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2016 Annual Results

We work with the aim of being an efficient miner of iron ore

Corporate governance

Kumba's approach to corporate governance

The Kumba board of directors understands the responsibility it has to lead the company effectively, ethically and transparently, and focuses on steering the company in the right direction through a combination of strategy, effective leadership and sound corporate governance. Our board of directors remains committed to adhering to the highest standards of corporate governance, including King III, the Companies Act, the JSE Listings Requirements and other applicable regulations. However, governance at Kumba is about more than compliance.

In 2013 Kumba completed the implementation of the framework, processes and controls needed for full compliance with the recommendations in Chapters 1 and 6 of King III. The programme was developed and partially completed in 2011 and 2012, and embraced the management of ethics as well as legislative and regulatory compliance. The board is confident that the Anglo American Group Business Integrity Policy and Performance Standards endorsed by Kumba are sufficiently robust to sustain our ethical principles and that adequate processes are built into the assurance system to manage and ensure group-wide compliance with these principles. The board is satisfied that the group complies fully with the principles and recommendations of King III. The company utilises the governance assessment instrument developed by the Institute of Directors in Southern Africa (IoDSA) to assess its application of the King III principles and a detailed report on the status of application is available on the following link:

King III Governance Register

Further information on Kumba’s approach to corporate governance is included in its Integrated Report 2015 on the following link:

Kumba's approach corporate governance

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Kumba Iron Ore