ANGLO AMERICAN PLATINUM LIMITED Annual Results Presentation 2014 FOCUS: OPERATING SMARTER
FOCUS: OPERATING SMARTER ANGLO AMERICAN PLATINUM LIMITED Annual Results Presentation 2014
HIGHLIGHTS LIVING OUR VALUES SAFETY We take personal accountability to OPERATING PROFIT ensure that we work and live safely (2013: loss of R1.97bn) R843m CARE AND RESPECT We treat each other with respect and dignity in words and action HEADLINE EARNINGS (2013: R1.45bn) R786m INTEGRITY We walk the talk – our actions are consistant with our words LOST-TIME INJURY-FREQUENCY RATE (LTIFR) per 200,000 hours worked (2013: 1.05) ACCOUNTABILITY 0.69 Individual accountability drives team and business accountability REFINED PLATINUM PRODUCTION (2013: 2.38 Moz) COLLABORATION We align and collaborate across 1.89 M oz functions to ensure collective high performance EQUIVALENT REFINED PLATINUM INNOVATION PRODUCTION (2013: 2.32 Moz) Innovation is key to our future and is a central part of our drive 1.84 M oz for sustainability Anglo American Platinum Annual Results Presentation 2014 1
ANNUAL RESULTS PRESENTATION 2014 RESULTS COMMENTARY FOCUS: OPERATING SMARTER 2 Anglo American Platinum Annual Results Presentation 2014
RESULTS COMMENTARY SAFETY, HEAL TH AND WELFARE to the reduction, the average of the month prior, and the six months post the strike, resulted in a L TIFR of 0.84 and a The industrial action created an unprecedented TRCFR of 1.41. environment of heightened risk operationally, fjnancially, socially and in particular with regard to health and safety. The number of noise-induced hearing loss (NIHL) cases The Company successfully managed the safety risks for 2014 improved to 34 from 68 in 2013. There was a associated with the protracted period of industrial unrest, signifjcant improvement in the uptake of voluntary performing a safe shutdown once the strike notice was counselling and testing for HIV, with 42,000 employees received, ensuring that the safety of working areas was registering for these services, a year-on-year increase of maintained and making sure post-strike start-up plans 45%. The number of employees registered on the were strictly enforced to prevent the occurrence of safety Company’s wellness and anti-retroviral treatment (ART) incidents. Affected operations were also inspected on a programmes continues to rise, with a 7.7% increase on regular basis by available employees during the strike. the wellness programme and a 10.2% increase on ART. The Company continued to pay for its medical aid Even during the diffjcult period, 2014 safety performance contribution for all employees during the strike to ensure was the best ever for the Company. In recognition of the their well-being and that of their families. Food and efforts, Anglo American Platinum was awarded the top 5 nutrition supplements were provided to school children in industry safety awards by MineSAFE during this period. the striking areas, as well as being provided to employees upon returning to work. Chronic medication was available Industrial action to employees during the strike. These planned efforts were The Company commenced wage negotiations with all instrumental in ensuring that employees who had been on trade unions in September 2013 and settled with the strike returned to a safe workplace and in good health. National Union of Mineworkers (NUM) and the United Association of South Africa (UASA) in December 2013. By adopting a proactive approach to managing safety risks In January 2014, the Company continued with negotiations and maintaining constant engagement with the in an attempt to reach a settlement with the majority trade Department of Mineral Resources (DMR), there has been union, the Association of Mineworkers and Construction a decline in the severity of Section 54 safety stoppages, Union (AMCU) and the National Union of Metalworkers and a consequent reduction in the loss of production. of South Africa (NUMSA). NUMSA accepted the terms In spite of these efforts, the Company tragically had three of the wage offer with the Company in March 2014. fatalities at our managed operations during the period. Unable to reach agreement with AMCU, the Company Mr Willie Smit was fatally injured when an electrical fmash received notifjcation of the intention to embark on a occurred from a panel in a compressor substation at the legal strike which commenced on 23 January 2014. The Waterval Smelter on 9 April 2014. On 15 August 2014 strike continued for fjve months and was fjnally resolved Mr Bongile Ludziya was injured in a material handling on 24 June 2014 when a three-year wage agreement was incident at Thembelani Mine, and sadly passed away on signed, effective from 1 July 2013. 18 August 2014 as a result of injuries sustained. Mr Manito Wage agreement Seneta was fatally injured on 11 September 2014 due to a fall of ground incident at Dishaba Mine. Our sincere The agreed wage settlement resulting from the strike condolences go out to the family, friends and colleagues will lead to an effective 8.4% per annum cost to company of Mr Smit, Mr Ludziya and Mr Seneta. on average over the 3 year settlement period. The costs for the Company are 10.5% in year 1; 7.7% in year 2 The Company continues to make progress in its safety and 7.1% in year 3. The agreement reached achieves a initiatives, in spite of the challenging environment faced. sustainable future for the Company and provides Safety improvements were achieved in almost all of the employees with a competitive increase under current operations. fjnancial circumstances. Anglo American Platinum Limited’s lost-time injury- Impact of strike and post-strike ramp-up frequency rate (L TIFR) dropped signifjcantly over the As a result of the industrial action, total lost production past year to 0.69 (2013: 1.05). The total injuries also amounted to 424 koz equivalent refjned platinum improved notably, with the Total Recordable Case (equivalent ounces mined expressed as refjned ounces) Frequency Rate (TRCFR) improving to 1.22 in the strike period to 24 June 2014. Rustenburg (2013: 1.825). Although the months on strike contributed Anglo American Platinum Annual Results Presentation 2014 3
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