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OPERATING SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2013
OPERATING SEGMENT REPORTING  
OPERATING SEGMENT REPORTING

NOTE 9   OPERATING SEGMENT REPORTING

 

McEwen Mining is a mining and minerals exploration company focused on precious metals in Argentina, Mexico and the United States.  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 March 31, 2013

 

 

 

 

 

 

 

 

 

 

 

Gold and silver sales

 

$

—

 

$

13,498

 

$

—

 

$

—

 

$

13,498

 

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

 

(237

)

—

 

—

 

—

 

(237

)

Production costs applicable to sales

 

—

 

10,593

 

—

 

—

 

10,593

 

Mine development costs

 

—

 

471

 

—

 

—

 

471

 

Exploration costs

 

11,462

 

2,485

 

580

 

73

 

14,600

 

Operating loss

 

(11,912

)

(2,050

)

(945

)

(3,460

)

(18,367

)

As at March 31, 2013

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 

273,711

 

—

 

—

 

—

 

273,711

 

Mineral property interests

 

539,092

 

12,282

 

215,301

 

—

 

766,675

 

Total assets

 

818,172

 

46,798

 

219,561

 

40,432

 

1,124,963

 

 

 

 

 

 

 

 

 

 

Corporate &

 

 

 

 

 

Argentina

 

Mexico

 

U.S.

 

Other

 

Total

 

 

 

(in thousands)

 

For the three months ended March 31, 2012

 

 

 

 

 

 

 

 

 

 

 

Income on investment in Minera Santa Cruz S.A. (net of amortization) (as adjusted - note 5)

 

$

3,049

 

$

—

 

$

—

 

$

—

 

$

3,049

 

Mine construction costs

 

—

 

4,363

 

—

 

—

 

4,363

 

Exploration costs

 

4,805

 

4,755

 

1,814

 

410

 

11,784

 

Operating loss

 

(2,423

)

(10,815

)

(2,329

)

(5,557

)

(21,124

)

As at December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 

273,948

 

—

 

—

 

—

 

273,948

 

Mineral property interests

 

539,092

 

12,707

 

215,268

 

—

 

767,067

 

Total assets

 

825,047

 

47,359

 

220,148

 

58,383

 

1,150,937