Centamin

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Centamin plc
Type Public limited company
Traded as LSECEY, TSXCEE
Industry Gold mining
Founded 1970
Headquarters Mount Pleasant, Western Australia
Key people Josef El-Raghy (Chairman & Interim CEO)
Revenue US$503.8 million (2013)[1]
Operating income US$235.0 million (2013)[1]
Net income US$184.0 million (2013)[1]
Website www.centamin.com

Centamin plc (LSECEY, TSXCEE) is a gold mining company focused on the Arabian-Nubian Shield. It has offices in London, UK; Mount Pleasant, Western Australia; and Alexandria, Egypt. Its registered office is in Jersey. It is listed on the London Stock Exchange and the Toronto Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

Centamin was first listed on the Australian Stock Exchange in 1970.[2] In 1999 it acquired Pharaoh Gold Mines, a company which has been exploring for gold in Egypt since 1995, and became "Centamin Egypt".[2] The Company was granted a 160 square kilometre exploitation lease over the Sukari Gold Project in the eastern desert of Egypt in 2005.[3] A listing was secured on the Toronto Stock Exchange in 2007 to raise funding for production[2] and first gold was poured in June 2009.[3] The Company moved to a full listing on the London Stock Exchange in November 2009[4] and was delisted from the Australian Stock Exchange in 2010.[5] In 2011 it redomiciled to Jersey and changed its name to "Centamin plc".[6]

Operations[edit]

The Company operates the Sukari Gold Mine in the Eastern Desert of Egypt,[3] some 700 km from Cairo and 25 km from the Red Sea. First gold was poured at Sukari in June 2009 and commercial production began on 1 April 2010, making Sukari the first modern gold mine in Egypt, a country which in ancient times was a prolific producer of the precious metal. In 2010, Sukari produced over 150,000 ounces of gold [7] and in 2011 it produced over 200,000 ounces.

References[edit]

  1. ^ a b c Preliminary Results 2013
  2. ^ a b c Centamin Egypt – 12 million ounces of gold and rising Proactive Investors, 29 August 2008
  3. ^ a b c Centamin Egypt on track for imminent production Daily Telegraph, 7 April 2009
  4. ^ Aim's winners and losers Investors Chronicle, 18 June 2010
  5. ^ Centamin starts Egypt gold exports Daily Telegraph, 11 January 2010
  6. ^ Centamin Egypt plans to redomicile to Jersey Egypt Independent
  7. ^ "Mining Journal - Centamin maintains 2011 production guidance". 2011-04-11. Retrieved 2011-04-11. 

External links[edit]