Abstract
This study examines three major limitations of the historical cost model in the mining industry: the discrepancy between the book value and the actual economic value of resource exploitation rights; the inadequate measurement of environmental restoration and mine closure obligations; and the failure to capture the value of modern technological assets, including drones, software, and artificial intelligence systems. Using a quantitative analysis of the Nui Phao mine case, the study demonstrates that the gap between historical cost and actual economic value may reach 2.49 times. Drawing on the input hierarchy framework under IFRS 13, the study proposes a three-stage transition roadmap, encompassing the standardization of geological data, parallel application, and full integration with international accounting standards. It also provides specific recommendations for state management agencies, training institutions, and mining enterprises.
