IGO Interactive Annual Report 2019

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 30 JUNE 2019 Notes to the consolidated financial statements 30 June 2019 (continued) 14 Mine properties Mine properties in development $'000 Mine properties in production $'000 Deferred stripping $'000 Total mine properties $'000 Year ended 30 June 2019 Cost 4,271 1,720,121 198,031 1,922,423 Accumulated amortisation and impairment - (464,628) (146,419) (611,047) Net book amount 4,271 1,255,493 51,612 1,311,376 Movements Carrying amount at beginning of the period - 1,391,143 66,545 1,457,688 Additions 1,497 41,482 36,056 79,035 Transfers from exploration and evaluation expenditure 2,774 - - 2,774 Amortisation expense - (177,132) (50,989) (228,121) Closing net book amount 4,271 1,255,493 51,612 1,311,376 Year ended 30 June 2018 Cost - 1,831,083 161,975 1,993,058 Accumulated amortisation and impairment - (439,940) (95,430) (535,370) Net book amount - 1,391,143 66,545 1,457,688 Movements Carrying amount at beginning of the period 1,355,722 202,282 54,915 1,612,919 Additions - 74,734 43,396 118,130 Transfers to exploration and evaluation expenditure - (1,473) - (1,473) Amortisation expense - (206,227) (31,766) (237,993) Transfers (1,355,722) 1,355,722 - - Disposal of subsidiary - (33,895) - (33,895) Closing net book amount - 1,391,143 66,545 1,457,688 (a) Recognition and measurement (i) Mine properties in development Mine properties in development represent the expenditure incurred when technical feasibility and commercial viability of extracting a mineral resource have been demonstrated, and includes the costs incurred up until such time as the asset is capable of being operated in a manner intended by management. These costs are not amortised but the carrying value is assessed for impairment whenever facts and circumstances suggest that the carrying amount of the asset may exceed its recoverable amount. Independence Group NL 28 IGO ANNUAL REPORT 2019 — 91