Neal Froneman: Yes, thanks Arnold. And that’s a good question. And it’s really a question that is best answered through the strategy that we’re pursuing. And remember, we have been pivoting into a producer of green metals, which we’ve done off a substantial base of PGMs. But the combination of PGMs and let’s call it other green metals, which in this case, we have direct investments in nickel and lithium, some in copper now are all part of that pivot. Now again you got to go back to strategically what is the purpose? Well, the purpose of our business is to safeguard global sustainability through our metals. And I dare say that, that is playing out very well for us. So it doesn’t mean it’s easy. And as you quite rightly point out in economic downturns, it becomes more challenging.
But having a purpose like that, having the base of metals that we have and being able to expand into the ecosystems that we identified early on are proving very actually helpful and constructive. Our relationship in both the European Union, and the U.S. is at the highest levels and we get good advocacy both from the U.S. and the EU. And we certainly are seen as part of the solution. That doesn’t help the pivot or your specific concern. But if you believe in your strategy, you continue with it, but you cut your cloth to suit, which is exactly what we’ve been doing. And yes, there might be some smaller assets, but they are smaller assets, that are building blocks in terms of growing let’s call it that portfolio. But also, as the operating legs, primary mining, which is normally of very significant scale.
So that’s hard rock underground, and open pit mining. The secondary mining is a business where you might say we have some small challenging operations, but they are again building blocks of expanding the tail. We’re not the only ones doing that. I think you’ve seen both Glencore and Rio start moving into that environment and where we are probably together with some other major mining houses at the leading edges on the recycling or the urban mining. And that’s off the base of AutoCAD recycling and building the urban mining recycling, the lake. And that we are — that we’re able to do in small byte sized chunks. And it’s the strategy, and the strategy remains very much intact and very much informed by the external environment and the gray elephants that we refer to.
Now in terms of being unwieldy, I think the new structure that we implemented about two years back and regionalized the business has worked very well. And certainly, I think internally, we don’t find it unwieldy. I think you should have seen today we have Chief Regional Officers that are totally on top of their regions and their assets. So I think from a group perspective, again it’s really, but we are a modern mining company. We are not going to be kind of dinosaurs in the mining industry and revert back to what is traditional. The world is changing and we’re changing with but it’s being managed and it has been well thought through from a strategic perspective.
James Wellsted: Thanks, Neal. Listen, we’re pushing over time. So I think — assets given the current boom in the prices. So maybe if you’ve got a final comment on that, and then I think we’ll have to close.
Neal Froneman: And much more other than uranium is something that, I certainly understand well and in fact, a lot of my team was part of the Uranium 1 experience. So we’ve got the knowledge. We like uranium. We’ve consciously held uranium assets. We have been in the background working on what is the best way to realize value portfolio. But under these circumstances, it is most likely going to be brought to account utilizing more appropriate structures and certainly not our balance sheet. We’re in a very good position with uranium production available in the short-term and relatively quickly and it’s not complex compared to many other projects in the rest of the world. So I can really only summarize and repeat, James what we’ve been said.
There’s a lot of hype and be careful of hype in the uranium market. It’s a bubble, that can burst, but I would suggest that there’s more solid fundamentals underpinning the uranium market at this stage, but these things can turn very quickly. So I’ll leave it at that. Thanks, James.
James Wellsted: Thank you. And, if there are any more questions, please, direct them to the investor relations team by email, and we’ll follow-up online. Thank you very much for attending the presentation today, and have a good evening and a good day.
