Performance
Outlook
In 2009, the scope of exploration programmes will be reduced significantly as part of the Group's cost saving measures. The Exploration group will explore for a narrower range of commodities in a total of 14 countries. The global number of employees in 2009 will be reduced to 300 people.
Focus in 2009 will shift from cost intensive drilling of advanced projects to the re-invigoration of early stage activities. Reactivation of major drilling programmes will await an improvement in the market environment.
Divestment of Tier 2 assets will continue where real value can be realised, with a target of 100 per cent of the annual greenfield exploration budget being returned to the Group.
| Project | Commodity | Country | Stage |
|---|---|---|---|
| Tamarack | nickel/copper | USA | Order of Magnitude |
| Crowsnest | coking coal | Canada | Project of Merit |
| Amargosa | bauxite | Brazil | Project of Merit |
| Altai Nuurs | coking coal | Mongolia | Order of Magnitude |
