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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2017
Property Plant And Equipment [Abstract] |
Property, plant and equipment | 14 Property, plant and equipment
|  | Mining |  | Land |  | Plant |  | Capital |  |  |  |
|  | properties |  | and |  | and |  | works in |  |  |  |
|  | and leases (a) |  | buildings (b) |  | equipment |  | progress |  | Total |
Year ended 31 December 2017 | Note | US$m |  | US$m |  | US$m |  | US$m |  | US$m |
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2017 |  |  | 10,848 |  |  | 7,316 |  |  | 35,706 |  |  | 4,985 |  |  | 58,855 |
Adjustment on currency translation (c) |  |  | 495 |  |  | 461 |  |  | 2,242 |  |  | 183 |  |  | 3,381 |
Adjustments to capitalised closure costs | 26 |  | 710 |  |  | - |  |  | - |  |  | - |  |  | 710 |
Interest capitalised (d) | 8 |  | - |  |  | - |  |  | - |  |  | 224 |  |  | 224 |
Additions |  |  | 230 |  |  | 41 |  |  | 646 |  |  | 3,834 |  |  | 4,751 |
Depreciation for the year (a) (e) |  |  | (673 | ) |  | (403 | ) |  | (3,122 | ) |  | - |  |  | (4,198 | )
Impairment charges, net of reversals (f) |  |  | (304 | ) |  | (2 | ) |  | (128 | ) |  | (1 | ) |  | (435 | )
Disposals |  |  | - |  |  | (57 | ) |  | (40 | ) |  | (26 | ) |  | (123 | )
Subsidiaries no longer consolidated (g) |  |  | (211 | ) |  | (95 | ) |  | (417 | ) |  | (26 | ) |  | (749 | )
Transfers and other movements (h) |  |  | 393 |  |  | 115 |  |  | 1,398 |  |  | (2,229 | ) |  | (323 | )
At 31 December 2017 |  |  | 11,488 |  |  | 7,376 |  |  | 36,285 |  |  | 6,944 |  |  | 62,093 |
– cost |  |  | 24,691 |  |  | 12,029 |  |  | 71,903 |  |  | 7,266 |  |  | 115,889 |
– accumulated depreciation and impairment |  |  | (13,203 | ) |  | (4,653 | ) |  | (35,618 | ) |  | (322 | ) |  | (53,796 | )
Non-current assets held under finance leases (i) |  |  | - |  |  | - |  |  | 37 |  |  | - |  |  | 37 |
Non-current assets pledged as security (j) |  |  | 3,307 |  |  | 410 |  |  | 5,308 |  |  | 3,278 |  |  | 12,303 |
|  | Mining |  | Land |  | Plant |  | Capital |  |  |  |
|  | properties |  | and |  | and |  | works in |  |  |  |
|  | and leases (a) |  | buildings (b) |  | equipment |  | progress |  | Total |
Year ended 31 December 2016 | Note | US$m |  | US$m |  | US$m |  | US$m |  | US$m |
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2016 |  |  | 11,146 |  |  | 7,571 |  |  | 37,900 |  |  | 4,440 |  |  | 61,057 |
Adjustment on currency translation |  |  | 137 |  |  | 62 |  |  | 138 |  |  | 16 |  |  | 353 |
Adjustments to capitalised closure costs | 26 |  | (123 | ) |  | - |  |  | - |  |  | - |  |  | (123 | )
Interest capitalised (d) | 8 |  | - |  |  | - |  |  | - |  |  | 111 |  |  | 111 |
Additions |  |  | 237 |  |  | 47 |  |  | 537 |  |  | 2,307 |  |  | 3,128 |
Depreciation for the year (a) (e) |  |  | (760 | ) |  | (429 | ) |  | (3,378 | ) |  | - |  |  | (4,567 | )
Impairment charges, net of reversals (f) |  |  | (130 | ) |  | - |  |  | (112 | ) |  | (6 | ) |  | (248 | )
Disposals |  |  | (3 | ) |  | (169 | ) |  | (86 | ) |  | - |  |  | (258 | )
Subsidiaries no longer consolidated |  |  | (40 | ) |  | (88 | ) |  | (217 | ) |  | (14 | ) |  | (359 | )
Transfers and other movements (h) |  |  | 384 |  |  | 322 |  |  | 924 |  |  | (1,869 | ) |  | (239 | )
At 31 December 2016 |  |  | 10,848 |  |  | 7,316 |  |  | 35,706 |  |  | 4,985 |  |  | 58,855 |
– cost |  |  | 22,989 |  |  | 11,444 |  |  | 68,030 |  |  | 5,374 |  |  | 107,837 |
– accumulated depreciation and impairment |  |  | (12,141 | ) |  | (4,128 | ) |  | (32,324 | ) |  | (389 | ) |  | (48,982 | )
Non-current assets held under finance leases (i) |  |  | - |  |  | - |  |  | 38 |  |  | - |  |  | 38 |
Non-current assets pledged as security (j) |  |  | 3,310 |  |  | 423 |  |  | 5,332 |  |  | 2,104 |  |  | 11,169 |
(a) | At 31 December 2017, the net book value of capitalised production phase stripping costs totalled US$1,815 million, with US$1,374 million within Property, plant and equipment and a further US$441 million within Investments in equity accounted units (2016 total of US$1,967 million with US$1,511 million in Property, plant and equipment and a further US$456 million within Investments in equity accounted units). During the year capitalisation of US$327 million was partly offset by depreciation of US$299 million (including amounts recorded within equity accounted units). Depreciation of deferred stripping costs in respect of subsidiaries of US$194 million (2016: US$203 million; 2015: US$173 million) is included within “Depreciation for the year”.
(b) | At 31 December 2017, the net book value amount for land and buildings includes freehold US$7,294 million (2016: US$7,276 million) and long leasehold US$82 million (2016: US$40 million).
(c) | Adjustment on currency translation represents the impact of exchange differences arising on the translation of the assets of entities with functional currencies other than the US dollar, recognised directly in the currency translation reserve. The adjustment in 2017 arose from the weakening of the US dollar against other currencies.
(d) | Interest is capitalised at a rate based on the Group or relevant subsidiary’s cost of borrowing or at the rate on project specific debt, where applicable. The Group’s average borrowing rate used for capitalisation of interest is 4.45 per cent (2016: 4.2 per cent).
(e) | Assets within operations for which production is not expected to fluctuate significantly from one year to another or which have a physical life shorter than the related mine are depreciated on a straight-line basis as follows:
Land and buildings Land: not depreciated Buildings: five to 50 years Plant and equipment Other plant and equipment: three to 50 years Power assets: 25 to 50 years Capital work in progress: not depreciated
(f) | During 2017, impairment charges primarily related to Arygle Diamonds and Rössing Uranium (see note 6). During 2016, impairment charges primarily related to Argyle Diamonds.
(g) | During 2017, “Subsidiaries no longer consolidated” relates primarily to the disposal of Coal & Allied Industries Limited which completed on 1 September 2017 (see note 37).
(h) | “Transfers and other movements” includes reclassifications between categories, including transfers to assets of disposal groups held for sale.
(i) | The finance leases under which these assets are held are disclosed in note 23.
(j) | Excludes assets held under finance leases. Non-current assets pledged as security represent amounts pledged as collateral against US$4,677 million (2016: US$4,783 million) of loans, which are included in note 22.

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