XML 39 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
OPERATING SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2012
OPERATING SEGMENT REPORTING  
OPERATING SEGMENT REPORTING

NOTE 11   OPERATING SEGMENT REPORTING

 

McEwen Mining is engaged in the exploration for and production of precious metals in the U.S., Mexico and Argentina. The Company identifies its reportable segments as those consolidated operations that are currently engaged in the exploration for and production of precious metals.  Operations not actively engaged in the exploration for, or production of precious metals, are aggregated at the corporate level for segment reporting purposes.

 

 

 

 

 

 

 

 

 

Corporate &

 

 

 

 

 

Argentina

 

Mexico

 

U.S.

 

Other

 

Total

 

 

 

(in thousands)

 

For the three months ended June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

Income on investment in Minera Santa Cruz S.A. (net of amortization)

 

$

(208

)

$

—

 

$

—

 

$

—

 

$

(208

)

Exploration costs

 

5,025

 

3,792

 

1,092

 

164

 

10,073

 

Mine construction costs

 

—

 

6,994

 

—

 

—

 

6,994

 

Mine development and operating costs

 

—

 

3,494

 

—

 

—

 

3,494

 

Operating loss

 

(6,153

)

(15,268

)

(1,301

)

(3,024

)

(25,746

)

For the six months ended June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

Income on investment in Minera Santa Cruz S.A. (net of amortization)

 

$

990

 

$

—

 

$

—

 

$

—

 

$

990

 

Exploration costs

 

9,830

 

8,547

 

2,906

 

574

 

21,857

 

Mine construction costs

 

—

 

8,635

 

—

 

—

 

8,635

 

Mine development and operating costs

 

—

 

6,216

 

—

 

—

 

6,216

 

Operating loss

 

(10,427

)

(26,083

)

(3,630

)

(8,581

)

(48,721

)

As at June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 

$

225,989

 

$

—

 

$

—

 

$

—

 

$

225,989

 

Mineral property interests

 

597,374

 

13,735

 

232,655

 

—

 

843,764

 

Total assets

 

843,476

 

39,552

 

237,926

 

16,264

 

1,137,218

 

 

 

 

 

 

 

 

 

 

Corporate &

 

 

 

 

 

Argentina

 

Mexico

 

U.S.

 

Other

 

Total

 

 

 

(in thousands)

 

For the three months ended June 30, 2011

 

 

 

 

 

 

 

 

 

 

 

Exploration costs

 

—

 

$

7,185

 

$

3,144

 

$

297

 

$

10,626

 

Operating loss

 

—

 

(7,639

)

(4,175

)

(1,594

)

(13,408

)

For the six months ended June 30, 2011

 

 

 

 

 

 

 

 

 

 

 

Exploration costs

 

—

 

$

12,024

 

$

4,952

 

$

559

 

$

17,535

 

Operating loss

 

—

 

(13,532

)

(5,974

)

(3,379

)

(22,885

)

As at December 31, 2011

 

 

 

 

 

 

 

 

 

 

 

Mineral property interests

 

—

 

$

12,750

 

$

232,704

 

$

—

 

$

245,454

 

Total assets

 

—

 

33,899

 

238,402

 

38,054

 

310,355