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Sale of Vila Nova | 12 Months Ended
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Dec. 31, 2020
Disclosure of non-current assets held for sale and discontinued operations [Abstract] |
Sale of Vila Nova | 32. Sale of Vila Nova In June 2019, management committed to a plan to sell its Vila Nova iron ore mine in Brazil, which was placed on care and maintenance in late 2014 pending a recovery in iron ore prices. Accordingly, the mine was presented as a disposal group held for sale. As at December 31, 2019, the disposal group was stated at fair value less costs to sell and comprised the following assets and liabilities.
| December 31, 2019
Cash | $ | 67 |
Accounts receivable and other | 714 |
Property, plant and equipment and iron ore inventory | 11,690 |
Assets held for sale | $ | 12,471 |
Accounts payable and accrued liabilities | $ | 24 |
Asset retirement obligations | 4,233 |
Liabilities associated with assets held for sale | $ | 4,257 |
In September 2020, the Company sold Vila Nova for proceeds of $10,000. As at the date of sale, Vila Nova assets held for sale were $11,800 and liabilities associated with assets held for sale were $4,251, resulting in a gain on disposition of $2,451 recorded in other income.

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- Definition The disclosure of non-current assets or disposal groups classified as held for sale. [Refer: Non-current assets or disposal groups classified as held for sale] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
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