Our sustainability plan is our business plan
When Randgold first set out to build an Africa focused gold mining company that delivered value to all stakeholders, we made sustainability the foundation of our business model. Twenty-one years later, we can clearly see how that commitment positively impacts both our company’s profit margins and the development of our host countries and communities.
For example in 2016 we saw our malaria programme drive down the incidence of this disease further, and therefore absenteeism dropped by over 12%. Our increased use of clean energy decreased power costs. And we also saw our business change lives. From the schools near our Gounkoto mine, where the pass rates were transformed from the worst in the region to one of the best in the country; to the story of deaf six year-old Nassara Coulibaly who was given an opportunity to participate at the Randgoldsponsored Côte d’Ivoire golf academy and who was subsequently examined by Randgold medics, who found a treatment to help her hear for the first time.
As detailed in this report, we have tried to deepen our impact further this year by aligning our sustainability efforts with the UN’s Sustainable Development Goals.
Building a health and safety culture
Our top sustainability priority is the health and safety of our workforce and I am pleased to report a 22% drop in our Lost Time Injury Frequency Rate (LTIFR) to the lowest rate in our history, along with zero fatalities. We also made progress in areas such as the fight against HIV/AIDS, our management of water risk and our recruitment and retention of the best talent from host countries.
The year also had many challenges. For example, unexpectedly high rainfall in Côte d’Ivoire led to increased water abstraction and a downturn in our water recycling rate; and in DRC demonstrations by the artisanal mining community early in the year led to the destruction of property and required government intervention. The latter was ultimately turned into a catalyst for greater engagement from the government and led to the peaceful and successful relocation of many illegal artisanal miners.
We cannot rest on our laurels. Sustainability is part of our DNA and in 2017 we will continue to work in partnership with all our stakeholders to maintain a sustainably profitable business that also protects our environment and promotes economic development in all our host countries.