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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
Annual Report 2015 137
Notes to the consolidated financial statements
30 June 2015
19 Non-current assets - Mine properties
2015
$'000
Restated*
2014
$'000
Mine properties in production
303,300
329,279
303,300
329,279
Reconciliations of the carrying amounts at the beginning and end of the financial year are as follows:
2015
$'000
Restated*
2014
$'000
Mine properties in development
Carrying amount at beginning of financial year
-
230,628
Additions
-
28,587
Transfers to property, plant and equipment
-
(17,215)
Transfers to mine properties in production
-
(242,717)
Borrowing costs capitalised
-
544
Depreciation expense capitalised
-
173
Carrying amount at end of financial year
-
-
Mine properties in production
Carrying amount at beginning of financial year
329,279
89,062
Additions
46,356
47,589
Transfers from exploration and evaluation expenditure
10,609
10,188
Transfers to property, plant and equipment
(1,033)
-
Transfers from mine properties in development
-
242,717
Transfers to inventories
-
(9,519)
Amortisation expense
(81,911)
(50,758)
Carrying amount at end of financial year
303,300
329,279
20 Non-current assets - Exploration and evaluation expenditure
2015
$'000
Restated*
2014
$'000
Exploration and evaluation costs
109,930
111,583
109,930
111,583
Reconciliations of the carrying amounts at the beginning and end of the financial year are as follows:
2015
$'000
Restated*
2014
$'000
Carrying amount at beginning of financial year
111,583
115,379
Additions
12,417
12,471
Transfers to mine properties in production
(10,609)
(10,188)
Impairment charge
(3,461)
(6,079)
Carrying amount at end of financial year
109,930
111,583
Exploration and evaluation assets are assessed for impairment when facts and circumstances suggest that the carrying
amount of an exploration and evaluation asset may exceed its recoverable amount. Management regularly evaluates
the recoverability of exploration and evaluation assets. The Group has impaired the following capitalised exploration and
evaluation costs during the reporting period:
Independence Group NL
73