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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [abstract]  
PROPERTY, PLANT AND EQUIPMENT
6.PROPERTY, PLANT AND EQUIPMENT

 

    Buildings     Mining structures and mining rights     Machinery and equipment     Motor vehicles     Construction in progress     Total  
    CNY     CNY     CNY     CNY     CNY     CNY  
Cost                                                
At January 1, 2016     22,996       33,921       7,648       7,319       34,276       106,160  
Additions     —       —       3       —       5,020       5,023  
Transfer     5,515       —       —       —       (5,515 )     —  
Disposals     —       —       —       (311 )     —       (311 )
Exchange adjustment     202       21       3       348       2,279       2,853  
At December 31, 2016     28,713       33,942       7,654       7,356       36,060       113,725  
Acquisition of Bayannaoer Mining     43       —       12       280       —       335  
Additions     —       —       71       —       4,137       4,208  
Disposals     (5,781 )     (4,688 )     (786 )     (2,017 )     —       (13,272 )
Exchange adjustment     (104 )     (21 )     (173 )     (35 )     (2,388 )     (2,721 )
Disposal of subsidiaries     (22,828 )     (29,233 )     (5,939 )     (5,305 )     (37,809 )     (101,114 )
At December 31, 2017     43       —       839       279       —       1,161  
At December 31, 2017 (US$)     6       —       129       44       —       179  

 

Accumulated depreciation and amortization and impairment losses

 

At January 1, 2016     (13,206 )     (33,608 )     (7,485 )     (2,471 )     —       (56,770 )
Depreciation charge     (1,415 )     —       (55 )     (1,185 )     —       (2,655 )
Disposals     —       —       —       301       —       301  
Exchange adjustment     16       —       (1 )     (93 )     —       (78 )
At December 31, 2016     (14,605 )     (33,608 )     (7,541 )     (3,448 )     —       (59,202 )
Depreciation charge     (530 )     —       (25 )     (1,193 )     —       (1,748 )
Disposals     5,121       4,688       715       1,742       —       12,266  
Exchange adjustment     (84 )     —       (69 )     (46 )     —       (199 )
Disposal of subsidiaries     10,098       28,920       6,100        2,941       —       48,059  
At December 31, 2017     —       —       (820 )     (4 )     —       (824 )
At December 31, 2017 (US$)     —       —       (126 )     (1 )     —       (127 )
                                                 
Net carrying amount                                                
At December 31, 2016     14,108       334       113       3,908       36,060       54,523  
At December 31, 2017     43       —       19       275       —       337  
At December 31, 2017 (US$)     6       —       3       43       —       52  

 

An impairment loss on property, plant and equipment of CNY7.54 million of Yangchong Mine was recorded for the year ended December 31, 2015 in connection with the decline of average selling prices of iron concentrates. Yangchong Mine was designated as a single cash-generating unit ("CGU"), which was based predominantly on the value-in-use (“VIU”) approach. VIU calculations use pre-tax cash flow projections. Other key assumptions applied in the impairment tests include the production volume, expected iron price, product cost and related expenses. Management determined that these key assumptions were based on past performance and their expectations on market development. Further, at December 31, 2015, the Group adopted a pre-tax rate of 16.00% that reflects specific risks related to the CGU, as the discount rate. There was no further impairment loss on property, plant and equipment during the years ended December 31, 2016 and 2017.