SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2017

Disclosure of operating segments [abstract]

SEGMENT INFORMATION

22. SEGMENT INFORMATION

Prior to the disposal of Wuhu Feishang and Double Grow (Note 3) and acquisition of Bayannaoer Mining (Note 5), the Group operated in operating segments: exploration and mining-non-ferrous metals and copper smelting. As at December 31, 2017, the Company has one operating segment: exploration and mining. The accounting policies for the segment is as described in the summary of significant accounting policies. The Group evaluates performance based on operating earnings of the respective business units. The segment analysis below is provided for the Group's continuing operations, and does not include any amount for discontinued operations, namely the exploration and mining-non-ferrous metals and copper smelting.

Management monitors the results of the Group's operating segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on reportable segment profit/loss, which is a measure of adjusted profit/loss before tax from continuing operations. The adjusted profit/loss before tax from continuing operations is measured consistently with the Group's profit/loss before tax from continuing operations except that interest income, finance costs as well as head office and corporate expenses are excluded from such measurement.

As disclosed in Note 3 to the consolidated financial statements, the Group has disposed of its equity interests of Wuhu Feishang and Double Grow in the exploration and mining-non-ferrous metals segment and copper smelting segment on March 3, 2017 and December 29, 2017, respectively. Accordingly, the exploration and mining-non-ferrous metals segment and copper smelting segment have been classified as discontinued operations and were excluded from the segment information for each of the three years in the period ended December 31, 2017.

For the year ended December 31, 2017, the segment results were as follows:

	CNY
	Exploration and mining		Corporate activities		Total
From continuing operations:
Depreciation and amortization		5		3		8
Operating loss		258		5,946		6,204
Interest income		1		38		39
Finance costs		—		14		14
Loss for the year from continuing operations		257		5,922		6,179
Total assets		705		29,043		29,748
Total liabilities		509		44,744		45,253

	US$
	Exploration and mining	Corporate activities		Total
From continuing operations:
Depreciation and amortization	1		—		1
Operating loss	40		913		953
Interest income	—		6		6
Finance costs	—		2		2
Loss for the year from continuing operations	39		910		949
Total assets	108		4,464		4,572
Total liabilities	78		6,878		6,956

For the year ended December 31, 2016, the segment results were as follows:

	CNY
	Corporate activities		Total
	(Restated)		(Restated)
From continuing operations:
Depreciation and amortization		2		2
Operating loss		4,519		4,519
Interest income		75		75
Finance costs		1		1
Loss for the year from continuing operations		4,445		4,445
Total assets		94,793		94,793
Total liabilities		81,598		81,598

For the year ended December 31, 2015, the segment results were as follows:

	CNY
	Corporate activities		Total
	(Restated)		(Restated)
From continuing operations:
Depreciation and amortization		4		4
Operating loss		3,577		3,577
Interest income		164		164
Finance costs		2		2
Foreign exchange difference, net		354		354
Income tax expense		1,504		1,504
Loss for the year from continuing operations		5,273		5,273
Total assets		111,057		111,057
Total liabilities		128,856		128,856

The reconciliation of loss for the year from continuing operations to net loss is as follows:

	2015			2016			2017			2017
		CNY			CNY			CNY			US$
		(Restated)			(Restated)
Loss for the year from continuing operations		(5,273	)		(4,445	)		(6,179	)		(949	)
Loss for the year from discontinued operations		(36,176	)		(18,591	)		(23,817	)		(3,660	)
Net loss		(41,449	)		(23,036	)		(29,996	)		(4,609	)