IFRS 16 impact on the mining and materials industry

How IFRS 16 impacts the mining and materials industry

It is common for entities within the mining and materials sector to lease a substantial number of big-ticket assets that are impacted by IFRS 16, such as: excavators, conveyor equipment, underground crushers, storage warehouses, material handling equipment and trucks. 

Under the IFRS 16 standard, many of these assets and liabilities need to be brought onto a lessee’s balance sheet. This guide will provide you with information about the implications of IFRS 16 for the mining and materials industry. It will answer all your questions related to:

• Main changes
• Definition of a lease
• The impacts on the mining and materials industry
• Industry examples