcement and
the Company disclaims any obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise.
Accordingly, readers should not place undue reliance on forward-looking
statements.

LEI: 213800PDI9G7OUKLPV84

Company No: 109180

 

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