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Note 36 - Operating Segments
 12 Months Ended
Dec. 31, 2019
Statement Line Items [Line Items]  
Disclosure of entity's operating segments [text block]
36
Operating Segments
 
The Group's operating segments have been identified based on geographic areas. The strategic business units are managed separately because they require different technology and marketing strategies. For each of the strategic business units, the Group’s CEO reviews internal management reports on at least a quarterly basis. Zimbabwe and South Africa describe the operations of the Group's reportable segments. The Zimbabwe operating segment comprise Caledonia Holdings Zimbabwe Limited and subsidiaries. The South Africa geographical segment comprise a gold mine in
2018,
sold in
2019,
that was on care and maintenance, as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine. The holding company and Greenstone Management Services Holdings Limited (UK) responsible for administrative functions within the group are taken into consideration in the strategic decision-making process of the CEO and are therefore included in the disclosure below. Corporate and other reconciling amounts do
not
represent a separate segment. Information regarding the results of each reportable segment is included below. Performance is measured based on segment profit before income tax, as included in the internal management report that are reviewed by the Group's CEO. Segment profit is used to measure performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries.
 
 
Information about reportable segments 2019   Zimbabwe     South Africa     Inter-group elimination adjustments     Corporate and other reconciling amounts     Total  
                               
                               
Revenue    
75,826
      
15,973
      
(15,194
 )    
(779
 )    
75,826
  
Royalties    
(3,854
 )    
-
      
-
      
-
      
(3,854
 )
Production costs    
(36,278
 )    
(13,740
 )    
13,618
      
-
      
(36,400
 )
Depreciation    
(4,645
 )    
(90
 )    
350
      
(49
 )    
(4,434
 )
Management fee*    
(2,798
 )    
2,798
      
-
      
-
      
-
  
Other income    
2,016
      
258
      
-
      
-
      
2,274
  
Other expenses    
(498
 )    
(168
 )    
-
      
-
      
(666
 )
Administrative expenses    
(126
 )    
(1,736
 )    
-
      
(3,775
 )    
(5,637
 )
Cash-settled share-based expense    
(234
 )    
(166
 )    
-
      
(289
 )    
(689
 )
Net Foreign exchange gain    
29,634
      
9
      
-
      
18
      
29,661
  
Net finance cost    
(299
 )    
57
      
-
      
44
      
(198
 )
Profit on sale of subsidiary    
-
      
-
      
-
      
5,409
      
5,409
  
Gold hedge expense    
-
      
-
      
-
      
(601
 )    
(601
 )
Profit before tax    
58,744
      
3,195
      
(1,226
 )    
(22
 )    
60,691
  
Tax expense    
(9,529
 )    
(825
 )    
192
      
(128
 )    
(10,290
 )
Profit for the year    
49,215
      
2,370
      
(1,034
 )    
(150
 )    
50,401
  
 
 
Of the management fee
$627
was receivable and payable at year end (
2018:
$1,871
).
 
36
Operating Segments (continued)
 
Information about reportable segments 2019   Zimbabwe     South Africa     Inter-group elimination adjustments     Corporate and other reconciling amounts     Total  
                               
Geographic segment assets:
                                       
Current (excluding intercompany)    
21,608
      
3,383
      
(139
 )    
4,987
      
29,839
  
Non-current (excluding intercompany)    
115,611
      
315
      
(2,456
 )    
244
      
113,714
  
Expenditure on property, plant and equipment    
21,465
      
47
      
(1,165
 )    
248
      
20,595
  
Intercompany balances    
-
      
8,869
      
(52,783
 )    
43,914
      
-
  
                                         
Geographic segment liabilities
                                       
Current (excluding intercompany)    
(7,177
 )    
(1,546
 )    
-
      
(627
 )    
(9,350
 )
Non-current (excluding intercompany)    
(9,085
 )    
(17
 )    
140
      
(524
 )    
(9,486
 )
Intercompany balances    
(2,441
 )    
(32,558
 )    
52,783
      
(17,784
 )    
-
  
 
Information about reportable segments 2018   Zimbabwe     South Africa     Inter-group elimination adjustments     Corporate and other reconciling amounts     Total  
                               
                               
Revenue    
68,399
      
12,554
      
(12,166
 )    
(388
 )    
68,399
  
Royalties    
(3,426
 )    
-
      
-
      
-
      
(3,426
 )
Production costs    
(39,186
 )    
(11,328
 )    
11,199
      
-
      
(39,315
 )
Depreciation    
(4,366
 )    
(32
 )    
327
      
-
      
(4,071
 )
Management fee
*
    
(2,650
 )    
2,650
      
-
      
-
      
-
  
Other income    
6,482
      
366
      
-
      
253
      
7,101
  
Other expenses    
(296
 )    
-
      
-
      
(40
 )    
(336
 )
Administrative expenses    
(159
 )    
(2,433
 )    
-
      
(3,873
 )    
(6,465
 )
Cash-settled share-based expense    
(84
 )    
(137
 )    
-
      
(94
 )    
(315
 )
Equity-settled share-based expense    
-
      
-
      
-
      
(14
 )    
(14
 )
Net Foreign exchange gain/(loss)    
133
      
(327
 )    
-
      
417
      
223
  
Net finance cost    
(262
 )    
17
      
-
      
25
      
(220
 )
Gold hedge expense    
-
      
-
      
-
      
(360
 )    
(360
 )
Profit before tax    
24,585
      
1,330
      
(640
 )    
(4,074
 )    
21,201
  
Tax expense    
(7,085
 )    
(387
 )    
153
      
(126
 )    
(7,445
 )
Profit for the year    
17,500
      
943
      
(487
 )    
(4,200
 )    
13,756
  
 
 
 
 
 
Information about reportable segments 2018   Zimbabwe     South Africa     Inter-group elimination adjustments     Corporate and other reconciling amounts     Total  
                               
Geographic segment assets:
                                       
Current (excluding intercompany)    
21,505
      
3,489
      
(91
 )    
3,265
      
28,168
  
Non-current (excluding intercompany)    
98,700
      
466
      
(1,641
 )    
-
      
97,525
  
Expenditure on property, plant and equipment    
20,436
      
370
      
(891
 )    
-
      
19,915
  
Intercompany balances    
-
      
6,926
      
(46,240
 )    
39,314
      
-
  
Assets held for sale    
-
      
296
      
-
      
-
      
296
  
                                         
Geographic segment liabilities
                                       
Current (excluding intercompany)    
(10,445
 )    
(1,403
 )    
-
      
(350
 )    
(12,198
 )
Non-current (excluding intercompany)    
(33,043
 )    
(47
 )    
446
      
(2,043
 )    
(34,687
 )
Intercompany balances    
(1,345
 )    
(33,032
 )    
46,240
      
(11,863
 )    
-
  
Liabilities directly associated with assets held for sale    
 
      
(609
 )    
-
      
-
      
(609
 )
 
Information about reportable segments 2017   Zimbabwe     South Africa     Inter-group eliminations adjustments     Corporate and other reconciling amounts     Total  
                               
Revenue    
69,762
      
-
      
-
      
-
      
69,762
  
Inter-segmental revenue    
-
      
15,247
      
(15,061
 )    
(186
 )    
-
  
Royalties    
(3,498
 )    
-
      
-
      
-
      
(3,498
 )
Production costs    
(36,753
 )    
(14,751
 )    
15,324
      
-
      
(36,180
 )
Depreciation    
(4,019
 )    
(53
 )    
309
      
-
      
(3,763
 )
Management fee    
(3,960
 )    
3,960
      
-
      
-
      
-
  
Other income    
2,358
      
205
      
-
      
31
      
2,594
  
Other expenses    
-
      
(14
 )    
-
      
-
      
(14
 )
Impairment loss on trade receivables    
(181
 )    
-
      
-
      
-
      
(181
 )
Administrative expenses    
(40
 )    
(2,258
 )    
-
      
(3,613
 )    
(5,911
 )
Cash-settled share-based expense    
(581
 )    
-
      
-
      
(395
 )    
(976
 )
Equity-settled share-based expense    
(806
 )    
-
      
-
      
(29
 )    
(835
 )
Net foreign exchange (loss)/gain    
(375
 )    
207
      
-
      
(212
 )    
(380
 )
Net finance cost    
(69
 )    
10
      
-
      
28
      
(31
 )
Profit before tax    
21,838
      
2,553
      
572
      
(4,376
 )    
20,587
  
Tax expense    
(7,587
 )    
(1,104
 )    
-
      
-
      
(8,691
 )
Profit for the year    
14,251
      
1,449
      
572
      
(4,376
 )    
11,896
  
 
 
Major customer
Revenues from Fidelity in Zimbabwe amounted to
$75,826
(
2018:
$68,399;
2017:
$69,762
).