Accumulated | Accumulated | ||||||||
depreciation | depreciation | ||||||||
and | and | ||||||||
impairment | Carrying | impairment | Carrying | ||||||
Cost | charges | amount | Cost | charges | amount | ||||
2015 | 2015 | 2015 | 2014 | 2014 | 2014 | ||||
R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | ||||
2 |
PROPERTY, PLANT AND EQUIPMENT |
||||||||
At |
|||||||||
Land and buildings | 150 579 | (33 041) | 117 538 | 148 006 | (31 442) | 116 564 | |||
Plant, machinery and equipment | 316 606 | (263 532) | 53 074 | 317 636 | (166 135) | 151 501 | |||
Vehicles | 33 235 | (21 005) | 12 230 | 30 120 | (19 017) | 11 103 | |||
Furniture, fittings and office equipment# | 97 709 | (84 333) | 13 376 | 93 671 | (68 190) | 25 481 | |||
Prospecting, exploration, mine development and decommissioning assets | 304 373 | (302 693) | 1 680 | 145 863 | (17 714) | 128 149 | |||
Mineral and prospecting rights | 3 037 | (3 037) | | 3 037 | (1 140) | 1 897 | |||
Capital |
32 444 | | 32 444 | 91 154 | |
91 154 | |||
937 983 | (707 641) | 230 342 | 829 487 | (303 638) | 525 849 | ||||
Current | |||||||||
depreciation | |||||||||
Opening | and | Closing | |||||||
carrying | Reclassi- | impairment | carrying | ||||||
amount | Acquisitions | Disposals | fications | charges | amount | ||||
R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | ||||
Movement for the year – 2015 | |||||||||
Land and buildings | 116 564 | 1 650 | (816) | 1 739 | (1 599) | 117 538 | |||
Plant, machinery and equipment | 151 501 | 3 177 | (417) | (3 790) | (97 397) | 53 074 | |||
Vehicles | 11 103 | 1 588 | (146) | 1 673 | (1 988) | 12 230 | |||
Furniture, fittings and office equipment | 25 481 | 1 972 | (85) | 2 151 | (16 143) | 13 376 | |||
Prospecting, exploration, mine development and decommissioning assets | 128 149 | 76 081 | (4 597) | 87 026 | (284 979) | 1 680 | |||
Mineral and prospecting rights | 1 897 | | | | (1 897) | | |||
Capital work in progress | 91 154 | 30 089 | | (88 799) |
|
32 444 | |||
525 849 | 114 557 | (6 061) |
| (404 003) |
230 342 | ||||
|
|||||||||
Current | |||||||||
depreciation | |||||||||
Opening | and | Closing | |||||||
carrying | Reclassi- | impairment | carrying | ||||||
amount | Acquisitions | Disposals | fications | charges | amount | ||||
R’000 | R’000 | R’000 | R’000 | R’000 | R’000 | ||||
Movement for the year – 2014 | |||||||||
Land and buildings | 115 190 | 5 463 | | | (4 089) | 116 564 | |||
Plant, machinery and equipment | 170 822 | | | 4 | (19 325) | 151 501 | |||
Vehicles | 9 635 | 2 384 | (70) | | (846) | 11 103 | |||
Furniture, fittings and office equipment# | 40 011 | 6 838 | (538) | (4) | (20 826) | 25 481 | |||
Prospecting, exploration, mine development and decommissioning assets | 51 562 | 78 985 | | 3 714 | (6 112) | 128 149 | |||
Mineral and prospecting rights | 1 967 | | | | (70) | 1 897 | |||
Capital work in progress | 94 868 | | | (3 714) | | 91 154 | |||
484 055 | 93 670 | (608) | | (51 268) | 525 849 | ||||
|
|||||||||
2015 | 2014 | ||||||||
R’000 | R’000 | ||||||||
Impairment of assets | |||||||||
Management has determined that in the current and expected market conditions, the continued development of the underground shafts and related infrastructure at Rustenburg Minerals will not result in a sustainable and profitable operation. Accordingly, the project has been suspended indefinitely and the cost of the recoverable amounts of the development of the shafts and related capitalised assets have been impaired in full as the |
|||||||||
The impairment charge has been recorded against the following categories of property, plant and equipment: | |||||||||
– land and buildings | 283 | | |||||||
– plant, machinery and equipment | 86 558 | | |||||||
– prospecting, exploration, mine development and decommissioning assets | 276 335 | | |||||||
– mineral and prospecting rights | 1 897 | | |||||||
Per note 23 | 365 073 | | |||||||
Management’s previous estimate of economically extractable chrome concentrate from “tailings” material at Zeerust was reassessed and it became evident that the material cannot be processed economically. Accordingly, the assets were impaired, since the |
| 16 982 | |||||||