Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Disclosure of detailed information about property, plant and equipment [abstract]

PROPERTY, PLANT AND EQUIPMENT


United States Dollars
31 December 2020					31 December 2021
Land, mineral rights and rehabilitation assets	Mine development, infrastructure and other assets	Right-of-use assets relating to mine development, infrastructure and other assets	Total		Total	Right-of-use assets relating to mine development, infrastructure and other assets	Mine development, infrastructure and other assets	Land, mineral rights and rehabilitation assets

				Cost
432.3	10,167.1	373.0	10,972.4	Balance at beginning of the year	11,801.6	526.5	10,850.8	424.3
(12.8)	12.6	(0.1)	(0.3)	Reclassifications	—	(3.1)	10.9	(7.8)
0.4	583.3	—	583.7	Additions	1,088.7	—	1,086.8	1.9
—	1.3	—	1.3	Salares Norte project costs capitalised	7.5	—	7.5	—
—	—	127.2	127.2	Right-of-use assets capitalised during the year (refer note 33)	54.4	54.4	—	—
—	—	12.8	12.8	Remeasurements of right-of-use assets capitalised (refer note 33)1	19.1	19.1	—	—
—	13.2	—	13.2	General borrowing costs capitalised2	12.5	—	12.5	—
—	(8.7)	—	(8.7)	Disposals	(13.4)	—	(13.4)	—
(0.8)	(88.1)	(12.8)	(101.7)	Scrapping of assets	(449.9)	(22.0)	(427.0)	(0.9)
(6.6)	—	—	(6.6)	Changes in estimates of rehabilitation assets	66.1	—	—	66.1
11.8	170.1	26.4	208.3	Translation adjustment	(417.6)	(16.8)	(384.1)	(16.7)
424.3	10,850.8	526.5	11,801.6	Balance at end of the year	12,169.0	558.1	11,144.0	466.9
				Accumulated depreciation and impairment
43.6	6,227.7	44.0	6,315.3	Balance at beginning of the year	7,030.4	97.9	6,860.1	72.4
(0.2)	(0.1)	—	(0.3)	Reclassifications	—	—	—	—
20.2	581.9	59.2	661.3	Charge for the year	713.2	69.8	622.8	20.6
—	—	0.6	0.6	Salares Norte depreciation capitalised	7.0	5.2	1.8	—
—	11.7	—	11.7	Impairment	11.6	—	11.6	—
—	16.9	—	16.9	Write-off of exploration and evaluation assets3	21.3	—	21.3	—
—	(7.8)	—	(7.8)	Disposals	(12.2)	—	(12.2)	—
(0.8)	(88.1)	(12.8)	(101.7)	Scrapping of assets	(449.9)	(22.0)	(427.0)	(0.9)
9.6	117.9	6.9	134.4	Translation adjustment	(231.5)	(4.7)	(227.1)	0.3
72.4	6,860.1	97.9	7,030.4	Balance at end of the year	7,089.9	146.2	6,851.3	92.4
351.9	3,990.7	428.6	4,771.2	Carrying value at end of the year	5,079.1	411.9	4,292.7	374.5

1The re-measurements in 2021 relate mainly to leases at the Group’s Australian operations that have variable payments linked to the Australian consumer price index (“CPI”), as well as the leases relating to Tarkwa's power purchase agreement that changed due to a change in the life-of mine (2020: Leases at the Group’s Australian operations that have variable payments linked to the Australian consumer price index (“CPI”)).

2General borrowing costs of US12.5 million (2020: US$13.2 million) arising on Group general borrowings were capitalised during the period and comprised US$nil (2020: US$12.1 million) borrowings costs related to the Damang reinvestment project and US$12.5 million (2020: US$1.1 million) related to the Salares Norte project. An average interest capitalisation rate of 5.9% (2020: 4.4%) was applied. During 2019 and 2020, capitalisation of borrowing costs ceased for the Gruyere project and the Damang reinvestment project, respectively, due to both projects reaching commercial levels of production. In February 2020, the Salares Norte project was approved by the Board and capital expenditure commenced in April 2020, resulting in capitalisation of borrowing costs from that date.

3The write-off of exploration and evaluation assets is due to specific exploration programmes not yielding results to warrant further exploration at the Group’s Australian operations and the US$21.3 million (2020: US$16.9 million) is included in the US$60.6 million (2020: US$49.7 million) “Exploration expense” in the consolidated income statement.