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FINANCIAL RISK MANAGEMENT ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]  
Disclosure of Maturity Analysis for Non-derivative Financial Liabilities
The contractual maturities of financial liabilities, including interest payments, are as follows:

Financial liabilities
Within one yearBetween
one and two
years		Between
two and five years		After five yearsTotal
2021$ millionsEffective
rate %		$ millionsEffective
rate %		$ millionsEffective
rate %		$ millionsEffective
rate %		$ millions
Trade and other payables647 7 — — 654 
Borrowings119 115 332 2,169 2,735 
- In USD113 4.3 76 4.2 280 4.1 2,169 4.1 2,638 
- In AUD— 1.5 33 1.5 — — — — 33 
- TZS in USD equivalent6 12.5 6 12.5 52 12.5 — — 64 
2020
Trade and other payables627 8 — — 635 
Borrowings205 901 137 1,414 2,657 
- In USD158 5.0 901 5.0 137 4.6 1,414 4.6 2,610 
- TZS in USD equivalent47 12.5 — — — — — — 47 
2019
Trade and other payables586 15 — — 601 
Borrowings802 185 1,012 602 2,601 
- In USD790 5.8 132 6.0 913 6.1 602 6.5 2,437 
- AUD in USD equivalent— 2.3 — 2.3 22 2.3 — — 22 
- TZS in USD equivalent6 12.5 47 12.5 — — — — 53 
- ZAR in USD equivalent6 8.1 6 8.1 77 8.1 — — 89 

The table below provides a breakdown of the contractual maturities including interest payments of the lease liabilities.
Within one yearBetween one and two yearsBetween two and five yearsAfter five yearsTotal
2021$ millionsEffective rate %$ millionsEffective rate %$ millionsEffective rate %$ millionsEffective rate %$ millions
Lease liabilities68 50 74 10 202 
  - In USD32 2.3 19 2.3 13 2.3 — — 64 
  - AUD in USD equivalent24 4.6 23 4.6 51 4.6 10 4.6 108 
  - BRL in USD equivalent10 11.0 7 11.0 6 11.0 — — 23 
  - ZAR in USD equivalent2 5.9 1 5.9 4 5.9 — — 7 
2020
Lease liabilities42 31 68 19 160 
  - In USD10 6.1 4 6.1 6 6.1 — — 20 
  - AUD in USD equivalent22 4.7 21 4.7 58 4.7 19 4.7 120 
  - BRL in USD equivalent7 8.4 5 8.4 4 8.4 — — 16 
  - ZAR in USD equivalent3 9.8 1 9.8 — — — — 4 
2019
Lease liabilities51 33 54 56 194 
- In USD22 7.0 4 7.0 8 7.0 1 7.0 35 
- AUD in USD equivalent22 3.5 22 3.5 42 3.5 55 3.5 141 
- BRL in USD equivalent3 6.8 3 6.8 3 6.8 — — 9 
- ZAR in USD equivalent4 9.8 4 9.8 1 9.8 — — 9 
Disclosure of Credit Risk Exposure
The combined maximum credit risk exposure of the group is as follows:
US Dollars
Figures in millions202120202019
Other investments (1)
1 2 67 
Trade and other receivables87 95 57 
Cash restricted for use (note 21)58 73 64 
Cash and cash equivalents (note 22)1,154 1,330 456 
Total financial assets1,300 1,500 644 
(1) Included in other investments are amounts transferred to held for sale nil (2020 : nil; 2019: $63m).
Disclosure of Fair Value of Financial Instruments
The estimated fair value of the group’s other investments and borrowings as at 31 December are as follows:

Type of instrument
Carrying
amount		Fair
value		Carrying
amount		Fair
value		Carrying
amount		Fair
value
Figures in millions - US Dollars202120202019
Financial assets
Other investments (1)
117 117 188 188 170 170 
Financial liabilities
Borrowings (note 24)1,909 2,011 1,931 2,131 2,033 2,135 
(1) Included in other investments are amounts transferred to held for sale nil (2020: nil; 2019: $84m)
A reconciliation of the deferred compensation asset included in the statement of financial position is set out in the following table:
Figures in millions - US Dollars2021
Opening balance28 
Unwinding of the deferred compensation asset2 
Changes in estimates - fair value adjustments (1)
(3)
Translation(2)
Closing balance (2)
25 
(1) Included in the Income statement in foreign exchange and fair value adjustments
(2) Included in the Statement of financial position in non-current trade, other receivables and other assets    
Sensitivity analysis
The table below illustrates the impact on the fair value of the deferred compensation asset resulting from an increase / decrease in production estimates over the remaining period used in the weighted probability calculation.
Percentage
change in
number of
ounces		Change in
deferred
compensation
asset
$m
Effect of changes in assumptions
Increase in number of ounces+10%3 
Decrease in number of ounces-10%(3)
The sensitivity on the weighted number of ounces included within the weighted probability calculation has been based on the range of possible outcomes expected from Harmony’s mining plans, which could differ from the actual mining plans followed by Harmony.
Disclosure of Fair Value of Assets Measured on a Recurring Basis Assets measured at fair value on a recurring basis
Figures in millions - US DollarsLevel 1Level 2Level 3Total
2021
Equity securities - FVTOCI116 — — 116 
Deferred compensation asset— — 25 25 
2020
Deferred compensation asset— — 28 28 
Equity securities - FVTOCI186 — — 186 
2019
Equity securities - FVTOCI82— — 82
Equity securities - FVTPL21 — — 21 
Disclosure of Sensitivity Analysis on Other Financial Assets and Liabilities
The following table shows the approximate interest rate sensitivities of other financial assets and liabilities at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below). As the sensitivity is the same (linear) for both increases and decreases in interest rates only absolute numbers are presented. The expected impact on the Group's profit or loss and equity is fairly reflected within the "Change in interest" amount.
Change in interest
rate
basis points		Change in interest
amount
in currency
millions		Change in interest
amount
US dollar
millions
2021
Financial assets
USD denominated1003 3 
AUD denominated1501 1 
CAD denominated1004 5 
Financial liabilities
TZS denominated2502,692 1 
AUD denominated1501 1 
USD denominated1001 1 
Change in interest
rate
basis points		Change in interest
amount
in currency
millions		Change in interest
amount
US dollar
millions
2020
Financial assets
USD denominated1006 6 
AUD denominated1501 1 
ARS denominated250121 1 
Financial liabilities
TZS denominated2502,730 1 
USD denominated1001 1 
Change in interest
rate
basis points		Change in interest
amount
in currency
millions		Change in interest
amount
US dollar
millions
2019
Financial assets
USD denominated1001 1 
ZAR denominated1501 1 
Financial liabilities
TZS denominated2502,704 1 
ZAR denominated(1)
15015 1 
AUD denominated1001 1 

(1) This is the only interest rate for the Company
The following table discloses the approximate foreign exchange risk sensitivities of borrowings at 31 December (actual changes in the timing and amount of the following variables may differ from the assumed changes below).
Change in
exchange rate		Change in
borrowings
total		Change in
exchange rate		Change in
borrowings
total		Change in
exchange rate		Change in
borrowings
total
US$ MillionUS$ MillionUS$ Million
202120202019
Borrowings
ZAR denominated (R/$)
Spot (+R1.50)
— 
Spot (+R1.50)
— 
Spot (+R1.50)
(7)
TZS denominated (TZS/$)
Spot (+TZS250)
(5)
Spot (+TZS250)
(5)
Spot (+TZS250)
(5)
AUD denominated (AUD/$)
Spot (+AUD0.1)
(2)
Spot (+AUD0.1)
— 
Spot (+AUD0.1)
(1)
ZAR denominated (R/$)
Spot (-R(1.5))
— 
Spot (-R(1.5))
— 
Spot (-R(1.50))
9 
TZS denominated (TZS/$)
Spot (-TZS(250))
6 
Spot (-TZS(250))
6 
Spot (-TZS(250))
6
AUD denominated (AUD/$)
Spot (-AUD(0.1))
2 
Spot (-AUD(0.1))
— 
Spot (-AUD(0.1))
1