2015  2014 
    R’000  R’000 

20

OVERDRAFTS

   
  Owing at end of year 960 866  538 588 
 
Foreign subsidiary, Minerais U.S. LLC, maintains a US dollar denominated overdraft facility with a bank which provides it with the ability to borrow up to an aggregate of US dollar 100 million (2014: US dollar 70 million) to finance its inventory and receivables. The facility is available on demand and has no expiry date. Interest on the facility accrues at a variable rate of 0,75% (2014: 0,75%) above LIBOR which at year-end was 0,1100% (2014: 0,1000%). Overdraft borrowings mature daily and are guaranteed by the holding company.