Extractive activities

Date recorded:

Extractive Activities (Agenda Paper 19)


The IASB is considering whether it should replace IFRS 6 Exploration for and Evaluation of Mineral Resources.

The staff are speaking to the national standard-setters who contributed to the Discussion Paper released in 2010 to see what, if anything, has changed since then. Staff are presenting to various groups, including IFASS, ASAF and EEG meetings in October. In November the IASB Research Forum 2018 is being held in Sydney, Australia. Two of the papers focus on extractive industries.

In early 2019, the staff intend to hold education sessions for the Board. The staff will provide the Board with a reminder of the key findings of the Discussion Paper and the feedback received, and provide the Board with an explanation of the key features of extractive activities (exploration, evaluation, development, production and decommissioning) along with the main accounting issues that are associated with these key features.

Staff recommendation

This paper was for information purposes only and the Board was not being asked to make any decisions.


There was limited discussion around this issue. One Board member asked whether the questions in the appendix are only meant for the four national standard-setters listed (Australia, Canada, Norway and South Africa). The Technical Principal confirmed that it would be only those standard-setters initially.  One Board member pointed out that the literature review has been conducted very early in the process which was one of the specific requests of the Board.


No decisions were made.

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