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Capital Projects Control and Review Committee

Capital Projects Control and Review Committee

The Capital Projects Control and Review Committee comprises five independent non-executive directors: Rick Menell (Chair), David Murray, Alan Hill, Chris von Christierson and Gayle Wilson.

The Committee has adopted formal, written terms of reference that were approved by the Board. The terms of reference, inter alia, require that this Committee satisfies the Board that the company has used correct, efficient methodologies in implementing capital projects in excess of R1.5 billion or US$200 million. The Committee also ensures that adequate controls are in place to review such projects from inception to completion and making recommendations to management that it considers appropriate.

The Capital Projects Control and Review Committee met on four occasions during the year under review and is satisfied that it has met its responsibilities during the past financial year in compliance with its terms of reference. The record of attendance by members is contained in the table below.

   
2009
   
2010
 
 
Director
19/8   4/11     1/2   5/5  
  Menell, RP          
  Hill, AR n/a          
  Murray, DN          
  von Christierson, CI          
  Wilson, GM          

√ Indicates attendance.
n/a Indicates not a member at the time.