STREAM AND ROYALTY INTERESTS, NET |
3. STREAM AND ROYALTY INTERESTS, NET The following tables summarize our stream and royalty interests, net as of September 30, 2022 and December 31, 2021. | | | | | | | | | | As of September 30, 2022 (Amounts in thousands): | | Cost | | Accumulated Depletion | | Net | Production stage stream interests: | | | | | | | | | | Mount Milligan | | $ | 790,635 | | $ | (379,708) | | $ | 410,927 | Pueblo Viejo | | | 610,404 | | | (281,730) | | | 328,674 | Andacollo | | | 388,182 | | | (149,586) | | | 238,596 | Khoemacau | | | 265,911 | | | (11,621) | | | 254,290 | Rainy River | | | 175,727 | | | (58,328) | | | 117,399 | Wassa | | | 146,475 | | | (93,474) | | | 53,001 | Other | | | 69,100 | | | (11,200) | | | 57,900 | Total production stage stream interests | | | 2,446,434 | | | (985,647) | | | 1,460,787 | | | | | | | | | | | Production stage royalty interests: | | | | | | | | | | Cortez | | | 280,219 | | | (28,352) | | | 251,867 | Voisey's Bay | | | 205,724 | | | (117,228) | | | 88,496 | Red Chris | | | 116,187 | | | (1,797) | | | 114,390 | Peñasquito | | | 99,172 | | | (56,529) | | | 42,643 | Other | | | 447,246 | | | (395,641) | | | 51,605 | Total production stage royalty interests | | | 1,148,548 | | | (599,547) | | | 549,001 | Total production stage stream and royalty interests | | | 3,594,982 | | | (1,585,194) | | | 2,009,788 | | | | | | | | | | | Development stage stream interests: | | | | | | | | | | Other | | | 12,038 | | | — | | | 12,038 | Development stage royalty interests: | | | | | | | | | | Côté | | | 45,421 | | | — | | | 45,421 | Other | | | 73,233 | | | | | | 73,233 | Total development stage stream and royalty interests | | | 130,692 | | | — | | | 130,692 | | | | | | | | | | | Exploration stage stream interests: | | | | | | | | | | NX Gold | | | 34,253 | | | — | | | 34,253 | Exploration stage royalty interests: | | | | | | | | | | Cortez | | | 325,654 | | | — | | | 325,654 | Great Bear | | | 206,965 | | | — | | | 206,965 | Pascua-Lama | | | 177,690 | | | — | | | 177,690 | Red Chris | | | 48,895 | | | — | | | 48,895 | Côté | | | 29,610 | | | — | | | 29,610 | Other | | | 120,833 | | | — | | | 120,833 | Total exploration stage stream and royalty interests | | | 943,900 | | | — | | | 943,900 | Total stream and royalty interests, net | | $ | 4,669,574 | | $ | (1,585,194) | | $ | 3,084,380 |
| | | | | | | | | | As of December 31, 2021 (Amounts in thousands): | | Cost | | Accumulated Depletion | | Net | Production stage stream interests: | | | | | | | | | | Mount Milligan | | $ | 790,635 | | $ | (336,921) | | $ | 453,714 | Pueblo Viejo | | | 610,405 | | | (260,321) | | | 350,084 | Andacollo | | | 388,182 | | | (139,035) | | | 249,147 | Khoemacau | | | 239,411 | | | (3,402) | | | 236,009 | Rainy River | | | 175,727 | | | (50,115) | | | 125,612 | Wassa | | | 146,475 | | | (84,915) | | | 61,560 | Other | | | 69,101 | | | (4,193) | | | 64,908 | Total production stage stream interests | | | 2,419,936 | | | (878,902) | | | 1,541,034 | | | | | | | | | | | Production stage royalty interests: | | | | | | | | | | Voisey's Bay | | | 205,724 | | | (113,602) | | | 92,122 | Red Chris | | | 116,187 | | | — | | | 116,187 | Peñasquito | | | 99,172 | | | (53,022) | | | 46,150 | Cortez | | | 80,681 | | | (23,225) | | | 57,456 | Other | | | 447,799 | | | (387,364) | | | 60,435 | Total production stage royalty interests | | | 949,563 | | | (577,213) | | | 372,350 | Total production stage stream and royalty interests | | | 3,369,499 | | | (1,456,115) | | | 1,913,384 | | | | | | | | | | | Development stage stream interests: | | | | | | | | | | Other | | | 12,037 | | | — | | | 12,037 | Development stage royalty interests: | | | | | | | | | | Côté | | | 45,421 | | | — | | | 45,421 | Other | | | 54,755 | | | — | | | 54,755 | Total development stage stream and royalty interests | | | 112,213 | | | — | | | 112,213 | | | | | | | | | | | Exploration stage stream interests: | | | | | | | | | | NX Gold | | | 30,974 | | | — | | | 30,974 | Exploration stage royalty interests: | | | | | | | | | | Pascua-Lama | | | 177,690 | | | — | | | 177,690 | Red Chris | | | 48,895 | | | — | | | 48,895 | Côté | | | 29,610 | | | — | | | 29,610 | Other | | | 130,986 | | | — | | | 130,986 | Total exploration stage royalty interests | | | 418,155 | | | — | | | 418,155 | Total stream and royalty interests, net | | $ | 3,899,867 | | $ | (1,456,115) | | $ | 2,443,752 |
Mount Milligan On October 4, 2022, Centerra Gold, Inc. (“Centerra”) announced the highlights of an updated life of mine plan for Mount Milligan which provided, among other things, a four-year extension of the mine life to 2033 and increases to the proven and probable reserves. As a result of the increase in proven and probable reserves, the gold and copper depletion rates on our Mount Milligan stream decreased to $416 per ounce of gold and $1.06 per pound of copper as of September 30, 2022 from $703 per ounce of gold and $1.53 per pound of copper. Centerra reported that it expects to file a new technical report detailing the life of mine plan within 45 days of October 4, 2022.
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