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Borax has been profitable for more than a century. Our financial strength
gives us the means to invest in people and technology that, in turn, give
us the means to lower our environmental impact, invent new and useful applications
for borates, and continue our practice of giving back to local communities.
In 2003, sluggish global economies and a weak US dollar made for a
challenging business environment. Borax achieved a six percent increase
in production through efficiency breakthroughs and new capacity at its
Borax Argentina boric acid plant. We also increased sales by four percent
through growth in North American and Asian markets, and favorable exchange
rates in Europe. In contrast, our cost base increased to accommodate
higher natural gas and diesel prices, as well as rising employee benefit
costs in California. All told, Rio
Tinto reported an eight percent drop
in Borax's earnings in 2003. For more information on economic indicators
please see Rio Tinto’s 2003 Annual
Report.
Borax's fourth sustainable development objective is to optimize our
economic contribution to society. As a privately-held company operating
in a fiercely competitive market, we do not publish specific details
of our economic performance. Instead, we measure our contribution according
to our profitability, sales, productivity, and investment in communities
- and report our performance and targets using comparative indices rather
than dollar amounts.
Business Performance -
Rio Tinto's adjusted earnings declined ten percent in 2003, but its
stock has consistently been a strong performer...
Employee Productivity -
To evaluate how maintaining a well-trained, well-paid workforce contributes
to society, Borax measures productivity per employee
Value Creation - Borax measures
the value it creates through new borate technologies and markets...
Community Contributions -
We are proud to contribute one percent of our pre-tax profits to support
programs that sustain communities surrounding our operations...
Business Benefits - Borax's
contribution to sustainable development makes us a reliable business
partner...
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Case Studies
Boron Community Needs Assessment
Program to base charitable donations on issues the community identifies
as important, create coalitions of problem-solvers
Business Improvement
Creativity and consistency drive business improvement at Borax
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