Integrated Annual Report 2014

Manufactured capital and intellectual capital

HOW WE SEE IT

Manufactured capital and intellectual capital encompass the collective body of intellectual and physical assets at our disposal that enable us to create value for all our stakeholders. By optimising the use of these assets, we are able to extend the lives of our operations and thus the sustainability of our business.

We continue to focus on improving the quality of our mining, investigating the potential to mine sizeable secondary reef resources economically, reassessing opportunities in high-grade areas previously not mined and removing gold-bearing accumulations in previously mined areas.

What we mean...

  • We participate fully in research and development in pursuit of technological innovations that could safely unlock the mineral reserve and resource potential of our operations in high-grade remnants and pillars, and at depth.
  • We consider the development of technology as a fundamental strategy and have identified Safe Technology as a strategic imperative.
  • We continue to assess and bring to account vast resources contained in high-grade white areas, pillars and lower grade secondary reefs.
  • We focus on quality of mining to limit costly dilution and optimise gold recovery.

MINERAL RESOURCES AND MINERAL RESERVES

  • Gold Mineral Reserves at current operations increased by 2.1Moz or 12% to 19.9Moz from 17.8Moz declared after the Cooke and Wits Gold acquisitions in May 2014, despite production depletion of 1.7Moz in 2014.
  • Underground gold Mineral Reserves increased by 2.3Moz, net of production depletion, following the successful conclusion of feasibility studies on various organic growth projects at the operations.
  • A maiden gold Mineral Resource of 8.9Moz has been declared at the Burnstone project, following significant revision of the geology models and ore reserve data.
  • We will continue to review recently acquired projects in accordance with Group protocols and procedures while assessing possible synergies with current operations.
Area mined in 2014 (m2) [chart]
Mineral Resources [chart]
Mineral Reserves [chart]

GROUP GOLD PRODUCTION IN 2014

49,432kg (1.59Moz)

GOLD PRODUCED AND SOLD (kg) IN 2014
Beatrix [chart]
Cooke [chart]
Driefontein [chart]
Kloof [chart]