| | | 2003 | | 2002 |
| | | | R000 | | R000 |
|
| 3. | Northam Platinum Restoration Trust Fund |
| The company contributes to a dedicated environmental |
| restoration trust fund to provide for the estimated |
| decommissioning and environmental restoration costs |
| at the end of the mine's life. |
| The balance in the fund was as follows: |
| - balance at beginning of year | | 8 568 | | 7 128 |
| - contributions made during the year | | 879 | | 703 |
| - net income earned during the year | | 1 015 | | 737 |
| | |
| |
|
| - balance at end of year | | 10 462 | | 8 568 |
| | |
| |
|
| In addition the company has passed a notarial bond for |
| R27.3 million over certain of the mine's freehold property |
| in favour of the fund to ensure that the fund will be able |
| to meet future rehabilitation obligations. |
The unissued shares other than those reserved for the Northam Platinum Share Option Scheme are under the control of the directors until the date of the next annual general meeting.
Details of share capital and shares held by the directors are contained in the Directors' Report. |
