DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE AND CREDIT RISK OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Estimated Fair Values of Financial Instruments

The estimated fair values of the the Group’s financial instruments are:


	December 31, 2011				December 31, 2010				June 30, 2010
	Carrying value		Fair value		Carrying value		Fair value		Carrying value		Fair value
Financial assets
Cash and cash equivalents		744.0		744.0		809.5		809.5		500.7		500.7
Receivables		483.4		483.4		411.4		411.4		305.4		305.4
Non-current investments		272.2		272.2		344.3		344.3		254.3		254.3
Financial liabilities
Long-term loans		1,360.7		1,263.0		1,136.6		1,107.5		430.0		430.0
Accounts payable and provisions		669.9		669.9		670.6		670.6		551.9		551.9
Interest payable		11.2		11.2		4.1		4.1		4.5		4.5
Short-term loans and current portion of long-term loans		547.0		547.0		261.7		261.2		691.1		691.1
Other non-current liabilities		13.5		13.5		19.7		19.7		—		—

Financial Assets Measured at Fair Value by Level

The following table sets forth our financial assets and liabilities measured at fair value by level within the fair value hierarchy. As required by Accounting Standard Codification, or ASC, fair value guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Fair value at December 31, 2011
	Total $ m		Level 1 $ m		Level 2 $ m		Level 3 $ m
Assets:
Listed investments		77.3		77.3		—		—
Investments held by environmental trust funds		161.5		122.5		39.0		—
Unlisted investments		2.6		—		—		2.6
Trade receivable from provisional copper concentrate sales, net		88.4		—		88.4		—

		329.8		199.8		127.4		2.6


	Fair value at December 31, 2010
	Total $ m		Level 1 $ m		Level 2 $ m		Level 3 $ m
Assets:
Listed investments		124.4		124.4		—		—
Investments held by environmental trust funds		168.5		120.0		48.5		—
Unlisted investments		1.7		—		—		1.7
Trade receivable from provisional copper concentrate sales, net		83.2		—		83.2		—

		377.8		244.4		131.7		1.7


	Fair value at June 30, 2010
	Total $ m		Level 1 $ m		Level 2 $ m		Level 3 $ m
Assets:
Listed investments		76.8		76.8		—		—
Investments held by environmental trust funds		133.8		80.3		53.5		—
Unlisted investments		1.3		—		—		1.3
Trade receivable from provisional copper concentrate sales, net		45.7		—		45.7		—

		257.6		157.1		99.2		1.3

Changes in Fair Value of Level 3 Financial Assets

The table below sets forth a summary of changes in the fair value of our Level 3 financial assets.


	December 31, 2011		December 31, 2010			June 30, 2010
Balance at the beginning of the period		1.7		1.3			0.8
Additions		0.4		—			0.9
Settlements		—		(0.8	)		(0.7	)
Impairments		—		—			(0.5	)
Unrealized gain		0.5		1.2			0.8

Balance at the end of the period		2.6		1.7			1.3

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 7

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13467-108611

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 3

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 7, 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details