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ANNUAL REPORT 2010

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Skip Navigation LinksFinancial Report > Notes to the Consolidated Financial Statements > Note 8. Inventories

note 8. inventories

Consolidated
Note2010
US$M
2009
US$M
Current
Stores and spares (at cost)17.912.8
Stockpiles (at cost) 8.42.3
Work-in-progress (at cost)4.74
Finished goods (at cost)58.438.6
Finished goods (at net realisable value)*19.9-
Third party uranium purchased: Finished goods (at net realisable value)(b)-28.1
Total current inventories at the lower of cost and net realisable value109.385.8

* Inventory transferred out of mine development at net realisable value

(a) Inventory expense

Inventories sold recognised as an expense for the year ended 30 June 2010 totalled US$153.3M (2009: US$66.4M) for the Group. Impairment of inventories included in the cost of sales for the Consolidated Entity is US$Nil (2009:US$Nil).

(b) Inventory expense

During 2009, the uranium held by Paladin Nuclear Ltd, the Company’s marketing entity, was reduced to net realisable value resulting in an impairment loss of US$3.7M for the year.

Non Current
Stockpiles (at cost)(c)40.824.9
Total non current inventories at the lower of cost
and net realisable value
40.824.9

(c) Stockpiles at LHM that are unlikely to be processed within 12 months of the Balance Sheet date.