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OPERATING SEGMENTS | 12 Months Ended
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Jun. 30, 2025
Disclosure of operating segments [abstract] |
OPERATING SEGMENTS |
24 | OPERATING SEGMENTS
| ACCOUNTING POLICIES Operating segments are reported in a manner consistent with internal reports that the Group’s chief operating decision maker (“CODM”) reviews regularly in allocating resources and assessing performance of operating segments. The CODM has been identified as the Group’s Executive Committee. The Group has one material revenue stream, the sale of gold. To identify operating segments, management reviewed various factors, including operational structure and mining infrastructure. It was determined that an operating segment consists of a single or multiple metallurgical plants and reclamation sites that, together with its tailings storage facility, is capable of operating independently. When assessing profitability, the CODM considers, inter alia, the revenue and cash operating costs of each segment. The net of these amounts is the segment operating profit or loss. Therefore, segment operating profit has been disclosed as the primary measure of profit or loss. The CODM also considers the additions to property, plant and equipment.
The Group has one material revenue stream, the sale of gold to South African Bullion banks. The following summary describes the operations in the Group’s reportable operating segments: Ergo is a surface gold retreatment operation which treats old slime dams and sand dumps to the south of Johannesburg’s central business district as well as the East and Central Rand goldfields. The operation comprises three plants and a solar plant with a BESS. The Ergo plant operates as a metallurgical plant and the City Deep and Knights plants as pump/milling stations feeding the Ergo plant. FWGR is a surface gold retreatment operation which treats old slime dams in the West Rand goldfields. The operation comprises the Driefontein 2 plant and relevant infrastructure to process tailings from the Driefontein 5 and 3 slimes dam and deposit residues on the Driefontein 4 TSF. Corporate office and other reconciling items collectively referred to as "Other reconciling items") represent the items to reconcile to the consolidated financial statements. This does not represent a separate segment as it does not generate mining revenue.
24 | OPERATING SEGMENTS continued
|  | Ergo | FWGR | Other reconciling items | Total
| 2025
| Amounts in R million
| Revenue (External) | 5,671.5 | 2,206.7 | — | 7,878.2
| Cash operating costs | (3,699.2) | (673.5) | — | (4,372.7)
| Movement in gold in process and finished inventories - Gold Bullion | 9.8 | 8.3 | — | 18.1
| Segment operating profit | 1,982.1 | 1,541.5 | — | 3,523.6
| Additions to property, plant and equipment | (605.7) | (1,593.1) | (1.2) | (2,200.0)
| Reconciliation of segment operating profit to profit after tax |  |  |  |
| Segment operating profit | 1,982.1 | 1,541.5 | — | 3,523.6
| Depreciation | (326.5) | (130.2) | (2.5) | (459.2)
| Change in estimate of environmental rehabilitation recognised in profit or loss | 92.8 | — | 5.2 | 98.0
| Ongoing rehabilitation expenditure | (16.3) | (2.6) | (0.3) | (19.2)
| Care and maintenance | — | — | 0.8 | 0.8
| Other operating costs | (13.5) | — | — | (13.5)
| Administration expenses and other costs | (19.6) | (8.3) | (185.9) | (213.8)
| Finance income | 53.1 | 52.1 | 118.6 | 223.8
| Finance expense | (51.6) | (11.7) | (10.1) | (73.4)
| Deferred tax | (405.6) | (426.9) | 8.1 | (824.4)
| Profit after tax | 1,294.9 | 1,013.9 | (66.1) | 2,242.7
| Reconciliation of cost of sales to cash operating costs |  |  |  |
| Cost of sales 1 (a) | (3,952.9) | (798.0) | 3.2 | (4,747.7)
| Depreciation | 326.5 | 130.2 | 2.5 | 459.2
| Change in estimate of environmental rehabilitation recognised in profit or loss | (92.8) | — | (5.2) | (98.0)
| Movement in gold in process and finished inventories - Gold Bullion | (9.8) | (8.3) | — | (18.1)
| Ongoing rehabilitation expenditure | 16.3 | 2.6 | 0.3 | 19.2
| Care and maintenance | — | — | (0.8) | (0.8)
| Other operating costs | 13.5 | — | — | 13.5
| Cash operating costs | (3,699.2) | (673.5) | — | (4,372.7)
| 1 Included in cost of sales is R 138.9 million (FY2024: R 144.9 million; FY2023: R 107.8 million) paid for services rendered by Sibanye-Stillwater.
| (a) Most significant components of other operating costs within cost of sales include:
| Consumable stores | 1,151.4 | 224.6 | — | 1,376.0
| Labour including short term incentives | 625.9 | 121.3 | — | 747.2
| Electricity | 422.9 | 121.1 | — | 544.0
| Specialist service providers | 833.0 | 43.2 | — | 876.2
| Machine hire | 136.3 | 20.0 | — | 156.3
| Security expenses | 162.2 | 36.3 | — | 198.5
| Water | 41.3 | 3.8 | — | 45.1
24 | OPERATING SEGMENTS continued
|  | Ergo | FWGR | Other reconciling items | Total
| 2024
| Amounts in R million
| Revenue (External) | 4,524.9 | 1,714.8 | — | 6,239.7
| Cash operating costs | (3,571.0) | (622.3) | — | (4,193.3)
| Movement in gold in process and finished inventories - Gold Bullion | 37.5 | (2.6) | — | 34.9
| Segment operating profit | 991.4 | 1,089.9 | — | 2,081.3
| Additions to property, plant and equipment | (2,354.6) | (756.6) | (2.7) | (3,113.9)
| Reconciliation of segment operating profit to profit after tax |  |  |  |
| Segment operating profit | 991.4 | 1,089.9 | — | 2,081.3
| Depreciation | (138.7) | (129.5) | (2.2) | (270.4)
| Change in estimate of environmental rehabilitation recognised in profit or loss | 11.1 | 0.2 | 0.3 | 11.6
| Ongoing rehabilitation expenditure | (13.0) | (2.1) | (1.0) | (16.1)
| Care and maintenance | — | — | 2.5 | 2.5
| Other operating costs | 0.9 | — | — | 0.9
| Other income | 0.6 | 1.3 | 0.1 | 2.0
| Administration expenses and other costs | (10.6) | (5.5) | (183.2) | (199.3)
| Finance income | 51.8 | 53.9 | 175.1 | 280.8
| Finance expense | (60.9) | (11.7) | (3.8) | (76.4)
| Current tax | 5.4 | (92.5) | (12.6) | (99.7)
| Deferred tax | (205.1) | (183.7) | 0.3 | (388.5)
| Profit after tax | 632.9 | 720.3 | (24.5) | 1,328.7
| Reconciliation of cost of sales to cash operating costs |  |  |  |
| Cost of sales (a) | (3,673.2) | (756.3) | (0.4) | (4,429.9)
| Depreciation | 138.7 | 129.5 | 2.2 | 270.4
| Change in estimate of environmental rehabilitation recognised in profit or loss | (11.1) | (0.2) | (0.3) | (11.6)
| Movement in gold in process and finished inventories - Gold Bullion | (37.5) | 2.6 | — | (34.9)
| Ongoing rehabilitation expenditure | 13.0 | 2.1 | 1.0 | 16.1
| Care and maintenance | — | — | (2.5) | (2.5)
| Other operating costs | (0.9) | — | — | (0.9)
| Cash operating costs | (3,571.0) | (622.3) | — | (4,193.3)
| (a) Most significant components of other operating costs within cost of sales include:
| Consumable stores | 1,087.4 | 215.9 | — | 1,303.3
| Labour including short term incentives | 621.4 | 113.5 | — | 734.9
| Electricity | 472.7 | 113.4 | — | 586.1
| Specialist service providers | 812.1 | 39.6 | — | 851.7
| Machine hire | 173.2 | 25.2 | — | 198.4
| Security expenses | 137.8 | 29.4 | — | 167.2
| Water | 30.8 | 1.7 | — | 32.5
24 | OPERATING SEGMENTS continued
|  | Ergo | FWGR | Other reconciling items | Total
| 2023
| Amounts in R million
| Revenue (External) | 4,108.6 | 1,387.7 | — | 5,496.3
| Cash operating costs | (3,183.2) | (504.9) | — | (3,688.1)
| Movement in gold in process and finished inventories - Gold Bullion | (1.8) | 12.6 | — | 10.8
| Segment operating profit | 923.6 | 895.4 | — | 1,819.0
| Additions to property, plant and equipment | (816.0) | (209.8) | (5.1) | (1,030.9)
| Reconciliation of segment operating profit to profit after tax |  |  |  |
| Segment operating profit | 923.6 | 895.4 | — | 1,819.0
| Depreciation | (120.6) | (95.8) | (1.1) | (217.5)
| Change in estimate of environmental rehabilitation recognised in profit or loss | 6.2 | — | 0.9 | 7.1
| Ongoing rehabilitation expenditure | (24.7) | (1.7) | (0.4) | (26.8)
| Care and maintenance | — | — | (0.4) | (0.4)
| Other operating costs | 3.9 | — | — | 3.9
| Other income | 0.1 | 10.2 | 0.1 | 10.4
| Administration expenses and other costs | (8.3) | (2.9) | (161.7) | (172.9)
| Finance income | 34.4 | 31.8 | 268.1 | 334.3
| Finance expense | (58.7) | (9.7) | (2.3) | (70.7)
| Current tax | (51.1) | (201.9) | (33.3) | (286.3)
| Deferred tax | (73.8) | (47.9) | 3.0 | (118.7)
| Profit after tax | 631.0 | 577.5 | 72.9 | 1,281.4
| Reconciliation of cost of sales to cash operating costs |  |  |  |
| Cost of sales | (3,320.2) | (589.8) | (1.0) | (3,911.0)
| Depreciation | 120.6 | 95.8 | 1.1 | 217.5
| Change in estimate of environmental rehabilitation recognised in profit or loss | (6.2) | — | (0.9) | (7.1)
| Movement in gold in process and finished inventories - Gold Bullion | 1.8 | (12.6) | — | (10.8)
| Ongoing rehabilitation expenditure | 24.7 | 1.7 | 0.4 | 26.8
| Care and maintenance | — | — | 0.4 | 0.4
| Other operating costs | (3.9) | — | — | (3.9)
| Cash operating costs | (3,183.2) | (504.9) | — | (3,688.1)
| (a) Most significant components of other operating costs within cost of sales include:
| Consumable stores | 1,024.4 | 175.5 | — | 1,199.9
| Labour including short term incentives | 562.9 | 100.5 | — | 663.4
| Electricity | 466.8 | 77.6 | — | 544.4
| Specialist service providers | 594.0 | 39.9 | — | 633.9
| Machine hire | 138.9 | 13.4 | — | 152.3
| Security expenses | 128.0 | 25.6 | — | 153.6
| Water | 60.2 | 1.6 | — | 61.8

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