Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
| Investment in subsidiaries | ||||||||||||
| Investment in shares | Investment in share-based payments |
|||||||||||
| Country of incorporation2 |
Nature of business3 |
2019 R |
2018 R |
2019 Rm |
2018 Rm |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DIRECT INVESTMENTS | ||||||||||||
| Aquicure Proprietary Limited | RSA | W | 100 | 100 | ||||||||
| Clipeus Investment Holdings Proprietary Limited4 | RSA | H | 1 | 1 | ||||||||
| Colonna Properties Proprietary Limited5 | RSA | B | 2 518 966 | 2 518 966 | ||||||||
| Cullinan Refractories Proprietary Limited | RSA | B | 1 000 | 1 000 | ||||||||
| Exxaro Australia Iron Holdings Proprietary Limited6 | AUS | H | 556 076 871 | 454 214 379 | ||||||||
| Exxaro Base Metals and Industrial Minerals | ||||||||||||
| Holdings Proprietary Limited | RSA | H | 1 | 1 | ||||||||
| Exxaro Chairman’s Fund | RSA | S | ||||||||||
| Exxaro Coal Central Proprietary Limited | RSA | M | 2 389 488 797 | 2 616 170 522 | ||||||||
| Exxaro Coal Proprietary Limited | RSA | M | 1 868 325 864 | 1 868 325 864 | 276 | 376 | ||||||
| Exxaro Employee Empowerment Participation Scheme Trust4 | RSA | S | ||||||||||
| Exxaro Employee Empowerment Trust | RSA | S | ||||||||||
| Exxaro Environmental Rehabilitation Fund | RSA | S | ||||||||||
| Exxaro FerroAlloys Proprietary Limited | RSA | A | 1 | 1 | 5 | 6 | ||||||
| Exxaro Foundation | RSA | S | ||||||||||
| Exxaro Holdings Proprietary Limited | RSA | H | 459 517 297 | 459 517 297 | ||||||||
| Exxaro Insurance Company Limited7 | RSA | I | 312 000 000 | 5 000 000 | ||||||||
| Exxaro Mountain Bike Academy NPC5 | RSA | E | ||||||||||
| Exxaro People Development Initiative NPC | RSA | E | ||||||||||
| Exxaro Properties (Groenkloof) Proprietary Limited4 | RSA | B | 1 | 1 | ||||||||
| Exxaro Resources (Beijing) Commercial Company Limited4 | PRC | C | 1 609 275 | 1 609 275 | ||||||||
| Eyesizwe (RF) Proprietary Limited (24.86%) | RSA | S | 2 480 517 136 | 2 480 517 136 | ||||||||
| Ferroland Grondtrust Proprietary Limited | RSA | F | 2 | 2 | 5 | 5 | ||||||
| Gravelotte Iron Ore Company Proprietary Limited5 | RSA | B | 1 | 1 | ||||||||
| K2018621183 (SA) Proprietary Limited8 | RSA | C | 100 | |||||||||
| Kumba Resources Management Share Trust | RSA | S | ||||||||||
| Rocsi Holdings Proprietary Limited | RSA | H | 653 722 945 | 653 722 945 | ||||||||
| Total direct investments in subsidiaries | 8 723 778 358 | 8 541 597 491 | 286 | 387 | ||||||||
| Total indebtedness receivable/(payable) | |||||||||||
| Total indebtedness by | Total indebtedness (to) | ||||||||||
| Type of indebtedness | 2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| DIRECT INVESTMENTS | |||||||||||
| Aquicure Proprietary Limited | Non-interest-bearing | 31 | 13 | ||||||||
| Clipeus Investment Holdings Proprietary Limited4 | Non-interest-bearing | 219 | 219 | ||||||||
| Colonna Properties Proprietary Limited5 | Total | 228 | 2 | (949) | (1 279) | ||||||
| Cullinan Refractories Proprietary Limited | – Treasury facility | (949) | (1 279) | ||||||||
| Exxaro Australia Iron Holdings Proprietary Limited6 | – Current indebtedness | 228 | 2 | ||||||||
| Exxaro Base Metals and Industrial Minerals | Total | 7 295 | 3 956 | (4 499) | (607) | ||||||
| Holdings Proprietary Limited | – Interest-bearing | 7 060 | 3 832 | ||||||||
| Exxaro Chairman’s Fund | – Treasury facility | (4 499) | (607) | ||||||||
| Exxaro Coal Central Proprietary Limited | – Current indebtedness | 235 | 124 | ||||||||
| Exxaro Coal Proprietary Limited | |||||||||||
| Exxaro Employee Empowerment Participation Scheme Trust4 | |||||||||||
| Exxaro Employee Empowerment Trust | |||||||||||
| Exxaro Environmental Rehabilitation Fund | Total | 133 | 122 | ||||||||
| Exxaro FerroAlloys Proprietary Limited | – Treasury facility | 126 | 119 | ||||||||
| Exxaro Foundation | – Current indebtedness | 7 | 3 | ||||||||
| Exxaro Holdings Proprietary Limited | Non-interest-bearing | 108 | 108 | ||||||||
| Exxaro Insurance Company Limited7 | Current indebtedness | 1 | (5) | ||||||||
| Exxaro Mountain Bike Academy NPC5 | Non-interest-bearing | 1 | |||||||||
| Exxaro People Development Initiative NPC | Non-interest-bearing | ||||||||||
| Exxaro Properties (Groenkloof) Proprietary Limited4 | (1) | (1) | |||||||||
| Exxaro Resources (Beijing) Commercial Company Limited4 | |||||||||||
| Eyesizwe (RF) Proprietary Limited (24.86%) | |||||||||||
| Ferroland Grondtrust Proprietary Limited | Treasury facility | 194 | 175 | ||||||||
| Gravelotte Iron Ore Company Proprietary Limited5 | Non-interest-bearing | ||||||||||
| K2018621183 (SA) Proprietary Limited8 | Non-interest-bearing | 1 | |||||||||
| Kumba Resources Management Share Trust | Non-interest-bearing | (68) | (73) | ||||||||
| Rocsi Holdings Proprietary Limited | (1 394) | (1 170) | |||||||||
| Total direct investments in subsidiaries | 8 210 | 4 596 | (6 911) | (3 135) | |||||||
| Total indebtedness receivable/(payable) | |||||||||||||
| Total indebtedness by | Total indebtedness (to) | ||||||||||||
| Country of incorporation2 |
Nature of business3 |
2019 R |
2018 R |
2019 Rm |
2018 Rm |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INDIRECT INVESTMENTS | |||||||||||||
| Coastal Coal Proprietary Limited | RSA | MIC | 3 | 5 | |||||||||
| Dorstfontein Coal Mines Proprietary Limited (74%) | RSA | M | |||||||||||
| Exxaro Australia Iron Investments Proprietary Limited9 | AUS | H | |||||||||||
| Exxaro Australia Proprietary Limited | AUS | M & P | |||||||||||
| Exxaro Base Metals China Limited4 | HK | H | |||||||||||
| Exxaro Base Metals International BV | NE | H | |||||||||||
| Exxaro Coal Mpumalanga Proprietary Limited | RSA | M | 274 | 312 | |||||||||
| Exxaro International BV | NE | H | |||||||||||
| Exxaro International Trading AG | SW | C | |||||||||||
| Exxaro Reductants Proprietary Limited | RSA | A | |||||||||||
| Forzando Coal Mines Proprietary Limited (74%) | RSA | M | |||||||||||
| Ithemba Farm Proprietary Limited | RSA | F | |||||||||||
| Masinketa Coal Mines Proprietary Limited (74%)9 | RSA | H | |||||||||||
| Matla and Arnot Rehabilitation Trust | RSA | S | |||||||||||
| Mmakau Coal Proprietary Limited (49%) | RSA | P | |||||||||||
| Newcastle Coal Mines Proprietary Limited | RSA | MIC | |||||||||||
| The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited | RSA | MIC | |||||||||||
| Total indirect investment in subsidiaries | 277 | 317 | |||||||||||
| Total investment in subsidiaries | 8 723 778 358 | 8 541 597 491 | 563 | 704 | |||||||||
| Total indebtedness receivable/(payable) | |||||||||||
| Total indebtedness by | Total indebtedness (to) | ||||||||||
| Type of indebtedness | 2019 R |
2018 R |
2019 Rm |
2018 Rm |
|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| INDIRECT INVESTMENTS | |||||||||||
| Coastal Coal Proprietary Limited | Treasury facility | 41 | 18 | ||||||||
| Dorstfontein Coal Mines Proprietary Limited (74%) | |||||||||||
| Exxaro Australia Iron Investments Proprietary Limited9 | |||||||||||
| Exxaro Australia Proprietary Limited | Total | ||||||||||
| Exxaro Base Metals China Limited4 | – Interest-bearing | 3 657 | 1 537 | ||||||||
| Exxaro Base Metals International BV | – Treasury facility | 254 | |||||||||
| Exxaro Coal Mpumalanga Proprietary Limited | – Current indebtedness | 3 513 | 1 218 | ||||||||
| Exxaro International BV | Non-interest-bearing | 144 | 65 | ||||||||
| Exxaro International Trading AG | (6 989) | (6 953) | |||||||||
| Exxaro Reductants Proprietary Limited | |||||||||||
| Forzando Coal Mines Proprietary Limited (74%) | Treasury facility | 145 | 72 | ||||||||
| Ithemba Farm Proprietary Limited | |||||||||||
| Masinketa Coal Mines Proprietary Limited (74%)9 | |||||||||||
| Matla and Arnot Rehabilitation Trust | |||||||||||
| Mmakau Coal Proprietary Limited (49%) | |||||||||||
| Newcastle Coal Mines Proprietary Limited | |||||||||||
| The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited | Treasury facility | 19 | 9 | ||||||||
| Total indirect investment in subsidiaries | 3 862 | 1 636 | (6 989) | (6 953) | |||||||
| Total investment in subsidiaries | 12 072 | 6 232 | (13 900) | (10 088) | |||||||
| 1 | At 100% holding except where otherwise indicated. |
| 2 | RSA — Republic of South Africa, AUS — Australia, HK — Hong Kong, NE — Netherlands, PRC — Peoples’ Republic of China,SW — Switzerland. |
| 3 | M — Mining, B — Property, C — Service, E — Not for profit company, F — Farming, H — Holdings, I — Insuring, A — Manufacturing, P — Exploration, S — Structured entity, W – Water, MIC – Mines in closure. |
| 4 | Liquidation in process at 31 December 2019. |
| 5 | Non-interest-bearing loans receivable that have been fully impaired. |
| 6 | Additional share capital issued during 2019. Loan capitalisation during 2018. |
| 7 | Additional capital contribution during 2019. |
| 8 | New company incorporated during 2019. |
| 9 | Deregistered during 2019. |
