Centamin PLC REPLACEMENT: 2020 Sustainability Report (8232Y)

TIDMCEY

RNS Number : 8232Y

Centamin PLC

17 May 2021

The following amendment has been made to the '2020 Sustainability Report' announcement released on 17 May 2020 at 07:00am under RNS No 7553Y.

The change is on the 8th bullet regarding the 'Commenced construction of the Sukari 36MW hybrid solar project'. The Company will release its first annual report aligned to the Task Force on Climate-related Disclosures ("TCFD") in 2022, not 2021 as originally stated.

All other details remain unchanged.

The full amended text is shown below.

17 May 2021

Centamin plc

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

LSE: CEY / TSX: CEE

2020 Sustainability report

for the twelve months ended 31 December 2020

MARTIN HORGAN, CEO commented : "In 2020 we reinforced our efforts to put sustainability at the centre of our business strategy. Centamin recognises the business and societal importance in building a responsible culture that values and supports people, creating opportunities through jobs, infrastructure, education, as well as developing our assets and delivering strong shareholder returns.

I believe that the work completed over the last twelve months has underpinned our robust approach to sustainability and will support our long-term vision as a responsible miner creating tangible value for all our stakeholders. We have started this year a stronger, more resilient company, motivated and excited to deliver on our ambitious 2021 targets."

Centamin announces today the publication of its Sustainability Report for the twelve months ended 31 December 2020. The report sets out how we manage and integrate sustainability across our business and our performance at Group and operational level.

This is Centamin's fourth annual Sustainability Report produced in accordance with the GRI Sustainability Reporting Standards ("GRI") 'Core option', the GRI Mining and Metals Sector Supplement, and our first report to address, in part, the requirements of the Sustainability Accounting Standards Board ("SASB") for the metals and mining industry. The report is available on the Company's website www.centamin.com/investors/results-reports/ .

SUSTAINABILITY HIGHLIGHTS

-- No material disruptions due to the COVID-19 pandemic. The Company responded quickly to safeguard the workforce, local communities and secure the operations.

-- Established the Board-level Sustainability Committee and appointed a Group ESG Manager. For 2021, executive remuneration has been expanded to include more sustainability linked performance metrics.

-- Continued reinforcement of health and safety practices towards achieving our goal of zero harm, including the introduction of Critical Risk Standards.

-- Implemented our professional development framework for all employees, instilling a shared understanding of the critical behaviours required for successful performance at Centamin.

-- Strong levels of local content with 95% of our workforce employed locally; 67% of Sukari senior and middle management are held by Egyptian nationals; and 61% of the total Sukari procurement spend is with Egyptian national suppliers.

-- Reinforcement of performance standards within our supply chain relating to legal compliance, anti-corruption, human rights, health, safety, environment and social responsibility.

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

-- Commenced construction of the Sukari 36MW hybrid solar project. In 2022, the Company will release its first annual report aligned to the Task Force on Climate-related Disclosures ("TCFD").

-- Constructed and commissioned a second tailings storage facility at Sukari in line with international tailings standards of good practice. Commenced a review of operations in line with the Global Industry Standard on Tailings Management ("GISTM") and targeting compliance by 2023.

Performance Summary

 
                                    Units                            FY20    FY19    % change 
=================================  ===============================  ======  ======  ========= 
 HEALTH, SAFETY & WELLBEING 
------------------------------------------------------------------  ------  ------  --------- 
   LTIFR                            per 1m hours worked              0.84    1.43    (41%) 
   TRIFR                            per 1m hours worked              5.16    7.13    (28%) 
   Fatalities                       workforce                        0       0       0% 
 OUR PEOPLE 
---------------------------------  -------------------------------  ------  ------  --------- 
   Total workforce                  employees and contractors        3,133   2,556   23% 
   Local workforce                  % of total employed              95%     95%     0% 
   Local workforce is leadership    % of total leadership team       67%     59%     13% 
 SOCIAL & ECONOMIC PARTNERSHIP 
------------------------------------------------------------------  ------  ------  --------- 
   Community spend                  US$m                             1.16    0.59    97% 
   Local procurement                % of total procurement spend     61%     61%     0% 
   Community related incidents      Category 4 & 5 grievances        0       0       0% 
 ENVIRONMENTAL RESPONSIBILITY 
------------------------------------------------------------------  ------  ------  --------- 
   Environmental incidents          Reportable 4 & 5                 0       0       0% 
   Water reuse                      % of water used for operation    29%     44%     (34%) 
   GHG emissions intensity          CO2-e/kt milled                  37.1    33.9    9% 
=================================  ===============================  ======  ======  ========= 
 
   FOR MORE INFORMATION   please visit the website www.centamin.com or contact: 
 
 Centamin plc                                        Buchanan 
  Alexandra Barter-Carse, Corporate Communications    Bobby Morse / Kelsey Traynor 
  [phone]                                + 44 (0) 20 7466 5000 
  [e-mail]                               [e-mail] 
 

ENDNOTES

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. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "expected", "budgeted", "forecasts" and "anticipates". 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. 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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May 17, 2021 04:01 ET (08:01 GMT)