Randgold Resources
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11 January 2017

Strategic and tactical requirements of a mining long term plan

BJ Kloppers, Manager Economic Modelling & Analysis, Lonmin Central CJ Horn, Principal Mining Engineer, Lonmin Central JVZ Visser, Head Technical Services, Lonmin Central

SYNOPSIS


The long term plan in a mineral resource company is defined by the quality of the mineral resource and represents the result of a series of trade-offs to fulfil internal organisational as well as external business and legislative requirements ensuring ultimate delivery on the defined organisational strategy.

The long term plan (LTP) should as a whole align to a coherent and well defined organisational strategy, working towards a clearly defined objective while still allowing a tactical response to short term requirements of the organisation. The ability to respond tactically to changes in environment like the recent unprecedented 5 month strike on the Platinum belt post the Marikana incident is a measure of the flexibility of the plan given the agreed strategy.

This paper describes the Lonmin process of linking company strategy with long term planning, tactical planning and the execution of the plan through an annual planning cycle to maximise organisational flexibility. This flexibility enables mining companies to respond to the many internal and external forces which impact on both strategy formulation and delivery of results that meet shareholder expectation.

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