| Group |
|
2025 |
|
|
2024 |
|
| R'000 |
Cost |
Accumulated
depreciation
and impairme |
Carrying
value |
Cost |
Accumulated
depreciation
and impairment |
Carrying
value |
| Beneficiation assets |
|
|
|
|
|
|
| Smelters |
4 120 594 |
(3 817 609) |
302 985 |
4 131 294 |
(3 801 753) |
329 541 |
| Pelletising plants |
444 610 |
(430 125) |
14 485 |
431 124 |
(380 453) |
50 671 |
| Right-of-use assets |
31 674 |
(29 022) |
2 652 |
31 674 |
(28 606) |
3 068 |
| Corporate assets |
4 815 |
(3 821) |
994 |
4 611 |
(4 036) |
575 |
| Mining assets |
|
|
|
|
|
|
| Mines |
1 708 737 |
(1 135 428) |
573 309 |
1 626 912 |
(1 102 607) |
524 305 |
| PGMs processing plants |
285 754 |
(32 259) |
253 495 |
234 719 |
(17 966) |
216 753 |
| |
6 596 184 |
(5 448 264) |
1 147 920 |
6 460 334 |
(5 335 421) |
1 124 913 |
| |
|
|
|
|
|
|
| Company |
|
2025 |
|
|
2024 |
|
| R'000 |
Cost |
Accumulated
depreciation |
Carrying
value |
Cost |
Accumulated
depreciation |
Carrying
value |
| Corporate assets |
2 365 |
(1 371) |
994 |
2 286 |
(1 711) |
575 |
| R'000 |
Opening
balance |
Additions |
Rehabilitation
provision |
Disposal
accumulated
depreciation |
Disposals |
Movement
in capital
work in
progress |
Depreciation |
Impairment |
Total |
| Beneficiation |
|
|
|
|
|
|
|
|
|
| assets |
|
|
|
|
|
|
|
|
|
| Smelters |
329 541 |
223 194 |
(3 710) |
230 184 |
(230 184) |
7 953 |
(87 436) |
(166 557) |
302 985 |
| Pelletising plants |
50 671 |
23 069 |
– |
8 623 |
(8 623) |
1 908 |
(5 434) |
(55 728) |
14 485 |
| Right-of-use assets |
3 068 |
– |
– |
– |
– |
– |
(416) |
– |
2 652 |
| Corporate assets |
575 |
757 |
– |
361 |
(553) |
– |
(146) |
– |
994 |
| Mining assets |
|
|
|
|
|
|
|
|
|
| Mines |
524 305 |
139 164 |
(754) |
56 585 |
(56 585) |
– |
(89 406) |
– |
573 309 |
| PGMs processing plants |
216 753 |
51 035 |
|
– |
– |
– |
(14 293) |
– |
253 495 |
| |
1 124 913 |
437 219 |
(4 464) |
295 753 |
(295 945) |
9 861 |
(197 131) |
(222 285) |
1 147 920 |
As mandated by IAS 36, management performed an impairment assessment on the basis set out in notes 1.17 and 38.
Significant judgement and estimates were made in determining the value-in-use calculation. The recoverable amount
was determined using the value-in-use calculation via a discounted cash flow model. Based on the results of the
assessment, no CGU impairment adjustment was recognised for the current reporting period. There were impairment
adjustments that were made relating to these specific assets that were fully written off: the Tswelopele and Bokamoso
pelletising plants and the Wonderkop smelter. This brings the total impairment loss for the year to R222 million. Note 38
further explains management's impairment assessment.
R201 million depreciation and amortisation is recognised in the statement of profit or loss and other comprehensive
income, which comprises R197 million resulting from property, plant and equipment and R4 million of amortisation
resulting from intangible assets.
| R'000 |
Opening
balance |
Additions |
Rehabili-
tation
provision |
Disposals |
Disposal
accumu-
lated depre-
ciation |
Movement
in capital
work in
progress |
Depre-
ciation |
Impairment |
Total |
| Beneficiation |
|
|
|
|
|
|
|
|
|
| assets |
|
|
|
|
|
|
|
|
|
| Smelters |
830 841 |
457 738 |
(626) |
(217 893) |
217 893 |
(141 270) |
(241 713) |
(575 429) |
329 541 |
| Pelletising plants |
57 355 |
28 299 |
586 |
(10 267) |
10 267 |
(10 016) |
(25 553) |
– |
50 671 |
| Right-of-use assets |
4 026 |
– |
– |
|
– |
– |
(958) |
– |
3 068 |
| Corporate assets |
194 |
507 |
– |
(6) |
6 |
– |
(126) |
– |
575 |
| Mining assets |
|
|
|
|
|
|
|
– |
|
| Mines |
363 046 |
255 756 |
(614) |
(36 859) |
32 254 |
(14 755) |
(74 523) |
– |
524 305 |
| PGMs processing plants |
132 252 |
168 556 |
312 |
– |
– |
(77 055) |
(7 312) |
– |
216 753 |
| |
1 387 714 |
910 856 |
(342) |
(265 025) |
260 420 |
(243 096) |
(350 185) |
(575 429) |
1 124 913 |
As mandated by IAS 36, management performed an impairment assessment on the basis set out in notes 1.17 and 38.
Significant judgement and estimates were made in determining the value-in-use calculation. The recoverable amount
was determined using the value-in-use calculation via a discounted cash flow model. Based on the results of the
assessment, no CGU impairment adjustment was recognised for the current reporting period. There was an impairment
of the Boshoek smelter by R574 million, in addition to the impairment of another specific asset by R1 million. This brings
the total impairment loss for the year to R575 million. Note 38 further explains management's impairment assessment.
R354 million depreciation and amortisation is recognised in the statement of profit or loss and other comprehensive
income, which comprises R350 million resulting from property, plant and equipment and R4 million of amortisation
resulting from intangible assets.
| R'000 |
Opening balance |
Additions |
Disposal |
Depreciation |
Total |
| Corporate assets |
575 |
757 |
(192) |
(146) |
994 |
| R'000 |
Opening balance |
Additions |
Depreciation |
Total |
| Corporate assets |
359 |
342 |
(126) |
575 |
| |
Group |
Company |
| R'000 |
2025 |
2024 |
2025 |
2024 |
| Amounts recognised in the statement of cash flows |
|
|
|
|
| Additions |
437 219 |
910 856 |
757 |
342 |
| Acquisition of PGM X |
– |
– |
– |
– |
| Movement in capital work in progress |
9 861 |
(243 096) |
– |
– |
| Assets disposed at carrying value |
(192) |
(4 605) |
– |
– |
| Disposal of asset for held for sale |
– |
(963) |
– |
– |
| Other movements |
(370) |
– |
– |
– |
| Acquisition of property, plant and equipment |
446 518 |
662 192 |
757 |
342 |
|
