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PROVISIONS | 12 Months Ended
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Dec. 31, 2023
Other provisions [abstract] |
Provisions | Provisions
a) Provisions |  |
| As at December 31, 2023 | As at December 31, 2022
Environmental rehabilitation (“PER”) | $1,883 |  | $2,013 |
Post-retirement benefits | 36 |  | 46 |
Share-based payments | 20 |  | 14 |
Other employee benefits | 36 |  | 36 |
Other | 83 |  | 102 |
| $2,058 |  | $2,211 |
b) Environmental Rehabilitation |  |
| 2023 | 2022
At January 1 | $2,204 |  | $2,725 |
PERs divested during the year 1 | (64) |  | — |
Closed Sites |  |
Impact of revisions to expected cash flows recorded in earnings | 14 |  | (117) |
Settlements |  |
Cash payments | (117) |  | (102) |
Settlement gains | (7) |  | (5) |
Accretion | 29 |  | 23 |
Operating Sites |  |
PER revisions in the year | 91 |  | (317) |
Settlements |  |
Cash payments | (50) |  | (43) |
Settlement gains | (5) |  | (3) |
Accretion | 58 |  | 43 |
At December 31 | $2,153 |  | $2,204 |
Current portion (note 24) | (270) |  | (191) |
| $1,883 |  | $2,013 |
1 Primarily relates to the transfer of our Porgera mine to equity accounting method investment. The eventual settlement of substantially all PERs estimated is expected to take place between 2024 and 2063. The total PER has increased in the fourth quarter of 2023 by $56 million primarily due to a decrease in the discount rate, accretion and changes in cost estimates at our U.S. closure sites, Lumwana, Carlin, Cortez, Tongon and Loulo-Gounkoto properties, partially offset by the transfer of our Porgera mine to equity accounting method investment and spending incurred during the quarter. For the year ended December 31, 2023, our PER balance decreased by $51 million primarily due to spending incurred during the year, an increase in the discount rate, and the transfer of our Porgera mine to equity accounting method investment, partially offset by the changes in cost estimates described above, as well as our Phoenix property mainly driven by its conformance to the Global Industry Standard on Tailings Management, combined with accretion. A 1% increase in the discount rate would result in a decrease in the PER by $200 million and a 1% decrease in the discount rate would result in an increase in the PER by $243 million, while holding the other assumptions constant.

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