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ÇÖPLER INCIDENT | 3 Months Ended
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Mar. 31, 2024
Asset Retirement Obligation Disclosure [Abstract] |
ÇÖPLER INCIDENT | ÇÖPLER INCIDENT On February 13, 2024, the Company suspended all operations at Çöpler as a result of the Çöpler Incident. The Company is not, at this time, able to estimate or predict when and under what conditions it will resume operations at Çöpler. During the suspension, Care and maintenance was recorded in the Statements of Operations which represents direct costs of $7.7 million and depreciation of $6.7 million. Financial impacts of the Çöpler Incident Statement of Operations
| Three Months Ended March 31, |  |
| 2024 |  |  |  |
Reclamation and remediation costs |  |  |  |  |  |  |  |
Incurred remediation costs (1) | $ | (22,466) |  |  |  |  |  |  |
Estimated future reclamation and remediation costs |  | (250,437) |  |  |  |  |  |  |
|  | (272,903) |  |  |  |  |  |  |
Impairment charges |  |  |  |  |  |  |  |
Leach pad inventory |  | (76,023) |  |  |  |  |  |  |
Mineral properties, plant and equipment, net |  | (38,207) |  |  |  |  |  |  |
|  | (114,230) |  |  |  |  |  |  |
Contingencies and other legal matters |  | (15,310) |  |  |  |  |  |  |
Total operating loss | $ | (402,443) |  |  |  |  |  |  |
(1)Represents cash outflows included in Reclamation and remediation costs in the Condensed Consolidated Statements of Operations. Balance Sheet
| March 31, 2024
| Current |  | Non-current |  | Total
Liabilities |  |  |  |  |  |  |  |
Reclamation and remediation liabilities | $ | 182,625 |  |  | $ | 67,812 |  |  | $ | 250,437 |
Accrued liabilities and other |  | 15,310 |  |  |  | — |  |  |  | 15,310 |
Total liabilities | $ | 197,935 |  |  | $ | 67,812 |  |  | $ | 265,747 |
Remediation and reclamation liabilities The Company estimated a preliminary cost range of $250.0 to $300.0 million for future reclamation and remediation costs related to the Çöpler Incident. The Company accrued approximately $250.0 million, which represents the low end of the estimated cost range. Reclamation During the three months ended March 31, 2024, the Company recorded an $11.2 million revision to the reclamation liability to reflect changes in the timing and extent of the closure of the heap leach pad as a result of the Çöpler Incident. The revision was recorded in Reclamation and remediation costs in the Condensed Consolidated Statements of Operations. Remediation During the three months ended March 31, 2024, the Company recorded a remediation liability of $261.7 million as a result of the Çöpler Incident. The remediation activities include movement of the debris out of the Sabırlı Valley and Manganese pit, sloping and stabilization of the heap leach pad in preparation for permanent closure, construction of a permanent storage facility for the debris, and management of surface and ground water in the Sabırlı Valley. The Company incurred $22.5 million of remediation costs during the first quarter of 2024 in connection with the Çöpler Incident. The costs incurred and the remediation liability were recorded in Reclamation and remediation costs in the Condensed Consolidated Statements of Operations. As of March 31, 2024, the remediation liability of $239.2 million consists of $178.5 million classified as current and $60.7 million classified as non-current. Impairment charges As a result of the Çöpler Incident, the Company plans to permanently close the heap leach pad; therefore, the Company fully impaired the heap leach pad inventory and related heap leach pad processing facilities. Accordingly, during the three months ended March 31, 2024, the Company recorded non-cash impairment charges of $76.0 million related to Inventories and $38.2 million related to Mineral properties, plant and equipment, net, for a total non-cash impairment charge of $114.2 million. No impairment charges were recognized for the three months ended March 31, 2023. Contingencies and other legal matters The Company may be subject to additional legal costs and expenses due to the Çöpler Incident. As of March 31, 2024, the Company has recorded $15.3 million of contingencies related to the Çöpler Incident in Other operating expenses, net in the Condensed Consolidated Statements of Operations and Accrued liabilities and other in the Condensed Consolidated Balance Sheets. See Note 18 for additional information.

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- Definition The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 410 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//410-20/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 20 -Topic 410 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481850/410-20-50-2 + Details
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