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Inventories | 12 Months Ended
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Jun. 30, 2019
Inventories |
Inventories | 23 Inventories
|  | 2019 |  | 2018 |
for the year ended 30 June |  | Rm |  | Rm |
Carrying value |  |  |  |  |
Crude oil and other raw materials |  | 3 938 |  | 4 308 |
Process material |  | 1 890 |  | 1 873 |
Maintenance materials |  | 5 940 |  | 5 156 |
Work in progress |  | 2 578 |  | 2 714 |
Manufactured products |  | 15 087 |  | 15 070 |
Consignment inventory |  | 213 |  | 243 |
|  | 29 646 |  | 29 364 |
Business segmentation |  |  |  |  |
 | Mining |  | 1 425 |  | 1 661 |
 | Exploration and Production International |  | 163 |  | 144 |
 | Energy |  | 7 826 |  | 7 680 |
 | Base Chemicals |  | 7 684 |  | 7 427 |
 | Performance Chemicals |  | 12 522 |  | 12 417 |
 | Group Functions |  | 26 |  | 35 |
Total operations |  | 29 646 |  | 29 364 |
The impact of higher crude oil feedstock prices and lower sales prices for certain chemical products resulted in a net realisable value write-down of R371 million in 2019 (2018 — R234 million). Inventory of R3 113 million (2018 — R1 348 million) is held at net realisable value. No inventories were encumbered at 30 June 2019, (2018 — R4 099 million). Accounting policies: Inventories are stated at the lower of cost and net realisable value. Cost includes expenditure incurred in acquiring, manufacturing and transporting the inventory to its present location. Manufacturing costs include an allocated portion of production overheads which are directly attributable to the cost of manufacturing such inventory. The allocation is determined based on the greater of normal production capacity and actual production. The costs attributable to any inefficiencies in the production process are charged to the income statement as incurred. By-products are incidental to the manufacturing processes, are usually produced as a consequence of the main product stream, and are immaterial to the group. Revenue from sale of by-products is offset against the cost of the main products.
Cost is determined as follows: |
Crude oil and other raw materials | First-in-first-out valuation method (FIFO)
Process, maintenance and other materials | Weighted average purchase price
Work-in-progress | Manufacturing costs incurred
Manufactured products including consignment inventory | Manufacturing costs according to FIFO

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- Definition The entire disclosure for inventories. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 2 -IssueDate 2018-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=2&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2018-03-16 + Details
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