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CAPITAL MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure Of Additional Information [Abstract]  
Disclosure of Reconciliation Of Profit (Loss) Before Taxation To Adjusted EBITDA Gearing ratio (Adjusted Net debt to Adjusted EBITDA)
US Dollars
Figures in millions202220212020
Restated
Adjusted net debt from continuing operations
Borrowings - non-current portion (note 24)
1,965 1,858 1,789 
Lease liabilities - non-current portion (note 14)
102 124 116 
Borrowings - current portion (note 24)
18 51 142 
Lease liabilities - current portion (note 14)
84 61 37 
Total borrowings2,169 2,094 2,084 
Less: cash and cash equivalents (1) (note 22)
(1,106)(1,154)(1,330)
Net debt1,063 940 754 
Adjustments:
IFRS16 lease adjustments(158)(149)(106)
Unamortised portion of borrowing costs33 32 22 
Cash restricted for use (note 21)
(60)(58)(73)
Adjusted net debt878 765 597 
(1) Net of bank overdraft in 2022.
The Adjusted EBITDA calculation included in this note is based on the formula included in the agreements for compliance with the debt covenant formulas.
Adjusted EBITDA from continuing operations
Profit (loss) before taxation489 958 1,627 
Add back:
Finance costs and unwinding of obligations (note 6)
149 116 177 
Interest income(81)(58)(27)
Amortisation of tangible, intangible and right of use assets (note 4)
633 477 575 
Other amortisation(3)4 6 
Associates and joint ventures’ adjustments for amortisation, interest and taxation165 183 168 
EBITDA1,352 1,680 2,526 
Adjustments:
Foreign exchange and fair value adjustments128 43 — 
Dividend income— — (2)
Retrenchment and related costs6 20 2 
Care and maintenance costs (note 5)
— 45 — 
Impairment, derecognition of assets and (profit) loss on disposal304 (11)1 
Profit on disposal of joint ventures— — (19)
Premium on settlement of bonds— 24 — 
Loss (gain) on non-hedge derivatives and other commodity contracts6 — 5 
Associates and joint ventures’ share of costs1 — — 
Adjusted EBITDA (as defined in the agreements)1,797 1,801 2,513 
Gearing ratio (Adjusted net debt to Adjusted EBITDA)
0.49:1
0.42:1
0.24:1
Maximum debt covenant ratio allowed per agreement
3.5:1
3.5:1
3.5:1