REG - Centamin PLC - PUBLICATION OF 2022 SUSTAINABILITY REPORT

CentaminAnnouncement

25/04/2023 07:00

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RNS Number : 2873X  Centamin PLC  25 April 2023

25 April 2023

Centamin plc

("Centamin", "Group" or "the Company")

LSE: CEY / TSX: CEE

 

2022 Sustainability report
for the twelve months ended 31 December 2022

 

Centamin announces the publication of its 2022 Sustainability Report. The
report sets out how the Company manages and integrates sustainability across
the business, including our performance and targets. Centamin is committed to
meeting international standards of good practice across its sustainability
priorities: governance, safety, health and wellbeing, energy and climate,
materials stewardship, socio-economic partnership, people and transformation.
The report highlights the Company's ongoing progress against these areas and
the positive impact from its investment in Egypt.

This is Centamin's sixth 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
second report to address the recommendations of the Taskforce on
Climate-related Financial Disclosures ("TCFD").

The full report is available on the Company's website
www.centamin.com/investors/results-reports/.
(http://www.centamin.com/investors/results-reports/.%20)

MARTIN HORGAN, CEO commented: "The team at Centamin take pride in our
responsible approach to mining, setting the benchmark for sustainability
performance and good industry practice in Egypt. We are acutely aware of our
responsibility as an owner and operator of the Sukari Gold Mine ("Sukari") and
temporary custodians of the land. Our environmental programmes underpin this
commitment and in 2022 we set out our decarbonisation roadmap and ambitious
interim target of 30% reduction in our Scope 1 and 2 greenhouse gas emissions
by 2030. Commissioning of the Sukari 36MW solar plant marked tangible progress
towards that target and we are busy delivering and assessing further carbon
abatement initiatives.

Economic contribution to our host countries is fundamental to Centamin's
purpose. In 2022, Centamin distributed US$848 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, not least because of our partnership with the Egyptian
government but also because 96% of our workforce are Egyptian and 67% of
procurement spend is with Egyptian suppliers. By delivering on our promises,
we have established the credibility and capability to deliver on Centamin's
next phase of growth - a safer, smarter, more sustainable future that delivers
value for all our stakeholders."

HIGHLIGHTS

 * Continued reinforcement of health and safety practices resulted in zero
fatalities, an 83% improvement year-on-year in LTIFR and 13% improvement in
TRIFR

 * Strong levels of local content with 96% of our workforce employed locally to
the country of operation and 68% of the total Group procurement spend is with
national suppliers

 * Achievement of interim targets for gender diversity and inclusion at Sukari,
including 34 women employed at our sites in Egypt, up from 8 in 2021

 * Continued implementation of our professional development framework for all
employees at Sukari resulted in a 62% increase in total training hours to 44
hours per employee

 * Sustained zero reportable environmental incidents across the Group and no
issues of regulatory non-compliance reported

 * Published our decarbonisation roadmap (
LINK
(https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4267402&lang=en-GB&companycode=au-cey&v=)

) to 2030 targeting a 30% reduction in operational Scope 1 and 2 greenhouse
gas emissions ("GHG") and identifying several further abatement opportunities
under review, and

 * Commissioned the Sukari 36MW(DC) hybrid solar project, which will reduce
diesel fuel consumption by an estimated 20 million litres per annum and lower
carbon emissions by 60,000 tCO(2-)e.

Performance Summary

                                                               FY22   FY21   % Δ
 HEALTH, SAFETY & WELLBEING
 LTIFR (1m hours worked)                                       0.08   0.46   (83%)
 TRIFR (1m hours worked)                                       2.61   3.01   (13%)
 Fatalities (workforce)                                        0      0      0%
 OUR PEOPLE
 Total workforce (employees and contractors)                   5,211  4,388  19%
 Local workforce (% of total employed)                         96%    95%    1%
 Local leadership (% of total leadership team)                 76%    70%    9%
 Workforce development (training hours per employee)           44.3   27.3   62%
 Female representation in the workforce (% of total employed)  2.7    2.4    13%
 SOCIAL & ECONOMIC PARTNERSHIP
 Community spend (US$m)                                        0.6    0.33   82%
 Local procurement (% of total procurement spend)              68%    62%    10%
 Community incidents (recordable category 4 & 5)               2      0      200%
 ENVIRONMENTAL RESPONSIBILITY
 Environmental incidents (recordable category 4 & 5)           0      0      0%
 Water reuse                                                   37%    32%    16%
 Scope 1 & 2 GHG emissions (MtCO(2)-e)                         0.50   0.48   4%

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 over 5 million ounces of gold, and today has 6.0Moz
in gold Mineral Reserves. Through its large portfolio of exploration assets in
Egypt and Côte d'Ivoire, Centamin is advancing an active pipeline of future
growth prospects, including the Doropo project in Côte d'Ivoire, and has over
3,000km(2) of highly prospective exploration ground in Egypt's Nubian Shield.

Centamin recognises its responsibility to deliver operational and financial
performance and create lasting mutual benefit for all stakeholders through
good corporate citizenship, including but not limited to in 2022, achieving
new safety, commissioning of the largest hybrid solar farm for a gold mine,
sustaining a +95% Egyptian workforce and a +60% Egyptian supply chain at
Sukari.

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

 Centamin plc                                                       FTI Consulting

 Alexandra Barter-Carse, Head of Corporate Communications           Ben Brewerton / Sara Powell / Nick Hennis

 investor@centaminplc.com (mailto:investor@centaminplc.com)         +442037271000

                                                                    centamin@fticonsulting.com (mailto:centamin@fticonsulting.com)

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 direct or indirect
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, the
risks and uncertainties associated with the direct and indirect impacts 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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