Our primary strategic objective remains to create sustained value, which will be achieved through safe, profitable production and increased margins. Cash generated will be used to advance our business objectives which are to:

  • fund investment in the stage 5 and 6 cutback at Hidden Valley
  • prioritise growth capital at the Tshepong operations and Joel mine
  • target exploration that maximises value from existing infrastructure
  • make cash-generative acquisitions to improve the quality of ounces produced at a lower all-in sustaining unit cost
  • develop the world-class copper-gold Wafi-Golpu project in Papua New Guinea
  • maintain levels of low net debt and
  • pay dividends to shareholders only from profits

Our Strategy 2017 [graph]

In line with our strategic objective, our medium-term aim is to increase annual gold production to approximately 1.5Moz by FY19 by:

  • growing, nurturing and developing our core assets through operational excellence
  • organic growth
  • identifying and evaluating value-accretive acquisitions in South Africa, Papua New Guinea and the rest of Africa

By ensuring operational excellence and 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 FY18 is realistic and achievable. These actions position our operations to achieve safe, profitable production in future. Realistic planning supports our strategy to optimise assets – our ore bodies, our infrastructure and our people. This will ensure safer, more profitable production.

By mining safely and 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.