Download Annual Report 2006 - Foskor

MISSION• We accept our responsibility towards all stakeholders inclusiveof the communities in which we conduct our business.• Our primary business is the beneficiation of phosphate rockconcentrate for the production of phosphoric acid and phosphate-based fertilisers, which are sold into the international anddomestic markets.• Our secondary business activities include:– The production of electrofused zirconia from zircon sand; and– The recovery of low concentrates of copper sulphide minerals.• The Group is committed to:– Competitive, reliable, effective production and marketing;– Striving for excellence as the benchmark of all our endeavours;– Providing an environment conducive to personal developmentand participation by all employees;– Complying with the spirit of the transformation process withinthe framework of legislative measures;– Maintaining the highest ethical, professional, quality and losscontrol standards; and– Continuing to be environmentally responsible.VISIONTo create, maintain and enhance a financially viable, performance-driven business, capable of delivering sustained superior financialand social returns to our shareholders.PROFILEThe Foskor Group is a well-established South African group ofcompanies. The Group has grown from a single phosphate miningoperation since 1951 to become one of the world’s largest, mostdynamic phosphate and phosphoric acid producers.The Group’s recent emergence as a world leader has been basedon various strategic initiatives, including:• Strategic capital investment to ensure a sustainableinfrastructure;• An emphasis on inter-group synergies to ensure shareholdervalue maximisation; and• A focus on expanding the core value-adding operations of theGroup.The Group has three major operating entities:• A phosphate rock mine and beneficiation plant situated inPhalaborwa;• A phosphoric acid plant situated in Richards Bay; and• A sulphuric acid plant situated in Richards Bay.A secondary activity – and valuable source of revenue – is theproduction of electrofused zirconia from zircon sand. The recoveryof copper sulphide mineral found in the phosphate ore alsocontributes to the Group’s income, while magnetite recovered fromthe foskorite ore is stockpiled as a possible future source of ironand titanium.