Centamin Attained Fresh Safety Record at Sukari Gold Mine

SEATTLE (Scrap Monster): Centamin plc declared full year results for the 12-month period ended 31^st December, 2021.

The miner achieved new safety record at Sukari Gold Mine, recording 5.2 million lost time injury (LTI) free hours. The headline safety performance by the company witnessed further improvement during the year, with lost time injury frequency rate (LTIFR) recording 45% reduction over the previous year. The priority for safeguarding its employees, communities and operations, in the midst of persisting Covid-19 challenges across the globe, paid off well, said the company press release.

The company generated revenue of $733 million from gold sales of 407,252 ounces. The adjusted EBITDA stood at $329 million, at a margin of 45%. Centamin reported basic earnings per share of 8.8 cents per share.

Commenting on the results, Martin Horgan, CEO noted that the company safely delivered annual production and cost guidance along with making excellent progress on its key capital projects. 2021 had been a transformational year for the company, Horgan added.

Centamin expects 2022 gold production to range between 430,000 and 460,000 ounces. It anticipates all-in sustaining costs of $1,275-$1,425 per ounce sold. The capital expenditure for the year is likely to be around $225.5 million.

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