Annual report pursuant to Section 13 and 15(d)

AMAK DEVELOPMENT COSTS

v3.19.1
AMAK DEVELOPMENT COSTS
12 Months Ended
Dec. 31, 2018
AMAK  
Schedule of Equity Method Investments [Line Items]  
DEVELOPMENT COSTS
Development Costs
Development costs, net consisted of the following at:
 
December 31,
 
2018

 
2017

Cost
289,973,237

 
289,973,237

Accumulated amortization
(134,691,712
)
 
(98,445,057
)
 
 
 
 
 
155,281,525


191,528,180


Development costs are amortized using the unit of production method upon extraction of the ore. Amortization expenses related to development costs was approximately SR36,250,000 and SR 18,200,000 for the year ended December 31, 2018 and 2017, respectively.