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PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2024
Property, plant and equipment [abstract] |
Property, Plant, and Equipment | n Property, Plant, and Equipment
| Buildings, plant and equipment 1 | Mining property costs subject to depreciation 2,3 | Mining property costs not subject to depreciation 2,4 | Total |
At January 1, 2024 |  |  |  |  |
Net of accumulated depreciation | $6,915 |  | $14,343 |  | $5,158 |  | $26,416 |  |
Additions 5 | 21 |  | 135 |  | 3,092 |  | 3,248 |  |
Capitalized interest | — |  | — |  | 33 |  | 33 |  |
Disposals | (8) |  | — |  | (1) |  | (9) |  |
Depreciation | (1,052) |  | (1,018) |  | — |  | (2,070) |  |
Impairment reversals (charges) | 347 |  | 602 |  | (8) |  | 941 |  |
Transfers 6 | 2,766 |  | 1,023 |  | (3,789) |  | — |  |
At December 31, 2024 | $8,989 |  | $15,085 |  | $4,485 |  | $28,559 |  |
At December 31, 2024 |  |  |  |  |
Cost | $21,773 |  | $35,740 |  | $16,448 |  | $73,961 |  |
Accumulated depreciation and impairments | (12,784) |  | (20,655) |  | (11,963) |  | (45,402) |  |
Net carrying amount – December 31, 2024 | $8,989 |  | $15,085 |  | $4,485 |  | $28,559 |  |
| Buildings, plant and equipment 1 | Mining property costs subject to depreciation 2,3 | Mining property costs not subject to depreciation 2,4 | Total |
At January 1, 2023 |  |  |  |  |
Cost | $18,469 |  | $33,046 |  | $17,027 |  | $68,542 |  |
Accumulated depreciation and impairments | (11,720) |  | (19,046) |  | (11,955) |  | (42,721) |  |
Net carrying amount – January 1, 2023 | $6,749 |  | $14,000 |  | $5,072 |  | $25,821 |  |
Additions 5 | 81 |  | 550 |  | 2,606 |  | 3,237 |  |
Capitalized interest | — |  | — |  | 42 |  | 42 |  |
Disposals 7 | (180) |  | (108) |  | (39) |  | (327) |  |
Depreciation | (902) |  | (1,143) |  | — |  | (2,045) |  |
Impairment charges | (44) |  | (268) |  | — |  | (312) |  |
Transfers 6 | 1,211 |  | 1,312 |  | (2,523) |  | — |  |
At December 31, 2023 | $6,915 |  | $14,343 |  | $5,158 |  | $26,416 |  |
At December 31, 2023 |  |  |  |  |
Cost | $19,121 |  | $34,622 |  | $17,113 |  | $70,856 |  |
Accumulated depreciation and impairments | (12,206) |  | (20,279) |  | (11,955) |  | (44,440) |  |
Net carrying amount – December 31, 2023 | $6,915 |  | $14,343 |  | $5,158 |  | $26,416 |  |
1 Additions include $20 million of right-of-use assets for lease arrangements entered into during the year ended December 31, 2024 (2023: $9 million). Depreciation includes depreciation for leased right-of-use assets of $17 million for the year ended December 31, 2024 (2023: $17 million). The net carrying amount of leased right-of-use assets was $53 million as at December 31, 2024 (2023: $53 million). 2 Includes capitalized reserve acquisition costs, capitalized development costs and capitalized exploration and evaluation costs other than exploration license costs included in intangible assets. 3 Assets subject to depreciation include the following items for production stage properties: acquired mineral reserves and resources, capitalized mine development costs, capitalized stripping and capitalized exploration and evaluation costs. 4 Assets not subject to depreciation include construction-in-progress, projects and acquired mineral resources and exploration potential at operating minesites and development projects. 5 Additions include revisions to the capitalized cost of closure and rehabilitation activities. 6 Primarily relates to non-current assets that are transferred between categories within PP&E once they are placed into service. 7 Includes the transfer of Porgera to equity accounting method investment. Refer to note 4 for further information. a) Mining Property Costs Not Subject to Depreciation
| Carrying amount at Dec. 31, 2024 | Carrying amount at Dec. 31, 2023
Construction-in-progress 1 | $1,856 |  | $2,694 |
Acquired mineral resources and exploration potential | 53 |  | 62 |
Projects |  |
Pascua-Lama | 725 |  | 726 |
Norte Abierto | 686 |  | 678 |
Reko Diq | 914 |  | 746 |
Donlin Gold | 251 |  | 252 |
| $4,485 |  | $5,158 |
1 Represents assets under construction at our operating minesites. b) Changes in Gold and Copper Mineral Life of Mine Plan As part of our annual business cycle, we prepare updated estimates of proven and probable gold and copper mineral reserves and the portion of resources considered probable of economic extraction for each mineral property. This forms the basis for our LOM plans. We prospectively revise calculations of amortization expense for property, plant and equipment amortized using the UOP method, where the denominator is our LOM ounces. The effect of changes in our LOM on amortization expense for 2024 was a $21 million decrease (2023: $31 million decrease). c) Capital Commitments In addition to entering into various operational commitments in the normal course of business, we had commitments of approximately $605 million at December 31, 2024 (2023: $258 million) for construction activities at our sites and projects. d) Other Lease Disclosure The Company leases various buildings, plant and equipment as part of the normal course of operations. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. Refer to note 25 for a lease maturity analysis. Included in net income for 2024 are short-term payments and variable lease payments not included in the measurement of lease liabilities of $9 million (2023: $12 million) and $203 million (2023: $161 million), respectively.

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