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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract] |
Property, plant and equipment | 9. Property, plant and equipment The detail of property, plant and equipment, net of the related accumulated depreciation and impairment in 2018 and 2017 is as follows:
|  |  |  |  |  |  |  | Advances and |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Property, Plant |  |  |  | Other Items of |  |  |  |  |  |
|  |  |  |  |  | Other Fixtures, |  | and Equipment |  |  |  | Property, |  |  |  |  |  |
|  | Land and |  | Plant and |  | Tools and |  | in the Course of |  | Mineral |  | Plant |  | Accumulated |  |  |  |
|  | Buildings |  | Machinery |  | Furniture |  | Construction |  | Reserves |  | and Equipment |  | Depreciation (Note 25.3) |  | Impairment (Note 25.5) |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Balance at January 1, 2017 |  | 191,058 |  | 1,220,055 |  | 5,972 |  | 49,865 |  | 59,989 |  | 32,203 |  | (665,507) |  | (112,029) |  | 781,606
Additions |  | 1,665 |  | 1,849 |  | 2,262 |  | 71,204 |  | — |  | 1,455 |  | (94,051) |  | 104 |  | (15,512)
Disposals and other |  | (202) |  | (56,475) |  | (607) |  | (1,029) |  | — |  | (164) |  | 49,403 |  | — |  | (9,074)
Transfers from/(to) other accounts |  | 5,228 |  | 49,892 |  | 377 |  | (58,480) |  | (90) |  | (58) |  | 3,131 |  | — |  | —
Exchange differences |  | 16,843 |  | 96,709 |  | 450 |  | 9,225 |  | 460 |  | (1,072) |  | (73,575) |  | (5,058) |  | 43,982
Additions to the scope of consolidation |  | 1,648 |  | 97 |  | — |  | 16,985 |  | — |  | — |  | — |  | — |  | 18,730
Transfer from assets and disposal groups classified as held for sale (see Note 29) |  | 35,058 |  | 178,677 |  | 79 |  | 40,814 |  | — |  | — |  | (155,726) |  | (660) |  | 98,242
Balance at December 31, 2017 |  | 251,298 |  | 1,490,804 |  | 8,533 |  | 128,584 |  | 60,359 |  | 32,364 |  | (936,325) |  | (117,643) |  | 917,974
Additions |  | 2,983 |  | 9,104 |  | 12 |  | 99,016 |  | — |  | 4,293 |  | (109,832) |  | (42,846) |  | (37,270)
Disposals and other |  | (4,687) |  | (34,612) |  | (1,084) |  | (2,657) |  | — |  | (587) |  | 35,921 |  | — |  | (7,706)
Transfers from/(to) other accounts |  | 24,823 |  | 69,439 |  | 4,850 |  | (97,086) |  | — |  | 222 |  | (2,248) |  | — |  | —
Exchange differences |  | (10,743) |  | (74,554) |  | (405) |  | (5,941) |  | (951) |  | (383) |  | 48,455 |  | 3,292 |  | (41,230)
Business combinations (Note 5) |  | 6,846 |  | 53,337 |  | 82 |  | 1,790 |  | — |  | 432 |  | — |  | — |  | 62,487
Business disposals |  | (35,211) |  | (26,471) |  | (43) |  | (342) |  | — |  | — |  | 56,674 |  | — |  | (5,393)
Balance at December 31, 2018 |  | 235,309 |  | 1,487,047 |  | 11,945 |  | 123,364 |  | 59,408 |  | 36,341 |  | (907,355) |  | (157,197) |  | 888,862
Additions to the scope of consolidation in 2017 represents the contribution by the non-controlling interest partner, Blue Power Corporation, S.L. (“Blue Power”) to the solar production facility located in Puertollano, Spain. Business combinations in 2018 relates to the assets acquired as part of the acquisition of the Glencore plants in France and Norway, see Note 5. During 2018 the Company disposed of Hidro Nitro Española S.A. which resulted in a net reduction of property, plant and equipment of $5,393 thousand. The net gain on the disposal of the business is disclosed in Note 25.6. During 2018 the Company recognised an impairment of $40,537 thousand in Impairment losses (Electrometallurgy – Other segment) in relation to our solar-grade silicon metal project based in Puertollano, Spain. At the end of 2018 the Company has decided to temporarily suspend investment in the project due to deterioration in the market environment for solar grade silicon (or polysilicon) worldwide. The Company is preserving the technology and know-how in order to be able to finalize the construction of the factory as soon as market circumstances change. The Company continues to recognize these project assets as $39,101 thousand based on the higher of fair value less costs of disposal and value in use. Fair value less costs of disposal related to land and buildings was determined based on recent sales of comparable industrial properties located near the project. Fair value less costs of disposal related to machinery and equipment was determined by assessing the recoverability of the assets to a market participant. At December 31, 2018 and 2017, the Company has property, plant and equipment of $514,625 thousand and $660,960 thousand, respectively, pledged as security for outstanding bank loans and other payables. Finance leases Finance leases held by the Company included in Plant and Machinery at December 31 are as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Lease
|  |  |  | Time |  | Historical |  |  |  | Accumulated |  | Carrying |  | Interest |  | Payments
|  | Life |  | Elapsed |  | Cost |  | Cost |  | Depreciation |  | Amount |  | Payable |  | Outstanding
|  | (Years) |  | (Years) |  | EUR €'000 |  | US $'000 |  | US $'000 |  | US $'000 |  | US $'000 |  | US $'000
December 31, 2018 Hydroelectrical installations |  | 10 |  | 6.6 |  | 109,047 |  | 124,859 |  | (82,940) |  | 41,918 |  | — |  | 65,005
December 31, 2017 Hydroelectrical installations |  | 10 |  | 5.6 |  | 109,047 |  | 130,780 |  | (84,000) |  | 46,780 |  | — |  | 80,639
These assets will revert back to the Spanish State, free of charges, between 2038 and 2060. The costs incurred at the time of the reversal are not deemed to be significant. Commitments At December 31, 2018 and 2017, the Company has capital expenditure commitments totaling $26,935 thousand and $4,598 thousand, respectively, primarily related to maintenance and improvement works at plants.

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