What is Group policy on capital expenditure?
On capital expenditure we have no firm target other than to ensure the assets we have are appropriately maintained to ensure their productivity and replaced as and when necessary. We believe the Group is well capitalised as a result of having spent R13,5 bn on capex and investments over the five years to June 2009. Expansion capex is on case by case basis and subject to meeting return criteria over time. Capex is part and parcel of our Group wide asset management, including working capital.
