TRADE AND OTHER PAYABLES

12 Months Ended

Jun. 30, 2022

Trade and other payables [abstract]

Trade and other payables

16 TRADE AND OTHER PAYABLES

ACCOUNTING POLICIES

Trade and other payables, excluding Value Added Tax, payroll accruals, accrued leave pay and provision for performance based

incentives, are non-derivative financial liabilities categorised as financial liabilities measured at amortised cost.

These liabilities are initially measured at fair value plus directly attributable transaction costs. Subsequent to initial recognition,

they are measured at amortised cost using the effective interest method. The Group derecognises a financial liability when its

contractual rights are discharged, or cancelled or expire.

Short-term employee benefits are expensed as the related service is provided. A liability is recognised for the amount expected

to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the

employee and the obligation can be estimated reliably.

Amounts in R million

Note

2022

2021

Trade payables and accruals

429.1

352.9

Value Added Tax

0.2

4.5

Accrued leave pay

55.7

53.2

Accrual for short term performance based incentives

87.5

74.2

Payroll accruals

25.9

25.0

598.4

509.8

Interest relating to trade payables and accruals included in profit or loss

(1.8)

(1.8)

RELATED PARTY BALANCES

Trade payables and accruals include the following amounts payable to related parties:

Sibanye-Stillwater

25.8

12.0

Rand Refinery

-

0.6

LIQUIDITY RISK

Trade payables and accruals are all expected to be settled within 12 months from reporting date.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of trade payables and accruals approximate their carrying value due to their short-term maturities.