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 |