Document ID: chunk:federal_register_of_legislation:F2021C00708:body:0:p9
Version: federal_register_of_legislation:F2021C00708
Segment Type: other
Provision Reference: 
Character Range: 22174–25347

this Standard starts to apply under section 334 of the Corporations Act (either generally or in relation to an individual entity), the repealed Standard continues to apply in relation to any period ending before that time as if the repeal had not occurred.
[Note: When this Standard applies under section 334 of the Corporations Act (either generally or in relation to an individual entity), it supersedes the application of the repealed Standard.]

Appendix A
Defined terms
This appendix is an integral part of the Standard.

exploration and evaluation assets                    Exploration and evaluation expenditures recognised as assets in accordance with the entity's accounting policy.
exploration and evaluation expenditures              Expenditures incurred by an entity in connection with the exploration for and evaluation of mineral resources before the technical feasibility and commercial viability of extracting a mineral resource are demonstrable.
exploration for and evaluation of mineral resources  The search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and commercial viability of extracting the mineral resource.

Appendix B
Australian defined terms
This appendix is an integral part of the Standard.

area of interest                   An individual geological area which is considered to constitute a favourable environment for the presence of a mineral deposit or an oil or natural gas field, or has been proved to contain such a deposit or field.
economically recoverable reserves  The estimated quantity of product in an area of interest that can be expected to be profitably extracted, processed and sold under current and foreseeable economic conditions

Appendix C
Australian simplified disclosures for Tier 2 entities

This appendix is an integral part of the Standard.

AusC1 Paragraphs 23–25 do not apply to entities preparing general purpose financial statements that apply AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities.

Compilation details
Accounting Standard AASB 6 Exploration for and Evaluation of Mineral Resources (as amended)

Compilation details are not part of AASB 6.

This compiled Standard applies to annual periods beginning on or after 1 July 2021.  It takes into account amendments up to and including 6 March 2020 and was prepared on 8 June 2021 by the staff of the Australian Accounting Standards Board (AASB).

This compilation is not a separate Accounting Standard made by the AASB.  Instead, it is a representation of AASB 6 (August 2015) as amended by other Accounting Standards, which are listed in the table below.

Table of Standards

Standard     Date made    FRL identifier  Commence-ment date  Effective date          Application, saving or transitional provisions
                                                              (annual periods
                                                              … on or after …)

AASB 6       7 Aug