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Final stage

On 19 October 2011, the International Accounting Standards Board issued IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine. The Interpretation has an effective date of 1 January 2013, but earlier adoption is permitted.


The Interpretations Committee was asked to clarify when and how to account for stripping costs (the process of removing waste from a surface mine in order to gain access to mineral ore deposits) to address diversity in practice.

The Interpretation clarifies when production stripping should lead to the recognition of an asset and how that asset should be measured, both initially and in subsequent periods.