Centamin (DI) (CEY)

Sector:

Mining

Index:

FTSE 250

103.00p
   
  • Change Today:
      1.15p
  • 52 Week High: 232.10p
  • 52 Week Low: 100.00p
  • Currency: UK Pounds
  • Shares Issued: 1,156.45m
  • Volume: 4,674,500
  • Market Cap: £1,191.14m
  • RiskGrade: 204

Centamin awards contracts for Sukari solar system

By Josh White

Date: Tuesday 04 May 2021

LONDON (ShareCast) - (Sharecast News) - Centamin has awarded the engineering, procurement and construction contracts for the 36MW solar farm and 7.5 MW battery-energy storage system at the Sukari Gold Mine, it announced on Tuesday.
The FTSE 250 company said Juwi was contracted to design, supply and integrate the Sukari solar and battery plant into the current diesel power plant, while Giza Systems had been contracted to install the Sukari solar plant.

It said the Sukari solar plant would be the largest hybrid solar project at an off-grid mining operation globally, and was expected to reduce diesel fuel consumption at Sukari by an estimated 22 million litres per annum and lower carbon emissions by around 60,000 tonnes of carbon dioxide each year.

The project was scheduled to be commissioned late in the first half of 2022.

Sukari is located within Egypt's Eastern Desert, which Centamin said had some of the highest levels of solar irradiance globally, averaging more than 10 hours of sunshine each day throughout the year.

To maximise the total energy generation, the project would use bifacial solar PV modules and a single axis tracking.

It also noted the reduction in operating costs, including an estimated $9m to $13m saving in annual fuel costs and reduced exposure to fuel price volatility, as well as increased reliability of the power system and reduced traffic and fuel transport to and from site.

The project was being engineered with a longer-term outlook, enabling the solar and battery capacity to be increased if required.

Centamin said the total project capital expenditure was estimated at $37m.

"Centamin's decision to integrate sustainable solar power at Sukari is fully aligned with our commitment to responsible mining," said chief executive officer Martin Horgan.

"It has enabled us to marry up our environmental stewardship philosophy with our strategic objective of maximising returns for all stakeholders.

"With phase one of the project near complete, including completion of the pioneering works across the 85-hectare site, concluding these definitive engineering, procurement and construction contracts was the next significant milestone in delivering the Sukari solar plant."

At 0846 BST, shares in Centamin were up 1.48% at 108.99p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Centamin (DI) Market Data

Currency UK Pounds
Share Price 103.00p
Change Today 1.15p
% Change 1.13 %
52 Week High 232.10p
52 Week Low 100.00p
Volume 4,674,500
Shares Issued 1,156.45m
Market Cap £1,191.14m
RiskGrade 204

Centamin (DI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.62% above the market average77.62% above the market average77.62% above the market average77.62% above the market average77.62% above the market average
71.9% below the sector average71.9% below the sector average71.9% below the sector average71.9% below the sector average71.9% below the sector average
Price Trend
79.32% below the market average79.32% below the market average79.32% below the market average79.32% below the market average79.32% below the market average
70.99% below the sector average70.99% below the sector average70.99% below the sector average70.99% below the sector average70.99% below the sector average
Income
91.25% above the market average91.25% above the market average91.25% above the market average91.25% above the market average91.25% above the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Growth
89.65% above the market average89.65% above the market average89.65% above the market average89.65% above the market average89.65% above the market average
51.61% above the sector average51.61% above the sector average51.61% above the sector average51.61% above the sector average51.61% above the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Centamin (DI) Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-May-21 13-Aug-20
Paid 15-Jun-21 11-Sep-20
Amount 3.00¢ 6.00¢

Trades for 27-Jul-2021

Time Volume / Share Price
16:35 829,304 @ 102.94p
16:35 1,106,601 @ 103.00p
16:29 15 @ 103.05p
16:29 23 @ 103.05p
16:29 29 @ 103.05p

Centamin (DI) Key Personnel

CFO Ross Jerrard
CEO Martin Horgan

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