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UNAUDITED INTERIM CONDENSED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities          
Profit before income taxes $ 9,083 $ 26,512 $ 10,356 $ 66,436 $ 1,904
Adjustments for:          
Depreciation and amortization 11,721 11,950 51,529 52,321 55,433
Net foreign exchange losses/(gains) 672 253 453 (401) 1,647
Finance income (4)   (6) (3) (9)
Finance costs 153 169 930 530 793
Movement in provisions (1,767) (1,477) 1,112 1,746 1,473
Other non-cash (547) (217) (1,568) 1,507 (64)
Adjustments 19,311 37,190 62,806 122,136  
Decrease/(increase) in trade receivables from related parties 9,052 (1,442) (6,501) 6,310 351
Decrease in other receivables 1,532 2,014 567 (961) (1,922)
Decrease in prepaid expenses 1,404 5,550 5,943 (8,217) (1,204)
Decrease/(increase) in inventories 1,644 (809) 1,892 (8,131) (2,035)
Increase in trade payables to related parties 921 187 147 652 (481)
Decrease in trade payables (1,676) (41) 1,141 826 2,968
Decrease in other payables (77) (855) (1,895) (4,808) (6,191)
Cash generated by operations 32,111 41,794 64,100 107,807 52,663
Income taxes paid by related party (1,370) (10,220) (8,629) [1] (19,461) [1],[2] (7,908) [2]
Interest received 4   6 3 9
Interest paid (117) (125) (930) (530) (793)
Net cash generated by operating activities 30,628 31,448 54,547 87,819 43,971
Investing activities          
Purchase of property, plant, and equipment and intangibles (22,035) (19,392) (66,273) (32,068) (55,763)
Net cash used in investing activities (22,035) (19,392) (66,273) (32,068) (55,763)
Financing activities          
Payment of lease liabilities (346) (316) (1,275) (781) (2,718)
Transfers to Parent (9,027) (11,049) 14,275 (55,158) 14,310
Net cash used in financing activities (9,373) (11,365) 13,000 (55,939) 11,592
(Decrease)/increase in cash and cash equivalents (780) 691 1,274 (188) (200)
Cash and cash equivalents at the beginning of the period 1,316 79 79 110 264
Net foreign exchange difference (130) 54 (37) 157 46
Cash and cash equivalents at the end of the period $ 406 $ 824 $ 1,316 $ 79 $ 110
[1] The Company is part of a tax consolidated group under Australian taxation law, of which Glencore Investment Pty Limited (“Glencore Investment”), a related party of the Company, is the head entity. Tax payments from companies within the Glencore Investment tax consolidated group are made by Glencore Investment in accordance with the tax sharing and tax funding agreements entered into by those entities and settled through intercompany loans via parent net investment (see notes 2.15 and 22).
[2] The Company is part of a tax consolidated group under Australian taxation law, of which Glencore Investment Pty Limited (“Glencore Investment”), a related party of the Company, is the head entity. Tax payments from companies within the Glencore Investment tax consolidated group are made by Glencore Investment in accordance with the tax sharing and tax funding agreements entered into by those entities and settled through intercompany loans via parent net investment (see notes 2.16 and 22).