Integrated Annual Report 2015
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Résumé 
Operating environment

Sustainable value creation

 
Stakeholder considerations
  • Shareholders’ return
  • Employees/labour
  • Communities
  • Labour dynamic
  • Safety
       Our stakeholder landscape is characterised by:
  • a challenging labour relations environment as a result of workplace and social wage issues. Specific initiatives centre around ensuring safe and effective people
    • managing organised labour and the entry of new unions
    • embedding effective employee relations
  • a shifting socio-political environment and the importance of developing a shared vision and social compact with local communities
  • prudent stewardship and continuous investment into the business to ensure value for shareholders
         
 
Access to resources
  • Power
  • Water
  • Mineral reserves and resources
       The success of the industry is dependent on:
  • access to quality mineral reserves and resources
  • its ability to manage constrained power and water supplies and the development of optionality to mitigate impacts
 
Regulatory environment
  • RSA (MPRDA/Charter/DMR)
  • ZIM (Indigenisation/Beneficiation/Tax & Royalty)
  • Environmental legislation (Carbon footprint)
       The sector has significant potential to contribute to economic growth through ongoing engagement and involvement particularly with regard to:
  • further clarity around the new mining charter
  • meeting the imperatives of the National Development Plan, the Industrial Policy Framework and the President's Framework Agreement for a sustainable mining industry
  • participation in the Project Phakisa discourse to optimise regulatory and practical demands on the mining industry
The industry supports the Zimbabwean government's attempts to grow its local economy. Dialogue between producers and regulators continue in regard to:
  • the objective of increased local beneficiation
  • indigenisation
   
   
 
Market

Fundamentals (Supply demand)

  • Prices
  • Outlook
    
  Market fundamentals remain sound despite prevailing low PGM prices