Integrated report
Profile
Organisational overview and activities
- Business model
- Assurance
- History of the group
- Group at a glance
- Group structure of operating companies
- Location of operations
- Governance structure
Risks and opportunities
- Operating context
Strategic objectives
- Strategy
- Key performance indicators
Organisational performance
- Financial highlights
- Operational review and commentary
Future performance objectives
Remuneration
Remuneration
The group’s remuneration policy is structured to ensure that all staff are remunerated fairly for the level of responsibility assumed in performing their roles. The policy also takes into account that mining is a long-term business, and that certain essential skills are required to ensure the sustainability of its operations throughout the various commodity and economic cycles to which the group is exposed. Management is therefore wary of making direct links between the achievement of short-term KPIs and levels of remuneration. Remuneration of the group executive directors is determined by the Remuneration Committee, and the executive directors in turn determine the remuneration of the employees in conjunction with the human resources department and the relevant departmental heads. The levels of remuneration are benchmarked annually within the mining industry and, where appropriate, within the relevant professions of the employees. Bonus awards are made to all staff, based on length of service, as well as to senior staff on a discretionary basis, dependent mainly on the financial performance of the group and the successful achievement of its long-term strategic objectives.