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SEGMENTED INFORMATION
 3 Months Ended
Mar. 31, 2015
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 operating segments as of, and for three months ended March 31, 2015 and 2014 is as follows:

 

 

 

For the three months ended March 31, 2015

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

Argentina

 

Mexico

 

U.S.

 

& Other

 

Total

 

 

 

(in thousands)

 

For the three months ended March 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Gold and silver sales

 

$

—

 

$
22,882

 

$

—

 

$

—

 

$
22,882

 

Production costs applicable to sales

 

—

 
(10,454

)

—

 

—

 
(10,454

)

Mine development costs

 

—

 
(174

)

—

 

—

 
(174

)

Exploration costs

 
(263

)
(1,599

)
(389

)
(91

)
(2,342

)

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

 
329

 

—

 

—

 

—

 
329

 

Operating income (loss)

 
(219

)
8,347

 
(681

)
(2,279

)
5,168

 

 

 

 

 

 

 

 

 

 

 

 

 

As at March 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 
177,347

 

—

 

—

 

—

 
177,347

 

Mineral property interests

 
202,889

 
10,374

 
74,227

 

—

 
287,490

 

Total assets

 
382,883

 
58,970

 
74,885

 
9,995

 
526,733

 

 

 

 

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 December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

Investment in Minera Santa Cruz S.A.

 
177,018

 

—

 

—

 

—

 
177,018

 

Mineral property interests

 
202,889

 
10,696

 
74,227

 

—

 
287,812

 

Total assets

 
382,637

 
58,936

 
74,806

 
6,579

 
522,958