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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 | 17. Property, Plant and Equipment
(CAD$ in millions) |  | Exploration and Evaluation |  | Mineral Properties |  | Land, Buildings, Plant and Equipment |  | Capitalized Production Stripping Costs |  | Construction In Progress |  | Total
At January 1, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 991 |  |  | $ | 20,364 |  |  | $ | 18,514 |  |  | $ | 8,596 |  |  | $ | 14,270 |  |  | $ | 62,735 |
Accumulated depreciation |  | — |  |  | (7,074) |  |  | (10,218) |  |  | (5,348) |  |  | — |  |  | (22,640) |
Net book value |  | $ | 991 |  |  | $ | 13,290 |  |  | $ | 8,296 |  |  | $ | 3,248 |  |  | $ | 14,270 |  |  | $ | 40,095 |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Opening net book value |  | $ | 991 |  |  | $ | 13,290 |  |  | $ | 8,296 |  |  | $ | 3,248 |  |  | $ | 14,270 |  |  | $ | 40,095 |
Additions |  | 619 |  |  | 198 |  |  | 864 |  |  | 1,198 |  |  | 3,631 |  |  | 6,510 |
Disposals |  | (12) |  |  | (2) |  |  | (34) |  |  | — |  |  | (7) |  |  | (55) |
Depreciation and amortization |  | — |  |  | (377) |  |  | (964) |  |  | (739) |  |  | — |  |  | (2,080) |
Transfers between classifications (c) |  | — |  |  | 324 |  |  | 13,787 |  |  | — |  |  | (14,111) |  |  | — |
Changes in decommissioning, restoration and other provisions |  | (7) |  |  | 926 |  |  | 18 |  |  | — |  |  | (6) |  |  | 931 |
Capitalized borrowing costs (Note 11) |  | — |  |  | — |  |  | — |  |  | — |  |  | 780 |  |  | 780 |
Changes in foreign exchange rates |  | (26) |  |  | (89) |  |  | (280) |  |  | (25) |  |  | (196) |  |  | (616) |
Closing net book value |  | $ | 1,565 |  |  | $ | 14,270 |  |  | $ | 21,687 |  |  | $ | 3,682 |  |  | $ | 4,361 |  |  | $ | 45,565 |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 1,565 |  |  | $ | 20,693 |  |  | $ | 32,532 |  |  | $ | 9,738 |  |  | $ | 4,361 |  |  | $ | 68,889 |
Accumulated depreciation |  | — |  |  | (6,423) |  |  | (10,845) |  |  | (6,056) |  |  | — |  |  | (23,324) |
Net book value |  | $ | 1,565 |  |  | $ | 14,270 |  |  | $ | 21,687 |  |  | $ | 3,682 |  |  | $ | 4,361 |  |  | $ | 45,565 |
Year ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Opening net book value |  | $ | 1,565 |  |  | $ | 14,270 |  |  | $ | 21,687 |  |  | $ | 3,682 |  |  | $ | 4,361 |  |  | $ | 45,565 |
Additions |  | 315 |  |  | 1 |  |  | 533 |  |  | 846 |  |  | 1,447 |  |  | 3,142 |
Disposals |  | (7) |  |  | (4) |  |  | (50) |  |  | — |  |  | (2) |  |  | (63) |
Change from the NSC/POSCO transaction (Note 5) |  | — |  |  | 115 |  |  | 105 |  |  | 83 |  |  | 39 |  |  | 342 |
Sale of steelmaking coal business (Note 5) |  | — |  |  | (9,609) |  |  | (4,214) |  |  | (2,090) |  |  | (1,360) |  |  | (17,273) |
Asset impairment |  | — |  |  | — |  |  | (961) |  |  | — |  |  | (54) |  |  | (1,015) |
Depreciation and amortization |  | — |  |  | (396) |  |  | (1,459) |  |  | (586) |  |  | — |  |  | (2,441) |
Transfers between classifications (c) |  | — |  |  | 106 |  |  | 3,217 |  |  | — |  |  | (3,323) |  |  | — |
Changes in decommissioning, restoration and other provisions |  | — |  |  | 39 |  |  | (9) |  |  | — |  |  | — |  |  | 30 |
Capitalized borrowing costs (Note 11) |  | — |  |  | — |  |  | — |  |  | — |  |  | 66 |  |  | 66 |
Changes in foreign exchange rates |  | 82 |  |  | 357 |  |  | 1,500 |  |  | 95 |  |  | 181 |  |  | 2,215 |
Closing net book value |  | $ | 1,955 |  |  | $ | 4,879 |  |  | $ | 20,349 |  |  | $ | 2,030 |  |  | $ | 1,355 |  |  | $ | 30,568 |
At December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Cost |  | $ | 1,955 |  |  | $ | 6,988 |  |  | $ | 29,313 |  |  | $ | 4,417 |  |  | $ | 1,355 |  |  | $ | 44,028 |
Accumulated depreciation |  | — |  |  | (2,109) |  |  | (8,964) |  |  | (2,387) |  |  | — |  |  | (13,460) |
Net book value |  | $ | 1,955 |  |  | $ | 4,879 |  |  | $ | 20,349 |  |  | $ | 2,030 |  |  | $ | 1,355 |  |  | $ | 30,568 |
17. Property, Plant and Equipment (continued) a) Exploration and Evaluation Significant exploration and evaluation projects in property, plant and equipment include the Highland Valley Copper Mine Life Extension, Aktigiruq-Anarraaq extension at Red Dog, Galore Creek, Zafranal, San Nicolás and NewRange. b) Borrowing Costs Borrowing costs are capitalized at a rate based on our weighted average cost of borrowing or at the rate of the project-specific debt, as applicable. Capitalized borrowing costs are classified with the asset they relate to within mineral properties, land, buildings, plant and equipment, or construction in progress. Our weighted average borrowing rate used for capitalization of borrowing costs in 2024 was 7.4% (2023 – 5.8%). c) Transfers Between Classifications Of the $14.1 billion in transfers in 2023, the largest component related to QB assets which became available for use in December of 2023. Of the $3.3 billion in transfers in 2024, the largest component related to QB assets which became available for use in May of 2024.

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- References No definition available. + Details
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