Reclamation

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

Reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties. On an ongoing basis, management evaluates its estimates and assumptions, and future expenditures could differ from current estimates. The estimated reclamation and mine closure costs were discounted using credit adjusted, risk-free interest rates ranging from 6.9% to 10.1%. The asset retirement obligation increased in 2021 due to overall inflationary impacts, increased reclamation and mine closure costs at Rochester associated with work completed to date for POA 11 and additional costs at Wharf and Rochester associated with the existing open pit and leach pad operations.

Changes to the Company’s asset retirement obligations for its operating sites are as follows:


	Year Ended December 31,
In thousands		2021		2020
Asset retirement obligation - Beginning		$	137,120	$	134,398
Accretion		11,815		11,574
Additions and changes in estimates		34,016		(6,132)
Settlements		(3,845)		(2,720)
Asset retirement obligation - Ending		$	179,106	$	137,120

The Company accrued $2.8 million and $2.2 million at each of December 31, 2021 and December 31, 2020, respectively, for reclamation liabilities related to former mining activities, which are included in Reclamation.