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Long-term debt (Tables)
 12 Months Ended
Dec. 31, 2022
Financial Instruments [Abstract]  
Schedule of borrowings Long-term debt consists of the following:

As at December 31As at December 31
(in millions of U.S. dollars)20222021
LONG-TERM DEBT


Senior unsecured notes - due May 15, 2025 (a)— 97.1 
Senior unsecured notes - due July 15, 2027 (b)394.9 393.9 
Credit Facility (c)— — 
Total long-term debt394.9 491.0 
Schedule of applicable redemption prices on 2025 Unsecured Notes During the 12-month period beginning on July 15 of the years indicated at the redemption prices below, expressed as a percentage of the principal amount of the 2027 Unsecured Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date:
Date
Redemption prices (%)
2023103.75 
2024101.88 
2025 and thereafter100.00 
Schedule of significant covenants Significant financial covenants are as follows:
Twelve months ended December 31Twelve months ended December 31
Financial Covenant20222021
FINANCIAL COVENANTS



Minimum interest coverage ratio (Adjusted EBITDA to interest)
>3.0 :1
4.5 : 1
7.2 : 1
Maximum leverage ratio (net debt to Adjusted EBITDA)
<4.5:1
2.1 : 1

0.6: 1
Maximum secured leverage ratio (secured debt to Adjusted EBITDA)
<2.0:1

0.2 : 1

0.1 : 1
Schedule of reconciliation of liabilities arising from financing activities explanatory The following is a summary of the changes in liabilities arising from financing activities for the year ended December 31, 2022:
As at December 31, 2021BorrowingsRepaymentsFair Value changesInterest & AccretionAs at December 31, 2022
Liabilities arising from financing activities
Long-term debt491.0— (100.0)— 3.9394.9
Interest payable14.9— (33.2)— 32.414.1 
Gold stream obligation194.0— (24.0)4.7 — 174.7
New Afton free cash flow interest obligation 467.4 — (12.4)(76.1)— 378.9 
Total1,167.3 — (169.6)(71.4)36.3962.6