1. Investments in associates, joint ventures and other investments
for the year ended 31 December
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Group |
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Company |
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Number |
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|
|
Loan |
|
Loan |
|
Loan |
|
Loan |
|
| |
|
Nature of |
|
of shares |
|
Percentage |
|
Investment |
|
balance |
|
balance |
|
balance |
|
balance |
|
| |
Rand ’000 |
business1 |
|
held |
|
holding |
|
at cost |
|
2008 |
|
2007 |
|
2008 |
|
2008 |
|
| |
Associates |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Unlisted |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Manganore Iron Mining Limited2 |
A |
|
25,000 |
|
50% |
|
50 |
|
- |
|
- |
|
- |
|
- |
|
| |
Incorporated joint ventures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Unlisted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Pietersburg Iron Company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Pty) Limited |
A |
|
4,000 |
|
50% |
|
3,740 |
|
5,470 |
|
1,682 |
|
- |
|
- |
|
| |
Safore (Pty) Limited2 |
B |
|
400 |
|
40% |
|
- |
|
- |
|
- |
|
- |
|
- |
|
| |
Sishen Shipping (Pty) Limited2 |
B |
|
400 |
|
40% |
|
- |
|
- |
|
- |
|
- |
|
- |
|
| |
Trans Orient Ore Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Pty) Limited |
C |
|
2,000 |
|
50% |
|
- |
|
- |
|
- |
|
- |
|
- |
|
| |
Sibelo Resources Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(Pty) Limited |
D |
|
1 |
|
50% |
|
- |
|
- |
|
507 |
|
- |
|
- |
|
| |
|
|
|
|
|
|
|
3,740 |
|
5,470 |
|
2,189 |
|
|
|
|
|
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Other investments |
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|
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|
|
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|
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|
|
|
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|
|
|
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SIOC Community Development |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
SPV (Pty) Limited3 |
E |
|
458 |
|
100% |
|
- |
|
- |
|
- |
|
474,933 |
|
473,347 |
|
| |
Directors’ valuation of |
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
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investments at 31 December |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Unlisted investments in associates |
|
|
|
|
|
|
50 |
|
- |
|
- |
|
- |
|
- |
|
| |
Unlisted investments in |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
joint ventures |
|
|
|
|
|
|
3,740 |
|
5,470 |
|
2,189 |
|
- |
|
- |
|
| |
Other investments |
|
|
|
|
|
|
- |
|
- |
|
- |
|
474,933 |
|
473,347 |
|
The financial year-end for Manganore Iron Mining Limited and Sibelo Resources Development (Pty) Limited is 30 June. Where the financial year-ends are not co-terminous with that of the group, financial information has been obtained from published information or management accounts as appropriate.
1 A – Mining, B – Shipping charter, C – Iron ore merchant, D – Exploration, E – Community development
2 Dormant
3 Fully paid up redeemable preference shares at the option of the issuer.
All above entities are incorporated in South Africa other than Trans Orient Ore Supplies (Pty) Limited which is incorporated in Hong Kong.
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