Reclamation

9 Months Ended

Sep. 30, 2023

Asset Retirement Obligation Disclosure [Abstract]

RECLAMATION

RECLAMATION

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.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
In thousands	2023		2022		2023		2022
Asset retirement obligation - Beginning	$	207,960	$	184,606	$	202,431	$	180,156
Accretion	4,153		3,564		12,219		10,482
Additions and changes to estimates	(2,682)		—		(2,682)		—
Settlements	(1,415)		(1,507)		(3,952)		(3,975)
Asset retirement obligation - Ending	$	208,016	$	186,663	$	208,016	$	186,663

    The commencement of production from the new leach pad and process plant at Rochester in the third quarter of 2023 resulted in an update to the estimated reclamation and mine closure costs. The estimated reclamation and mine closure costs was discounted using a credit adjusted, risk-free interest rate of 8.4%.