Annual Report and Accounts 2013
Petra Diamonds Limited 105
Overview
Performance Review
Strategic Review
Sustainability
Corporate Governance
Group Accounts
2. Segment information
continued
South Africa – mining activities
Tanzania
– mining
activities Botswana Jersey
Operating
segments
US$ million
Cullinan
2012
Finsch
2012
Koffiefontein
2012
Kimberley
Underground
2012
Fissure
Mines
2012
Williamson
2012
Exploration
2012
Corporate
administration
2012
Inter-
segment
2012
Consolidated
2012
Revenue
112.0 136.9
18.9
19.8
17.7
11.6
— — — 316.9
Segment
result
1
25.1
60.2
(6.7)
(6.1)
(10.7)
(9.1)
(3.1)
(13.7)
0.3
36.2
Other direct
income
4.2
1.2
0.7
3.1
(0.5)
3
0.3
— — — 9.0
Operating
profit/(loss)2
29.3
61.4
(6.0)
(3.0)
(11.2)
(8.8)
(3.1)
(13.7)
0.3
45.2
Other financial
income
19.1
Other financial
expense
(17.3)
Unrealised
foreign
exchange loss
(38.6)
Income tax
expense
(10.5)
Non-controlling
interest
(0.3)
Loss
attributable to
equity holders
of the parent
company
(2.4)
Segment
assets
379.1 234.4
49.6
89.3 110.3 108.1
13.7 1,154.1 (1,147.4)
991.2
Segment
liabilities
200.9 199.8
33.3 107.3 137.7 225.9
35.2 452.8 (1,066.7)
326.2
Capital
expenditure
54.4
12.0
11.5
21.0
16.9
3
20.7
3
0.5
0.3
— 137.3
1. Included in the segment result is total depreciation of US$41.0 million incurred at Cullinan US$14.4 million, Finsch US$14.2 million, Koffiefontein US$2.0 million, Kimberley Underground
US$5.2 million, Helam US$1.1 million, Sedibeng JV US$2.0 million, Star US$0.2 million, Williamson US$1.6 million, Exploration US$0.1 million and Corporate administration US$0.2 million.
2. Operating profit is equivalent to revenue of US$316.9 million less total costs of US$271.7 million as disclosed in the Consolidated Income Statement.
3. Capital expenditure at the Fissure Mines includes work in progress of US$11.1 million in respect of the manufacture of plant and equipment for other mines within the Group. Other direct
income in respect of the Fissure Mines includes US$38.4 million of revenue and US$39.3 million of costs in respect of the projects division at Helam for the manufacture of plant and
equipment for other mines within the Group. Capital expenditure at Williamson includes US$19.5 million of cash costs capitalised in respect of the plant rebuild and expansion programme.
The Group acquired Finsch effective 14 September 2011.
Segment assets and liabilities include inter-company receivables and payables which are eliminated on consolidation.
3. Acquisitions
30 June 2013
Acquisition of 49.24% of Nelesco 651 (Pty) Ltd
With effect from 1 January 2013, the transaction whereby the Group acquired a 49.24% interest in Nelesco 651 (Pty) Ltd
(“Nelesco”) completed. Nelesco owns 100% of the shares of Sedibeng Mining (Pty) Ltd (“Sedibeng Mining”).
Sedibeng Mining has direct and indirect interests in each of Petra’s South African operations. Sedibeng Mining has no investments
other than its interests in these mines. Petra consolidated the mines prior to the increase in its effective interest.
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