LEASE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of finance lease liabilities [Abstract]

Schedule of Carrying Values of Finance Lease Liabilities

Lease liabilities are payable as follows:

	December 31, 2020 US$’000		December 31, 2019 US$’000
Current liabilities
Lease liabilities related to Right of Use assets		2,054		2,156
Sale and leaseback liabilities		99		248
		2,153		2,404
Non-Current liabilities
Lease liabilities related to Right of Use assets		16,407		17,474
Sale and leaseback liabilities		181		271
		16,588		17,745

Schedule of Finance Lease Liabilities Payable

	December 31, 2020 US$’000						December 31, 2020 US$’000
	Lease liabilities related to Right of Use assets						Sale and leaseback liabilities
	Minimum lease payments		Interest		Principal		Minimum lease payments		Interest		Principal
Less than one year		2,877		823		2,054		111		12		99
In more than one year, but not more than two		2,644		730		1,914		111		7		104
In more than two years but not more than five		6,621		1,765		4,856		79		2		77
more than five years		11,389		1,752		9,637		-		-		-
		23,531		5,070		18,461		301		21		280

	December 31, 2019 US$’000						December 31, 2019 US$’000
	Lease liabilities related to Right of Use assets						Sale and leaseback liabilities
	Minimum lease payments		Interest		Principal		Minimum lease payments		Interest		Principal
Less than one year		3,017		861		2,156		267		19		248
In more than one year, but not more than two		2,787		775		2,012		107		12		95
In more than two years but not more than five		6,700		1,861		4,840		185		9		176
more than five years		12,748		2,126		10,622		-		-		-
		25,252		5,263		19,630		559		40		519

Schedule of Reconciliation of Operating Lease Commitments

The reconciliation of operating lease commitments at December 31, 2018 to the additional lease liabilities recognized on the initial application of IFRS 16 at January 1, 2019 is as follows:

	US$000
Operating Lease commitments at December, 31, 2018 (Note 27)		27,342
Relief option for short term leases		(130	)
Relief option for low value assets		-
Effect of assumed probable lease extension in adoption of IFRS 16		573
Other		(149	)
Gross lease liabilities at January 1, 2019		27,636
Discounting		(6,451	)
Additional Lease liabilities as a result of the initial application of IFRS 16 at January 1, 2019		21,185

Schedule of Lease Payments Not Recognised as Liability

The expense relating to payments not included in the measurement of the lease liability is as follows:

	December 31, 2020		December 31, 2019
	US$000		US$000
Short term leases		-		130
Leases of low value assets		-		-
Variable lease payments		-		-
		-		130

Schedule of Outstanding Interest Bearing Loans and Borrowings

The terms and conditions of outstanding interest bearing loans and borrowings at December 31, 2020 are as follows:

Facility	Currency	Nominal interest rate			Year of maturity		Fair Value		Carrying Value
Sale and leaseback liabilities	Euro		4.53	%		2023		106		106
Sale and leaseback liabilities	USD		5.51	%		2023		174		174
Total interest-bearing loans and borrowings								280		280

The terms and conditions of outstanding interest bearing loans and borrowings at December 31, 2019 are as follows:

Facility	Currency	Nominal interest rate			Year of maturity		Fair Value		Carrying Value
Sale and leaseback liabilities	Euro		4.53	%		2023		286		286
Sale and leaseback liabilities	USD		5.51	%		2023		233		233
Total interest-bearing loans and borrowings								519		519