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Property and Equipment and Right-of-Use Assets

12 Months Ended

Dec. 31, 2023

Property and Equipment and Right-of-Use Assets [Abstract]

Property and equipment and right-of-use assets

13. Property and equipment and right-of-use assets

Lifezone’s property and equipment and right-of-use assets include building, transportation equipment, and office and computer equipment. The carrying amounts for the reporting periods can be analyzed as follows:

	Buildings			Transportation equipment			Office and computer equipment			Laboratory and testing equipment			Total Property and equipment			Right-of-use assets			Total
	$			$			$			$			$			$			$
Cost
As at January 1, 2022		932,623			41,457			52,292			-			1,026,372			-			1,026,372
Additions		-			82,495			202,369			-			284,864			469,743			754,607
Disposals for the period		(255,346	)		-			(16,445	)		-			(271,791	)		-			(271,791	)
As at December 31, 2022		677,277			123,952			238,216			-			1,039,445			469,743			1,509,188

Accumulated depreciation
As at January 1, 2022		(14,713	)		(7,773	)		(3,041	)		-			(25,527	)		-			(25,527	)
Charge		(22,068	)		(36,639	)		(70,889	)		-			(129,596	)		(117,436	)		(247,032	)
As at December 31, 2022		(36,781	)		(44,412	)		(73,930	)		-			(155,123	)		(117,436	)		(272,559	)
Cost
As at January 1, 2023		677,277			123,952			238,216			-			1,039,445			469,743			1,509,188
Additions from acquisitions		-			-			220,698			4,704,783			4,925,481			464,264			5,389,745
Foreign exchange impact		-			-			1,419			16,664			18,082			-			18,082
Additions		-			75,551			621,732			148			697,431			1,230,792			1,928,222
As at December 31, 2023		677,277			199,503			1,082,064			4,721,595			6,680,439			2,164,799			8,845,238

Accumulated depreciation
As at January 1, 2023		(36,781	)		(44,412	)		(73,930	)		-			(155,123	)		(117,436	)		(272,559	)
Foreign exchange impact		-			-			(300	)		-			(300	)		-			(300	)
Charge		(22,068	)		(66,839	)		(42,298	)		(393,454	)		(524,659	)		(353,851	)		(878,510	)
As at December 31, 2023		(58,849	)		(111,251	)		(116,528	)		(393,454	)		(680,082	)		(471,287	)		(1,151,369	)

Net book value:
As at December 31, 2022		640,496			79,540			164,286			-			884,322			352,307			1,236,629
As at December 31, 2023		618,428			88,252			965,536			4,328,141			6,000,357			1,693,512			7,693,869

In 2022 Lifezone disposed of certain buildings and office and computer equipment with a carrying value of $271,791. These assets relate to the Tanzanian operations deemed no longer in use. Lifezone recognized a loss on disposal of property and equipment amounting to $271,791 in the Statement of Comprehensive Income. There were no disposals during the year ended December 31, 2023.

Non-cash additions of $1,695,056 relating to new leased office space across the business were recognized in the year ended December 31, 2023, as disclosed in Note 21.