Our Vision, Strategy & Values

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Our vision

Anglo American Platinum conducted a review of its business in response to its revised expectations for platinum demand growth and a number of structural changes that have eroded profitability in recent years, including capital intensity, mine depths, ore grades, higher-than-inflation unit cost increases, jewellery demand elasticity and increasing secondary supply of platinum. This review could result in material operational changes going forward, all of which are being made with the future in mind to create a sustainable and profitable company.

Our strategy

The strategic objective of Anglo American Platinum is to produce a safe, sustainable, competitive and profitable platinum business for the long-term benefit of all its stakeholders. Anglo American Platinum plans to achieve this through a three-pronged approach: by developing the market for platinum group metals; by optimising the portfolio through aligning baseline production with long-term demand expectations and focusing on high-quality operations; and by managing costs to deliver profitability, sustainably.

Developing the market

Anglo American Platinum has a revised commercial strategy to realise value through revised contractual terms with a broader customer portfolio while promoting new PGM applications. It aims to develop markets for new industrial applications while maximising the benefit from the traditional autocatalyst and jewellery markets. It seeks to leverage on new and existing relationship with its customers, consumers and other stakeholders to realise this goal.

Optimising the portfolio

Anglo American Platinum plans to align baseline production with long-term demand expectations, focusing on a high-quality portfolio of operations to produce PGMs on an economically sustainable basis. Exposure to high-risk, low-margin, capital-intensive mines will be reduced, supporting a significant reduction in the cost base. In pursuing value over volume, Anglo American Platinum has streamlined its project pipeline allowing a more efficient allocation of capital to mines that are best placed to sustain and create employment over the long term. Flexibility in the portfolio will be retained to meet potential upside in demand expectations.

Managing the costs

While unrelenting in its focus on safety as it pursues its Zero Harm objectives, Anglo American Platinum seeks to enhance value at its current operations by implementing a programme of targeted cost reduction and efficiency improvements. These are expected to deliver significant cost reductions on a sustainable basis by 2015. Additionally, overheads have been reviewed and reduced to ensure that they appropriately support the operations through a new organisation design.

Uphold our values

 

We put safety first:

  • We all take personal responsibility in ensuring that we work and live safely.
  • We believe that zero harm can be achieved by putting safety first.
 

We act with honesty and integrity:

  • We are open, honest and direct in our interactions.
  • We raise and solve issues as they arise.
  • We have the courage to confront tough issues and to stand up for what is right.
 

We deliver on our promises:

  • We do what we say we are going to do.
  • We set challenging but realistic goals and hold ourselves personally accountable for achieving them.
  • We learn from our experiences and move forward to greater achievement.
 

We are one team:

  • We work together across functions and teams to improve our performance and solve problems.
  • We seek out and are open to new ideas, wherever they may come from.
 

We value and care about each other:

  • We all have a right to be heard and a duty to listen to others.
  • We care for each other’s wellbeing and treat each other with respect and dignity. This means that we have zero tolerance for racism, sexism or any form of unfair discrimination.
  • Our care reaches out to include our communities and the environment.
 

We are passionate and take pride in everything we do:

  • Individually and together, we strive to be the best we can be.
  • We recognise and celebrate dedication, achievement and excellence.