Integrated report 2023

About us

Products, services & development

Sustainability

Investors

Careers

Media

Find out more about the Lambasi agricultural initiative in South Africa, supported by the Zimele fund.

Origins

Suppliers

We believe the actions we are taking in 2024 are critical to improve our competitive position and protect long-term returns from a commodity complex that remains critical for future generations.

Comprehensive reporting process

This integrated annual report is one of our primary communications with stakeholders, particularly investors – creditors (providers of capital) and equity investors (shareholders).

It is the result of a comprehensive reporting process overseen by the board and led by the platinum executive management committee (PMC) after company-wide collaboration. It is assured through our combined assurance model. We discuss how our integrated-thinking approach to decisions, management and reporting enables us to create and preserve value in fulfilling our purpose of re-imagining mining to improve people’s lives.

Performance highlights

Operating countries

Number of sites

31%

TRCFR down

Total number of fatalities

R85 billion

Total contribution to society

R12 billion

Dividends paid (including dividends to Thobo employee trust)

~30%

The world’s PGM Resources and Reserves

85%

Historically disadvantaged persons (HDPs) in management

Chairman's review

“Heightened global macroeconomic uncertainty and significantly lower dollar prices for our commodities contributed to a challenging operating environment. Our results prove the value of a dynamic strategy that ensures Anglo American Platinum’s resilience in the face of headwinds.”

Norman Mbazima
Chairman

CEO

“2023 was a challenging year and I appreciate the hard work of the Anglo American Platinum team. The discipline of getting the basics right has helped us achieve a record safety performance and deliver stable production in the context of a difficult operating and macroeconomic environment.”

Craig Miller
Chief executive officer

COO

“Safety at Amandelbult has improved significantly, with the operation achieving three consecutive years fatality-free and 10 million fatality-free shifts.”

Riaan Blignaut
Chief operating officer

Acting CFO

“In response to external pressures, primarily due to the low PGM basket price, we have embarked on sustainable cost and capital optimisation initiatives, which are expected to deliver R5 billion in cost savings from a 2023 baseline and a R5 billion reduction in stay-in business capital expenditure.”

Sayurie Naidoo
Acting chief financial officer

Our strategy defines our choices and actions to deliver

Our business

As a leading primary producer of PGMs, we are committed to a safe, sustainable, competitive and profitable business that benefits our host countries, communities, people and shareholders.

Value proposition

Our investors provide the capital that enables our business to operate and grow. They in turn want consistent, reliable returns.

Governance

At the core of our governance philosophy is a commitment to ethical leadership, accountability and transparency, thus creating legitimacy.

Business model and markets

Our business model is continuously reviewed against a complex and changing operating context.

Performance

In a year characterised by ongoing uncertainty and volatility, we continue to prove the value of a dynamic strategy that enables Anglo American Platinum to remain resilient in the face of external and internal headwinds.

Responsible mining

In February 2024, our Mototolo and Amandelbult mines respectively achieved IRMA 75 and IRMA 50 while Unki Mine retained its IRMA 75 certification.

Mototolo and Amandelbult were assessed against the Initiative for Responsible Mining Assurance’s (IRMA) comprehensive mining standard for the first time. This reflects our integrated approach to sustainability and commitment to transparency in striving for the highest levels of responsible PGM production.

The IRMA assurance process has given us a valuable opportunity to measure performance at Amandelbult and Mototolo against international best sustainability practices and identify next steps for improvement. Retaining IRMA 75 at Unki also provides assurance that we continue to implement the highest standards of responsible mining. We are immensely proud of the work the teams have been doing across these operations to support responsible mining and we look forward to continuing to lead the way in the mining sector globally.