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Income taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Major components of tax expense (income) [abstract]  
Summary of income tax expense
Total income tax expense consists of:
2024 2023 
Current tax expense$114,087 $85,804 
Deferred tax expense (recovery)
20,671 (28,229)
$134,758 $57,575 
Summary of income tax expense (recovery) attributable to geographical jurisdiction
Income tax expense (recovery) attributable to each geographical jurisdiction for the Company is as follows:
2024 2023 
Turkiye$44,224 $42,471 
Canada67,099 30,491 
Greece7,626 (15,387)
Other Jurisdictions15,809 — 
$134,758 $57,575 
Summary of key factors affecting income tax expense
The key factors affecting income tax expense for the years are as follows:
20242023
Earnings from continuing operations before income tax$435,394 $163,365 
Canadian statutory tax rate27%27%
Tax expense on net earnings at Canadian statutory tax rate$117,556 $44,109 
Items that cause an increase (decrease) in income tax expense:
Foreign income subject to different income tax rates than Canada(4,627)1,143 
Increase in Turkish income tax rate— 22,589 
Turkish investment tax credits and other benefits(28,496)(22,001)
Québec mineral tax42,701 22,518 
Non-tax effected temporary differences and operating losses(19,118)(4,383)
Non-deductible expenses and non-taxable income(10,107)(96)
Flow-through share renouncement3,539 3,500 
Turkish earthquake relief tax— 4,348 
Turkish inflation benefit(40,492)(59,361)
Foreign exchange related to the weakening of the Turkish lira33,004 51,205 
Foreign exchange and other translation adjustments18,819 (9,608)
Future and current withholding tax on foreign income dividends20,329 6,723 
Other1,650 (3,111)
Income tax expense$134,758 $57,575 
Summary of change in net deferred tax position
The change in the Company’s net deferred tax position was as follows:
20242023
Net deferred income tax liability
Balance at January 1,$384,361 $410,219 
Deferred income tax expense (recovery) in the statements of operations20,672 (28,229)
Deferred tax expense in the consolidated statements of other comprehensive income10,419 2,371 
Balance at December 31,$415,452 $384,361 
Summary of temporary difference
The composition of the Company’s net deferred income tax assets and liabilities and deferred tax expense (recovery) is as follows:
Type of temporary differenceDeferred tax assetsDeferred tax liabilitiesExpense (Recovery)
202420232024202320242023
Property, plant and equipment$— $— $452,950 $419,824 $33,126 $(26,871)
Loss carryforwards19,487 14,748 — — (4,738)2,784 
Liabilities61,632 45,618 — — (16,013)(17,658)
Future withholding taxes— — 9,650 5,355 4,295 (200)
Other items— — 33,971 19,548 4,002 13,716 
Balance at December 31,$81,119 $60,366 $496,571 $444,727 $20,672 $(28,229)
Summary of unrecognized deferred tax assets
Unrecognized deferred tax assets20242023
Tax losses$197,138 $218,615 
Other deductible temporary differences88,388 86,864 
$285,526 $305,479 
Summary of unrecognized tax losses The gross amount of tax losses for which no deferred tax asset was recognized expire as follows:
20. Income taxes (continued)
2024Expiry date2023Expiry date
Canadian net operating loss carryforwards$432,863 2031-2043$464,761 2030-2043
Canadian capital losses386,707 none258,795 none
Greek net operating loss carryforwards127,541 2025-2029182,444 2024-2028
Romanian net operating loss carryforwards6,952 2025-20316,811 2024-2030