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Addressing the Pay Equity Gap at St Barbara AWRA Webinar – 23 March 2016
Val Madsen, General Manager Human Resources
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Disclaimer
This presentation has been prepared by St Barbara Limited (“Company”). The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation for subscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis of any contract or commitment.
This presentation may contain forward-looking statements that are subject to risk factors associated with exploring for, developing, mining, processing and the sale of gold. Forward-looking statements include those containing such words as anticipate, estimates, forecasts, should, will, expects, plans or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, and which could cause actual results or trends to differ materially from those expressed in this presentation. Actual results may vary from the information in this presentation. The Company does not make, and this presentation should not be relied upon as, any representation or warranty as to the accuracy, or reasonableness, of such statements or assumptions. Investors are cautioned not to place undue reliance on such statements.
This presentation has been prepared by the Company based on information available to it, including information from third parties, and has not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained in this presentation.
The Company estimates its reserves and resources in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2012 Edition (“JORC Code”), which governs such disclosures by companies listed on the Australian Securities Exchange.
Financial figures are in Australian dollars unless otherwise noted. Financial year is 1 July to 30 June.
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Agenda
1. Overview of St Barbara
2. Gender pay gaps
3. Addressing gender pay gaps
4. Employer of Choice for Gender Equality
5. The results
6. Current trends and issues
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Overview of Operations
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Simberi
˃ Open pit mine ˃ Q2 FY16 AISC
A$1,319 /oz ˃ FY15 production
80 koz ˃ FY16F production 100-110 koz ˃ Potential for long
life sulphide mine ˃ Near mine targets
for exploration
Leonora
Simberi
Australia
Leonora
˃ Gwalia underground mine
˃ FY15 AISC A$841/oz ˃ FY15 production
248 koz ˃ FY16F production 245-260 koz
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Leonora Operations – Gwalia Mine
With a current workforce of approx. 475, Gwalia is a world class mine with over 100 years of history
One of the lowest operating cost gold mines in the world
High grade 9.4 g/t Au Ore Reserves1
Deepest underground trucking mine – currently at 1,540 mbs
Estimated mine life based on Ore Reserves1 of ≈7 years and exploring at depth to extend further
Major Mining Contractor – Byrnecut
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1. Refer ASX announcement released 25 August 2015 titled ‘Ore Reserves and Mineral Resources Statements 30 June 2015’
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Simberi Operations
Simberi is a small island in New Ireland Province, northernmost and smallest islands in the Tabar Island Group
The island is 9km long and 7km wide
Open pit mining since February 2008
Simberi has a workforce of approx. 1000 personnel which includes 33 expats
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Pay gap in Australia and the Mining Industry
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National Pay Gap1
17.6% in 2012 25.4% in 2014 24.0% in 2015
Mining Pay Gap1
22.2% in 2012 17.2% in 2014 17.6% in 2015
1 – WGEA statistics reports for 2012-2015
As at May 2015, in Australia the average full-time weekly earning: Men = $1,591.60 Women = $1,307.40 ABS – May 2015 survey of employee earnings
Gender Diversity
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In 2007 the overall organisation pay equity gap at St Barbara was 43%
Currently the overall organisation pay equity gap as at 31 January 2016 is 11.86% and 0% pay gap for like-for-like roles
In 2014, awarded ‘Outstanding Company Initiative’ at Chamber of Minerals and Energy of WA Women in Resources Awards; and
‘Excellence in Diversity Programs and Performance’ in the inaugural Women in Resources National Awards (WIRNA)
Bob Vassie, Managing Director & CEO is one of a number of CEOs appointed an ambassador of the WGEA’s pay equity campaign
Certified by WGEA as An Employer Of Choice For Gender Equality in 2014 and 2015, one of only 3 mining companies and the only gold mining company.
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Why do Gender Pay Gaps Exist?
Women under represented in senior roles
In some industries such as mining, it is dominated by men and women traditionally work in lower paid professions such as administration
The approach and process for how remuneration is set
Discrimination and bias
Women have traditionally been the primary caregiver taking Parental Leave impacting their career progression
Lack of recognition by business leaders of the correlation between diversity and business success
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15.9% 17.4%
25.4%
19.7%
22.6%
17.2%
42.8%
21.3%
7.5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
2007 2011 2014
Seeing the Results: Eliminating the Pay Equity Gap
Australia
Mining
St Barbara
October 2014
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Starting Point
In 2007, St Barbara had: An overall organisation pay equity gap of 43%
No remuneration strategy or policies
19% of women in the workforce
No female representation on the Executive One woman on the Board One female General Manager
5% women in management roles
No gender equality strategy or targets
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Addressing the gender pay gap
First steps Conducted a pay gap analysis (according to WGEA less than one in four
employers do this)
Developed a remuneration strategy to ensure equality in recruitment, promotion and progression
Developed a Diversity Policy and Flexible Working Guideline
Implemented paid Parental Leave and attractive return to work incentives
Developed targets for gender composition and gender pay gap
Monitored, measured and reported progress
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St Barbara’s Gender Equality Targets
2010:
1. Target set to increase the number of women across the Company to 19%, by 31 July 2014. (achieved June 2012)
2. Target set to reduce the Overall organisation pay equity gap to from 35% to 20% by 31 July 2014 (achieved Nov 2011)
3. Increase the percentage of women who return to work after a period of Maternity Leave to at least 66.6%, by 31 July 2014.
4. By 30 June 2012, develop and implement a Talent Taskforce for the purposes of attracting and retaining a talented and diverse workforce. (achieved in 2011)
2012
1. To increase the number of women across the Company to 25% by 30 June 2016.
2. To reduce the overall organisation pay equity gap to 15% by 30 June 2016. (achieved October 2013)
3. To increase the number of women returning from Parental Leave to 67% by 30 June 2014.
4. To increase the number of women on the Board to 25% by 30 June 2016.
As at June, 2015
• Proportion of women across the Company = 24%
• Overall organisation pay equity gap = 13% (it has been as low as 7.54%)
• 30% of leadership roles are held by women
• Parental Leave return = 100%
• Women on the Board = 20%
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Conducting a pay gap analysis
St Barbara conducts monthly analysis and reports monthly to the Executive Leadership Team
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St Barbara compared
St Barbara compared with other similar sized Australian Gold mining companies
St Barbara compared with other reporting companies in Australia (4,670)
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Addressing the gender pay gap
The essentials: Support from the Executive and Board MD & CEO is a WGEA Pay Equity Ambassador Policies (Diversity, Parental Leave, Flexible Working) Gender equality strategy (including targets) Parental Leave provisions including return to work incentives Flexible Work provisions Remuneration strategy
Ongoing initiatives:
Regular pay gap analysis – overall organisation and like-for-like Regular monitoring, measuring and reporting Development for women in leadership
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St Barbara’s Gender Equality Strategy
We define gender equality as:
‘All employees are able to access and experience the same rewards, resources and opportunities’.
Our vision:
‘To be recognised as a leader in gender equality within the mining industry’.
The drivers:
Our workforce diversity drives our business success!
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St Barbara’s Gender Equality Strategy
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Employer of Choice for Gender Equality
In November 2014 and 2015, St Barbara was awarded WGEA Employer of Choice for Gender Equality.
In 2014 , there were 76 organisations awarded the citation In 2015, there were 90 organisations awarded the citation St Barbara is the only Gold Mining organisation to be recognised in 2014
and 2015 and one of only three mining companies Our story
Recognition of the work that had already been implemented Start planning early Build into Gender Equality Strategy Develop an action plan
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Results
WGEA Employer of Choice for Gender Equality
Branding and reputation
Employee engagement
High Performance (diverse teams perform better)
Innovation (incorporating diverse views)
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Taking action
1. Do what you can – don’t wait for it to be easy
2. Embed leadership accountability and ownership
3. Know your data – national, industry and organisation
4. Develop a strategy including targets
5. Get people involved and share results/success
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Issues impacting gender pay gap
Girls not taking STEM subjects (Most of the fastest growing occupations in Australia—some 75% require STEM skills)
Encouraging girls to consider careers in the resources industry – ‘Get into Resources’
Challenge in low numbers of women applying for site FIFO roles
Unconscious bias
Women in leadership – development and opportunities
Quotas?
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Questions?
Gwalia Processing plant Gwalia – Underground mining Truck
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Gwalia – Underground mining Truck
Underground drilling
2016 AWRA Webinar Jan 2016: Shadows silhouetted viewing an ore pass, Gwalia mine.