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Whitehaven Coal Limited : Annual Report 2013
149 Whitehaven Coal Limited Annual Report 2013 Notes to the Financial Statements 30 June 2013 20. EXPLORATION AND EVALUATION Consolidated In thousands of AUD Cost Impairment losses Balance at 1 July 2011 9,422 -- Exploration and evaluation expenditure 11,184 -- Acquisitions on business combinations 518,215 -- Disposals (6,640) -- Balance at 30 June 2012 532,181 -- Balance at 1 July 2012 532,181 -- Exploration and evaluation expenditure 12,684 -- Acquisitions on business combinations 29,594 -- Balance at 30 June 2013 574,459 -- Exploration and evaluation assets The recoverability of the carrying amounts of exploration and evaluation assets is dependent on the successful development and commercial exploitation or sale of the respective area of interest. Exploration and evaluation assets include tenements granted by the Queensland State Government which are subject to periodic relinquishment requirements of up to 20% per year. 21. INTANGIBLE ASSETS Consolidated In thousands of AUD 2013 2012 Water access rights 8,539 7,626 Acquired haulage rights 1,300 1,300 Less: accumulated amortisation (854) (701) Marketing commission rights1 6,687 6,687 Less: accumulated amortisation (6,687) (3,083) Goodwill3 90,711 90,711 99,696 102,540 The carrying amounts of water access rights are reviewed at each balance date to determine whether there is any indication of impairment. When reviewing for indicators of impairment, the Group considers mining plans, project approvals and market values, among other factors.
Annual Report 2012