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BUSINESS ACQUISITION (Tables) | 12 Months Ended
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Dec. 31, 2013
BUSINESS ACQUISITION |
Schedule of allocation of the purchase price | The allocation of the purchase price, based on the estimated fair value of assets acquired and liabilities assumed on January 24, 2012, is summarized in the following table (in thousands):
|  | Fair Value |
--- | --- | --- | ---
Purchase price: |  |  |  |
Exchangeable shares of McEwen Mining-Minera Andes Acquisition Corp. |  | $ | 664,671 |
Stock options to be exchanged for options of McEwen Mining Inc. |  |  | 3,175 |
​ | ​ | ​ | ​ | ​
|  | $ | 667,846 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Net assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 31,385 |
Short-term investments |  |  | 4,952 |
Other current assets |  |  | 9,828 |
Inventories |  |  | 1,362 |
Mineral property interests |  |  | 539,092 |
Investment in Minera Santa Cruz S.A. |  |  | 262,883 |
Equipment |  |  | 1,647 |
Accounts payable |  |  | (5,323 | )
Deferred income tax liability |  |  | (177,980 | )
​ | ​ | ​ | ​ | ​
|  | $ | 667,846 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Schedule of pro forma results for the entity, had the acquisition been completed within the period | The following table sets forth on a pro forma basis, the results of operations for McEwen Mining, had the acquisition of Minera Andes been completed on January 1, 2012 and 2011 (in thousands):
Year ended December 31, 2012 |  | McEwen Mining |  | Minera Andes(1) |  | Combined |
--- | --- | --- | --- | --- | --- | --- | ---
Revenue |  | $ | 26,801 |  | $ | 4,979 |  | $ | 31,780 |
Net (loss) income for the year |  |  | (66,654 | ) |  | 3,498 |  |  | (63,156 | )
Year ended December 31, 2011 |  | McEwen Mining |  | Minera Andes |  | Combined |
--- | --- | --- | --- | --- | --- | --- | ---
Revenue |  | $ | — |  | $ | 44,982 |  | $ | 44,982 |
Net (loss) income for the year |  |  | (61,872 | ) |  | 26,542 |  |  | (35,330 | )
(1) Year ended December 31, 2012 represents the results of Minera Andes' operations from January 1, 2012 through January 24, 2012, closing date of the acquisition. Beginning January 25, 2012, the results of Minera Andes' operations are included in McEwen Mining's consolidated financial statements.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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