Slide 1: Results for the fourth quarter and the year 2000
Results for the fourth quarter and the year 2000 Results for the fourth quarter and the year 2000
Slide 2: The fourth quarter in review
The fourth quarter in review Good performance despite reduced SA operating shifts Production up 2% Operating profit up 9% Headline earnings up 1% to R430 million Higher operating profit offset by growth spending Acquisitions add value – Morila adds 57,000oz at $88/oz cash cost, contribut
Slide 3: Overview of 2000
Overview of 2000 Operating profit up 6% to R3.27 billion Gold production up 5% to 7.24 million oz Growth and diversification projects Morila comes on stream at $88/oz Geita deal complete and project on track Australian and African projects will contribute 20 million oz at $175/oz over ne
Slide 4: Progress with the SA problem mines
Progress with the SA problem mines Great Noligwa Operating profit up 12% year on year Recovered to meet production and cost targets TauTona Cost and production performance improved steadily during 2000 Bambanani Problems with access to high grade pillars continued during 2000 Elandsrand So
Slide 5: Q4 - South African operations
Q4 - South African operations Headline earnings up 1% despite reduced number of shifts Increase in operating profit by 3% to R525 million despite reduced gold production of 4% to 41,098 kg (1.32 million ounces) Good performances by Great Noligwa, Kopanang, Tau Lekoa and Savuka Bambanani and
Slide 6: Q4 – the rest of the world
Q4 – the rest of the world Africa Gold production up 58% to 132,000 oz Cash costs down 18% to $105/oz Morila comes on stream with 57,000 oz (attributable) at $88/oz cash cost Australia Production steady at 142,000 oz Good progress with Sunrise expansion
Slide 7: Q4 – the rest of the world
Q4 – the rest of the world North America Gold production up 23% with Cortez Ore Increasing costs are a concern South America Gold production up 14% at 122,000 oz Operating profit up 18%
Slide 8: 2001 and beyond: The challenges
2001 and beyond: The challenges Improvement in operating performance in SA Focus on Bambanani and Joel Drive down costs Overheads to be reduced by 10% Hold SA operating costs neutral in rand terms Continue with rationalisation at home and asset diversification abroad
Slide 9: The gold market in review
The gold market in review Gold price stable over the quarter, in range between $275 and $265/oz Currency markets more active than gold with rand falling to R8.00 in the face of speculation Average rand price of gold for the quarter was R65,759, up 6% on previous quarter Commentators see gold