Notes to the Consolidated And Separate Annual Financial Statements | Note 39

39. Non-current asset held for sale
 
    Group Company
    2022 
R'000 		 2021 
R'000 		 2022 
R'000 		 2021 
R'000 
Land and mineral rights held for sale and previously included in property, plant and equipment  963  —  —  — 
Liabilities directly associated with the assets held for sale  (24,261) —  —  — 
   23,298) —  —  — 

On 16 August 2022, the Group decided to dispose of the mineral rights and land that form part of Boshoek Mine. The liability directly associated with the asset held for sale is the environmental rehabilitation obligation. The Group considered that the sale of Boshoek mine meets the criteria to be classified as held for sale at 31 December 2022, for the following reasons:

  • The Group has obtained the required internal approvals for the sale;
  • The Group's mine is available for immediate sale and a buyer has been identified and sale agreement concluded; and
  • The actions required for the fulfillment of the suspensive conditions are expected to be completed within 12 months of classification as held for sale.

As the transaction is expected to be effective within the next 12 months, Boshoek mine was classified as held for sale on 16 August 2022.

No impairment loss has been recognised as the mineral right and land have been measured at their carrying amount.