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Income and Mining Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of Income (loss) before income taxes are below:
| Year Ended December 31,
In thousands | 2024 |  | 2023 |  | 2022
United States | $ | 50,194 |  |  | $ | (107,021) |  |  | $ | (107,477) |
Foreign | 76,156 |  |  | 38,565 |  |  | 44,028 |
Total | $ | 126,350 |  |  | $ | (68,456) |  |  | $ | (63,449) |
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
| Year Ended December 31,
In thousands | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
United States | $ | (145) |  |  | $ | 981 |  |  | $ | (21) |
United States — State mining taxes | (11,256) |  |  | (7,047) |  |  | (2,936) |
United States — Foreign withholding tax | (33) |  |  | (119) |  |  | (300) |
Canada | (1,147) |  |  | (848) |  |  | (305) |
Mexico | (63,604) |  |  | (30,222) |  |  | (29,546) |
Other | — |  |  | — |  |  | — |
Deferred: |  |  |  |  |
United States | 149 |  |  | 305 |  |  | 215 |
United States — State mining taxes | (1,778) |  |  | (1,076) |  |  | 5,558 |
Canada | (376) |  |  | — |  |  | 254 |
Mexico | 10,740 |  |  | 2,870 |  |  | 12,423 |
Other | — |  |  | — |  |  | — |
Income tax (expense) benefit | $ | (67,450) |  |  | $ | (35,156) |  |  | $ | (14,658) |
Schedule of Effective Income Tax Rate Reconciliation | The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
| Year Ended December 31,
In thousands | 2024 |  | 2023 |  | 2022
Income and mining tax (expense) benefit at statutory rate | $ | (28,465) |  |  | $ | 14,376 |  |  | $ | 13,249 |
State tax provision from continuing operations | (149) |  |  | 4,859 |  |  | 2,871 |
Change in valuation allowance | 727 |  |  | (36,778) |  |  | (36,670) |
Percentage depletion | 6,974 |  |  | 5,649 |  |  | 3,538 |
Uncertain tax positions | 2 |  |  | 6 |  |  | 655 |
U.S. and foreign permanent differences | (7,765) |  |  | (3,056) |  |  | 365 |
Foreign exchange rates | 2,405 |  |  | 1,179 |  |  | (145) |
Foreign inflation and indexing | 2,322 |  |  | 3,077 |  |  | 2,897 |
Foreign tax rate differences | (8,923) |  |  | (3,911) |  |  | (4,994) |
Foreign withholding and other taxes | (8,307) |  |  | (1,381) |  |  | 169 |
Mining taxes | (26,901) |  |  | (16,884) |  |  | (11,239) |
Sale of non-core assets | — |  |  | (1,322) |  |  | 15,447 |
Enactment of 1% increase in Mexico special mining duty tax | (1,696) |  |  | — |  |  | — |
Other, net | 2,326 |  |  | (970) |  |  | (801) |
Income and mining tax (expense) benefit | $ | (67,450) |  |  | $ | (35,156) |  |  | $ | (14,658) |
Schedule of Deferred Tax Assets and Liabilities | At December 31, 2024 and 2023, the significant components of the Company’s deferred tax assets and liabilities are below:
| Year Ended December 31,
In thousands | 2024 |  | 2023
Deferred tax liabilities: |  |  |
Property, plant, and equipment | $ | 5,529 |  |  | $ | — |
| $ | 5,529 |  |  | $ | — |
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 304,244 |  |  | $ | 302,114 |
Mineral properties | 50,824 |  |  | 44,244 |
Property, plant, and equipment | — |  |  | 12,068 |
Mining royalty tax | 8,314 |  |  | 7,345 |
Capital loss carryforwards | 16,910 |  |  | 5,167 |
Asset retirement obligation | 49,306 |  |  | 45,155 |
Accrued expenses | 18,117 |  |  | 25,321 |
Tax credit carryforwards | 13,620 |  |  | 14,506 |
Other long-term assets | 30,612 |  |  | 11,566 |
| $ | 491,947 |  |  | $ | 467,486 |
Valuation allowance | (490,044) |  |  | (479,846) |
| $ | 1,903 |  |  | $ | (12,360) |
Net deferred tax liabilities | $ | 3,626 |  |  | $ | 12,360 |
Summary of Valuation Allowance | Based upon this analysis, the Company has recorded valuation allowances as follows:
| Year Ended December 31,
In thousands | 2024 |  | 2023 |  |
U.S. | $ | 268,119 |  |  | $ | 262,059 |  |  |
Canada | 200,319 |  |  | 194,727 |  |  |
Mexico | 408 |  |  | 723 |  |  |
New Zealand | 21,013 |  |  | 22,229 |  |  |
Other | 185 |  |  | 108 |  |  |
| $ | 490,044 |  |  | $ | 479,846 |  |  |
Summary of Tax Credit Carryforwards | The Company has the following tax attribute carryforwards at December 31, 2024, by jurisdiction:
In thousands | U.S. |  | Canada |  |  |  | Mexico |  | New Zealand |  | Other |  | Total |  |  |  |  |  |
Regular net operating losses | $ | 614,873 |  |  | $ | 457,894 |  |  |  |  | $ | 1,913 |  |  | $ | 76,041 |  |  | $ | 814 |  |  | $ | 1,151,535 |  |  |  |  |  |  |
Expiration years | 2025-2037, Indefinite |  | 2028-2044 |  |  |  | 2029-2035 |  | Indefinite |  | 2025-2029 |  |  |  |  |  |  |  |
Capital losses | 53,483 |  |  | 26,363 |  |  |  |  | — |  |  | — |  |  | — |  |  | 79,846 |  |  |  |  |  |  |
Foreign tax credits | 10,864 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | 10,864 |  |  |  |  |  |  |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2022 | $ | 4 |
Gross increase to current period tax positions | $ | — |
Gross increase to prior period tax positions | $ | 1 |
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | $ | (3) |
Unrecognized tax benefits at December 31, 2023 | $ | 2 |
Gross increase to current period tax positions | $ | — |
Gross increase to prior period tax positions | $ | — |
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations | $ | (2) |
Unrecognized tax benefits at December 31, 2024 | $ | — |

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