21.

COMMITMENTS


	December 31, 2014		December 31, 2013
Capital commitments
Contracted for		120.5		100.8
Lease commitments
Operating leases
Less than 12 months		3.1		2.9
12 - 36 months		3.5		3.8
36 - 60 months		0.8		0.6
After 60 months		—		1.0

Total		7.4		8.3

Included in net income are operating lease charges amounting to $3.2 million (fiscal 2013: $4.5 million and fiscal 2012: $3.9 million).

Guarantees and other commitments

The Group also provides environmental obligation guarantees with respect to its South African, Ghanaian and Australian operations. These guarantees, amounting to $67.0 million at December 31, 2014 (December 31, 2013: $121.1 million) have not been included in the amount of guarantees of $0.1 million (December 31, 2013: $0.1 million) because they are fully provided for under the related provision for environmental rehabilitation.

Capital commitments will be funded from internal cash resources and borrowings as necessary. All the contracted capital expenditure as at December 31, 2014 and December 31, 2013 relates to obligations within the next 12 months. The expenditure relates to mining development, infrastructure and hostel upgrades.