| | | 19 | Restricted investments | | |
| 1 597 | 1 702 | | Investments held by Environmental Trust Funds (a) | 223 | 207 |
| 43 | 40 | | Investments held by Social Trust Fund (b) | 5 | 5 |
| 1 640 | 1 742 | | Total restricted investments | 228 | 212 |
| | | |
(a) | Environmental Trust Funds consist of: | | |
| 1 597 | 370 | |
| – Held-to-maturity financial assets | 48 | 207 |
| – | 1 332 | |
| – Fair value through profit or loss financial assets | 175 | – |
| 1 597 | 1 702 | | Total Environmental Trust Funds | 223 | 207 |
| | | | The environmental trust funds are irrevocable trusts under the group's control. Contributions to the trusts are invested in interest-bearing short-term investments or medium-term equity-linked notes issued by commercial banks that provide guaranteed interest and additional interest or growth linked to the growth of the Shareholder Weighted Top 40 index (SWIX 40) of the JSE. The equity-linked notes are designated fair value through profit or loss investments and recorded at fair value whilst the interest-bearing short-term investments are classified as held-to-maturity and recorded at amortised cost. These investments provide for the estimated cost of rehabilitation at the end of the life of the group's mines. Income earned on the investments is retained in the funds and reinvested. | | |
| | | | | | |
| | | | | Reconciliation of the movement in the Environmental Trust Funds: | | |
| 1 603 | 1 597 | | | Balance at beginning of year | 207 | 206 |
| 178 | 69 | | | Interest income | 9 | 21 |
| – | 31 | | | Fair value movement | 4 | – |
| (184) | – | | | Disposal of business | – | (20) |
| – | 5 | | | Contributions made | 1 | – |
| – | – | | | Translation | 2 | – |
| 1 597 | 1 702 | | Balance at end of year | 223 | 207 |
| | | | | | | |
| | | |
(b) |
The Social Trust Fund is an irrevocable trust under the group's control and is classified as a held-to-maturity investment. The group has undertaken to donate over a period of 10 years to The Harmony Gold Mining Group Social Plan Trust in terms of an agreement signed on 3 November 2003. An initial donation of R19 million (US$2.7 million) was made during the 2004 year. Thereafter instalments of R3.5 million (US$0.45 million) per annum was and will be made with the final instalment to be made in 2013. The purpose of the Trust is to fund the social plan to reduce the negative effects of restructuring on the group's workforce, to put measures in place to ensure that the technical and life skills of the group’s workforce are developed and to develop the group’s workforce in such a manner to avoid or minimise the effect of job losses and a decline in employment through turnaround or redeployment strategies. | | |
| | | |
| | | |
| | | |
| Reconciliation of the movement in the Social Trust Fund: | | |
| 36 | 43 | |
| Balance at beginning of year | 5 | 5 |
| 4 | 4 | |
| Contributions made* | 1 | – |
| 4 | 3 | |
| Interest accrued* | – | – |
| (1) | (10) | |
| Claims paid* | (1) | – |
| 43 | 40 | |
| Balance at end of year | 5 | 5 |
| | | |
|
* | Note that for the 2009 financial year when these amounts were translated into US dollars, the amounts were less than US$0.5 million and were rounded down, resulting in no movement being shown for the year. | | |