Disclosures

Recognition and Measurement

 Property, plant and equipment – cost less accumulated depreciation and impairment charges
o Right-of-use assets - adjusted for any remeasurement of lease liabilities
 Exploration and evaluation – charged to the income statement as incurred except in ff:
o Mineral activities – within area of interest previously acquired as an asset acquisition
o Petroleum activities – within area of interest where expenditure is expected to be recouped by future
exploitation or sale
- capitalized costs are carried forward to the extent that it is expected to be recovered through the successful
exploitation of area of interest
- to the extent that capitalized expenditure is no longer expected to be recovered, it is charged to income
statement
 Development Expenditure – capitalized exploration and evaluation expenditure is reclassified as assets under
constructions
 Other mineral assets
o Overburden removal costs - accounted for separately for individual component of an ore body
o Development stripping costs – capitalized development stripping costs are depreciated using the units of
production method