Asset Retirement Obligation

9 Months Ended

Sep. 30, 2023

Asset Retirement Obligation Disclosure [Abstract]

The following table summarizes changes in the Company’s Asset retirement obligation (“ARO”) (in thousands):


	September 30, 2023		December 31, 2022
Balance, beginning of period	$	10,302	$	5,193
Accretion	558		408
Change in estimates	—		4,701
Balance, end of period	$	10,860	$	10,302

During the three and nine months ended September 30, 2023, the Company did not incur additional reclamation obligations associated with additional disturbances, other regulatory requirements, or changes in estimates. The Company estimates that no significant reclamation expenditures associated with the ARO will be made until 2024 and that reclamation work will be completed by the end of 2065. During the three and nine months ended September 30, 2023, there were no events or changes to the Company’s regulatory environment, new or additional disturbances, or changes in investments that would require a change to the Company’s ARO. As a result, the Company did not record any adjustments to the ARO.