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Income taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Major components of tax expense (income) [abstract]  
Summary of income tax expense
Total income tax expense consists of:
December 31, 2020December 31, 2019
Current tax expense$88,575 $56,350 
Deferred tax recovery(9,441)(16,579)
$79,134 $39,771 
Summary of income tax expense attributable to geographical jurisdiction
Total income tax expense attributable to each geographical jurisdiction for the Company is as follows:
2020 2019 
Turkey$65,815 $57,518 
Canada23,122 (2,727)
Greece(8,763)(14,306)
Romania (6,081)(1,110)
Brazil5,041 249 
Other jurisdictions— 147 
$79,134 $39,771 
Summary of key factors affecting income tax expense
The key factors affecting income tax expense for the years are as follows:
20202019
Earnings from continuing operations before income tax$176,495 $113,456 
Canadian statutory tax rate27%27%
Tax expense on net earnings at Canadian statutory tax rate$47,654 $30,633 
Items that cause an increase (decrease) in income tax expense:
Foreign income subject to different income tax rates than Canada(20,875)(24,608)
Reduction in Greek income tax rate— (7,243)
Turkish investment tax credits(21,669)— 
Québec mineral tax10,712 63 
Non-tax effected operating losses25,598 16,231 
Non-deductible expenses and other items7,400 13,514 
Foreign exchange and other translation adjustments22,798 13,382 
Future and current withholding tax on foreign income dividends8,705 (5,278)
Other(1,189)3,077 
Income tax expense$79,134 $39,771 
Summary of change in net deferred tax position
The change in the Company’s net deferred tax position was as follows:
20202019
Net deferred income tax liability
Balance at January 1,$412,717 $429,929 
Deferred income tax recovery in the statement of operations(9,441)(16,579)
  Deferred tax recovery in the consolidated statement of OCI (563)(633)
Balance at December 31,$402,713 $412,717 
Summary of temporary difference
The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary differenceDeferred tax assetsDeferred tax liabilitiesRecovery
202020192020201920202019
Property, plant and equipment$— $— $458,622 $498,384 $(39,762)$14,823 
Loss carryforwards33,587 42,079 — — 8,492 (4,834)
Liabilities35,794 31,793 7,680 2,545 1,697 (1,927)
Future withholding taxes— — 6,234 — 6,234 (20,000)
Other items15,930 24,346 15,488 10,006 13,898 (4,641)
Balance at December 31,$85,311 $98,218 $488,024 $510,935 $(9,441)$(16,579)
Summary of unrecognized deferred tax assets
Unrecognized deferred tax assets20202019
Tax losses$181,667 $169,498 
Other deductible temporary differences39,394 30,242 
$221,061 $199,740 
Summary of unrecognized tax losses The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
2020Expiry date2019Expiry date
Canadian net operating loss carryforwards$512,102 2025-2040$487,229 2025-2039
Canadian capital losses$65,836 none$63,483 none
Greek net operating loss carryforwards$140,196 2021-2025$98,395 2020-2024
Brazilian net operating loss carryforwards$2,421 none$31,128 none