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Southern Africa Site visit - November 2016

Becoming partners in the future

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Our approach

The diversified miner

Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies.

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 who mine, process and move and market our products – from diamonds (through De Beers) to platinum and other precious metals and copper – to our customers around the world.

As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference.

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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 ambition is to create a resilient business that delivers robust profitability and cash flows through the price cycle.

We will achieve this through our three strategic choices: where we compete, how we win and our critical core skills.

These strategic choices are at the heart of our strategy. These are the key principles which we need to focus on to ensure success.

We have specific objectives and targets for 2016:

  • Be free cash flow positive at current prices and exchange rates.
  • Deliver $1.9 billion of EBIT from additional cost and productivity improvements vs. 2015.
  • Generate $3-4 billion from disposals in 2016.
  • Reduce net debt to less than $10 billion (once the above targets are reached) by end of 2016.
  • Start delivering the step-change reduction in central and global support costs as the organisation aligns to the streamlined operating footprint.

Route to success

Within our strategy, we have four strategic imperatives, which provide the framework to focus on how we deliver to achieve our ambition and 2016 targets. They are:

  1. Focus the portfolio.
  2. Focus on delivery.
  3. Enhance core business processes.
  4. Creating a high performance culture.

We will measure our results through a business scorecard which is based on our seven pillars of value. 

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 comprises the Chairman, three executive directors and six independent non-executive directors. The board provides leadership to the Group and is responsible for its long term success.

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.