| 11. | Trade and other receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade receivables are net of a R79 million (2024: R42 million) commodities weight loss allowance. The commodity weight loss allowance is estimated using an estimated percentage of allowance per category of goods sold and by reference to past exposure experience. Trade receivables relating to local and foreign sales have an average payment term of between 30 and 120 days and are non-interest-bearing. The Group’s exposure to credit and currency risks related to trade and other receivables are disclosed in note 28. No ECLs have been incurred and provided for. Refer to note 1.17 Impairment of assets, for further information regarding the accounting policy for ECL on trade receivables. R110 million (2024: R73 million) of trade receivables subjected to provisional pricing terms are accounted for at fair value through profit and loss—level 2 hierarchy per IFRS 13: Fair Value Measurement. The fair value at the reporting date is based on the latest available ferrochrome prices and a closing foreign exchange rate of R16.56 (2024: R18.89). The non-cash movement of the fair value adjustments of R57 million (2024: R13 million) is related to trade receivables carried at fair value that have been treated as a non-cash flow in the statement of cash flows. Refer to note 27. Refer to note 33 for other trade receivables from related parties.
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