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## 22. INTANGIBLE ASSETS (NON-CURRENT) 

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## Description of the Consolidated Entity’s intangible assets 

## Development costs 

Development costs are carried at cost less accumulated amortisation and accumulated impairment losses. This intangible asset is still in the development stage. It has been assessed as having a finite life and will be amortised using the straight line method over the life of the project. This intangible asset relates to the Rentails Development Project. 

## Nickel royalties 

Nickel royalties are carried at cost less accumulated amortisation and accumulated impairment losses. These intangible assets have been assessed as having a finite life and are amortised using the units of production method over the life of the assets. The amortisation has been recognised in the income statement in the line “cost of sales”. If an impairment indication arises, the recoverable amount is estimated and an impairment loss is recognised to the extent that the recoverable amount is lower than the carrying amount. 

Intangible assets (nickel royalties) were disposed of by the Consolidated Entity during the previous year. 

