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(Mathieu Dupuis/)

Update: Canada’s biggest gold miners wrote off $18.76-billion in 2013

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.