Centamin cash flow vaults ahead of AngloGold deal
CENTAMIN generated $103m in third quarter free cash flow, an increase year-on-year of 730%, and kept gold production guidance unchanged at 470,000 to 500,000 ounces for the year…
AngloGold bids $2.5bn in cash and shares for Centamin
ANGLOGOLD Ashanti has launched a $2.5bn share and cash takeover of Centamin, the 470,000 ounce a year African gold miner. The offer, which has received the irrevocable support of…
Centamin interim dividend is despite slow start to 2024
CENTAMIN is to pay out 53% of interim cash flow after declaring a 2.25 US cents per share dividend. The payout is on the back of a strong second quarter recovery at Sukari, its…
Centamin to lodge mining licence for Doropo following DFS
CENTAMIN, the UK-listed gold miner, will lodge an application to mine Doropo, its proposed $373m project in Ivory Coast following completion of a definitive feasibility study…
Horgan sets out Centamin’s growth mandate for 2024
CENTAMIN, the Egyptian gold miner, has targeted gold production of 470,000 to 500,000 ounces for the 2024 financial year after meeting guidance last year and beating the firm’s…
Gold harder to find than ever before as junior sector ‘hurts’
DIGGING in Egypt’s Eastern Desert, 25km from the Red Sea, geologists for Centamin, a UK-listed gold miner, turned amateur archeologists when they stumbled on evidence of mining…
Centamin says Sukari production to rise in 2024
EGYPTIAN gold miner Centamin has targeted gold production of between 470,000 to 500,000 ounces for the 2024 financial year which it hoped to mine at an all-in sustaining cost of…
Centamin lifts Sukari’s life of mine gold output
CENTAMIN today published a new mine plan for its Sukari gold mine in Egypt in which production would average 506,000 ounces a year for the next nine years and contribute to a 5%…
Centamin’s consensus-beating six month performance provides evidence of turnaround
CENTAMIN provided further evidence of its turnaround under CEO Martin Horgan announcing interim numbers this week that beat cost and earnings consensus estimates. Production from…
Egypt to take 15% net profit share in new mining concessions
EGYPT today set down the terms of a new mineral exploitation regime in which it will issue 30-year exploration licences to miners on condition the state receives 15% of net…
Centamin estimates Doropo capex at $349m following prefeasibility finding
CENTAMIN said today its Côte d’Ivoire gold project Doropo would cost about $349m to build and produce an average of 173,000 ounces a year over its 10-year life at an average…
Centamin unveils 30% interim cut in GHG emissions for 2030
CENTAMIN today unveiled a decarbonisation programme aimed at cutting scope 1 and scope 2 greenhouse gases (GHG) 30% by 2030 through a combination of increased renewable energy,…
Centamin targets up to 9% increase in Sukari’s 2023 gold production
CENTAMIN forecast gold production for its 2023 financial year of between 450,000 to 480,000 ounces which, at the higher end of guidance, would represent a 9% advance on 2021,…
Horgan says Centamin share rerating is a platform for deals but dismisses “a spending spree”
CENTAMIN CEO Martin Horgan said a rerating in the company’s share price had created a platform for mergers and acquisitions, but he added that deals “were incredibly hard to…
Centamin given green light to appeal 2011 challenge to Sukari Concession Agreement
CENTAMIN, the UK listed gold producer, said today it would resume an appeal against the loss of a concession agreement that had been challenged by a third party in 2011. This was…
Centamin reports 13% increase in measured and indicated reserves at Egypt mine Sukari
CENTAMIN said it had increased measured and indicated reserves at its Sukari gold mine in Egypt for the second successive year including reserves in the open pit net of depletion…
Centamin delays Doropo findings as hopes rise for project capex reduction
CENTAMIN has delayed the publication of a prefeasibility study of its Doropo project in Côte d’Ivoire following an upgrade to its mineral resource and potential cost savings. An…
Centamin to boost Sukari underground mining rate in pursuit of 500,000 oz/year
CENTAMIN said it would press ahead with a $25m to $35m project aimed at increasing the underground mining rate of its Sukari mine in Egypt. The project will see the operation…
Centamin may tap into Egyptian power grid in order to end diesel fuel reliance
CENTAMIN is in discussion with the Egyptian government regarding supply of grid power to its Sukari gold mine that will enable the firm to entirely cut diesel consumption. Martin…
Centamin to assess M&A options after imposing stability on Egyptian mine, Sukari
CENTAMIN, the UK-listed gold producer, will turn its attention to potential merger and acquisition targets after stabilising its Sukari mine in Egypt. Martin Horgan, Centamin…