Showing records 1–50 of 248 total facts. Type above to filter across all records, or use pagination below.
| Element | Value | Unit | Period |
|---|---|---|---|
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Description Of Nature Of Financial Statements
cipc-ca-enum:DescriptionOfNatureOfFinancialStatements
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https://xbrl.cipc.co.za/taxonomy/ca/enum#AuditedAnnualFinancialStatementsAUDITED FINANCIAL STATEMENTS | — | 01 Jul 2022 – 30 Jun 2023 |
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Professional Designation Of Individual Responsible For Preparation Or Supervising Preparation Of Financial Statements
cipc-ca-enum:ProfessionalDesignationOfIndividualResponsibleForPreparationOrSupervisingPreparationOfFinancialStatements
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https://xbrl.cipc.co.za/taxonomy/ca/enum#AssociationOfCharteredCertifiedAccountantsSelect item from Tag Enumeration list. | — | 01 Jul 2022 – 30 Jun 2023 |
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Type Of Assurance
cipc-ca-enum:TypeOfAssurance
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https://xbrl.cipc.co.za/taxonomy/ca/enum#AuditedSelect item from Tag Enumeration list. | — | 01 Jul 2022 – 30 Jun 2023 |
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Type Of Auditors Opinion
cipc-ca-enum:TypeOfAuditorsOpinion
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https://xbrl.cipc.co.za/taxonomy/ca/enum#UnqualifiedSelect item from Tag Enumeration list. | — | 01 Jul 2022 – 30 Jun 2023 |
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Type Of Company
cipc-ca-enum:TypeOfCompany
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https://xbrl.cipc.co.za/taxonomy/ca/enum#DomesticPrivateCompanySelect item from Tag Enumeration list. | — | 01 Jul 2022 – 30 Jun 2023 |
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Annual Financial Statements Audited
cipc-ca:AnnualFinancialStatementsAudited
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Annual Financial Statements Independently Compiled And Reported On
cipc-ca:AnnualFinancialStatementsIndependentlyCompiledAndReportedOn
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falsefalse | — | 01 Jul 2022 – 30 Jun 2023 |
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Annual Financial Statements Internally Compiled
cipc-ca:AnnualFinancialStatementsInternallyCompiled
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Average Number Of Employees
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R 2,911.00 | pure | 30 Jun 2023 |
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Business Address City
cipc-ca:BusinessAddressCity
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Chislehurston | — | 01 Jul 2022 – 30 Jun 2023 |
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Business Address Country
cipc-ca:BusinessAddressCountry
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ZAF | — | 01 Jul 2022 – 30 Jun 2023 |
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Business Address Postal Code
cipc-ca:BusinessAddressPostalCode
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2,196.00 | — | 01 Jul 2022 – 30 Jun 2023 |
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Business Address Street Name
cipc-ca:BusinessAddressStreetName
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29 Impala Road | — | 01 Jul 2022 – 30 Jun 2023 |
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Customer Code
cipc-ca:CustomerCode
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VICDES | — | 01 Jul 2022 – 30 Jun 2023 |
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Date Of Approval Of Annual Financial Statements
cipc-ca:DateOfApprovalOfAnnualFinancialStatements
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— | 01 Jul 2022 – 30 Jun 2023 | |
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Date Of Audit Of Annual Financial Statements
cipc-ca:DateOfAuditOfAnnualFinancialStatements
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2023-11-1717 November 2023 | — | 01 Jul 2022 – 30 Jun 2023 |
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Date Of Publication Of Financial Statements
cipc-ca:DateOfPublicationOfFinancialStatements
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— | 01 Jul 2022 – 30 Jun 2023 | |
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Declaration Of Auditors Report Presence
cipc-ca:DeclarationOfAuditorsReportPresence
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Declaration Of Auditors Report Presence
cipc-ca:DeclarationOfAuditorsReportPresence
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Declaration Of Directors Report Presence
cipc-ca:DeclarationOfDirectorsReportPresence
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Declaration Of Signature By Authorised Director
cipc-ca:DeclarationOfSignatureByAuthorisedDirector
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truetrue | — | 01 Jul 2022 – 30 Jun 2023 |
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Directors Remuneration
cipc-ca:DirectorsRemuneration
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R 17,039,000.00 | ZAR | 01 Jul 2022 – 30 Jun 2023 |
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Directors Remuneration
cipc-ca:DirectorsRemuneration
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R 9,791,000.00 | ZAR | 01 Jul 2022 – 30 Jun 2023 |
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Directors Remuneration
cipc-ca:DirectorsRemuneration
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R 10,658,000.00 | ZAR | 01 Jul 2022 – 30 Jun 2023 |
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Directors Remuneration
cipc-ca:DirectorsRemuneration
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R 1,393,000.00 | ZAR | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Auditors Explanatory
cipc-ca:DisclosureOfAuditorsExplanatory
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External AuditorsErnst & Young Incorporated were the auditors in office during the current financial year. In accordance with Section 90 ofthe Companies Act No. 71 of 2008, KPMG has been appointed as external auditors for FY2024. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Auditors Opinion Explanatory
cipc-ca:DisclosureOfAuditorsOpinionExplanatory
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Independent Auditor's ReportTo the Shareholders of Two Rivers Platinum Proprietary LimitedReport on the Audit of the Financial StatementsOpinionWe have audited the financial statements of Two Rivers Platinum Proprietary Limited ('the Company') set out on pages9 to 40, which comprise the statement of financial position as at 30 June 2023 and the statement of profit or loss andother comprehensive income, statement of changes in equity and statement of cash flows for the year then ended,and notes to the financial statements, including material accounting policy information.In our opinion, the financial statements present fairly, in all material respects, the financial position of Two RiversPlatinum Proprietary Limited as at 30 June 2023, and its financial performance and cash flows for the year thenended in accordance with International Financial Reporting Standards and the requirements of the Companies Act ofSouth AfricaBasis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities underthose standards are further described in the Auditor's Responsibilities for the Audit of the financial statementssection of our report. We are independent of the company in accordance with the Independent Regulatory Boardfor Auditors' Code of Professional Conduct for Registered Auditors (IRBA Code) and other independencerequirements applicable to performing audits of financial statements of the company and in South Africa. We havefulfilled our other ethical responsibilities in accordance with the IRBA Code and in accordance with other ethicalrequirements applicable to performing audits of the company and in South Africa. The IRBA Code is consistentwith the corresponding sections of the International Ethics Standards Board for Accountants' International Codeof Ethics for Professional Accountants (including International Independence Standards). We believe that theaudit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Other InformationThe directors are responsible for the other information. The other information comprises the information includedin the 40-page document titled "Two Rivers Platinum Proprietary Limited Audited Financial Statements for theyear ended 30 June 2023", which includes the Directors' Report as required by the Companies Act of South Africa.The other information does not include the financial statements and our auditor's report thereon.Our opinion on the financial statements does not cover the other information and we do not express an auditopinion or any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the other information and, indoing so, consider whether the other information is materially inconsistent with the financial statements or ourknowledge obtained in the audit, or otherwise appears to be materially misstated. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Auditors Report Explanatory
cipc-ca:DisclosureOfAuditorsReportExplanatory
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Responsibilities of the Directors for Financial Statements | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Auditors Responsibility Explanatory
cipc-ca:DisclosureOfAuditorsResponsibilityExplanatory
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Auditor's Responsibilities for the Audit of the Financial StatementsOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frommaterial misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordancewith ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or errorand are considered material if, individually or in the aggregate, they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticismthroughout the audit. We also:•Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient andappropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,misrepresentations, or the override of internal control.•Obtain an understanding of internal control relevant to the audit in order to design audit procedures that areappropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of thecompany's internal control.•Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates andrelated disclosures made by the directors.•Conclude on the appropriateness of the directors' use of the going concern basis of accounting and based on theaudit evidence obtained, whether a material uncertainty exists related to events or conditions that may castsignificant doubt on the company's ability to continue as a going concern. If we conclude that a materialuncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in thefinancial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Company Results Explanatory
cipc-ca:DisclosureOfCompanyResultsExplanatory
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Financial statements and resultsThe annual financial statements for the year ended 30 June 2023 are hereby presented. They are set out on pages 9 to40, following this report. These financial statements have been prepared using appropriate accounting policies, conformto International Financial Reporting Standards, supported by reasonable and prudent judgements and estimates whererequired. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Directors Explanatory
cipc-ca:DisclosureOfDirectorsExplanatory
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Directorate and SecretaryThe following were the directors of the company at the date of this report: | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Directors Remuneration Explanatory
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DIRECTORS REMUNERATIONThe table below discloses the emoluments paid to directors2023BasicRetirementMedicalNon-cashOtherCashTotalSalaryFundBenefitsBenefitBenefitsBonusAnnual | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Directors Report Explanatory
cipc-ca:DisclosureOfDirectorsReportExplanatory
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DIRECTORS' REPORTFOR THE YEAR ENDED 30 JUNE 2023The directors present their annual report, which forms part of the annual financial statements of the company for the yearended 30 June 2023. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Directors Responsibility Explanatory
cipc-ca:DisclosureOfDirectorsResponsibilityExplanatory
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STATEMENT OF DIRECTORS' RESPONSIBILITYThe directors are required by the Companies Act No. 71 of 2008, as amended, to maintain adequate accounting recordsand are responsible for the content and integrity of the annual financial statements and the related financial informationincluded in this report. The annual financial statements are based upon appropriate accounting policies consistentlyapplied throughout the company and supported by reasonable and prudent judgements and estimates. The directors aresatisfied that the annual financial statements of the company fairly present the results of the operation and its cash flowsfor the year ended 30 June 2023 and the financial position as at 30 June 2023.The directors acknowledge that they are ultimately responsible for the system of internal financial control established bythe company and place considerable importance on maintaining a strong control environment. To enable the directors tomeet these responsibilities, the board sets standards for internal control aimed at reducing the risk of error or loss in acost-effective manner. The standards include the proper delegation of responsibilities within a clearly definedframework, effective accounting procedures and adequate segregation of duties to ensure an acceptable level of risk.These controls are monitored throughout the company and all employees are required to maintain the highest ethicalstandards in ensuring the company's business is conducted in a manner that in all reasonable circumstances is abovereproach.The focus of risk management in the company is on identifying, assessing, managing and monitoring all known risksacross the company. While operating risks cannot be fully eliminated, the company endeavours to minimise it byensuring that appropriate infrastructure, controls, systems and ethical behaviour are applied and managed withinpredetermined procedures and constraints.The directors are of the opinion, based on the information and explanations given by management and the externalauditors, that the system of internal control provides reasonable assurance that the financial records may be relied on forthe preparation of the annual financial statements. However, any system of internal financial control can provide onlyreasonable, and not absolute, assurance against material misstatements or loss. The going-concern basis has beenadopted in preparing the financial statements. Based on the forecasts and available cash resources the directors aresatisfied that the company has access to adequate resources to continue as a going concern for the foreseeable future.The financial statements support the viability of the company.The financial statements have been audited by the external auditing firm, Ernst & Young Incorporated, who have beengiven unrestricted access to all financial records and related data, including minutes of all meetings of shareholders, theboard of directors and committees of the board. The directors believe that all representations made to the externalauditors during the audit were valid and appropriate. The external auditors' unqualified report is presented on pages 4-6.The annual financial statements which appear on pages 9 - 40 were approved by the Board of Directors on and are signed on its behalf by: | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Dividend Declaration Explanatory
cipc-ca:DisclosureOfDividendDeclarationExplanatory
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DividendsDividends of R900 000 000 (2022: R2 305 000 000) were declared and paid during the year. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Domicile Country Of Incorporation And Registered Office Explanatory
cipc-ca:DisclosureOfDomicileCountryOfIncorporationAndRegisteredOfficeExplanatory
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AddressRegistered officeARM House29 Impala RoadChislehurston2196 | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Events After Reporting Date Explanatory
cipc-ca:DisclosureOfEventsAfterReportingDateExplanatory
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Events subsequent to the year endThere have been no facts or circumstances of a material nature that have occurred between the year-end date and the | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Going Concern Specific To Directors Report Explanatory
cipc-ca:DisclosureOfGoingConcernSpecificToDirectorsReportExplanatory
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Going concernDuring the year ended 30 June 2023, the company made a net profit of R2 330 695 000 (2022: R3 643 616 000) andits current assets exceeded its current liabilities by R3 132 947 000 (2022: R4 288 071 000). TRP is expected to be ableto pay its debts as they become due in the ordinary course of business for a period of 12 months after the balance sheetdate, 30 June 2023, on which the test is considered. The going concern basis has been adopted in preparing thefinancial statements. This basis presumes that funds will be available to finance future operations and that the realisationof assets and settlement of liabilities, contingent obligations and commitments will occur in the ordinary course ofbusiness as supported by the latest forecast. The directors are satisfied that the company has access to adequateresources to continue as a going concern for the foreseeable future. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Holding Company And Ultimate Holding Company Explanatory
cipc-ca:DisclosureOfHoldingCompanyAndUltimateHoldingCompanyExplanatory
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African Rainbow Minerals Limited (54%) and Impala | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Nature Of Business Explanatory
cipc-ca:DisclosureOfNatureOfBusinessExplanatory
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Business activities and operationsTwo Rivers Platinum Proprietary Limited (TRP) is jointly owned by African Rainbow Minerals Limited (54%) and ImpalaPlatinum Holdings Limited (46%). The mining area, situated on the farms Dwarsrivier 372 KT, Kalkfontein 367 KT,Tweefontein 360 KT and Buffelshoek 368 KT, is located in the southern part of the Eastern Limb of the Bushveld IgneousComplex, and has a platinum to palladium ratio of 5:3 (2022: 5:3) that compares favourably to the Western Limb.TRP produced 295 441 6E ounces (2022: 301 935 6E ounces) of Platinum Group Metals (PGMs) during the current year.The joint venture partners have contracted African Rainbow Minerals Limited to manage the operation, while ImpalaPlatinum Holdings Limited performs the processing and refining through its subsidiary Impala Platinum Limited. TRP iscurrently executing the Merensky mine development project, with an estimated capital investment of R7.2 billion. Theestimated date for commissioning of the Merensky Plant will be in quarter four of FY2024. For the current UG2 reef theplatinum, palladium to rhodium ratio is 5:3:1.The TRP UG2 ore-body dips at an average of seven to twelve degrees with an average stoping width of 2.43 meters. Themining method is trackless bord and pillar. Ore is mined from two decline systems, the Main and North declines whichproduce on average 184 806 and 101 774 run of mine (ROM) tonnes per month, respectively. The ore is transported tosurface via conveyor belts, to be crushed and transported to the concentrator plant via overland conveyor, where it istreated in the mill float concentrator, tertiary milling and tailings scavenger plants, respectively. The forecast life of themine is 23 years (2022: 23 years). | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Shareholder Spread Explanatory
cipc-ca:DisclosureOfShareholderSpreadExplanatory
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ShareholdersTwo Rivers Platinum Proprietary Limited is owned 54% (2022: 54%) by African Rainbow Minerals Limited (ARM) and46% (2022: 46%) by Impala Platinum Holdings Limited (Impala). The operation is managed by ARM. | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Social And Ethics Committee Explanatory
cipc-ca:DisclosureOfSocialAndEthicsCommitteeExplanatory
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true | — | 01 Jul 2022 – 30 Jun 2023 |
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Disclosure Of Stated Capital Explanatory
cipc-ca:DisclosureOfStatedCapitalExplanatory
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Share capitalThe authorised share capital of the company remains unchanged. | — | 01 Jul 2022 – 30 Jun 2023 |
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Email Address Of Company
cipc-ca:EmailAddressOfCompany
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florence.nkomo@arm.co.za | — | 01 Jul 2022 – 30 Jun 2023 |
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Full Registered Name Of Company
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TWO RIVERS PLATINUM PROPRIETARY LIMITED | — | 01 Jul 2022 – 30 Jun 2023 |
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Maximum Number Of Individuals With Beneficial Interest In Securities Of Company Or Members In Case Of Non Profit Company
cipc-ca:MaximumNumberOfIndividualsWithBeneficialInterestInSecuritiesOfCompanyOrMembersInCaseOfNonProfitCompany
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R 2.00 | pure | 30 Jun 2023 |
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Name Of Auditing Company
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Ernst & Young Inc. | — | 01 Jul 2022 – 30 Jun 2023 |
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Name Of Auditor
cipc-ca:NameOfAuditor
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Ashleigh van der Ploeg der | — | 01 Jul 2022 – 30 Jun 2023 |
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Name Of Designated Person Responsible For Compliance
cipc-ca:NameOfDesignatedPersonResponsibleForCompliance
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Florence Nkomo | — | 01 Jul 2022 – 30 Jun 2023 |
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Name Of Director Authorised To Approve Annual Financial Statements
cipc-ca:NameOfDirectorAuthorisedToApproveAnnualFinancialStatements
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VP TOBIAS | — | 01 Jul 2022 – 30 Jun 2023 |