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Assets under construction (Tables)
12 Months Ended
Jun. 30, 2018
Assets under construction  
Schedule of assets under construction

 

 

 

Property

 

 

 

 

 

 

 

 

 

plant and

 

Other

 

Exploration

 

 

 

 

 

equipment

 

intangible

 

and

 

 

 

 

 

under

 

assets under

 

evaluation

 

 

 

 

 

construction

 

development

 

assets

 

Total

 

for the year ended 30 June

 

Rm

 

Rm

 

Rm

 

Rm

 

Balance as at 30 June 2017

 

129 124

 

1 245

 

365

 

130 734

 

Additions

 

51 871

 

321

 

614

 

52 806

 

to sustain existing operations

 

18 889

 

238

 

 

19 127

 

to expand operations

 

32 982

 

83

 

614

 

33 679

 

Net reclassification from/(to) other assets

 

42

 

(33

)

 

9

 

Finance costs capitalised

 

3 568

 

 

 

3 568

 

Net impairment of assets under construction

 

(1 478

)

 

(312

)

(1 790

)

Reduction in rehabilitation provision capitalised (note 31)

 

(341

)

 

(131

)

(472

)

Projects capitalised

 

(25 315

)

(454

)

 

(25 769

)

Translation of foreign operations

 

7 464

 

46

 

(35

)

7 475

 

Disposals and scrapping

 

(1 152

)

 

(48

)

(1 200

)

 

 

 

 

 

 

 

 

 

 

Balance at 30 June 2018

 

163 783

 

1 125

 

453

 

165 361

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property

 

 

 

 

 

 

 

 

 

plant and

 

Other

 

Exploration

 

 

 

 

 

equipment

 

intangible

 

and

 

 

 

 

 

under

 

assets under

 

evaluation

 

 

 

 

 

construction

 

development

 

assets

 

Total

 

for the year ended 30 June

 

Rm

 

Rm

 

Rm

 

Rm

 

Balance as at 30 June 2016

 

102 185

 

1 470

 

356

 

104 011

 

Additions

 

59 771

 

313

 

228

 

60 312

 

to sustain existing operations

 

16 653

 

235

 

 

16 888

 

to expand operations

 

43 118

 

78

 

228

 

43 424

 

Net reclassification (to)/from other assets

 

(29

)

29

 

 

 

Finance costs capitalised

 

2 764

 

 

 

2 764

 

Net impairment of assets under construction

 

(728

)

(176

)

(189

)

(1 093

)

Reduction in rehabilitation provision capitalised (note 31)

 

(726

)

 

(27

)

(753

)

Projects capitalised

 

(23 433

)

(240

)

 

(23 673

)

Translation of foreign operations

 

(10 575

)

(151

)

(3

)

(10 729

)

Disposals and scrapping

 

(105

)

 

 

(105

)

 

 

 

 

 

 

 

 

 

 

Balance at 30 June 2017

 

129 124

 

1 245

 

365

 

130 734

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

for the year ended 30 June

 

Rm

 

Rm

 

Business segmentation

 

 

 

 

 

Mining

 

2 095

 

1 141

 

Exploration and Production International

 

6 457

 

6 256

 

Energy

 

5 993

 

9 064

 

Base Chemicals

 

75 099

 

59 908

 

Performance Chemicals

 

75 144

 

54 006

 

Group Functions

 

573

 

359

 

 

 

 

 

 

 

Total operations

 

165 361

 

130 734

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

2016

 

for the year ended at 30 June

 

Rm

 

Rm

 

Rm

 

Additions to assets under construction (cash flow)

 

 

 

 

 

 

 

Current year additions

 

52 806

 

60 312

 

70 849

 

Adjustments for non-cash items

 

(171

)

(420

)

(1 427

)

cash flow hedge accounting

 

1

 

(2

)

(2

)

movement in environmental provisions capitalised

 

(172

)

(418

)

(1 425

)

 

 

 

 

 

 

 

 

Per the statement of cash flows

 

52 635

 

59 892

 

69 422

 

 

 

 

 

 

 

 

 

 

Schedule of capital expenditure for assets under construction

 

 

 

2018

 

2017

 

 

 

Rm

 

Rm

 

Capital expenditure

 

 

 

 

 

Projects to sustain operations comprise of:

 

 

 

 

 

Secunda Synfuels Operations

 

8 608

 

8 453

 

Shutdown and major statutory maintenance

 

3 775

 

3 569

 

Renewals

 

1 481

 

1 002

 

Oxygen train 17 (Outside Battery Limits portion)

 

417

 

979

 

Sixth fine ash dam (environmental)

 

1 353

 

637

 

Volatile organic compounds abatement programme (environmental)

 

137

 

655

 

Coal tar filtration east project (safety)

 

294

 

419

 

Other environmental related expenditure

 

133

 

185

 

Other safey related expenditure

 

362

 

377

 

Other sustain

 

656

 

630

 

Mining (Secunda and Sasolburg)

 

3 720

 

2 831

 

Shondoni Colliery to maintain Middelbult Colliery operation

 

318

 

368

 

Impumelelo Colliery to maintain Brandspruit Colliery operation

 

258

 

274

 

Acquisition of mineral rights

 

650

 

 

Refurbishment of equipment

 

867

 

783

 

Mine geographical expansion

 

449

 

372

 

Other safety related expenditure

 

196

 

314

 

Other sustain

 

982

 

720

 

Other (in various locations)

 

6 797

 

5 602

 

Expenditure related to environmental obligations

 

476

 

174

 

Expenditure incurred relating to safety regulations

 

409

 

401

 

Other sustain

 

5 912

 

5 027

 

 

 

 

 

 

 

Capital expenditure cash flow

 

19 125

 

16 886

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

2017

 

 

 

 

 

 

 

Rm

 

Rm

 

Capital expenditure

 

 

 

 

 

 

 

 

 

Projects to expand operations comprise of:

 

Project location

 

Business segment

 

 

 

 

 

Lake Charles Chemicals Project*

 

United States

 

Base and Performance Chemicals

 

30 100

 

36 775

 

China Ethoxylation plant

 

China

 

Performance Chemicals

 

398

 

204

 

Canadian shale gas asset

 

Canada

 

Exploration and Production International

 

101

 

381

 

Fischer-Tropsch wax expansion project

 

Sasolburg

 

Performance Chemicals

 

109

 

606

 

High-density polyethylene plant

 

United States

 

Base Chemicals

 

265

 

1 448

 

Mozambique exploration and development

 

Mozambique

 

Exploration and Production International

 

1 002

 

1 840

 

Loop Line 2 project

 

Mozambique

 

Energy

 

16

 

638

 

Other projects to expand operations

 

Various

 

Various

 

1 519

 

1 114

 

 

 

 

 

 

 

 

 

 

 

Capital expenditure cash flow

 

 

 

 

 

33 510

 

43 006

 

 

 

 

 

 

 

 

 

 

 

 

 

*

At 30 June 2018 actual capital expenditure (accrual basis) - R30,1 billion (US$2,3 billion) (2017 - R36,8 billion (US$2,7 billion)).

Schedule of performance guarantees related to projects under construction

 

 

 

 

 

 

 

Maximum

 

 

 

 

 

 

 

 

 

guaranteed

 

Liability

 

 

 

 

 

 

 

amount

 

recognised

 

Project

 

Description

 

Guarantor

 

Rm

 

Rm

 

Lake Charles Chemicals Project

 

Completion guarantees and sureties issued in respect of the Lake Charles Chemicals Project. This includes a loan facility of US$3 995 million, of which US$3 995 million has been recognised.

 

Sasol Limited/ Sasol Financing

 

54 953

 

52 155