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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Financial instruments [Abstract]  
Disclosure of financial assets by categories Financial assets and liabilities by categories:
December 31, 2024Amortized costFVTPLFVTOCITotal
Financial Assets:  
Cash and cash equivalents$862.8 $ $ $862.8 
Trade receivables from provisional concentrates sales (1)
 31.2  31.2 
Receivable not arising from sale of metal concentrates (1)
127.3   127.3 
Investments 23.7 0.8 24.5 
Contingent Consideration (Note 9) (2)
 36.8  36.8 
$990.1 $91.7 $0.8 $1,082.6 
Financial Liabilities:
Derivative liabilities
$ $12.8 $ $12.8 
Debt$708.8 $ $ $708.8 
(1)Included in Trade and other receivables.
(2)Included in Other long-term assets.
December 31, 2023Amortized costFVTPLFVTOCITotal
Financial Assets:  
Cash and cash equivalents$399.6 $— $— $399.6 
Trade receivables from provisional concentrates sales (1)
— 17.5 — 17.5 
Receivable not arising from sale of metal concentrates (1)
110.1 — — 110.1 
Investments— 38.1 3.2 41.3 
Derivative assets (2)
— 6.9 — 6.9 
$509.7 $62.5 $3.2 $575.4 
Financial Liabilities:
Derivative liabilities$— $0.1 $— $0.1 
Debt$703.7 $— $— $703.7 
(1)Included in Trade and other receivables.
(2)Included in Other assets and Other liabilities.
Disclosure of financial liabilities by categories Financial assets and liabilities by categories:
December 31, 2024Amortized costFVTPLFVTOCITotal
Financial Assets:  
Cash and cash equivalents$862.8 $ $ $862.8 
Trade receivables from provisional concentrates sales (1)
 31.2  31.2 
Receivable not arising from sale of metal concentrates (1)
127.3   127.3 
Investments 23.7 0.8 24.5 
Contingent Consideration (Note 9) (2)
 36.8  36.8 
$990.1 $91.7 $0.8 $1,082.6 
Financial Liabilities:
Derivative liabilities
$ $12.8 $ $12.8 
Debt$708.8 $ $ $708.8 
(1)Included in Trade and other receivables.
(2)Included in Other long-term assets.
December 31, 2023Amortized costFVTPLFVTOCITotal
Financial Assets:  
Cash and cash equivalents$399.6 $— $— $399.6 
Trade receivables from provisional concentrates sales (1)
— 17.5 — 17.5 
Receivable not arising from sale of metal concentrates (1)
110.1 — — 110.1 
Investments— 38.1 3.2 41.3 
Derivative assets (2)
— 6.9 — 6.9 
$509.7 $62.5 $3.2 $575.4 
Financial Liabilities:
Derivative liabilities$— $0.1 $— $0.1 
Debt$703.7 $— $— $703.7 
(1)Included in Trade and other receivables.
(2)Included in Other assets and Other liabilities.
Disclosure of financial instruments at fair value through profit or loss The losses from investments recorded at FVTPL for the year ended December 31, 2024 and 2023 were as follows:
 20242023
Unrealized losses on investments$(14.3)$(6.5)
Realized gains on investments 1.0 
 $(14.3)$(5.5)
The losses and gains on derivatives for the year ended December 31, 2024 and 2023 were comprised of the following:
 20242023
Realized (losses) gains on derivatives$(5.5)$13.8 
Unrealized losses on derivatives(19.6)(5.5)
 $(25.1)$8.3 
Disclosure of financial instruments designated at fair value through profit or loss The losses from the Company's investments recorded at FVTOCI for the year ended December 31, 2024 and 2023 were as follows:
 20242023
Unrealized losses on investments$(0.5)$(5.4)
Realized gains (losses) on investments (1)
0.1 (18.8)
$(0.4)$(24.2)
(1)Excludes income tax expense of $nil, recorded through OCI, related to investments for the year ended December 31, 2024 (2023 - $0.5 million).
Disclosure of assets and liabilities in the fair value hierarchy
The levels in the fair value hierarchy into which the Company’s financial assets and liabilities that are measured and recognized on the SFP at fair value on a recurring basis were categorized as follows:
 At December 31, 2024At December 31, 2023
 Level 1Level 2Level 3Level 1Level 2Level 3
Assets and Liabilities:    
 Investments (Note 11)$24.5 $ $ $41.3 $— $— 
Trade receivables from provisional concentrate sales 31.2  — 17.5 — 
Derivative assets (1)
   — 6.9 — 
Contingent Consideration (Note 9) (1)
  36.8 — — — 
Derivative liabilities (12.8) — (0.1)— 
 $24.5 $18.4 $36.8 $41.3 $24.3 $— 
(1)Included in Other assets and Other liabilities.
Disclosure of credit risk exposure
Cash and cash equivalents, trade accounts receivable and other receivables that represent the maximum credit risk to the Company consist of the following: 
 December 31,
2024
December 31,
2023
Cash and cash equivalents$862.8 $399.6 
Trade accounts receivable (1)
31.2 17.5 
Supplier advances (1)
6.7 10.4 
(1)Included in Trade and other receivables.
Disclosure of maturity analysis for derivative financial liabilities The following tables summarize the remaining contractual maturities of the Company's financial liabilities and operating and capital commitments on an undiscounted basis:
Payments due by period December 31, 2024
 Within 1 year2 - 3 years4- 5 years
After 5
years
Total
Accounts payable and accrued liabilities other than:$471.4 $ $ $ $471.4 
Severance liabilities7.6 12.5 7.9 32.4 60.4 
Payroll liabilities10.4    10.4 
Total accounts payable and accrued liabilities489.4 12.5 7.9 32.4 542.2 
Income tax payables102.1    102.1 
Other liabilities12.8    12.8 
Debt
  Repayment of principal6.8 282.5  419.5 708.8 
  Interest and standby fees28.9 56.8 28.5 21.4 135.6 
Provisions (1)(2)
5.4 9.0 2.4 7.3 24.1 
Future payroll liabilities1.7 27.0  2.7 31.4 
Total contractual obligations (2)
$647.1 $387.8 $38.8 $483.3 $1,557.0 
(1)Total litigation provision (Note 18).
(2)Amounts above do not include payments related to closure and decommissioning (current $27.7 million, long-term $410.6 million) discussed in Note 18, and lease obligations discussed in Note 19.
Payments due by period December 31, 2023
 Within 1 year2 - 3 years4- 5 years
After 5
years
Total
Accounts payable and accrued liabilities other than:$491.0 $— $— $— $491.0 
Severance liabilities2.1 17.2 9.0 32.2 60.5 
Payroll liabilities4.9 — — — 4.9 
Total accounts payable and accrued liabilities498.0 17.2 9.0 32.2 556.4 
Income tax payables32.1 — — — 32.1 
Debt
  Repayment of principal6.7 11.9 275.3 409.8 703.7 
  Interest and standby fees29.1 57.6 43.4 34.5 164.6 
Provisions (1)(2)
4.0 14.0 1.2 7.7 26.9 
Future payroll liabilities2.5 17.0 — 1.8 21.3 
Total contractual obligations (2)
$572.4 $117.7 $328.9 $486.0 $1,505.0 
(1)Total litigation provision (Note 18).
(2)Amounts above do not include payments related to closure and decommissioning (current $37.6 million, long-term $409.5 million) discussed in Note 18, and lease obligations discussed in Note 19.
Disclosure of exposure to currency risk through financial assets and liabilities
The Company is exposed to currency risk through the following financial assets and liabilities, and deferred tax assets and liabilities denominated in foreign currencies:
At December 31, 2024Cash and investmentsOther current and
non-current
assets
Income taxes
receivable
(payable),
current and non-
current
Accounts payable
and accrued
liabilities and non-
current liabilities
Deferred tax
assets and  
liabilities
Canadian dollar$40.3 $6.5 $(7.2)$(67.2)$(8.6)
Mexican peso7.9 19.9 12.8 (28.4)12.7 
Argentine peso0.1 43.6 0.6 (73.7)(10.4)
Bolivian boliviano10.0 8.7 (18.0)(7.0)(0.2)
European euro   (0.1) 
Peruvian sol2.9 25.2 (31.6)(39.8)(55.3)
Guatemala quetzal0.1 0.1  (6.2) 
Chilean peso6.6 5.5 (15.9)(77.1)(61.3)
Brazilian real1.1 3.9 (14.5)(42.9)(352.4)
 $69.0 $113.4 $(73.8)$(342.4)$(475.5)
At December 31, 2023Cash and investmentsOther current and
non-current
assets
Income taxes
receivable
(payable),
current and non-
current
Accounts payable
and accrued
liabilities and non-
current liabilities
Deferred tax
assets and
liabilities
Canadian dollar$47.6 $4.6 $8.0 $(56.1)$12.0 
Mexican peso3.2 14.3 11.4 (54.0)33.9 
Argentine peso0.4 21.5 — (79.0)(12.1)
Bolivian boliviano9.2 8.0 (7.0)(7.6)(3.8)
European euro0.1 — (2.2)(0.1)— 
Peruvian sol6.1 22.0 5.1 (87.2)(68.1)
Guatemala quetzal0.2 0.1 (0.1)(9.6)— 
Chilean peso1.2 7.2 18.5 (75.9)(89.8)
Brazilian real0.4 5.6 (5.4)(39.3)(333.3)
 $68.4 $83.3 $28.3 $(408.8)$(461.2)
At December 31, 2024, the Company had outstanding positions on its foreign currency exposure of Mexican peso ("MXN"), Peruvian sol ("PEN"), Canadian dollar ("CAD"), Chilean peso ("CLP") and Brazilian real ("BRL") purchases. The Company recorded the following derivative losses and gains on currencies for the year ended December 31, 2024 and 2023:
20242023
Mexican peso (losses) gains$(2.7)$2.5 
Peruvian sol gains0.2 2.9 
Canadian dollar (losses) gains(5.5)4.1 
Chilean peso losses(6.4)(3.0)
Brazilian real (losses) gains(11.0)1.2 
$(25.4)$7.7 
Schedule of derivative gains and losses for the year ended December 31, 2024 and 2023