{"id":1175713,"date":"2020-04-02T09:53:28","date_gmt":"2020-04-02T15:53:28","guid":{"rendered":"https:\/\/www.mining.com\/?p=1019080"},"modified":"2020-04-02T09:53:28","modified_gmt":"2020-04-02T15:53:28","slug":"centamin-appoints-new-ceo-after-months-without-top-boss","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1175713","title":{"rendered":"Centamin appoints new CEO after months without top boss"},"content":{"rendered":"<p>Egypt-focused gold miner\u00a0Centamin\u00a0(LON:CEY) (TSX:CEE)\u00a0has <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/otp.tools.investis.com\/clients\/uk\/centamin_plc\/rns\/regulatory-story.aspx?cid=1756&amp;newsid=1383885\" >appointed Martin Horgan<\/a>, the co-founder of Toro Gold, which was acquired by Resolute Mining (ASX: RSG) <a href=\"https:\/\/www.mining.com\/australias-resolute-mining-to-buy-junior-toro-gold-for-274m\/\">last year<\/a>, as its new chief executive officer.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The company, which has been without a full time boss since the <a href=\"https:\/\/www.mining.com\/centamins-ceo-to-leave-after-challenging-year-for-the-miner\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">resignation of Andrew Pardey in October<\/a>, said the hire was the result of an \u201cintensive\u201d international search process.\u00a0<\/p>\n<p>Martin brings in more than 10 years of experience in the gold<br \/>\nindustry and the African market in particular. He will face the challenge of<br \/>\nimproving the performance of the company\u2019s Sukari mine, Egypt\u2019s largest gold<br \/>\noperation, which has disappointed investors in the past two years.<\/p>\n<p>The new CEO will also have to deal with the <a href=\"https:\/\/www.mining.com\/centamin-operations-in-egypt-unchanged-despite-covid-19\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">aftermath of covid-19<\/a>, which has forced miners around the world to halt operations and revise production targets.<\/p>\n<p>Centerra, which rejected a\u00a0<a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mining.com\/endeavour-mining-walks-away-from-takeover-talks-with-centamin\/\" >takeover approach by Canada\u2019s Endeavour Mining<\/a>\u00a0(TSX:EDV)\u00a0at the beginning of the year,\u00a0recently postponed <a href=\"https:\/\/www.mining.com\/centamin-operations-in-egypt-unchanged-despite-covid-19\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">publication of its 2019 results<\/a> \u201cfor a minimum of two weeks\u201d, following a request issued on March 21 by the UK\u2019s Financial Conduct Authority (FCA).<\/p>\n<p>Sukari, which began operations in January<br \/>\n2010,&nbsp;comprises a large open pit and an underground mine.&nbsp;The company<br \/>\nspent most of 2018 on operational improvements&nbsp;on both sections, but they<br \/>\ntook longer than planned to materialize.<\/p>\n<p>As a result, Sukari churned out 472,418 ounces of gold in<br \/>\n2018, down from 544,658 ounces in 2017, and Centamin struggled to boost<br \/>\nproduction at its flagship mine last year.<\/p>\n<p>Challenges prompted changes at the top, including removing<br \/>\nthen executive chairman Josef El-Raghy from the position and the appointed<br \/>\nthree independent non-executive directors<\/p>\n<p>Centamin\u2019s board now consists of eight members, with two<br \/>\nexecutive and six-non-executives. Of the non-executives, five are independent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Martin Horgan, co-founder of a gold company acquired by Resolute Mining last year, is taking the post.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175713"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1175713"}],"version-history":[{"count":5,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175713\/revisions"}],"predecessor-version":[{"id":1175747,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1175713\/revisions\/1175747"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1175713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1175713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1175713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}