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PROVISION FOR ENVIRONMENTAL REHABILITATION
 12 Months Ended
Dec. 31, 2011
PROVISION FOR ENVIRONMENTAL REHABILITATION
14. PROVISION FOR ENVIRONMENTAL REHABILITATION

The Group has made, and expects to make in the future, expenditures to comply with environmental laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation costs are based principally on legal and regulatory requirements. The following is a reconciliation of the total liability for environmental rehabilitation:

 

     December 31,
2011		     December 31,
2010		     June 30,
2010		  

Asset retirement obligations

       

Opening balance

      324.4        275.7        236.9   

Addition to liabilities

      18.7        12.3        11.9   

Liabilities settled

      (1.7 )      (2.1 )      (4.3 ) 

Accretion of liability

      24.9        10.9        19.3   

Foreign currency translation adjustment

      (29.4 )      27.6        11.9   
  

 

 

    

 

 

    

 

 

  

Balance at close

      336.9        324.4        275.7   
  

 

 

    

 

 

    

 

 

  

The Group intends to finance the ultimate rehabilitation costs of the South African operations from the monies invested with the environmental trust fund, ongoing contributions, as well as the proceeds of the sale of assets and gold from plant clean-up at the time of mine closure.