CENTAMIN said it had donated $635,000, equal to 10 million Egyptian pounds, to support Egypt in its efforts to stem the spread of the COVID-19 virus.
“During this time of global crisis, we are committed to extending support to our host countries,” said Josef El-Raghy, chairman of Centamin in a statement. Centamin operates the Sukari gold mine in Egypt’s south-east area near the Red Sea. “We will continue to provide our wholehearted support to the government in facing this crisis,” he said.
Centamin said it had not yet any recorded cases of COVID-19 among staff and had experienced “… no material disruption to operations, supply chain or gold shipments”. As the country’s largest mining company, and significant local employer, early action was taken to protect the on-site workforce and secure operations, it said.
“We continue to closely monitor the situation, adapting our processes and procedures accordingly. We are actively working with the Egyptian Government to address the threat of COVID-19, providing logistical and financial support within our local community.”
Centamin, which earlier this year rebuffed a merger proposal by Endeavour Mining, said last week it had appointed Martin Horgan as its CEO. Horgan, formerly CEO of Toro Gold, will take up the reins of the company on April 6.
Centamin has guided to 2020 production of 510,000 to 540,000 ounces. It produced 480,529 oz of gold in its 2019 financial year, a shade below adjusted guidance of 490,000 oz (520,000 oz had been initially targeted in 2019) at an all-in sustaining cost of $792/oz (FY:$943/oz).
