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15. JOINT VENTURESJointly controlled operationThe Group and African Rainbow Minerals (ARM) have established a 50:50 jointly controlled operation,known as the Modikwa Platinum Mine Joint Venture, to undertake mining at Maandagshoek on theeastern limb of the Bushveld Complex.Pooling and Sharing Arrangement (PSA)The Group and Aquarius Platinum (South Africa) (Proprietary) Limited (Aquarius) have pooled certainmineral rights and infrastructure. From 1 November 2003, the two parties share 50:50 in the profits fromthe jointly controlled mine, which is managed by Aquarius (also see Note 33).2003 2002RmRm16. NON-CURRENT ACCOUNTS RECEIVABLENon-current portion of prepaid operating lease rentalsPre-paid operating lease rentals to Ga-Pila (Proprietary) Limited,a company registered in terms of section 21 of theCompanies Act in South Africa 100.8 105.1Less: Short-term portion transferred to accounts receivable (Note 18) (4.3) (4.3)96.5 100.817. INVENTORIESThe amounts attributable to the different categories are as follows:Refined metals 866.4 621.6At cost 821.2 597.7At net realisable value 45.2 23.9Work-in-process at cost 1 246.7 906.6Total metal inventories 2 113.1 1 528.2Stores and material at cost 326.5 291.72 439.6 1 819.918. ACCOUNTS RECEIVABLETrade accounts receivable 1 615.4 991.5Other receivables and prepaid expenses 667.0 621.92 282.4 1 613.4Short-term portion of non-current accounts receivable (Note 16) 4.3 4.32 286.7 1 617.719. CASH AND CASH EQUIVALENTSCash and cash equivalents consist of cash on hand, balances withbanks, and money-market instruments 569.4 1 580.074