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INCOME AND MINING TAXES
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The Company’s consolidated effective income tax rate was 2.3% for the first six months of 2024 compared to (113.6)% for the first six months of 2023. The primary drivers of the change in the effective rate were due to foreign currency fluctuations and changes in the valuation allowance. The Company’s statutory tax rate for the period is 27.0%. The effective rate differs from the statutory rate primarily due to foreign currency fluctuations and changes in the valuation allowance.
On June 19, 2024, Canada’s Bill C-69, Budget Implementation Act, 2024, No. 1, received third reading in the Canadian House of Commons and Pillar Two became substantively enacted for Canadian financial reporting purposes. The legislation is effective for the Company’s financial year beginning January 1, 2024. The Company has limited exposure to additional taxes under Pillar Two as most of its jurisdictions have an effective tax rate greater than the 15%. However, exposure does exist in Argentina where the Company anticipates additional taxes to be assessed in the range of $2.0 million to $10.0 million.