b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 (Continued)TheUJVisgovernedbytheMineralAgreement Generally,thereisapresumptionthatamajoritydatedApril7,1994,asamended,theUJV ofvotingrightsresultincontrol.Tosupportthisagreementandtheaccountingmanualboth presumption and when the Group has less signedonApril22,2020.InthisUJV,the thanamajorityofthevotingorsimilarrightsofparticipatinginterestis30%forStaatsolie aninvestee,itconsidersallrelevantfactsandand70%forRosebelandthelatterhasbeen circumstances in assessing whether it has power appointedastheUJVoperator. overaninvestee,including:Rosebel,establishedonMay8,2002,isa Thecontractualarrangement(s)withtheothersubsidiaryofIAMGOLDCorporation. voteholdersoftheinvestee;Information on other related party relationships ofRightsarisingfromothercontractualarrangements;StaatsolieanditssubsidiariesisfurtherprovidedinSection 7. TheGroupsvotingrightsandpotentialvotingrights.SECTION 2. TherelevantactivitiesarethosewhichsignificantlyBASIS OF PREPARATION AND OTHERaffectthesubsidiarysreturns.TheabilitytoSIGNIFICANT ACCOUNTING POLICIES approvetheoperatingandcapitalbudgetofasubsidiaryandtheabilitytoappointkeymanagement personnel are decisions that 2.1 BASIS OF PREPARATIONdemonstrate that the Group has the existing rights todirecttherelevantactivitiesofasubsidiary.TheconsolidatedfinancialstatementsofStaatsolieasagrouphavebeenpreparedinaccordance TheGroupreassesseswhetheritcontrolsanwith International Financial Reporting Standardsinvesteeiffactsandcircumstancesindicatethat(IFRS)asissuedbytheInternationalAccounting there are changes to one or more of the three StandardsBoard(IASB). elementsofcontrol.ConsolidationofasubsidiaryTheconsolidatedfinancialstatementshavebeen beginswhentheGroupobtainscontroloverthepreparedonahistoricalcostbasis,exceptfor subsidiaryandceaseswhentheGrouplosesinvestmentpropertiesandfinancialinstruments controlofthesubsidiary.Assets,liabilities,incomethathavebeenmeasuredatfairvalue.The andexpensesofasubsidiaryacquiredordisposedconsolidated statements are presented in USof during the year are included in the consolidated dollars,andallvaluesareroundedtothenearest financialstatementsfromthedatetheGroupgainsthousand(US$1,000),exceptwhenotherwise control until the date the Group ceases to control indicated. thesubsidiary.WheretheGroupsinterestislessthan100percent,theinterestattributabletooutsideshareholdersisreflectedinnon-controllinginterest(NCI).2.2 BASIS OF CONSOLIDATION ProfitorlossandeachcomponentofotherTheconsolidatedfinancialstatementscomprisethe comprehensiveincome(OCI)areattributedtothefinancialstatementsofStaatsolieanditscontrolled equityholdersoftheparentoftheGroupandtosubsidiariesasatDecember31,2021and2020. theNCI,evenifthisresultsintheNCIhavingadeficitbalance.Whennecessary,adjustmentsareControlisachievedwhentheGroupisexposed,or madetothefinancialstatementsofsubsidiarieshasrights,tovariablereturnsfromitsinvolvement tobringtheiraccountingpoliciesintolinewiththewiththeinvesteeandhastheabilitytoaffect Groupsaccountingpolicies.thosereturnsthroughitspowerovertheinvestee. Allintragroupassetsandliabilities,equity,income,Specifically,theGroupcontrolsaninvesteeif,and expensesandcashflowsrelatingtotransactionsonlyif,theGrouphasallofthefollowing: betweenmembersoftheGroupareeliminatedin1.P owerovertheinvestee(i.e.existingrightsthat full on consolidation.giveitthecurrentabilitytodirecttherelevant Achangeintheownershipinterestofasubsidiary,activitiesoftheinvestee); withoutalossofcontrol,isaccountedforasanequitytransaction.2.Exposureorrightstovariablereturnsfromits IftheGrouplosescontroloverasubsidiary,involvementwiththeinvestee; itderecognizestherelatedassets(including3.Theabilitytouseitspowerovertheinvesteeto goodwill),liabilities,non-controllinginterestandaffect its returns. othercomponentsofequitywhileanyresultantgainorlossisrecognizedinprofitorloss.Anyinvestmentretainedisrecognizedatfairvalue.75'