Constraints to the availability of our inputs
Our employees and contractors provide the manpower, skills and expertise that drive our strategy.
Water security and reliable energy supply are critical to our mining and processing activities, while access to land enables us to extract gold and copper resources.
The quality and strength of our stakeholder relationships – including governments – as well as partnerships with host communities, support our licence to operate and the sustainability of our business.
We require financial capital to expand our footprint, which is provided by banks, shareholders and bond-holders.
Our manufactured capital refers to our investment in machinery, equipment, technology and ICT infrastructure at our mines and projects. It also includes the goods and services we need to develop and sustain these assets.
Our people and partners' intellectual input informs our strategic objectives, drives innovation and efficiencies, and aids risk management. This is underpinned by a strong ethos of good governance and ethics.
Our vision and new purpose statement manifests through our three strategic pillars, enabling us to deliver sustainable value for our stakeholders.
We have built a geographically diversified portfolio with nine mines and one project in five countries by focusing on:
We manage our portfolio actively and aim to continually improve its quality by decreasing All-in Costs (AIC) and, ultimately, increasing free cash-flow (FCF) margin per ounce of gold produced.
Across these activities, we:
OUTCOMES FOR THE BUSINESS AND STAKEHOLDERS DURING 2021
US$463m paid in salaries and benefits
US$8.3m spent on training and development
One fatal incident
17 deaths among our people due to Covid-19-related illnesses
12 new cases of Silicosis submitted to health authorities
Nine serious injuries
22% of our total workforce are women, including women in leadership (2020: 20%)
Zero Level 3 - 5 environmental incidents for the third consecutive year
Recycled 75% of water withdrawn and reduced our freshwater intake by 35% against a 2018 baseline
Achieved an A- score in the CDP's Water Disclosure Project
2.26Mt CO2e emissions (2020: 2.12Mt CO2e)
213Mt of total material moved
All mines implemented at least 93% of their progressive rehabilitation plans
Six community grievances relating to environmental stewardship
SOCIAL AND RELATIONSHIP CAPITAL
US$16m invested in programmes and projects that benefit our host communities
54% of workforce employed from our host communities
31% (or US$709m) of total procurement costs spent with host community enterprises
86% of our employees are from our countries of operation and 96% of all goods and services are procured in-country
US$558m paid to governments in taxes and royalties
65 community grievances (59 resolved during 2021)
US$913m in adjusted free cash-flow from operations
US$457m paid in interest and dividends
Net debt decreased to US$969m
JSE share price up 27%; NYSE share price up 19%
Total dividend of R4.70/share declared
US$510m in gross mining closure liabilities
US$29m spent on Covid-19-related programmes to assist our employees, communities and governments
US$375m spent on Salares Norte project capital
Invested US$61m in near-mine exploration (including Salares Norte)
Damang Reinvestment project set to reach peak production in 2022 before output falls
Lost 29.6koz of production due to impact of the Covid-19 pandemic
Mineral Reserves down 7% post-depletion
20% rise in AIC, largely due to Salares Norte capex and stronger exchange rates
Continued improvement in production and costs at the South Deep mine amid successful implementation of restructuring initiatives
Continued investment in South Deep, South Africa's largest bulk, mechanised, underground gold mine
South Deep constructing a 50MW solar plant
Salares Norte signs contract to use dry-stack tailings, one of the most environmentally responsible tailings solutions
Increased use of real-time data to enable decisions that facilitate safer and more productive mines