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FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, by Balance Sheet Grouping | The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy (in thousands):
| Fair value at September 30, 2025 |
| Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 409,332 |  |  | $ | — |  |  | $ | — |  |  | $ | 409,332 |  |
Marketable securities (1) |  | 50,636 |  |  |  | — |  |  |  | — |  |  |  | 50,636 |  |
Trade receivables from provisional sales, net (2) |  | — |  |  |  | 76,499 |  |  |  | — |  |  |  | 76,499 |  |
Deferred consideration |  | — |  |  |  | — |  |  |  | 25,491 |  |  |  | 25,491 |  |
| $ | 459,968 |  |  | $ | 76,499 |  |  | $ | 25,491 |  |  | $ | 561,958 |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liabilities | $ | — |  |  | $ | — |  |  | $ | 178,306 |  |  | $ | 178,306 |  |
Other |  | — |  |  |  | 180 |  |  |  | — |  |  |  | 180 |  |
| $ | — |  |  | $ | 180 |  |  | $ | 178,306 |  |  | $ | 178,486 |  |
(1)Marketable securities of publicly quoted companies, consisting of investments, are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges. (2)The Company’s provisional metal sales contracts, included in Trade and other receivables in the Condensed Consolidated Balance Sheets, are valued using inputs derived from observable market data, including quoted commodity forward prices. The inputs do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
| Fair value at December 31, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 387,882 |  |  | $ | — |  |  | $ | — |  |  | $ | 387,882 |
Marketable securities (1) |  | 34,631 |  |  |  | — |  |  |  | — |  |  |  | 34,631 |
Trade receivables from provisional sales, net (2) |  | — |  |  |  | 78,687 |  |  |  | — |  |  |  | 78,687 |
Deferred consideration |  | — |  |  |  | — |  |  |  | 26,383 |  |  |  | 26,383 |
| $ | 422,513 |  |  | $ | 78,687 |  |  | $ | 26,383 |  |  | $ | 527,583 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Contingent consideration liabilities | $ | — |  |  | $ | — |  |  | $ | 29,642 |  |  | $ | 29,642 |
Other |  | — |  |  |  | 68 |  |  |  | — |  |  |  | 68 |
| $ | — |  |  | $ | 68 |  |  | $ | 29,642 |  |  | $ | 29,710 |
(1)Marketable securities of publicly quoted companies, consisting of investments, are valued using a market approach based upon unadjusted quoted prices in an active market obtained from securities exchanges. (2)The Company’s provisional metal sales contracts, included in Trade and other receivables in the Condensed Consolidated Balance Sheets, are valued using inputs derived from observable market data, including quoted commodity forward prices. The inputs do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table reconciles the beginning and ending balances for financial instruments that are recognized at fair value using significant unobservable inputs (Level 3) in the consolidated financial statements (in thousands):
| Nine Months Ended September 30, |
| 2025 |  | 2024 |
Deferred consideration assets: |  |  |  |  |  |
Balance as of January 1 | $ | 26,383 |  |  | $ | 21,213 |  |
Revaluations |  | 358 |  |  |  | 2,208 |  |
Additions |  | — |  |  |  | 2,378 |  |
Collections |  | (1,250) |  |  |  | — |  |
Balance as of September 30 | $ | 25,491 |  |  | $ | 25,799 |  |
| Nine Months Ended September 30, |
| 2025 |  | 2024 |
Contingent consideration liabilities: |  |  |  |  |
Balance as of January 1 | $ | 29,642 |  |  | $ | 29,648 |  |
Revaluations |  | 6,900 |  |  |  | (1,492) |  |
Additions |  | 141,764 |  |  |  | — |  |
Balance as of September 30 | $ | 178,306 |  |  | $ | 28,156 |  |
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table reconciles the beginning and ending balances for financial instruments that are recognized at fair value using significant unobservable inputs (Level 3) in the consolidated financial statements (in thousands):
| Nine Months Ended September 30, |
| 2025 |  | 2024 |
Deferred consideration assets: |  |  |  |  |  |
Balance as of January 1 | $ | 26,383 |  |  | $ | 21,213 |  |
Revaluations |  | 358 |  |  |  | 2,208 |  |
Additions |  | — |  |  |  | 2,378 |  |
Collections |  | (1,250) |  |  |  | — |  |
Balance as of September 30 | $ | 25,491 |  |  | $ | 25,799 |  |
| Nine Months Ended September 30, |
| 2025 |  | 2024 |
Contingent consideration liabilities: |  |  |  |  |
Balance as of January 1 | $ | 29,642 |  |  | $ | 29,648 |  |
Revaluations |  | 6,900 |  |  |  | (1,492) |  |
Additions |  | 141,764 |  |  |  | — |  |
Balance as of September 30 | $ | 178,306 |  |  | $ | 28,156 |  |
Schedule of Fair Value Disclosure of Asset and Liability Not Measured at Fair Value | The fair value of the 2019 Notes as compared to the carrying amounts were as follows (in thousands):
|  |  | September 30, 2025 |  | December 31, 2024
| Level |  | Carrying amount |  | Fair value |  | Carrying amount |  | Fair value
2019 Notes (1) | 1 |  | $ | 229,365 |  |  | $ | 324,646 |  |  | $ | 228,572 |  |  | $ | 220,292 |
(1)The fair value disclosed for the Company's 2019 Notes is included in Level 1 as the basis of valuation uses a quoted price in an active market.

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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