Centamin appoints new CEO

Ahram Online , Thursday 15 Jan 2015

Centamin's share price in the London Stock Exchange remained almost unchanged after the company announced Thursday the appointment of a new permanent CEO

Gold producer Centamin Plc said today it appointed Andrew Pardey as chief executive officer starting 1 February.

Pardey, who served as the company's chief operating officer since May 2012, will replace interim CEO Josef El-Raghy, the company said in an emailed statement. El-Raghy will continue in his role as chairman.

Centamin's principal asset, Sukari mine in Egypt's eastern desert, is expected to produce 420,000 ounces of gold in 2015, an 11 percent jump on the 377,261 ounces it produced in 2014. This production forecast remains well below Sukari's capacity of 500,000 ounces.

Centamin's share price was nearly unchanged by 11 am CLT on the London Stock Exchange, trading at £0.65 per share.

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