Constantly delivering on our strategic goals
Performance in 2021
Our focus in 2022
- Meaningful organic growth
- Meaningful organic growth
Performance in 2021
- 1.68 Moz produced in 2021, up 2% year-on-year and 5% above original guidance
- 7% increase in ore reserves
- Nezhda launch ahead of schedule
- Veduga The Board approved $471 million investment in the 4.0 Moz Veduga project
Our focus in 2022
- Despite a wide range of uncertainties we will be working under in 2022, it is our current intention to operate as normally as possible, but remain agile to evolving circumstances
- The Group reiterates its current production guidance of 1.7 Moz of GE for FY 2022
- The scope of operational activities and capital project advancement is not expected to change materially
- Global leadership in refractory ore processing
- Global leadership in refractory ore processing
Performance in 2021
- POX-2 project is 65% complete. We advanced construction of POX-2, which will fully de-risk our business model by bringing all concentrate processing in-house and eliminating our dependence on concentrate offtake from 2H 2023.
- We also started the Pacific POX project, which addresses both the internal need for extra downstream capacity and provides us with strategic opportunities on the external market.
Our focus in 2022
- Keeping POX-2 construction on track for launch in 2H 2023
- Land plot securing and external infrastructure Unlocking the value of refractory reserves conditions approval for Pacific POX
- High standards of ESG through impact assessment
- High standards of ESG through impact assessment
Performance in 2021
- 9% reduction in our GHG intensity (Scope 1 and Scope 2, compared with 2019)
- 33% female directors
- Received further external recognition of ESG efforts with improved ratings and scores from MSCI ESG Ratings, Sustainalytics, Vigeo Eiris, ISS ESG Corporate Rating S&P Global Bronze Class Sustainability Award
Our focus in 2022
- Ultimate goal of zero fatalities and LTIFR ≤ 0.2 at all operations
- Improve equality and diversity, with at least 33% of women in the Talent Poo
- Achieve a 10% reduction in GHG intensity (Scope 1 and Scope 2) compared with 2019 baseline
- Achieve a 42% reduction in freshwater intensity compared with 2019 baseline
- 12% of all our tailings to be stored in the form of dry stacking
- Continued compliance with global and local best practice
- Capital discipline & sustainable dividends through the cycle
- Capital discipline & sustainable dividends through the cycle
Performance in 2021
- $635m dividend paid ($1.34 per share)
- 1.13x Net debt/Adjusted EBITDA, below target of 1.5x
- $1bn Our commitment to invest in decarbonisation until 2030
- $400m New sustainability-linked financing with interest rates linked to GHG emission intensity reduction targets
Our focus in 2022
- Maintaining a strong balance sheet and comfortable leverage position of Net debt/Adjusted EBITDA
- Delivering significant positive free cash flow