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De Beers Report to Society in Review 2015

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De Beers Report to Society in Review 2015 De Beers | Report to Society in Review | 2015 BUILDING FOREVER REPORT TO SOCIETY IN REVIEW 2015 OVERVIEW PRIORITIES LOOKING FORWARD INTRODUCTION OUR BUSINESS A GLOBAL VALUE CHAIN AT A GLANCE EXPLORATION PRODUCTION ROUGH DIAMOND CUTTING, POLISHING BRANDS/RETAIL SALES AND MANUFACTURING De Beers’ exploration De Beers has both De Beers sells its rough The cutting and polishing De Beers markets activities are currently underground and open- diamond production of diamonds and the polished diamonds to focused in Canada, pit mines in Botswana, via contract sales to manufacture of diamond consumers through Botswana, South Africa Canada and South Africa. customers, known as jewellery are concentrated Forevermark, which and Namibia, where we Sightholders and in Belgium, Botswana, promises a consumer De Beers was established in 1888 and is a member of the Anglo American plc use highly sophisticated We also commercially Accredited Buyers, and China, India, Israel, that their diamond is technologies to find and mine alluvial diamonds via rough diamond Namibia, South Africa beautiful, rare and group. We are the world’s leading diamond company, with unrivalled determine the economic in Namibia using onshore auctions. and the United States. responsibly sourced; viability of deposits. extraction techniques and retails diamond expertise in the exploration, mining, sorting, valuing, selling and marketing and, in the sea, As part of our long-term We aim to support jewellery through specialised ships. contract sales, the downstream activities De Beers Diamond majority of De Beers’ such as cutting and Jewellers, our of diamonds. We believe that diamonds are a catalyst for creating value Through Element Six, diamonds are aggregated polishing in our countries our synthetic industrial independently managed and sold at 10 Sights (or of production through 50/50 joint venture and delivering socio-economic benefit in the countries and communities diamond supermaterials selling events) each year, our beneficiation strategy business, we supply with Moët Hennessy with the remainder being (see Economics chapter). Louis Vuitton. where we operate. tool and application sold via online auction. manufacturers across a diverse range of De Beers has sales global markets. operations in Belgium, A COMPANY BUILT ON PARTNERSHIP Hong Kong, Israel, Partnership sits at the heart of our business, through a number of 50/50 joint ventures with the Singapore and the United Arab Emirates. Governments of Botswana and Namibia, and our 74/26 Black Economic Empowerment Partnership with Ponahalo Holdings in South Africa. WHERE WE OPERATE ANGLO AMERICAN PLC 85% GOVERNMENT OF THE REPUBLIC OF BOTSWANA 15% THE DE BEERS GROUP OF COMPANIES EXPLORATION PRODUCTION ROUGH DIAMOND SALES BRANDS/RETAIL CANADA MINING SUPER MATERIALS 1,887,000 GLOBAL CANADA DE BEERS DEBSWANA NAMDEB ELEMENT SIX: GLOBAL AUCTION FOREVERMARK DE BEERS carats recovered, 2015 1 EXPLORATION (100%) CONSOLIDATED (50%) HOLDINGS TECHNOLOGIES SIGHTHOLDER SALES (100%) DIAMOND MINES (50%) SALES (100%) JEWELLERS 1,354 (100%) employees (74%) (100%) (50%) ABRASIVES (60%) REST OF WORLD NAMDEB SIGHTHOLDER • 1,824 employees DIAMOND SALES SOUTH • Corporate centres in CORPORATION AFRICA NAMIBIA SOUTH AFRICA BOTSWANA Luxembourg, South Africa (LAND-BASED) (74%) and the United Kingdom DTC BOTSWANA • Additional sales operations DEBMARINE (50%) in Belgium, Hong Kong, 1,764,000 4,673,000 20,368,000 Israel, Singapore, and the NAMIBIA carats recovered, 2015 carats recovered, 2015 carats recovered, 2015 United Arab Emirates (MARINE-BASED) NAMIBIA DTC (50%) 2,646 4,188 6,812 • Forevermark available employees employees employees in 35 markets. Numbers indicate percentage of De Beers’ ownership. 1 Exploration is undertaken through a number of wholly-owned and joint venture entities. OVERVIEW PRIORITIES LOOKING FORWARD De Beers | Report to Society in Review | 2015 De Beers | Report to Society in Review | 2015 1 INTRODUCTION We are humbled to play a role in connecting millions of people around the world to the diamond dream. Our operations and leadership position across the diamond pipeline enable us to create development opportunities in the communities where 04 we live and work, and ensure that people can be proud to 02 wear a diamond from The De Beers Group of Companies. OVERVIEW We call this Building Forever – our commitment to create a lasting positive INVESTING FOR THE legacy, and to grow and protect the special place diamonds hold in the lives LONG TERM of consumers. Partnership is at the heart of this approach. We are proud to play a part in the development of partner countries and communities, working together to maximise enduring value from their finite natural resource. And our collaborations across industry and beyond set ever higher ethical standards, providing confidence to generations of consumers. 12 This review presents a summary of our 10th annual Report to Society and charts our sustainability performance in 2015. Despite significant market DRIVING CHANGE challenges throughout the year, our Report to Society reflects the unwavering ACROSS THE INDUSTRY commitment of our people to continue Building Forever. AND OUR BUSINESS 18 24 About this review For the purposes of our data reporting, without obtaining specific professional This review presents performance data we provide figures to one decimal place, advice. No representation or warranty for those businesses that De Beers either except where it is necessary to use (express or implied) is given as to the owns or has a significant shareholding two decimal places for more accurate accuracy or completeness of the WORKING IN LOOKING FORWARD in, and that have economic, social and reporting. Any inconsistencies between information contained in this report, environmental impacts. De Beers the data, charts or percentage changes and, to the extent permitted by law, the PARTNERSHIP Diamond Jewellers, an independently reported are due to this rounding. authors and distributors do not accept or managed joint venture company, is not assume any liability, responsibility or duty included in the scope of this review. All performance data for joint ventures of care for any consequences the reader Use of ‘De Beers’, ‘our’ or ‘we’ relates included in this publication is reported on or anyone else may incur from acting, to The De Beers Group of Companies, a a 100 per cent basis unless otherwise stated. or refraining from acting, in reliance collective term used for both wholly-owned on the information contained in this and joint venture business entities that Disclaimer publication or for any decision based on De Beers has a significant shareholding This publication has been prepared for it. © De Beers UK Limited 2016. All rights in, with the exception of De Beers general guidance on matters of interest reserved. De Beers™, Forevermark™, Diamond Jewellers. only, and does not constitute professional A Diamond is Forever™ and The One™ For more information, go online advice. Readers should not act upon the are trade marks of The De Beers Group information contained in this publication of Companies. www.debeersgroup.com/buildingforever 2 OVERVIEW PRIORITIES LOOKING FORWARD De Beers | Report to Society in Review | 2015 3 WHO WE ARE Despite a challenging year for 2015 IN the diamond market, we remained 2015 IN REVIEW committed to Building Forever. NUMBERS 2015 was a challenging year for and maintenance and scaled down TOTAL DIAMOND REVENUE LOST TIME INJURY PREFERENTIAL PROCUREMENT AS PAYMENTS TO STAKEHOLDERS FREQUENCY RATE A PROPORTION OF TOTAL SPEND De Beers, with revenues declining operations at Orapa Mine’s No. 1 (LTIFR) by 34 per cent to US$4.7 billion Plant. We also took a series of steps (2014: US$7.1 billion) as demand to stimulate demand for rough for rough diamonds weakened. and polished diamonds. US$4.7bn US$3.9bn With reduced sales, the total (2014: US $7.1bn) Including partners, joint ventures, diamond revenues we returned Throughout the year, we remained governments, suppliers, employees, to stakeholders, including our focused on maximising the value shareholders and other finance providers of every carat mined and sold PAYMENTS TO STAKEHOLDERS 0.15 56% partner governments, suppliers, (2014: 0.17) (2014: 62%) (2014: US $5.7bn) business partners and employees, for our producer governments and communities. fell by 32 per cent, to US$3.9 LOSS OF LIFE INCIDENTS DIRECT EMPLOYEES BASED IN AFRICA PEOPLE COVERED BY billion (2014: US$5.7 billion). Despite the challenges of 2015, we US$3.9bn DE BEERS’ BEST PRACTICE PRINCIPLES (BPPs) We took decisive action to respond remained committed to Building (2014: US $5.7bn) to market conditions during 2015 Forever by: 81% to protect the health of our • Investing for the long term (2014: 81%) business and the diamond in production, people and revenues that play a critical role socio-economic benefit in development in our producer Asia Europe and Americas Africa 320,000 partner countries. We cut • Driving change across the 0(2014: 0) Middle East (primarily (2014: 370,000) Canada) production by 12 per cent and industry and our business unit costs by six per cent during • Working in partnership for PERCENTAGE OF DE BEERS’ WORKFORCE REPORTED INDIVIDUAL BENEFICIARIES OF TOTAL SOCIAL the year. In Canada we took the sustainable development THAT IS FEMALE SOCIO-ECONOMIC DEVELOPMENT PROGRAMMES INVESTMENT SPEND difficult decision to put Snap Lake Mine on care and maintenance, while in Botswana, Debswana put Damtshaa Mine on care 24% 47,800 US$28.2m (2014: 24%) (2014: not reported) (2014: US $27.6m 1) FRESH WATER CONSUMPTION ENERGY CONSUMPTION LAND SET ASIDE FOR CONSERVATION (DIRECT AND INDIRECT) Top right: A diamond sorter inspects a rough diamond. Right: A shovel operator at Venetia Mine in South Africa is about to load ore on 170,785 ha to the trucks for delivery to the plant. For every hectare of land disturbed 3 for mining, five are managed for The full, detailed 2015 Report conservation to Society is available 37.9m m 17.2m GJ for download at (2014: 38.2m m3) (2014: 16.2m GJ 1) (2014: 195,128 ha) www.debeersgroup.com/reports 1 Restated from previously reported figures in the 2014 Report to Society.
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