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EQUITY INVESTMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
McEwen Copper Inc |
Schedule of Equity Method Investments [Line Items] |
Summary of MSC's financial information from operations | ​
​ | ​ | ​
​ | December 31, 2023
McEwen Copper (100%) | ​ | ​
Advanced projects | $ | (36,475)
Other expenses | ​ | (4,684)
Foreign exchange loss | ​ | (99,338)
Interest and other income | ​ | 19,356
Net loss before tax | $ | (121,141)
Current and deferred taxes | ​ | -
Net loss | $ | (121,141)
​ | ​ | ​
Portion attributable to McEwen Mining (47.7%) | ​ | ​
Net income loss on investment in McEwen Copper | $ | (57,821)
Schedule of change in the entity's investment in MSC | ​
​ | ​ | ​
​ | December 31, 2023
Investment, beginning of year | $ | —
Deconsolidation of McEwen Copper (Note 20) | ​ | 383,968
Attributable net loss from McEwen Copper | ​ | (57,821)
Investment, end of year | $ | 326,147
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2023 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 104,195 | ​ | $ | — | ​ | $ | 104,195
Total assets | ​ | $ | 281,353 | ​ | $ | 262,494 | ​ | $ | 543,847
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (23,988) | ​ | $ | — | ​ | $ | (23,988)
Total liabilities | ​ | $ | (24,287) | ​ | $ | — | ​ | $ | (24,287)
Minera Santa Cruz S.A. |
Schedule of Equity Method Investments [Line Items] |
Summary of MSC's financial information from operations |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2023 | ​ | 2022 | ​ | ​ | 2021
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | $ | 254,926 | ​ | $ | 254,698 | ​ | $ | 271,863
Production costs applicable to sales | ​ | (177,234) | ​ | ​ | (182,195) | ​ | ​ | (196,033)
Depreciation and depletion | ​ | (58,935) | ​ | ​ | (32,200) | ​ | ​ | (39,948)
Gross profit | ​ | 18,757 | ​ | ​ | 40,303 | ​ | ​ | 35,882
Exploration | ​ | (9,346) | ​ | ​ | (8,946) | ​ | ​ | (10,602)
Other expenses(1) | ​ | (3,977) | ​ | ​ | (19,715) | ​ | ​ | (17,077)
Net income before tax | $ | 5,434 | ​ | $ | 11,642 | ​ | $ | 8,203
Current and deferred tax recovery (expense) | ​ | 3,051 | ​ | ​ | 1,221 | ​ | ​ | (7,934)
Net income | $ | 8,485 | ​ | $ | 12,863 | ​ | $ | 269
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. (49%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | $ | 4,157 | ​ | $ | 6,303 | ​ | $ | 132
Amortization of fair value increments |  | (4,612) | ​ |  | (4,155) | ​ |  | (8,331)
Income tax recovery | ​ | 517 | ​ | ​ | 628 | ​ | ​ | 666
Income (loss) from investment in MSC, net of amortization | $ | 62 | ​ | $ | 2,776 | ​ | $ | (7,533)
(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 | Changes in the Company’s investment in MSC for the years ended December 31, 2023, and 2022 are as follows:
​ | ​ | ​ | ​ | ​ | ​
​ | December 31, 2023 |  | December 31, 2022
Investment, beginning of year | $ | 93,451 | ​ | $ | 90,961
Attributable net income from MSC | ​ | 4,157 | ​ | ​ | 6,303
Amortization of fair value increments |  | (4,612) | ​ |  | (4,155)
Income tax recovery | ​ | 517 | ​ | ​ | 628
Dividend distribution received |  | (295) | ​ |  | (286)
Investment, end of year | $ | 93,218 | ​ | $ | 93,451
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2023 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 101,572 | ​ | $ | 937 | ​ | $ | 102,509
Total assets | ​ | $ | 196,617 | ​ | $ | 71,528 | ​ | $ | 268,145
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (44,785) | ​ | $ | — | ​ | $ | (44,785)
Total liabilities | ​ | $ | (77,742) | ​ | $ | (239) | ​ | $ | (77,981)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2022 | ​ | Balance excluding FV increments | ​ | Adjustments | ​ | Balance including FV increments
Current assets | ​ | $ | 98,956 | ​ | $ | 1,103 | ​ | $ | 100,059
Total assets | ​ | $ | 204,671 | ​ | $ | 81,434 | ​ | $ | 286,105
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (60,584) | ​ | $ | — | ​ | $ | (60,584)
Total liabilities | ​ | $ | (82,185) | ​ | $ | (1,295) | ​ | $ | (83,480)
​

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