Annual report pursuant to Section 13 and 15(d)

AMAK Development Costs

v3.20.4
AMAK Development Costs
 12 Months Ended
Dec. 31, 2020
AMAK  
Schedule of Equity Method Investments [Line Items]  
AMAK Development Costs Development Costs
Development costs, net consisted of the following at:
September 30, December 31,
2020 2019
Cost 289,973,237  289,973,237 
Accumulated amortization (191,033,512) (168,705,573)
98,939,725  121,267,664 
Development costs are amortized using the unit of production method upon extraction of the ore. Amortization expenses related to development costs was approximately SR22,328,000, SR34,014,000 and SR36,250,000 for the nine months ended September 30, 2020 and the years ended December 31, 2019 and 2018, respectively.