Registered number: 03734784
ANGLO AMERICAN HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
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ANGLO AMERICAN HOLDINGS LIMITED
COMPANY INFORMATION
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Anglo American Corporate Secretary Limited
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PricewaterhouseCoopers LLP
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ANGLO AMERICAN HOLDINGS LIMITED
CONTENTS
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Independent auditors' report
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Statement of comprehensive income
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Statement of changes in equity
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Notes to the financial statements
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ANGLO AMERICAN HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Anglo American Holdings Limited (the “Company”) is an investment holding company, which holds investments in Jersey, Mauritius, Ireland, Bermuda and Colombia. The future performance depends on the trading results of its principal subsidiaries.
As shown in the Company’s Statement of comprehensive income, the Company has a profit after tax for the year of $87,138,000 compared to a profit of $436,934,000 in the prior year.
The balance sheet shows that the Company is in a net asset position of $6,159,539,000 (2021 - $6,179,000,000).
Principal risks and uncertainties and financial risk management policies
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The directors consider the risks attached to the Company’s financial instruments which principally comprise loans to other group companies. The directors have taken a prudent approach in their consideration of the risks attached to the financial instruments of the Company. The Company’s exposure to price risk, credit risk, liquidity risk and cash flow risk is not material for the assessment of assets, liabilities and the financial statements. Credit risk is not considered to be material on the basis that the Company's debtor balances are due from other companies within the Anglo American Group and those companies are considered to have sufficient liquidity or financial support to be able to settle amounts owed to the Company.
Key performance indicators
Due to the nature of the Company as an investment holding company, there are no key performance indicators reviewed by management or the directors when assessing the performance or position of the Company.
Section 172(1) statement
The Anglo American Holdings Limited Board is cognisant of its legal duty to act in good faith and to promote the success of the Company for the benefit of its shareholders and with regard to the interests of stakeholders and other factors. These include the likely consequences of any decisions we make in the long term; the need to foster the relationships we have with all our stakeholders; the impact our operations have on the environment and local communities; and the desire to maintain a reputation for high standards of business conduct.
The Board received an update on the Companies (Miscellaneous Reporting) Regulations 2018 amongst other things.
Stakeholder considerations are integral to discussions at Board meetings and the decisions we make take into account any potential impacts on them and the environment. Like any business, we are aware that some of the decisions we make may have an adverse impact on certain stakeholders.
By listening to, understanding and engaging with our stakeholders, the Board endeavours to live up to their expectations, by staying true to the Purpose and making decisions in accordance with our Values
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ANGLO AMERICAN HOLDINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The Board recognises the role of the Company's business in society and within the Anglo American Group. The Group’s purpose is summarised as ‘to re-imagine mining to improve people’s lives’, and the Company is focused on contributing to the achievement of this purpose.
The Group’s Values: Safety; Care and Respect; Integrity; Accountability; Collaboration; and Innovation guide our behaviour and shape our culture, and are fundamental to creating enduring benefit for all our employees, shareholders, and stakeholders in a way that demonstrably improves people’s lives.
Engaging our stakeholders
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Healthy stakeholder relationships help us to better communicate how our business decisions, activities and performance are likely to affect or be of significant interest to our stakeholders, and provide the opportunity to co-create effective and lasting solutions to business and other challenges.
The Company’s stakeholders include our host communities, governments, industry peers and broader civil society in addition to our shareholders.
Long Term Decision Making
The Board took a range of factors and stakeholder considerations into account when making decisions in the year. Decisions are made within the context of the long term factors that may impact the Company and its stakeholders.
This report was approved by the board on 18 May 2023 and signed by its order.
J Callaway
For and on behalf of
Anglo American Corporate Secretary Limited
Secretary
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ANGLO AMERICAN HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The directors present their report and the financial statements for the year ended 31 December 2022.
Statement of directors’ responsibilities in respect of the financial statements
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The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 “Reduced Disclosure Framework”, and applicable law).
Under company law, directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
They directors are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006.
Directors’ confirmations
In the case of each director in office at the date the directors’ report is approved:
• so far as the director is aware, there is no relevant audit information of which the Company’s auditors are unaware; and
• they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the Company’s auditors are aware of that information.
The Company is an investment holding company, which holds investments in subsidiaries incorporated in Jersey, Bermuda, Mauritius, Ireland and Columbia. Future performance depends largely on the trading results of its subsidiaries which the directors believe to be satisfactory. The Company also pays a fixed dividend on its 8% preference shares and 8.3% preference shares. There have not been any significant changes in the Company’s principal activities in the year under review.
The profit for the year, after taxation, amounted to $87,138,000 (2021 - profit of $436,934,000).
The directors do not recommend payment of a final dividend for the year.
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ANGLO AMERICAN HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The directors who served during the year and up to the date of signing the financial statements were:
Principal risks and uncertainties and financial risk management policies
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The financial risk management policies of the Company are disclosed in the Strategic Report.
The directors are not aware, at the date of this report, of any likely major changes in the Company’s activities in the next year.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The Company’s ability to operate as a going concern is assessed in conjunction with Anglo American plc and its subsidiaries (together the “Group”) as it is dependent upon the ability of the Group companies to settle their intercompany balances with the Company and to provide funds for working capital and other needs. The Company’s cash flow forecasts for the period to the end of June 2023, with considerations given to the uncertainty of the impact of Covid-19 pandemic on the wider macroeconomic environment and trading performance of the Group, show that the Company maintains sufficient liquidity throughout the period of assessment without the use of mitigating actions.
The directors have also received a commitment of financial support from Anglo American Services (UK) Ltd. for use to the extent that it is necessary, including but not limited to, not seeking repayment of amounts advanced to the Company by the Group unless alternative financing has been secured by the Company. This support will remain in place for the foreseeable future, including the period of at least 12 months from authorisation of the Company’s financial statements.
Post balance sheet events
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There have been no significant events affecting the Company since the year end.
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ANGLO AMERICAN HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
This report was approved by the board on 18 May 2023 and signed by its order.
J Callaway
For and on behalf of
Anglo American Corporate Secretary Limited
Secretary
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ANGLO AMERICAN HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANGLO AMERICAN HOLDINGS LIMITED
Report on the audit of the financial statements
Opinion
In our opinion, Anglo American Holdings Limited's financial statements:
∙give a true and fair view of the state of the company’s affairs as at 31 December 2022 and of its loss for the year then ended; and
∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 101 “Reduced Disclosure Framework”, and applicable law); and
∙have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements, included within the Annual Report and Financial Statements (the “Annual Report”), which comprise: the balance sheet as at 31 December 2022; the statement of comprehensive income and the statement of changes in equity for the year then ended; and the notes to the financial statements, which include a description of the significant accounting policies.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remained independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.
Conclusions relating to going concern
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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ANGLO AMERICAN HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANGLO AMERICAN HOLDINGS LIMITED
Reporting on other information
The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.
With respect to the Strategic report and Directors' report, we also considered whether the disclosures required by the UK Companies Act 2006 have been included.
Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below.
Strategic report and Directors' report
In our opinion, based on the work undertaken in the course of the audit, the information given in the Strategic report and Directors' report for the year ended 31 December 2021 is consistent with the financial statements and has been prepared in accordance with applicable legal requirements.
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we did not identify any material misstatements in the Strategic report and Directors' report.
Responsibilities for the financial statements and the audit
Responsibilities of the directors for the financial statements
As explained more fully in the Directors' responsibilities statement, the directors are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The directors are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditors’ responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias included within significant accounting judgements and estimates Audit procedures performed by the engagement team included:
∙Understanding and evaluating the design and implementation of controls designed to prevent and detect irregularities and fraud;
∙Inquiry of management, Internal Audit and the Company's legal advisors regarding their consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
∙Challenging assumptions and judgements made by management in respect of critical accounting judgements and signifacant
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ANGLO AMERICAN HOLDINGS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ANGLO AMERICAN HOLDINGS LIMITED
accounting estimates, and assessing these judgement and estimates for mangement bias.
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.
Use of this report
This report, including the opinions, has been prepared for and only for the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Other required reporting
Companies Act 2006 exception reporting
Under the Companies Act 2006 we are required to report to you if, in our opinion:
∙we have not obtained all the information and explanations we require for our audit; or
∙adequate accounting records have not been kept by the company, or returns adequate for our audit have not been received from branches not visited by us; or
∙certain disclosures of directors’ remuneration specified by law are not made; or
∙the financial statements are not in agreement with the accounting records and returns.
We have no exceptions to report arising from this responsibility.
Alex Lazarus (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London
18 May 2023
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ANGLO AMERICAN HOLDINGS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2022
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Interest payable and similar expenses
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Profit for the financial year
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Total comprehensive profit for the year
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The notes on pages 13 to 41 form part of these financial statements.
The results relate to continuing operations of the Company.
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ANGLO AMERICAN HOLDINGS LIMITED
REGISTERED NUMBER: 03734784
BALANCE SHEET
AS AT 31 DECEMBER 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 May 2023.
The notes on pages 13 to 41 form part of these financial statements.
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ANGLO AMERICAN HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022
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Comprehensive income for the year
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Total comprehensive income for the year
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Dividends: Equity capital
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The notes on pages 13 to 41 form part of these financial statements.
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Further details in respect of the dividend paid are disclosed in note 9.
Further details in respect of the shares issued during the year are disclosed in note 15.
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ANGLO AMERICAN HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
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Comprehensive income for the year
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Total comprehensive income for the year
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Dividends: Equity capital
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Shares issued during the year
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Total transactions with owners
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Anglo American Holdings Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales.
The nature of the Company’s operations and principal activities is set out in the Strategic report.
The address of the registered office is given on the Company Information page.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Changes in accounting policies and disclosures
The accounting policies applied are consistent with those adopted and disclosed in the financial
statements for the year ended 31 December 2020, except for the amendments to IFRS 9, IAS 39,
IFRS 7, IFRS 4 and IFRS 16: Interest Rate Benchmark Reform — Phase 2.
The adoption of this new accounting pronouncement has not had a significant impact on the
accounting policies, methods of computation or presentation applied by the Company.
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
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Financial reporting standard 101 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions under FRS 101:
∙the requirements of IFRS 7 Financial Instruments: Disclosures
∙the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
∙the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
∙the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
∙the requirements of IAS 7 Statement of Cash Flows
∙the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
∙the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
∙the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
∙the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.
The Company may take FRS 101 exemptions as it is a member of a group where the parent prepares publicly available consolidated financial statements which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss and the Company is included in that consolidation.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
The Company’s ability to operate as a going concern is assessed in conjunction with Anglo American plc and its subsidiaries (together the “Group”) as it is dependent upon the ability of the Group companies to settle their intercompany balances with the Company and to provide funds for working capital and other needs. The Company’s cash flow forecasts for the period to the end of June 2023, with considerations given to the uncertainty of the impact of Covid-19 pandemic on the wider macroeconomic environment and trading performance of the Group, show that the Company maintains sufficient liquidity throughout the period of assessment without the use of mitigating actions.
The directors have also received a commitment of financial support from Anglo American Services (UK) Ltd. for use to the extent that it is necessary, including but not limited to, not seeking repayment of amounts advanced to the Company by the Group unless alternative financing has been secured by the Company. This support will remain in place for the foreseeable future, including the period of at least 12 months from authorisation of the Company’s financial statements.
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is United States Dollars (USD) as this is the currency of the primary economic environment in which the Company operates.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Dividend income
Dividend income from investments is recognised when the shareholders' rights to recieve payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably)
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Dividends on preference shares are recognised as interest payable in the Statement of comprehensive income. The 8% and 8.3% preference shares of $0.50 each entitle the holders to receive a cumulative preferential dividend at the rate of 8% and 8.3% respectively, on the paid up capital.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors are amounts owed to group undertakings in respect of facility agreements.
Creditors are presented as amounts falling due within one year unless payment is not due within 12 months after the reporting period.
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:
Financial assets and financial liabilities are initially measured at fair value.
Financial assets
All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.
Debt instruments at amortised cost
Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.
Impairment of financial assets
The Company recognises a loss allowance for expected credit losses on investments in debt instruments that are measured at amortised cost or at Fair Value through Other Comprehensive Income ("FVOCI"). The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.
Financial liabilities
At amortised cost
Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.
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ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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There are no critical judgments made by the directors in applying the Company's accounting policies other than assessing investments for impairment and determining recoverability of loans.
Impairment of investments in subsidiaries
Determining whether the Company’s equity investments in subsidiaries have been impaired requires estimations of the recoverable amount of the investments. Recoverable amount is the higher of fair value less costs of disposal and value in use. The value in use calculations require the Company to estimate the future cash flows expected to arise from the investments and suitable discount rates in order to calculate present values. If the recoverable amount of an investment is estimated to be less than its carrying amount, the carrying amount of the investment is reduced to its recoverable amount. An impairment loss is recognised in the Statement of comprehensive income. See Note 9 for further information.
Determining recoverability of loans
The Company assesses the recoverability of loans to group undertakings and makes provision in the event that full recovery is not expected. The recoverability of loans is assessed by application of the expected credit loss model along with a qualitative assessment. The expected credit losses on receivables are estimated by reference to past default experience and credit rating, adjusted for current observable data.
|
During the year, the Company received dividends totalling $529,500,000 (2021: $602,771,000) from its subsidiary Anglo American Overseas Limited.
|
|
Audit fees for the audit of these financial statements of $00 (2021 - $28,492) have been borne by Anglo American Services (UK) Ltd.
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
The Company has no employees other than the directors, who did not receive any remuneration for their
services to the Company (2021 - $NIL). The directors do not believe it is practicable to apportion their total remuneration between their services as the directors of the Company and as directors of fellow group companies.
|
|
Interest payable and similar expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest payable on loans from group undertakings
|
|
|
|
Preference share dividends
|
|
|
|
|
|
|
|
As at 31 December 2022, a dividend of $54,752,000 (2021 - $54,752,000) is payable to the holder of the Company's Preference shares due for the September to December 2022 period. See note 12 for dividend payable as at 31 December 2022.
|
|
|
|
|
|
Current tax on profit for the year
|
|
|
|
Adjustments in respect of previous periods
|
|
|
|
|
|
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
8.Tax on profit (continued)
|
Factors affecting tax charge for the year
|
|
The tax assessed for the year is lower than (2021 - lower than) the standard rate of corporation tax in the UK of 19% (2021 - 19%). The differences are explained below:
|
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|
|
|
|
|
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|
|
|
|
|
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|
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Profit multiplied by standard rate of corporation tax in the UK of 19% (2021 - 19%)
|
|
|
|
|
|
|
|
Adjustments in respect of previous periods
|
|
|
|
|
|
|
|
Preference share dividends reclassified as interest
|
|
|
|
Group relief claimed for nil consideration
|
|
|
|
Total tax charge for the year
|
|
|
|
Factors that may affect future tax charges
|
The Finance (No. 2) Act 2015 reduced the standard rate of corporation tax to 19%, effective from 1 April 2017. A further reduction in the UK corporation tax rate to 17% was expected to come into effect from 1 April 2020, however, legislation in the Finance Act 2020, enacted in July 2020, repealed this reduction. The Finance Act 2021 included measures to increase the standard rate of UK corporation tax to 25% with effect from 1 April 2023. The Finance Act 2021 was enacted in June 2021 and accordingly, these rates are applicable to the measurements of deferred tax balances at 31 December 2021. No deferred tax has been recognised during the year.
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
Dividends paid on equity capital
|
|
|
|
|
Investments in subsidiary companies
|
|
|
|
|
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|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
|
The following were subsidiary undertakings of the Company:
|
|
|
|
|
|
|
|
Anglo American International
Limited
|
C/o AXIS Fiduciary Ltd, 2nd Floor, The AXIS, 26 Bank Street Cybercity Ebene, 72201, Mauritius
|
|
|
|
|
Anglo American Overseas
Limited
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG,
Jersey
|
|
Repurchaseable Class A Ordinary
|
|
|
Coromin Insurance (Ireland) DAC
|
Fourth Floor 25/28, Adelaide Road, Dublin, Ireland
|
|
|
|
|
Coromin Insurance Limited
|
Clarendon House, 2 Church Street, Hamilton,
Bermuda
|
|
|
|
|
Group financial statements are not presented as the Company is a wholly owned subsidiary undertaking of Anglo American plc, a company incorporated in the United Kingdom and registered in England and Wales. Accordingly, these financial statements present information about the Company as an individual undertaking and not about its group. Consolidated financial statements have not been prepared because the Company is exempt under s400 of the Companies Act 2006.
In accordance with Section 409 of the Companies Act 2006, a full list of related undertakings, the country of incorporation and the effective percentage of equity owned as at 31 December 2021 is disclosed in note 19 to these financial statements. Unless otherwise stated, the share capital disclosed comprises ordinary shares which are held by subsidiaries of the Company.
|
|
Associates and other investments
|
The following were directly held associates and other investments of the Company:
Name Registered office Principal activity Class of Holding
shares
Anglo American Colombia Carrera 7 No. 71-52 Holding company Ordinary 0.01%
Exploration S.A. Torre B, Piso 9, Botota,
Colombia
|
Debtors: Amounts falling due within one year
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
11.Debtors: Amounts falling due within one year (continued)
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company has deposit agreements with affiliated undertakings of which $NIL (2021 - $518,000) had been deposited at year end. The balance bears interest at the one month LIBOR rate less ten basis points. The classification of the amounts owed is based on the repayment terms.
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
Dividends payable to group undertakings
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Creditors: Amounts falling due after more than one year
|
|
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|
Share capital treated as debt
|
|
|
|
|
|
|
|
|
|
|
|
Disclosure of the terms and conditions attached to the non-equity shares is made in note 15.
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
|
|
|
Financial assets measured at amortised cost
|
|
|
|
|
|
|
|
Financial liabilities measured at amortised cost
|
|
|
|
Financial assets measured at amortised cost comprise amounts owed by group undertakings.
|
|
Financial liabilities measured at amortised cost comprise amounts owed to group undertakings.
|
|
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|
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|
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|
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|
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|
Shares classified as equity
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000,000,000 (2021 - 10,000,000,000) ordinary shares of £1.00 each
|
|
|
|
|
100,000,000 (2021 - 100,000,000) ordinary shares of $1.00 each
|
|
|
|
|
1,000 (2021 - 1,000) Class B ordinary shares of $1.00 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
107,842,439 (2021 - 107,842,439) ordinary shares of £1.00 each
|
|
|
|
|
41,571 (2021 - 41,571) ordinary shares of $1.00 each
|
|
|
|
|
1 (2021 - 1) Class B ordinary share of $1.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company has three classes of ordinary shares which carry no right to fixed income.
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
15.Called up share capital (continued)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares classified as debt
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000,000,000 (2021 - 10,000,000,000) 8% preference shares of $0.50 each
|
|
|
|
|
1,000,000,000 (2021 - 1,000,000,000) 8.3% preference shares of $0.50 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
3,820,302,015 (2021 - 3,820,302,015) 8% preference shares of $0.50 each
|
|
|
|
|
305,806,970 (2021 - 305,806,970) 8.3% preference shares of $0.50 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The 8% and 8.3% preference shares of $0.50 each entitle the holders to receive a cumulative preferential dividend at the rate of 8% and 8.3% respectively, on the paid up capital. On a return of capital on winding up, the holders of preference shares have the right to the repayment of a sum equal to the nominal capital and any premiums paid up or credited as paid up on the preference shares held by them and accruals, if any, of the preferential dividend whether accrued or not up to the date of commencement of winding up.
Preference shares have been classified as debt under IFRS 9. The preference shares do not entitle the holders to any further right of participation in the assets of the Company nor do they carry any voting rights.
|
Share premium account
Share premium represents the excess of the issue price over the par value on shares issued less transaction costs arising on issue.
Profit and loss account
Profit and loss account reserve represents accumulated retained earnings or losses.
|
Post balance sheet events
|
There have been no significant events affecting the Company since the year end.
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
Ultimate parent undertaking and controlling party
|
The immediate parent company is Anglo American Investments (UK) Limited, a company incorporated in the United Kingdom and registered in England and Wales.
The ultimate parent company and controlling entity is Anglo American plc, a company incorporated in the United Kingdom and registered in England and Wales. Anglo American plc is the parent undertaking of the largest and smallest group which includes the Company and for which group financial statements are prepared. The financial statements of both the immediate and ultimate parent companies may be obtained from the Company Secretary, 17 Charterhouse Street, London, EC1N 6RA, the registered office of both companies.
In accordance with Section 409 of the Companies Act 2006, a full list of related undertakings, the country of incorporation and the effective percentage of equity owned as at 31 December 2021 is disclosed below and on the following pages. Unless otherwise stated, the share capital disclosed comprises ordinary shares which are held by subsidiaries of the Company.
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
Country of Incorporation (1) (2)
|
|
Percentage of equity owned (3)
|
|
|
|
|
Anglo American Discovery (Cunene) - Prospeccao E Exploracao Mineira (SU), LDA
|
|
|
Edifício Kilamba, 20.º Andar, Avenida 4 de Fevereiro, Marginal de Luanda, Luanda
|
|
|
Anglo American Discovery (Moxico) - Prospeccao E Exploracao Mineira (SU), LDA
|
|
|
Edifício Kilamba, 20.º Andar, Avenida 4 de Fevereiro, Marginal de Luanda, Luanda
|
|
|
Carbones delCerrejon Limited (4)
|
|
|
Babrow's Commercial Complex, Box 1341, The Valley
|
|
|
Minera Anglo American Argentina S.A.U
|
|
Ordinary
Nominative
Non-Endorsable
|
Esteban Echeverría 1776, Piso 2, Godoy Cruz, Mendoza
|
|
|
Anglo Operations (Australia) Pty Ltd
|
|
|
Level 11, 201 Charlotte Street, Brisbane QLD 4000
|
|
|
Groote Eylandt Mining Company Proprietary Limited
|
|
|
Level 35, 108 St Georges Terrace, Perth WA 6000
|
|
|
Coromin Insurance Limited
|
|
|
Clarendon House, 2 Church Street, Hamilton
|
|
|
|
|
|
Clarendon House, 2 Church Street, Hamilton
|
|
|
Ambase Prospecting (Botswana) (Pty) Ltd
|
|
|
Plot 32, Unit G3 Victoria House, Independence Avenue, Gaborone, Ad54 Acj
|
|
|
Anglo American Corporation Botswana (Services) Limited
|
|
|
Plot 67977,Fairground Office Park, Gaborone
|
|
|
|
|
|
c/o McCarthy Tetrault, Suite 2400, 745 Thurlow Street, Vancouver BC V6E 0C5
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American Exploration (Canada) Ltd.
|
|
Common
Class B Preference
Class C Preference
|
c/o Anglo American Exploration (Canada) Ltd., Suite 620 – 650 West Georgia Street, Vancouver, BC, V6B 4N8
|
|
|
Central Ecuador Holdings Ltd.
|
|
Class A Common
Class B Common
|
c/o Borden Ladner Gervais, 1200 Waterfront Centre, 200 Burrard Street, Vancouver, British Columbia, V6C 3L6
|
|
|
Lion Battery Technologies Inc.
|
|
|
Suite 2600, Three Bentall Centre, 595 Burrard Street, P.O. BOX 49314, Vancouver BC V7X 1L3
|
|
|
|
|
Common
Preference
Class A Non-Voting
|
c/o McCarthy Tetrault, Suite 2400, 745 Thurlow Street, Vancouver BC V6E 0C5
|
|
|
Platinum Guild International (Shanghai) Co., Limited
|
|
|
Room 601, L'avenue,99 XianXia Road, Shanghai 200051
|
|
|
Anglo American Colombia Exploration S.A.
|
|
|
Carrera 7 No. 71-52 Torre B, Piso 9, Bogotá
|
|
|
|
|
|
Calle 100 No. 19-54, Piso 12, Bogotá
|
|
Democratic Republic of Congo
|
Ambase Exploration Africa (DRC) SPRL
|
|
|
c/o KPMG, 500b. Av. Mpala/Quartier Golf, Lubumbashi
|
|
|
Central Ecuador EC-CT S.A.
|
|
|
Av. Patria E4-69 y Av. Amazonas, Edif.COFIEC, piso 17, Quito
|
|
|
|
|
|
AA Sakatti Mining Oy, Tuohiaavantie 2, 99600, Sodankylä
|
|
|
|
|
|
C/- Fiduge SARLBattery IV, Soraya Building, PO Box 15.950, Liberville
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Kupfer Copper Germany GmbH
|
|
|
Simmons & Simmons LLP, Koenigsalle 2a, 40212, Dusseldorf
|
|
|
Platinum Guild International (Hong Kong) Limited
|
|
|
Suites 2901-2, Global Trade Square, No.21 Wong Chuk Hang Road
|
|
|
Platinum Guild India Private Limited
|
|
|
Notan Classic, 3rd Floor, 114 Turner Road, Bandra West, Mumbai 400 050
|
|
|
PT Anglo American Indonesia
|
|
|
Pondok Indah Office Tower 3, 17th Floor, Jl. Sultan Iskandar Muda, Pondok Indah, Jakarta 12310
|
|
|
PT Minorco Services Indonesia
|
|
|
Belagri Hotel, Jl. Raja Ampat, No 1 Kampung Baru, Sorong, Papua Barat
|
|
|
Coromin Insurance (Ireland) DAC
|
|
|
Fourth Floor, 25/28 Adelaide Road, Dublin
|
|
|
Furuya Eco-Front Technology Co., Ltd
|
|
|
MSB-21 Minami Otsuka Building, 2-37-5 Minami Otsuka, Toshima-ku, Tokyo
|
|
|
|
|
|
Imperial Hotel Tower 17F, 1-1-1 Uchisaiwai-cho, Chiyoda-ku,Tokyo, 100-8575
|
|
|
A.R.H. Investments Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Ammin Coal Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo African Exploration Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American Buttercup Company Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo American Exploration Colombia Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo American Exploration Overseas Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo American Finland Holdings 2 Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo American Midway Investment Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo American Overseas Limited (6) (8)
|
|
Repurchaseable Class A Ordinary
Repurchaseable Class B Ordinary
Repurchaseable Class C Ordinary
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Anglo Operations (International) Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Aval Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Kumba International Trading Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Minorco Overseas Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Minorco Peru Holdings Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Minpress Investments Limited (6)
|
|
|
3rd Floor, 44 Esplanade, St Helier, JE4 9WG
|
|
|
Kumba Iron Ore Holdings Sarl
|
|
|
58 rue Charles Martel, L-2134
|
|
|
Societe Civille De Prospection De Nickel A Madagascar
|
|
|
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American International Limited (6)
|
|
Normal Class A Ordinary
Ordinary-B
Repurchaseable Class A Ordinary
|
c/o AXIS Fiduciary Ltd, 2nd Floor, The AXIS, 26 Bank Street, Cybercity Ebene, 72201
|
|
|
Anglo American Mexico S.A. de C.V.
|
|
|
c/o Sanchez Mejorada, Velasco y Ribe, S.C., Paseo de la Reforma No. 450, Col. Lomas de Chapultepec, 11000
|
|
|
Servicios Anglo American Mexico S.A. de C.V.
|
|
|
c/o Sanchez Mejorada, Velasco y Ribe, S.C., Paseo de la Reforma No. 450, Col. Lomas de Chapultepec, 11000
|
|
|
Anglo American Corporation Mocambique Servicos Limitada
|
|
|
PricewaterhouseCoopers, Ltda. Avenida Vladimir Lenine, No 174, 4o andar. Edifício Millennium Park Maputo
|
|
|
Ambase Prospecting (Namibia) (Pty) Ltd
|
|
|
c/o SGA, 24 Orban Street, Klein Windhoek, Windhoek
|
|
|
Longboat Trading (Pty) Ltd
|
|
|
24 Orban Street, Klein Windhoek, Windhoek
|
|
|
Mamora Mines & Estates Limited
|
|
|
10th Floor, Namdeb Centre, 10 Dr Frans Indongo Street, Windhoek
|
|
|
Anglo American Exploration B.V. (6)
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anglo American Exploration (Philippines) B.V. (6)
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anglo Operations (Netherlands) B.V. (6)
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Minorco Exploration (Indonesia) B.V. (6)
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American Exploration West Tetyan Skopje
|
|
|
Str. Risto Ravanovski no. 13A, 1000, Skopje, Municipality of Karpos
|
|
|
Anglo American Exploration (Philippines) Inc.
|
|
|
c/o SyCipLaw Center, 105 Paseo de Roxas, Makati City 1226, Metro Manila
|
|
|
Anglo American Shipping Pte. Limited
|
|
|
10 Collyer Quay, Level 38 Ocean Financial Centre, 049315
|
|
|
Kumba Singapore Pte. Ltd.
|
|
|
10 Collyer Quey, #38-00 Ocean Financial Centre, 049315
|
|
|
MR Iron Ore Marketing Services Pte. Ltd.
|
|
|
10 Collyer Quey, #38-00 Ocean Financial Centre, 049315
|
|
|
Samancor Marketing Pte. Ltd.
|
|
|
16 Collyer Quay #18-00 Income at Raffles, 049318
|
|
|
AEF Mining Services (Pty) Ltd
|
|
|
Zommerlust Building, Rietbok Road, Kathu, Northern Cape, 8446
|
|
|
Africa Pipe Industries North (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
|
|
|
61 Katherine Street, Sandton, 2196
|
|
|
Ambase Investment Africa (Botswana) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Ambase Investment Africa (DRC) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Ambase Investment Africa (Namibia) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Ambase Investment Africa (Tanzania) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Ambase Investment Africa (Zambia) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Corporation of South Africa (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American EMEA Shared Services (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Farms (Pty) Ltd
|
|
|
Vergelegen Wine Farm, Lourensford Road, Somerset West, 7130
|
|
|
Anglo American Farms Investment Holdings (Pty) Ltd
|
|
|
Vergelegen Wine Farm, Lourensford Road, Somerset West, 7130
|
|
|
Anglo American Group Employee Shareholder Nominees (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Marketing South Africa Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Platinum Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Properties Ltd
|
|
|
61 Katherine Street, Sandton, 2196
|
|
|
Anglo American Prospecting Services (Pty) Ltd
|
|
|
55 Marshall Street, Johannesburg, 2001
|
|
|
Anglo American SA Finance Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Sebenza Fund (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American SEFA Mining Fund (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American South Africa Investments Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American South Africa Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Zimele (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Zimele Community Fund (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo American Zimele Loan Fund (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo Coal Investment Africa (Botswana) (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo Corporate Enterprises (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo Corporate Services South Africa Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo Platinum Management Services (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo South Africa (Pty) Ltd
|
|
Ordinary
Redeemable Preference
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anglo South Africa Capital (Pty) Ltd
|
|
Ordinary
Redeemable Preference
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Anseld Holdings Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Atomatic Trading (Pty) Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Blinkwater Farms 244KR (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Boikgantsho Platinum Mine (Pty) Ltd
|
|
|
5 Jellicoe Avenue, Rosebank, Johannesburg, 2913
|
|
|
Bokoni Platinum Holdings (Pty) Ltd
|
|
|
82 Grayston Drive, Sandton, Johannesburg, 2196
|
|
|
Bokoni Platinum Mines (Pty) Ltd
|
|
|
4th Floor Atholl, Johannesburg, Gauteng 2196
|
|
|
Damelin Emalahleni (Pty) Ltd
|
|
|
Cnr O R Tambo & Beatrix Avenue, Witbank, 1035
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Dingleton Home Owners Resettlemen Trust
|
|
|
124 Akkerboom Street, Building 2B, Centurion, 0157
|
|
|
Ga-Phasha Platinum Mine (Pty) Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Hotazel Manganese Mines Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
Khongoni Haaskraal Coal (Pty) Ltd
|
|
|
Unit 3, Bauhinia Street, Highveld Technopark, Centurion, 0157
|
|
|
KIO Investments Holdings (Pty) Ltd
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
|
|
|
Constantia Office Park, Cnr 14th Avenue & Hendrik Potgieter Road, Bridgeview House, Ground Floor (Lakeview Avenue), Weltevreden Park, 1709
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
Kumba Iron One Rehabilitation Trust
|
|
|
124 Akkerboom Street, Building 2B, Centurion, 0157
|
|
|
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
Kwanda Platinum Mine (Pty) Ltd
|
|
|
124 Akkerboom Street, Building 2B, Centurion, 0157
|
|
|
Lebowa Platinum Mines Limited
|
|
|
124 Akkerboom Street, Building 2B, Centurion, 0157
|
|
|
Lexshell 49 General Trading (Pty) Ltd
|
|
|
55 Marshall Street, Johannesburg, 2001
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Main Place Holdings Limited
|
|
|
Suite 801, 76 Regent Road, Sea Point, Western Cape 8005
|
|
|
Manganore Iron Mining Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
Marikana Ferrochrome Limited
|
|
|
55 Marshall Street, Johannesburg, 2001
|
|
|
Marikana Minerals (Pty) Ltd
|
|
|
55 Marshall Street, Johannesburg, 2001
|
|
|
|
|
|
Constantia Office Park, Cnr 14th Avenue & Hendrik Potgieter Road, Bridgeview House, Ground Floor (Lakeview Avenue), Weltevreden Park, 1709
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Matthey Rustenburg Refiners (Pty) Ltd
|
|
“A” Redeemable cumulative Preference shares“B” Redeemable cumulative Preference shares“A” Ordinary shares“B” Ordinary shares
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Metalloys Manganese Smelter Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Modikwa Mining Personnel Services (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Modikwa Platinum Mine (Pty) Ltd
|
|
|
16 North Road, Dunkeld Court, Dunkeld West, 2196
|
|
|
Modikwa Platinum Mine UJV
|
|
|
ARM House, 29 Impala Road, Chislehurston, Sandton, 2196
|
|
|
Mogalakwena Mine Solar Power (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Mogalakwena Platinum Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
|
|
|
55 Marshall Street, Johannesburg, 2001
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Norsand Holdings (Pty) Ltd
|
|
Ordinary
"B” Ordinary
Non-Cumulative Redeemable Preference
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Peglarae Hospital (PTY) Ltd
|
|
|
21 Oxford Manor, Rudd & Chaplin Roads, Illovo, Johannesburg, 2196
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Platmed Properties (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Polokwane Iron Ore Company (Pty) Ltd
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
Precious Metals Refiners Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
|
|
|
Greenside Colliery, PTN 0ff 331, Blackhills, 1032
|
|
|
Resident Nominees (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Rustenburg Base Metals Refiners Proprietary Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Rustenburg Platinum Mines Limited
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Samancor Holdings Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
Samancor Manganese Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
Sheba's Ridge Platinum (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Sibelo Resource Development (Pty) Ltd
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
SIOC Employee Benefit Trust
|
|
|
124 Akkerboom Street, Building 2B, Centurion, 0157
|
|
|
Sishen Iron Ore Company (Pty) Ltd
|
|
|
Centurion Gate Building 2B, 124 Akkerboom Road, Centurion, 0157
|
|
|
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Tenon Investment Holdings (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
Terra Nominees Proprietary Limited
|
|
|
39 Melrose Boulevard, Melrose Arch, Johannesburg, 2076
|
|
|
The Work Expert (Pty) Ltd
|
|
|
17 Du Plooy Street, FH Building, Potchefstroom, North West, 2530,
|
|
|
Vergelegen Wine Estate (Pty) Ltd
|
|
|
Vergelegen Wine Farm, Lourensford Road, Somerset West, 7130
|
|
|
Vergelegen Wines (Pty) Ltd
|
|
|
Vergelegen Wine Farm, Lourensford Road, Somerset West, 7130
|
|
|
Whiskey Creek Management Services (Pty) Ltd
|
|
|
144 Oxford Road, Rosebank, Melrose, Johannesburg, 2196
|
|
|
|
|
|
5 Hollard Street, Johannesburg, 1627
|
|
|
Main street 1252 (Pty) Ltd (RF)
|
|
|
Cornerstone, Corner of Daimond Drive and Crownwood Road, Theta, Johannesburg, 2013 South Africa
|
|
|
|
|
|
Avenue Mon- Repos 24, Case postale 656, CH- 1001 Lausanne
|
|
|
Ambase Prospecting (Tanzania) (Pty) Ltd
|
|
|
c/o Mawalla Advocates, Mawalla Road, Mawalla Heritage Park, Plot No. 175/20, Arusha
|
|
|
Anglo American Holdings Limited
|
|
Ordinary
8% Preference
8.3% Preference B shares
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anglo American International Holdings Limited
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anglo American Investments (UK) Limited
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
|
|
Anglo American Marketing Limited
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anglo Platinum Marketing Limited
|
|
|
17 Charterhouse Street, London, EC1N 6RA
|
|
|
Anmercosa Finance Limited
|
|
|
1 More London Place, London, SE1 2AF
|
|
|
|
|
|
16 Littleworth Lane, Esher, Surrey, KT10 9PF
|
|
|
|
|
|
16 Littleworth Lane, Esher, Surrey, KT10 9PF
|
|
|
Mission Zero Technologies Ltd
|
|
|
46-54 High Street, Ingatestone, Essex, CM4 9DW
|
|
|
Supercritical Solutions Ltd
|
|
|
Orchard House School Lane, Cookham, Maidenhead, England, SL6 9QJ
|
|
|
Swanscombe Development LLP
|
|
|
Bardon Hall, Copt Oak Road, Markfield, LE67 9PJ
|
|
|
Anglo American US Holdings Inc.
|
|
|
c/o Corporation Service Company, 251 Little Falls Drive, Wilmington Delaware, 19808''
|
|
|
Platinum Guild International (U.S.A.) Jewelry Inc.
|
|
|
125 Park Avenue, 25th Floor, New York, New York 10017
|
|
|
Anglo Exploration (Zambia) (Pty) Ltd
|
|
|
11 Katemo Road, Rhodes Park, Lusaka
|
|
|
|
|
|
28 Broadlands Road, Emerald Hill, Harare
|
|
|
Anglo American Corporation Zimbabwe Limited
|
|
|
28 Broadlands Road, Emerald Hill, Harare
|
|
|
|
|
|
28 Broadlands Road, Emerald Hill, Harare
|
|
|
|
|
|
28 Broadlands Road, Emerald Hill, Harare
|
|
|
Unki Mines (Private) Limited
|
|
|
28 Broadlands Road, Emerald Hill, Harare
|
|
ANGLO AMERICAN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
(1) All the companies with an incorporation in the United Kingdom are registered in England and Wales.
(2) The country of tax residence is disclosed where different from the country of incorporation.
(3) All percentages have been rounded.
(4) Tax resident in Colombia.
(6) Tax resident in the United Kingdom.
|