20974 29Metals AR23 WEB V1 - Flipbook - Page 176
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29Metals 2023 Annual Report
Consolidated Financial Statements continued
97
29Metals Appendix 4E and Annual Financial Report for 29Metals Limited and its Controlled Entities for the year ended 31 December 2023
Consolidated Financial Statements
Note 23: Provisions (continued)
Significant accounting estimates and assumptions
Mine Rehabilitation, Restoration and Dismantling Obligations
ro ision is ma e for the anti ipate osts of future restoration, reha i itation an ismant in of minin areas from hi h natura resour es ha e een
e tra te in a or an e ith the a ountin po i y hese pro isions in u e future ost estimates asso iate ith re amation, p ant osures, aste site
osures, monitorin , emo ition, e ontamination, ater purifi ation an permanent stora e of histori a resi ues hese future ost estimates are
is ounte to their present a ue
he a u ation of these pro ision estimates re uires assumptions su h as the app i ation of en ironmenta e is ation, the s ope an timin of p anne
a ti ities, a ai a e te hno o ies, en ineerin ost estimates an is ount rates
han e in any of the assumptions use may ha e a materia impa t on
the arryin a ue of mine reha i itation, restoration an ismant in pro isions or non operatin sites, han es to estimate osts are re o nise
imme iate y in the onso i ate tatement of omprehensi e n ome
he is ount rate use in the a u ation of the pro ision as at
e em er
is
year ife for apri orn opper
years an
year ife for Go en Gro e
i e un erta en
he ash f o s ha e een is ounte o er a
years , ta in into a ount hen the reha i itation a ti ities
Sensitivity
per ent in rease in the is ount rates app ie at
e em er
ou resu t in a e rease to the reha i itation an restoration pro ision of
appro imate y , , , an a e rease in ine properties of appro imate y , ,
n a ition, the han e ou resu t in a e rease of
appro imate y
,
to epre iation e pense an a
,
in rease in net finan e osts for the year en in
e em er
Gi en the on ife nature of the majority of the Group’s assets, a su stantia portion of fina
si nifi ant perio of time
97
osure a ti ities are enera y not e pe te to o ur for a
