Page 65 - 25 Reasons

By Eugene Goddard
he world has a new way of viewing Chris Griffith, CEO of
mining and we have embraced it. It’s all Anglo American
‘Tabout having a shared purpose to Platinum
redefine what we do,” says Chris Griffith, the CEO PHOTO: LEON SADIKI
of Anglo American Platinum.
Anglo American, a global leader in mining
platinum group metals (PGMs), with the bulk of
its operations in South Africa, is redefining the
ways in which its operations can make people’s
lives better.
PGMs, which comprise six elements, including
platinum, palladium and rhodium, have numerous
applications and there are more to come as the
global economy adapts to the climate crisis.
Griffith, an industry stalwart who is celebrating
three decades in mining – starting as a night shift
cleaner and working all the way up to executive
level – said health, safety, technology and
structural changes to demand were crucial
challenges that require urgent attention.
“Perhaps the greatest factor in ensuring the
long-term sustainability of the PGM industry is
the demand for these metals. That’s why growing
the market in the jewellery, as well as in the
industrial and investment segment, will require a
concerted and coordinated effort by the
producers.
“While some demand growth takes care of
itself, such as rising demand for palladium and
rhodium in petrol vehicles’ catalytic converters
thanks to a continued expanding demand from
the automotive sector, some require active
intervention.
“There is, for example, a direct correlation
between marketing spend and platinum jewellery
demand,” says Griffith.
To stimulate investor interest in the metal, the
South African producers of PGMs founded the MINING
World Platinum Investment Council. It has worked
to generate new types of investment that did not
exist before to widen the potential pool of
investors. One possibility, albeit a long shot, is the FOR TOMORROW’S WORLD
inclusion of platinum as a reserve currency by
central banks.
“The PGMs are metals with unique attributes IN NUMBERS Griffith explains: “In 2013, we lost 60 of our
and they should find a role in a whole host of employees to HIV-related illnesses and TB. Last
areas tied to longer-term societal trends, from year, we had four colleagues dying from the same
medical treatments to clean energy. However, just conditions. So we were able to reduce deaths
because they are great materials, we can’t trust R609m from HIV-related illnesses and TB significantly.”
demand to miraculously appear. He stresses that “investing in the health and
“Through AP Ventures, which was set up by INVESTED IN 2018 THROUGH safety of our people simply has to be done”.
Anglo American Platinum in partnership with the INITIATIVES AIMED AT UPLIFTING Griffith also points out that getting Anglo
Public Investment Corporation, we have invested American Platinum on track for the future
in a number of companies using PGMs in new HOST COMMUNITIES meant going back to being an innovator of the
applications, often related to hydrogen and fuel industry – “one of the things that has made
cells. This is a story that has been oversold before, R142m Anglo American the market leader it is today”.
but there is clear credible progress on the ground Tough structural changes had to be made after
today in hydrogen production and distribution the global financial crisis to adapt to a PGM
areas, notably in China, Japan and California.” OF THAT PAID OUT TO market in oversupply. A heavily indebted Anglo
This development of future markets is part of COMMUNITY SHAREHOLDERS American Platinum had to restructure its portfolio
Anglo American Platinum’s holistic approach to IN DIVIDENDS to focus on mining profitable ounces, shutting
sustainable mining, Griffith says – all with a view loss-making shafts and selling most of its deep-
to sustain its host communities and maximise the level, underground mining operations in the
benefits of mining, while also prioritising safety 474ha process.
and innovation. “We’re in a whole different place compared
The company’s care, not only for those who OF LAND TRANSFERRED with a few years ago. Now we’re in a position
work for it directly, but for their families and the TO ADVANCE SUSTAINABLE where we can continue to invest in communities,
larger host communities where it operates, has we can invest in growth and we can start
become one of its greatest success stories. LAND REFORM TO DATE employing people in new projects,” says Griffith.
ANGLO AMERICAN 25 REASONS TO BELIEVE 65