Viewpoints: IFRS 16 Leases - Key recognition considerations for the mining industry (Mining)

Understand some key lease recognition issues in contractual arrangements common to the mining industry and how the accounting for some agreements may be affected by IFRS 16.

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Developed jointly by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada (PDAC), this paper addresses some key lease recognition issues in the mining industry such as:

  • mineral leases and surface-land contracts
  • short-term leases and low-value items (or low-value leases)
  • identifying leases embedded in mining services contracts, including drilling and similar contracts
  • lease and non-lease components of contracts