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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2015
Annual Report 2015 139
Notes to the consolidated financial statements
30 June 2015
23 Current liabilities - Provisions
2015
$'000
2014
$'000
Provision for employee entitlements
2,659
2,557
2,659
2,557
24 Non-current liabilities - Provisions
2015
$'000
2014
$'000
Provision for employee entitlements
1,727
1,527
Provision for rehabilitation costs
27,660
24,018
29,387
25,545
(a) Movements in provisions
Movements in the provision for rehabilitation costs during the financial year are set out below:
2015
$'000
2014
$'000
Carrying amount at beginning of financial year
24,018
20,694
Additional provision
3,120
2,889
Rehabilitation and restoration borrowing costs expense
590
565
Payments during the period
(68)
(130)
27,660
24,018
Rehabilitation provision
A provision for restoration is recognised in relation to mining activities for such costs as reclamation, site closure, plant
closure and other costs associated with the restoration of the mining sites.
25 Derivative financial instruments
2015
$'000
2014
$'000
Current assets
Commodity hedging contracts - held for trading
4,981
-
Commodity hedging contracts - cash flow hedges
-
1,119
Foreign currency contracts - held for trading
-
29
Foreign currency contracts - cash flow hedges
-
1,371
4,981
2,519
Non-current assets
Commodity hedging contracts - cash flow hedges
-
658
-
658
Current liabilities
Commodity hedging contracts - held for trading
-
1,489
Commodity hedging contracts - cash flow hedges
762
4,892
Foreign currency contracts - held for trading
1,622
-
2,384
6,381
Non-current liabilities
Commodity hedging contracts - cash flow hedges
717
-
717
-
Independence Group NL
75