Download - Mintek

More documents

Recommendations

Info

$Furnace refractory erosion - Mintek$

FINANCIAL STATEMENTS AND NOTES 2007STATEMENTS OF FINANCIAL POSITION AT 31 MARCH 20072007 2006 2007 2006Notes R R R RNon-current assetsGROUP GROUP MINTEK MINTEKProperty, plant and equipment 11.1 142,338,891 142,639,489 142,338,891 142,639,489Intangible assets 11.2 4,260,735 – 4,260,735 –Investment property 12 11,776,682 8,835,416 11,776,682 8,835,416Equity accounted investments 13 – 12,285,939 – –Investment in subsidiary 14 – – 100 100Long-term loans and advances 15 25,143,191 1,151,611 1,877,191 1,151,611Total non-current assets 183,519,499 164,912,455 160,253,599 152,626,616Current assetsInventory 16 3,279,036 2,744,373 3,279,036 2,744,373Loans and advances to subsidiary 14 – – 7,385,486 –Trade and other receivables 17 84,224,481 46,227,992 63,920,923 47,920,700Short-term investments 18 89,491,480 102,830,270 89,491,480 102,830,270Cash and cash equivalents 30,522,665 30,937,858 30,522,665 30,937,858Total current assets 207,517,662 182,740,493 194,599,590 184,433,201Total assets 391,037,161 347,652,948 354,853,189 337,059,817EquityNon-distributable reserves 62,794,971 63,046,831 62,794,971 63,046,831Retained earnings 180,849,632 159,935,184 145,178,332 141,922,781Total equity 243,644,603 222,982,015 207,973,303 204,969,612LiabilitiesNon-current liabilities 22 62,700,000 61,235,000 62,700,000 61,235,000Long-term creditors 23 1,351,778 1,792,727 1,351,778 1,379,91564,051,778 63,027,727 64,051,778 62,614,915Current liabilitiesLoans and advances to subsidiary 14 – – – 8,277,896Trade and other payables 19 41,105,245 27,324,092 40,592,573 26,878,280Deferred income 20 24,666,118 21,674,053 24,666,118 21,674,053Provisions 21 17,569,417 12,645,061 17,569,417 12,645,061Current liabilities 83,340,780 61,643,206 82,828,108 69,475,290Total equity and liabilities 391,037,161 347,652,948 354,853,189 337,059,817PP JOURDANCEO, <strong>Mintek</strong>Randburg, 31 August 2007V GOVENDERGeneral Manager, <strong>Mintek</strong> Corporate Servicesannual report 200762
FINANCIAL STATEMENTS AND NOTES 2007STATEMENTS OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31 MARCH 2007Notes2007R2006R2007R2006RContinuing operations GROUP GROUP MINTEK MINTEKRevenue 2 299,145,738 256,514,904 297,453,030 257,296,154Cost of sales 3 (269,593,895) (242,161,677) (269,590,775) (242,161,677) 29,551,843 14,353,227 27,862,255 15,134,477Other operating income 4 10,411,752 18,162,113 10,571,654 18,224,316 828,669 (81,735) 828,669 (81,735)Investment income 5 12,463,899 9,817,025 12,043,342 9,817,025Finance expenses 6 (526,035) (597,395) (457,487) (502,814)Audit fees 7 (1,518,846) (1,924,160) (1,414,526) (1,884,479)Fees for services 8 (26,856,271) (11,999,983) (26,268,410) (11,999,983)Depreciation 9 (14,884,848) (10,640,635) (14,884,848) (10,640,635)Loss on disposal of property, plant and equipment (387,313) (1,131,011) (387,313) (1,131,011) 28.2 13,483,971 (653,037) – – 10 (4,889,645) (12,828,438) (4,889,645) (12,828,438) 13 9,400,750 2,645,536 – – 27,077,926 5,121,507 3,003,691 4,106,723Taxation 26 (6,415,338) (330,241) – – 20,662,588 4,791,266 3,003,691 4,106,72363annual report 2007
Page 1 and 2:
MINTEKANNUALREPORT2007
Page 3 and 4:
MINTEKANNUAL REPORT2007CONTENTSMint
Page 5 and 6:
THE MINING VALUE CHAINTechnologies
Page 7 and 8:
CHAIRMAN’S REVIEWI am pleased to
Page 9 and 10:
Mr Harold Motaung, and new members
Page 11 and 12:
CEO’S REPORTAs a result of the ph
Page 13 and 14: income grew frommillion in 2006/07,
Page 15 and 16: of the Mineral Development Branch a
Page 17 and 18: Organisational perspective Measure
Page 19 and 20: TECHNICAL REVIEWGOLD INDUSTRYAuTEK
Page 21 and 22: expected to be complete by the four
Page 23 and 24: of ore types and concentrate compos
Page 25 and 26: vast resources of iron, vanadium, a
Page 27 and 28: partitioned into several operating
Page 29 and 30: The recent interest shown in this t
Page 31 and 32: oute to remove the quartz and hemat
Page 33 and 34: COMMERCIALACTIVITIESMintek’s comm
Page 35 and 36: Heap leaching of nickel lateritesHe
Page 37 and 38: CAPITAL EQUIPMENTA 125 kilogram per
Page 39 and 40: MINERAL POLICYAND SUSTAINABLEDEVELO
Page 41 and 42: REACHAt the beginning of 2006, MESU
Page 43 and 44: KGABANE JEWELLERY INITIATIVEThe Kga
Page 45 and 46: PEOPLEHUMAN CAPITAL MANAGEMENTMinte
Page 47 and 48: management, relationships, and lega
Page 49 and 50: Science, engineering and technology
Page 51 and 52: Jourdan PP. Links with Domestic Ind
Page 53 and 54: ANNUALFINANCIAL STATEMENTSFOR THE Y
Page 55 and 56: INTERNAL CONTROLMintek maintains in
Page 57 and 58: AUDIT COMMITTEE REPORTThe Audit Com
Page 59 and 60: DIRECTORS’ REPORTThe directors ta
Page 61 and 62: REPORT OF THE AUDITOR-GENERALREPORT
Page 63: OTHER REPORTING RESPONSIBILITIESRep
Page 67 and 68: FINANCIAL STATEMENTS AND NOTES 2007
Page 87 and 88: AfDB - African Development BankAMI
show all

Download - Mintek

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?