Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
| Group | |||
| For the year ended 31 December 2019 | Tumelo subsidiary1 Rm |
Tronox UK associate2 Rm |
|
| Consideration: | |||
| – Cash | 1 597 | ||
| – Loan to associate | 142 | ||
| Total disposal consideration | 142 | 1 597 | |
| Carrying amount of net assets/investment sold | (177) | (1 327) | |
| – Property, plant and equipment | (21) | ||
| – Investment in associate3 | (92) | (1 327) | |
| – Financial assets at amortised cost | (12) | ||
| – Deferred tax asset | (10) | ||
| – Other current assets | (1) | ||
| – Provisions | 9 | ||
| – Deferred tax liability | 27 | ||
| – Trade and other payables | 4 | ||
| – Other current liabilities | 1 | ||
| – Non-controlling interests | (82) | ||
| (Loss) on loss of control/gain on disposal4 | (35) | 270 | |
| 1 | On 1 January 2019, Exxaro lost control over the management function of Tumelo. This resulted in Tumelo being accounted for as an associate at an initial carrying value of nil. |
| 2 | Relates to the redemption of membership interest in Tronox UK |
| 3 | The carrying amount reduced during the year by R460 million as a result of a dividend distribution received from Tronox UK. |
| 4 | After tax of nil. |
| Company | ||
| For the year ended 31 December 2019 | Tronox UK associate1 Rm |
|
| Consideration: | ||
| – Cash | 1 597 | |
| Total disposal consideration | 1 597 | |
| Carrying amount of investment sold | (1 091) | |
| – Investment in associate | (1 091) | |
| Gain on disposal2 | 506 |
| 1 | Relates to the redemption of membership interest in Tronox UK. |
| 2 | After tax of nil. |
