Integrated Report 2021
Exxaro Resources Limited
Annual Financial Statements 2021
| Group | ||
| At 31 December | 2021 | (Re-presented)1 |
| Thabametsi | ||
| Impairment charges | (21) | |
| – Property, plant and equipment | (21) | |
| ECC operation | ||
| Impairment charges | (1 378) | |
| – Property, plant and equipment | (1 359) | |
| – Right-of-use assets | (19) | |
| Total impairment charges of non-current operating assets | (21) | (1 378) |
| Investments in associates | ||
| Impairment charges | (504) | |
| – Insect Technology | (458) | |
| – Curapipe | (46) | |
| Total impairment charges of equity-accounted investments | (504) | |
| Net impairment charges of non-current assets | (21) | (1 882) |
| Net tax effect | 6 | 236 |
| Net effect on attributable earnings | (15) | (1 646) |
1 Refer note 19.1.
Exxaro Coal planned to commence with an operation (coal mining and beneficiation) to supply the planned Thabametsi IPP with coal. Progress on the IPP project was ceased at the end of 2021 due to the stakeholders no longer supporting the project.
Due to the cessation of the IPP project, certain assets which related to the Thabametsi project were reallocated to the infrastructure of the bigger Grootegeluk operation. On 31 December 2021, an impairment charge relating to the remaining Thabametsi project assets has been processed.
| Company | |
| At 31 December | 2020 Rm |
| ECC operation | |
| Impairment charges | (1 520) |
| – Investment in subsidiary | (1 520) |
| Total impairment charges of investment in subsidiary | (1 520) |
| Investments in associates | |
| Impairment charges | (715) |
| – Insect Technology | (674) |
| – Curapipe | (41) |
| Total impairment charges of investments in associates | (715) |
| Net impairment charges of non-current assets1 | (2 235) |
1 Tax of nil.
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