4. Intangible assets
 
Group    2025      2024   
R'000 
Cost 
Accumulated 
amortisation 
and impairment
 
Carrying value  Cost  Accumulated 
amortisation 
and impairment 
Carrying 
value 
Mineral rights  163 006  (146 034) 16 972  163 006  (141 818) 21 188 

Reconciliation of intangible assets: Group – 2025

R'000  Opening 
balance
 
Amortisation  Total 
Mineral rights  21 188  (4 217) 16 972 

Impairment assessment

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. Note 38 further explains management's impairment assessment.

Reconciliation of intangible assets: Group – 2024

R'000  Opening 
balance 
Amortisation  Total 
Mineral rights  25 413  (4 225) 21 188 

Impairment assessment

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, and this is further explained in note 38. 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 no specific asset impairment.