Reclamation and Closure Cost Provisions

12 Months Ended

Dec. 31, 2024


	Note	Canada		USA		Mexico		Brazil		Total
Balance – December 31, 2022		$	5,717	$	27,731	$	31,393	$	33,875	$	98,716
Accretion		228		1,002		2,993		2,041		6,264
Change in estimates		22,168		3,725		(9,687)		6,979		23,185
Reclamation expenditures		(64)		—		(435)		(1,021)		(1,520)
Foreign exchange loss		33		—		4,312		3,239		7,584
Foreign currency translation		751		—		—		—		751
Balance – December 31, 2023		28,833		32,458		28,576		45,113		134,980
Assumed on Greenstone Acquisition	5	11,269		—		—		—		11,269
Accretion		1,197		1,267		2,466		2,273		7,203
Change in estimates		14,492		1,941		(3,192)		2,271		15,512
Reclamation expenditures		(8,138)		—		(377)		(919)		(9,434)
Foreign exchange loss		(1,301)		—		(4,673)		(9,540)		(15,514)
Foreign currency translation		(1,870)		—		—		—		(1,870)
Balance – December 31, 2024		$	44,482	$	35,666	$	22,800	$	39,198	$	142,146

At December 31								2024		2023
Classified and presented as:
Current(1)								$	11,972	$	14,897
Non-current								130,174		120,083
Total reclamation and closure cost provisions								$	142,146	$	134,980

(1) Included in other current liabilities.

15. RECLAMATION AND CLOSURE COST PROVISIONS (CONTINUED)

The Company’s reclamation and closure cost provisions at December 31, 2024 were calculated as the present value of the expected future cash flows estimated using inflation rates of 2.0% to 4.1% (2023 – 2.0% to 3.5%) and discount rates of 3.0% to 10.6% (2023 – 3.0% to 9.0%) depending on the region in which the costs will be incurred. At December 31, 2024, the total undiscounted expected future cash flows of the Company’s reclamation and closure cost provisions were $225.4 million (2023 – $214.9 million).

The Company is required to post security for reclamation and closure costs for certain of its mineral properties. At December 31, 2024, the Company had met its security requirements in the form of bonds posted through surety underwriters totaling $90.3 million (2023 – $54.6 million).