30 June 2014 Notes to the Financial Statements NOTE 39. COMMITMENTS Consolidated 30 June 2014 $’000 30 June 2013 $’000 Capital commitments Committed at the reporting date but not recognised as liabilities, payable: Property, plant and equipment 162,893  58,761  Lease commitments - operating Committed at the reporting date but not recognised as liabilities, payable: Within one year 5,262  4,650  One to five years 4,191  9,082  9,453  13,732  Lease commitments - finance Committed at the reporting date and recognised as liabilities, payable: Within one year 4,555  45,181  One to five years 14,152  62,656  Total commitment 18,707  107,837  Less: Future finance charges (1,999) (8,687) Net commitment recognised as liabilities 16,708  99,150  Representing: Lease liability - current (note 21) 4,000  40,376  Lease liability - non-current (note 26) 12,708  58,774  16,708  99,150  Exploration expenditure commitments Committed at the reporting date but not recognised as liabilities, payable: Within one year 6,752  2,398  One to five years 29,624  14,339  More than five years -  7,415  36,376  24,152  Operating lease commitments includes contracted amounts for various retail outlets, warehouses, offices and plant  and equipment under non-cancellable operating leases expiring within one to five years with, in some cases, options  to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated. 88 Mineral Resources Limited Annual Report 2014 Notes to the  Financial  Statements For personal use only