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OPERATING SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
OPERATING SEGMENT REPORTING |
Schedule of significant information relating to reportable operating segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2024 |  | USA |  | Canada | ​ | Mexico | ​ | MSC |  | McEwen Copper | ​ | Total
Revenue from gold and silver sales | ​ | $ | 105,147 | ​ | $ | 67,808 | ​ | $ | 1,522 | ​ | $ | — | ​ | $ | — | ​ | $ | 174,477
Production costs applicable to sales (1) | ​ | ​ | (63,547) | ​ | ​ | (49,766) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | (113,313)
Depreciation and depletion (1) | ​ | ​ | (12,657) | ​ | ​ | (17,572) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (30,229)
Gross profit | ​ | ​ | 28,943 | ​ | ​ | 470 | ​ | ​ | 1,522 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 30,935
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7,152) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (7,152)
Exploration (1) | ​ | ​ | (8,420) | ​ | ​ | (8,126) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | (16,546)
Income (loss) from equity method investments (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,021 | ​ | ​ | (46,977) | ​ |  | (37,956)
Other segment items (3) | ​ | ​ | (1,968) | ​ | ​ | 334 | ​ | ​ | (3,644) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (5,278)
Segment profit (loss) | ​ | $ | 18,555 | ​ | $ | (7,322) | ​ | $ | (9,274) | ​ | $ | 9,021 | ​ | $ | (46,977) | ​ | $ | (35,997)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unallocated amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dilution gain from investments in McEwen Copper Inc. (Note 9) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,777
General and administrative (4) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (13,303)
Depreciation (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (475)
Interest and other finance expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,033)
Other income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 292
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (46,739)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 17,789 | ​ | $ | 23,288 | ​ | $ | 2,018 | ​ | $ | — | ​ | $ | — | ​ | $ | 43,095
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2023 |  | USA |  | Canada |  | Mexico |  | MSC |  | McEwen Copper (6) | ​ | Total
Revenue from gold and silver sales | ​ | $ | 83,409 | ​ | $ | 81,295 | ​ | $ | 1,527 | ​ | $ | — | ​ | $ | — | ​ | $ | 166,231
Production costs applicable to sales (1) | ​ | ​ | (67,335) | ​ | ​ | (51,895) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (119,230)
Depreciation and depletion (1) | ​ | ​ | (7,130) | ​ | ​ | (22,091) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (29,221)
Gross profit | ​ | ​ | 8,944 | ​ | ​ | 7,309 | ​ | ​ | 1,527 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,780
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (6,292) | ​ | ​ | — | ​ | ​ | (76,345) | ​ | ​ | (82,637)
Exploration (1) | ​ | ​ | (6,225) | ​ | ​ | (13,556) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (386) | ​ | ​ | (20,167)
Income (loss) from equity method investments (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 62 | ​ | ​ | (57,821) | ​ | ​ | (57,759)
Other segment items (3) | ​ | ​ | (1,891) | ​ | ​ | (220) | ​ | ​ | (5,002) | ​ | ​ | — | ​ | ​ | 7,484 | ​ | ​ | 371
Segment profit (loss) | ​ | $ | 828 | ​ | $ | (6,467) | ​ | $ | (9,767) | ​ | $ | 62 | ​ | $ | (127,068) | ​ | $ | (142,412)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unallocated amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gain on deconsolidation of McEwen Copper Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 222,157
General and administrative (4) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7,335)
Depreciation (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (510)
Interest and other finance expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,598)
Other income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 734
Profit before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 67,036
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 9,028 | ​ | $ | 9,131 | ​ | $ | 1,258 | ​ | $ | — | ​ | $ | 6,781 | ​ | $ | 26,198
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 (1) | ​ | ​ | (43,500) | ​ | ​ | (36,845) | ​ | ​ | (10,915) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (91,260)
Depreciation and depletion (1) | ​ | ​ | (4,737) | ​ | ​ | (14,964) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (19,701)
Gross (loss) profit | ​ | ​ | (311) | ​ | ​ | 9,039 | ​ | ​ | (9,272) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (544)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Advanced projects (1) | ​ | ​ | (52) | ​ | ​ | (1,206) | ​ | ​ | (4,322) | ​ | ​ | — | ​ | ​ | (61,148) | ​ | ​ | (66,728)
Exploration (1) | ​ | ​ | (4,828) | ​ | ​ | (9,443) | ​ | ​ | (2) | ​ | ​ | — | ​ | ​ | (700) | ​ | ​ | (14,973)
Income from equity method investments (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,776 | ​ | ​ | — | ​ | ​ | 2,776
Other segment items (3) | ​ | ​ | (1,823) | ​ | ​ | (546) | ​ | ​ | (1,513) | ​ | ​ | — | ​ | ​ | 14,461 | ​ | ​ | 10,579
Segment profit (loss) | ​ | $ | (7,014) | ​ | $ | (2,156) | ​ | $ | (15,109) | ​ | $ | 2,776 | ​ | $ | (47,387) | ​ | $ | (68,890)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unallocated amounts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative (4) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (4,111)
Depreciation (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (497)
Interest and other finance expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,497)
Other expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (293)
Loss before income and mining taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (80,288)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | 5,374 | ​ | $ | 15,317 | ​ | $ | 2,800 | ​ | $ | — | ​ | $ | 2,743 | ​ | $ | 26,234
​
| (1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to CODM.
| (2) | Operating results of MSC on a 100% basis are presented in Note 9 – Equity Method Investments.
| (3) | Other segment items include:
| a. | General and administrative expenses attributable to the segment
| b. | Depreciation unrelated to production activities of the segment
| c. | Accretion expense
| d. | Interest (other than on long-term debt)
| e. | Other (income) expenses
| f. | Foreign currency loss (gain)
| (4) | General and administrative expenses are comprised primarily of corporate expenses not attributable to any reporting segment.
| (5) | Depreciation is attributable to corporate assets and other non-productive assets.
| (6) | 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.
Schedule of geographic information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Non-current Assets | ​ | ​ | Revenue (1)
​ | ​ | December 31, | ​ | December 31, | ​ | ​ | Year ended December 31,
​ |  | 2024 |  | 2023 | ​ |  | 2024 | ​ | 2023 | ​ | 2022
USA | ​ | $ | 100,488 | ​ | $ | 71,234 | ​ | ​ | $ | 105,147 | ​ | $ | 83,409 | ​ | $ | 47,926
Canada | ​ | ​ | 89,822 | ​ | ​ | 83,674 | ​ | ​ | ​ | 67,808 | ​ | ​ | 81,295 | ​ | ​ | 60,848
Mexico | ​ | ​ | 32,320 | ​ | ​ | 30,304 | ​ | ​ | ​ | 1,522 | ​ | ​ | 1,527 | ​ | ​ | 1,643
Argentina (2)(3) | ​ | ​ | 400,801 | ​ | ​ | 419,366 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Consolidated | ​ | $ | 623,431 | ​ | $ | 604,578 | ​ | ​ | $ | 174,477 | ​ | $ | 166,231 | ​ | $ | 110,417
​
(1) | Presented based on the location from which the product originated.
(2) | Includes investment in MSC of $101.9 million as of December 31, 2024 (December 31, 2023 - $93.2 million).
(3) | Includes investment in McEwen Copper of $298.9 million as of December 31, 2024 (December 31, 2023 - $326.1 million).
Summary of revenue from gold and silver sales for significant customers | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ | 2024 | ​ | 2023 | ​ | ​ | 2022
Asahi Refining Inc. | ​ | $ | 112,298 | ​ | $ | 24,639 | ​ | $ | 57,835
Auramet International LLC (“Auramet”) | ​ | ​ | 56,869 | ​ | ​ | 136,911 | ​ | ​ | 50,580
Other | ​ | ​ | 5,310 | ​ | ​ | 4,681 | ​ | ​ | 2,002
Revenue from gold and silver sales | ​ | $ | 174,477 | ​ | $ | 166,231 | ​ | $ | 110,417
​

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- Definition Tabular disclosure of long-lived assets and revenue, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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