The accounting policy for financial assets is disclosed in note 16.1.
| Group | Company | |||||||||
At 31 December |
Note | 2023 Rm |
2022 Rm |
2023 Rm |
2022 Rm |
|||||
| Non-current | ||||||||||
| Financial assets at FVOCI | 434 | 474 | ||||||||
| Equity: unlisted – Chifeng1 | 434 | 474 | ||||||||
| Financial assets at FVPL | 3 839 | 2 607 | 38 | 35 | ||||||
| Debt: unlisted – environmental rehabilitation funds | 2 422 | 2 187 | 38 | 35 | ||||||
| Debt: unlisted – portfolio investments | 461 | 420 | ||||||||
| Debt: unlisted – deposit facilities2 | 956 | |||||||||
| Derivative financial assets designated as hedging instruments | 2 | 11 | ||||||||
| Cash flow hedge derivatives: interest rate swaps3 | 2 | 11 | ||||||||
| Financial assets at amortised cost | 341 | 447 | 3 214 | 4 395 | ||||||
| ESD loans4 | 106 | 102 | 106 | 102 | ||||||
| Vendor finance loan5 | 127 | 173 | 127 | 173 | ||||||
| Interest-bearing loans to subsidiaries6 | 17.5 | 2 981 | 4 120 | |||||||
| Other financial assets at amortised cost | 108 | 172 | ||||||||
| – Environmental rehabilitation funds | 108 | 99 | ||||||||
| – Deferred pricing receivable7 | 76 | |||||||||
| – Impairment allowances | (3) | |||||||||
| Total non-current financial assets | 16.3 | 4 616 | 3 539 | 3 252 | 4 430 | |||||
| Current | ||||||||||
| Financial assets at FVPL | 22 | 57 | ||||||||
| Derivative financial assets | 22 | 57 | ||||||||
| Financial assets at amortised cost | 188 | 319 | 1 976 | 1 997 | ||||||
| ESD loans4 | 63 | 76 | 63 | 76 | ||||||
| Vendor finance loan5 | 50 | 121 | 50 | 121 | ||||||
| Interest-bearing loans to subsidiaries6 | 17.5 | 1 158 | 511 | |||||||
| Non-interest-bearing loans to subsidiaries8 | 17.5 | 575 | 676 | |||||||
| Treasury facilities with subsidiaries9 | 17.5 | 130 | 559 | |||||||
| Other financial assets at amortised cost | 75 | 122 | 54 | |||||||
| – Deferred pricing receivable7 | 77 | 70 | ||||||||
| – Deferred consideration receivable10 | 56 | 56 | ||||||||
| – Employee receivables | 4 | 4 | 4 | 4 | ||||||
| – Impairment allowances | (6) | (8) | (4) | (6) | ||||||
| Total current financial assets | 16.3 | 210 | 376 | 1 976 | 1 997 | |||||
| Total financial assets | 4 826 | 3 915 | 5 228 | 6 427 | ||||||
| 1 | Exxaro holds an 8.81% (2022: 8.81%) shareholding in Chifeng. |
| 2 | Deposit or credit facilities that are contractual arrangements with insurance providers with an initial five-year term and are used to cover insurance claims over the term of the contracts. The balance of the facility is refunded at the end of the term, net of fees, returns and claims incurred. Annual premiums are required to be placed in the facility over the term yielding returns on underlying fund portfolios. |
| 3 | Refer note 16.3.3.2.3.2. |
| 4 | Interest-free loans advanced to successful applicants in terms of the Exxaro ESD programme. |
| 5 | Vendor finance loan granted to Overlooked Colliery as part of the disposal of the ECC operation. The repayment terms were revised during 2022. The loan is unsecured, repayable from 1 October 2022 and bears interest at:
|
| 6 | Includes back-to-back loans as well as other interest-bearing loans. Refer note 17.5 for details of the terms and conditions. |
| 7 | Relates to a deferred pricing adjustment which arose during 2017. The amount receivable will be settled over seven years (ending 2024) and bears interest at Prime Rate less 2%. |
| 8 | These loans are interest-free, unsecured and repayable on demand. |
| 9 | Treasury facilities with subsidiaries have no repayments terms and are repayable on demand. Interest is charged at money market rates. |
| 10 | Relates to deferred consideration receivable which arose on the disposal of the ECC operation. |
IR