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## 34. COMMITMENTS 

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## (a) 

## (b) Operating lease commitments - Company as lessee 

The Company has entered into commercial property leases on office rental and remote area residential accommodation. The Company has entered into commercial leases on office equipment. These operating leases have an average life of between one month and three years with renewal options included in the contracts. The Company also has commercial leases over the tenements in which the mining operations are located. These tenement leases have a life of between six months and twenty one years. In order to maintain current rights to explore and mine the tenements the Consolidated Entity is required to perform minimum exploration work to meet the expenditure requirements specified by the relevant state governing body. There are no restrictions placed on the lessee by entering into these contracts. The operating lease commitments include Joint Venture commitments as disclosed in note 38. 

Future minimum rentals payable under non-cancellable operating leases as at 30 June are as follows: 

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(i) 

(ii) 

(iii) 

## (c) Operating lease commitments - Company as lessor 

The Company has entered into a commercial sub-lease on the above mentioned office space which expired in January 2011. 

