CEO Report
CEO 2019 BALANCED SCORECARD
Below is a summary of our CEO, Nick Holland's, Balanced Scorecard for 2019 and his performance against it. His average score for 2019 was 3.8 out of 5, as evaluated by the Remuneration Committee. Click the tabs below to see the targets and CEO performance against them.
- FINANCIAL
- INTERNAL
BUSINESS PROCESS
- ORGANISATIONAL
CAPACITY
Improve liquidity by reducing net debt
Target: US$100m debt reduction Stretch target: US$150m debt reduction |
- Net debt reduced by US$281m to US$1,331m (pre-IFRS 16)
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PERFORMANCE RATING SCALE:
1: Target not achieved
(less than 60% of goals achieved)
2: Underperformance
(60% – 90% of goals achieved)
2.5: Development required
(91% – 99% of goals achieved)
3: Good performance
(100% – 105% of goals achieved) |
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3.5: Great performance
(106% – 110% of goals achieved)
4: High performance
(111% – 120% of goals achieved)
4.5: Top performance
(121% – 125% of goals achieved)
5: Exceptional performance
(126% or more of goals achieved) |
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Click for full CEO Scorecard 2019
Deliver the 2019 South Deep business plan through disciplined execution and improved productivity.
Target: 477t mined/employee |
- South Deep achieved a 45% annual improvement on 2018 in tonnes mined per employee at 418t
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| Improve internal business planning processes at South Deep by achieving 85% compliance to the mining plan. |
- South Deep achieved 87% compliance to the mine plan1 – and a 7% improvement on 2018
- Backfill production was at record levels at 426,338m3
- Ground support at 12.8km was a 37% improvement on 2018
|
1 Compliance to plan means adherence to key operational targets such as costs, drilling advancement, ground support and backfill production |
| Delivery of the Gruyere project |
- First crusher feed 20 January 2019
- First gold production 30 June 2019
- Substantial completion 20 July 2019
- 2019 production at 99koz, at the top end of market guidance
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Delivery of Gruyere project capital cost.
Target: A$621m
Stretch: A$612m |
- Final project capital cost was A$610m
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Delivery of Damang project to the following targets:
- Total ore mined 31.8Mt
- Gold produced 218koz
- Mill throughput 4.3Mt
- 75% spatial compliance to plan
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- Total tonnes mined of 34.1Mt
- Gold production of 208koz
- Mill throughput at 4.6Mt (above nameplate capacity)
- 92% spatial compliance2 to plan
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2 Spatial compliance requires adherence to the approved mining plan and sequence in which we mine |
Delivery of Salares Norte project:
- Feasibility study (FS) peer reviewed by March 2019
- Detailed engineering work at 55%
- Complete district exploration with 12.9km drilled
- Environmental approval to be achieved by June 2020
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- FS completed and presented to the Board in February 2019
- Detailed engineering work at 58%
- District exploration drilling of 15.5km
- Environmental approval received in December 2019
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PERFORMANCE RATING SCALE:
1: Target not achieved
(less than 60% of goals achieved)
2: Underperformance
(60% – 90% of goals achieved)
2.5: Development required
(91% – 99% of goals achieved)
3: Good performance
(100% – 105% of goals achieved) |
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3.5: Great performance
(106% – 110% of goals achieved)
4: High performance
(111% – 120% of goals achieved)
4.5: Top performance
(121% – 125% of goals achieved)
5: Exceptional performance
(126% or more of goals achieved) |
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Click for full CEO Scorecard 2019
- Improve impact of I&T
- Complete 2019 I&T programmes in accordance with the regional strategies with clear business cases
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Key achievements:
- Telecommunications infrastructure at South Deep, Agnew, Granny Smith and St Ives to facilitate digital mining progressed
- Personnel and mobile equipment tracking systems implemented in one corridor at South Deep
- Automatic ventilation systems installed at Agnew
- High-precision blast hole drilling commenced at Tarkwa and St Ives
- Semi-autonomous loading expanded at Granny Smith and trialled at South Deep
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| Improve governance, compliance and risk by ensuring that there are no material deviations from 2019 compliance guidelines. |
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| Develop leadership competency framework aligned with strategic objectives and values to improve people capacity and culture |
- Leadership competency framework updated and adopted
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| Apply 360o “Living the Values” assessment in our performance assessment tool |
- The 360o assessment of the CEO was completed by the Chairperson and Exco
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PERFORMANCE RATING SCALE:
1: Target not achieved
(less than 60% of goals achieved)
2: Underperformance
(60% – 90% of goals achieved)
2.5: Development required
(91% – 99% of goals achieved)
3: Good performance
(100% – 105% of goals achieved) |
|
3.5: Great performance
(106% – 110% of goals achieved)
4: High performance
(111% – 120% of goals achieved)
4.5: Top performance
(121% – 125% of goals achieved)
5: Exceptional performance
(126% or more of goals achieved) |
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Click for full CEO Scorecard 2019
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