| Group | ||||||||
| Environmental rehabilitation | ||||||||
| At 31 December 2024 | Note |
Restoration Rm |
Decommis- sioning Rm |
Residual impact Rm |
Other site closure cost Rm |
Other Rm |
Total Rm |
|
| At beginning of the year | 1 823 | 258 | 975 | 127 | 2 | 3 185 | ||
|---|---|---|---|---|---|---|---|---|
| Charge to operating expenses | 6.1.3 | 180 | 25 | 3 | 3 | 211 | ||
| Unwinding of discount rate | 12.1.2 | 201 | 32 | 60 | 11 | 304 | ||
| Change in provisions capitalised to property, plant and equipment | 10.1.3 | 2 | 41 | 43 | ||||
| Utilised during the year | 6.3.1 | (58) | (21) | (21) | (2) | (102) | ||
| Total provisions at end of the year | 2 148 | 356 | 1 017 | 120 | 3 641 | |||
| Non-current | 1 999 | 355 | 908 | 97 | 3 359 | |||
| Current | 149 | 1 | 109 | 23 | 282 | |||
| Group | ||||||||
| Environmental rehabilitation | ||||||||
| At 31 December 2023 | Note |
Restoration Rm |
Decommis-sioning Rm |
Residual impact Rm |
Other site closure cost Rm |
Other Rm |
Total Rm |
|
| At beginning of the year | 1 682 | 305 | 832 | 118 | 4 | 2 941 | ||
| Charge/(reversal) to operating expenses | 6.1.3 | 10 | (81) | 122 | 19 | 70 | ||
| Unwinding of discount rate | 12.1.2 | 178 | 32 | 24 | 10 | 244 | ||
| Change in provisions capitalised to property, plant and equipment | 10.1.3 | 2 | 2 | |||||
| Utilised during the year | 6.3.1 | (47) | (3) | (20) | (2) | (72) | ||
| Total provisions at end of the year | 1 823 | 258 | 975 | 127 | 2 | 3 185 | ||
| Non-current | 1 692 | 257 | 908 | 106 | 2 963 | |||
| Current | 131 | 1 | 67 | 21 | 2 | 222 | ||
| Company | ||||
| Environmental rehabilitation |
||||
| At 31 December 2024 | Note | Restoration Rm |
Total Rm |
|
| At beginning of the year | 53 | 53 | ||
|---|---|---|---|---|
| Reversal to operating expenses | 6.1.3 | (3) | (3) | |
| Unwinding of discount rate | 12.1.2 | 5 | 5 | |
| Utilised during the year | 6.3.1 | (2) | (2) | |
| Total provisions at end of the year | 53 | 53 | ||
| Non-current | 53 | 53 | ||
| Company | ||||
| Environmental rehabilitation | ||||
| At 31 December 2023 | Note | Restoration Rm |
Total Rm |
|
| At beginning of the year | 49 | 49 | ||
| Reversal to operating expenses | 6.1.3 | (1) | (1) | |
| Unwinding of discount rate | 12.1.2 | 5 | 5 | |
| Total provisions at end of the year | 53 | 53 | ||
| Non-current | 53 | 53 | ||
The FPR:2015 contains funding requirements in the form of financial guarantees as well as trust funds. Exxaro has financial guarantees per mine, which are ceded to the DMRE, as well as environmental trust funds.
The current funding excess compared to the present values of the environmental provisions is demonstrated as follows:
| Group | |||
| At 31 December | 2024 Rm |
2023 Rm |
|
| Total environmental provisions | (3 521) | (3 056) | |
|---|---|---|---|
| – Present value of unscheduled restoration and decommissioning costs discounted over LoM | (2 504) | (2 081) | |
| – Present value of unscheduled post-closure residual impact costs discounted over LoM and five years of rehabilitation | (1 017) | (975) | |
| Environmental rehabilitation funds in trust1 | 2 775 | 2 530 | |
| Financial guarantees ceded to the DMRE | 13.4.1 | 3 552 | 3 552 |
| Current funding excess | 2 806 | 3 026 | |
| 1 | Includes both the environmental rehabilitation funds classified as financial assets at FVPL and financial assets at amortised cost. Refer note 10.3.2. |
The table below demonstrates the environmental rehabilitation cost in the event of immediate closure:
| Group | ||
| At 31 December | 2024 Rm |
2023 Rm |
| Estimated unscheduled restoration and decommissioning closure costs (undiscounted) | (7 046) | (7 576) |
|---|---|---|
| Estimated unscheduled post-closure residual impact cost1 | (1 513) | (1 751) |
| 1 | Long-term post-closure water treatment cost included at the net present value. |
IR