Annual Results for the year
ended 31 December 2021
Creating economic value for all our stakeholders by delivering
MORE THAN MINING
| 67% ownership | |||||||||||||||
| Unit | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||
 FINANCIAL CAPITAL |
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| Revenue | R (million) | 2 865 | 3 251 | 3 768 | 3 045 | 3 342 | 3 499 | ||||||||
| Net cash/(debt) | R (million) | 650 | 773 | 1 864 | 918 | 836 | 1 333 | ||||||||
| Headline earnings/(loss) per share | Cents | 104 | 173 | 239 | (83) | 87 | 56 | ||||||||
| Average rand basket price | R/4E oz | 10 651.7 | 11 611.1 | 12 814.6 | 11 147.4 | 12 189.1 | 12 409.5 | ||||||||
| Income from Impala royalty agreements | R (million) | 61.8 | 75.2 | 18.2 | 46.7 | 65.7 | 85.9 | ||||||||
| EBITDA | R (million) | 634 | 1 008 | 1 189 | 298 | 490 | 572 | ||||||||
| EBITDA margin | % | 22.1 | 31.0 | 31.6 | 9.8 | 14.7 | 16.4 | ||||||||
| Return on capital employed (ROCE) | % | 1.6 | 2.8 | 3.3 | (29.4) | 1.1 | (4.0) | ||||||||
 MANUFACTURED CAPITAL |
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| BRPM IMS panel ratio | ratio | 1.48 | 1.52 | 1.7 | 1.51 | 1.58 | 1.68 | ||||||||
| Styldrift IMS section ratio | ratio | — | — | — | — | — | — | ||||||||
| Total tonnes hoisted | (kt) | 2 329 | 2 308 | 2 477 | 2 429 | 2 774 | 3 011 | ||||||||
| BRPM | (kt) | 2 329 | 2 308 | 2 477 | 2 365 | 2 365 | 2 426 | ||||||||
| Styldrift | (kt) | — | — | — | 64 | 409 | 585 | ||||||||
| Total tonnes milled | (kt) | 2 375 | 2 301 | 2 479 | 2 461 | 2 762 | 3 021 | ||||||||
| BRPM | (kt) | 2 375 | 2 301 | 2 467 | 2 389 | 2 348 | 2 449 | ||||||||
| Styldrift | (kt) | — | — | 12 | 72 | 414 | 572 | ||||||||
| Built-up head grade (4E) | (g/t) | 4.07 | 4.38 | 4.29 | 4.11 | 4.03 | 3.94 | ||||||||
| BRPM | (g/t) | 4.07 | 4.41 | 4.30 | 4.14 | 4.18 | 4.16 | ||||||||
| Styldrift | (g/t) | — | 1.72 | 1.41 | 3.06 | 3.12 | 2.99 | ||||||||
| 4E metals in concentrate | (koz) | 269 | 280 | 294 | 278 | 304 | 328 | ||||||||
| BRPM | (koz) | 269 | 280 | 294 | 272 | 275 | 283 | ||||||||
| Styldrift | (koz) | — | — | 0.4 | 6 | 29 | 45 | ||||||||
| Cash operating cost per 4E ounce | (R/4E oz) | 7 616 | 7 519 | 8 039 | 9 359 | 10 068 | 9 941 | ||||||||
| BRPM | (R/4E oz) | 7 616 | 7 519 | 8 039 | 9 359 | 10 068 | 9 941 | ||||||||
| Styldrift | (R/4E oz) | — | — | — | — | — | — | ||||||||
| Capex | R (million) | 1 192 | 1 059 | 1 724 | 2 009 | 1 127 | 2 160 | ||||||||
| Capex funded from operational cash flows | % | 58.5 | 84.5 | 81.1 | 29.8 | 48.5 | 26.1 | ||||||||
| INTELLECTUAL CAPITAL |
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| Board independent non-executive directors | % | 60 | 50 | 64 | 64 | 64 | 70 | ||||||||
| Board gender diversity: % women | % | 30 | 20 | 36 | 36 | 36 | 40 | ||||||||
| Board racial composition — black % | % | 50 | 50 | 45 | 45 | 45 | 40 | ||||||||
 HUMAN CAPITAL |
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| Number of employees (including contractors and corporate office employees) | Number | 7 518 | 7 929 | 8 900 | 7 281 | 7 400 | 8 372 | ||||||||
| Women in mining (full—time employees) | % | 12.9 | 10.9 | 12.3 | 15.1 | 14.1 | 15.9 | ||||||||
| Training investment | R (million) | 95.6 | 99.1 | 114.4 | 83.9 | 62.0 | 73.5 | ||||||||
HIV/Aids: Number of employees and contractors on antiretroviral treatment (ART)  |
Number | 430 | 412 | 452 | 572 | 658 | 622 | ||||||||
| TB incidence rate (/100 000) — the numbers recorded from 2010 to 2013 were prevalence rates |
/100 000 | 430 | 412 | 805 | 937 | 767 | 765 | ||||||||
| Fatalities | Number | 1 | 2 | 2 | 5 | 1 | — | ||||||||
| LTIFR |
/1 000 000 hours | 3.379 | 3.069 | 2.664 | 2.045 | 1.902 | 2.753 | ||||||||
| NIHL exceeding 10% |
Number | 21 | 27 | 19 | 13 | 9 | 10 | ||||||||
 SOCIAL AND RELATIONSHIP |
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| Our social investment including our SLPs |
R (million) | 126.9 | 105.2 | 133 | 74.6 | 287.1 | 40.5 | ||||||||
| Discretionary procurement from HD businesses |
(Average %) | 59.4 | 64.7 | 68.1 | 74.2 | 79.6 | 87.0 | ||||||||
| Home ownership (number of families living in purchased homes) | Number | — | — | 259 | 393 | 395 | 763 | ||||||||
 NATURAL CAPITAL |
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| Mineral resources inclusive of reserves — measured, indicated and inferred | (Mt) | 244.2 | 243.0 | 243.1 | 241.8 | 238.8 | 235.6 | ||||||||
| GHG emissions (Scope 1 and 2) |
(tCO2e) | 337 709 | 292 773 | 326 606 | 304 674 | 318 220 | 333 956 | ||||||||
| Energy efficiency — for BRPM concentrator | (kWh/tonne) | 50.6 | 44.6 | 45.3 | 52 | 47.4 | 46.2 | ||||||||
| Total water use efficiency | (Ml/kt milled)** | 1.748 | 1.634 | 1.671 | 1.998 | 1.598 | 1.405 | ||||||||
| 100% ownership | |||||||||
| Unit | 2018 | 2019 | 2020 | 2021 | |||||
| FINANCIAL CAPITAL |
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| Revenue | R (million) | 3 627 | 7 492 | 13 379.4 | 16 428.7 | ||||
| Net cash/(debt) | R (million) | (832) | (491) | 1 643.2 | 4 898.4 | ||||
| Headline earnings/(loss) per share | Cents | 25 | 50 | 1 354 | 2 325 | ||||
| Average rand basket price | R/4E oz | 13 715.8 | 18 667.9 | 31 062.1 | 35 215.9 | ||||
| Income from Impala royalty agreements | R (million) | 98.8 | 146.8 | 382.4 | 738.5 | ||||
| EBITDA | R (million) | 504 | 1 756 | 6 647 | 8 531 | ||||
| EBITDA margin | % | 13.9 | 23.4 | 49.7 | 51.9 | ||||
| Return on capital employed (ROCE) | % | 1.0 | 2.2 | 17.7 | 22.4 | ||||
| MANUFACTURED CAPITAL |
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| BRPM IMS panel ratio | ratio | 1.92 | 1.87 | 1.71 | 2.09 | ||||
| Styldrift IMS section ratio | ratio | 0.5 | 0.8 | 1.14 | 1.40 | ||||
| Total tonnes hoisted | (kt) | 3 349 | 3 792 | 4 140 | 4 639 | ||||
| BRPM | (kt) | 2 269 | 2 244 | 2 175 | 2 434 | ||||
| Styldrift | (kt) | 1 080 | 1 548 | 1 965 | 2 205 | ||||
| Total tonnes milled | (kt) | 3 420 | 3 847 | 3 990 | 4 628 | ||||
| BRPM | (kt) | 2 299 | 2 222 | 2 096 | 2 457 | ||||
| Styldrift | (kt) | 1 121 | 1 625 | 1 894 | 2 171 | ||||
| Built-up head grade (4E) | (g/t) | 3.96 | 3.91 | 3.93 | 3.86 | ||||
| BRPM | (g/t) | 4.21 | 4.01 | 3.97 | 3.88 | ||||
| Styldrift | (g/t) | 3.45 | 3.77 | 3.89 | 3.83 | ||||
| 4E metals in concentrate | (koz) | 368 | 401 | 419 | 467 | ||||
| BRPM | (koz) | 266 | 241 | 224 | 249 | ||||
| Styldrift | (koz) | 102 | 160 | 195 | 218 | ||||
| Cash operating cost per 4E ounce | (R/4E oz) | 10 468 | 14 139 | 15 560 | 16 770 | ||||
| BRPM | (R/4E oz) | 10 468 | 12 562 | 14 141 | 15 599 | ||||
| Styldrift | (R/4E oz) | — | 16 504 | 17 185 | 18 108 | ||||
| Capex | R (million) | 3 459 | 1 661 | 1 815 | 1 810 | ||||
| Capex funded from operational cash flows | % | 37.3 | 68.1 | 100.0 | 100.0 | ||||
| INTELLECTUAL CAPITAL |
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| Board independent non-executive directors | % | 64 | 54 | 64 | 67 | ||||
| Board gender diversity: % women | % | 36 | 31 | 36 | 33 | ||||
| Board racial composition — black % | % | 55 | 54 | 55 | 56 | ||||
| HUMAN CAPITAL |
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| Number of employees (including contractors and corporate office employees) | Number | 9 508 | 10 087 | 10 593 | 11 024 | ||||
| Women in mining (full—time employees) | % | 17.1 | 17.8 | 19.0 | 19.8 | ||||
| Training investment | R (million) | 112.4 | 129.2 | 112.7 | 97.0* | ||||
| HIV/Aids: Number of employees and contractors on antiretroviral treatment (ART) |
Number | 627 | 785 | 1 271 | 1 640 | ||||
| TB incidence rate (/100 000) — the numbers recorded from 2010 to 2013 were prevalence rates |
/100 000 | 631 | 416 | 308 | 172 | ||||
| Fatalities | Number | 2 | 2 | 1 | 1 | ||||
| LTIFR |
/1 000 000 hours | 2.475 | 1.900 | 1.318 | 1.943 | ||||
| NIHL exceeding 10% |
Number | 13 | 10 | 5 | 3 | ||||
| SOCIAL AND RELATIONSHIP |
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| Our social investment including our SLPs |
R (million) | 63.2 | 65.8 | 92.0 | 169.2 | ||||
| Discretionary procurement from HD businesses |
(Average %) | 86.7 | 86.6 | 82.2 | 86.3 | ||||
| Home ownership (number of families living in purchased homes) | Number | 999 | 1 136 | 1 404 | 1 503 | ||||
| NATURAL CAPITAL |
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| Mineral resources inclusive of reserves — measured, indicated and inferred | (Mt) | 348.0 | 349.4 | 348.5 | 343.4 | ||||
| GHG emissions (Scope 1 and 2) |
(tCO2e) | 341 746 | 427 633 | 450 311 | 513 922 | ||||
| Energy efficiency — for BRPM concentrator | (kWh/tonne) | 45 | 46.6 | 46.2 | 48.3 | ||||
| Total water use efficiency | (Ml/kt milled)** | 1.220 | 1.233 | 1.075 | 1.171 | ||||
| * | A change in our application of the Mining Charter guidelines to the calculation of our spend on legal and mandatory training has resulted in a reduction in our spend in this regard in 2021 |
| ** | Includes all recycled water and excludes toll treated ore |