Anglo American Annual Report 2012

38. GROUP COMPANIES continuedPercentage of equity owned (9)Joint ventures Country of incorporation Business 2012 2011LLX Minas-Rio Logística Comercial Exportadora SA Brazil Port 49% 49%Compañía Minera Doña Inés de Collahuasi SCM Chile Copper 44% 44%Debswana (10) Botswana Diamonds 50% –Namdeb Holdings Namibia Diamonds 50% –AI Futtain Tarmac Quarry Products Limited Dubai Construction materials 49% 49%Midland Quarry Products Limited UK Construction materials 50% 50%Tarmac Oman Limited Hong Kong Construction materials 50% 50%Midmac Tarmac Qatar LLC Qatar Construction materials 50% 50%Percentage of equity owned (9)Associates Country of incorporation Business 2012 2011Samancor Holdings Proprietary Limited (11) South Africa Manganese 40% 40%Groote Eylandt Mining Company Pty Limited (GEMCO) (11) Australia Manganese 40% 40%Tasmanian Electro Metallurgical Company Pty Limited (TEMCO) (11) Australia Manganese 40% 40%Jellinbah Group Pty Limited (12) Australia Coal 33.3% 33.3%Cerrejón Zona Norte SA Colombia Coal 33.3% 33.3%Carbones del Cerrejón LLC Anguilla Coal 33.3% 33.3%Percentage ownedProportionately consolidated jointly controlled operations (13) Location Business 2012 2011Drayton Australia Coal 88.2% 88.2%Moranbah North Australia Coal 88% 88%German Creek (14) Australia Coal 70% 70%Foxleigh Australia Coal 70% 70%Dawson Australia Coal 51% 51%(1)The proportion of voting rights of subsidiaries held by the Group is the same as the proportion of equity owned.(2)Anglo Ferrous Minas-Rio Mineração SA changed its name to Anglo American Minério de Ferro Brasil SA in 2012.(3)A division of Anglo Operations Limited, a wholly owned subsidiary.(4)Non-controlling interest of 0.018%.(5)Copebrás Limitada changed its name to Anglo American Fosfatos Brasil Limitada in 2012.(6)Mineração Catalão de Goiás Limitada changed its name to Anglo American Nióbio Brasil Limitada in 2012.(7)Anglo Ferrous Amapá Mineração Limitada has been reclassified from Iron Ore and Manganese to Other Mining and Industrial to align with internal management reporting.(8)On 23 November 2012 the Group disposed of Scaw South Africa and related companies, see note 33.(9)All equity interests shown are ordinary shares.(10)Consolidated on a 19.2% proportionate basis, reflecting economic interest.(11)These entities have a 30 June year end.(12)The Group’s effective interest in the Jellinbah operation is 23.3%.(13)The wholly owned subsidiary Anglo American Metallurgical Coal Holdings Limited holds the proportionately consolidated jointly controlled operations.(14)The German Creek operation includes both Capcoal Open Cut and Underground operations.Financial statementsChanges in ownership interests in subsidiariesIn July 2012 the Group increased its shareholding in Kumba Iron Ore Limited by 4.5% through the exercise of options acquired in 2011 and 2012, therebyincreasing its shareholding from 65.2% to 69.7%.In August 2012 the Group sold a 25.4% interest in Anglo American Sur to a Corporación Nacional del Cobre de Chile (Codelco) and Mitsui & Co., Ltd. jointventure company controlled by Codelco, for proceeds of $1.9 billion. As disclosed in note 11d, capital gains tax of $290 million relating to the profit on sale hasbeen charged directly to equity.In August 2012 the Group acquired an additional 40% of the share capital of De Beers Société Anonyme, see note 32.39. EVENTS OCCURRING AFTER END OF YEARPlatinumOn 15 January 2013 the Group announced the outcome of its review of the Anglo American Platinum business to create a sustainable, competitive andprofitable platinum business for the long term benefit of all stakeholders. The key proposals from the review were to place the Khuseleka and Khomananimines on care and maintenance, reconfigure the Rustenburg operations into three operating mines, close the Union Mine North declines and place otherprocessing assets on long term care and maintenance. Anglo American Platinum is engaging with the South African government, organised labour and otherstakeholders and would pursue the consultation process in terms of the requirements of South African law prior to implementing these proposals.As a result, if the Group is not expected to receive future economic benefits from these mines, property, plant and equipment, a post-tax impairment of up to$0.6 billion could be recognised as an operating special item in the income statement in 2013.The gross cash costs associated with the implementation of the Portfolio Review and overhead review, which is expected to be approximately $0.3 billion(after tax: $0.2 billion), would be expensed as incurred as an operating special item in the income statement during the course of 2013.OtherOn 7 January 2013 the Group announced the completion of the 50:50 joint venture with Lafarge, which combined their cement, aggregates, ready-mix concrete,asphalt and asphalt surfacing, maintenance services, and waste services businesses in the United Kingdom. The joint venture will be known as Lafarge Tarmac.On 4 January 2013 the Group announced the sale of its 70% interest in the Amapá iron ore system in Brazil to Zamin Ferrous Ltd. The transaction is subject tostate regulatory approval.With the exception of the above and the proposed final dividend for 2012, see note 12, there have been no material reportable events since 31 December 2012.Anglo American plc Annual Report 2012 187