Managing our risks and opportunities
Material issues
Our process of determining material issues eminates from our risk management process. We combine this with our Global Reporting Initiative materiality assessment, in which we perform a gap analysis and benchmark against our peers to determine our key indicators. In addition we look at which indicators are most closely related to our values and strategy.
From this process we have derived the following five material issues, which encompass most of our key risks while also addressing our values.
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1. KEEPING OUR PEOPLE SAFE AND HEALTHY
People are at the centre of our business. While we have made significant progress in recent years in improving safety and health underground, safety remains a priority for us. We will continue with a pro-active people-focused approach, placing attention in the areas of training and communication to entrench safe behaviours in the workplace. We understand the need to make further safety advances such as through new technology or advancing protection equipment. We realise that physical threats are not the only dangers to our employees who also face occupational health risks from working underground. We address all operational health risks and offer treatment for a variety of other health problems. We believe that prevention is better than cure and our pro-active health strategy and programmes are integrated and holistic. Our aim is to ensure our employees return home healthy and safely. See more on health and safety.
- Related values:
- Safety, Accountable, Connected
- Related key risks:
- Safety, potential liability for occupational health diseases, achieving our operational objectives, productivity
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2. ACHIEVING OUR BUSINESS OBJECTIVES
The success of our core business drives what we do, and are able to do. This does not mean that we are focused only on shortterm success. As explained in our strategy our aim is to create a viable business for years to come. As a result, we also consider our future objectives, such as using technology and innovation, diversifying our resource base, and ensuring we have projects in place to sustain and grow our production.
- Related values:
- Accountable, Achievement
- Related key risks/opportunities:
- Safety, achieving our operational objectives, diversification, discovery/ acquisition of quality ore reserves, funding of capital expenditure/projects, new technology, productivity
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3. MAINTAINING STABILITY IN OUR WORKFORCE
Amid a potentially fractious industrial relations background in the South African mining industry, we focus on having positive and open relationships with our employees and the trade unions that represent them. By fostering conversation we understand and address grievances before industrial action. The benefits of a stable industrial relations climate are extensive. We want to create workplaces where employees feel safe, respected and valued. A stable workforce furthers our aim of meeting business objectives, because it lowers turnover and stabilises production. The benefits of this are shared with employees through production bonuses, reward and recognition programmes and the employee share ownership scheme. For more information see employees.
- Related values:
- Honesty, Connected and Accountable
- Related key risks:
- Labour disputes/ labour unrest, safety, achieving our operational objectives
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4. PROTECTING OUR LICENCE TO OPERATE
To be a successful company, we need to earn our right to mine. This requires a clear understanding of local legislation and regulations, as well as solid relations with government, communities, industry bodies and local business partners. We seek more than compliance: we will transform our workforce, ensure good corporate governance, and be a responsible corporate citizen. For more information see employees, communities and environment.
- Related values:
- Accountable, Honesty
- Related key risks:
- Socio-economic, political and regulatory changes, compliance with corporate governance and public disclosure requirements
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5. MANAGING OUR IMPACT
The resources available to our business each have a limit, and we respect this. We are environmentally responsible through careful monitoring of our consumption, emissions and impact. Our commitment to improving health and safety speaks to our need to protect human resources, while our training and development programmes highlight how we encourage each employee to learn and grow their skills. Responsible resource management is also crucial to our socio-environmental rehabilitation planning. While our mines exist we want to do what we can to improve the living conditions of employees and community members, and to bolster both socio-economic and ecological developments, so we know that when mines close we need to leave viable communities that can support their economies and are not plagued with environmental or health issues. This takes planning from now, and is something we are constructively working towards. More information on our portable skills training and rehabilitation initiatives is available under communities and land management and environmental conservation respectively.
- Related values:
- Safety, Accountable, Honesty
- Related key risks:
- Major environmental incidents, major infrastructure incidents, socio-economic, political and regulatory changes