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SEGMENTED INFORMATION
 3 Months Ended
Mar. 31, 2014
SEGMENTED INFORMATION  
SEGMENTED INFORMATION

NOTE 11   SEGMENTED INFORMATION

 

McEwen Mining is a mining and minerals exploration, development and production 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.

 

The financial information relating to the Company’s segments as of, and for the three months ended, March 31, 2014 and 2013 is as follows:

 

 

 

For the three months ended March 31, 2014

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

Argentina

 

Mexico

 

U.S.

 

& Other

 

Total

 

 

 

(in thousands)

 

For the three months ended March 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Gold and silver sales

 

$

—

 

$

11,130

 

$

—

 

$

—

 

$

11,130

 

Production costs applicable to sales

 

—

 

(8,527

)

—

 

—

 

(8,527

)

Mine construction costs

 

—

 

(939

)

—

 

—

 

(939

)

Mine development costs

 

—

 

(1,568

)

—

 

—

 

(1,568

)

Exploration costs

 

(501

)

(1,388

)

(686

)

(105

)

(2,680

)

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

 

7,029

 

—

 

—

 

—

 

7,029

 

Operating income (loss)

 

6,258

 

(3,048

)

(1,429

)

(2,343

)

(562

)

 

 

 

 

 

 

 

 

 

 

 

 

As at March 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 

216,031

 

—

 

—

 

—

 

216,031

 

Mineral property interests

 

458,203

 

11,662

 

172,781

 

—

 

642,646

 

Total assets

 

677,246

 

57,433

 

176,862

 

13,070

 

924,611

 

 

 

 

For the three months ended March 31, 2013

 

 

 

 

 

 

 

 

 

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

 

Production costs applicable to sales

 

—

 

(10,593

)

—

 

—

 

(10,593

)

Mine development costs

 

—

 

(471

)

—

 

—

 

(471

)

Exploration costs

 

(11,462

)

(2,485

)

(580

)

(73

)

(14,600

)

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

 

(237

)

—

 

—

 

—

 

(237

)

Operating loss

 

(11,912

)

(2,050

)

(945

)

(3,460

)

(18,367

)

 

 

 

 

 

 

 

 

 

 

 

 

As at December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 

212,947

 

—

 

—

 

—

 

212,947

 

Mineral property interests

 

458,203

 

11,984

 

172,781

 

—

 

642,968

 

Total assets

 

674,269

 

54,131

 

177,248

 

17,418

 

923,066