LONDON (dpa-AFX) - Centamin Plc (CELTF.PK, CEY.L, CEE.TO) said, following an independently managed contractor tender process, the underground operations at its Sukari Gold Mine will transition from contractor-mining to owner-operator mining with immediate effect. This will follow the expiry of the current five-year contract, the Group said. Centamin said this change will deliver significant cost savings and improve operational control and mining flexibility, whilst also enabling it to upskill the local workforce.
The transition to owner-operator mining is projected to generate long-term cost savings of an average $19 million per annum from 2023 onwards compared to the 2021 cost base.
Centamin has awarded Geodrill a five-year contract to provide underground drilling services. The contract is to commence in the first quarter, 2022.
The Group said there is no change to the 2022 annual production and cost guidance. The annual capital expenditure guidance for 2022 is increased by $10.5 million to $225.5 million.
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