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AASB 6 - Exploration for and Evaluation of Mineral Resources - December 2004
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Defined terms
This appendix is an integral part of AASB 6.
| exploration and evaluation assets | Exploration and evaluation expenditures recognised as assets in accordance with the entity’s accounting policy. |
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| exploration and evaluation expenditures | Expenditures incurred by an entity in connection with the exploration for and evaluation of mineral resources before the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. |
| exploration for and evaluation of mineral resources | The search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource. |