2021 Sustainability Report

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/ .

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	tCO2-e	484,081	427,752	13%

FOR MORE INFORMATION please visit the website www.centamin.com or contact:

Centamin plc Michael Stoner, Group Corporate Manager [e-mail]

Buchanan Bobby Morse /Ariadna Peretz /James Husband + 44 (0) 20 7466 5000 [e-mail]

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

 

END

 

 

MSCEALLKAADAEFA