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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Financial Instruments And Fair Value Measurement [Abstract] |
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS | FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS The Company's financial instruments include cash and cash equivalents, marketable securities, trade receivables, restricted cash, other current and non-current financial assets, trade and other payables, debt, lease liabilities, and derivative liabilities. (a)Financial assets and liabilities by category
At December 31, 2020 | Amortized cost | FVTPL | FVTOCI (1) | Total
Financial assets |  |  |  |
Cash and cash equivalents (note 5) | $ | 860,637 |  | $ | — |  | $ | — |  | $ | 860,637 |
Marketable securities (note 6) | — |  | — |  | 26,748 |  | 26,748 |
Trade receivables (2) (note 7) | — |  | 38,456 |  | — |  | 38,456 |
Restricted cash (note 10) | 35,288 |  | — |  | — |  | 35,288 |
Other current and non-current financial assets | 5,228 |  | 10,991 |  | — |  | 16,219 |
Total financial assets | $ | 901,153 |  | $ | 49,447 |  | $ | 26,748 |  | $ | 977,348 |
Financial liabilities |  |  |  |
Trade and other payables | $ | 125,004 |  | $ | — |  | $ | — |  | $ | 125,004 |
Debt (note 14) | 390,670 |  | — |  | — |  | 390,670 |
Lease liabilities (note 16) | 122,715 |  | — |  | — |  | 122,715 |
Derivative liabilities | — |  | 3,881 |  | — |  | 3,881 |
Total financial liabilities | $ | 638,389 |  | $ | 3,881 |  | $ | — |  | $ | 642,270 |
At December 31, 2019 | Amortized cost | FVTPL | FVTOCI (1) | Total
Financial assets |  |  |  |
Cash and cash equivalents (note 5) | $ | 503,647 |  | $ | — |  | $ | — |  | $ | 503,647 |
Marketable securities (note 6) | — |  | — |  | 66,453 |  | 66,453 |
Trade receivables (2) (note 7) | — |  | 54,164 |  | — |  | 54,164 |
Restricted cash (note 10) | 2,339 |  | — |  | — |  | 2,339 |
Other current and non-current financial assets | 13,337 |  | 2,288 |  | 1,000 |  | 16,625 |
Total financial assets | $ | 519,323 |  | $ | 56,452 |  | $ | 67,453 |  | $ | 643,228 |
Financial liabilities |  |  |  |
Trade and other payables | $ | 74,836 |  | $ | — |  | $ | — |  | $ | 74,836 |
Debt (note 14) | 284,049 |  | — |  | — |  | $ | 284,049 |
Lease liabilities (note 16) | 3,792 |  | — |  | — |  | $ | 3,792 |
Total financial liabilities | $ | 362,677 |  | $ | — |  | $ | — |  | $ | 362,677 |
(1)Investments in equity securities were designated as FVTOCI upon initial recognition as the management of the equity securities is not considered to be part of the Company's core operations. Securities in the portfolio are disposed of when they no longer meet the Company's long-term investment strategy. (2)Trade receivables are classified as FVTPL due to the derivative identified through provisional pricing arrangements discussed in note 2(o). 26.FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (continued) (b)Fair value of financial instruments Fair values of financial assets and liabilities measured at fair value The categories of the fair value hierarchy that reflect the significance of inputs used in making fair value measurements are as follows: Level 1 - quoted prices in active markets for identical assets or liabilities; Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 - inputs for the asset or liability that are not based on observable market data. The levels in the fair value hierarchy into which the Company's financial assets and liabilities that are measured and recognized on the consolidated statements of financial position at fair value on a recurring basis were categorized as follows:
| Fair value at December 31, 2020
| Level 1 (1) | Level 2 (2) | Level 3 (3) | Total
Marketable securities (note 6) | $ | 26,748 |  | $ | — |  | $ | — |  | $ | 26,748 |
Trade receivables (note 7) | — |  | 38,456 |  | — |  | 38,456 |
Other financial assets | — |  | 1,243 |  | 9,748 |  | 10,991 |
Derivative liabilities | — |  | (3,881) |  | — |  | (3,881) |
| $ | 26,748 |  | $ | 35,818 |  | $ | 9,748 |  | $ | 72,314 |
| Fair value at December 31, 2019
| Level 1 (1) | Level 2 (2) | Level 3 (3) | Total
Marketable securities (note 6) | $ | 66,453 |  | $ | — |  | $ | — |  | $ | 66,453 |
Trade receivables (note 7) | — |  | 54,164 |  | — |  | 54,164 |
Other financial assets | — |  | 2,641 |  | 647 |  | 3,288 |
| $ | 66,453 |  | $ | 56,805 |  | $ | 647 |  | $ | 123,905 |
(1)Marketable securities of publicly quoted companies, consisting of FVTOCI investments, are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges. (2)Trade receivables relating to sales of concentrate are included in Level 2 as the basis of valuation uses quoted commodity forward prices. Derivative assets and liabilities are included in Level 2 as the basis of valuation uses quoted prices in active markets. (3)Certain items of deferred consideration from the sale of exploration and evaluation assets are included in Level 3, as certain assumptions used in the calculation of the fair value are not based on observable market data. During the years ended December 31, 2020 and 2019, no amounts were transferred between Levels. 26.FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (continued) (b)Fair value of financial instruments (continued) Fair values of financial assets and liabilities not already measured at fair value As at December 31, 2020, the fair value of the 2019 Notes and Term Loan as compared to the carrying amounts were as follows:
|  | December 31, 2020 | December 31, 2019
| Level | Carrying amount | Fair value | Carrying amount | Fair value
2013 Notes (1) | 1 | $ | — |  | $ | — |  | $ | (114,280) |  | $ | (116,581) |
2019 Notes (1) | 1 | (177,582) |  | (317,538) |  | (169,769) |  | (297,735) |
Term Loan | 3 | (210,000) |  | (221,943) |  | — |  | — |
Total borrowings |  | $ | (387,582) |  | $ | (539,481) |  | $ | (284,049) |  | $ | (414,316) |
(1)The fair value disclosed for the Company's 2013 Notes and 2019 Notes is included in Level 1 as the basis of valuation uses a quoted price in an active market. The carrying amount of such convertible notes represents the debt component of the convertible notes, while the fair value represents both the debt and equity components of the convertible notes (see note 14(a)).

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