Centamin is well positioned amongst intermediate gold producers to generate significant capital returns for shareholders. Our clear strategic focus is to generate long-term value and returns from operating quality assets, producing profitable ounces, improving margins and maximising cash flow through financial discipline.
Centamin has developed, operated and grown the Sukari Gold Mine into a world-class asset and a first of its kind in Egypt. Sukari is a Top 10 Tier 1 global gold asset with base case production greater than 500,000 ounces per annum, a life of mine greater than 15 years and a cost profile in the lowest half of the cost curve.
FOUNDATION
- Ten-year operational track record
- Group reserves and resources: 15.3Moz mineral resource, including 7.0Moz in reserves
- Foundation for local employment
- Strong political risk management
- Strong balance sheet underpins resilience & financial flexibility
GROWTH & DIVERSIFICATION
- Sukari Life of Asset review underway, identifying areas for mining and processing optimisation
- Cost-saving opportunities through the integration of solar power
- Significant resource upside across the asset portfolio
- Active assessment of sensible value-creating M&A opportunities
Low-cost, long-life asset supports sustainable stakeholder returns:
- Approximately US$590m distributed in profit share and royalties to the Egyptian government
- Approximately US$640m distributed to Centamin shareholders
- Sector-leading dividend per gold ounce produced (2019)
- Substantial local employer
- Active engagement and investment in developing our local communities
Our robust financial strategy and operational performance support our commitment to shareholder returns:
- Maintain a strong, flexible balance sheet with no debt or no hedging
- Self-funded organic growth: reinvestment to sustain and grow the asset base for the future
- Stringent cost management and disciplined capital allocation
- Significant direct investment in the operating country
- Sustainable dividend policy underpinned by free cash flow generation
Strong license to operate with environmental, social and governance at the core of our decision-making:
- Health, safety and wellbeing of our workforce is our top priority
- Completed a 2yr Board refreshment and step-change in the leadership team
- Strong emphasis on workplace training and development
- Near-term plans to construct the largest solar solution of its kind to power a gold processing plant, providing a partial power solution, reducing demand for fossil fuels
- Substantial social and economic contribution, including profit share and royalty payments to our host country government
- Committed to achieving ESG best practices
