ARM Coal

Goedgevonden Coal Mine (GGV)

Management :		Governed by a management committee, controlled by ARM Coal, with four ARM representatives and three Xstrata representatives.
Reserves: (100% basis)		200 Mt (saleable reserves)
ARM’s economic interest:		26.01%
Total labour		538 Employees 471 Contractors

Operational statistics

(100% basis)		F2012	F2011	F12/11 %change
Total saleable production	Mt	6.4	5.9	8
Total sales	Mt	6.7	5.4	24
Export	Mt	3.0	2.7	11
Eskom	Mt	3.7	2.7	37
Average price received
Export (FOB)	US$/t	101.90	77.00	32
Eskom (FOR)	R/t	146.06	183.94	(21)
On mine saleable cost per tonne	R/t	199.80	165.85	20
Cash operating profits	R million	1 216	824	48
Operating margin	%	41	42	–
Capital expenditure	R million	506	326	55

Attributable profit analysis

		F2012	F2011	% change
Cash operating profit attributable to ARM		316	214	48
Less:	interest paid	(97)	(82)	(18)
	amortisation	(98)	(77)	(27)
	fair value adjustments	(11)	(17)	35
Profit before tax		110	38	189
Tax		(32)	(6)	>(200)
Headline earning attributable to ARM		78	32	144

Refer to note 2 for ARM Coal segmental information. (PDF - 70KB)