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Becoming partners in the future

Our approach

The diversified miner

Anglo American is a global and diversified mining business that provides the raw materials that are essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and mine, process, move and market our products – from bulk commodities and base metals to precious metals and diamonds – to our customers around the world.

Our diversified portfolio of products spans the economic development cycle and presents us with many options to create value and opportunities to work more effectively and efficiently. This includes where we choose to allocate capital and time to grow the business and how we enhance our margins across the value chain to deliver sustainable returns.

As a responsible miner we are the custodians of these precious resources. We need to work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders – who own the business – but also for the communities and countries in which we operate. Why? Because we believe that attractive returns are sustainable only if we also deliver value to society, as judged by these key stakeholders.

The diversified miner We are Anglo American Our ambition How we deliver How we work together

Vision, mission and values, culture and brand

While our aim has always been to generate returns for our shareholders, how we accomplish this – by striving to make a real and lasting contribution to society – is fundamental and defines us as a company. We believe that this is best done through forming mutually beneficial partnerships, as reflected in our vision: “Partners in the future”.

We are guided by our mission: “Together we create sustainable value that makes a real difference”. This is underpinned by our core values of safety, innovation, accountability, care and respect, integrity and collaboration that translate externally into the promise we make to all our stakeholders – Real Mining. Real People. Real Difference.

We are creating an organisation where all people are treated in such a way they willingly give the best they’ve got.

Responding to our world

The world we operate in is constantly changing and our stakeholders demand solutions today. Miners cannot depend on high commodity prices to mask inefficiencies. We are refocusing our business to become more efficient and effective. This will generate cash and returns on a sustainable basis that will help us to remain competitive through the cycle and over the long term.

What we want to achieve

Our short-medium term ambition is to double our 2014 operating profit by 2020. We will do this in a way that is consistent with reaching our 15% ROCE target by the end of 2016, based on commodity prices and exchange rates as of June 2013. This will require an ongoing focus on capital discipline and costs.

The choices we have made to achieve our ambition are to:

  1. Optimise our diversified portfolio by focusing management time and prioritising capital on the mining assets that offer us the most attractive long-term value-creation potential.
  2. Maximise our performance by maintaining a highly competitive mind-set, with innovation and outstanding delivery at the forefront of how we drive change.
  3. Ensure that our people and organisation have the critical core skills to ensure we improve our returns.

Route to success

The delivery of our strategy implies a major transformation. It is an exciting opportunity and challenge that will require an integrated effort. We are mobilising our people behind four key strategic imperatives:

  1. Delivering our Driving Value programme, starting with rebuilding market credibility by delivering near-term critical tasks (Minas-Rio First Ore on Ship and ramp-up, Platinum restructure, Copper turnaround, Sishen mine optimisation, finalising the organisation restructure).
  2. Focusing the portfolio.
  3. Developing core business processes to become an industry leader in exploration, operations, project delivery and marketing to extract the full value from our assets
  4. Creating a high performance culture. Achieving this will only be possible through our people, who are the business. Our organisation model empowers our people to realise their full potential and that of our assets by ensuring that the right people are in the right roles, doing the right work.

Our strategy will help us to focus our combined efforts on those things we believe will deliver more attractive returns to shareholders in the short term but, more importantly, it provides us with the right platform for the long term.

Empowering people

Achieving this will only be possible through our people, who are the business. Our organisation model empowers our people to realise their full potential and that of our assets by ensuring that the right people are in the right roles, doing the right work. Our operating model provides a structured approach for how we set targets, plan, execute and improve work, enabling consistent delivery against expectations.

Our values

Our work spans every kind of challenge. But whatever we’re doing we always go about it in the same way. These six values form the blueprint for our way of working:

Safety

Safety

This is always first on our agenda – and with very good reason. We truly believe that ALL injuries are preventable and that by working together we can make safety a way of life, inside and outside the workplace.

Care and respect

Care and respect

We always treat people with respect, dignity and common courtesy – regardless of their background, lifestyle or position. And we're building trust through open, two-way communication every single day.

Integrity

Integrity

This means taking an honest, fair, ethical and transparent approach in everything we do. It’s not about being popular; it’s about always doing the right thing.

Accountability

Accountability

We take ownership of our decisions, our actions and our results. We deliver on our promises and acknowledge our mistakes. Above all we never pass blame.

Collaboration

Collaboration

No-one here is on their own. We’re one company with a joint ambition – all working together to make decisions and get things done more effectively.

Innovation

Innovation

Challenging the way things have always been done is a key priority for us. By actively developing new solutions, encouraging new ways of thinking and finding new ways of working, we’re dramatically improving business.

Clear roles, clear responsibilities

We’ve organised our business to reflect our values of integrity and accountability, helping us work better together while meeting the highest standards of governance.

Our board of directors includes ten independent non-executive directors, including our chairman. The board is responsible to shareholders for our performance, strategy, governance and risk management.

Our employees and contractors also play a key part in our governance, in line with our Good Citizenship Business Principles and backed up by a confidential “whistle-blowing” facility, Speak Up.

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Real Mining. Real People. Real Difference.