MINING what it will mean though is that from 2017 onward we will see IGO emerge as a truly diversified , mid-tier mining company . “ Gold , nickel and copper are all cyclical commodities . For single commodity companies : it ’ s fun at the top of the market with good operating margins being made but not much fun at the bottom ! At the bottom of the market tough choices have to be made about what costs you continue to wear , and that can result in capability that is needed long term in the business having to be retrenched because you can ’ t fund it at that time . Some discretionary expenditures vital to long term growth , such as exploration , have to be reduced . Our strategy is to be diversified , with a mix of commodities in the portfolio , currently gold and base metals , so the risk to the business due to single commodity fluctuations in any one year is reduced .”
Natural hedging between the metals means IGO is really unlikely to have all of the commodities it produces at the bottom of the market at the same time . In turn that ensures the regular cash flow required to keep capability within the company and to keep the focus on those long term growth projects that he always has his eye on .
People and places Bradford said he also wants IGO to continue to play its part in developing talent for the company and the industry at large . “ We support scholarship programmes for degrees students and we have a programme of vacation work while they are studying to give them access to the industry .” The company also runs a graduate programme , taking people on two year internships and introducing them to varied aspects of the business and aiming to turn out fully functioning professionals .
Close to its operations IGO supports
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