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SEGMENTAL INFORMATION
  The following segments are separately monitored by management and form the group’s reportable segments:

Joint venture mining and beneficiation
Assore’s principal investment is its 50% share in Assmang.

Assmang’s operations are managed by commodity mined and, where applicable, beneficiated at various works operations. Accordingly, this segment is further analysed as follows:
  • Iron ore (Iron ore division);
  • Manganese ore and alloys (Manganese division); and
  • Chrome ore (Chrome division).
For purposes of presenting segmental information, disclosure is made of the entire value of the information pertaining to Assmang, with the portion attributable to the other joint venture partner (50%) deducted as part of the consolidation adjustments.

Marketing, shipping and other services
In terms of the joint venture arrangement with Assmang, Assore and certain of its subsidiary companies are responsible for the marketing and shipping of Assmang’s product. In addition, another subsidiary provides consulting and engineering expertise to Assmang and other group companies.

Other mining and beneficiation
This segment contains the chrome operations managed by Rustenburg Minerals and Zeerust, as well as the pyrophyllite and ceramic operations managed by Wonderstone.
 

 
              Other Adjust-  
            Marketing, mining ments Total
    Joint venture mining and beneficiation   shipping and arising on attributable
    Iron ore Manganese Chrome   and other benefi- con- to Assore
  R’000  division division division Sub-total services ciation solidation group
 

Year to 30 June 2015 

                
  Revenues                
  Third party 12 622 422  7 152 284  1 798 712  21 573 418  3 007 156  350 141  (21 573 418) 3 357 297 
  Inter-segment –  –  –  –  5 101  –  (5 101)  
  Total revenues 12 622 422  7 152 284  1 798 712  21 573 418  3 012 257  350 161  (21 578 539) 3 357 297 
  Contribution to profit/(loss) 2 381 257  94 165  183 802  2 659 224  197 485  (222 986) (2 659 224) (25 501)
  Contribution to headline earnings 2 495 430  577 496  183 802  3 256 728  290 436  57 551  (1 628 364) 1 976 351 
  Impairment of financial and non-financial assets (147 114) (665 262) –  (812 376) (114 258) (365 073) 406 188  (885 519)
                   
  Statement of financial position                
  Consolidated total assets 25 563 489  11 274 011  1 344 122  38 181 622  4 806 946  384 887  (23 844 294) 19 529 161 
                   
  Other information                
  Finance income 411 967  9 696  1 461  423 124  155 342  2 916  (423 124) 158 258 
  Finance costs 27 453  27 703  2 375  57 531  28 832  4 559  (57 531) 33 391 
  Depreciation and amortisation 1 421 457  421 506  91 414  1 934 377  16 683  17 603  (1 934 377) 34 286 
  Impairment charges 147 114  665 262  –  812 376  114 258  365 073  (406 188) 885 519 
  Taxation 939 881  27 503  79 298  1 046 682  135 737  (33 444) (1 046 682) 102 293 
  Capital expenditure 6 116 917  2 371 568  763 440  9 251 925  7 919  83 245  (9 251 925) 91 164 
                   
              Other Adjust-  
            Marketing, mining ments Total
    Joint venture mining and beneficiation   shipping and and arising on attributable
    Iron ore Manganese Chrome   other benefi- con- to
  R’000  division division division Sub-total services ciation solidation Assore group
 

Year to 30 June 2014 

                
  Revenues                
  Third party 18 101 329  8 309 121  1 609 868  28 020 318  2 541 872  352 724  (28 020 318) 2 894 596 
  Inter-segment –  –  –  –  6 479  –  (6 479) – 
  Total revenues 18 101 329  8 309 121  1 609 868  28 020 318  2 548 351  352 724  (28 026 797) 2 894 596 
  Contribution to profit 6 357 416  684 025  127 817  7 169 258  504 298  (46 731) (7 169 258) 457 567 
  Contribution to headline earnings 6 356 772  1 058 543  127 817  7 543 132  504 915  (30 570) (3 787 587) 4 229 890 
  Impairment of financial and non-financial assets –  (519 880) –  (519 880) (26 327) (16 982) 259 940  (303 249)*
                   
  Statement of financial position                
  Consolidated total assets 26 145 486  11 246 592  1 027 161  38 419 239  3 614 501  574 976  (23 651 070) 18 957 646 
                   
 

Other information

                
  Finance income 427 905  14 538  2 055  444 498  108 963  3 823  (444 498) 112 786 
  Finance costs 21 304  30 028  2 352  53 684  57 678  3 474  (53 684) 61 152 
  Depreciation and amortisation 1 295 835  454 281  75 668  1 825 784  16 863  17 603  (1 825 784) 34 466 
  Impairment charges –  519 880  –  519 880  –  16 982  (519 880) 16 982 
  Taxation 2 382 811  307 279  32 665  2 722 755  202 382  38 104  (2 722 755) 240 486 
  Capital expenditure 2 058 487  1 340 617  244 039  3 643 143  17 513  76 157  (3 643 143) 93 670 
  * Impairment per segment has been disclosed separately in the current year, comparatives have been included accordingly.
                   
  Geographical information
  Geographical segment by location of customers
 

An analysis of the geographical locations to which product is supplied is set out below:
               
    2015  2014 
    Assmang  Subsidiaries    Assmang  Subsidiaries   
    revenue  revenue    revenue  revenue   
    by segment  by segment  Total  by segment  by segment  Total 
    R’000  R’000  R’000  R’000  R’000  R’000 
 

Customers by locations

            
  Far East 11 467 272  10 744  11 478 016  19 925 709  13 830  19 939 539 
  Europe 3 635 509  3 889  3 639 398  2 648 530  4 700  2 653 230 
  USA 1 086 620  2 232 641  3 319 261  1 294 510  1 487 697  2 782 207 
  South Africa 3 386 259  1 109 557  4 043 876  822 877  1 387 419  2 210 296 
  Other – foreign 1 997 758  466  1 998 244  3 328 692  950  3 329 642 
  Total 21 573 418  3 357 297  24 478 795  28 020 318  2 894 596  30 914 914 
 
Notes:
1. There are no customers whose off-take represents more than 10% of revenue (one customer in 2014: R2,8 billion).
2. The revenue of Assmang (refer note 1) is excluded from the group’s reported revenue, in terms of the application of IFRS 11.