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Note 38 - Operating Segments | 12 Months Ended
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Dec. 31, 2020
Statement Line Items [Line Items] |
Disclosure of entity's operating segments [text block] |
38 | 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 comprises Caledonia Holdings Zimbabwe (Private) Limited and subsidiaries and Caledonia Mining Services (Private) Limited. The South African geographical segment comprises a gold mine that is on care and maintenance (and now sold), as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine. The holding company (Caledonia Mining Corporation Plc) and Greenstone Management Services Holdings Limited (a UK company) 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. 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
For the twelve months ended December 31, 2020 |  |  | Zimbabwe |  |  |  | South Africa |  |  |  | Inter-group eliminations adjustments |  |  |  | Corporate and other reconciling amounts |  |  |  | Total |
Revenue |  |  | 100,002 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 100,002 |
Inter-segmental revenue |  |  | – |  |  |  | 23,214 |  |  |  | (23,214 | ) |  |  | – |  |  |  | – |
Royalty |  |  | (5,007 | ) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (5,007 | )
Production costs |  |  | (44,032 | ) |  |  | (20,318 | ) |  |  | 20,639 |  |  |  | – |  |  |  | (43,711 | )
Depreciation |  |  | (4,920 | ) |  |  | (91 | ) |  |  | 424 |  |  |  | (41 | ) |  |  | (4,628 | )
Other income |  |  | 4,751 |  |  |  | 14 |  |  |  | – |  |  |  | – |  |  |  | 4,765 |
Other expenses |  |  | (5,180 | ) |  |  | (114 | ) |  |  | – |  |  |  | (21 | ) |  |  | (5,315 | )
Administrative expenses |  |  | (156 | ) |  |  | (2,237 | ) |  |  | 10 |  |  |  | (5,614 | ) |  |  | (7,997 | )
Management fee |  |  | (2,492 | ) |  |  | 2,492 |  |  |  | – |  |  |  | – |  |  |  | – |
Cash-settled share-based expense |  |  | – |  |  |  | (114 | ) |  |  | 634 |  |  |  | (1,933 | ) |  |  | (1,413 | )
Net foreign exchange gain (loss) |  |  | 4,618 |  |  |  | 132 |  |  |  | (272 | ) |  |  | (173 | ) |  |  | 4,305 |
Fair value loss on derivative assets |  |  | – |  |  |  | (164 | ) |  |  | – |  |  |  | (102 | ) |  |  | (266 | )
Net finance cost |  |  | (352 | ) |  |  | 47 |  |  |  | – |  |  |  | – |  |  |  | (305 | )
Dividends (paid) received |  |  | (2,198 | ) |  |  | (1,355 | ) |  |  | – |  |  |  | 3,553 |  |  |  | – |
Profit before tax |  |  | 45,034 |  |  |  | 1,506 |  |  |  | (1,779 | ) |  |  | (4,331 | ) |  |  | 40,430 |
Tax expense |  |  | (14,446 | ) |  |  | (854 | ) |  |  | 380 |  |  |  | (253 | ) |  |  | (15,173 | )
Profit after tax |  |  | 30,588 |  |  |  | 652 |  |  |  | (1,399 | ) |  |  | (4,584 | ) |  |  | 25,257 |
As at December 31, 2020 |  |  | Zimbabwe |  |  |  | South Africa |  |  |  | Inter-group eliminations adjustments |  |  |  | Corporate and other reconciling amounts |  |  |  | Total |
Geographic segment assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current (excluding intercompany) |  |  | 27,070 |  |  |  | 5,320 |  |  |  | (194 | ) |  |  | 12,390 |  |  |  | 44,586 |
Non-Current (excluding intercompany) |  |  | 133,568 |  |  |  | 716 |  |  |  | (4,237 | ) |  |  | 3,287 |  |  |  | 133,334 |
Expenditure on property, plant and equipment (note 17) |  |  | 26,391 |  |  |  | 151 |  |  |  | (1,887 | ) |  |  | 123 |  |  |  | 24,778 |
Expenditure on evaluation and exploration assets (note 18) |  |  | 98 |  |  |  | – |  |  |  | – |  |  |  | 2,961 |  |  |  | 3,059 |
Intercompany balances |  |  | 17,482 |  |  |  | 6,752 |  |  |  | (69,144 | ) |  |  | 44,910 |  |  |  | – |
Geographic segment liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current (excluding intercompany) |  |  | (6,831 | ) |  |  | (1,797 | ) |  |  | – |  |  |  | (1,336 | ) |  |  | (9,964 | )
Non-current (excluding intercompany) |  |  | (8,065 | ) |  |  | – |  |  |  | 264 |  |  |  | (2,112 | ) |  |  | (9,913 | )
Intercompany balances |  |  | – |  |  |  | (34,020 | ) |  |  | 69,144 |  |  |  | (35,124 | ) |  |  | – |
For the twelve months ended December 31, 2019 |  |  | Zimbabwe |  |  |  | South Africa |  |  |  | Inter-group eliminations adjustments |  |  |  | Corporate and other reconciling amounts |  |  |  | Total |
Revenue |  |  | 75,826 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 75,826 |
Inter-segmental revenue |  |  | – |  |  |  | 15,973 |  |  |  | (15,194 | ) |  |  | (779 | ) |  |  | – |
Royalty |  |  | (3,854 | ) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (3,854 | )
Production costs |  |  | (36,278 | ) |  |  | (13,740 | ) |  |  | 13,618 |  |  |  | – |  |  |  | (36,400 | )
Depreciation |  |  | (4,645 | ) |  |  | (90 | ) |  |  | 350 |  |  |  | (49 | ) |  |  | (4,434 | )
Other income |  |  | 2,016 |  |  |  | 258 |  |  |  | – |  |  |  | – |  |  |  | 2,274 |
Other expenses |  |  | (498 | ) |  |  | (168 | ) |  |  | – |  |  |  | – |  |  |  | (666 | )
Administrative expenses |  |  | (126 | ) |  |  | (1,736 | ) |  |  | – |  |  |  | (3,775 | ) |  |  | (5,637 | )
Management fee |  |  | (2,798 | ) |  |  | 2,798 |  |  |  | – |  |  |  | – |  |  |  | – |
Cash-settled share-based expense |  |  | (234 | ) |  |  | (166 | ) |  |  | – |  |  |  | (289 | ) |  |  | (689 | )
Net foreign exchange gain |  |  | 29,634 |  |  |  | 9 |  |  |  | – |  |  |  | 18 |  |  |  | 29,661 |
Profit with sale of subsidiary |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 5,409 |  |  |  | 5,409 |
Fair value loss on derivative assets |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (601 | ) |  |  | (601 | )
Net finance cost |  |  | (299 | ) |  |  | 57 |  |  |  | – |  |  |  | 44 |  |  |  | (198 | )
Dividends received |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Profit before tax |  |  | 58,744 |  |  |  | 3,195 |  |  |  | (1,226 | ) |  |  | (22 | ) |  |  | 60,691 |
Tax expense |  |  | (9,529 | ) |  |  | (825 | ) |  |  | 192 |  |  |  | (128 | ) |  |  | (10,290 | )
Profit after tax |  |  | 49,215 |  |  |  | 2,370 |  |  |  | (1,034 | ) |  |  | (150 | ) |  |  | 50,401 |
As at December 31, 2019 |  |  | Zimbabwe |  |  |  | South Africa |  |  |  | Inter-group eliminations 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 (note 17) |  |  | 21,293 |  |  |  | 47 |  |  |  | (1,165 | ) |  |  | 248 |  |  |  | 20,423 |
Expenditure on evaluation and exploration assets (note 18) |  |  | 172 |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 172 |
Intercompany balances |  |  | – |  |  |  | 8,869 |  |  |  | (52,783 | ) |  |  | 43,914 |  |  |  | – |
Geographic segment liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current (excluding intercompany) |  |  | (7,177 | ) |  |  | (1,546 | ) |  |  | – |  |  |  | (1,156 | ) |  |  | (9,879 | )
Non-current (excluding intercompany) |  |  | (9,085 | ) |  |  | (17 | ) |  |  | 140 |  |  |  | 5 |  |  |  | (8,957 | )
Intercompany balances |  |  | (2,441 | ) |  |  | (32,558 | ) |  |  | 52,783 |  |  |  | (17,784 | ) |  |  | – |
Major customer Revenues from Fidelity amounted to $100,002 ( 2019: $75,826, 2018: $68,399 ) for the twelve months ended December 31, 2020.

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