Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
| Group | ||||||||||||
| Gross investment | Unearned finance income | Net investment | ||||||||||
| 2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-current | 90 | 104 | (29) | (38) | 61 | 66 | ||||||
| Current | 14 | 14 | (8) | (9) | 6 | 5 | ||||||
| Total1 | 104 | 118 | (37) | (47) | 67 | 71 | ||||||
| Non-cancellable lease payments receivable are as follows: | ||||||||||||
| Not later than one year | 14 | 14 | (8) | (9) | 6 | 5 | ||||||
| Later than one year but | ||||||||||||
| not later than five years | 56 | 56 | (24) | (29) | 32 | 27 | ||||||
| Later than five years | 34 | 48 | (5) | (9) | 29 | 39 | ||||||
| Total1 | 104 | 118 | (37) | (47) | 67 | 71 | ||||||
| 1 | The fi nance lease receivable is the present value of non-cancellable future minimum lease payments receivable. |
The lease relates to the upgrade of the Zeeland Water Treatment Works (in Lephalale, South Africa) of which Exxaro will fund the capital for a period of 15 years. The municipality’s share of the capital expenditure is recovered through fixed monthly instalments over this period. The minimum lease instalments are payable monthly with no escalation and calculated at a rate of 13% per annum.
