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ANNUAL REPORT 2010

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Skip Navigation LinksFinancial Report > Notes to the Consolidated Financial Statements > Note 6. Cash And Cash Equivalents

note 6. cash and cash equivalents

CONSOLIDATED
2010
US$M
2009
US$M
Cash at bank and in hand13.618.8
Short-term bank deposits335.247.4
Total cash and cash equivalents348.866.2

Total cash and cash equivalents includes US$0.1M restricted to social responsibility projects in Malawi (refer to Note 16(c)(iii)) and US$21.0M in respect of the LHM and KM project finance facility (refer to Note 18).

Cash at bank earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.

(a) Reconciliation of net loss after tax to net cash flows used in operating activities

CONSOLIDATED
2010
US$M
2009
US$M
Net loss(53.8)(576.4)
Adjustments for
Depreciation and amortisation21.310
Exploration expenditure(3.3)-
Loss recognised on re-measurement to fair value0.21.1
Loss on disposal of investments0.8-
Database licence revenue(0.2)(0.2)
Net exchange differences5.2(1.1)
Share-based payments10.315.3
Non-cash financing costs15.716.9
Inventory impairment-3.7
Available-for-sale investment impairment-26
Exploration impairment-753.8
Asset impairment2.9-
Interest capitalised as property, plant and equipment(29.4)(17.9)
Changes in assets and liabilities
Increase in prepayments(2.0)(1.5)
(Increase)/decrease in trade and other receivables(3.6)9.0
(Decrease)/increase in trade and other payables(33.1)18.4
Increase in provisions6.90.6
Increase in inventories(11.4)(40.6)
Increase/(decrease) in deferred tax liabilities27.7(246.1)
Decrease in deferred tax assets 3.99.1
Net cash flows used in operating activities(41.9)(19.9)

(b) Disclosure of financing facilities - Refer to Note 18.