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Mining Properties | 12 Months Ended
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Dec. 31, 2017
Mining Properties [Abstract] |
MINING PROPERTIES | MINING PROPERTIES Mining properties consist of the following (in thousands):
December 31, 2017 | Palmarejo |  | Rochester |  | Silvertip |  | Kensington |  | Wharf |  | La Preciosa |  | Total
Mine development | $ | 214,383 |  |  | $ | 193,881 |  |  | $ | 57,214 |  |  | $ | 298,749 |  |  | $ | 40,618 |  |  | $ | — |  |  | $ | 804,845 |
Accumulated amortization | (146,598 | ) |  | (144,390 | ) |  | — |  |  | (178,632 | ) |  | (15,748 | ) |  | — |  |  | (485,368 | )
| 67,785 |  |  | 49,491 |  |  | 57,214 |  |  | 120,117 |  |  | 24,870 |  |  | — |  |  | 319,477 |
Mineral interests | 629,303 |  |  | — |  |  | 245,116 |  |  | — |  |  | 45,837 |  |  | 49,085 |  |  | 969,341 |
Accumulated amortization | (435,215 | ) |  | — |  |  | — |  |  | — |  |  | (24,034 | ) | — |  | — |  |  | (459,249 | )
| 194,088 |  |  | — |  |  | 245,116 |  |  | — |  |  | 21,803 |  |  | 49,085 |  |  | 510,092 |
Mining properties, net | $ | 261,873 |  |  | $ | 49,491 |  |  | $ | 302,330 |  |  | $ | 120,117 |  |  | $ | 46,673 |  |  | $ | 49,085 |  |  | $ | 829,569 |
December 31, 2016 | Palmarejo |  | Rochester |  | Kensington |  | Wharf |  | La Preciosa |  | Joaquin |  | Other |  | Total
Mine development | $ | 174,890 |  |  | $ | 165,230 |  |  | $ | 271,175 |  |  | $ | 37,485 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 648,780 |
Accumulated amortization | (134,995 | ) |  | (138,244 | ) |  | (154,744 | ) |  | (11,699 | ) |  | — |  |  |  |  |  | — |  |  | (439,682 | )
| 39,895 |  |  | 26,986 |  |  | 116,431 |  |  | 25,786 |  |  | — |  |  | — |  |  | — |  |  | 209,098 |
Mineral interests | 629,303 |  |  | — |  |  | — |  |  | 45,837 |  |  | 49,085 |  |  | 10,000 |  |  | 37,272 |  |  | 771,497 |
Accumulated amortization | (381,686 | ) |  | — |  |  | — |  |  | (19,249 | ) |  | — |  |  | — |  |  | (29,370 | ) |  | (430,305 | )
| 247,617 |  |  | — |  |  | — |  |  | 26,588 |  |  | 49,085 |  |  | 10,000 |  |  | 7,902 |  |  | 341,192 |
Mining properties, net | $ | 287,512 |  |  | $ | 26,986 |  |  | $ | 116,431 |  |  | $ | 52,374 |  |  | $ | 49,085 |  |  | $ | 10,000 |  |  | $ | 7,902 |  |  | $ | 550,290 |
Palmarejo is located in the State of Chihuahua in northern Mexico and consists of the Palmarejo mine and mill, the Guadalupe underground mine, the Independencia underground mine, and other deposits and exploration targets. Palmarejo commenced production in April 2009. The Rochester silver and gold mine, located in northwestern Nevada has been operated by the Company since September 1986. The mine utilizes heap-leaching to extract both silver and gold from ore mined using open pit methods. The Silvertip is a silver-zinc-lead mine located in northern British Columbia, Canada. Silvertip is expected to commence production in the first quarter of 2018. The Kensington mine is an underground gold mine and consists of the Kensington and adjacent Jualin properties located north-northwest of Juneau, Alaska. The Company commenced commercial production in July 2010. The Wharf gold mine is an open pit gold mine located near the city of Lead, South Dakota. The Company acquired Wharf in February 2015. The La Preciosa silver-gold project is located in the State of Durango in northern Mexico. The Company completed a feasibility study in 2014 and has deferred construction activities until expected returns improve. Asset Sales In February 2017, the Company sold the Joaquin silver-gold exploration project for consideration of $27.4 million and a 2.0% NSR royalty on the Joaquin project, the Company recognized a $21.1 million pre-tax gain on this sale, included in Other, net on the Consolidated Statements of Comprehensive Income. In July 2017, the Company sold the Endeavor Silver Stream and our remaining portfolio of royalties to Metalla for total consideration of $13.0 million comprised of $6.3 million of Metalla shares and a $6.7 million convertible debenture. The Company recognized a $1.2 million pre-tax gain, included in Other, net on the Consolidated Statements of Comprehensive Income. In December 2017, the Company entered into an agreement to sell Manquiri, which operates the San Bartolomé mine. See Note 22 -- Held for Sale for additional detail.

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