Annual report pursuant to Section 13 and 15(d)

AMAK ASSET RETIREMENT OBLIGATIONS (Tables)

v3.19.1
AMAK ASSET RETIREMENT OBLIGATIONS (Tables) - AMAK
 12 Months Ended
Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]  
Deferred Mine Closure Costs
Deferred mine closure costs consisted of the following at:
 
December 31,
 
2018

 
2017

Cost
12,842,625

 
12,842,625

Accumulated amortization
(6,886,626
)
 
(6,142,126
)
 
 
 
 
 
5,955,999


6,700,499

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,
 
2018

 
2017

 
2016

Balance, beginning of year
15,519,938

 
14,995,109

 
14,488,028

Accretion expense
543,198

 
524,829

 
507,081

 
 
 
 
 
 
Balance, end of year
16,063,136


15,519,938


14,995,109