Performance
Key achievements
RTIT began production of ilmenite at the QIT Madagascar Minerals (QMM) mineral sands operation at Fort Dauphin in Madagascar. First production in December was a major landmark in a project which, notwithstanding many complex environmental, social and technical challenges, could become a model for future projects in Africa and elsewhere in the developing world.
During 2008, negotiations progressed at Richards Bay Minerals (RBM) on the divestment of 26 per cent of the business to a consortium of historically disadvantaged groups in order to meet the requirements of legislation governing broad based economic empowerment in the South African mining industry.
Rössing Uranium has continued on its growth path, with total production of nine million pounds in 2008, the first time this volume has been achieved since 1988.
The first sale of uranium from Australia to China was completed in 2008, following the ratification of a bilateral safeguards agreement between the two governments.
Following a review of its asset portfolio, the group sold the Tarong coal mine to Tarong Energy Corporation and the Kintyre uranium project in Australia to a joint venture comprising Cameco Corporation and Mitsubishi Development.
Significant progress was made on development of the Clermont coal mine and construction started on an extension of the Kestrel underground coal mine.
Operational excellence programmes in all businesses continued to deliver improvements by systematically eliminating waste, reducing process variability, and engaging and empowering the workforce. Many operations delivered record production and sales results throughout the year and safety performance continued to improve.
