Impairment Loss - The company recognized an impairment loss of approximately $103.2 million for the year ended December 31, 2022[4]. - The impairment loss includes approximately $94.6 million related to the K&S mine's property, plant, and equipment[4]. - The company reported a total impairment of approximately $8.4 million for certain mining assets under construction due to lack of future construction plans[4]. - The impairment loss was recognized in the profit and loss statement for the year ended December 31, 2022[14]. - The company plans to provide additional information regarding the impairment loss for shareholders and investors[10]. - The financial results and impairment details were disclosed in the company's annual report for the year ended December 31, 2022[10]. K&S Mine Performance - The recoverable amount of the K&S mine's assets was estimated at approximately $433.3 million as of December 31, 2022, compared to a carrying amount of approximately $527.9 million[14]. - The average annual production at the K&S mine decreased from 3,176 thousand tons in 2021 to 3,126 thousand tons in 2022[6]. - The company applied the income approach for the valuation of the K&S mine, which is commonly used for mineral assets[12]. - The increase in country risk premiums in Russia and China contributed to a rise in the discount rate used for calculating the K&S mine's cash flow[11]. Economic Indicators - The average price of Platts 65% iron ore was recorded at $131 per ton, a decrease of $9 compared to December 31, 2021[16]. - The nominal pre-tax discount rate increased to 15.66% from 13.48% year-over-year, reflecting changes in market data and risk premiums[16]. - The actual pre-tax discount rate is expected to be 13.39%, up from 11.15% in the previous year, reflecting increased capital costs[16]. - The average exchange rate of the Russian ruble against the US dollar is projected to be 68 in 2023, compared to 75 in 2022[16]. - Inflation rates are expected to be 2.27% in 2023 and 2.33% in 2024, indicating a slight increase in economic pressure[16]. - The average price forecast for iron ore is set at $112.5 for 2028 and beyond, with a consistent decline expected in the short term[16]. - The average exchange rate for the ruble is projected to rise to 85 from 2025 to 2027, indicating a potential depreciation of the currency[16]. - The company anticipates continued downward pressure on iron ore prices in the short term due to market conditions[16]. - The consensus economic forecasts have been adjusted based on new assumptions regarding iron ore prices and inflation rates[17]. Miscellaneous - The company maintains that all other information in the announcement and the 2022 annual report remains unchanged[18].
铁货(01029) - 2023 - 年度业绩