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Mathieu Dupuis

The numbers speak for themselves. Over the course of 2013, Canada's five biggest gold miners wrote off $18.76-billion.

These follow major 2012 writedowns, including Barrick's $4.2-billion impairment charge, and Kinross's $3.2-billion writeoff.

And there's more to come this year. Yamana Gold, which has steered clear of any impairment charges so far, pre-announced that it expects a writeoff worth 6 per cent of its total assets. The miner reports earnings next week.

Here's a rundown of who's wrote off what. All figures are after tax.

Barrick Gold Corp.:

$11.54-billion – stemming from: Pascua-Lama, Porgera, Veladero, the Australia Pacific gold segment, Buzwagi, Jabal Sayid, Kanowna

Goldcorp Inc.:

$2.46-billion – stemming from: Penasquito, Cerro Blanco, Alumbrera

Kinross Gold Corp.:

$3-billion – stemming from: "lower short-term and long-term gold price assumptions," Fruta del Norte, Maricunga

Agnico-Eagle Mines Ltd.

$436-million – stemming from: Meadowbank, Meliadine, Lapa

Iamgold Corp.

$772.8 million - stemming from "lower short-term and long-term gold price assumptions" related to Suriname, Essakane and the Doyon division

Yamana Gold Inc.

$546.1 million - stemming from Jacobina, Ernesto/Pau-a-Pique, Alumbrera, Jeronimo and exploration properties

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 3:57pm EDT.

SymbolName% changeLast
ABX-T
Barrick Gold Corp
+2.46%22.53
AEM-N
Agnico-Eagle Mines Ltd
+3.11%59.65
AEM-T
Agnico Eagle Mines Ltd
+2.9%80.77
BX-N
Blackstone Inc
+0.37%131.37
G-N
Genpact Ltd
+0.58%32.95
G-T
Augusta Gold Corp
+6.93%1.08
IAG-N
Iamgold Corp
+4.39%3.33
IAG-T
IA Financial Corp Inc
-0.58%84.15
IMG-T
Iamgold Corp
+4.39%4.52
K-N
Kellanova
+1.13%57.29
K-T
Kinross Gold Corp
+3.88%8.31
KGC-N
Kinross Gold Corp
+4.25%6.13
M-N
Macy's Inc
+0.71%19.99
X-N
United States Steel Corp
-0.59%40.78

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