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EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
McEwen Copper |
EQUITY METHOD INVESTMENTS |
Summary of financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Period ended December 31,
​ | 2024 | ​ | 2023
McEwen Copper (100%) | ​ | ​ | ​ | ​ | ​
Advanced projects | $ | (114,544) | ​ | $ | (36,475)
Other expenses | ​ | (6,196) | ​ | ​ | (4,684)
Foreign exchange gain (loss) | ​ | 2,631 | ​ | ​ | (99,338)
Interest and other income(1) | ​ | 19,130 | ​ | ​ | 19,356
Loss before tax | $ | (98,979) | ​ | $ | (121,141)
Current and deferred taxes | ​ | — | ​ | ​ | —
Net loss | $ | (98,979) | ​ | $ | (121,141)
Portion attributable to McEwen Mining Inc. | ​ | ​ | ​ | ​ | ​
Loss from investment in McEwen Copper | $ | (46,977) | ​ | $ | (57,821)
​
| (1) | Interest and other income include gains on marketable securities and other finance-related income.
Schedule of change in the company's investment | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2024 | ​ | 2023
Investment, beginning of year | $ | 326,147 | ​ | $ | —
Additional investment in McEwen Copper | ​ | 14,000 | ​ | ​ | —
Dilution gain | ​ | 5,777 | ​ | ​ | —
Deconsolidation of McEwen Copper | ​ | — | ​ | ​ | 383,968
Attributable net loss from McEwen Copper | ​ | (46,977) | ​ | ​ | (57,821)
Investment, end of year | $ | 298,947 | ​ | $ | 326,147
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​
As at | ​ | December 31, 2024 | ​ | December 31, 2023
Current assets | ​ | $ | 34,067 | ​ | $ | 104,195
Total assets | ​ | $ | 226,329 | ​ | $ | 281,353
​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (14,656) | ​ | $ | (23,988)
Total liabilities | ​ | $ | (14,856) | ​ | $ | (24,287)
Minera Santa Cruz S.A. |
EQUITY METHOD INVESTMENTS |
Summary of financial information from operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2024 | ​ | 2023 | ​ | ​ | 2022
Minera Santa Cruz S.A. (100%) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue from gold and silver sales | $ | 310,411 | ​ | $ | 254,926 | ​ | $ | 254,698
Production costs applicable to sales | ​ | (215,065) | ​ | ​ | (177,234) | ​ | ​ | (182,195)
Depreciation and depletion | ​ | (51,188) | ​ | ​ | (58,935) | ​ | ​ | (32,200)
Gross profit | ​ | 44,158 | ​ | ​ | 18,757 | ​ | ​ | 40,303
Exploration | ​ | (11,257) | ​ | ​ | (9,346) | ​ | ​ | (8,946)
Other expense(1) | ​ | (1,717) | ​ | ​ | (3,977) | ​ | ​ | (19,715)
Net income before tax | $ | 31,184 | ​ | $ | 5,434 | ​ | $ | 11,642
Current and deferred tax (expense) recovery | ​ | (6,548) | ​ | ​ | 3,051 | ​ | ​ | 1,221
Net income | $ | 24,636 | ​ | $ | 8,485 | ​ | $ | 12,863
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Portion attributable to McEwen Mining Inc. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | $ | 12,072 | ​ | $ | 4,157 | ​ | $ | 6,303
Amortization of fair value increments |  | (3,088) | ​ |  | (4,612) | ​ |  | (4,155)
Income tax recovery | ​ | 37 | ​ | ​ | 517 | ​ | ​ | 628
Income from investment in MSC, net of amortization | $ | 9,021 | ​ | $ | 62 | ​ | $ | 2,776
​
| (1) | Other expenses include foreign exchange, accretion of asset retirement obligations and other finance-related expenses.
Schedule of change in the company's investment | ​
​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2024 |  | 2023
Investment, beginning of year | $ | 93,218 | ​ | $ | 93,451
Attributable net income from MSC | ​ | 12,072 | ​ | ​ | 4,157
Amortization of fair value increments |  | (3,088) | ​ |  | (4,612)
Income tax recovery | ​ | 37 | ​ | ​ | 517
Dividend distribution received |  | (385) | ​ |  | (295)
Investment, end of year | $ | 101,854 | ​ | $ | 93,218
Summary of key assets and liabilities, before and after adjustments to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
As at | ​ | December 31, 2024 | ​ | December 31, 2023
Current assets | ​ | $ | 144,327 | ​ | $ | 101,572
Total assets | ​ | $ | 233,003 | ​ | $ | 196,617
​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ | $ | (57,373) | ​ | $ | (44,785)
Total liabilities | ​ | $ | (89,594) | ​ | $ | (77,742)

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