2016 | 2015 | ||
R’000 | R’000 | ||
20 |
CONTINGENT LIABILITIES |
||
Guarantee of US dollar 100 million issued to bankers as security for facilities provided to a foreign subsidiary company | 1 486 230 | 1 227 160 | |
Maximum amount in addition to the R450 million in restricted cash payable for the acquisition of the Dwarsrivier Chrome Mine (Dwarsrivier) (refer note 5) | 55 313 | 800 000 | |
In terms of the agreement with ARM to acquire its 50% of Dwarsrivier, Assore has agreed to refund Assmang for Dwarsrivier’s capital expenditure and working capital requirements, effective from 1 July 2014. This amount will be decreased by the profits after taxation (increased for losses after taxation) recorded by Dwarsrivier until the necessary conditions precedent are met in order for the transaction to be completed (refer
note 22). The company holds a |