| 2014 Rm |
2013 Rm |
||
36. |
Related party transactions |
||
(i) Associates |
|||
| Two Rivers | |||
| Transactions with related parties: | |||
| Refining fees | 21 | 18 | |
| Interest payment received (notes 8 (i) and 28) | – | 2 | |
| Capital repayments received (note 8 (i)) | – | 49 | |
| Purchases of mineral concentrates | 3 409 | 2 990 | |
| Year-end balances arising from transactions with related parties: | |||
| Payables to associates | 936 | 759 | |
| Contingencies: | |||
| Guarantees provided (notes 8 (i) and 35) | – | – | |
| Makgomo Chrome | |||
| Transactions with related parties: | |||
| Refining fees | 13 | 8 | |
| Purchases of mineral concentrates | 13 | 8 | |
| Year-end balances arising from transactions with related parties: | |||
| Receivables from associates | – | – | |
| Friedshelf | |||
| Transactions with related parties: | |||
| Interest accrued | 111 | 123 | |
| Interest repayments | 114 | 100 | |
| During 2012 profit on sale of property resulted from the sale of houses with a carrying value of R567 million, which was leased back for R769 million (note 20 iv)). | |||
| Year-end balances arising from transactions with related parties: | |||
| Receivables from associates | – | 133 | |
| Borrowings – Finance leases | 1 221 | 1 224 | |
| The finance leases have an effective interest rate of 10.2%. | |||
| Contingencies | |||
| Guarantees provided (notes 8 and 35) | 152 | 152 | |
(ii) Joint venture |
|||
| Mimosa | |||
| Transactions with related parties: | |||
| Refining fees | 222 | 167 | |
| Interest received | 1 | 2 | |
| Purchases of mineral concentrates | 2 642 | 2 034 | |
| Year-end balances arising from transactions with related parties: | |||
| Payables to joint venture | 778 | 572 | |
| Receivables from joint venture | 601 | 416 | |
| Transactions with related parties were entered into on an arm’s-length basis at prevailing market rates. | |||
| Key management compensation is disclosed in the directors’ report. |