IFRS 6 deals with the accounting of exploration for, and the evaluation of, mineral resources. In April 2010, the IASB published the results of an international research project on a possible future IFRS for extractive activities in the form of a discussion paper—Extractive Activities. This chapter reports both on IFRS 6 and possible future developments. However, the IASB has paused the project and moved extractive activities to an inactive phase. At the time of writing, the project is not included on the IASB’s work plan..

IFRS 6 does not address other aspects of accounting by entities engaged in the exploration for and evaluation of mineral resources. An entity shall not apply IFRS 6 to expenditures incurred:

  • Before the exploration for and evaluation of mineral resources, such as expenditures incurred before the entity has obtained the legal rights to explore a specific area;
  • After the technical feasibility and commercial viability ...

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