XML 29 R18.htm IDEA: XBRL DOCUMENT v3.22.2
MINERAL PROPERTIES, PLANT AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
MINERAL PROPERTIES, PLANT AND EQUIPMENT, NET MINERAL PROPERTIES, PLANT AND EQUIPMENT, NET
The components of Mineral properties, plant and equipment, net are as follows (in thousands):
June 30, 2022December 31, 2021
Plant and equipment (1)
$1,755,715 $1,762,833 
Construction in process
 59,304 36,841 
Mineral properties subject to depletion

1,397,838 1,331,615 
Mineral properties not yet subject to depletion
 662,063 141,629 
Exploration and evaluation assets

348,914 927,176 
Total mineral properties, plant, and equipment 4,223,834 4,200,094 
Accumulated depreciation, plant and equipment

(575,939)(529,635)
Accumulated depreciation, mineral properties(460,942)(420,695)
Mineral properties, plant, and equipment, net$3,186,953 $3,249,764 
(1) As of June 30, 2022 and December 31, 2021, plant and equipment includes finance lease right-of-use assets with a carrying amount of $104.4 million and $114.9 million, respectively.
No impairment was recognized for the three and six months ended June 30, 2022. During the three month period ended June 30, 2021, the Company recognized an impairment loss of $22.3 million as a result of the agreement entered into subsequent to June 30, 2021 to sell a portfolio of royalty interests and deferred payments (the “Royalty Sales Agreement”) to EMX Royalty Corporation (“EMX”). For the purposes of impairment assessment and measuring the impairment loss, all of the assets within the portfolio have been grouped as one disposal group (the “Royalty Portfolio”). The impairment loss recognized was calculated based on the difference between the estimated fair value of the Royalty Portfolio and its carrying amount prior to the impairment. The fair value of the Royalty Portfolio was estimated based on the fair value of each of the components of the consideration included in the Royalty Sales Agreement. The $22.3 million impairment loss was recognized in the Company's Exploration, evaluation and development properties segment.