Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 212

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 212
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and equipment are required to be replaced at intervals, the Group recognizes such parts as individual assets with specific useful lives
and depreciates them accordingly.

An item of property,
plant and equipment including any significant part initially recognized is derecognized upon disposal or when no future economic benefits
are expected from its use or disposal. Any gain or loss on disposal or retirement recognized in the statement of profit or loss in the
year the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset.

| (e) | Intangible assets (other than goodwill) |

Intangible assets acquired separately
are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value at the
date of acquisition. The useful lives of intangible assets are assessed to be finite. Intangible assets with finite lives are subsequently
amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired.
The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial
year end.

The following intangible
assets are amortized from the date they are available for use and their estimated useful lives are as follows:

| Schedule of estimated useful lives of intangible assets |     |          |
| Concession right                                        |     | 28 years |
| Patents                                                 |     | 18 years |
| Software                                                |     | 5 years  |

The useful life of the
patents of the Group is determined based on the shorter of their statutory validity periods and the expected benefit periods.

An intangible asset
is derecognized on disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition
(calculated as the difference between the net sale proceeds and the carrying amount of the relevant intangible asset) is included in the
statement of profit or loss.

| F-18 |

| 2.5 |     | MATERIAL ACCOUNTING  
 POLICIES (CONTINUED) |

| (f) | Leases |

The Group assesses
at contract inception whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right
to control the use of an identified asset for a period of time in exchange for consideration.

Group as a lessee

The Group applies a single recognition
and measurement approach