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COST OF SALES
 12 Months Ended
Dec. 31, 2023
Analysis of income and expense [abstract]  
Cost of Sales Cost of Sales
Years ended December 31,
Notes20232022
Operating costs1
$602.2 $526.6 
Royalties 37(b)44.8 43.8 
Depreciation expense2
216.0 240.5 
$863.0 $810.9 
1.Operating costs include mine production, transport and smelter costs, and site administrative expenses.
2.Depreciation expense excludes depreciation related to corporate office assets, which is included in general and administrative expenses.
For the year ended December 31, 2023, the Company recognized $14.5 million in cost of sales related to operating below normal capacity at Essakane (December 31, 2022 - $nil).