Operational Overview

Operational Overview

Centamin aims to add value to the licence areas through exploration and development, in the same way as we have done at Sukari.

Our regional exploration in Ethiopia is focussed on our own licences in the northern Tigray region as well as licences held through a joint venture arrangement with AIM-listed Alecto Minerals plc.

Of the four licence areas located in the northern Tigray region of Ethiopia, only one remains active, the others having being impaired at the year end 2013 due to the presence of only low grade mineralisation.

The licence areas developed as part of the joint venture with Alecto Minerals plc are towards the south and west of Ethiopia in the Oromiya region and Benishangul Gumuz region.

A summary of the active licence areas are as follows:

Una Deriam – Northern Tigray Region (100% Centamin ownership);

Wayu Boda – Southern Licence (held pursuant to a JV arrangement); and

Aysid-Metekel – Western Licence (held pursuant to a JV arrangement).