Our Strategic Approach
Our approach to operating our assets is focused on three key pillars: our business, our people and our relationships; whilst continuing to invest in our future.
We have made significant technical changes to our business, to ensure that each of our mines is correctly engineered and set up to deliver free cash flow. At Bulyanhulu we have changed to a mechanised mining method and are working to ensure that the mine delivers in line with its geological endowment. At North Mara we are moving forward with the development of an underground operation at one of the mine’s open pits which provides strong economic and social returns. At Buzwagi we have shortened the life of the mine so that we are mining only profitable ounces.
Our second pillar is our people, who are our core asset. We have significantly reduced the levels of management, restructured our corporate offices, commenced a new cultural transformation programme (Tufanikiwe Pamoja/Together we succeed) and introduced a behavioural safety programme (Tunajali/ WeCare). We are focused on creating a high-performance culture where our people are held accountable, but are given the tools to succeed. As part of this process we have already uncovered real talent within the workforce as well as seeing talented people returning to Acacia.
We have focused on improving our relationships with the communities around our mines and with the Government. We have engaged more actively with the community, the media and our broader stakeholders. We have also worked hard to strengthen our relationships with local and national authorities to ensure that we receive the appropriate support for our business in order for us to continue to be a key economic development driver for our host countries.
The fourth element of our strategy is to invest in our future. We believe that exploration is a significant driver of value for the business over the long term and now is the time to invest, which is a contrarian view to many in the market. As a result, we are focused on building a significant land package across Africa in the most geologically prospective belts to provide our exploration group the best opportunity to discover our next mines, as well as other opportunities to drive shareholder value over the long term.