
17			DECOMMISSIONING LIABILITIES



Current and non-current portion December 31, 2023			$136.8
Liability assumed on Argonaut acquisition (Note 6)			18.0
Reclamation expenditures			(10.6)
Accretion expense			8.9
Revisions to expected discounted cash flows1			2.8
Foreign exchange revaluation			(4.3)
Current and non-current portion December 31, 2024			$151.6

Reclamation expenditures			(12.2)
Accretion expense			9.6
Revisions to expected discounted cash flows1			11.2
Foreign exchange revaluation			1.3
Current and non-current portion December 31, 2025			$161.5
Less: Current portion of decommissioning liability			(8.1)
Non-current portion December 31, 2025			$153.4

1. Included in the revisions to expected discounted cash flows for the year ended December 31, 2025 are costs of $0.6 million related to closed sites with a corresponding expense recorded in Other Loss (Note 21) (year ended December 31, 2024 - $0.2 million).

All of the expenditures are expected to occur between 2026 and 2069. The discount rates used in discounting the estimated reclamation and closure cost obligations were between 3.9% and 7.7% for the year ended December 31, 2025 (2024 – 3.3% and 8.6%), and the inflation rate used was between 2.0% and 3.7% for the year ended December 31, 2025 (2024 – 1.8% and 3.7%).