TIDMCEY
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/.
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) 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 36MWDC hybrid solar project, which will reduce diesel fuel consumption by an estimated 20
million litres per annum and lower carbon emissions by 60,000 tCO2-e.
Performance Summary
FY22 FY21 % <DELTA>
================================================================ ====== ====== ==========
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
or contact:
Centamin plc FTI Consulting
Alexandra Barter-Carse, Head of Corporate Ben Brewerton / Sara Powell
Communications / Nick Hennis
investor@centaminplc.com +442037271000
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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