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Goodwill and other intangibles (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure of reconciliation of changes in goodwill [abstract]  
Schedule of changes in goodwill and intangibles
Figures in million – SA randNotes202220212020
Goodwill
Balance at beginning of the year7,727 7,165 6,855 
Goodwill on acquisition of subsidiaries16.223 — — 
Foreign currency translation491 562 310 
Carrying value at end of the year8,241 7,727 7,165 
Other intangibles
Cost
Balance at beginning of the year— — — 
Intangible assets acquired on acquisition of subsidiaries16.283 — — 
Foreign currency translation3 — — 
Balance at end of the year86 — — 
Accumulated amortisation and impairment
Balance at beginning of the year— — — 
Charge for the year5 — — 
Balance at end of the year5 — — 
Carrying value at end of the year81 — — 
Total goodwill and other intangibles8,322 7,727 7,165 
Schedule of estimates and assumptions used in calculation of impairment of goodwill
The Group’s estimates and assumptions used in the 31 December 2022 impairment testing include:
Gold operations1
PGM operationsBattery metals
2022202120202022202120202022
Average gold price2,4
R/kg869,035 773,398 733,037 
Average PGM (4E) basket price3,4
R/4Eoz27,566 24,422 23,278 
Average PGM (2E) basket price4
US$/2Eoz1,334 1,180 1,202 
Average nickel price4
US$/lbs8.3
Average cobalt price4
US$/lbs22.1
Nominal discount rate — South Africa5,6
%
13.9- 15.8
11.5 - 13.5
9.7 - 13.6
22.5 - 22.6
20 
18.8 - 19.7
Nominal discount rate — US6
%12.9 8.3 8.8 
Nominal discount rate — Europe6
%9.8 
Inflation rate — South Africa2,7
%6.5 6.0 6.0 6.5 6.0 6.0 
Inflation rate — US7
%4.0 2.0 2.0 
Inflation rate — Europe7
%2.5 
Life-of-mine2,8
years
4 - 10
4 - 9
3 - 13
15 - 49
17 - 50
12 - 39
24
1 Include the operating gold mines Driefontein, Kloof and Beatrix
2 The estimates and assumptions used in the impairment assessment of the Burnstone project include an average gold price of R793,473/kg (2021: R729,270/kg, 2020: R733,037/kg), inflation rate of 6.5% (2021: 6%, 2020: 6%) and life-of-mine of 22 years (2021: 24 years, 2020: 21 years)
3 The average PGM basket price used on the Mimosa equity-accounted joint venture was R25,420/4Eoz (2021: R21,943/4Eoz, 2020: R21,080/4Eoz)
4 The average prices and the exchange rate were derived by considering various bank and commodity broker consensus forecasts
5 Nominal discount rate for the Burnstone project is 17.4% (2021: 15.3%, 2020: 16.8%) and for the equity-accounted joint venture Mimosa, 30.7% (2021: 24.4%, 2020: 28.4%)
6 The nominal discount rate is calculated as the weighted average cost of capital of the respective CGUs
7 The inflation rate is based on historical mining inflation, projected electricity and labour cost increases and the forecast inflation rate of each region
8 Periods longer than five years are considered appropriate based on the nature of the operations since a formally approved life-of-mine plan is used to determine cash flows over the life of each mine based on the available reserves