Property, plant and equipment

12 Months Ended

Dec. 31, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

12. Property, plant and equipment


	Land and buildings		Plant and equipment		Capital works in progress		Mineral properties		Pre-development properties		Total
Cost
Balance at January 1, 2023	$	243,332	$	2,623,733	$	123,605	$	3,751,842	$	242,701	$	6,985,213
Additions/transfers	2,034		43,352		158,430		225,664		25		429,505




Write-down of assets	—		—		—		(3,183)		—		(3,183)
Other movements/transfers	12,311		100,710		(168,761)		51,269		—		(4,471)
Assets reclassified as held for sale	—		—		—		—		217		217
Disposals	(197)		(3,382)		(731)		(126)		(118)		(4,554)
Capitalized interest	—		—		—		17,087		—		17,087
Balance at December 31, 2023	$	257,480	$	2,764,413	$	112,543	$	4,042,553	$	242,825	$	7,419,814

Balance at January 1, 2024	$	257,480	$	2,764,413	$	112,543	$	4,042,553	$	242,825	$	7,419,814
Additions/transfers	4,903		40,339		109,435		468,395		(952)		622,120

(Write-down) reversal of assets	(1,403)		523		(1,946)		(682)		—		(3,508)
Other movements/transfers	21,446		70,740		(100,867)		(2,782)		(12)		(11,475)

Assets reclassified as held for sale	—		—		—		—		1,217		1,217
Disposals	—		(2,389)		—		(87)		(296)		(2,772)
Capitalized interest	—		—		—		33,839		—		33,839
Balance at December 31, 2024	$	282,426	$	2,873,626	$	119,165	$	4,541,236	$	242,782	$	8,059,235

Accumulated depreciation
Balance at January 1, 2023	$	(89,635)	$	(1,396,127)	$	—	$	(1,899,466)	$	(3,723)	$	(3,388,951)
Depreciation for the year	(21,540)		(143,008)		—		(109,740)		—		(274,288)


Other movements	(106)		(2,387)		—		(676)		(27)		(3,196)
Assets reclassified as held for sale	—		—		—		—		(39)		(39)
Disposals	144		2,035		—		1		39		2,219
Balance at December 31, 2023	$	(111,137)	$	(1,539,487)	$	—	$	(2,009,881)	$	(3,750)	$	(3,664,255)

Balance at January 1, 2024	$	(111,137)	$	(1,539,487)	$	—	$	(2,009,881)	$	(3,750)	$	(3,664,255)
Depreciation for the year	(17,968)		(160,641)		—		(98,247)		—		(276,856)

Write-down of assets	—		(654)		—		—		—		(654)

Other movements/transfers	(35)		(3,165)		—		3,310		(17)		93
Assets reclassified as held for sale	—		—		—		—		(7)		(7)
Disposals	—		1,145		—		—		81		1,226
Balance at December 31, 2024	$	(129,140)	$	(1,702,802)	$	—	$	(2,104,818)	$	(3,693)	$	(3,940,453)

Carrying amounts
At January 1, 2023	$	153,697	$	1,227,606	$	123,605	$	1,852,376	$	238,978	$	3,596,262
At December 31, 2023	$	146,343	$	1,224,926	$	112,543	$	2,032,672	$	239,075	$	3,755,559
Balance at December 31, 2024	$	153,286	$	1,170,824	$	119,165	$	2,436,418	$	239,089	$	4,118,782

In accordance with the Company’s accounting policies each CGU is assessed for indicators of impairment and impairment reversal, from both external and internal sources, at the end of each reporting period. The recoverable amounts of the Company’s CGUs are based primarily on the net present value of future cash flows expected to be derived from the CGUs. The recoverable amount used by the Company represents each CGU’s FVLCD, a Level 3 fair value measurement, as it was determined to be higher than value in use.

Olympias

At December 31, 2024, the Company identified an indicator of impairment reversal for the Olympias mine ("Olympias") due to continuing higher gold prices and mine production efficiencies and performed an impairment test of the Olympias CGU.

See Note 4 for discussion of judgement used in assumptions and estimates. The significant assumptions used for determining the recoverable amount of the Olympias CGU at December 31, 2024 are reflected in the table below.


			2024 Assumptions
Gold price ($/oz)			$2,600 - $2,100
Silver price ($/oz)			$32 - $27
Lead price ($/t)			$2,072 - $2,116
Zinc price ($/t)			$2,646 - $2,778
Real discount rate			6.75% - 7.75%
VBPP value/oz			$40 - $60/oz

The assessment as at December 31, 2024 indicated that no impairment reversal is required to be recorded. Changes in any of the assumptions or estimates used in determining the fair values could impact the impairment test. In isolation, a $50/oz increase or decrease in the long-term gold price would approximately result in a $28 million increase or decrease in the recoverable amount, respectively. A 25 basis point increase or decrease in the discount rate would approximately result in a $19 million decrease or increase in the recoverable amount.