Currently viewing: | 17.6 Detailed analysis of investments in subsidiaries | Next: 17.7 Non-controlling interests

CHAPTER 17:Subsidiaries

17.6

 

DETAILED ANALYSIS OF INVESTMENTS IN SUBSIDIARIES1

 
  
Portfolio changes in
2020
 
Type2  Date  Country3  Nature   
of   
business4 
DIRECT INVESTMENTS 
Aquicure Proprietary Limited  RSA    W   
Cennergi Proprietary Limited  A    1 Apr  RSA    H   
Clipeus Investment Holdings Proprietary Limited  RSA    H   
Colonna Properties Proprietary Limited  RSA    B   
Cullinan Refractories Proprietary Limited  S    30 Sept  RSA    B   
Exxaro Australia Holdings Proprietary Limited5  AUS    H   
Exxaro Base Metals and Industrial Minerals Holdings Proprietary Limited  RSA    H   
Exxaro Chairman's Fund  RSA    S   
Exxaro Coal Central Proprietary Limited  T    31 Dec  RSA    M   
Exxaro Coal Proprietary Limited  RSA    M   
Exxaro Employee Empowerment Participation Scheme Trust6  RSA    S   
Exxaro Employee Empowerment Trust6  RSA    S   
Exxaro Environmental Rehabilitation Fund  RSA    S   
Exxaro ESOP SPV RF Proprietary Limited7  N    27 Mar  RSA    S   
Exxaro FerroAlloys Proprietary Limited  RSA    A   
Exxaro Foundation  RSA    S   
Exxaro Holdings Proprietary Limited  RSA    H   
Exxaro Insurance Company Limited  RSA    I   
Exxaro Matla Setshabeng Development NPC7  N    11 May  RSA    S   
Exxaro Mountain Bike Academy NPC  RSA    E   
Exxaro People Development Initiative NPC  RSA    E   
Exxaro Properties (Groenkloof) Proprietary Limited6  RSA    B   
Exxaro Resources (Beijing) Commercial Company Limited  D    9 Sept  PRC    C   
Eyesizwe (RF) Proprietary Limited (2020: 14.86%; 2019: 24.86%)7  RSA    S   
Ferroland Grondtrust Proprietary Limited  RSA    F   
Gravelotte Iron Ore Company Proprietary Limited  RSA    B   
K2018621183 (SA) Proprietary Limited  RSA    C   
Kumba Resources Management Share Trust  RSA    S   
Rocsi Holdings Proprietary Limited  RSA    H   
Total direct investments in subsidiaries 
Investment in subsidiaries
Investment in shares Investment in
share-based payments
   2020
R
 
      2019 
R
 
2020 
R
2019 
R
DIRECT INVESTMENTS 
Aquicure Proprietary Limited     100        100 
Cennergi Proprietary Limited     2 437 330 415       
Clipeus Investment Holdings Proprietary Limited     1        1 
Colonna Properties Proprietary Limited     2 518 966        2 518 966 
Cullinan Refractories Proprietary Limited  1 000 
Exxaro Australia Holdings Proprietary Limited5     608 115 666        556 076 871 
Exxaro Base Metals and Industrial Minerals Holdings Proprietary Limited     1        1 
Exxaro Chairman's Fund 
Exxaro Coal Central Proprietary Limited  2 389 488 797 
Exxaro Coal Proprietary Limited     1 868 325 864        1 868 325 864  290     276 
Exxaro Employee Empowerment Participation Scheme Trust6 
Exxaro Employee Empowerment Trust6 
Exxaro Environmental Rehabilitation Fund 
Exxaro ESOP SPV RF Proprietary Limited7     100       
Exxaro FerroAlloys Proprietary Limited     1        1  5     5 
Exxaro Foundation 
Exxaro Holdings Proprietary Limited     459 517 297        459 517 297 
Exxaro Insurance Company Limited     312 000 000        312 000 000 
Exxaro Matla Setshabeng Development NPC7 
Exxaro Mountain Bike Academy NPC 
Exxaro People Development Initiative NPC 
Exxaro Properties (Groenkloof) Proprietary Limited6     1        1 
Exxaro Resources (Beijing) Commercial Company Limited  1 609 275 
Eyesizwe (RF) Proprietary Limited (2020: 14.86%; 2019: 24.86%)7     1 482 907 923        2 480 517 136 
Ferroland Grondtrust Proprietary Limited     2        2  5     5 
Gravelotte Iron Ore Company Proprietary Limited     1        1 
K2018621183 (SA) Proprietary Limited     100        100 
Kumba Resources Management Share Trust 
Rocsi Holdings Proprietary Limited     653 722 945        653 722 945 
Total direct investments in subsidiaries     7 824 439 383        8 723 778 358  300     286 
   Total indebtedness receivable/(payable)  
   Total indebtedness by  (Total indebtedness to)
Type of indebted ness  2020 
Rm
 
   2019 
Rm
 
2020 
Rm
 
   2019 
Rm
 
DIRECT INVESTMENTS 
Aquicure Proprietary Limited  Non-interest-bearing  35     31 
Cennergi Proprietary Limited 
Clipeus Investment Holdings Proprietary Limited  Non-interest-bearing  23    
Colonna Properties Proprietary Limited 
Cullinan Refractories Proprietary Limited 
Exxaro Australia Holdings Proprietary Limited5 
Exxaro Base Metals and Industrial Minerals Holdings Proprietary Limited  Non-interest-bearing  215     219 
Exxaro Chairman's Fund 
Exxaro Coal Central Proprietary Limited  Total  352     228  (182)    (949)
– Treasury facility  (182)    (949)
– Current indebtedness  352     228 
Exxaro Coal Proprietary Limited  Total  7 350     7 295  (7 217)    (4 499)
– Interest-bearing  7 150     7 060 
– Treasury facility  (7 217)    (4 499)
– Current indebtedness  200     235 
Exxaro Employee Empowerment Participation Scheme Trust6 
Exxaro Employee Empowerment Trust6 
Exxaro Environmental Rehabilitation Fund 
Exxaro ESOP SPV RF Proprietary Limited7  Interest-bearing  51    
Exxaro FerroAlloys Proprietary Limited  Total  186     133 
– Treasury facility  180     126 
– Current indebtedness  6     7 
Exxaro Foundation 
Exxaro Holdings Proprietary Limited  Non-interest-bearing  75     108 
Exxaro Insurance Company Limited  Current indebtedness  2     1 
Exxaro Matla Setshabeng Development NPC7  Interest-bearing  137    
Exxaro Mountain Bike Academy NPC  Non-interest-bearing 
Exxaro People Development Initiative NPC 
Exxaro Properties (Groenkloof) Proprietary Limited6  Non-interest-bearing  (1)    (1)
Exxaro Resources (Beijing) Commercial Company Limited 
Eyesizwe (RF) Proprietary Limited (2020: 14.86%; 2019: 24.86%)7 
Ferroland Grondtrust Proprietary Limited  Treasury facility  233     194 
Gravelotte Iron Ore Company Proprietary Limited 
K2018621183 (SA) Proprietary Limited  Non-interest-bearing  5     1 
Kumba Resources Management Share Trust  Non-interest-bearing  (70)    (68)
Rocsi Holdings Proprietary Limited  Non-interest-bearing  (1 612)    (1 394)
Total direct investments in subsidiaries  8 664     8 210  (9 082)    (6 911)

1 At 100% holding except where otherwise indicated.
2 A – Acquisition, D – Deregistered, N – Formation of new entity, L – Liquidated, S – Sold, T – Reclassified to non-current assets held-for-sale (refer chapter 8 for details of changes in portfolio).
3 Country of incorporation: RSA – Republic of South Africa, AUS – Australia, HK – Hong Kong, NE – Netherlands, PRC – Peoples– Republic of China, SW – Switzerland.
4 M – Mining, B – Property, C – Service, E – NPC, F – Farming, H – Holdings, I – Insuring, A – Manufacturing, P – Exploration, S – Structured entity, W – Water, MIC – Mines in closure, R – Renewable Energy.
5 Additional share capital was issued during 2020 and part of the loan was capitalised. The name was changed from Exxaro Australia Iron Holdings Proprietary Limited.
6 Entity in process of liquidation or deregistration.
7 Part of the investment in Eyesizwe (RF) Proprietary Limited has been sold to Exxaro ESOP SPV (5%) and Exxaro Community NPC (5%) (refer note 8.7).

            Investment in subsidiaries  
Portfolio changes
in 2020
 
      Investment in shares  Investment in
share-based payments
 
Type2  Date  Country3 Nature   
of   
business4 
2020 
R 
2019 
R 
2020 
Rm 
2019 
Rm 
INDIRECT INVESTMENTS 
Amakhala Emoyeni RF Proprietary Limited (95%) A    1 Apr  RSA    R   
Coastal Coal Proprietary Limited  RSA    MIC    3  3 
Dorstfontein Coal Mines Proprietary Limited (74%) T    31 Dec  RSA    M   
Exxaro Australia Proprietary Limited  AUS    M & P   
Exxaro Base Metals China Limited  L    30 Nov  HK    H   
Exxaro Base Metals International BV  NE    H   
Exxaro Coal Mpumalanga Proprietary Limited  RSA    M    264  274 
Exxaro International BV  NE    H   
Exxaro International Trading AG  SW    C    (1)
Exxaro Reductants Proprietary Limited  RSA    A   
Forzando Coal Mines Proprietary Limited (74%) T  31 Dec  RSA    M   
Ithemba Farm Proprietary Limited  T  31 Dec  RSA    F   
Matla and Arnot Rehabilitation Trust  RSA    S   
Mmakau Coal Proprietary Limited (49%) T  31 Dec  RSA    P   
Newcastle Coal Mines Proprietary Limited  T  31 Dec  RSA    MIC   
The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited  RSA    MIC   
Exxaro Employee Share Ownership Trust  N  27 Mar  RSA    S   
Jeka Mphamvu Proprietary Limited5  A  1 Apr  RSA    R   
Tsitsikamma RF Proprietary Limited  A  1 Apr  RSA    R   
Total indirect investment in subsidiaries  266  277 
Total investment in subsidiaries  7 824 439 383  8 723 778 358  566  563 
   Total indebtedness receivable/(payable)  
   Total indebtedness by  (Total indebtedness to)
Type of indebtedness  2020 
Rm
 
2019 
Rm
 
2020 
Rm
 
2019 
Rm
 
INDIRECT INVESTMENTS 
Amakhala Emoyeni RF Proprietary Limited (95%)
Coastal Coal Proprietary Limited  Treasury facility  66  41 
Dorstfontein Coal Mines Proprietary Limited (74%)
Exxaro Australia Proprietary Limited 
Exxaro Base Metals China Limited 
Exxaro Base Metals International BV 
Exxaro Coal Mpumalanga Proprietary Limited  Total  4 456  3 657 
– Treasury facility  4 378  3 513 
– Current indebtedness  79  144 
Exxaro International BV  Non-interest-bearing  (6 989) (6 989)
Exxaro International Trading AG 
Exxaro Reductants Proprietary Limited  Treasury facility  145 
Forzando Coal Mines Proprietary Limited (74%)
Ithemba Farm Proprietary Limited 
Matla and Arnot Rehabilitation Trust 
Mmakau Coal Proprietary Limited (49%)
Newcastle Coal Mines Proprietary Limited 
The Vryheid (Natal) Railway Coal and Iron Company Proprietary Limited  Treasury facility  30  19 
Exxaro Employee Share Ownership Trust 
Jeka Mphamvu Proprietary Limited5 
Tsitsikamma RF Proprietary Limited 
Total indirect investment in subsidiaries  4 553  3 862  (6 989) (6 989)
Total investment in subsidiaries  13 217  12 072  (16 071) (13 900)

1 At 100% holding except where otherwise indicated.
2 A – Acquisition, D – Deregistered, N – Formation of new entity, L – Liquidated, S – Sold, T – Reclassified to non-current assets held-for-sale (refer chapter 8 for details of changes in portfolio).
3 Country of incorporation: RSA – Republic of South Africa, AUS – Australia, HK – Hong Kong, NE – Netherlands, PRC – Peoples – Republic of China, SW – Switzerland.
4 M – Mining, B – Property, C – Service, E – NPC, F – Farming, H – Holdings, I – Insuring, A – Manufacturing, P – Exploration, S – Structured entity, W – Water, MIC – Mines in closure, R – Renewable Energy.
5 Entity is dormant.