Extractive activities

Date recorded:

As this was an oral update, the staff did not prepare any agenda papers for this session.

Oral Update

The national standard-setters have requested a summary of changes in extractive activities since the 2010 Discussion Paper (DP) and how those changes impact the research findings in the DP. The staff are performing research on certain topics, these topics include the Conceptual Framework, new Standards, the disclosure initiative, changes in the reserve and resource classification system and implementation of the ‘publish what you pay’ policy. Those will be discussed at future Board meetings. The research is focusing on the main topics in extractive activities, i.e. exploration, evaluation, development, production and decommissioning.


One Board member suggested that any research activities should also include the evolution of reporting under IFRS 6 Exploration for and Evaluation of Mineral Resources and the inclusion of investors in any discussions. The staff confirmed that they are planning to assess the application of IFRS 6 and that they are planning to conduct outreach.

One Board member reported from the IASB’s 2018 research forum in Australia. The forum included a half day on extractive activities. Many stakeholders contributed to a good summary that can be used in research. The Board member highlighted that there are many cross-cutting issues with other projects.

The Chairman asked whether preparers also have an appetite for the project, which was confirmed by the staff. He also stressed that the project will have to provide an early-on high-level cost-benefit analysis.

No decisions were made.

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