Mineral Properties, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, plant and equipment [abstract]

12. MINERAL PROPERTIES, PLANT AND EQUIPMENT

Acquisition costs of investment and non-producing properties together with costs directly related to mine development expenditures are capitalized. Exploration expenditures on investment and non-producing properties are charged to expense in the period they are incurred.

Capitalization of evaluation expenditures commences when there is a high degree of confidence in the project’s viability and hence it is probable that future economic benefits will flow to the Company. Evaluation expenditures, other than that acquired from the purchase of another mining company, are carried forward as an asset provided that such costs are expected to be recovered in full through successful development and exploration of the area of interest, or alternatively by its sale. Evaluation expenditures include delineation drilling, metallurgical evaluations, and geotechnical evaluations amongst others.

Mineral properties, plant and equipment consist of:


	Mining Properties
	Depletable		Non-depletable
	Reserves and Resources		Reserves and Resources		Exploration and Evaluation		Plant and Equipment		Total
Carrying value
As at January 1, 2020
Net of accumulated depreciation	$	950,752	$	331,549	$	450,926	$	771,674	$	2,504,901
Additions	142,463		17,159		631		30,971		191,224
Disposals	(235)		(38)		(14,315)		(382)		(14,970)
Depreciation and amortization (1)	(125,277)		(1,059)		—		(146,108)		(272,444)
Depreciation charge captured in inventory	(29,618)		—		—		—		(29,618)

Transfers	22,747		(40,531)		(5,592)		23,376		—
Closure and decommissioning – changes in estimate (Note 17)	35,913								35,913
As at December 31, 2020	$	996,745	$	307,080	$	431,650	$	679,531	$	2,415,006
Cost as at December 31, 2020	$	2,824,861	$	321,639	$	844,487	$	1,461,678	$	5,452,665
Accumulated depreciation and impairments	(1,828,116)		(14,559)		(412,837)		(782,147)		(3,037,659)
Carrying value – December 31, 2020	$	996,745	$	307,080	$	431,650	$	679,531	$	2,415,006

(1)Includes $18.0 million of depreciation and amortization included in mine care and maintenance for the year ended December 31, 2020.


	Mining Properties
	Depletable		Non-depletable
	Reserves and Resources		Reserves and Resources		Exploration and Evaluation		Plant and Equipment		Total
Carrying value
As at January 1, 2019
Net of accumulated depreciation	$	678,489	$	73,375	$	249,231	$	299,907	$	1,301,002
Additions	152,033		42,487		549		68,664		263,733
Tahoe acquisition (Note 8)	314,604		274,817		194,900		455,080		1,239,401
Disposals	(2,461)		(13)		—		(2,010)		(4,484)
Depreciation and amortization	(113,067)		—		—		(140,386)		(253,453)
Depreciation charge captured in inventory	(33,810)		—		—		—		(33,810)
Impairment charge	—		(33,245)		(6,805)		—		(40,050)
Transfers	(77,598)		(25,872)		13,051		90,419		—
Closure and decommissioning – changes in estimate (Note 17)	32,562		—		—		—		32,562
As at December 31, 2019	$	950,752	$	331,549	$	450,926	$	771,674	$	2,504,901
Cost as at December 31, 2019	$	2,429,815	$	398,485	$	876,859	$	1,476,170	$	5,181,329
Accumulated depreciation and impairments	(1,479,063)		(66,936)		(425,933)		(704,496)		(2,676,428)
Carrying value – December 31, 2019	$	950,752	$	331,549	$	450,926	$	771,674	$	2,504,901


	December 31, 2020						December 31, 2019
	Cost		Accumulated Depreciation and Impairment		Carrying Value		Cost		Accumulated Depreciation and Impairment		Carrying Value
Huaron, Peru	$	218,270	$	(135,932)	$	82,338	$	215,109	$	(126,301)	$	88,808
Morococha, Peru	267,705		(175,844)		91,861		258,862		(164,501)		94,361
Shahuindo, Peru	546,643		(86,855)		459,788		498,960		(39,668)		459,292
La Arena, Peru	170,401		(66,313)		104,088		112,014		(22,853)		89,161
Alamo Dorado, Mexico	71,725		(71,725)		—		71,724		(71,724)		—
La Colorada, Mexico	308,378		(164,443)		143,935		305,357		(143,232)		162,125
Dolores, Mexico (1)	1,709,105		(1,228,492)		480,613		1,608,334		(1,091,862)		516,472
Manantial Espejo, Argentina (2)(4)	513,626		(485,036)		28,590		371,677		(367,901)		3,776
San Vicente, Bolivia	144,790		(101,408)		43,382		143,251		(95,360)		47,891
Timmins, Canada	307,243		(75,902)		231,341		292,986		(42,672)		250,314
Other	28,653		(18,313)		10,340		27,711		(17,485)		10,226
Total	$	4,286,539	$	(2,610,263)	$	1,676,276	$	3,905,985	$	(2,183,559)	$	1,722,426

Land and Non-Producing Properties:
Land	$	6,758	$	(1,254)	$	5,504	$	5,528	$	(1,267)	$	4,261
Navidad, Argentina (3)	566,577		(376,101)		190,476		566,577		(376,101)		190,476
Escobal, Guatemala	259,198		(1,072)		258,126		249,353		—		249,353
Timmins, Canada	71,099		—		71,099		87,747		—		87,747
Shahuindo, Peru	6,079		—		6,079		15,586		—		15,586
La Arena, Peru	117,000		—		117,000		117,000		—		117,000
Minefinders, Mexico	80,239		(36,975)		43,264		83,079		(36,975)		46,104
La Colorada, Mexico	21,589		—		21,589		15,544		—		15,544
Morococha, Peru	5,054		—		5,054		7,213		—		7,213
Projects, Argentina (4)	—		—		—		95,851		(66,859)		28,992
Other	32,533		(11,994)		20,539		31,866		(11,667)		20,199
Total non-producing properties	$	1,166,126	$	(427,396)	$	738,730	$	1,275,344	$	(492,869)	$	782,475
Total mineral properties, plant and equipment	$	5,452,665	$	(3,037,659)	$	2,415,006	$	5,181,329	$	(2,676,428)	$	2,504,901

(1)Includes previously recorded impairment charges of $748.9 million at December 31, 2020 (2019 - $748.9 million).

(2)Includes previously recorded impairment charges of $173.3 million at December 31, 2020 (2019 - $173.3 million).

(3)Includes previously recorded impairment charges of $376.1 million at December 31, 2020 (2019 - $376.1 million).

(4)Comprised of the Joaquin and COSE projects which entered commercial production and were transferred to Manantial Espejo during the year ended December 31, 2020.