Hi Ruotian, These are interesting questions, I will try my best to answer:
- Depletion is separate from depreciation. The mine is being depleted as its deposits dwindle.
- Government approvals would be classed as intangibles and are calculated as amortisation. The service life would be as long as the approval was granted for.
In regards to D&A being so high, $116. I would expect this kind of cost for D&A for a mining operation of WHC's size. They have HUGE capital expenditure requirements each year. I just googled the cost of one of those life size Tonka trucks and it was roughly 3.4m, they would have lots of these and other kinds of equipment vital for their operations. I would say the D&A relates specifically to the D&A, not depletion.
In regards to depletion, WHC do not report on depletion of their resources available to them, with the exception of comments under operating risks and when it has occurred, I was able to find one in the 2013 annual report where ROM was halted because of depletion.
I hope this was helpful, let me know if you have other questions.
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Hi Ruotian, These are interesting questions, I will try my best...
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