Bank deposits of the Mining Plant Decomissioning Fund *
18.5
-
Corporate bonds
144.5
144.5
Cash and cash equivalents of the Mining Plant Decomissioning Fund *
237.3
233
Loans extended
1.4
-
Other non-financial receivables
6.5
1.8
Total other long-term assets
408.2
379.3
* This item includes funds accumulated to finance the decomissioning of a mining plant. According to the provisions of the Geological and Mining Law Act (Journal of Laws No. 163 Item 981 of 2011, as amended) and the Minister of Economy's Regulation on the principles of establishing and managing a mining plant decomissioning fund, the Company is obligated to accumulate funds on a separate bank account of the Mining Plant Decomissioning Fund (Fundusz Likwidacji Zakładów Górniczych – FLZG), which may be expended solely and exclusively to finance a total or partial decomissioning of a mining plant
Corporate bonds include registered cash bonds issued by a Spółka Energetyczna Jastrzębie S.A. (“SEJ”) with the nominal value of PLN 144.5 million, subscribed by JSW S.A. in 2011. The bonds bear interest based on a floating interest rate. Their final maturity date is the last business day of 2018.
In 2012, JSW S.A. granted a loan to a subsidiary “Advicom” Sp. z o.o.; as at 31 December 2012, the loan amount is PLN 3.2 million (long-term part of PLN 1.4 million, short-term part of PLN 1.8 million) with the final maturity of 31 October 2014. The loan bears interest based on a floating interest rate linked to the WIBOR 3M reference rate.
All the long-term financial assets are denominated in Polish zloty.