Consolidated statement of cash flows



(Rm)	Notes	Six months ended 31 December 2018 (Reviewed)	Six months ended 31 December 2017 (Reviewed)	Year ended 30 June 2018 (Audited)

Cash flows from operating activities
Cash generated from/(utilised by) operations	11	6 703	(249)	2 364
Exploration cost		(1)	(2)	(4)
Finance cost		(520)	(521)	(1 025)
Income tax paid		(160)	(366)	(1 336)
Net cash from/(used in) operating activities		6 022	(1 138)	(1)
Cash flows from investing activities
Purchase of property, plant and equipment		(1 727)	(1 903)	(4 667)
Proceeds from sale of property, plant and equipment		55	13	26
Purchase of investment property		–	(1)	(1)
Purchase of interest in associate – Waterberg		–	(408)	(408)
Waterberg shareholder funding		(11)	–	(17)
Interest received from held-to-maturity financial assets		–	3	3
Loans granted		(1)	–	–
Finance income		168	240	182
Dividends received		130	61	253
Net cash used in investing activities		(1 386)	(1 995)	(4 629)
Cash flows from financing activities
Shares purchased – Long-term Incentive Plan		(101)	(71)	(78)
Repayments of borrowings		(1 855)	(341)	(999)
Proceeds from borrowings net of transaction costs		–	–	1 500
Dividends paid to non-controlling interest		(135)	–	(15)
Net cash (used in)/from financing activities		(2 091)	(412)	408
Net increase/(decrease) in cash and cash equivalents		2 545	(3 545)	(4 222)
Cash and cash equivalents at beginning of period		3 705	7 839	7 839
Effect of exchange rate changes on cash and cash equivalents held in foreign currencies		105	(86)	88
Cash and cash equivalents at end of period		6 355	4 208	3 705

The notes are an integral part of these condensed interim financial statements.