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Interest in joint operations | 12 Months Ended
--- | ---
Jun. 30, 2024
Interest in joint operations |
Interest in joint operations |
19 | Interest in joint operations
At 30 June, the Group’s interest in material joint operations were: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  |  |  | % of equity owned
​ | ​ | ​ | ​ | ​ | ​ | 2024 | ​ | 2023
Name |  | Country of incorporation |  | Nature of activities |  | % |  | %
Louisiana Integrated Polyethylene JV LLC (LIP JV) | ​ | United States of America | ​ | Manufactures ethylene and polyethylene chemicals. The joint operation with LyondellBasell operates as a tolling arrangement. Sasol retains control of our portion of the goods during the toll processing, for which a fee is paid, and only recognises revenue when the finished goods are transferred to a final customer. Equistar, a subsidiary of LyondellBasell, acts as an independent agent, for a fee, to exclusively market and sell all of Sasol’s Linear low-density polyethylene and Low-density polyethylene produced by the joint operation to customers. | ​ | 50 | ​ | 50
National Petroleum Refiners of South Africa (Pty) Ltd (Natref) |  | South Africa |  | Inland refinery that uses crude oil to produce liquid fuels. Natref is a joint venture between Sasol and TotalEnergies. |  | 64 |  | 64
​
19 | Interest in joint operations continued
The information provided is Sasol’s share of joint operations (excluding unincorporated joint operations) and includes intercompany transactions and balances. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  |  |  | Total | ​ | Total
​ |  | LIP JV |  | Natref |  | 2024 | ​ | 2023
for the year ended 30 June |  | Rm |  | Rm |  | Rm |  | Rm
Statement of financial position | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External non-current assets1 | ​ | 26 495 | ​ | — | ​ | 26 495 | ​ | 39 036
External current assets | ​ | 1 281 | ​ | 561 | ​ | 1 842 | ​ | 1 537
Intercompany current assets | ​ | 101 | ​ | 3 | ​ | 104 | ​ | 189
Total assets | ​ | 27 877 | ​ | 564 | ​ | 28 441 | ​ | 40 762
Shareholders’ equity | ​ | 26 705 | ​ | (4 032) | ​ | 22 673 | ​ | 35 786
Long-term liabilities | ​ | 29 | ​ | 3 053 | ​ | 3 082 | ​ | 2 743
Interest-bearing current liabilities | ​ | 3 | ​ | 87 | ​ | 90 | ​ | 180
Non-interest-bearing current liabilities | ​ | 832 | ​ | 1 026 | ​ | 1 858 | ​ | 1 488
Intercompany current liabilities | ​ | 308 | ​ | 430 | ​ | 738 | ​ | 565
Total equity and liabilities | ​ | 27 877 | ​ | 564 | ​ | 28 441 | ​ | 40 762
1Refer to note 8 for the impairment of the Chemicals America Ethane value chain and associated shared assets. At 30 June 2024, the Group’s share of the total capital commitments of joint operations amounted to R1 383 million (2023 – R1 155 million). Accounting policies: The Group recognises its share of any jointly held or incurred assets, liabilities, revenues and expenses along with the Group’s income from the sale of its share of the output and any liabilities and expenses that the Group has incurred in relation to the joint operation. These have been incorporated in the financial statements under the appropriate headings.

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- Definition The disclosure of interests in joint arrangements. A joint arrangement is an arrangement of which two or more parties have joint control. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2023-01-01 -Paragraph 2 -Subparagraph b -Clause ii -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_2_b_ii&doctype=Standard -URIDate 2023-03-23 + Details
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