Audited Annual Results


for the year ended 31 December

Currently viewing: Home | Next: Our purpose

Key features of our performance in 2019

Balance sheet optimisation

through rights offer and gold streaming agreement

Headline earnings per share of

50.4 cents

(2018: 25.0 cents)

68.1%

of capital expenditure funded from cash generated by operations (2018: 37.3%)

Net debt1 position of

R491.3 million

(2018: R832.4 million)

Cash position2 of

R814.2 million

(2018: R883.5 million)

Key features of our performance in 2019

12.8%

increase in tonnes delivered to 3 829kt (2018: 3 395kt)

9.3%

increase in Styldrift built-up head grade to 3.77g/t (4E) (2018: 3.45g/t (4E))

12.5%

increase in tonnes milled to 3 847kt (2018: 3 420kt)

9.0%

increase in 4E metals in concentrate to 401koz (2018: 368koz)

12.2%

year-on-year increase in BRPM cost per tonne milled to R1 361 (2018: R1 213)

Key features of our performance in 2019

Two fatalities

38.1%

improvement in RBPlat's SIFR year-on-year

23.2%

improvement in RBPlat's LTIFR year-on-year

14.9%

improvement year-on-year in total training and development costs

Key features of our performance in 2019

11.8%

increase year-on-year in local HDSA procurement spend to R1.7 billion

R65.8 million

investment in our social and labour plan (2018: R63.2 million)

Key features of our performance in 2019

Awarded

CDP B scores

for our voluntary disclosure in the CDP water and climate change 2019

R7.3 million

cost savings in potable water using our water treatment plant

Disappointing

25.3%

increase in GHG emissions due to inclusion of Maseve data and increased production at Styldrift

Commentary

Overview

RBPlat witnessed a recovery and strengthening of the macro-PGM market fundamentals, resulting in a healthy basket price. However, the domestic environment remained challenging given the general elections in May 2019; the local union leadership elections; wage negotiations; an unpredictable Eskom power grid; a dearth of trackless competence and skills; and the expectations of our doorstep communities. From an operational perspective, the year represented a continued transitionary phase across the Group as Styldrift moved from a project environment to commercial operating status, and BRPM was required to maintain steady results despite a rapidly depleting South shaft Merensky reserve.

Read commentary