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
$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
$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