Effectively executing our strategy ensures we can deliver value for all our stakeholders.
Our mission
By effectively managing our high-quality portfolio across the lifecycle, we aim to build a resilient business that rewards our shareholders and contributes positively to the communities where we operate.
Our strategy
Our strategy is to maintain a high-quality portfolio and be a trusted partner, rewarding shareholders through disciplined capital allocation over the long term.
+1.1Moz
Annual production
$967/oz
AISC1
Diversification
Across multiple countries and mines
+10yrs
Production visibility
Strong
Capital allocation discipline
Our resilient business model is centred on a high-quality portfolio which has the potential to generate sufficient cash flow to re-invest in the business and reward shareholders.
We achieve this by focussing on the following key areas:
- Industry-leading operational excellence
- Proven project development
- Unlocking exploration value
- Active portfolio management
94%
National employees
11%
Women
81%
procurement sourced in our host countries
11%
Increase in economic contribution
$2.3b
economic contribution to host countries
Building strong relationships based on open and transparent dialogue with our local and national stakeholders is essential to obtaining broad-based support for our operations.
We achieve this by focussing on the following key areas:
- Employment and training
- Local procurement and economic development
- Environmental stewardship
- Transparent taxes and government ownership
$227/oz
Returned to shareholders for 20231
6.7%
Indicative shareholder returns yield2
$66m
In share buybacks for 2023
$200m
Dividend total for 2023
$903m
Cumulative shareholder returns since Q1-2021
We know the importance of engaging with our shareholders and seek to give them a strong return on their investment.
We achieve this by focussing on the following key areas:
- Ability to reward shareholders across cycles
- Prudent balance sheet management
- Competition for capital on a returns basis
- Compelling shareholder returns proposition
- This is an Alternative Performance Measure (non-GAAP measure). Please refer to the Annual Report 2023 Financial Review (pages 62 to 71) for definitions and reconciliation of Alternative Performance Measures to IFRS.
- Based on share price as of 26 February 2024
We have a strong track record of discovering ounces through our exploration programmes due to our unique approach and our ability to leverage our resources in the region. We have access to equipment and technical expertise across our portfolio that can be used to accelerate discoveries, resource definition and resource to reserve conversion in a short time period. We also own one of the largest exploration land packages in West Africa and our approach to exploration is focused on finding, delineating and realising high-margin ounces to improve the outlook for both our company and the communities in which we operate. We have discovered over 18.6 million ounces of Measured and Indicated resources since 2016 for an industry leading discovery cost of less than $25 per ounce. We are on track to achieve our discovery target of 12.0 – 17.0 million ounces of by 2025.
We have an attractive project pipeline comprised of five advanced development projects, that have been screened through our rigorous screening process to ensure they can achieve a +20% rate of return. We are currently preparing our prefeasibility study (“PFS") for the Tanda-Iguela property in Côte d’Ivoire, which is expected to be published by the end of 2024. Other important parts of this stage are the environmental and social studies which are key building blocks to ensure our license to operate.
Over the past ten years, we have successfully built five mines and projects on budget, on schedule and in under two years. This consistent success is largely attributed to our in-house expertise in project development and our long-term EPCM and technology partners.
We are committed to delivering our operational objectives and we do so by understanding the environment where we operate and by leveraging the deep technical expertise of our team. Our de-centralised operating model enables us to share skills, best practice and technical know-how across our assets enabling us to develop and operate efficiently and sustainably. As a result, we have a safety record that is superior to industry benchmarks, we have met or exceeded production guidance for the last eleven years.
1.5Moz
Annual production objective
Once a mining operation is no longer economically viable, because the ore body is exhausted or the remaining deposit becomes uneconomic to mine, work then focuses on its decommissioning and dismantling and a closure plan is implemented, which includes rehabilitating the land. We have closure plans in place at all our operations, which are designed as part of the Environmental and Social Impact Assessment that is done at the develop and design phase. These are regularly reviewed and updated during the lifetime of the operation, and rehabilitation initiatives are underway through the life of the mine. In addition, we also make financial provisions to a fund to cover the costs of implementing an environmental preservation and rehabilitation programme.
Business model
Exploration
We have a strong track record of discovering ounces through our exploration programmes due to our unique approach and our ability to leverage our resources in the region. We have access to equipment and technical expertise across our portfolio that can be used to accelerate discoveries, resource definition and resource to reserve conversion in a short time period. We also own one of the largest exploration land packages in West Africa and our approach to exploration is focused on finding, delineating and realising high-margin ounces to improve the outlook for both our company and the communities in which we operate. We have discovered over 18.6 million ounces of Measured and Indicated resources since 2016 for an industry leading discovery cost of less than $25 per ounce. We are on track to achieve our discovery target of 12.0 – 17.0 million ounces of by 2025.
Design and Develop
We have an attractive project pipeline comprised of five advanced development projects, that have been screened through our rigorous screening process to ensure they can achieve a +20% rate of return. We are currently preparing our prefeasibility study (“PFS") for the Tanda-Iguela property in Côte d’Ivoire, which is expected to be published by the end of 2024. Other important parts of this stage are the environmental and social studies which are key building blocks to ensure our license to operate.
Construction
Over the past ten years, we have successfully built five mines and projects on budget, on schedule and in under two years. This consistent success is largely attributed to our in-house expertise in project development and our long-term EPCM and technology partners.
Production
We are committed to delivering our operational objectives and we do so by understanding the environment where we operate and by leveraging the deep technical expertise of our team. Our de-centralised operating model enables us to share skills, best practice and technical know-how across our assets enabling us to develop and operate efficiently and sustainably. As a result, we have a safety record that is superior to industry benchmarks, we have met or exceeded production guidance for the last eleven years.
1.5Moz
Annual production objective
Closure and rehabilitation
Once a mining operation is no longer economically viable, because the ore body is exhausted or the remaining deposit becomes uneconomic to mine, work then focuses on its decommissioning and dismantling and a closure plan is implemented, which includes rehabilitating the land. We have closure plans in place at all our operations, which are designed as part of the Environmental and Social Impact Assessment that is done at the develop and design phase. These are regularly reviewed and updated during the lifetime of the operation, and rehabilitation initiatives are underway through the life of the mine. In addition, we also make financial provisions to a fund to cover the costs of implementing an environmental preservation and rehabilitation programme.