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OPERATING SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2023
OPERATING SEGMENT REPORTING |
Schedule of significant information relating to reportable operating segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2023 |  | USA |  | ​ | Canada | ​ | Mexico | ​ | MSC |  | McEwen Copper (1) | ​ | Total
Revenue from gold and silver sales | ​ | $ | 83,409 | ​ | $ | 81,295 | ​ | $ | 1,527 | ​ | $ | — | ​ | $ | — | ​ | $ | 166,231
Production costs applicable to sales | ​ | ​ | (67,335) | ​ | ​ | (51,895) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | (119,230)
Depreciation and depletion | ​ | ​ | (7,130) | ​ | ​ | (22,091) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (29,221)
Gross profit | ​ | ​ | 8,944 | ​ | ​ | 7,309 | ​ | ​ | 1,527 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,780
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,292) | ​ | ​ | — | ​ | ​ | (76,345) | ​ |  | (82,637)
Exploration | ​ | ​ | (6,225) | ​ | ​ | (13,556) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (386) | ​ |  | (20,167)
Income (loss) from equity investments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 62 | ​ | ​ | (57,821) | ​ |  | (57,759)
Segment loss | ​ | $ | 2,719 | ​ | $ | (6,247) | ​ | $ | (4,765) | ​ | $ | 62 | ​ | $ | (134,552) | ​ | $ | (142,783)
Gain on deconsolidation of McEwen Copper Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 222,157
General and administrative and other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,338)
Income before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 67,036
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 9,028 | ​ | $ | 9,131 | ​ | $ | 1,258 | ​ | $ | — | ​ | $ | 6,781 | ​ | $ | 26,198
(1) | Includes the consolidated results for McEwen Copper for the period from January 1, 2023 to October 10, 2023 and the loss from the equity accounted investment for the period from October 11, 2023 to December 31, 2023.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2022 |  | USA |  | Canada |  | Mexico |  | MSC |  | McEwen Copper | ​ | Total
Revenue from gold and silver sales | ​ | $ | 47,926 | ​ | $ | 60,848 | ​ | $ | 1,643 | ​ | $ | — | ​ | $ | — | ​ | $ | 110,417
Production costs applicable to sales | ​ | ​ | (43,500) | ​ | ​ | (36,845) | ​ | ​ | (10,915) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (91,260)
Depreciation and depletion | ​ | ​ | (4,737) | ​ | ​ | (14,964) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (19,701)
Gross (loss) profit | ​ | ​ | (311) | ​ | ​ | 9,039 | ​ | ​ | (9,272) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (544)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects | ​ | ​ | (52) | ​ | ​ | (1,206) | ​ | ​ | (4,322) | ​ | ​ | — | ​ | ​ | (61,148) | ​ | ​ | (66,728)
Exploration | ​ | ​ | (4,828) | ​ | ​ | (9,443) | ​ | ​ | (2) | ​ | ​ | — | ​ | ​ | (700) | ​ | ​ | (14,973)
Income from equity investments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,776 | ​ | ​ | — | ​ | ​ | 2,776
Segment (loss) income | ​ | $ | (5,191) | ​ | $ | (1,610) | ​ | $ | (13,596) | ​ | $ | 2,776 | ​ | $ | (61,848) | ​ | $ | (79,469)
General and administrative and other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (819)
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (80,288)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 5,374 | ​ | $ | 15,317 | ​ | $ | 2,800 | ​ | $ | — | ​ | $ | 2,743 | ​ | $ | 26,234
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2021 |  | USA |  | Canada |  | Mexico |  | MSC |  | McEwen Copper | ​ | Total
Revenue from gold and silver sales | ​ | $ | 79,205 | ​ | $ | 50,704 | ​ | $ | 6,632 | ​ | $ | — | ​ | $ | — | ​ | $ | 136,541
Production costs applicable to sales | ​ | ​ | (73,990) | ​ | ​ | (32,961) | ​ | ​ | (12,272) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (119,223)
Depreciation and depletion | ​ | ​ | (8,502) | ​ | ​ | (15,296) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (23,798)
Gross (loss) profit | ​ | ​ | (3,287) | ​ | ​ | 2,447 | ​ | ​ | (5,640) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,480)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects | ​ | ​ | (440) | ​ | ​ | (2,635) | ​ | ​ | (4,345) | ​ | ​ | — | ​ | ​ | (5,019) | ​ | ​ | (12,439)
Exploration | ​ | ​ | (5,875) | ​ | ​ | (15,017) | ​ | ​ | (14) | ​ | ​ | — | ​ | ​ | (1,698) | ​ | ​ | (22,604)
Loss from equity investments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7,533) | ​ | ​ | — | ​ | ​ | (7,533)
Segment loss | ​ | $ | (9,602) | ​ | $ | (15,205) | ​ | $ | (9,999) | ​ | $ | (7,533) | ​ | $ | (6,717) | ​ | $ | (49,056)
General and administrative and other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (15,143)
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (64,199)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 2,416 | ​ | $ | 33,617 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 36,033
Schedule of geographic information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Non-current Assets | ​ | ​ | Revenue (1)
​ | ​ | December 31, | ​ | December 31, | ​ | ​ | Year ended December 31,
​ |  | 2023 |  | 2022 |  |  | 2023 | ​ | 2022 | ​ | 2021
USA | ​ | $ | 71,234 | ​ | $ | 70,577 | ​ | ​ | $ | 83,409 | ​ | $ | 47,926 | ​ | $ | 79,205
Canada | ​ | ​ | 83,674 | ​ | ​ | 91,552 | ​ | ​ | ​ | 81,295 | ​ | ​ | 60,848 | ​ | ​ | 50,704
Mexico | ​ | ​ | 30,304 | ​ | ​ | 29,219 | ​ | ​ | ​ | 1,527 | ​ | ​ | 1,643 | ​ | ​ | 6,632
Argentina (2), (3) | ​ | ​ | 419,366 | ​ | ​ | 255,718 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Consolidated | ​ | $ | 604,578 | ​ | $ | 447,066 | ​ | ​ | $ | 166,231 | ​ | $ | 110,417 | ​ | $ | 136,541
(1) | Presented based on the location from which the product originated.
(2) | Includes Investment in MSC of $93.2 million as of December 31, 2023 (December 31, 2022 - $93.5 million).
(3) | Includes Investment in McEwen Copper of $326.1 million as of December 31, 2023 (December 31, 2022 - $nil).
Summary of revenue from gold and silver sales for significant customers | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ |  | 2023 | ​ | ​ | 2022 | ​ | ​ | 2021
Auramet International LLC (“Auramet”) | $ | 136,911 | ​ | $ | 50,580 | ​ | $ | —
Asahi Refining Inc. | ​ | 24,639 | ​ | ​ | 57,835 | ​ | ​ | 134,395
Other | ​ | 4,681 | ​ | ​ | 2,002 | ​ | ​ | 2,146
Revenue from gold and silver sales | $ | 166,231 | ​ | $ | 110,417 | ​ | $ | 136,541
​

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