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The following table lists the associate of the Group. The investment in associate, being Impala Chrome (Pty) Ltd (Impala Chrome), is as a result of the acquisition of the 20.5% interest in Unicorn Chrome which has been proportionately consolidated in the consolidated financial statements. Unicorn Chrome is jointly controlled by the Group and GOSA. Unicorn Chrome holds the 31.15% investment in Impala Chrome. The Group's effective shareholding in Impala Chrome equates to 20.5% of 31.15%.
| Group |
|
|
|
|
|
| Name of company |
Method |
% effective
ownership
interest 2022 |
% effective
ownership
interest
2021 |
Carrying
amount 2022
R'000 |
Carrying
amount 2021
R'000 |
| Impala Chrome (Pty) Ltd |
Equity accounting |
6.39 |
6.39 |
6,709 |
2,765 |
The principal place of business of Impala Chrome is the North West province.
Summarised financial information of material associates
| Summarised Statement of Profit or Loss and Other Comprehensive Income |
Impala Chrome |
| |
2022 |
2021 |
| Revenue |
481,095 |
318,009 |
| Other income and expenses |
(397,748) |
(302,539) |
| Profit before tax |
83,347 |
15,470 |
| Tax expense |
(21,596) |
(5,854) |
| Profit |
61,751 |
9,616 |
| Total comprehensive income |
61,751 |
9,616 |
|
Summarised Statement of Financial Position |
Impala Chrome |
| |
2022 |
2021 |
| Assets |
|
|
| Non-current |
52,914 |
66,758 |
| Current |
244,810 |
110,767 |
| Total assets |
297,724 |
177,525 |
| Liabilities |
|
|
| Non-current |
63,379 |
58,364 |
| Current |
98,970 |
45,540 |
| Total liabilities |
162,349 |
103,904 |
| |
|
|
| Total net assets |
135,375 |
73,621 |
| Reconciliation between the associate's summarised financial information and the carrying amount of the associate |
|
|
| Associate closing net assets (equity) |
135,375 |
73,621 |
| Group's share in % |
6.39 % |
6.39 % |
| Group's share in net assets |
8,645 |
4,701 |
| Other adjustments |
(1,936) |
(1,936) |
| Carrying amount in Group |
6,709 |
2,765 |
| Reconciliation of the carrying value of investment in associate |
|
|
| Investment at beginning of period |
2,765 |
2,151 |
| Share of earnings of associate |
3,944 |
614 |
| Investment at end of the year |
6,709 |
2,765 |
Associates with different reporting dates
The end of the reporting year of Impala Chrome is 30 June. The financial information used in the consolidation results is as at
31 December 2022. In reporting the financial information for the associate, information from 1 January 2022 to 31 December 2022 has been reported, using management accounts.
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