The Implats 2010 annual report integrates the Group’s financial and non-financial performance for the first time, applying global best practice in reporting to stakeholders. The previous year’s report was published in August 2009.
The report has been compiled for the Implats Group and its subsidiaries and covers the financial year from 1 July 2009 to 30 June 2010. It includes the annual financial statements, an operational overview, a summarised mineral resources and reserves statement and a review of non-financial performance. In addition to this annual integrated report, Implats has also produced a mineral resource and mineral reserve statement 2010.
Sustainability elements have been compiled in line with the guidelines of the Global Reporting Initiative (GRI G3).
GRI reporting principles for defining report content, quality and boundary setting have been used as guidelines. As a signatory to the principles of the United Nations Global Compact, Implats has submitted a report in line with its commitment to this compact (index here). In accordance with GRI guidelines, Implats has declared a B+ level of reporting, confirmed by KPMG.
The annual financial statements were prepared according to International Financial Reporting Standards (IFRS), the requirements of the South African Companies Act, regulations of the JSE Limited (JSE) and recommendations of King II.
Reporting Mineral Resources and Reserves estimates conforms to the South African Code for Reporting of Mineral Resources and Mineral Reserves (SAMREC) and the Australian Code for Reporting of Mineral Resources and Ore Reserves (JORC), and was signed off by the competent persons, as defined by these codes.
In this report, production is reported in terms of platinum and platinum group metals (PGMs, which include platinum, palladium, rhodium, ruthenium and iridium as well as gold, also referred to as 5PGE+Au). Both historical and forwardlooking data is provided for information. Unless otherwise stated, information in this report is primarily for FY2010 while that relating to physical metals markets is provided by calendar year. There were no significant changes to organisational structure, or significant restatements of data, during the year. Where data has been restated, this is indicated.
Certain statistical information is provided for comparative purposes for up to 10 years (financial years 2001 to 2010). Information covers all subsidiary, joint venture and investment companies. For sustainability elements, information relating to managed operations is disclosed, while that for joint ventures and associates is excluded. Where information is attributable to Implats it is highlighted. In all cases, $ or dollar refers to the US dollar.
This report is available to identified stakeholders.
Printed copies may be requested from the contacts listed here.
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