Entire Annual Report - Anglo American Platinum

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COMPANYGROUP1999 2000 2000 1999Rm Rm Rm Rm23. Share capitalAuthorised40,0 40,0 400 000 000 Ordinary shares of 10 cents each 40,0 40,0Issued21,5 21,6 216 086 472 Ordinary shares of 10 cents each 21,6 21,50,1 0,1 925 829 Issued in terms of the share option scheme 0,1 0,121,6 21,7 217 012 301 Balance at 31 December 21,7 21,6The unissued shares are under the control of the directorsuntil the forthcoming annual general meeting.24. Non-distributable reserve518,4 518,4 General capital reserve — —— — Foreign currency translation reserve — 8,9518,4 518,4 — 8,925. Borrowings— — Ten-year variable rate facility (unsecured) 33,9 47,5Terms of repayment: six-monthly instalments whichcommenced on 20 February 1993 with a final instalmentpayable on 31 October 2002. Finance charges are calculatedmonthly in arrears. The current average interest rate is15,4% (31 December 1999: 15,5%) per annum.Less : short-term portion transferred to current liabilities— — (note 29) (14,6) (13,5)— — 19,3 34,026. Deferred taxationDeferred taxation liability is attributable to temporarydifferences relating to:— — Deferred taxation liabilities 2 307,5 1 672,7— — Mining property, plant and equipment 2 297,2 1 653,3— — Prepaid expenses 10,3 19,4— — Deferred taxation assets (210,5) (147,9)— — Provision for post-retirement medical aid benefit (87,1) (76,2)— — Provision for leave pay (81,0) (68,3)— — Other (42,4) (3,4)— — (Note 30) 2 097,0 1 524,8163
Notes to theFinancial Statements" for the year ended 31 December (continued)COMPANYGROUP1999 2000 2000 1999Rm Rm Rm Rm27. Environmental rehabilitation obligationPROVISION FOR DECOMMISSIONING (note 30) 99,3 87,4Opening balance 87,4 77,9Movement for the year 11,9 9,5Present value of decommissioning of expansion projects(note 14) 6,3 2,9Charged to net investment income (note 9) 5,6 6,6PROVISION FOR RESTORATION (note 30) 49,5 40,5Opening balance 40,5 21,8Movement for the year 9,0 18,7Present value of increase in restoration obligation charged toincome statement 5,8 18,7Charged to net investment income (note 9) 3,2ENVIRONMENTAL REHABILITATIONOBLIGATION BEFORE FUNDING 148,8 127,9Less: <strong>Platinum</strong> Producers’ Environmental Trust (note 16) 53,3 39,4NET ENVIRONMENTAL REHABILITATIONOBLIGATION 95,5 88,5Future value of decommissioning obligation 666,3 574,0Future value of restoration obligation 82,6 40,528. Employees’ service benefits— — Provision for post-retirement medical aid benefits (note 30) 290,2 254,0— — Provision for leave pay (note 30) 269,9 227,8— — 560,1 481,829. Accounts payable— — Trade accounts 744,6 450,5— — Related parties (note 31) — 12,1— — Other 744,6 438,4— — Short-term portion of borrowings (note 25) 14,6 13,577,3 80,7 Other payables and accrued expenses 287,6 320,9— — Provision for bonuses (note 30) 100,1 53,777,3 80,7 1 146,9 838,6164
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Global markets for platinumANGLO Am
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Vision and ValuesOUR VISION" to inc
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B E Ngubane" EXECUTIVE DIRECTOR: HU
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L Boyd" CHAIRMANThe above factors,
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Chairman’s Statement" (continued)
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PALLADIUMStill more pronounced than
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E Ford" EXECUTIVE DIRECTOR: OPERATI
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CREATING growth in anexpanding mark
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elationship with JM provides intell
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Platinum supply 2000South Africa 72
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Heavy photochemical smog in Tokyo,
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Fuel cell stackDomestic sales of mo
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PLATINUM JEWELLERYDespite the stron
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Platinum jewellery is firmly establ
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GlassThe increase in demand for per
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● Toyota Motor Corporation and Ge
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Gross palladium demand for the auto
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hodium from autocatalyst scrap, whi
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CREATING businessopportunities47
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Existing operationsEXISTING MINESW
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Business Development Review" (conti
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52Review of Operations
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Review of Operations - Overviews" O
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Review of Operations" Environmental
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Review of Operations" Environmental
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Review of Operations" Breakthrough
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Review of Operations" Technology Di
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Review of Operations" Technology Di
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Glossary of terms: OperationsGlossa
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68Mining Operations
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NORTHERNPROVINCEPPRUSTLEPLATSRPM AM
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The Group produces platinum as a pr
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Review of Operations - Mining" Angl
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ANGLO PLATINUM GROUP COMBINED MINER
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CONSOLIDATED OPERATING PERFORMANCEF
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Review of Operations - Mining" Busi
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PRODUCTION STATISTICS AND EFFICIENC
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D W PelserBUSINESS MANAGER #B H Dav
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Ga-Pila villageNegotiations on the
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Review of Operations - Process" Bus
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R P BuitendagENGINEERINGMANAGER #A
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B G ForbesENGINEERINGMANAGER #G P H
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Corporate" Finance Review . . .Fina
Page 115 and 116: C o r p o r a t e" Finance Review .
Page 117 and 118: Corporate" Finance Review (continue
Page 119 and 120: Corporate" Human Resources Review .
Page 127 and 128: Share Transactions Totally Electron
Page 129 and 130: 126Annual Financial Statements
Page 131 and 132: Report of theIndependent AuditorsTO
Page 133 and 134: Directors’ Report" (continued)FIN
Page 135 and 136: Directors’ Report" (continued)Inc
Page 137 and 138: Directors’ Report" (continued)Sha
Page 139 and 140: Statement of Corporate GovernanceGe
Page 141 and 142: Statement of Corporate Governance"
Page 143 and 144: Principal Accounting PoliciesThe fi
Page 145 and 146: Principal Accounting Policies" (con
Page 147 and 148: Principal Accounting Policies" (con
Page 149 and 150: Income Statements" for the year end
Page 151 and 152: Group Statement ofChange in Shareho
Page 153 and 154: United States Dollar EquivalentInco
Page 155 and 156: United States Dollar EquivalentCash
Page 157 and 158: Notes to theFinancial Statements" f
Page 165: Notes to theFinancial Statements" f
Page 181 and 182: N o t e s to theFinancial Statement
Page 183 and 184: N o tes to theFinancial Statements"
Page 185 and 186: Anglo American Platinum Corporation
Page 187 and 188: Directorate" (continued)Alternate D
Page 189 and 190: Corporate and Divisional OfficeMana
Page 191 and 192: Notice to membersAnnual General Mee
Page 193 and 194: Notice to members" (continued)gener
Page 195 and 196: AcknowledgementsAcknowledgements fo
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Entire Annual Report - Anglo American Platinum

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