15A.     Amounts to be taken into account in respect of trading stock derived from mining operations

For the purposes of section 22, trading stock related to mining operations –

(a)     includes anything that is –

(i)      won or in any other manner acquired during the course of mining operations by a taxpayer for the purposes of extraction, processing, separation, refining, beneficiation, manufacture, sale or exchange by the taxpayer or on the taxpayer’s behalf; and

(ii)     taken into account as inventory in terms of South African Generally Accepted Accounting Practice; and

(b)     must not be valued at an amount less than the amount so taken into account.

16. ……….

17. ……….