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INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables) | 12 Months Ended
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Dec. 31, 2021
INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE |
Summary of MSC's financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, | ​
​ | ​ | 2021 | ​ | 2020 | ​ | ​ | 2019 |
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | ​ | $ | 271,863 | ​ | $ | 219,020 | ​ | $ | 263,887 | ​
Production costs applicable to sales | ​ | ​ | (196,033) | ​ | ​ | (138,182) | ​ | ​ | (159,915) | ​
Depreciation and depletion | ​ | ​ | (39,948) | ​ | ​ | (29,809) | ​ | ​ | (69,995) | ​
Gross profit | ​ | ​ | 35,882 | ​ | ​ | 51,029 | ​ | ​ | 33,977 | ​
Exploration | ​ | ​ | (10,602) | ​ | ​ | (10,446) | ​ | ​ | (10,635) | ​
Other expenses(1) | ​ | ​ | (17,077) | ​ | ​ | (30,515) | ​ | ​ | (13,065) | ​
Net income before tax | ​ | $ | 8,203 | ​ | $ | 10,068 | ​ | $ | 10,277 | ​
Current and deferred tax expense | ​ | ​ | (7,934) | ​ | ​ | (4,466) | ​ | ​ | (14,556) | ​
Net income (loss) | ​ | $ | 269 | ​ | $ | 5,602 | ​ | $ | (4,279) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. (49%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) | ​ | $ | 132 | ​ | $ | 2,745 | ​ | $ | (2,097) | ​
Amortization of fair value increments | ​ |  | (8,331) | ​ |  | (5,390) | ​ |  | (9,448) | ​
Income tax recovery | ​ | ​ | 666 | ​ | ​ | 1,128 | ​ | ​ | 2,791 | ​
(Loss) income from investment in MSC, net of amortization | ​ | $ | (7,533) | ​ | $ | (1,517) | ​ | $ | (8,754) | ​
(1) | Other expenses include foreign exchange, accretion of asset retirement obligations and other finance related expenses.
Schedule of change in the entity's investment in MSC | ​
​ | ​ | ​ | ​ | ​ | ​
​ | December 31, 2021 |  | December 31, 2020
Investment in MSC, beginning of period | $ | 108,326 | ​ | $ | 110,183
Attributable net income from MSC | ​ | 132 | ​ | ​ | 2,745
Amortization of fair value increments |  | (8,331) | ​ |  | (5,390)
Income tax recovery | ​ | 666 | ​ | ​ | 1,128
Dividend distribution received |  | (9,832) | ​ |  | (340)
Investment in MSC, end of period | $ | 90,961 | ​ | $ | 108,326
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2021 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 89,876 | ​ | $ | 469 | ​ | $ | 90,345
Total assets | ​ | $ | 180,302 | ​ | $ | 89,975 | ​ | $ | 270,277
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (51,244) | ​ | $ | — | ​ | $ | (51,244)
Total liabilities | ​ | $ | (82,075) | ​ | $ | (2,577) | ​ | $ | (84,652)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2020 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 94,965 | ​ | $ | 362 | ​ | $ | 95,327
Total assets | ​ | $ | 186,438 | ​ | $ | 107,821 | ​ | $ | 294,259
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (40,396) | ​ | $ | — | ​ | $ | (40,396)
Total liabilities | ​ | $ | (69,255) | ​ | $ | (3,936) | ​ | $ | (73,191)

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