Consolidated statement of cash flows

(Rm)	Six months   ended   31 December   2016   (Reviewed)	Six months   ended   31 December   2015   (Reviewed)	Period ended   30 June   2016   (Audited)
Cash flows from operating activities
Cash generated from operations	446	1 454	4 140
Exploration cost	(5)	(8)	(13)
Finance cost	(313)	(288)	(589)
Income tax paid	(342)	(235)	(859)
Net cash flow attributable to discontinued operation	68	53	52
Net cash from/(used in) operating activities	(146)	976	2 731
Cash flows from investing activities
Purchase of property, plant and equipment	(1 595)	(1 902)	(3 658)
Proceeds from sale of property, plant and equipment	27	13	42
Purchase of available-for-sale financial assets	(3)	—	(152)
Purchase of held-to-maturity financial assets	—	—	(70)
Proceeds from available-for-sale financial assets	—	—	23
Proceeds from held-to-maturity financial assets	4	—	40
Loans granted	(1)	(14)	(2)
Loan repayments received	15	21	24
Finance income	204	181	393
Dividends received	89	167	439
Net cash flow attributable to discontinued operation	—	1	1
Net cash used in investing activities	(1 260)	(1 533)	(2 920)
Cash flows from financing activities
Issue of ordinary shares	479	3 900	3 902
Shares purchased – Long-term Incentive Plan	(35)	(16)	(17)
Repayments of borrowings	(348)	(5)	(13)
Proceeds from borrowings	—	255	389
Net cash flow attributable to discontinued operation	(7)	(33)	(46)
Net cash from financing activities	89	4 101	4 215
Net increase/(decrease) in cash and cash equivalents	(1 317)	3 544	4 026
Cash and cash equivalents at beginning of period	6 788	2 597	2 597
Effect of exchange rate changes on cash and cash equivalents held in foreign currencies	(52)	214	165
Cash and cash equivalents at end of period (Including held for sale cash equivalents)	5 419	6 355	6 788
Cash and cash equivalents at end of period (excluding held for sale cash equivalents)	5 346	6 288	6 762
The notes here are an integral part of these condensed interim financial statements.