36 DISPOSAL OF BUSINESS INTERESTS
36.1 Disposal of subsidiary
 

The group disposed of its interest in a wholly owned subsidiary, Zeerust Chrome Mines Limited (Zeerust), on 15 November 2018 (effective date), recorded as a disposal group held-for-sale as at 30 June 2018 (refer note 10).

    R’000   
The following assets and liabilities were disposed of as part of the above transaction:      
Trade and other receivables   375   
Long-term provisions   (1 646)  
Short-term provisions   (18)  
Trade and other payables   (380)  
Net liabilities disposed of   (1 669)  
Disposal proceeds receivable (refer note 6)   (1 000)  
Gain on disposal of investment in subsidiary company included in other income   (2 669)  
36.2 Disposal of interest in associate
 

During April 2017, Wonderstone Limited (Wonderstone), a wholly owned subsidiary, acquired a 40% shareholding in Dakot Wear Ceramics Proprietary Limited (DWC). DWC produces milling media, technical ceramics and other associated products and is located in Gingindlovu, KwaZulu-Natal.

At 31 December 2017, management determined that the carrying value of the investment would not be recovered through its operations and accordingly the investment was impaired.

In an agreement concluded on 29 April 2018, the group secured a sale of all of its shares held in DWC for R6 000 000, refer note 6, payable over a period of five years, with the outstanding amount being secured by way of a special notarial bond in favour of subsidiary company Wonderstone.

    R’000  
Share of loss in associate (2018)   2 087