The investment in the associate, Impala Chrome Proprietary Limited (Impala Chrome), is 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
2024
|
% effective
ownership
interest
2023
|
Carrying
amount
2024
R’000 |
Carrying
amount
2023
R’000 |
| Impala Chrome |
Equity accounting |
6.39 |
6.39 |
32 676 |
14 150 |
The principal place of business of Impala Chrome is the North West province.
Summarised financial information of material associate
Summarised statement of profit or loss and other comprehensive income
|
|
|
Impala Chrome |
| R'000 |
2024 |
2023 |
| Revenue |
962 578 |
892 823 |
| Other income and expenses |
(526 448) |
(483 680) |
| Profit before tax |
436 130 |
409 143 |
| Tax expense |
(121 035) |
(110 310) |
| Profit after tax |
315 095 |
298 833 |
| Total comprehensive income for the year |
315 095 |
298 833 |
Summarised statement of financial position
|
|
| |
|
| |
|
| Impala Chrome |
| R'000 |
2024 |
2023 |
| Assets |
| |
| Non-current |
36 094 |
46 414 |
| Current |
680 514 |
453 039 |
| Total assets |
716 608 |
499 453 |
| Liabilities |
| |
| Non-current |
31 261 |
37 808 |
| Current |
143 336 |
209 735 |
| Total liabilities |
174 597 |
247 543 |
| Total net assets |
542 011 |
251 910 |
|
|
| |
| Reconciliation between the associate's summarised financial information and the carrying amount of the associate |
| |
| Associate closing net assets (equity) |
542 011 |
251 910 |
| Group's share in % |
6.39 |
6.39 |
| Group's share in net assets |
34 612 |
16 086 |
| Other adjustments |
(1 936) |
(1 936) |
| Carrying amount in Group |
32 676 |
14 150 |
| Reconciliation of the carrying value of investment in associate |
| |
| Investment at the beginning of the period |
14 150 |
6 709 |
| Dividends received |
(1 596) |
(11 642) |
| Share of earnings of the associate |
20 122 |
19 083 |
| Investment at the end of the year |
32 676 |
14 150 |
Associate with different reporting dates
The end of the reporting year of Impala Chrome is 30 June. The financial information used in the consolidation of the results is as at 31 December 2024. In reporting the financial information for the associate, information from
1 January 2024 to 31 December 2024 has been reported using management accounts. |
