Industry Productivity Dropped 30%: Mark Cutifani

Toronto: Productivity remains number one operational challenge for the industry as it has dropped by 30% over the last decade, said Mark Cutifani, CEO of Anglo American, in his speech at the Prospectors and Developers association of Canada convention.

Cutifani reported that since 2012 Anglo American has increased its productivity by 41%, delivering 8% more product, from a 1/3 fewer assets. The number of environmental incidents has decreased by 87%.

Anglo American has also reduced its net debt by 34% in a year, said Cutifani. He outlined the importance to show resilience “through our balance sheets, acting responsibly and understanding that increased macro, geopolitical and other uncertainties require greater operational discipline, and a different approach to the way we develop and finance our businesses”.