RELATED PARTY TRANSACTIONS
Far West Gold Recoveries Proprietary Limited (“FWGR”) entered into an agreement with Sibanye-Stillwater effective
31 July 2018 for the pumping and supply of water and electricity to the FWGR operations for which FWGR is invoiced based
on metered usage of water and electricity.
FWGR also entered into a smelting agreement with Sibanye-Stillwater effective 31 July 2018 to smelt and recover gold from
gold loaded carbon produced at FWGR, and deliver the gold to Rand Refinery for refinement. As consideration for this
service, Sibanye-Stillwater receives a fee based on the smelting costs plus 10% of the smelting costs.
Rand Refinery performs the final refinement and administration of the gold bars delivered and as consideration for this
service receives a variable refining fee and administration fee. Rand Refinery is a related party to the Group through the
Group's and Sibanye-Stillwater’s shareholding in Rand Refinery.
All transactions and outstanding balances with related parties are to be settled in cash within 30 days of the invoice date.
None of the balances are secured. No expense has been recognised in the current year as a credit loss allowance in respect
of amounts charged to related parties.