Mineral Properties, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, plant and equipment [abstract]

11. 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, 2021
Net of accumulated depreciation	$	996,745	$	307,080	$	431,650	$	679,531	$	2,415,006
Additions	210,484		31,971		7,253		16,766		266,474
Disposals	(2,770)		—		(12,315)		(4,542)		(19,627)
Depreciation and amortization (1)	(166,116)		(770)		—		(136,072)		(302,958)
Depreciation charge captured in inventory	(21,249)		—		—		—		(21,249)

Transfers	90,571		(9,522)		(93)		(80,956)		—
Closure and decommissioning – changes in estimate (Note 15)	6,905								6,905
As at December 31, 2021	$	1,114,570	$	328,759	$	426,495	$	474,727	$	2,344,551
Cost as at December 31, 2021	$	3,140,594	$	343,705	$	839,427	$	1,288,392	$	5,612,118
Accumulated depreciation and impairments	(2,026,024)		(14,946)		(412,932)		(813,665)		(3,267,567)
Carrying value – December 31, 2021	$	1,114,570	$	328,759	$	426,495	$	474,727	$	2,344,551

(1)Includes $nil of depreciation and amortization included in mine care and maintenance for the year ended December 31, 2021.


	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 15)	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	$	2,753,136	$	321,639	$	844,487	$	1,461,678	$	5,380,940
Accumulated depreciation and impairments	(1,756,391)		(14,559)		(412,837)		(782,147)		(2,965,934)
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.


	December 31, 2021						December 31, 2020
	Cost		Accumulated Depreciation and Impairment		Carrying Value		Cost		Accumulated Depreciation and Impairment		Carrying Value
Producing properties:
Huaron, Peru	$	224,700	$	(141,902)	$	82,798	$	218,270	$	(135,932)	$	82,338
Morococha, Peru	277,105		(188,821)		88,284		267,705		(175,844)		91,861
Shahuindo, Peru	590,096		(132,727)		457,369		546,643		(86,855)		459,788
La Arena, Peru	208,306		(105,006)		103,300		170,401		(66,313)		104,088
La Colorada, Mexico	355,471		(185,684)		169,787		308,378		(164,443)		143,935
Dolores, Mexico (1)	1,738,040		(1,350,908)		387,132		1,709,105		(1,228,492)		480,613
Manantial Espejo, Argentina (2)	518,931		(500,244)		18,687		513,626		(485,036)		28,590
San Vicente, Bolivia	151,045		(110,829)		40,216		144,790		(101,408)		43,382
Timmins, Canada	335,488		(103,903)		231,585		307,243		(75,902)		231,341
Other	29,804		(19,664)		10,140		28,653		(18,313)		10,340
	$	4,428,986	$	(2,839,688)	$	1,589,298	$	4,214,814	$	(2,538,538)	$	1,676,276
Non-Producing Properties:
Land	$	6,373	$	(871)	$	5,502	$	6,758	$	(1,254)	$	5,504
Navidad, Argentina (3)	566,577		(376,101)		190,476		566,577		(376,101)		190,476
Escobal, Guatemala	257,390		(1,842)		255,548		259,198		(1,072)		258,126
Timmins, Canada	63,018		—		63,018		71,099		—		71,099
Shahuindo, Peru	3,549		—		3,549		6,079		—		6,079
La Arena, Peru	117,005		—		117,005		117,000		—		117,000
Minefinders, Mexico	78,443		(36,975)		41,468		80,239		(36,975)		43,264
La Colorada, Mexico	55,370		—		55,370		21,589		—		21,589
Morococha, Peru	2,981		—		2,981		5,054		—		5,054
Other	32,426		(12,090)		20,336		32,533		(11,994)		20,539
	$	1,183,132	$	(427,879)	$	755,253	$	1,166,126	$	(427,396)	$	738,730
Total	$	5,612,118	$	(3,267,567)	$	2,344,551	$	5,380,940	$	(2,965,934)	$	2,415,006

(1)Includes previously recorded impairment charges of $748.9 million at December 31, 2021 (2020 - $748.9 million).

(2)Includes previously recorded impairment charges of $173.3 million at December 31, 2021 (2020 - $173.3 million).

(3)Includes previously recorded impairment charges of $376.1 million at December 31, 2021 (2020 - $376.1 million).