Exxaro report selector 2019

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Exxaro Resources Limited
Group and company annual financial statements for the year ended 31 December 2019

Currently viewing: CHAPTER 17 / 17.6 Detailed analysis of investments in subsidiaries1

17.6 Detailed analysis of investments in subsidiaries1

        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                       
Exxaro Australia Iron Investments Proprietary Limited9 AUS                       
Exxaro Australia Proprietary Limited AUS  M & P                       
Exxaro Base Metals China Limited4 HK                       
Exxaro Base Metals International BV NE                       
Exxaro Coal Mpumalanga Proprietary Limited RSA                274   312  
Exxaro International BV NE                       
Exxaro International Trading AG SW                       
Exxaro Reductants Proprietary Limited RSA                       
Forzando Coal Mines Proprietary Limited (74%) RSA                       
Ithemba Farm Proprietary Limited RSA                       
Masinketa Coal Mines Proprietary Limited (74%)9 RSA                       
Matla and Arnot Rehabilitation Trust RSA                       
Mmakau Coal Proprietary Limited (49%) RSA                       
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.