Reclamation

12 Months Ended

Dec. 31, 2023

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 7.2% to 10.0%. The asset retirement obligation increased in 2023 due to overall inflationary impacts, increased reclamation and mine closure costs at Rochester associated with the POA 11 expansion project and additional costs at Wharf and Rochester associated with the existing open pit and leach pad operations. This was partially offset by a decrease at Kensington attributable to the timing of reclamation and mine closure costs resulting from the mine life extension.

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


	Year Ended December 31,
In thousands		2023		2022
Asset retirement obligation - Beginning		$	202,431	$	181,888
Accretion		16,405		14,232
Additions and changes to estimates		991		13,001
Disposition of Sterling/Crown exploration properties		—		(1,840)
Settlements		(5,814)		(4,850)
Asset retirement obligation - Ending (1)		$	214,013	$	202,431

(1) December 31, 2023 includes $11.0 million of asset retirement obligation that is expected to be paid in the next twelve months.