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Group Chief Executive Officer/Executive Director’s Report
22
“Our aim is to be a premier
international tin mining
and smelting company,
by becoming the partner
of choice in the global tin
industry.”
oUR
vISIon
anD StRategY
We are a global leader in the
production of tin metal and tin based
products and have a long and successful
history of conducting our business in a safe, efficient
and socially responsible manner for the benefit of our
shareholders. We will continue to build on the foundation of
our successful integrated tin mining and smelting business
with a global network of capabilities and an articulated vision
to earn superior returns to our shareholders.
Our aim is to be a premier international tin mining and
smelting company, by becoming the partner of choice in the
global tin industry. We will achieve this by continuing to focus
on developing and operating an efficient business model,
embed sustainability and safety in everything we do, and
attract and retain the best talent.
Our niche expertise in tin is continually being strengthened
in all areas over the entire supply chain covering geology,
mining, mineral processing, smelting, marketing, financing as
well as resource and sustainable management.
Building on Success: Developing Resources for the Future
We are actively pursuing
investments in mine and
smelter expansions to grow our
production profile, improve efficiencies,
and generate increased cash flows and profits.
We are also continuing to pursue opportunities to increase
our tin reserves by identifying and undertaking exploration for
new tin resources as well as strategic acquisitions of quality
exploration and mining assets. We are mindful of undertaking
any high risk grass-root greenfield exploration. Our focus will
be on advanced exploration and development assets, quality
income generating operations as well as prudent management
in our pursuit for growth.
oUR peRFoRmance
Staying Focused to Deliver Value
Following three quarters of significant improvement in
operational and financial performance, the Group, along with
the entire global tin industry, encountered turbulent headwinds
in the final quarter of 2011. Global economic fundamentals
and sentiments deteriorated, demand contracted and prices
plunged downwards impacting adversely on sales, profits and
cash flows. Nevertheless, overall, we performed well in 2011
with higher production, better earnings and stronger balance
sheet.
We remain confident that the Group’s strong foundation and
perseverance stay intact. The mining industry exacts nothing
less than tremendous grit, resilience and instinct to succeed. At
a time enveloped with unprecedented economic uncertainty,
it is only natural we adopt the same attitude to ensure our
continued survival. With perseverance, we will prevail these
turbulent times.