Royal Bafokeng Platinum (RBPlat) | Integrated Report 2016 HOME

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STRATEGIC REVIEW

Chairman's letter to stakeholders

The year 2016 can certainly be described as an annus horribilis for South Africa, a country facing considerable challenges in terms of its economy, society and politics.

This has certainly been a roller coaster of a year for South Africa during which political activity has impacted negatively on our economy, the country's credit rating and investor confidence.

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Royal Bafokeng Platinum
Statutory and additional information including:
- Report of the Social and Ethics Committee
- Independent assurance report

FAST FACTS

RBPlat fast facts

This profile is intended to provide you with a brief introduction to Royal Bafokeng Platinum Limited (RBPlat). Detailed information is available on our website (www.bafokengplatinum.co.za), in our integrated report and our annual financial statements, which are also available on our website.

OUR VISION AND MISSION

To seek and deliver the good from mining
To leave a lasting legacy of sustainable benefits for our stakeholders

OUR PURPOSE

To create economic value for all our stakeholders

OUR VALUES

Safety and people first

Mining is a high-risk business and cannot succeed without total trust, respect, teamwork and an uncompromising commitment to safety and people first

Promises delivered

We do what we say we will do

Mutual interests and mutual rewards

We have mutual goals and mutual interests and we depend on each other to realise our vision and mission. We operate in good faith, openly and transparently.

These values are designed to deliver earnings and growth and create shared value for our stakeholders through responsible safe mining

Measuring our performance

FINANCIAL CAPITAL

EBITDA of R489.7 million (2015: R297.9 million)
EBITDA margin of 14.7% (2015: 9.8%)
R585.3 million in cash generated by operating activities (2015: R619.2 million)
R835.5 million in cash reserves (2015: R917.6 million)
74% of BRPM JV capex requirements funded from excess cash flows from our BRPM operations and Styldrift I on-reef development revenue (2015: 30%)

MANUFACTURED CAPITAL

Steady progress with Styldrift I build-up to 50ktpm
12.3% increase in total tonnes delivered
9.4% increase in 4E ounces produced
10.4% increase in unit cash cost per tonne milled to R1 177 (2015: R1 066)
7.8% increase in unit cash cost per Pt ounce to R15 639 (2015: R14 504)

SOCIAL AND RELATIONSHIP CAPITAL

R36.0* million spent on our SLP commitment (2015: R74.6 million) * This amount excludes R251.1 million invested in our employee home ownership scheme to date
R1.6 billion spent with HDSA suppliers (79.6% of our total discretionary

NATURAL CAPITAL

RBPlat awarded CDP A grade for water management - one of only 24 global leaders in water management
40.5% decrease in potable water usage year-on-year
7.8% reduction in carbon intensity
5.6% increase in total energy consumption as a result of increased activity at Styldrift I

INTELLECTUAL CAPITAL

Measuring our performance
We have measured our performance against our material issues. While we have not identified specific material issues in terms of our intellectual capital, we use our intellectual capital to achieve our material issue targets in financial, manufactured, human, social and relationship and natural capital

HUMAN CAPITAL

Safety

80.0% improvement in fatal injury frequency rate (FIFR)
7.1% improvement in lost time injury frequency rate (LTIFR)
62.4% deterioration in serious injury frequency rate (SIFR)
31.5% improvement in total injury frequency rate (TIFR)

Health and wellness

Reduction in TB incidence rate to 767/100 000

STRATEGIC REVIEW

Chairman's letter to stakeholders