Annual Report 2000 in PDF - Antofagasta plc

Notes to the Financial Statements20 Provisions for Liabilities and ChargesUS DollarsDecommissioningand site Severance Deferredrehabilitation indemnities tax TotalUS$m US$m US$m US$mAt 1 January 2000 (restated) 3.1 7.2 7.0 17.3Acquisition – 1.7 – 1.7Charge to operating profit in year 1.0 2.7 – 3.7Release of discount to net interest in year 0.3 (1.5) – (1.2)Charge to tax on profit in the year – – 27.0 27.0Utilised in the year – (0.8) (0.7) (1.5)Capitalised to fixed assets 0.9 – – 0.9Exchange – (0.4) (0.1) (0.5)At 31 December 2000 5.3 8.9 33.2 47.4SterlingDecommissioningand site Severance Deferredrehabilitation indemnities tax Total£m £m £m £mAt 1 January 2000 (restated) 1.9 4.5 4.3 10.7Acquisition – 1.1 – 1.1Charge to operating profit in year 0.7 1.8 – 2.5Release of discount to net interest in year 0.2 (1.0) – (0.8)Charge to tax on profit in the year – – 17.7 17.7Utilised in the year – (0.5) (0.4) (0.9)Capitalised to fixed assets 0.6 – – 0.6Exchange 0.1 – 0.6 0.7At 31 December 2000 3.5 5.9 22.2 31.6ANTOFAGASTA PLC Annual Report 2000Provision is made for site rehabilitation and decommissioning costs relating to existing mining operations to the extentthat a legal or constructive obligation exists. Such costs are expected to be incurred between 2007 and 2029. Provisionspayable on closure are estimated on the basis of the discounted value of amounts spent at the end of the life of the mine.68