Cost of Asset – NBC Institute

AT – Nov 2023 – L3 – Q5a – Minerals and mining

Advise on what constitutes the cost of an asset at the commencement of commercial production in mineral operations.

Question

ACM Mining Ltd has commenced mining operations in Ghana. It procured heavy-duty machinery and equipment for use in its operations.

Required:
Advise ACM Mining Ltd on what constitutes the cost of an asset at the commencement of commercial production in respect of mineral operations. (5 marks)

Answer

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Tags: Capital Allowance, Cost of Asset, Mineral Operations, Mining, Taxation
Level: Level 3

Topic: Minerals and mining
Series: NOV 2023

Question Tag: Cost of Asset

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AT – Nov 2023 – L3 – Q5a – Minerals and mining

Advise on what constitutes the cost of an asset at the commencement of commercial production in mineral operations.

AT – Nov 2023 – L3 – Q5a – Minerals and mining

Advise on what constitutes the cost of an asset at the commencement of commercial production in mineral operations.

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Question Tag: Cost of Asset

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AT – Nov 2023 – L3 – Q5a – Minerals and mining

Advise on what constitutes the cost of an asset at the commencement of commercial production in mineral operations.

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AT – Nov 2023 – L3 – Q5a – Minerals and mining

Advise on what constitutes the cost of an asset at the commencement of commercial production in mineral operations.

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