Viewpoints: Depletion and the useful life of a mine (Mining)

Learn how to determine the useful life a mine in order to effectively calculate its depletion.

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When it comes to your company’s mining project, you may be wondering: How do I determine the useful life of the mine? As Viewpoints: Applying IFRS in the Mining Industry: Depletion of a Mine in the Production Phase: Useful Life of the Mine explains, such an assessment requires considering a range of factors, including the number of production units expected to be obtained from the mine.

Prepared by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada, this resource for junior mining companies outlines what you need to know to calculate the depletion of a mine in the production phase, including:

  • determining expected production units for different types of reserve or resource bases
  • the implications of excluding expected future development costs from a mine’s depletable amount
  • deciding on the appropriateness of using a particular reserve or resource base


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