• The capitals
• Connectivity of information
• Strategic focus and future orientation

Key observations:

Anglo American presents a concise overview of the company strategy, including both the company’s short and long term strategic objectives. The company’s overarching ambition of doubling its 2014 operating profit by 2020 is underpinned by three core strategic elements: optimize the portfolio, maximize performance, and create a capable organization.  These strategic elements in turn drive the company’s near term goals.

Additionally, the overall strategy is underpinned by the company’s seven pillars of value.  This elements are broadly consistent with the capitals in the <IR> Framework and are used by the company to assess value creation.  The report assigns an icon to each of these pillars of value and uses them throughout the report to highlight impacts on these value drivers.   

Finally to enhance connectivity, Anglo American has included a linkage between the strategy and executive remuneration (page 13). Within this discussion Anglo American explains which measures are used to determine remuneration, giving the reader a clear understanding of this relationship.  Other key performance indicators used to measure performance in each of the pillars of value are detailed in the table on page 16 and comparative results for 2013 and 2014 are included for each KPI on page 17.