Viewpoints: Understanding phases of activities (Mining)

Learn about the different phases of activity of a mining entity, highlighting distinctions between each phase.

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Accounting for expenditures during different phases of activities depends on whether these occurred in or outside of the exploration and evaluation phase. Be better positioned to make informed decisions about accounting for expenditures and applying IFRS.

Prepared by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada, Viewpoints: Applying IFRS in the Mining Industry: Phases of Activities discusses the six general phases of activity of a mining entity, which are:

  • pre-acquisition
  • exploration
  • evaluation
  • development
  • production
  • closure & rehabilitation

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