v3.26.1
RECLAMATION AND CLOSURE COST PROVISIONS
 12 Months Ended
Dec. 31, 2025
Reclamation Obligation [Abstract]  
RECLAMATION AND CLOSURE COST PROVISIONS RECLAMATION AND CLOSURE COST PROVISIONS
NoteCanadaUSANicaraguaMexicoBrazilTotal
Balance – December 31, 2023
$28,833 $32,458 $— $28,576 $45,113 $134,980 
Remeasurement to fair value on Greenstone Acquisition5(c)(1,825)— — — — (1,825)
Assumed on Greenstone Acquisition5(c)13,094 — — — — 13,094 
Change in estimates14,492 1,941 — (3,192)2,271 15,512 
Reclamation expenditures(8,138)— — (377)(919)(9,434)
Accretion1,197 1,267 — 2,466 2,273 7,203 
Foreign exchange(3,171)— — (4,673)(9,540)(17,384)
Balance – December 31, 2024
44,482 35,666 — 22,800 39,198 142,146 
Assumed on Calibre Acquisition5(a)9,911 13,918 51,703 — — 75,532 
Change in estimates31,737 (1,558)7,329 20,147 9,549 67,204 
Disposals5(b)— (14,129)— — — (14,129)
Reclamation expenditures(1,942)— (755)— (1,901)(4,598)
Accretion2,089 1,685 1,282 3,329 3,186 11,571 
Foreign exchange2,082 — — 4,527 4,612 11,221 
Reclassified to liabilities relating to assets held for sale9— — — — (54,644)(54,644)
Balance – December 31, 2025
$88,359 $35,582 $59,559 $50,803 $— $234,303 
At December 3120252024
Classified and presented as:
Current(1)
$4,516 $11,972 
Non-current 229,787 130,174 
$234,303 $142,146 
(1)    Included in other current liabilities.
The Company’s reclamation and closure cost provisions at December 31, 2025 were calculated as the present value of the expected future cash flows estimated using inflation rates of 2.0% to 3.1% (2024 – 2.0% to 4.1%) and discount rates of 2.2% to 9.4% (2024 – 3.0% to 10.6%) depending on the region in which the costs will be incurred. At December 31, 2025, the total undiscounted expected future cash flows of the Company’s reclamation and closure cost provisions were $390.1 million (2024 – $225.4 million).
The Company is required to post security for reclamation and closure costs for certain of its mineral properties. At December 31, 2025, the Company had met its security requirements in the form of bonds posted through surety underwriters totaling $128.9 million (2024 – $90.3 million).