HomeGroup profileHighlightsCorporate informationGroup structure of operating companies Group at a glanceBoard of directorsChairman's review Review of operations Ore reserves and mineral resources Corporate governance reportBlack economic empowerment Sustainabiliy report Five-year summary >> Consolidated financial statements >> Company financial statements Notice to membersForm of proxy

You are currently viewing » Consolidated financial statements » Notes to the consolidated financial statements

Notes to the consolidated financial statements for the year ended 30 June 2009

Notes 1. ACCOUNTING POLICIES 2. PROPERTY, PLANT AND EQUIPMENT 3. INVESTMENT PROPERTIES 4. INTANGIBLE ASSETS 5. INVESTMENTS 6. INVENTORIES 7. TRADE AND OTHER RECEIVABLES 8. SHARE CAPITAL 9. SHARE PREMIUM 10. TREASURY SHARES  11. OTHER RESERVES  12. LONG-TERM BORROWINGS 13. DEFERRED TAXATION 14. LONG-TERM PROVISIONS 15. TRADE AND OTHER PAYABLES  16. SHORT-TERM PROVISIONS  17. SHORT-TERM BORROWINGS AND OVERDRAFTS 18. REVENUE  19. FINANCE COSTS  20. PROFIT BEFORE TAXATION AND STATE'S SHARE OF PROFITS 21. TAXATION AND STATE'S SHARE OF PROFITS 22. EARNINGS AND HEADLINE EARNINGS PER SHARE 23. DIVIDENDS  24. NOTES TO THE CASH FLOW STATEMENT  25. FINANCIAL RISK MANAGEMENT 26. CAPITAL MANAGEMENT 27. COMMITMENTS/option> 28. CONTINGENT LIABILITIES 29. INVESTMENT IN JOINT-VENTURE ENTITY 30. SEGMENTAL INFORMATION 31. RELATED PARTY TRANSACTIONS 32. RETIREMENT BENEFIT INFORMATION 33. COMPARATIVE INFORMATION

2009     2008           R’000     R’000   14.   LONG-TERM PROVISIONS                 Environmental obligations                 Provision against cost of decommissioning assets      119 366     101 895      Balance at beginning of year      101 895     50 170      Provisions raised during the year      12 934     50 004      Provision discount adjustment      4 537     1 721      Provision for cost of environmental rehabilitation      61 161     39 373      Balance at beginning of year      39 373     23 489      Provisions raised during the year      21 327     15 120      Payments made for restoration      (411)    –      Provision discount adjustment      872     764                      Balance at end of year      180 527     141 268      Post-retirement healthcare benefits (refer to note 32.2)               Balance at beginning of year      9 260     8 084      Increase in benefits payable      1 388     1 176      Balance at end of year      10 648     9 260      Deferred bonus scheme                 Provision raised during the year and balance at end of year      14 782     –           205 957     150 528      Environmental obligations before funding (as above)    180 527     141 268      Less: cash deposits held by environmental trusts (per balance sheet)    47 739     36 942      Obligation provided for on the balance sheet, but not yet funded      132 788     104 326     The inflation rates applied to estimated costs used in the discounted cash flow calculation to determine the provision for environmental rehabilitation vary between 6% and 10,5%, (2008: 11,0%) and the nominal discount applied is 8,5% (2008: 9,0%)