14.  

Related party transactions  

The Group entered into PGM purchase transactions of R3 409 (June 2013: R2 990) million with Two Rivers Platinum, an associate company, resulting in an amount payable of R936 (June 2013: R759) million. It also received refining fees to the value of R21 million (June 2013: refining fees and interest to the value of R20 million). The shareholders’ loan was repaid during the previous year.  

The Group previously entered into sale and leaseback transactions with Friedshelf, an associate company. At the end of the period, an amount of R1 221 (June 2013: R1 224) million was outstanding in terms of the lease liability. During the period, interest of R111 (June 2013: R123) million was charged and a R114 (June 2013: R100) million repayment was made. The finance leases have an effective interest rate of 10.2%.   

The Group entered into PGM purchase transactions of R2 642 (June 2013: R2 034) million with Mimosa Investments, a joint venture, resulting in an amount payable of R778 (June 2013: R572) million. It also received refining fees and interest to the value of R223 (June 2013: R169) million.   

These transactions are entered into on an arm’s-length basis at prevailing market rates.