Annual report pursuant to Section 13 and 15(d)

AMAK ASSET RETIREMENT OBLIGATIONS (Tables)

v3.20.1
AMAK ASSET RETIREMENT OBLIGATIONS (Tables) - AMAK
12 Months Ended
Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]  
Deferred Mine Closure Costs
Deferred mine closure costs consisted of the following at:
 
 
 
 
December 31,
 
2019

 
2018

Cost
12,842,625

 
12,842,625

Accumulated amortization
(7,631,120
)
 
(6,886,626
)
 
5,211,505

 
5,955,999

Summary of Changes in Provision for Mine Closure Costs
A summary of changes in our provision for mine closure costs is as follows:
 
 
 
 
 
 
Years Ended December 31,
 
2019

 
2018

 
2017

Balance, beginning of year
16,063,136

 
15,519,938

 
14,995,109

Accretion expense
562,211

 
543,198

 
524,829

Balance, end of year
16,625,347

 
16,063,136

 
15,519,938