| Schedule of Estimated Useful Lives |
Items of mineral properties, plant and equipment are depreciated based on the estimated economic useful life of each component as follows:
| | | | | | | Buildings | Lessor of life of mine or up to 25 years | | Mining equipment | 4 years / units of production | | Mobile equipment & other assets | 5 years | | Mineral properties | Units of production | | Mine closure and rehabilitation costs | Units of production | | Right of use assets | Shorter of the term of lease and life of asset |
7. Mineral Properties, Plant and Equipment | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Buildings | | Mining Equipment | | Mineral Properties(1) | | Projects in Progress(2) | | Equipment & Other Assets | | Deposit on Projects | | Mine Closure Costs | | Right-of-Use Assets | | Total | Cost: | | | | | | | | | | | | | | | | | | Balance, December 31, 2023 | $ | 37,246 | | | $ | 285,489 | | | $ | 697,808 | | | $ | 419,657 | | | $ | 26,613 | | | $ | 49,542 | | | $ | 18,509 | | | $ | 49,329 | | | $ | 1,584,193 | | Additions(2) | 3,888 | | | 53,331 | | | 82,063 | | | 145,333 | | | 3,986 | | | 25,991 | | | — | | | 18,012 | | | 332,604 | | Capitalized borrowing costs | — | | | — | | | — | | | 36,467 | | | — | | | — | | | — | | | — | | | 36,467 | | Change in estimates | — | | | — | | | — | | | — | | | — | | | — | | | 7,890 | | | — | | | 7,890 | | Disposals | — | | | (3,160) | | | (940) | | | (5) | | | (253) | | | — | | | — | | | (4,450) | | | (8,808) | | Transfers (Note 8) | 4,705 | | | 32,316 | | | 30,585 | | | (2,158) | | | 2,929 | | | (55,906) | | | — | | | (789) | | | 11,682 | | Foreign exchange | (9,246) | | | (73,032) | | | (165,758) | | | (98,237) | | | (6,303) | | | (6,927) | | | (5,063) | | | (12,107) | | | (376,673) | | Balance, December 31, 2024 | 36,593 | | | 294,944 | | | 643,758 | | | 501,057 | | | 26,972 | | | 12,700 | | | 21,336 | | | 49,995 | | | 1,587,355 | | Additions | 1,794 | | | 27,939 | | | 101,503 | | | 104,520 | | | 4,513 | | | 12,318 | | | — | | | 25,007 | | | 277,594 | | Capitalized borrowing costs | — | | | — | | | — | | | 31,773 | | | — | | | — | | | — | | | — | | | 31,773 | | Change in estimates | — | | | — | | | — | | | — | | | — | | | — | | | (4,859) | | | — | | | (4,859) | | Disposals | — | | | (401) | | | — | | | — | | | (16) | | | — | | | — | | | (4,871) | | | (5,288) | | Transfers | 50,050 | | | 133,601 | | | 182,516 | | | (343,387) | | | 254 | | | (23,034) | | | — | | | — | | | — | | Foreign exchange | 5,945 | | | 40,893 | | | 84,505 | | | 44,742 | | | 3,233 | | | 789 | | | 2,594 | | | 6,374 | | | 189,075 | | Balance, December 31, 2025 | $ | 94,382 | | | $ | 496,976 | | | $ | 1,012,282 | | | $ | 338,705 | | | $ | 34,956 | | | $ | 2,773 | | | $ | 19,071 | | | $ | 76,505 | | | $ | 2,075,650 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Buildings | | Mining Equipment | | Mineral Properties(1) | | Projects in Progress(2) | | Equipment & Other Assets | | Deposit on Projects | | Mine Closure Costs | | Right-of-Use Assets | | Total | Accumulated depreciation: | | | | | | | | | | | | | | | | | | Balance, December 31, 2023 | $ | (6,984) | | | $ | (68,917) | | | $ | (209,939) | | | $ | — | | | $ | (9,368) | | | $ | — | | | $ | (6,316) | | | $ | (30,671) | | | $ | (332,195) | | Depreciation expense | (2,022) | | | (25,707) | | | (41,025) | | | — | | | (2,001) | | | — | | | (732) | | | (14,069) | | | $ | (85,556) | | Disposals | — | | | 2,950 | | | — | | | — | | | 62 | | | — | | | — | | | 3,537 | | | $ | 6,549 | | Foreign exchange | 1,787 | | | 17,999 | | | 51,053 | | | — | | | 2,097 | | | — | | | 1,474 | | | 7,931 | | | $ | 82,341 | | Balance, December 31, 2024 | (7,219) | | | (73,675) | | | (199,911) | | | — | | | (9,210) | | | — | | | (5,574) | | | (33,272) | | | (328,861) | | Depreciation expense | (4,985) | | | (39,057) | | | (68,891) | | | — | | | (2,317) | | | — | | | (1,180) | | | (18,167) | | | (134,597) | | Disposals | — | | | 325 | | | — | | | — | | | — | | | — | | | — | | | 3,057 | | | 3,382 | | Foreign exchange | (908) | | | (9,503) | | | (25,062) | | | — | | | (1,052) | | | — | | | (707) | | | (4,288) | | | (41,520) | | Balance, December 31, 2025 | $ | (13,112) | | | $ | (121,910) | | | $ | (293,864) | | | $ | — | | | $ | (12,579) | | | $ | — | | | $ | (7,461) | | | $ | (52,670) | | | $ | (501,596) | | | | | | | | | | | | | | | | | | | | Net book value, December 31, 2024 | $ | 29,374 | | | $ | 221,269 | | | $ | 443,847 | | | $ | 501,057 | | | $ | 17,762 | | | $ | 12,700 | | | $ | 15,762 | | | $ | 16,723 | | | $ | 1,258,494 | | Net book value, December 31, 2025 | $ | 81,270 | | | $ | 375,066 | | | $ | 718,418 | | | $ | 338,705 | | | $ | 22,377 | | | $ | 2,773 | | | $ | 11,610 | | | $ | 23,835 | | | $ | 1,574,054 | |
(1) Mineral properties include $64.7 million (2024 - $57.9 million) of costs on expansion of near-mine resource potential which are not currently being depreciated. (2) Additions to projects in progress was net of $10.1 million in value added taxes that were transferred to other receivables during the year ended December 31, 2024 as a result of the completion of a recoverability assessment.
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