The Board is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6 Exploration for and Evaluation of Mineral Resources.
Before deciding the scope and direction of this research project, the Board plans to hold education sessions to develop further its understanding of extractive activities and the findings of the 2010 Discussion Paper.
The Board met on 17 February 2021 to discuss extractive activities in the minerals and oil and gas industries, the common accounting challenges relating to those extractive activities and the reasons for those challenges. This discussion will help the Board to decide, at a future meeting, whether to replace or amend IFRS 6 Exploration for and Evaluation of Mineral Resources.
The Board considered a summary of:
The Board was not asked to make any decisions.