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Provisions (Tables) | 12 Months Ended
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Dec. 31, 2020
Text block [abstract] |
Schedule of Provisions |
25 . |  | PROVISIONS |  |  |  |  |  |  |  |
25.1 |  | Environmental rehabilitation costs |  |  | 381.5 |  |  |  | 370.3 |
25.2 |  | Silicosis settlement costs |  |  | 18.3 |  |  |  | 21.2 |
|  | Other |  |  | 3.1 |  |  |  | 4.2 |
|  | Total provisions |  |  | 402.9 |  |  |  | 395.7 |
|  | Current portion of provisions |  |  | (23.6 | ) |  |  | (4.6 | )
|  | Non-current portion of provisions |  |  | 379.3 |  |  |  | 391.1 |
25.1 |  | Environmental rehabilitation costs |  |  |  |  |  |  |  |
|  | Balance at beginning of the year |  |  | 370.3 |  |  |  | 289.6 |
|  | Changes in estimates 1 |  |  | (5.1 | ) |  |  | 79.5 |
|  | Interest expense |  |  | 10.7 |  |  |  | 11.7 |
|  | Payments |  |  | (12.9 | ) |  |  | (10.7 | )
|  | Translation adjustment |  |  | 18.5 |  |  |  | 0.2 |
|  | Balance at end of the year 2 |  |  | 381.5 |  |  |  | 370.3 |
|  | Current portion of environmental rehabilitation costs |  |  | (19.6 | ) |  |  | — |
|  | Non-current portion of environmental rehabilitation costs |  |  | 361.9 |  |  |  | 370.3 |
1 | Changes in estimates are defined as changes in reserves and corresponding changes in life of mine as well as changes in laws and regulations governing environmental matters, closure cost estimates and discount rates.
2 | South African, Ghanaian, Australian and Peruvian mining companies are required by law to undertake rehabilitation as part of their ongoing operations. These environmental rehabilitation costs are funded as follows:
| • |  | Ghana - reclamation bonds underwritten by banks and restricted cash (refer note 18);
| • |  | South Africa - contributions into environmental trust funds (refer note 18) and guarantees (refer note 34);
| • |  | Australia - mine rehabilitation fund levy; and
| • |  | Peru - bank guarantees (refer note 34).
Schedule of Assumption in Provision Calculation |
|  | The provision is calculated using the following gross closure cost estimates: |  |  |  |  |  |  |  |
|  | South Africa |  |  | 43.9 |  |  |  | 45.9 |
|  | Ghana |  |  | 104.4 |  |  |  | 105.6 |
|  | Australia |  |  | 218.8 |  |  |  | 198.2 |
|  | Peru |  |  | 97.4 |  |  |  | 86.2 |
|  | Chile |  |  | 2.1 |  |  |  | 0.4 |
|  | Total gross closure cost estimates |  |  | 466.6 |  |  |  | 436.3 |
|  | The provision is calculated using the following assumptions: |  | Inflation rate |  |  | Discount rate |
|  | 2020 |  |  |  |  |  |  |  |
|  | South Africa |  |  | 4.8 | % |  |  | 10.8 | %
|  | Ghana |  |  | 2.2 | % |  |  | 6.7%-7.2 | %
|  | Australia |  |  | 2.5 | % |  |  | 2.5 | %
|  | Peru |  |  | 2.2 | % |  |  | 2.2 | %
|  | Chile |  |  | 2.2 | % |  |  | 2.2 | %
|  | 2019 |  |  |  |  |  |  |  |
|  | South Africa |  |  | 5.4 | % |  |  | 10.3 | %
|  | Ghana |  |  | 2.5 | % |  |  | 7.7%-7.9 | %
|  | Australia |  |  | 2.5 | % |  |  | 1.2%-1.6 | %
|  | Peru |  |  | 2.5 | % |  |  | 3.0 | %
|  | Chile |  |  | 2.5 | % |  |  | 2.6 | %
Summary of Silicosis Settlement Costs |
|  |  |  |  | UNITED STATES DOLLAR |
|  |  |  |  | 2020 |  |  |  | 2019 |
25.2 |  | Silicosis settlement costs 1 |  |  |  |  |  |  |  |
|  | Balance at the beginning of the year |  |  | 21.2 |  |  |  | 25.1 |
|  | Changes in estimates |  |  | 0.3 |  |  |  | (1.6 | )
|  | Unwinding of provision recognised as finance expense |  |  | 1.5 |  |  |  | 1.3 |
|  | Payment |  |  | (3.5 | ) |  |  | (4.6 | )
|  | Translation |  |  | (1.2 | ) |  |  | 1.0 |
|  | Balance at end of the year |  |  | 18.3 |  |  |  | 21.2 |
|  | Current portion of silicosis settlement costs |  |  | (4.0 | ) |  |  | (4.6 | )
|  | Non-current portion of silicosis settlement costs |  |  | 14.3 |  |  |  | 16.6 |

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