Sustainable and shared value
In a world where people want to build better lives for themselves and their families, but where resources are limited, our goal is to create sustainable value from South Africa’s mineral resources for the good of South Africans.
We do this by having the right resources and know-how, the right people working with the right partners, which is all supported by a solid commitment to responsible, safe and sustainable mining. This helps us to deliver the products that make our world work, provide the economic opportunities that South Africa needs to grow, and minimise any harm that our operations may cause to the environment.
Vision, mission and values, culture and brand
While our aim has always been to generate returns for our shareholders, how we accomplish this – by striving to make a real and lasting contribution to society – is fundamental and defines us as a company. We believe that this is best done through forming mutually beneficial partnerships, as reflected in our vision: “Partners in the future”.
We are guided by our mission: “Together we create sustainable value that makes a real difference”. This is underpinned by our core values of safety, innovation, accountability, care and respect, integrity and collaboration that translate externally into the promise we make to all our stakeholders – Real Mining. Real People. Real Difference.
We are creating an organisation where all people are treated in such a way they willingly give the best they’ve got.
Responding to our world
The world we operate in is constantly changing and our stakeholders demand solutions today. Miners cannot depend on high commodity prices to mask inefficiencies. We are refocusing our business to become more efficient and effective. This will generate cash and returns on a sustainable basis that will help us to remain competitive through the cycle and over the long term.
What we want to achieve
Our ambition is to create a resilient business that delivers robust profitability and cash flows through the price cycle.
We will achieve this through our three strategic choices: where we compete, how we win and our critical core skills.
These strategic choices are at the heart of our strategy. These are the key principles which we need to focus on to ensure success.
We have specific objectives and targets for 2016:
- Be free cash flow positive at current prices and exchange rates.
- Deliver $1.9 billion of EBIT from additional cost and productivity improvements vs. 2015.
- Generate $3-4 billion from disposals in 2016.
- Reduce net debt to less than $10 billion (once the above targets are reached) by end of 2016.
- Start delivering the step-change reduction in central and global support costs as the organisation aligns to the streamlined operating footprint.
Route to success
Within our strategy, we have four strategic imperatives, which provide the framework to focus on how we deliver to achieve our ambition and 2016 targets. They are:
- Focus the portfolio.
- Focus on delivery.
- Enhance core business processes.
- Creating a high performance culture.
We will measure our results through a business scorecard which is based on our seven pillars of value.
Achieving this will only be possible through our people, who are the business. Our organisation model empowers our people to realise their full potential and that of our assets by ensuring that the right people are in the right roles, doing the right work. Our operating model provides a structured approach for how we set targets, plan, execute and improve work, enabling consistent delivery against expectations.
We are guided by several key principles to help us on our journey of creating shared sustainable value and making mining matter:
We truly believe that all injuries are preventable and that by working together we can make safety a way of life, inside and outside the workplace
Care and respect
We always treat people with respect, dignity and common courtesy – regardless of their background, lifestyle or position. Open, two-way communication is the only way to build trust.
This means taking an honest, fair, ethical and transparent approach in everything we do. It’s not about being popular; it’s about always doing the right thing.
We take ownership of our decisions, our actions and our results. We deliver on our promises and acknowledge our mistakes. Above all we never pass blame.
No-one here is on their own. We’re one company with a joint ambition – all working together to make decisions and get things done more effectively.
Challenging the way things have always been done is a key priority for us. By actively developing new solutions, encouraging new ways of thinking and finding new ways of working, we’re dramatically improving business.