Company Directory - Centamin plc
Company Details - Centamin plc
Centamin plc
WebsiteLondon, United Kingdom
Centamin is a mineral exploration, development and mining company that operates the Sukari Gold Mine in Egypt.
CCI Score
CCI Score: Centamin plc
-4.63
0.01%
Latest Event
New Egyptian Mining Regulatory Framework Agreed
Centamin plc announced the agreement on a new Egyptian mining regulatory framework that establishes a clear and competitive regulatory structure for the development of new mining concessions. The announcement, dated 20 July 2023, emphasizes compliance with national regulations without overt evidence of political manipulation or corporate influence on democratic processes.
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BYSTANDER
Centamin plc is currently rated as a Bystander.
Latest Events
- JUL202023
Centamin plc announced the agreement on a new Egyptian mining regulatory framework that establishes a clear and competitive regulatory structure for the development of new mining concessions. The announcement, dated 20 July 2023, emphasizes compliance with national regulations without overt evidence of political manipulation or corporate influence on democratic processes.
+0
Public and Political Behavior
March 26
Under the 'Public and Political Behavior' category, the announcement demonstrates that Centamin is adapting to a new regulatory environment rather than engaging in efforts to manipulate or subvert political processes. The company’s communication indicates neutrality and compliance, showing no evidence of supporting authoritarian practices.
New Egyptian Mining Regulatory Framework Agreed – Company Announcement
+0
Economic and Structural Influence
March 26
In the 'Economic and Structural Influence' category, the event reflects Centamin’s operational compliance in an environment characterized by regulatory changes. Although the new framework is set in an authoritarian context, the company’s role appears to be adaptive rather than actively promoting or exploiting authoritarian measures, resulting in a neutral score.
New Egyptian Mining Regulatory Framework Agreed – Company Announcement
- JUL202023
Centamin entered into a regulatory agreement with the Egyptian government on terms for a new mining concession, intertwining its operations with an authoritarian regime's fiscal policies. This deal raises concerns regarding economic collaboration and potential regulatory capture, as the agreement secures long-term, favorable fiscal conditions that may reinforce undemocratic practices.
-40
Economic Collaboration
March 26
The agreement with Egypt's government reflects a form of economic collaboration with an authoritarian regime. The long-term fiscal and regulatory terms, including fixed royalties and profit interests, serve to align Centamin's corporate interests with those of a regime known for repressive practices, thereby indirectly supporting undemocratic governance.
Centamin, Egyptian govt reach in principle agreement on regulatory terms for new concession
-30
Regulatory Capture
March 26
The framework demonstrates potential elements of regulatory capture, where Centamin may be using its corporate influence to secure and benefit from favorable regulatory conditions. This arrangement could weaken public oversight and enhance the authoritarian state's hold over economic and regulatory policies.
Centamin, Egyptian govt reach in principle agreement on regulatory terms for new concession
- APR252023
Centamin's 2022 Sustainability Report outlines its commitment to responsible business practices, robust local economic contributions, and adherence to international sustainability standards such as GRI and SASB. The report emphasizes significant progress in environmental initiatives, workforce development, and local procurement, reflecting practices that aim to uplift local communities and bolster ethical governance.
+80
Business Practices and Ethical Responsibility
March 26
Centamin's sustainability report demonstrates a strong commitment to ethical business practices. The report details adherence to international standards (GRI, SASB), outlines environmental initiatives including decarbonisation targets, and emphasizes sustainable governance and community engagement. This reflects positively on its business practices and ethical responsibility.
Centamin PLC Announces Publication of 2022 Sustainability Report
+70
Economic and Structural Influence
March 26
The report illustrates strong local economic contributions, including the distribution of US$848 million in economic value, high local workforce participation (96% Egyptian employees), and significant local procurement (67%). While the deep partnership with the Egyptian government calls for ongoing scrutiny, these measures support local economic empowerment and structural influence in a positive manner.
Centamin PLC Announces Publication of 2022 Sustainability Report
- NOV092012
An Egyptian court ruling declaring Centamin’s mining contract void has sparked serious concerns about the company’s business practices and its economic relationship with Egyptian state entities, raising questions about corruption and oversight in a Mubarak-era concession.
- OCT302012
An Egyptian administrative court revoked the operating license for Centamin's Sukari Gold Mine amid disputes over contractual irregularities and longstanding deals from the Mubarak era. This decision has exacerbated political risk and highlighted problematic resource extraction practices that undermine equitable national development.
-60
Public and Political Behavior
March 26
The court's decision to revoke Centamin's license reveals a deep-rooted reliance on outdated, pre-revolutionary agreements that favor corporate extraction of resources at the expense of national development. This reflects problematic public and political behavior where the company appears complicit in exploiting legal loopholes to maintain operations under authoritarian legacies.
-50
Economic and Structural Influence
March 26
The revocation reflects issues in Centamin's economic and structural influence, revealing a business model that relies on contentious contracts and practices in politically volatile environments. This contributes to economic inequities and undermines fair distribution of national resources, which is deeply problematic from a structural perspective.
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