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IFRS 6 summary and timeline

A summary of IFRS 6 Exploration For and Evaluation of Mineral Resources, including information on current proposals and a timeline of past amendments, announcements, exposure drafts and consultations.


Looking for the standard?

Practical guidance on this standard is now on our main IFRS 6 Exploration For and Evaluation of Mineral Resources page, with links to eIFRS, the full text standard, eBooks and other resources.

IFRS 6 provides guidance on accounting for exploration and evaluation expenditures, including the recognition of exploration and evaluation assets. The following are specifically excluded from its scope:

  • Expenditures incurred before legal rights of exploration are obtained, and
  • Expenditures incurred after the technical feasibility and commercial viability of extracting a mineral resource are demonstrable.

Exploration and evaluation assets should initially be measured at cost in the statement of financial position (balance sheet). After recognition, either the cost or revaluation model of IAS 16/IAS 38 may be applied. Impairment tests are required when circumstances suggest that the carrying amount of the assets may exceed their recoverable amount.

Current proposals

IFRS 6 was issued as an interim step; the Board has begun a research project to decide whether to start a project to amend IFRS 6 or replace it with a new standard. It is currently deciding the project direction.


Date Update
30 June 2005 IASB issues Amendments to IFRS 1 and IFRS 6
Amendments have no effective date. Amendments to Basis for Conclusions clarify the IASB's intentions with respect to an exemption provided to
first-time adopters of IFRSs who chose to adopt IFRS 6 before 1 January 2006. Original press release archived by Deloitte IAS Plus.
9 December 2004 IASB issues IFRS 6
Effective for periods beginning on or after 1 January 2006.