| |
|
2007
Rm |
|
2006
Rm |
|
|
Rm |
|
Rm |
| 22. |
Accounts receivable |
|
|
|
|
Trade accounts receivable |
3,107 |
|
2,871 |
|
Other receivables |
1,139 |
|
1,734 |
| |
|
4,246 |
|
4,605 |
|
Analysis of amounts past due but not impaired |
|
|
|
|
The following provides an analysis of the amounts and number of days that trade |
|
|
|
|
debtors are past due their contractual maturity dates: |
|
|
|
|
Less than 30 days |
15 |
|
163 |
|
Between 31 – 60 days |
18 |
|
55 |
|
Between 60 – 90 days |
8 |
|
— |
|
Greater than 90 days |
18 |
|
— |
| |
|
59 |
|
218 |
| |
The average credit period on the sale of precious metals is 8 to 9 days and base
metals is 30 days. Interest is charged at market-related rates on the outstanding
balance. No provision for doubtful debts has been raised on any amounts past due
at balance sheet date as these amounts have either been received post year end or
the amounts are still considered recoverable.
Before accepting any new customers, the Group uses a credit bureau or performs
a credit assessment to assess the potential customer's credit quality and credit limits.
The credit limits are reviewed on a regular basis throughout the year due to the
volatility in the commodity price movements which necessitates the frequent review
of credit limits. Trade accounts receivable involve a small group of international
companies. The financial condition of these companies and the countries in which
they operate are regularly reviewed. Therefore the Group has no provision for
doubtful debts.
The fair value of accounts receivable is not materially different from the carrying
values presented. There are no trade receivables pledged as security to secure any
borrowings of the Group. |
|
|
|
| 23. |
Other assets |
|
|
|
|
Prepayments |
99 |
|
111 |
| |
Other |
31 |
|
30 |
|
|
130 |
|
141 |
|
Short-term portion of prepaid leases and other receivables (Note 20) |
4 |
|
137 |
| |
|
134 |
|
278 |
| 24. |
Derivative financial assets |
|
|
|
|
Financial liabilities carried at fair value |
|
|
|
| |
Fair value of forward foreign exchange contracts |
3 |
|
5 |
| 25. |
Cash and cash equivalents |
|
|
|
|
Cash and cash equivalents consist of cash on hand, balances with banks and money-market instruments. |
|
|
|
|
Cash on deposit and on hand |
3,458 |
|
4,377 |
|
Cash investments held by environmental trusts (Note 18) |
246 |
|
264 |
|
Cash held by insurance captives |
375 |
|
347 |
| |
|
4,079 |
|
4,988 |
| |
Cash held in trust comprise funds which may only be utilised for purposes of settling decommissioning and environmental
liabilities relating to existing mining operations. All income earned on these funds is reinvested or spent to meet these
obligations. These obligations are included in environmental obligations (Note 30). |
