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Update 7 - IFRIC 20 - Stripping costs in the production phase of a surface mine
The February discussion between the Boards focused on the continued objections from constituents to the 2010 ED's proposed 'front-loaded' lessee expenses pattern. There was general agreement among board members that something should be done to address this. They confirmed their previous decision that the lease liability, being a financial liability, should be measured at amortised cost using a rate method, so attention was directed towards measurement of the right of use asset. The Boards could not however agree on which solution to propose.
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