balance.htm

CONSOLIDATED BALANCE SHEETS
AT DECEMBER 31, 1998 AND 1997
(In millions, except share information)

	Notes	1998	1997
		R	R

ASSETS
Current assets		3 459	788
Cash and cash equivalents		1 318	73
Receivables		1 462	342

Trade		188	166
From sale of shafts		244	?
Financial instruments	19	595	11
From related parties	5	?	62
Value added taxes		153	79
Other		282	24

Inventories	8	679	373
Property, plant and equipment	9	11 195	3 737
Mineral reserves	10	11 129	?
Other long term assets	11	3 292	447

Total assets		29 075	4 972

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities		2 159	835
Accounts payable and accrued liabilities	12	1 799	723
Short term debt	13	4	108
Income and mining taxes payable		356	4
Long term debt	14	807	412
Deferred income and mining taxes	6	6 489	1 603
Provision for environmental rehabilitation	15	577	156
Provision for post-retirement medical benefits	16	746	?
Commitments and contingencies	17
Stockholders' equity as per statement	18	18 297	1 966
Preferred stock
"A" preferred ? 2,000,000 authorized stock of 50 cents each.
Stock issued 1998 ? nil (1997 ? 2,000,000)		?	1
"B" preferred ? 5,000,000 authorized stock of 1 cent each.
Stock issued 1998 ? nil (1997 ? 778,896)		?	?
Common stock
200,000,000 (1997 ? 20,000,000) authorized common stock
of 50 cents each.
Stock issued 1998 ? 97,853,199 (1997 ? 19,634,491)		49	10
Additional paid-in capital		16 761	540
Unrealized gains on marketable securities, net		?	1
Retained earnings		1 487	1 414

Total liabilities and stockholders' equity		29 075	4 972