Viewpoints: Commencement of commercial production (Mining)

This document explains how to determine when a mine has reached the commercial production phase.

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Better understand when commercial production for a mine begins, so that you can optimize your accounting practices with more informed decision-making.

Prepared by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada, Viewpoints: Applying IFRS in the Mining Industry: Commencement of Commercial Production outlines factors that will help you understand when commercial production has commenced, such as when:

  • testing of the mine plant and equipment is complete
  • internal development groups or external contractors have transferred the mine to operating personnel
  • mineral recoveries are at or near their expected production level


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