Logo
Exxaro Resources Limited
Group and company annual financial
statements for the year ended
31 December 2023
1Chapter
2Chapter
3Chapter
4Chapter
5Chapter
6Chapter
7Chapter
8Chapter
9Chapter
10Chapter
<Next
11Chapter
12Chapter
13Chapter
14Chapter
15Chapter
16Chapter
17Chapter
18Chapter
19Chapter
>Previous

CHAPTER 13:Provisions and contingencies

  • 13.1ACCOUNTING POLICIES RELATING TO PROVISIONS AND CONTINGENCIES

Provision is made for future cost of environmental rehabilitation consisting of activities relating to restoration, decommissioning as well as cost of residual impact at a rehabilitated mine after final closure, restoration and decommissioning have been completed. Estimates are based on unscheduled closure cost that are reviewed internally every six months and by external consultants every three years or earlier, should the level of risk require such external review. Where provision is made for dismantling of assets and site restoration cost, an asset of similar initial value is raised and depreciated in accordance with the accounting policy for property, plant and equipment.