Strategy and risk Future performance objectives

Taking into account management’s assessment of the risks and opportunities identified under “Risks and opportunities”, and its responsibilities and involvement relating to Assmang and other group entities, the specific key performance indicators (KPIs) for the short and medium term include:

Assmang

  • maintaining steady-state production performance from Khumani Iron Ore Mine, by optimising the off-grade washing plant and the Wet High Intensity Magnetic Separation (WHIMS) plant, to ensure realisation of planned life of mine;
  • the substitution of ore from other pits at Beeshoek Iron Ore Mine with the ore from the Village Pit, which is now in operation, also pursuing options to treat historical off-grade dumps to produce on-grade product;
  • the execution of the sustainability and expansion project at Black Rock Manganese Mines, of which the expected year of completion is 2020, to increase and sustain production from the Nchwaning Mine to higher volumes, achieving sustainable production in excess of 4 million tonnes per annum of manganese ore in the long term;
  • continuing to develop the group’s market for the material produced from the upper seam at Nchwaning Manganese Mine;
  • following the successful commissioning and ramp up of both furnaces at Sakura Ferroalloys in Malaysia, to maintain high-carbon ferromanganese (HCFeMn) production on both furnaces at a total production capacity of approximately 230 000 tonnes per annum; and
  • the continued optimisation of alloy production at the group’s ferromanganese facilities in order to mitigate increases in the price of electricity, which are expected to exceed inflation rates.

Assore subsidiaries

  • enhancing the group’s position in South Africa’s chrome ore market and consolidating the production output of Dwarsrivier at levels of approximately 1,5 million tonnes per annum (refer "Operational review and commentary",
  • continuing with the development of North Shaft at Dwarsrivier and proceeding with beneficiation plant upgrades to process the run-of-mine (ROM) material from both shafts; and
  • continuing to explore early-stage opportunities in iron ore, gold, lithium and other commodities, mainly focused in Africa, through IronRidge Resources.