Careers and procurement
Our primary strategic objective remains to create sustained value by producing safe, profitable ounces and by improving our margins. Cash generated will be used to advance our business objectives which are to:
- reduce our debt
- pay dividends to shareholders
- fund the development of Golpu in Papua New Guinea and make cash-generative acquisitions
Maintaining and increasing our margins are essential to sustaining our business and meeting our strategic and business objectives. This strategy is supported by three pillars – operational excellence, cash certainty and efficient capital allocation.
In line with our strategic objective, our medium-term aim is to increase gold production to approximately 1.5Moz by FY19 by:
- growing, nurturing and developing our core assets
- harvesting operations that are high cost and have a short life
- expanding in South Africa and Papua New Guinea as well as further into Africa
- assessing organic growth opportunities
To this end, we remained focused on the safe mining of profitable ounces at all operations in FY16. As part of our planning for FY17, we have closed or placed on care and maintenance those sections of individual mines where costs and grades would render their exploitation unprofitable.
Through operational excellence and by adhering to our company values, applying mining discipline, further increasing our productivity, creating an enabling environment and applying grade cut-offs, we believe that our guidance for FY17 is realistic and achievable. These actions position our operations to produce safe, profitable ounces in future.
By mining profitably at all times we will ensure the financial strength and flexibility necessary to underpin our future sustainability and growth. This, in turn, is crucial to ensuring that we continue to serve all our stakeholders' best interests fairly.
Realistic planning supports our strategy to optimise assets – our ore bodies, our infrastructure and our people. This will ensure safer, more profitable production.