The remuneration policy is the group’s new remuneration policy on directors’ remuneration, which was approved by a binding vote at the 2017 AGM. In setting the policy, the Remuneration Committee has taken the following into account:

• The need to align the interests of shareholders as a whole with the long-term growth of the group; and

• The need to be flexible and adjust with operational changes throughout the term of this policy

The remuneration of non-executive directors is determined by the board, and takes into account additional remuneration for services outside the scope of the ordinary duties of non-executive directors.

Mining Review

The group’s strong performance in 2018 can be attributed mainly to Black Wattle, our South African coal mining operation. During the year the mine was able to benefit fully from the coal infrastructure improvement implemented in 2017 achieving an increased overall yield compared to the prior year and a consistent Run of Mine production through the washing plant. This allowed the group to benefit from the higher prices achievable for our coal during the year.

by Andrew Heller
25 April 2019