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Income taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Major components of tax expense (income) [abstract]  
Summary of income tax expense
Total income tax expense consists of:
2023 2022 
Current tax expense$85,804 $69,701 
Deferred tax recovery(28,229)(8,477)
$57,575 $61,224 
Summary of income tax expense attributable to geographical jurisdiction
Income tax expense attributable to each geographical jurisdiction for the Company is as follows:
2023 2022 
Turkiye$42,471 $30,366 
Canada30,491 16,934 
Greece(15,387)13,924 
$57,575 $61,224 
Summary of key factors affecting income tax expense
The key factors affecting income tax expense for the years are as follows:
20232022
Earnings from continuing operations before income tax$163,365 $11,856 
Canadian statutory tax rate27%27%
Tax expense on net earnings at Canadian statutory tax rate$44,109 $3,201 
Items that cause an increase (decrease) in income tax expense:
Foreign income subject to different income tax rates than Canada1,143 1,032 
Turkish fixed asset revaluation(4,528)— 
Increase (decrease) in Turkish income tax rate22,589 (4,755)
Turkish investment tax credits(17,473)(9,958)
Québec mineral tax22,518 12,539 
Non-tax effected temporary differences and operating losses(4,383)1,910 
Non-deductible expenses and non-taxable income(96)9,194 
Flow-through share renouncement3,500 4,388 
Turkish earthquake relief tax4,348 — 
Turkish inflation benefit(59,361)(18,048)
Foreign exchange related to the weakening of the Turkish Lira51,205 26,619 
Foreign exchange and other translation adjustments(9,608)14,079 
Future and current withholding tax on foreign income dividends6,723 19,993 
Other(3,111)1,030 
Income tax expense$57,575 $61,224 
Summary of change in net deferred tax position
The change in the Company’s net deferred tax position was as follows:
20232022
Net deferred income tax liability
Balance at January 1,$410,219 $439,195 
Deferred income tax recovery in the statements of operations(28,229)(8,477)
Deferred tax recovery related to discontinued operations— (20,039)
Deferred tax expense (recovery) in the consolidated statements of other comprehensive income2,371 (460)
Balance at December 31,$384,361 $410,219 
Summary of temporary difference
The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary differenceDeferred tax assetsDeferred tax liabilitiesExpense (Recovery)
202320222023202220232022
Property, plant and equipment$— $— $419,824 $446,695 $(26,871)$(44,173)
Loss carryforwards14,748 17,532 — — 2,784 1,634 
Liabilities45,618 27,960 — — (17,658)6,052 
Future withholding taxes— — 5,355 5,555 (200)5,555 
Other items— — 19,548 3,461 13,716 2,416 
$60,366 $45,492 $444,727 $455,711 $(28,229)$(28,516)
Less: discontinued operations— — — — — 20,039 
Balance at December 31,$60,366 $45,492 $444,727 $455,711 $(28,229)$(8,477)
Summary of unrecognized deferred tax assets
Unrecognized deferred tax assets20232022
Tax losses$218,615 $191,448 
Other deductible temporary differences86,864 99,835 
$305,479 $291,283 
Summary of unrecognized tax losses The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
2023Expiry date2022Expiry date
Canadian net operating loss carryforwards$464,761 2030-2043$448,935 2029-2042
Canadian capital losses258,795 none229,146 none
Greek net operating loss carryforwards182,444 2024-2028177,188 2023-2027
Romanian net operating loss carryforwards6,811 2024-20301,837 2023-2029