COEUR MINING, INC., 10-K/A filed on 5/6/2025
Amended Annual Report
v3.25.1
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 17, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Document Transition Report false    
Entity File Number 1-8641    
Entity Registrant Name COEUR MINING, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 82-0109423    
Entity Address, Address Line One 200 South Wacker Drive    
Entity Address, Address Line Two Suite 2100    
Entity Address, City or Town Chicago    
Entity Address, State or Province IL    
Entity Address, Postal Zip Code 60606    
City Area Code 312    
Local Phone Number 489-5800    
Title of 12(b) Security Common Stock (par value $.01 per share)    
Trading Symbol CDE    
Security Exchange Name NYSE    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 2,209,241,490
Entity Common Stock, Shares Outstanding   638,557,875  
Entity Central Index Key 0000215466    
Amendment Flag true    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Amendment Description This Amendment No. 1 on Form 10-K/A (the “Amendment”) amends Coeur Mining, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “Form 10-K”), as filed with the Securities and Exchange Commission on February 19, 2025, and is being filed solely to amend the report prepared by Grant Thornton LLP contained in Item 8 of the Form 10-K (the “Financial Statement Audit Report”) to correct a clerical error. The Financial Statement Audit Report did not include reference to their report on the Company’s internal controls over financial reporting. Pursuant to Rule 12b-15 promulgated under the Securities Exchange Act of 1934, as amended, we have repeated the entire text of Item 8 of the Form 10-K in this Amendment. However, there have been no changes to the text of such item other than the change stated in the immediately preceding sentence. This Amendment includes the updated Financial Statement Audit Report, new consent of Grant Thornton LLP as Exhibit 23.1 hereto, and new certifications by our Principal Executive Officer and Principal Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 as Exhibits 31.1, 31.2, 32.1 and 32.2 hereto. Except as expressly set forth above, this Amendment does not, and does not purport to, amend, update or restate the information in any other item of the Form 10-K or reflect any events that have occurred after the filing of the original Form 10-K.    
v3.25.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Name Grant Thornton LLP
Auditor Location Chicago, Illinois
Auditor Firm ID 248
v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 55,087 $ 61,633
Receivables 29,930 31,035
Inventory 78,617 76,661
Ore on leach pads 92,724 79,400
Prepaid expenses and other 16,741 18,526
Current assets 273,099 267,255
NON-CURRENT ASSETS    
Property, plant and equipment and mining properties, net 1,817,616 1,688,288
Ore on leach pads, noncurrent 106,670 25,987
Restricted assets 8,512 9,115
Receivables, Net, Current 19,583 23,140
Other assets 76,267 67,063
TOTAL ASSETS 2,301,747 2,080,848
CURRENT LIABILITIES    
Accounts payable 125,877 115,110
Accrued liabilities and other 156,609 140,913
Debt 31,380 22,636
Reclamation 16,954 10,954
Current liabilities 330,820 289,613
NON-CURRENT LIABILITIES    
Debt 558,678 522,674
Reclamation 243,538 203,059
Deferred tax liabilities 7,258 12,360
Other long-term liabilities 38,201 29,239
Non-current liabilities $ 847,675 $ 767,332
Common Stock, Shares, Outstanding 399,235,632 386,282,957
STOCKHOLDERS' EQUITY    
Common stock, par value $0.01 per share; authorized 600,000,000 shares, 399,235,632 issued and outstanding at December 31, 2024 and 386,282,957 at December 31, 2023 $ 3,992 $ 3,863
Additional paid-in capital 4,181,521 4,139,870
Accumulated other comprehensive income (loss) 0 1,331
Accumulated deficit (3,062,261) (3,121,161)
Stockholders' equity 1,123,252 1,023,903
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,301,747 $ 2,080,848
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000 600,000,000
Common stock, shares issued (in shares) 399,235,632 386,282,957
v3.25.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2024
Feb. 26, 2024
Dec. 31, 2023
STOCKHOLDERS' EQUITY      
Common stock, par value $ 0.01 $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000   600,000,000
Common stock, shares issued (in shares) 399,235,632 7,704,725 386,282,957
v3.25.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue $ 1,054,006 $ 821,206 $ 785,636
COSTS AND EXPENSES      
Amortization 124,974 99,822 111,626
General and administrative 47,727 41,605 39,460
Pre-development, reclamation, and other 51,273 54,636 40,647
Total costs and expenses 889,824 859,921 824,887
Income (loss) from operations 164,182 (38,715) (39,251)
OTHER INCOME (EXPENSE), NET      
Fair value adjustments, net, pretax 0 3,384 (66,668)
Interest expense, net of capitalized interest (51,276) (29,099) (23,861)
Other, net 13,027 [1] (7,463) 66,331
Total other income (expense), net (37,832) (29,741) (24,198)
Income (loss) before income and mining taxes 126,350 (68,456) (63,449)
Income and mining tax (expense) benefit (67,450) (35,156) (14,658)
NET INCOME (LOSS) 58,900 (103,612) (78,107)
OTHER COMPREHENSIVE INCOME (LOSS), Net of Tax:      
Unrealized gain (loss) on hedger, net of tax (18,507) (318) 37,445
Reclassification adjustments for realized (gain) loss on cash flow hedges (17,176) 10,694 23,890
Other comprehensive income (loss) (1,331) (11,012) 13,555
COMPREHENSIVE INCOME (LOSS) $ 57,569 $ (114,624) $ (64,552)
Basic EPS      
Earnings Per Share, Basic $ 0.15 $ (0.30) $ (0.28)
Diluted EPS      
Earnings Per Share, Diluted $ 0.15 $ (0.30) $ (0.28)
Gain on debt extinguishment $ 417 $ 3,437 $ 0
Accumulated Deficit [Member]      
OTHER INCOME (EXPENSE), NET      
NET INCOME (LOSS) 58,900 (103,612) (78,107)
Product      
COSTS AND EXPENSES      
Costs applicable to sales 606,192 [2] 632,896 [2] 606,530
Mineral, Exploration      
COSTS AND EXPENSES      
Costs applicable to sales $ 59,658 $ 30,962 $ 26,624
[1] See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
[2] Excludes amortization.
v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 58,900 $ (103,612) $ (78,107)
Adjustments:      
Amortization 124,974 99,822 111,626
Accretion 18,208 16,381 14,850
Deferred income taxes (8,734) (1,495) (18,450)
Gain on debt extinguishment (417) (3,437) 0
Fair value adjustments, net 0 (3,384) 63,529
Stock-based compensation 12,022 11,361 10,030
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax 0 0 (62,249)
Loss on the sale or disposition of assets 4,250 25,197 0
Inventory Write-down 3,235 40,247 45,978
Revenue Recognized (55,562) (25,468) (15,887)
Foreign exchange and other 5,483 3,215 542
Changes in operating assets and liabilities:      
Receivables (504) 933 4,452
Prepaid expenses and other current assets 2,777 (461) 240
Inventories (69,640) (47,592) (51,448)
Accounts payable and accrued liabilities 79,242 55,581 510
Cash provided by (used in) operating activities 174,234 67,288 25,616
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (183,188) (364,617) (352,354)
Acquisitions, net (10,000) 0 0
Proceeds from the sale of assets 37 8,546 165,829
Sale of investments 0 47,611 40,469
Proceeds from Collection of Notes Receivable 0 5,000 0
Other (362) (239) (107)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (193,513) (303,699) (146,163)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Issuance of Common Stock 22,823 168,964 147,408
Issuance of notes and bank borrowings, net of issuance costs 391,500 598,000 320,000
Payments on long-term debt, capital leases, and associated costs (398,348) (528,541) (338,721)
Other (2,085) (2,370) (3,661)
CASH PROVIDED (USED IN) BY FINANCING ACTIVITIES 13,890 236,053 125,026
Effect of exchange rate changes on cash and cash equivalents (1,115) 567 401
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (6,504) 209 4,880
Cash, cash equivalents and restricted cash at beginning of period 63,378 63,169 58,289
Cash, cash equivalents and restricted cash at end of period $ 56,874 $ 63,378 $ 63,169
v3.25.1
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Private Placement
At The Market Offering
Royalty Settlement [Domain]
Common Stock
Common Stock
Private Placement
Common Stock
At The Market Offering
Common Stock
Royalty Settlement [Domain]
Additional Paid-In Capital
Additional Paid-In Capital
Private Placement
Additional Paid-In Capital
At The Market Offering
Additional Paid-In Capital
Royalty Settlement [Domain]
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Balances, in shares at Dec. 31, 2021         256,919                  
Balances at Dec. 31, 2021 $ 800,262       $ 2,569       $ 3,738,347       $ (2,939,442) $ (1,212)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (78,107)                       (78,107)  
Other comprehensive income (loss) 13,555                         13,555
Common stock issued (in shares)             36,820              
Common stock issued     $ 146,915       $ 368       $ 146,547      
Common stock issued under stock-based compensation plans, net (in shares)         1,959                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 6,391       $ 20       6,371          
Balances, in shares at Dec. 31, 2022         295,698                  
Balances at Dec. 31, 2022 889,016       $ 2,957       3,891,265       (3,017,549) 12,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) (103,612)                       (103,612)  
Other comprehensive income (loss) (11,012)                         (11,012)
Common stock issued (in shares)           8,276 54,562              
Common stock issued   $ 21,018 $ 147,566     $ 83 $ 546     $ 20,935 $ 147,020      
Common stock issued for the extinguishment of Senior Notes (in shares)         25,191                  
Common stock issued for the extinguishment of Senior Notes 72,252       $ 253       71,999          
Common stock issued under stock-based compensation plans, net (in shares)         2,556                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 8,675       $ 24       8,651          
Balances, in shares at Dec. 31, 2023         386,283                  
Balances at Dec. 31, 2023 1,023,903       $ 3,863       4,139,870       (3,121,161) 1,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income (loss) 58,900                       58,900  
Other comprehensive income (loss) (1,331)                         (1,331)
Common stock issued (in shares)           7,705   738            
Common stock issued   $ 23,069   $ 3,406   $ 77   $ 7   $ 22,992   $ 3,399    
Common stock issued for the extinguishment of Senior Notes (in shares)         1,772                  
Common stock issued for the extinguishment of Senior Notes 5,368       $ 18       5,350          
Common stock issued under stock-based compensation plans, net (in shares)         2,738                  
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 9,937       $ 27       9,910          
Balances, in shares at Dec. 31, 2024         399,236                  
Balances at Dec. 31, 2024 $ 1,123,252       $ 3,992       $ 4,181,521       $ (3,062,261) $ 0
v3.25.1
Basis of Presentation
 12 Months Ended
Dec. 31, 2024
Basis of Presentation [Abstract]  
Basis of Accounting
Coeur Mining, Inc. (“Coeur” or the “Company”) is primarily a gold and silver producer with assets in the United States, Mexico and Canada. Coeur was incorporated as an Idaho corporation in 1928 under the name Coeur d’Alene Mines Corporation and on May 16, 2013, changed its state of incorporation from the State of Idaho to the State of Delaware and changed its name to Coeur Mining, Inc. Coeur’s corporate headquarters are in Chicago, Illinois.
v3.25.1
Summary Of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment and mining properties, net, inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events could result in material impairment charges related to these assets.
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables
Trade receivables and other receivable balances are recognized net of an allowance for credit losses. The allowance represents the portion of the amortized cost basis that the Company does not expect to collect due to credit over the contractual life of the receivables, taking into consideration past events, current conditions and reasonable and supportable forecasts of future economic conditions. As of December 31, 2024, the amount of credit loss recognized is not significant.
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue and are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold electrolytic cathodic sludge at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. In the first quarter of 2024, the Company completed a review of the estimated recoverable ounces of gold and silver on its leach pads and determined that as a result of longer expected leach time and favorable recoveries relative to previous estimates, that the estimated recoverable gold and silver on the Rochester legacy leach pads (Stages 2, 3 and 4) supported an upward revision. An additional 6,000 ounces of gold and 900,000 ounces of silver were added to the legacy leach pads in the first quarter of 2024. There are five reusable heap leach pads (load/offload) used at Wharf. Each pad goes through an approximate 24-month process of loading of ore, leaching and offloading which includes a neutralization and denitrification process. During the leaching cycle of each pad, revised estimated recoverable ounces for each of the pads may result in an upward or downward revision from time to time, which generally have not been significant. The updated recoverable ounce estimate is considered a change in estimate and was accounted for prospectively. As of December 31, 2024, the Company’s combined estimated recoverable ounces of gold and silver on the leach pads were 49,575 and 6.9 million, respectively.
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant, and Equipment and Mining Properties, Net
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and
other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $16.8 million and $10.0 million in the years ended December 31, 2024 and 2023, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors that may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2024 and 2023, the Company held certificates of deposit and cash under these agreements of $8.5 million and $9.1 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 7 -- Leases for additional information related to the Company’s operating and finance leases.
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 9 -- Reclamation for additional information.
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated
with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 13 -- Derivative Financial Instruments and Hedging Activities for additional information.
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model using market comparison. Stock options granted are accounted for as equity-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock-based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company’s stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company’s performance, and related tax impacts. See Note 11 -- Stock-Based Compensation for additional information.
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months after the shipment date, based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
Recently Adopted Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company adopted the new derivatives and hedging standards effective January 1, 2023, which did not have a material effect on our financial position, results of operations or cash flows.
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We have adopted the new standard effective December 31, 2024 retrospectively for all periods presented. See Note 3 -- Segment Reporting for all periods presented with the new required disclosures. The new standard did not impact our Consolidated Financial Statements.
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Although early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance, the Company believes that there is no material impact to the reader in early adoption. The Company plans to adopt this new guidance on our Consolidated Financial Statements and related disclosures on reporting year ending December 31, 2025.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures, which includes amendments to require the disclosure of certain specific costs and expenses that are included in a relevant expense caption on the face of the income statement. Specific costs and expenses that would be required to be disclosed include: purchases of inventory, employee compensation, depreciation and intangible asset amortization. Additionally, a qualitative description of other items is required, equal to the difference between the relevant expense caption and the separately disclosed specific costs. The amendments in ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, and are applied either prospectively or retrospectively at the option of the Company. We are evaluating the impact of the amendments on our Consolidated Financial Statements and related disclosures.
v3.25.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments at December 31, 2024 included the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration project. Following consummation of the acquisition of SilverCrest Metals, Inc. on February 14, 2025, the Company will add the Las Chispas operating segment. Except for the Silvertip exploration project, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration project is engaged in the discovery of silver, zinc, lead, and other related metals. “Other” includes certain mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts.
The Company’s Chief Operating Decision Maker (“CODM”), comprised of Mitchell J. Krebs, Chairman, President and Chief Executive Officer, Thomas S. Whelan, Chief Financial Officer, and Michael Routledge, Chief Operating Officer, evaluates performance and allocates resources for all of the Company’s reportable segments based on Income (loss) from operations. The CODM uses segment Income (loss) from operations to allocate resources such as corporate employees, and financial or capital resources for each segment during the annual budget and forecasting processes. The CODM considers budget-to-actual variances on a monthly basis using the segment Income (loss) from operations measure when making decisions about allocating capital and personnel to the segments. The accounting policies of the reportable segments are the same as those described in Note 2 -- Summary of Significant Accounting Policies.
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$190,520 $91,541 $225,200 $227,600 $— $— $734,861 
Silver sales188,540 124,271 (71)6,405 — — 319,145 
Metal sales379,060 215,812 225,129 234,005 — — 1,054,006 
Costs and Expenses
Costs applicable to sales(1)
195,458 154,611 157,757 98,366 — — 606,192 
Amortization44,979 41,293 28,201 6,487 3,235 779 124,974 
Exploration13,230 5,070 5,494 6,192 27,332 2,340 59,658 
Other operating expenses(2)
8,665 12,963 9,753 4,519 9,923 53,177 99,000 
Costs and expenses262,332 213,937 201,205 115,564 40,490 56,296 889,824 
Income (loss) from operations116,728 1,875 23,924 118,441 (40,490)(56,296)164,182 
Other income (expense)
Gain on debt extinguishment— — — — — 417 417 
Fair value adjustments, net— — — — — — — 
Interest expense, net324 (5,081)(1,681)(544)(11)(44,283)(51,276)
Other, net(3)
7,074 (363)(312)(509)(43)7,180 13,027 
Income (loss) before income and mining taxes124,126 (3,569)21,931 117,388 (40,544)(92,982)126,350 
Income and mining tax (expense) benefit(45,765)(1,778)(576)(10,679)— (8,652)(67,450)
Net Income (loss) $78,361 $(5,347)$21,355 $106,709 $(40,544)$(101,634)$58,900 
Segment assets(4)
$316,232 $1,227,745 $223,525 $119,407 $219,613 $55,359 $2,161,881 
Capital expenditures$30,621 $72,676 $68,656 $7,175 $3,597 $463 $183,188 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Year Ended December 31, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$155,036 $75,571 $162,010 $183,060 $— $— $575,677 
Silver sales158,171 80,451 468 6,439 — — 245,529 
Metal sales313,207 156,022 162,478 189,499 — — 821,206 
Costs and Expenses
Costs applicable to sales(1)
194,309 171,271 152,659 114,657 — — 632,896 
Amortization35,709 26,392 25,905 6,694 4,018 1,104 99,822 
Exploration7,840 1,221 7,900 — 12,251 1,750 30,962 
Other operating expenses(2)
8,064 26,005 3,440 4,157 17,104 37,471 96,241 
Costs and expenses245,922 224,889 189,904 125,508 33,373 40,325 859,921 
Income (loss) from operations67,285 (68,867)(27,426)63,991 (33,373)(40,325)(38,715)
Other income (expense)
Gain on debt extinguishment— — — — — 3,437 3,437 
Fair value adjustments, net— — — — — 3,384 3,384 
Interest expense, net844 (1,603)(1,744)(329)(63)(26,204)(29,099)
Other, net(3)
4,590 (293)(311)(396)(129)(10,924)(7,463)
Income (loss) before income and mining taxes72,719 (70,763)(29,481)63,266 (33,565)(70,632)(68,456)
Income and mining tax (expense) benefit(26,016)(816)— (7,047)— (1,277)(35,156)
Net Income (loss)$46,703 $(71,579)$(29,481)$56,219 $(33,565)$(71,909)$(103,612)
Segment assets(4)
$312,879 $1,081,442 $171,602 $102,245 $215,545 $59,324 $1,943,037 
Capital expenditures$41,766 $263,401 $53,316 $2,472 $2,867 $795 $364,617 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses(2)
4,372 7,540 1,685 1,379 22,322 42,809 80,107 
Costs and expenses228,985 199,959 203,079 112,689 31,862 48,313 824,887 
Income (loss) from operations74,449 (70,296)(586)37,357 (31,862)(48,313)(39,251)
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (306)(206)(62)(354)64,055 66,331 
Income (loss) before income and mining taxes77,641 (71,412)(2,238)37,229 (32,392)(72,277)(63,449)
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(4)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Assets December 31, 2024December 31, 2023
Total assets for reportable segments$2,161,881 $1,943,037 
Cash and cash equivalents55,087 61,633 
Other assets84,779 76,178 
Total consolidated assets$2,301,747 $2,080,848 
Geographic Information
Long-Lived Assets December 31, 2024December 31, 2023
United States$1,312,976 $1,201,988 
Mexico267,144 256,906 
Canada237,263 229,242 
Other233 152 
Total$1,817,616 $1,688,288 
RevenueYear ended December 31,
202420232022
United States$674,946 $507,999 $482,202 
Mexico379,060 313,207 303,434 
Total$1,054,006 $821,206 $785,636 
The Company’s doré, as well as the electrolytic cathodic sludge produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the London Bullion Market Association, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its gold and silver bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company had seven trading counterparties at December 31, 2024. The Company's sales of doré and electrolytic cathodic sludge product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 79%, 80%, and 74%, of total metal sales for the years ended December 31, 2024, 2023, and 2022, respectively.
The Company’s gold concentrate product from the Kensington mine is sold under a long-term offtake agreement and is shipped to geographically diverse third-party smelters who are responsible for arranging the smelting of the concentrate. The Company’s sales of concentrate produced by the Kensington amounted to approximately 21%, 20%, and 26% of total metal sales for the years ended December 31, 2024, 2023, and 2022, respectively.
The Company believes that the loss of any one smelter, refiner, trader or third-party customer would not have a material adverse effect on the Company due to the liquidity of the markets and current availability of alternative trading counterparties.
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years ended December 31, 2024, 2023, and 2022 (in millions):
Year ended December 31,
Customer2024202302022Segments reporting revenue
Bank of Montreal$445.6 $367.2 $341.5 Palmarejo, Rochester, Wharf
Ocean Partners$484.5 $346.2 $168.9 Palmarejo, Rochester, Kensington, Wharf
Asahi$104.9 $63.7 $125.3 Palmarejo, Rochester, Kensington, Wharf
v3.25.1
Receivables
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
RECEIVABLES RECEIVABLES
    Receivables consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Current receivables:
Trade receivables$7,818 $3,858 
VAT receivable12,684 15,634 
Income tax receivable8,509 10,207 
Gold and silver forwards realized gains (1)
— 615 
Other919 721 
$29,930 $31,035 
Non-current receivables:
Other tax receivable (2)
$5,554 $9,111 
Deferred cash consideration (3)
834 834 
Contingent consideration (4)
13,195 13,195 
$19,583 $23,140 
Total receivables$49,513 $54,175 
(1) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 13 -- Derivative Financial Instruments & Hedging Activities for additional details on the gold and silver forward hedges.
(2) Consists of exploration credit refunds at Silvertip.
(3) Represents the fair value of the contingent consideration related to the sale of La Preciosa Deferred Consideration, which included the right to an additional payment of $1.0 million on the first anniversary of initial production from any portion of the La Preciosa project. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
(4) Represents the fair value of the contingent consideration associated with the sale of Sterling/Crown exploration properties, which included the right to an additional payment of $50.0 million should the buyer, its affiliates or its successors, report gold resources in the Sterling/Crown exploration properties. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
v3.25.1
Inventory and Ore on Leach Pads
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORY AND ORE ON LEACH PADS INVENTORY AND ORE ON LEACH PADS
    Inventory consists of the following:
In thousandsDecember 31, 2024December 31, 2023
Inventory:
Concentrate$5,795 $3,606 
Precious metals19,675 20,395 
Supplies53,147 52,660 
$78,617 $76,661 
Ore on Leach Pads:
Current$92,724 $79,400 
Non-current106,670 25,987 
$199,394 $105,387 
Long-term Stockpile (included in Other)
$41,718 $46,702 
Total Inventory and Ore on Leach Pads$319,729 $228,750 
    
Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2024, the cost associated with the stockpile at Rochester exceeded its net realizable value, which resulted in non-cash write down of $4.0 million ($3.2 million was recognized in Costs applicable to sales and $0.8 million in Amortization).
v3.25.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT AND MINING PROPERTIES, NET
Property, plant and equipment and mining properties, net consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Mine development$1,502,457 $1,358,189 
Mineral interests833,564 809,912 
Land9,000 8,318 
Facilities and equipment(1)
1,517,170 947,435 
Construction in progress(2)
145,732 612,865 
Total$4,007,923 $3,736,719 
Accumulated depreciation, depletion and amortization(3)
(2,190,307)(2,048,431)
Property, plant and equipment and mining properties, net$1,817,616 $1,688,288 
(1) Includes $170.1 million and $127.6 million associated with facilities and equipment assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
(2) Includes $471.7 million of construction costs related to the Rochester expansion project at December 31, 2023.
(3) Includes $63.3 million and $37.6 million of accumulated amortization related to assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
On July 8, 2024, the Company closed on the purchase of mining concessions adjacent to the Palmarejo mine from a subsidiary of Fresnillo plc. Total consideration under the purchase agreement consisted of a cash payment of approximately $25 million, with $10 million paid at closing, an additional $10 million payable twelve months after closing (“Deferred Cash Due 2025”), and an additional $5 million payable 24 months after closing (“Deferred Cash Due 2026”). The concessions are also subject to an inflation-adjusted royalty payment of $25 per ounce for each new gold-equivalent ounce of resource discovered between 450,000 and two million gold equivalent ounces. This resulted in a $23.7 million increase to Mineral interest and the recognition of $9.3 million of Accrued liabilities and other and $4.4 million of Other long-term liabilities for amounts due after closing.
Commissioning of Rochester’s new three-stage crushing circuit and truck load-out facility was completed on March 7, 2024, leading to declaration of commercial production and $528 million of construction in process placed into service in the first quarter of 2024.
v3.25.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202420232022
Lease Cost
Operating lease cost$12,924 $12,536 $11,939 
Short-term operating lease cost$13,784 $12,223 $10,573 
Finance lease cost:
Amortization of leased assets$34,424 $27,985 $21,571 
Interest on lease liabilities4,844 3,762 5,084 
Total finance lease cost$39,268 $31,747 $26,655 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202420232022
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$26,709 $24,759 $22,511 
Operating cash flows from finance leases$4,844 $3,762 $5,084 
Financing cash flows from finance leases$24,524 $24,505 $31,316 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2024December 31, 2023
Operating Leases
Other assets, non-current$23,913 $14,064 
Accrued liabilities and other11,598 9,975 
Other long-term liabilities14,797 6,340 
Total operating lease liabilities$26,395 $16,315 
Finance Leases
Property and equipment, gross$170,144 $127,591 
Accumulated depreciation(63,278)(37,612)
Property and equipment, net$106,866 $89,979 
Debt, current$31,380 $22,636 
Debt, non-current73,620 52,558 
Total finance lease liabilities$105,000 $75,194 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.122.03
Weighted-average remaining lease term - operating leases3.975.19
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.6 %6.1 %
Weighted-average discount rate - operating leases6.2 %5.3 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2024 (In thousands)
Operating leases Finance leases
2025$11,841 $37,227 
202610,196 28,132 
20271,261 21,225 
2028954 23,040 
2029952 10,684 
Thereafter4,625 — 
Total$29,829 $120,308 
Less: imputed interest(3,434)(15,308)
Net lease obligation$26,395 $105,000 
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202420232022
Lease Cost
Operating lease cost$12,924 $12,536 $11,939 
Short-term operating lease cost$13,784 $12,223 $10,573 
Finance lease cost:
Amortization of leased assets$34,424 $27,985 $21,571 
Interest on lease liabilities4,844 3,762 5,084 
Total finance lease cost$39,268 $31,747 $26,655 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202420232022
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$26,709 $24,759 $22,511 
Operating cash flows from finance leases$4,844 $3,762 $5,084 
Financing cash flows from finance leases$24,524 $24,505 $31,316 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2024December 31, 2023
Operating Leases
Other assets, non-current$23,913 $14,064 
Accrued liabilities and other11,598 9,975 
Other long-term liabilities14,797 6,340 
Total operating lease liabilities$26,395 $16,315 
Finance Leases
Property and equipment, gross$170,144 $127,591 
Accumulated depreciation(63,278)(37,612)
Property and equipment, net$106,866 $89,979 
Debt, current$31,380 $22,636 
Debt, non-current73,620 52,558 
Total finance lease liabilities$105,000 $75,194 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.122.03
Weighted-average remaining lease term - operating leases3.975.19
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.6 %6.1 %
Weighted-average discount rate - operating leases6.2 %5.3 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2024 (In thousands)
Operating leases Finance leases
2025$11,841 $37,227 
202610,196 28,132 
20271,261 21,225 
2028954 23,040 
2029952 10,684 
Thereafter4,625 — 
Total$29,829 $120,308 
Less: imputed interest(3,434)(15,308)
Net lease obligation$26,395 $105,000 
v3.25.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
 December 31, 2024December 31, 2023
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $290,058 $— $295,115 
Revolving Credit Facility(2)
— 195,000 — 175,000 
Finance lease obligations31,380 73,620 22,636 52,559 
$31,380 $558,678 $22,636 $522,674 
(1) Net of unamortized debt issuance costs of $3.1 million and $3.9 million at December 31, 2024 and December 31, 2023, respectively.
(2) Unamortized debt issuance costs of $3.4 million and $2.8 million at December 31, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets.
2029 Senior Notes
In March 2021, the Company completed an offering of $375.0 million in aggregate principal amount of senior notes in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for net proceeds of approximately $367.5 million (the “2029 Senior Notes”). The 2029 Senior Notes are governed by an Indenture dated as of March 1, 2021 (the “Indenture”), among the Company, as issuer, certain of the Company's subsidiaries named therein, as guarantors thereto (the “Guarantors”), and The Bank of New York Mellon, as trustee (the “Trustee”). The 2029 Senior Notes bear interest at a rate of 5.125% per year from the date of issuance. Interest on the 2029 Senior Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021. The 2029 Senior Notes will mature on February 15, 2029 and are fully and unconditionally guaranteed by the Guarantors. As of February 15, 2024, the Company may redeem some or all of the 2029 Senior Notes at redemption prices set forth in the Indenture, together with accrued and unpaid interest.
The Indenture contains covenants that, among other things, limit the Company’s ability under certain circumstances to incur additional indebtedness, pay dividends or make other distributions or repurchase or redeem capital stock, prepay, redeem or repurchase certain debt, make loans and investments, create liens, sell, transfer or otherwise dispose of assets, enter into transactions with affiliates, enter into agreements restricting the Company's subsidiaries' ability to pay dividends and impose conditions on the Company’s ability to engage in mergers, consolidations and sales of all or substantially all of its assets. The Indenture also contains certain “Events of Default” (as defined in the Indenture) customary for indentures of this type. If an Event of Default has occurred and is continuing, the Trustee or the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding may, and the Trustee at the request of the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding shall, declare all unpaid principal of, premium, if any, and accrued interest on all the 2029 Senior Notes to be due and payable.
During the year ended December 31, 2024, the Company exchanged $5.9 million in aggregate principal amount of 2029 Senior Notes plus accrued interest for 1.8 million shares of its common stock. Based on the closing price of the Company’s common stock on the dates of the exchange, the exchanges resulted in a gain of $0.4 million on debt extinguishment.
Revolving Credit Facility
In September 2017, the Company entered into a senior secured revolving credit facility (“RCF”) pursuant to a credit agreement, dated as of September 29, 2017 (as subsequently amended, the “Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent and Bank of America, N.A., Royal Bank of Canada, Bank of Montreal, Chicago Branch, the Bank of Nova Scotia and ING Capital LLC, as lenders with an original term of four years. Loans under the RCF bear interest at a rate equal to either a base rate plus a margin ranging from 1.00% to 1.75% or an adjusted LIBOR rate plus a margin ranging from 2.00% to 2.75%, as selected by the Company, in each case, with such margin determined in accordance with a pricing grid based upon the Company’s consolidated net leverage ratio as of the end of the applicable period. The RCF was subsequently amended in 2018, 2019, 2021, 2022, 2023 and 2024, including amendments to extend the term of the RCF, increase its capacity, add and remove lenders, modify restrictive covenants, and address other matters.
On February 21, 2024, the Company entered into an agreement to extend and enhance the RCF (the “February 2024 Amendment”). The February 2024 Amendment, among other things, (1) extends the term of the RCF by approximately two years so that it now matures in February 2027, (2) increases the RCF to $400 million, (3) adds Fédération Des Caisses Desjardins Du Québec and National Bank of Canada as lenders on the RCF, (4) permits the Company to obtain one or more increases of the RCF in an aggregate amount of up to $100 million in incremental loans and commitments, subject to certain conditions, including obtaining commitments from relevant lenders to provide such increase, (5) allows for unencumbered domestic cash to be included in the calculation of the consolidated net leverage ratio, and (6) allows up to $15 million of non-capitalized underground mine development costs related to Silvertip to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF.
The RCF is secured by substantially all of the assets of the Company and its U.S. subsidiaries, including the land, mineral rights and infrastructure at the Kensington, Rochester and Wharf mines as well as a pledge of the shares and other equity interests of certain of the Company’s subsidiaries. The Credit Agreement contains representations and warranties and affirmative and negative covenants that are usual and customary, including representations, warranties, and covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional debt, incur or permit liens on assets, make investments and acquisitions, consolidate or merge with any other company, engage in asset sales and make dividends and distributions. The Credit Agreement requires the Company to meet certain financial covenants, including a senior secured leverage ratio, a consolidated net leverage ratio and a consolidated interest coverage ratio. Obligations under the RCF may be accelerated upon the occurrence of certain customary events of default.
At December 31, 2024, the Company had $195.0 million drawn at a weighted-average interest rate of 6.7%, $29.3 million in outstanding letters of credit and $175.7 million available under the RCF. Future borrowing may be subject to certain financial covenants.
Finance Lease Obligations
From time to time, the Company acquires mining equipment and facilities under finance lease agreements. In the year ended December 31, 2024, the Company entered into multiple new lease financing arrangements for mining equipment, primarily at Rochester for $54.3 million at a weighted average interest rate of 7.0%. Coeur secured a finance lease package for nearly $60.0 million in 2021, all of which has been funded as of December 31, 2024. This package was earmarked for planned equipment for the Rochester expansion project in 2022, 2023 and 2024 and has an interest rate of 5.2%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. For more details, please see Note 7 -- Leases for additional qualitative and quantitative disclosures related to finance leasing arrangements.
Interest Expense
 Year Ended December 31,
In thousands202420232022
2029 Senior Notes$15,086 $17,288 19,219 
Revolving Credit Facility26,749 17,752 8,503 
Finance lease obligations4,844 3,762 5,084 
Amortization of debt issuance costs2,360 2,709 2,052 
Other obligations3,293 2,149 166 
Capitalized interest(1,056)(14,561)(11,163)
Total interest expense, net of capitalized interest$51,276 $29,099 $23,861 
v3.25.1
Reclamation
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
RECLAMATION RECLAMATION
Reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties. On an ongoing basis, management evaluates its estimates and assumptions, and future expenditures could differ from current estimates. The estimated reclamation and mine closure costs were discounted using credit-adjusted, risk-free interest rates ranging from 6.7% to 9.6%. The asset retirement obligation increased in 2024 due to increased reclamation and mine closure costs associated with the continued build-out of the new leach pad at Rochester and the extended duration of water treatment as a result of new permitting requirements at Silvertip.
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Year Ended December 31,
In thousands20242023
Asset retirement obligation - Beginning$214,013 $202,431 
Accretion16,778 16,405 
Additions and changes to estimates35,455 991 
Settlements(5,754)(5,814)
Asset retirement obligation - Ending$260,492 $214,013 
v3.25.1
Income and Mining Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202420232022
United States$50,194 $(107,021)$(107,477)
Foreign76,156 38,565 44,028 
Total$126,350 $(68,456)$(63,449)
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202420232022
Current:   
United States$(145)$981 $(21)
United States — State mining taxes(11,256)(7,047)(2,936)
United States — Foreign withholding tax(33)(119)(300)
Canada(1,147)(848)(305)
Mexico(63,604)(30,222)(29,546)
Other— — — 
Deferred:
United States149 305 215 
United States — State mining taxes(1,778)(1,076)5,558 
Canada(376)— 254 
Mexico10,740 2,870 12,423 
Other— — — 
Income tax (expense) benefit$(67,450)$(35,156)$(14,658)
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202420232022
Income and mining tax (expense) benefit at statutory rate$(28,465)$14,376 $13,249 
State tax provision from continuing operations(149)4,859 2,871 
Change in valuation allowance727 (36,778)(36,670)
Percentage depletion6,974 5,649 3,538 
Uncertain tax positions2 6 655 
U.S. and foreign permanent differences(7,765)(3,056)365 
Foreign exchange rates2,405 1,179 (145)
Foreign inflation and indexing2,322 3,077 2,897 
Foreign tax rate differences(8,923)(3,911)(4,994)
Foreign withholding and other taxes(8,307)(1,381)169 
Mining taxes(26,901)(16,884)(11,239)
Sale of non-core assets— (1,322)15,447 
Enactment of 1% increase in Mexico special mining duty tax(1,696)— — 
Other, net2,326 (970)(801)
Income and mining tax (expense) benefit$(67,450)$(35,156)$(14,658)
At December 31, 2024 and 2023, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20242023
Deferred tax liabilities:  
Property, plant, and equipment$5,529 $— 
 $5,529 $— 
Deferred tax assets:
Net operating loss carryforwards$304,244 $302,114 
Mineral properties50,824 44,244 
Property, plant, and equipment— 12,068 
Mining royalty tax8,314 7,345 
Capital loss carryforwards16,910 5,167 
Asset retirement obligation49,306 45,155 
Accrued expenses18,117 25,321 
Tax credit carryforwards13,620 14,506 
Other long-term assets30,612 11,566 
 $491,947 $467,486 
Valuation allowance(490,044)(479,846)
 $1,903 $(12,360)
Net deferred tax liabilities$3,626 $12,360 
A valuation allowance is provided for deferred tax assets for which it is more likely than not that the related tax benefits will not be realized. The Company analyzes its deferred tax assets and, if it is determined that the Company will not realize all or a portion of its deferred tax assets, it will record or increase a valuation allowance. Conversely, if it is determined that the Company will ultimately be more likely than not able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced. There are a number of factors that impact the Company’s ability to realize its deferred tax assets. Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20242023
U.S. $268,119 $262,059 
Canada200,319 194,727 
Mexico408 723 
New Zealand21,013 22,229 
Other185 108 
 $490,044 $479,846 
The Company has the following tax attribute carryforwards at December 31, 2024, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$614,873 $457,894 $1,913 $76,041 $814 $1,151,535 
Expiration years2025-2037, Indefinite2028-20442029-2035Indefinite2025-2029
Capital losses53,483 26,363 — — — 79,846 
Foreign tax credits10,864 — — — — 10,864 
As of December 31, 2024, for U.S. income tax purposes, the Company has federal and state net operating loss carryforwards of $614.9 million and $471.4 million, respectively. U.S. net operating loss carryforwards of $313.8 million arising before December 31, 2017 have a 20-year expiration period, the earliest of which could expire in 2025. U.S. net operating loss carryforwards of $301.1 million arising in 2018 and future periods have an indefinite carryforward period. Foreign tax credits expire if unused beginning in 2026.

The utilization of U.S. net operating loss carryforwards, tax credit carryforwards, and recognized built-in losses may be subject to limitation under the rules regarding a change in stock ownership as determined by the Internal Revenue Code and state tax laws. Section 382 of the Internal Revenue Code of 1986, as amended, imposes annual limitations on the utilization of net operating loss carryforwards, tax credit carryforwards, and certain built-in losses upon an ownership change as defined under that Section. Generally, an ownership change may result from transactions that increase the aggregate ownership of certain shareholders in the Company’s stock by more than 50 percentage points over a three-year testing period. If the Company experiences an ownership change, an annual limitation would be imposed on certain of the Company’s tax attributes, including net operating losses and certain other losses, credits, deductions or tax basis. Management has determined that the Company experienced ownership changes during 2002, 2003, 2007, and 2015 for purposes of Section 382. Based on management’s calculations, the Company does not expect any of its U.S. tax attributes to expire unused as a result of the Section 382 annual limitations. However, the annual limitations may impact the timeframe over which the net operating loss carryforwards can be used, potentially impacting cash tax liabilities in a future period. The U.S. federal tax credits and state net operating losses may potentially be limited as well. We continue to maintain a full valuation allowance on our U.S. net deferred tax assets since it is more likely than not that the related tax benefits will not be realized.

The Company may also experience ownership changes in the future as a result of subsequent shifts in our stock ownership. As a result, if the Company earns U.S. federal taxable income, it may be limited in the ability to (1) recognize current deductions on built-in loss assets and (2) offset this income with our pre-change net operating loss carryforwards and other tax credit carryforwards, which may be subject to limitations, potentially resulting in increased future tax liability to us. Under the Tax Cuts and Jobs Act of 2017 (“TCJA”), federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating losses is limited to 80% of future taxable income.

The Company intends to continue repatriating certain earnings from its Mexican operations and has provided deferred income taxes on the planned distributions. Prior to 2023, the Company had asserted that earnings from its Mexican operations were indefinitely reinvested.
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2022$4 
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$1 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(3)
Unrecognized tax benefits at December 31, 2023$2 
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$— 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(2)
Unrecognized tax benefits at December 31, 2024$— 
At December 31, 2024, 2023, and 2022, nil, $2 thousand, and $4 thousand, respectively, of these gross unrecognized benefits would, if recognized, decrease the Company’s effective tax rate.
The Company operates in numerous countries around the world and is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and, in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.
The Company files income tax returns in various U.S. federal and state jurisdictions, in all identified foreign jurisdictions, and various others. The statute of limitations remains open from 2021 for the U.S. federal jurisdiction, for 2016 and from 2019 for the Mexico federal jurisdiction, and from 2018 for certain other foreign jurisdictions. Our 2016 federal tax return is currently under audit in Mexico. As a result of statutes of limitations that will begin to expire within the next 12 months in various jurisdictions and possible settlement of audit-related issues with taxing authorities in various jurisdictions with respect to which none of these issues are individually significant, the Company believes that there will be no impact on its unrecognized income tax liability in the next 12 months.
The Company classifies interest and penalties associated with uncertain tax positions as a component of income tax expense and recognized interest and penalties of nil, nil, and nil at December 31, 2024, 2023, and 2022, respectively.
In 2021, the Organization for Economic Co-operation and Development (OECD) published Pillar Two Model Rules defining a global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of the Pillar Two global minimum tax. Effective January 1, 2024, a number of countries have proposed or enacted legislation to implement core elements of the Pillar Two proposal. The Company’s worldwide revenues did not exceed the thresholds necessary to be subject to the Pillar Two rules during its year ended December 31, 2024.
After considering 2025 business expansions, including the planned Q1 2025 closing of acquisition of SilverCrest Metals Inc., the Company may fall within the scope of the Pillar Two rules as of January 1, 2025. The Company will continue to monitor developments and evaluate the potential impact on future periods. At this time, because the Company primarily does business in jurisdictions with a tax rate greater than 15%, the Company does not anticipate a material future impact to its Consolidated Financial Statements.
v3.25.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company has stock incentive plans for executives and eligible employees. Stock awards include restricted stock, performance shares and stock options. Stock-based compensation expense for the years ended December 31, 2024, 2023, and 2022 was $12.0 million, $11.4 million and $10.0 million, respectively. At December 31, 2024, there was $8.9 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.6 years.
    Restricted Stock
Restricted stock granted under the Company’s incentive plans is accounted for based on the market value of the underlying shares on the date of grant and generally vests in equal installments annually over three years. Restricted stock awards are accounted for as equity awards. Holders of restricted stock are entitled to vote and to receive any dividends declared on the shares.
The following table summarizes restricted stock activity for the years ended December 31, 2024, 2023, and 2022:
 Restricted Stock
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
Granted3,251,765 2.94 
Vested(1,381,246)5.09 
Canceled/Forfeited(680,710)3.66 
Outstanding at December 31, 20233,974,419 $3.54 
Granted3,129,255 2.66 
Vested(1,576,652)4.11 
Canceled/Forfeited(308,396)2.82 
Outstanding at December 31, 20245,218,626 $2.89 
At December 31, 2024, there was $4.5 million of unrecognized compensation cost related to restricted stock awards to be recognized over a weighted-average period of 1.3 years.
Performance Shares
Performance shares granted under the Company’s incentive plans are accounted for as equity awards at fair value using a Monte Carlo simulation valuation model. Performance shares granted will vest at the end of a three-year service period if internal performance metrics are met, with the number of shares vesting impacted by the inclusion of a modifier based upon a relative stockholder return metric. The relative stockholder return metric is included in the determination of the grant date fair value of the performance shares; however, the recognition of compensation cost for performance share awards is based on the results of the internal performance metrics.
The following table summarizes performance shares activity for the years ended December 31, 2024, 2023, and 2022:
 Performance Shares
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20212,390,013 $5.80 
Granted (1)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (1)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
Granted (2)
1,816,429 3.16 
Vested(566,891)4.00 
Canceled/Forfeited (2)
(664,165)4.32 
Outstanding at December 31, 20233,159,910 $4.52 
Granted (3)
2,076,818 2.85 
Vested(379,402)8.30 
Canceled/Forfeited (3)
(215,814)8.55 
Outstanding at December 31, 20244,641,512 $3.24 
(1) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
(2) Includes 26,200 additional shares granted and 468,393 shares cancelled in connection with the vesting of the 2020 award in 2023 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(3) Includes 22,351 additional shares granted and 187,809 shares cancelled in connection with the vesting of the 2021 award in 2024 due to above-target and below target performance, respectively, in accordance with the terms of the award.
At December 31, 2024, there was $4.4 million of unrecognized compensation cost related to performance shares to be recognized over a weighted average period of 1.8 years.
Stock Options
Stock options granted under the Company’s incentive plans generally vest over three years and are exercisable over a period not to exceed ten years from the grant date. The exercise price of stock options is equal to the fair market value of the shares on the date of the grant. The value of each stock option award is estimated using the Black-Scholes option pricing model. Stock options are accounted for as equity awards.
The following table summarizes stock option activity for the years ended December 31, 2024, 2023, and 2022:
 Stock Options
SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2021131,253 $16.91 
Canceled/forfeited(5,598)11.88 
Expired(31,667)25.19 
Outstanding at December 31, 202293,988 $14.41 
Canceled/forfeited— — 
Expired(39,658)23.90 
Outstanding at December 31, 202354,330 $7.49 
Canceled/forfeited(10,908)9.31 
Exercised(14,292)5.57 
Outstanding at December 31, 202429,130 $7.75 
The following table summarizes outstanding stock options as of December 31, 2024:
Range of
Exercise Price		Number
Outstanding		Weighted Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0029,130 $7.75 2.8— 
Outstanding29,130 $7.75 2.8$— 
Vested and expected to vest29,130 $7.75 2.8$— 
Exercisable29,130 $7.75 2.8$— 
The total intrinsic value of options exercised for the year ended December 31, 2024 was $6 thousand. Cash received from options exercised for the year ended December 31, 2024 was $0.1 million and there was no related tax benefit. The grant date fair value for stock options vested during the years ended December 31, 2024, 2023, and 2022 was nil.
v3.25.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 Year Ended December 31,
In thousands202420232022
Change in the value of equity securities(1)
$— $3,384 $(63,529)
Termination of gold zero cost collars— — (3,139)
Fair value adjustments, net$— $3,384 $(66,668)
(1) Includes unrealized losses on held equity securities of nil, nil and $47.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1), secondary priority to quoted prices in inactive markets or observable inputs (Level 2), and the lowest priority to unobservable inputs (Level 3).
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2024
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$222 $— $222 $— 
Liabilities:
Provisional metal sales contracts$70 $— $70 $— 
 
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$318 $— $318 $— 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards$1,981 $— $1,981 $— 
The Company’s provisional metal sales contracts include concentrate and certain doré sales contracts that are valued using pricing models with inputs derived from observable market data, including forward market prices.
The Company’s gold and silver forward contracts are valued using pricing models with inputs derived from observable market data, including forward market prices, yield curves, and credit spreads.
No assets or liabilities were transferred between fair value levels in the year ended December 31, 2024.
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2024 and December 31, 2023 is presented in the following table:
 December 31, 2024
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$290,058 $278,014 $— $278,014 $— 
Revolving Credit Facility(2)
$195,000 $195,000 $— $195,000 $— 
Deferred Cash Due 2025$9,644 $9,673 $— $9,673 $— 
Deferred Cash Due 2026$4,505 $4,533 $— $4,533 $— 
(1) Net of unamortized debt issuance costs of $3.1 million.
(2) Unamortized debt issuance costs of $3.4 million included in Other Non-Current Assets.
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million.
(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.
The fair value of the 2029 Senior Notes was estimated using quoted market prices. The fair value of the RCF approximates book value as the liability is secured, has a variable interest rate, and lacks significant credit concerns.
In July 2024, the Company completed the purchase of the Fresnillo mining concessions. Total consideration includes a cash payment of $10 million paid at closing, the Deferred Cash Due 2025 of $10 million, and the Deferred Cash Due 2026 of $5 million. The fair value of the Deferred Cash Due 2025 and Deferred Cash Due 2026 was estimated using the pricing model with inputs derived from observable and unobservable data, including yield curves and credit spreads. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
v3.25.1
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS & HEDGING ACTIVITIES
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign currency exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. Derivative gains and losses are included in operating cash flows in the period in which they contractually settle. The Company does not hold or issue derivatives for trading or speculative purposes.
The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP. The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to either recognized assets or liabilities or forecasted transactions and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships.
Derivatives Designated as Cash Flow Hedging Strategies
To protect the Company’s exposure to fluctuations in metal prices, particularly during times of elevated capital expenditures, the Company has entered into forward contracts. The contracts were net settled monthly, and if the actual price of gold or silver at the time of expiration is lower than the fixed price or higher than the fixed price, it resulted in a realized gain or loss, respectively. The Company elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. At December 31, 2024, the Company had no outstanding derivative cash flow hedge instruments.
The effective portions of cash flow hedges were recorded in Accumulated other comprehensive income (loss) (“AOCI”) until the hedged item was recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue were recognized as a component of Revenue in the same period as the related sale is recognized.
At inception, the Company performed an assessment of the forecasted transactions and the hedging instruments and determined that the hedging relationships are considered perfectly effective. Future assessments are performed to verify that critical terms of the hedging instruments and the forecasted transactions continue to match, and the forecasted transactions
remain probable, as well as an assessment of any adverse developments regarding the risk of the counterparties defaulting on their commitments. There were no such changes in critical terms or adverse developments.
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2024
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $— 
Silver forwards$— $— $— 
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2024 and 2023, respectively (in thousands):
Year Ended December 31,
202420232022
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(10,886)$(10,627)$42,043 
Silver forwards(7,621)10,309 — 
Gold zero cost collars— — (4,598)
$(18,507)$(318)$37,445 
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$12,867 $(3,697)$(28,488)
Silver forwards4,309 (6,997)— 
Gold zero cost collars— — 4,598 
$17,176 $(10,694)$(23,890)
Derivatives Not Designated as Hedging Instruments
Provisional Metal Sales
The Company enters into sales contracts with third-party smelters, refiners and off-take customers which, in some cases, provide for a provisional payment based upon preliminary assays and quoted metal prices. The provisionally priced sales contracts contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable recorded at the forward price at the time of sale. The embedded derivatives do not qualify for hedge accounting and are marked to market through earnings each period until final settlement.
At December 31, 2024, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20252026 and Thereafter
Provisional gold sales contracts$37,451 $— 
Average gold price per ounce$2,642 $— 
Notional ounces14,173 — 
The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2024
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$222 $70 
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2024 and 2023, respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202420232022
RevenueProvisional metal sales contracts$(166)$30 $365 
Fair value adjustments, netTerminated zero cost collars— — (3,139)
$(166)$30 $(2,774)
Credit Risk
The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.
v3.25.1
Additional Comprehensive Income (Loss) Detail
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Additional Comprehensive Income (Loss) Detail ADDITIONAL COMPREHENSIVE INCOME (LOSS) DETAIL
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202420232022
Silvertip ongoing carrying costs$8,513 $15,616 20,963 
Loss on sale of assets4,250 12,879 (640)
Asset retirement accretion16,778 16,405 14,232 
Kensington royalty settlement(1)
7,156 — — 
Transaction costs8,517 — — 
Other6,059 9,736 6,092 
Pre-development, reclamation and other$51,273 $54,636 $40,647 
(1) See Note 17 -- Commitments and Contingencies for additional details on the Kensington royalty settlement.

Other, net consists of the following:
 Year Ended December 31,
In thousands202420232022
Foreign exchange gain (loss)$4,753 $(459)$(850)
Loss on dispositions— (12,318)63,789 
Flow-through shares5,563 2,057 — 
RMC bankruptcy distribution1,294 1,516 1,651 
Other1,417 1,741 1,741 
Other, net$13,027 $(7,463)$66,331 
v3.25.1
Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.
For the years ended December 31, 2024, 2023 and 2022, there were 61,467, 1,777,273 and 952,664 common stock equivalents, respectively, related to equity-based awards that were not included in the diluted earnings per share calculation as
the shares would be antidilutive.
Year ended December 31,
In thousands except per share amounts202420232022
Net income (loss) available to common stockholders$58,900 $(103,612)$(78,107)
Weighted average shares:
Basic391,709 343,059 275,178 
Effect of stock-based compensation plans5,713 — — 
Diluted397,422 343,059 275,178 
Income (loss) per share:
Basic$0.15 $(0.30)$(0.28)
Diluted$0.15 $(0.30)$(0.28)
On February 26, 2024, the Company entered into subscription agreements (the “Subscription Agreements”) with certain Canadian accredited investors (the “Investors”) for a private placement offering (the “Private Placement Offering”) of an aggregate of 7,704,725 shares of common stock, par value $0.01 per share, to be issued as “flow-through shares,” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “FT Shares”), which closed on March 8, 2024. The proceeds of the Private Placement Offering are used for certain qualifying “Canadian Exploration Expenditures” (as such term is defined in the Income Tax Act (Canada)) at the Company’s Silvertip exploration project. The initial Private Placement Offering raised net proceeds of $23.7 million, of which $0.9 million represents net proceeds received in excess of the Company’s trading price (“FT Premium Liability”). During the year ended December 31, 2024, the Company recognized the remaining FT Premium Liability associated with the prior year private placement offering of flow-through shares resulting in income of $5.6 million included in Other, net. The FT Premium Liability is included in Accrued liabilities and other on the Consolidated Balance Sheet and will decrease in subsequent periods as certain qualifying “Canadian Exploration Expenditures” are incurred.
The FT Shares were not registered under the Securities Act and were offered and sold outside the United States to accredited investors in reliance on Regulation S and/or Regulation D of the Securities Act.
v3.25.1
Supplemental Guarantor Information
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
SUPPLEMENTAL GUARANTOR INFORMATION SUPPLEMENTAL GUARANTOR INFORMATION
The following summarized financial information is presented to satisfy disclosure requirements of Rule 13-01 of Regulation S-X resulting from the guarantees by Coeur Alaska, Inc., Coeur Explorations, Inc., Coeur Rochester, Inc., Coeur South America Corp., Wharf Resources (U.S.A.), Inc. and its subsidiaries, Coeur Capital, Inc., Sterling Intermediate Holdco, Inc., and Coeur Sterling Holdings LLC (collectively, the “Subsidiary Guarantors”) of the 2029 Senior Notes. The following schedules present summarized financial information of (a) Coeur, the parent company, and (b) the Subsidiary Guarantors (collectively the “Obligor Group”). The summarized financial information of the Obligor Group is presented on a combined basis with intercompany balances and transactions between entities in the Obligor Group eliminated. The Obligor Group’s amounts due from, amounts due to and transactions with certain wholly-owned domestic and foreign subsidiaries of the Company have been presented in separate line items, if they are material. Each of the Subsidiary Guarantors is 100% owned by Coeur and the guarantees are full and unconditional and joint and several obligations. There are no restrictions on the ability of Coeur to obtain funds from the Subsidiary Guarantors by dividend or loan.
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Subsidiary Guarantors
In thousandsDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023
Current assets$13,782 $19,850 $164,627 $143,170 
Non-current assets(1)
$516,209 $393,773 $1,483,632 $1,286,135 
Non-guarantor intercompany assets$3,144 $— $— $— 
Current liabilities$31,841 $27,836 $202,329 $198,262 
Non-current liabilities$496,976 $478,488 $260,210 $203,405 
Non-guarantor intercompany liabilities$2,642 $6,033 $1,570 $1,591 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2024
In thousandsCoeur Mining, Inc.Subsidiary Guarantors
Revenue$— $674,946 
Gross profit (loss)$(780)$188,232 
Net income (loss)$58,900 $122,655 
v3.25.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Mexico Litigation Matters
As of December 31, 2024, $26.0 million in principal is due from the Mexican government associated with amounts that were paid as VAT under Coeur Mexicana, S.A. de C.V.’s (“Coeur Mexicana’s”) prior royalty agreement with a subsidiary of Franco-Nevada Corporation, which was terminated in 2016. Coeur Mexicana applied for and initially received refunds in the normal course of these amounts paid as VAT associated with the royalty payments; however, in 2011 the Mexican tax authorities began denying refunds of these amounts based on the argument that VAT was not legally due on the royalty payments. Accordingly, Coeur Mexicana began to request refunds of these amounts paid as VAT as undue payments, which the Mexican tax authorities also denied. The Company has since been engaged in ongoing efforts to recover these amounts from the Mexican government (including through refiling refund requests as undue payments rather than refunds of VAT that were due, litigation and international arbitration). Despite a favorable ruling from Mexican tax courts in this matter in 2018, litigation of the matter continued at the Mexican administrative, appeals court and supreme court levels for several years, most of which was determined unfavorably to Coeur based on interpretations of applicable law and prior court decisions which the Company and its counsel believe are contrary to legal precedent, conflicting and erroneous. While the Company believes that it remains legally entitled to be refunded the full amount of the receivable and intends to rigorously continue its recovery efforts, based on the continued failure to recover the receivable and unfavorable Mexican court decisions, the Company determined to write down the carrying value of the receivable at September 30, 2021. Coeur has initiated an arbitration proceeding under Chapter 11 of the North American Free Trade Agreement, or NAFTA, to pursue recovery of the unduly paid VAT plus interest and other damages. Outcomes in NAFTA arbitration and the process for recovering funds even if there is a successful outcome in NAFTA arbitration can be lengthy and unpredictable.
Palmarejo Gold Stream
Coeur Mexicana currently sells 50% of Palmarejo gold production (excluding production from certain properties acquired in 2015 and 2024) to a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) under a gold stream agreement for the lesser of $800 or spot price per ounce (“Franco-Nevada Gold Stream Agreement”). The Franco-Nevada Gold Stream Agreement supersedes an earlier arrangement made in January 2009 in which Franco-Nevada purchased a royalty covering 50% of the gold produced by Coeur Mexicana from its Palmarejo silver and gold mine in Mexico in exchange for total consideration of $78.0 million, consisting of $75.0 million in cash plus a warrant to acquire Franco-Nevada Common Shares that was then-valued at $3.0 million (the “Prior Gold Stream Agreement”). The Prior Gold Stream Agreement was terminated in 2014 and its minimum ounce delivery requirement satisfied in 2016, after which sales under the Franco-Nevada Gold Stream Agreement commenced. Under the Franco-Nevada Gold Stream Agreement, Coeur Mexicana received a $22.0 million deposit toward future deliveries. In accordance with generally accepted accounting principles, although Coeur Mexicana has satisfied its contractual obligation to repay the deposit to Franco-Nevada, the deposit is accounted for as deferred revenue and is recognized as revenue on a units-of-production basis as ounces are sold to Franco-Nevada. Because there is no minimum obligation associated with the deposit, it is not considered a financing, and each shipment is considered to be a separate performance obligation. The stream agreement represents a contract liability under ASC 606, which requires the Company to ratably recognize a portion of the deposit as revenue for each gold ounce delivered to Franco-Nevada. The remaining unamortized balance is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheet.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$6,942 $7,411 $8,150 
Revenue Recognized(560)(469)(739)
Closing Balance$6,382 $6,942 $7,411 
Metal Sales Prepayments
In June 2019, Coeur amended its existing sales and purchase contract with a metal sales counterparty for gold concentrate from its Kensington mine (the “Amended Sales Contract”). From time to time thereafter, the Amended Sales Contract has been further amended to allow for additional prepayments. In September 2024, the Company received an additional prepayment of $25.0 million, following the fulfillment of the previous received prepayments.
Additionally, in June 2023, the Company entered into sales and purchase contracts with a metal sales counterparty for gold electrolytic cathodic sludge from its Wharf mine and gold and silver doré from its Rochester mine, both of which were amended in September 2023 to increase the maximum amount available in prepayments to $12.5 million and $17.5 million, respectively. In December 2024, Wharf and Rochester received additional prepayments of $12.5 million and $17.5 million, respectively, following the fulfillment of the previous received prepayments received at Wharf and Rochester.
The metal sales prepayments represent a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold and silver ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Consolidated Balance Sheet. Under the relevant terms of the Amended Sales Contract, Coeur maintains its exposure to the price of gold and silver and expects to recognize the remaining value of the accrued liability by December 2025.
The following table presents a roll forward of the prepayment contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$55,082 $25,016 $15,016 
Additions170,000 130,066 36,020 
Revenue Recognized(182,918)(100,000)(26,020)
Closing Balance$42,164 $55,082 $25,016 
Kensington Royalty Matter
On March 28, 2024, the Company and its subsidiary Coeur Alaska, Inc. (“Coeur Alaska”) entered into a settlement agreement to resolve litigation with Maverix Metals Inc. and Maverix Metals (Nevada) Inc. (collectively “Maverix”) regarding the terms of a royalty impacting a portion of the Kensington mine property (the “Maverix Litigation”). While Coeur Alaska continued to believe its claims and counterclaims in the matter were valid, it determined that the settlement was appropriate given the inherent uncertainty presented in litigation matters. In consideration for the dismissal of the Maverix Litigation and pursuant to other customary terms of settlement, Coeur Alaska and Maverix agreed to amend the terms of the royalty to decrease the effective rate of the royalty and to eliminate the concept of cost recoupment provided for in the original royalty. The amended royalty now provides that Coeur Alaska pays a net returns royalty on up to two million troy ounces of gold produced from the current boundaries of the Kensington mine at a rate of: (i) 1.25% for production occurring from January 1, 2024 through December 31, 2026 and (ii) 1.5% for production occurring on or after January 1, 2027. The Company also agreed to issue up to 2,455,000 shares of its common stock to an affiliate of Maverix, including common stock having a then-current fair market value of $3.0 million by April 2, 2024, and common stock having a then-current fair market value of $3.75 million by March 28, 2025 (collectively, the “Settlement Shares”), with a cash-settlement of any shortfall in value if all 2,455,000 shares of common stock are issued. The settlement provides that credit for the value of certain portions of equity issued to be credited against the royalty, as amended, as payment in arrears for production prior to January 1, 2024. In April 2024, the Company issued 737,210 shares to settle the first equity issuance. The issuance of the Settlement Shares is being made pursuant to the exemption from the registration requirements afforded by Section 4(a)(2) of the Securities Act of 1933, as amended.
Other Commitments and Contingencies
As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit, bank guarantees and, in some cases, cash as financial support for various purposes, including environmental remediation, reclamation, collateral for gold and silver hedges and other general corporate purposes. As of December 31, 2024 and December 31, 2023, the Company had surety bonds totaling $363.7 million and $324.8 million,
respectively, in place as financial support for future reclamation and closure costs. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations and, from time-to-time, the Company may be required to post collateral, including cash or letters of credit which reduce availability under its revolving credit facility, to support these instruments. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. The Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements through existing or alternative means, as they arise.
v3.25.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block] ADDITIONAL BALANCE SHEET DETAIL AND SUPPLEMENTAL CASH FLOW INFORMATION
Accrued liabilities and other consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Accrued salaries and wages$31,151 $31,722 
Flow-through share premium received853 5,563 
Deferred revenue (1)
42,863 55,547 
Income and mining taxes36,490 11,766 
Kensington royalty settlement (1)
3,750 — 
Deferred Cash Due 20259,644 — 
Accrued operating costs6,577 11,081 
Unrealized losses on derivatives70 1,981 
Taxes other than income and mining5,491 5,321 
Accrued interest payable8,122 7,957 
Operating lease liabilities11,598 9,975 
Accrued liabilities and other$156,609 $140,913 
(1) See Note 17 -- Commitments and Contingencies for additional details on deferred revenue liabilities.
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that total the same such amounts shown in the Consolidated Statements of Cash Flows in the years ended December 31, 2024 and 2023:
In thousandsDecember 31, 2024December 31, 2023
Cash and cash equivalents$55,087 $61,633 
Restricted cash equivalents(1)
1,787 1,745 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$56,874 $63,378 
(1) Restricted cash equivalents are included in Prepaid expenses and other and Restricted assets on the Consolidated Balance Sheet.
Year ended December 31,
202420232022
Non-cash lease obligations arising from obtaining operating lease assets$21,230 $718 $4,120 
Non-cash financing and investing activities:
Finance lease obligations$54,330 $32,978 $43,810 
Capital expenditures, not yet paid$26,515 $44,966 $33,688 
Debt for equity exchange $5,867 $76,018 $— 
Other cash flow information:
Interest paid$49,806 $41,249 $32,704 
Income and mining taxes paid$45,100 $35,000 $41,600 
v3.25.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
On October 3, 2024, the Company entered into a definitive agreement (the “Agreement”) whereby, a wholly-owned subsidiary of Coeur would acquire all of the issued and outstanding shares of SilverCrest Metals Inc. (“SilverCrest”) pursuant to a court-approved plan of arrangement (the “Transaction”). Under the terms of the Agreement, SilverCrest shareholders were to receive 1.6022 Coeur common shares for each SilverCrest common share (the “Exchange Ratio”).
On February 14, 2025, the Company completed the closing of the Transaction after receiving regulatory approval on February 3, 2025 followed by shareholder approval on February 6, 2025. Coeur acquired all of the issued and outstanding shares of SilverCrest in exchange for 239,331,799 common shares. Based on the closing price of Coeur common shares on the NYSE on February 14, 2025, the implied total equity value was approximately $1.58 billion based on SilverCrest’s common shares outstanding and the Exchange Ratio. Given the timing of the completion of the Transaction, we are currently in the process of valuing the assets acquired and liabilities assumed in the Transaction. As a result, we are unable to provide the amounts recognized as of the acquisition date for the major classes of assets acquired and liabilities assumed and other disclosures. In connection with the Transaction, Coeur increased the authorized common shares for issuance to 900,000,000 common shares.
v3.25.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Risks and Uncertainties
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment and mining properties, net, inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events could result in material impairment charges related to these assets.
Use of Estimates, Policy
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Consolidation, Policy
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables, Policy
Receivables
Trade receivables and other receivable balances are recognized net of an allowance for credit losses. The allowance represents the portion of the amortized cost basis that the Company does not expect to collect due to credit over the contractual life of the receivables, taking into consideration past events, current conditions and reasonable and supportable forecasts of future economic conditions. As of December 31, 2024, the amount of credit loss recognized is not significant.
Ore on Leach Pad
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue and are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold electrolytic cathodic sludge at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. In the first quarter of 2024, the Company completed a review of the estimated recoverable ounces of gold and silver on its leach pads and determined that as a result of longer expected leach time and favorable recoveries relative to previous estimates, that the estimated recoverable gold and silver on the Rochester legacy leach pads (Stages 2, 3 and 4) supported an upward revision. An additional 6,000 ounces of gold and 900,000 ounces of silver were added to the legacy leach pads in the first quarter of 2024. There are five reusable heap leach pads (load/offload) used at Wharf. Each pad goes through an approximate 24-month process of loading of ore, leaching and offloading which includes a neutralization and denitrification process. During the leaching cycle of each pad, revised estimated recoverable ounces for each of the pads may result in an upward or downward revision from time to time, which generally have not been significant. The updated recoverable ounce estimate is considered a change in estimate and was accounted for prospectively. As of December 31, 2024, the Company’s combined estimated recoverable ounces of gold and silver on the leach pads were 49,575 and 6.9 million, respectively.
Metal and Other Inventory
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant and Equipment, Useful Life
Property, Plant, and Equipment and Mining Properties, Net
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and
other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $16.8 million and $10.0 million in the years ended December 31, 2024 and 2023, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
Impairment or Disposal of Long-Lived Assets, Policy
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors that may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Restricted Assets Policy
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2024 and 2023, the Company held certificates of deposit and cash under these agreements of $8.5 million and $9.1 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Lessee, Leases
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 7 -- Leases for additional information related to the Company’s operating and finance leases.
Asset Retirement Obligation
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 9 -- Reclamation for additional information.
Foreign Currency Transactions and Translations Policy
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivatives, Policy
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated
with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 13 -- Derivative Financial Instruments and Hedging Activities for additional information.
Share-based Compensation, Option and Incentive Plans Policy
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model using market comparison. Stock options granted are accounted for as equity-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock-based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company’s stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company’s performance, and related tax impacts. See Note 11 -- Stock-Based Compensation for additional information.
Income Tax, Policy
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Revenue Recognition, Policy
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months after the shipment date, based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
Recently Adopted Accounting Standards
Recently Adopted Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company adopted the new derivatives and hedging standards effective January 1, 2023, which did not have a material effect on our financial position, results of operations or cash flows.
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We have adopted the new standard effective December 31, 2024 retrospectively for all periods presented. See Note 3 -- Segment Reporting for all periods presented with the new required disclosures. The new standard did not impact our Consolidated Financial Statements.
Recent Accounting Standards
Recently Issued Accounting Standards
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Although early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance, the Company believes that there is no material impact to the reader in early adoption. The Company plans to adopt this new guidance on our Consolidated Financial Statements and related disclosures on reporting year ending December 31, 2025.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures, which includes amendments to require the disclosure of certain specific costs and expenses that are included in a relevant expense caption on the face of the income statement. Specific costs and expenses that would be required to be disclosed include: purchases of inventory, employee compensation, depreciation and intangible asset amortization. Additionally, a qualitative description of other items is required, equal to the difference between the relevant expense caption and the separately disclosed specific costs. The amendments in ASU 2024-03 are effective for fiscal years beginning after December 15, 2026, and for interim periods beginning after December 15, 2027, and are applied either prospectively or retrospectively at the option of the Company. We are evaluating the impact of the amendments on our Consolidated Financial Statements and related disclosures.
v3.25.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Contract Liability
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$6,942 $7,411 $8,150 
Revenue Recognized(560)(469)(739)
Closing Balance$6,382 $6,942 $7,411 
The following table presents a roll forward of the prepayment contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$55,082 $25,016 $15,016 
Additions170,000 130,066 36,020 
Revenue Recognized(182,918)(100,000)(26,020)
Closing Balance$42,164 $55,082 $25,016 
v3.25.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Financial information relating to the reporting segments
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$190,520 $91,541 $225,200 $227,600 $— $— $734,861 
Silver sales188,540 124,271 (71)6,405 — — 319,145 
Metal sales379,060 215,812 225,129 234,005 — — 1,054,006 
Costs and Expenses
Costs applicable to sales(1)
195,458 154,611 157,757 98,366 — — 606,192 
Amortization44,979 41,293 28,201 6,487 3,235 779 124,974 
Exploration13,230 5,070 5,494 6,192 27,332 2,340 59,658 
Other operating expenses(2)
8,665 12,963 9,753 4,519 9,923 53,177 99,000 
Costs and expenses262,332 213,937 201,205 115,564 40,490 56,296 889,824 
Income (loss) from operations116,728 1,875 23,924 118,441 (40,490)(56,296)164,182 
Other income (expense)
Gain on debt extinguishment— — — — — 417 417 
Fair value adjustments, net— — — — — — — 
Interest expense, net324 (5,081)(1,681)(544)(11)(44,283)(51,276)
Other, net(3)
7,074 (363)(312)(509)(43)7,180 13,027 
Income (loss) before income and mining taxes124,126 (3,569)21,931 117,388 (40,544)(92,982)126,350 
Income and mining tax (expense) benefit(45,765)(1,778)(576)(10,679)— (8,652)(67,450)
Net Income (loss) $78,361 $(5,347)$21,355 $106,709 $(40,544)$(101,634)$58,900 
Segment assets(4)
$316,232 $1,227,745 $223,525 $119,407 $219,613 $55,359 $2,161,881 
Capital expenditures$30,621 $72,676 $68,656 $7,175 $3,597 $463 $183,188 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Year Ended December 31, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$155,036 $75,571 $162,010 $183,060 $— $— $575,677 
Silver sales158,171 80,451 468 6,439 — — 245,529 
Metal sales313,207 156,022 162,478 189,499 — — 821,206 
Costs and Expenses
Costs applicable to sales(1)
194,309 171,271 152,659 114,657 — — 632,896 
Amortization35,709 26,392 25,905 6,694 4,018 1,104 99,822 
Exploration7,840 1,221 7,900 — 12,251 1,750 30,962 
Other operating expenses(2)
8,064 26,005 3,440 4,157 17,104 37,471 96,241 
Costs and expenses245,922 224,889 189,904 125,508 33,373 40,325 859,921 
Income (loss) from operations67,285 (68,867)(27,426)63,991 (33,373)(40,325)(38,715)
Other income (expense)
Gain on debt extinguishment— — — — — 3,437 3,437 
Fair value adjustments, net— — — — — 3,384 3,384 
Interest expense, net844 (1,603)(1,744)(329)(63)(26,204)(29,099)
Other, net(3)
4,590 (293)(311)(396)(129)(10,924)(7,463)
Income (loss) before income and mining taxes72,719 (70,763)(29,481)63,266 (33,565)(70,632)(68,456)
Income and mining tax (expense) benefit(26,016)(816)— (7,047)— (1,277)(35,156)
Net Income (loss)$46,703 $(71,579)$(29,481)$56,219 $(33,565)$(71,909)$(103,612)
Segment assets(4)
$312,879 $1,081,442 $171,602 $102,245 $215,545 $59,324 $1,943,037 
Capital expenditures$41,766 $263,401 $53,316 $2,472 $2,867 $795 $364,617 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses(2)
4,372 7,540 1,685 1,379 22,322 42,809 80,107 
Costs and expenses228,985 199,959 203,079 112,689 31,862 48,313 824,887 
Income (loss) from operations74,449 (70,296)(586)37,357 (31,862)(48,313)(39,251)
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (306)(206)(62)(354)64,055 66,331 
Income (loss) before income and mining taxes77,641 (71,412)(2,238)37,229 (32,392)(72,277)(63,449)
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(4)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
Consolidated Assets
Assets December 31, 2024December 31, 2023
Total assets for reportable segments$2,161,881 $1,943,037 
Cash and cash equivalents55,087 61,633 
Other assets84,779 76,178 
Total consolidated assets$2,301,747 $2,080,848 
Long Lived Assets by Country
Geographic Information
Long-Lived Assets December 31, 2024December 31, 2023
United States$1,312,976 $1,201,988 
Mexico267,144 256,906 
Canada237,263 229,242 
Other233 152 
Total$1,817,616 $1,688,288 
Revenue from External Customers by Geographic Areas
RevenueYear ended December 31,
202420232022
United States$674,946 $507,999 $482,202 
Mexico379,060 313,207 303,434 
Total$1,054,006 $821,206 $785,636 
Schedule of Revenue by Major Customers by Reporting Segments
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years ended December 31, 2024, 2023, and 2022 (in millions):
Year ended December 31,
Customer2024202302022Segments reporting revenue
Bank of Montreal$445.6 $367.2 $341.5 Palmarejo, Rochester, Wharf
Ocean Partners$484.5 $346.2 $168.9 Palmarejo, Rochester, Kensington, Wharf
Asahi$104.9 $63.7 $125.3 Palmarejo, Rochester, Kensington, Wharf
v3.25.1
Receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Receivables Receivables consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Current receivables:
Trade receivables$7,818 $3,858 
VAT receivable12,684 15,634 
Income tax receivable8,509 10,207 
Gold and silver forwards realized gains (1)
— 615 
Other919 721 
$29,930 $31,035 
Non-current receivables:
Other tax receivable (2)
$5,554 $9,111 
Deferred cash consideration (3)
834 834 
Contingent consideration (4)
13,195 13,195 
$19,583 $23,140 
Total receivables$49,513 $54,175 
(1) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 13 -- Derivative Financial Instruments & Hedging Activities for additional details on the gold and silver forward hedges.
(2) Consists of exploration credit refunds at Silvertip.
(3) Represents the fair value of the contingent consideration related to the sale of La Preciosa Deferred Consideration, which included the right to an additional payment of $1.0 million on the first anniversary of initial production from any portion of the La Preciosa project. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
(4) Represents the fair value of the contingent consideration associated with the sale of Sterling/Crown exploration properties, which included the right to an additional payment of $50.0 million should the buyer, its affiliates or its successors, report gold resources in the Sterling/Crown exploration properties. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
v3.25.1
Inventory and Ore on Leach Pads (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventory consists of the following:
In thousandsDecember 31, 2024December 31, 2023
Inventory:
Concentrate$5,795 $3,606 
Precious metals19,675 20,395 
Supplies53,147 52,660 
$78,617 $76,661 
Ore on Leach Pads:
Current$92,724 $79,400 
Non-current106,670 25,987 
$199,394 $105,387 
Long-term Stockpile (included in Other)
$41,718 $46,702 
Total Inventory and Ore on Leach Pads$319,729 $228,750 
    Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2024, the cost associated with the stockpile at Rochester exceeded its net realizable value, which resulted in non-cash write down of $4.0 million ($3.2 million was recognized in Costs applicable to sales and $0.8 million in Amortization).
v3.25.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
Property, plant and equipment and mining properties, net consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Mine development$1,502,457 $1,358,189 
Mineral interests833,564 809,912 
Land9,000 8,318 
Facilities and equipment(1)
1,517,170 947,435 
Construction in progress(2)
145,732 612,865 
Total$4,007,923 $3,736,719 
Accumulated depreciation, depletion and amortization(3)
(2,190,307)(2,048,431)
Property, plant and equipment and mining properties, net$1,817,616 $1,688,288 
(1) Includes $170.1 million and $127.6 million associated with facilities and equipment assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
(2) Includes $471.7 million of construction costs related to the Rochester expansion project at December 31, 2023.
(3) Includes $63.3 million and $37.6 million of accumulated amortization related to assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
v3.25.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Lease Cost and Cash Flow Information
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202420232022
Lease Cost
Operating lease cost$12,924 $12,536 $11,939 
Short-term operating lease cost$13,784 $12,223 $10,573 
Finance lease cost:
Amortization of leased assets$34,424 $27,985 $21,571 
Interest on lease liabilities4,844 3,762 5,084 
Total finance lease cost$39,268 $31,747 $26,655 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202420232022
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$26,709 $24,759 $22,511 
Operating cash flows from finance leases$4,844 $3,762 $5,084 
Financing cash flows from finance leases$24,524 $24,505 $31,316 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2024December 31, 2023
Operating Leases
Other assets, non-current$23,913 $14,064 
Accrued liabilities and other11,598 9,975 
Other long-term liabilities14,797 6,340 
Total operating lease liabilities$26,395 $16,315 
Finance Leases
Property and equipment, gross$170,144 $127,591 
Accumulated depreciation(63,278)(37,612)
Property and equipment, net$106,866 $89,979 
Debt, current$31,380 $22,636 
Debt, non-current73,620 52,558 
Total finance lease liabilities$105,000 $75,194 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases2.122.03
Weighted-average remaining lease term - operating leases3.975.19
Weighted Average Discount Rate
Weighted-average discount rate - finance leases6.6 %6.1 %
Weighted-average discount rate - operating leases6.2 %5.3 %
Operating Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2024 (In thousands)
Operating leases Finance leases
2025$11,841 $37,227 
202610,196 28,132 
20271,261 21,225 
2028954 23,040 
2029952 10,684 
Thereafter4,625 — 
Total$29,829 $120,308 
Less: imputed interest(3,434)(15,308)
Net lease obligation$26,395 $105,000 
Finance Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2024 (In thousands)
Operating leases Finance leases
2025$11,841 $37,227 
202610,196 28,132 
20271,261 21,225 
2028954 23,040 
2029952 10,684 
Thereafter4,625 — 
Total$29,829 $120,308 
Less: imputed interest(3,434)(15,308)
Net lease obligation$26,395 $105,000 
v3.25.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long term debt and capital lease obligations
 December 31, 2024December 31, 2023
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $290,058 $— $295,115 
Revolving Credit Facility(2)
— 195,000 — 175,000 
Finance lease obligations31,380 73,620 22,636 52,559 
$31,380 $558,678 $22,636 $522,674 
(1) Net of unamortized debt issuance costs of $3.1 million and $3.9 million at December 31, 2024 and December 31, 2023, respectively.
(2) Unamortized debt issuance costs of $3.4 million and $2.8 million at December 31, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets.
Interest Expenses Incurred for Various Debt Instruments [Table Text Block]
Interest Expense
 Year Ended December 31,
In thousands202420232022
2029 Senior Notes$15,086 $17,288 19,219 
Revolving Credit Facility26,749 17,752 8,503 
Finance lease obligations4,844 3,762 5,084 
Amortization of debt issuance costs2,360 2,709 2,052 
Other obligations3,293 2,149 166 
Capitalized interest(1,056)(14,561)(11,163)
Total interest expense, net of capitalized interest$51,276 $29,099 $23,861 
v3.25.1
Reclamation (Tables)
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Year Ended December 31,
In thousands20242023
Asset retirement obligation - Beginning$214,013 $202,431 
Accretion16,778 16,405 
Additions and changes to estimates35,455 991 
Settlements(5,754)(5,814)
Asset retirement obligation - Ending$260,492 $214,013 
v3.25.1
Income and Mining Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202420232022
United States$50,194 $(107,021)$(107,477)
Foreign76,156 38,565 44,028 
Total$126,350 $(68,456)$(63,449)
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202420232022
Current:   
United States$(145)$981 $(21)
United States — State mining taxes(11,256)(7,047)(2,936)
United States — Foreign withholding tax(33)(119)(300)
Canada(1,147)(848)(305)
Mexico(63,604)(30,222)(29,546)
Other— — — 
Deferred:
United States149 305 215 
United States — State mining taxes(1,778)(1,076)5,558 
Canada(376)— 254 
Mexico10,740 2,870 12,423 
Other— — — 
Income tax (expense) benefit$(67,450)$(35,156)$(14,658)
Schedule of Effective Income Tax Rate Reconciliation
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202420232022
Income and mining tax (expense) benefit at statutory rate$(28,465)$14,376 $13,249 
State tax provision from continuing operations(149)4,859 2,871 
Change in valuation allowance727 (36,778)(36,670)
Percentage depletion6,974 5,649 3,538 
Uncertain tax positions2 6 655 
U.S. and foreign permanent differences(7,765)(3,056)365 
Foreign exchange rates2,405 1,179 (145)
Foreign inflation and indexing2,322 3,077 2,897 
Foreign tax rate differences(8,923)(3,911)(4,994)
Foreign withholding and other taxes(8,307)(1,381)169 
Mining taxes(26,901)(16,884)(11,239)
Sale of non-core assets— (1,322)15,447 
Enactment of 1% increase in Mexico special mining duty tax(1,696)— — 
Other, net2,326 (970)(801)
Income and mining tax (expense) benefit$(67,450)$(35,156)$(14,658)
Schedule of Deferred Tax Assets and Liabilities
At December 31, 2024 and 2023, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20242023
Deferred tax liabilities:  
Property, plant, and equipment$5,529 $— 
 $5,529 $— 
Deferred tax assets:
Net operating loss carryforwards$304,244 $302,114 
Mineral properties50,824 44,244 
Property, plant, and equipment— 12,068 
Mining royalty tax8,314 7,345 
Capital loss carryforwards16,910 5,167 
Asset retirement obligation49,306 45,155 
Accrued expenses18,117 25,321 
Tax credit carryforwards13,620 14,506 
Other long-term assets30,612 11,566 
 $491,947 $467,486 
Valuation allowance(490,044)(479,846)
 $1,903 $(12,360)
Net deferred tax liabilities$3,626 $12,360 
Summary of Valuation Allowance Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20242023
U.S. $268,119 $262,059 
Canada200,319 194,727 
Mexico408 723 
New Zealand21,013 22,229 
Other185 108 
 $490,044 $479,846 
Summary of Tax Credit Carryforwards
The Company has the following tax attribute carryforwards at December 31, 2024, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$614,873 $457,894 $1,913 $76,041 $814 $1,151,535 
Expiration years2025-2037, Indefinite2028-20442029-2035Indefinite2025-2029
Capital losses53,483 26,363 — — — 79,846 
Foreign tax credits10,864 — — — — 10,864 
Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2022$4 
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$1 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(3)
Unrecognized tax benefits at December 31, 2023$2 
Gross increase to current period tax positions$— 
Gross increase to prior period tax positions$— 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations$(2)
Unrecognized tax benefits at December 31, 2024$— 
v3.25.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock activity for the years ended December 31, 2024, 2023, and 2022:
 Restricted Stock
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
Granted3,251,765 2.94 
Vested(1,381,246)5.09 
Canceled/Forfeited(680,710)3.66 
Outstanding at December 31, 20233,974,419 $3.54 
Granted3,129,255 2.66 
Vested(1,576,652)4.11 
Canceled/Forfeited(308,396)2.82 
Outstanding at December 31, 20245,218,626 $2.89 
Share-based Payment Arrangement, Performance Shares, Outstanding Activity
The following table summarizes performance shares activity for the years ended December 31, 2024, 2023, and 2022:
 Performance Shares
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20212,390,013 $5.80 
Granted (1)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (1)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
Granted (2)
1,816,429 3.16 
Vested(566,891)4.00 
Canceled/Forfeited (2)
(664,165)4.32 
Outstanding at December 31, 20233,159,910 $4.52 
Granted (3)
2,076,818 2.85 
Vested(379,402)8.30 
Canceled/Forfeited (3)
(215,814)8.55 
Outstanding at December 31, 20244,641,512 $3.24 
(1) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
(2) Includes 26,200 additional shares granted and 468,393 shares cancelled in connection with the vesting of the 2020 award in 2023 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(3) Includes 22,351 additional shares granted and 187,809 shares cancelled in connection with the vesting of the 2021 award in 2024 due to above-target and below target performance, respectively, in accordance with the terms of the award.
Schedule of Stock Options Roll Forward
The following table summarizes stock option activity for the years ended December 31, 2024, 2023, and 2022:
 Stock Options
SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2021131,253 $16.91 
Canceled/forfeited(5,598)11.88 
Expired(31,667)25.19 
Outstanding at December 31, 202293,988 $14.41 
Canceled/forfeited— — 
Expired(39,658)23.90 
Outstanding at December 31, 202354,330 $7.49 
Canceled/forfeited(10,908)9.31 
Exercised(14,292)5.57 
Outstanding at December 31, 202429,130 $7.75 
The following table summarizes outstanding stock options as of December 31, 2024:
Range of
Exercise Price		Number
Outstanding		Weighted Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0029,130 $7.75 2.8— 
Outstanding29,130 $7.75 2.8$— 
Vested and expected to vest29,130 $7.75 2.8$— 
Exercisable29,130 $7.75 2.8$— 
v3.25.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Adjustments to Comprehensive income (Loss)
 Year Ended December 31,
In thousands202420232022
Change in the value of equity securities(1)
$— $3,384 $(63,529)
Termination of gold zero cost collars— — (3,139)
Fair value adjustments, net$— $3,384 $(66,668)
(1) Includes unrealized losses on held equity securities of nil, nil and $47.9 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Financial assets and liabilities measured at fair value on recurring basis
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2024
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$222 $— $222 $— 
Liabilities:
Provisional metal sales contracts$70 $— $70 $— 
 
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$318 $— $318 $— 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards$1,981 $— $1,981 $— 
Financial Assets and Liabilities not Measured at Fair Value
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2024 and December 31, 2023 is presented in the following table:
 December 31, 2024
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$290,058 $278,014 $— $278,014 $— 
Revolving Credit Facility(2)
$195,000 $195,000 $— $195,000 $— 
Deferred Cash Due 2025$9,644 $9,673 $— $9,673 $— 
Deferred Cash Due 2026$4,505 $4,533 $— $4,533 $— 
(1) Net of unamortized debt issuance costs of $3.1 million.
(2) Unamortized debt issuance costs of $3.4 million included in Other Non-Current Assets.
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million.
(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.
v3.25.1
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of the derivative instruments
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2024
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $— 
Silver forwards$— $— $— 
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2024 and 2023, respectively (in thousands):
Year Ended December 31,
202420232022
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(10,886)$(10,627)$42,043 
Silver forwards(7,621)10,309 — 
Gold zero cost collars— — (4,598)
$(18,507)$(318)$37,445 
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$12,867 $(3,697)$(28,488)
Silver forwards4,309 (6,997)— 
Gold zero cost collars— — 4,598 
$17,176 $(10,694)$(23,890)
The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2024
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$222 $70 
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
Derivative instruments, future settlement
At December 31, 2024, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20252026 and Thereafter
Provisional gold sales contracts$37,451 $— 
Average gold price per ounce$2,642 $— 
Notional ounces14,173 — 
Gain losses on derivative instruments
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2024 and 2023, respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202420232022
RevenueProvisional metal sales contracts$(166)$30 $365 
Fair value adjustments, netTerminated zero cost collars— — (3,139)
$(166)$30 $(2,774)
Credit Risk
The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.
v3.25.1
Additional Comprehensive Income (Loss) Detail (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of Other Operating Cost and Expense, by Component
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202420232022
Silvertip ongoing carrying costs$8,513 $15,616 20,963 
Loss on sale of assets4,250 12,879 (640)
Asset retirement accretion16,778 16,405 14,232 
Kensington royalty settlement(1)
7,156 — — 
Transaction costs8,517 — — 
Other6,059 9,736 6,092 
Pre-development, reclamation and other$51,273 $54,636 $40,647 
(1) See Note 17 -- Commitments and Contingencies for additional details on the Kensington royalty settlement.
Schedule of Nonoperating Income (Expense)
Other, net consists of the following:
 Year Ended December 31,
In thousands202420232022
Foreign exchange gain (loss)$4,753 $(459)$(850)
Loss on dispositions— (12,318)63,789 
Flow-through shares5,563 2,057 — 
RMC bankruptcy distribution1,294 1,516 1,651 
Other1,417 1,741 1,741 
Other, net$13,027 $(7,463)$66,331 
v3.25.1
Net Income (Loss) Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Year ended December 31,
In thousands except per share amounts202420232022
Net income (loss) available to common stockholders$58,900 $(103,612)$(78,107)
Weighted average shares:
Basic391,709 343,059 275,178 
Effect of stock-based compensation plans5,713 — — 
Diluted397,422 343,059 275,178 
Income (loss) per share:
Basic$0.15 $(0.30)$(0.28)
Diluted$0.15 $(0.30)$(0.28)
v3.25.1
Supplemental Guarantor Information (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Subsidiary Guarantors
In thousandsDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023
Current assets$13,782 $19,850 $164,627 $143,170 
Non-current assets(1)
$516,209 $393,773 $1,483,632 $1,286,135 
Non-guarantor intercompany assets$3,144 $— $— $— 
Current liabilities$31,841 $27,836 $202,329 $198,262 
Non-current liabilities$496,976 $478,488 $260,210 $203,405 
Non-guarantor intercompany liabilities$2,642 $6,033 $1,570 $1,591 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
Schedule of Comprehensive Income (Loss)
SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2024
In thousandsCoeur Mining, Inc.Subsidiary Guarantors
Revenue$— $674,946 
Gross profit (loss)$(780)$188,232 
Net income (loss)$58,900 $122,655 
v3.25.1
Commitment and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Contract Liability
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$6,942 $7,411 $8,150 
Revenue Recognized(560)(469)(739)
Closing Balance$6,382 $6,942 $7,411 
The following table presents a roll forward of the prepayment contract liability balance:
Year Ended December 31,
In thousands202420232022
Opening Balance$55,082 $25,016 $15,016 
Additions170,000 130,066 36,020 
Revenue Recognized(182,918)(100,000)(26,020)
Closing Balance$42,164 $55,082 $25,016 
v3.25.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
Schedule of Accrued Liabilities [Table Text Block]
Accrued liabilities and other consist of the following:
In thousandsDecember 31, 2024December 31, 2023
Accrued salaries and wages$31,151 $31,722 
Flow-through share premium received853 5,563 
Deferred revenue (1)
42,863 55,547 
Income and mining taxes36,490 11,766 
Kensington royalty settlement (1)
3,750 — 
Deferred Cash Due 20259,644 — 
Accrued operating costs6,577 11,081 
Unrealized losses on derivatives70 1,981 
Taxes other than income and mining5,491 5,321 
Accrued interest payable8,122 7,957 
Operating lease liabilities11,598 9,975 
Accrued liabilities and other$156,609 $140,913 
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that total the same such amounts shown in the Consolidated Statements of Cash Flows in the years ended December 31, 2024 and 2023:
In thousandsDecember 31, 2024December 31, 2023
Cash and cash equivalents$55,087 $61,633 
Restricted cash equivalents(1)
1,787 1,745 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$56,874 $63,378 
(1) Restricted cash equivalents are included in Prepaid expenses and other and Restricted assets on the Consolidated Balance Sheet.
Year ended December 31,
202420232022
Non-cash lease obligations arising from obtaining operating lease assets$21,230 $718 $4,120 
Non-cash financing and investing activities:
Finance lease obligations$54,330 $32,978 $43,810 
Capital expenditures, not yet paid$26,515 $44,966 $33,688 
Debt for equity exchange $5,867 $76,018 $— 
Other cash flow information:
Interest paid$49,806 $41,249 $32,704 
Income and mining taxes paid$45,100 $35,000 $41,600 
v3.25.1
Summary of Significant Accounting Policies (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2024
Jan. 01, 2023
Jan. 01, 2022
Oct. 02, 2014
Business Acquisition [Line Items]              
Drilling and Related Costs Capitalized $ 16,800,000 $ 10,000,000          
Certificates of Deposit, at Carrying Value 8,500,000 9,100,000          
Inventory Write-down 3,235,000 40,247,000 $ 45,978,000        
Certificates of Deposit, at Carrying Value 8,500,000 9,100,000          
Rochester              
Business Acquisition [Line Items]              
Inventory Write-down 4,000,000            
Rochester | Cost of Sales              
Business Acquisition [Line Items]              
Inventory Write-down $ 3,200,000            
Palmarejo gold production royalty              
Business Acquisition [Line Items]              
Aggregate deposit to be received             $ 22,000,000.0
Production to be sold, percent             50.00%
Price per ounce under agreement             $ 800
Building and Building Improvements | Minimum              
Business Acquisition [Line Items]              
Property, Plant and Equipment, Useful Life 7 years            
Building and Building Improvements | Maximum              
Business Acquisition [Line Items]              
Property, Plant and Equipment, Useful Life 30 years            
Machinery and Equipment | Minimum              
Business Acquisition [Line Items]              
Property, Plant and Equipment, Useful Life 3 years            
Machinery and Equipment | Maximum              
Business Acquisition [Line Items]              
Property, Plant and Equipment, Useful Life 10 years            
Kensington              
Business Acquisition [Line Items]              
Revenue liability $ 42,164,000 $ 55,082,000 $ 25,016,000 $ 55,082,000 $ 25,016,000 $ 15,016,000  
v3.25.1
Summary of Significant Accounting Policies Summary of Unearned Income (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Oct. 02, 2014
Contract Liabilities        
Revenue Recognized $ 55,562,000 $ 25,468,000 $ 15,887,000  
Palmarejo gold production royalty        
Contract Liabilities        
Aggregate deposit to be received       $ 22,000,000.0
Price per ounce under agreement       $ 800
Production to be sold, percent       50.00%
Franco-Nevada        
Contract Liabilities        
Opening Balance 6,942,000 7,411,000 8,150,000  
Revenue Recognized (560,000) (469,000) (739,000)  
Closing Balance 6,382,000 6,942,000 7,411,000  
Kensington        
Contract Liabilities        
Opening Balance 55,082,000 25,016,000    
Additions 170,000,000 130,066,000 36,020,000  
Revenue Recognized (182,918,000) (100,000,000) (26,020,000)  
Closing Balance $ 42,164,000 $ 55,082,000 $ 25,016,000  
v3.25.1
Summary of Significant Accounting Policies - Property Plant and Equipment (Details)
Dec. 31, 2024
Minimum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 7 years
Minimum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 3 years
Maximum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 30 years
Maximum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 10 years
v3.25.1
Summary of Significant Accounting Policies - Mining Properties and Mine Development (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Drilling and Related Costs Capitalized $ 16.8 $ 10.0
v3.25.1
Summary of Significant Accounting Policies - Restricted Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Certificates of Deposit, at Carrying Value $ 8.5 $ 9.1
v3.25.1
Segment Reporting (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financial information relating to reporting segments      
Revenue $ 1,054,006 $ 821,206 $ 785,636
Amortization 124,974 99,822 111,626
Other operating expenses 99,000 [1] 96,241 80,107
Costs and Expenses 889,824 859,921 824,887
Income (loss) from operations 164,182 (38,715) (39,251)
Gain on debt extinguishment 417 3,437 0
Fair value adjustments, net, pretax 0 3,384 (66,668)
Interest expense, net (51,276) (29,099) (23,861)
Other, net 13,027 [2] (7,463) 66,331
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 126,350 (68,456) (63,449)
Income and mining tax (expense) benefit (67,450) (35,156) (14,658)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 58,900 (103,612) (78,107)
Net income (loss) 58,900 (103,612) (78,107)
Assets, Net 2,161,881 [3] 1,943,037 1,669,982
Capital expenditures 183,188 364,617 352,354
Palmarejo [Member]      
Financial information relating to reporting segments      
Amortization 44,979 35,709 35,432
Other operating expenses 8,665 [1] 8,064 4,372
Costs and Expenses 262,332 245,922 228,985
Income (loss) from operations 116,728 67,285 74,449
Gain on debt extinguishment 0 0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net 324 844 (12)
Other, net 7,074 [2] 4,590 3,204
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 124,126 72,719 77,641
Income and mining tax (expense) benefit (45,765) (26,016) (28,771)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 78,361 46,703 48,870
Assets, Net 316,232 [3] 312,879 295,715
Capital expenditures 30,621 41,766 42,648
Rochester      
Financial information relating to reporting segments      
Amortization 41,293 26,392 22,626
Other operating expenses 12,963 [1] 26,005 7,540
Costs and Expenses 213,937 224,889 199,959
Income (loss) from operations 1,875 (68,867) (70,296)
Gain on debt extinguishment 0 0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net (5,081) (1,603) (810)
Other, net (363) [2] (293) (306)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (3,569) (70,763) (71,412)
Income and mining tax (expense) benefit (1,778) (816) 876
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (5,347) (71,579) (70,536)
Assets, Net 1,227,745 [3] 1,081,442 809,116
Capital expenditures 72,676 263,401 246,360
Kensington      
Financial information relating to reporting segments      
Amortization 28,201 25,905 39,032
Other operating expenses 9,753 [1] 3,440 1,685
Costs and Expenses 201,205 189,904 203,079
Income (loss) from operations 23,924 (27,426) (586)
Gain on debt extinguishment 0 0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net (1,681) (1,744) (1,446)
Other, net (312) [2] (311) (206)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 21,931 (29,481) (2,238)
Income and mining tax (expense) benefit (576) 0 127
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 21,355 (29,481) (2,111)
Assets, Net 223,525 [3] 171,602 148,516
Capital expenditures 68,656 53,316 31,456
Wharf      
Financial information relating to reporting segments      
Amortization 6,487 6,694 8,247
Other operating expenses 4,519 [1] 4,157 1,379
Costs and Expenses 115,564 125,508 112,689
Income (loss) from operations 118,441 63,991 37,357
Gain on debt extinguishment 0 0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net (544) (329) (66)
Other, net (509) [2] (396) (62)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest 117,388 63,266 37,229
Income and mining tax (expense) benefit (10,679) (7,047) (2,868)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 106,709 56,219 34,361
Assets, Net 119,407 [3] 102,245 105,209
Capital expenditures 7,175 2,472 3,138
Silvertip [Member]      
Financial information relating to reporting segments      
Amortization 3,235 4,018 4,912
Other operating expenses 9,923 [1] 17,104 22,322
Costs and Expenses 40,490 33,373 31,862
Income (loss) from operations (40,490) (33,373) (31,862)
Gain on debt extinguishment 0 0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net (11) (63) (176)
Other, net (43) [2] (129) (354)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (40,544) (33,565) (32,392)
Income and mining tax (expense) benefit 0 0 0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (40,544) (33,565) (32,392)
Assets, Net 219,613 [3] 215,545 244,151
Capital expenditures 3,597 2,867 24,797
Other Mining Properties [Member]      
Financial information relating to reporting segments      
Amortization 779 1,104 1,377
Other operating expenses 53,177 [1] 37,471 42,809
Costs and Expenses 56,296 40,325 48,313
Income (loss) from operations (56,296) (40,325) (48,313)
Gain on debt extinguishment 417 3,437  
Fair value adjustments, net, pretax 0 3,384 (66,668)
Interest expense, net (44,283) (26,204) (21,351)
Other, net 7,180 [2] (10,924) 64,055
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest (92,982) (70,632) (72,277)
Income and mining tax (expense) benefit (8,652) (1,277) 15,978
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (101,634) (71,909) (56,299)
Assets, Net 55,359 [3] 59,324 67,275
Capital expenditures 463 795 3,955
Gold [Member]      
Financial information relating to reporting segments      
Revenue 734,861 575,677 572,877
Gold [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 190,520 155,036 157,595
Gold [Member] | Rochester      
Financial information relating to reporting segments      
Revenue 91,541 75,571 64,460
Gold [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 225,200 162,010 201,859
Gold [Member] | Wharf      
Financial information relating to reporting segments      
Revenue 227,600 183,060 148,963
Gold [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Gold [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Silver      
Financial information relating to reporting segments      
Revenue 319,145 245,529 212,759
Product, Silver | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 188,540 158,171 145,839
Product, Silver | Rochester      
Financial information relating to reporting segments      
Revenue 124,271 80,451 65,203
Product, Silver | Kensington      
Financial information relating to reporting segments      
Revenue (71) 468 634
Product, Silver | Wharf      
Financial information relating to reporting segments      
Revenue 6,405 6,439 1,083
Product, Silver | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Silver | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Metal [Member]      
Financial information relating to reporting segments      
Revenue 1,054,006 821,206 785,636
Product, Metal [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 379,060 313,207 303,434
Product, Metal [Member] | Rochester      
Financial information relating to reporting segments      
Revenue 215,812 156,022 129,663
Product, Metal [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 225,129 162,478 202,493
Product, Metal [Member] | Wharf      
Financial information relating to reporting segments      
Revenue 234,005 189,499 150,046
Product, Metal [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Metal [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product      
Financial information relating to reporting segments      
Costs applicable to sales 606,192 [4] 632,896 [4] 606,530
Product | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 195,458 [4] 194,309 182,576
Product | Rochester      
Financial information relating to reporting segments      
Costs applicable to sales 154,611 [4] 171,271 165,166
Product | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales 157,757 [4] 152,659 155,725
Product | Wharf      
Financial information relating to reporting segments      
Costs applicable to sales 98,366 [4] 114,657 103,063
Product | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 0 [4] 0 0
Product | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 0 [4] 0 0
Mineral, Exploration      
Financial information relating to reporting segments      
Costs applicable to sales 59,658 30,962 26,624
Mineral, Exploration | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 13,230 7,840 6,605
Mineral, Exploration | Rochester      
Financial information relating to reporting segments      
Costs applicable to sales 5,070 1,221 4,627
Mineral, Exploration | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales 5,494 7,900 6,637
Mineral, Exploration | Wharf      
Financial information relating to reporting segments      
Costs applicable to sales 6,192 0 0
Mineral, Exploration | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 27,332 12,251 4,628
Mineral, Exploration | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales $ 2,340 $ 1,750 $ 4,127
[1] Other operating expenses includes General and administrative and Pre-development, reclamation, and other
[2] See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
[3] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
[4] Excludes amortization.
v3.25.1
Segment Reporting (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting [Abstract]      
Assets, Net $ 2,161,881 [1] $ 1,943,037 $ 1,669,982
Cash and cash equivalents 55,087 61,633  
Other assets 84,779 76,178  
TOTAL ASSETS $ 2,301,747 $ 2,080,848  
[1] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
v3.25.1
Segment Reporting (Details 2) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 1,817,616 $ 1,688,288  
Revenues      
Revenue 1,054,006 821,206 $ 785,636
United States      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 1,312,976 1,201,988  
Revenues      
Revenue 674,946 507,999 482,202
Canada      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 237,263 229,242  
Mexico      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 267,144 256,906  
Revenues      
Revenue 379,060 313,207 $ 303,434
Other Foreign Countries [Member]      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 233 $ 152  
v3.25.1
Segment Reporting - Summary of Concentration Risk (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Concentration Risk [Line Items]      
Revenue $ 1,054,006 $ 821,206 $ 785,636
Customer Concentration Risk [Member] | RMC [Member]      
Concentration Risk [Line Items]      
Revenue 445,600 367,200 341,500
Customer Concentration Risk [Member] | Ocean Partners [Member]      
Concentration Risk [Line Items]      
Revenue 484,500 346,200 168,900
Customer Concentration Risk [Member] | Asahi Formerly Johnson Matthey [Member]      
Concentration Risk [Line Items]      
Revenue $ 104,900 $ 63,700 $ 125,300
v3.25.1
Segment Reporting - Narrative (Details) - Revenue, Product and Service Benchmark - Product Concentration Risk [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dore [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 79.00% 80.00% 74.00%
Concentrate [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 21.00% 20.00% 26.00%
v3.25.1
Receivables (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Receivables - current portion    
Accounts receivable - trade $ 7,818 $ 3,858
Refundable value added tax 12,684 15,634
Income Taxes Receivable 8,509 10,207
Derivative Asset, Current [1] 0 615
Accounts receivable - other 919 721
Receivables, net current portion 29,930 31,035
Receivables - non-current portion    
Other tax receivable [2] 5,554 9,111
Deferred cash consideration (3) [3] 834 834
Contingent consideration (4) [4] 13,195 13,195
Non-current receivables: 19,583 23,140
Total receivables $ 49,513 $ 54,175
[1] Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 13 -- Derivative Financial Instruments & Hedging Activities for additional details on the gold and silver forward hedges.
[2] Consists of exploration credit refunds at Silvertip.
[3] Represents the fair value of the contingent consideration related to the sale of La Preciosa Deferred Consideration, which included the right to an additional payment of $1.0 million on the first anniversary of initial production from any portion of the La Preciosa project. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
[4] Represents the fair value of the contingent consideration associated with the sale of Sterling/Crown exploration properties, which included the right to an additional payment of $50.0 million should the buyer, its affiliates or its successors, report gold resources in the Sterling/Crown exploration properties. The fair value of the contingent consideration was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis.
v3.25.1
Inventory and Ore on Leach Pads (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Inventory, Finished Goods, Net of Reserves $ 5,795 $ 3,606
Other Inventory, Net of Reserves 19,675 20,395
Inventory, Supplies, Net of Reserves 53,147 52,660
Inventory 78,617 76,661
Ore on Leach Pad, Current 92,724 79,400
Ore on leach pads, noncurrent 106,670 25,987
Inventory, Ore Stockpiles on Leach Pads, Gross 199,394 105,387
Long-Term Inventory Stockpile 41,718 46,702
Inventory and Ore on Leach Pads $ 319,729 $ 228,750
v3.25.1
Inventory and Ore on Leach Pads - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Inventory [Line Items]      
Inventory Write-down $ 3,235 $ 40,247 $ 45,978
Rochester      
Inventory [Line Items]      
Inventory Write-down 4,000    
Rochester | Amortization      
Inventory [Line Items]      
Inventory Write-down 800    
Rochester | Cost of Sales      
Inventory [Line Items]      
Inventory Write-down $ 3,200    
v3.25.1
Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, plant and equipment    
Operational Mining Properties Gross $ 1,502,457 $ 1,358,189
Mineral Interest 833,564 809,912
Land 9,000 8,318
Buildings and Improvements, Gross [1] 1,517,170 947,435
Property, Plant and Equipment, Gross 4,007,923 3,736,719
Accumulated depreciation and amortization [2] (2,190,307) (2,048,431)
Construction in Progress, Gross [3] 145,732 612,865
Property, plant and equipment and mining properties, net $ 1,817,616 $ 1,688,288
[1] Includes $170.1 million and $127.6 million associated with facilities and equipment assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
[2] Includes $63.3 million and $37.6 million of accumulated amortization related to assets under finance leases at December 31, 2024 and December 31, 2023, respectively.
[3] Includes $471.7 million of construction costs related to the Rochester expansion project at December 31, 2023.
v3.25.1
Property, Plant and Equipment (Details Textual) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Finance Lease, Right-of-Use Asset, before Accumulated Amortization $ 170,100 $ 127,600
Construction in Progress, Gross [1] 145,732 612,865
Finance Lease, Right-Of-Use Asset, Accumulated Depreciation $ 63,278 37,612
Rochester    
Property, Plant and Equipment [Line Items]    
Construction in Progress, Gross   $ 471,700
[1] Includes $471.7 million of construction costs related to the Rochester expansion project at December 31, 2023.
v3.25.1
Property, Plant and Equipment and Mining Properties, Net (Narrtive) (Details)
$ in Thousands
 12 Months Ended
Oct. 03, 2024
shares
Nov. 20, 2023
USD ($)
oz
$ / oz
Dec. 31, 2024
USD ($)
Jul. 08, 2024
USD ($)
Dec. 31, 2023
USD ($)
Nov. 30, 2023
USD ($)
Property, Plant and Equipment [Line Items]            
Inflation adjusted royalty payment | $ / oz   25        
Mineral Interest     $ 833,564   $ 809,912  
Accrued liabilities and other     156,609   140,913  
Other long-term liabilities     38,201   $ 29,239  
Minimum            
Property, Plant and Equipment [Line Items]            
Amount of gold equivalent ounces discovered | oz   450,000        
Maximum            
Property, Plant and Equipment [Line Items]            
Amount of gold equivalent ounces discovered | oz   2,000,000        
Mining Concessions Purchase Agreement Member            
Property, Plant and Equipment [Line Items]            
Total Consideration           $ 25,000
Cash payment at closing   $ 10,000        
Cash payment 12 months after closing           10,000
Cash payment 24 months after closing           $ 5,000
Mineral Interest       $ 23,700    
Accrued liabilities and other       9,300    
Other long-term liabilities       $ 4,400    
Company Subsidary            
Property, Plant and Equipment [Line Items]            
Common stock portion, number of Coeur stock for each share of Silvercrest common stock converted (in shares) | shares 1.6022          
Rochester            
Property, Plant and Equipment [Line Items]            
Construction in process placed into service     $ 528,000      
v3.25.1
Leases - Summary of Lease Cost and Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lease Cost      
Operating lease cost $ 12,924 $ 12,536 $ 11,939
Short-term Lease, Cost 13,784 12,223 10,573
Finance lease cost:      
Amortization of leased assets 34,424 27,985 21,571
Total finance lease cost 39,268 31,747 26,655
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases 26,709 24,759 22,511
Financing cash flows from finance leases 24,524 24,505 31,316
Finance Lease, Interest Expense $ 4,844 $ 3,762 $ 5,084
v3.25.1
Leases - Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Weighted Average Discount Rate    
Weighted-average discount rate - finance leases 6.60% 6.10%
Weighted-average discount rate - operating leases 6.20% 5.30%
Operating Leases    
Other assets, non-current $ 23,913 $ 14,064
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities and other Accrued liabilities and other
Accrued liabilities and other $ 11,598 $ 9,975
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Other long-term liabilities $ 14,797 $ 6,340
Total operating lease liabilities 26,395 16,315
Finance Leases    
Property and equipment, gross 170,144 127,591
Accumulated depreciation (63,278) (37,612)
Property and equipment, net 106,866 89,979
Debt, current 31,380 22,636
Debt, non-current 73,620 52,558
Total finance lease liabilities $ 105,000 $ 75,194
Weighted Average Remaining Lease Term    
Weighted-average remaining lease term - finance leases 2 years 1 month 13 days 2 years 10 days
Weighted-average remaining lease term - operating leases 3 years 11 months 19 days 5 years 2 months 8 days
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Debt Debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Debt Debt
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent
v3.25.1
Leases - Summary of Minimum Future Lease Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Operating leases    
2025 $ 11,841  
2026 10,196  
2027 1,261  
2028 954  
2029 952  
Thereafter 4,625  
Total 29,829  
Less: imputed interest (3,434)  
Net lease obligation 26,395 $ 16,315
Finance leases    
2025 37,227  
2026 28,132  
2027 21,225  
2028 23,040  
2029 10,684  
Thereafter 0  
Total 120,308  
Less: imputed interest (15,308)  
Net lease obligation $ 105,000 $ 75,194
v3.25.1
Debt (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Long term debt and capital lease obligations    
Current $ 31,380 $ 22,636
Debt 558,678 522,674
Senior Notes due 2029    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs 3,100 3,900
Extinguishment of debt 5,900  
Senior Notes due 2029    
Long term debt and capital lease obligations    
Debt [1]   295,115
Revolving Credit Facility    
Long term debt and capital lease obligations    
Debt 195,000 175,000 [2]
Finance Lease Obligations    
Long term debt and capital lease obligations    
Debt 73,620 52,559
Senior Notes due 2029    
Long term debt and capital lease obligations    
Current [1] 0 0
Revolving Credit Facility    
Long term debt and capital lease obligations    
Current [2] 0 0
Finance Lease Obligations    
Long term debt and capital lease obligations    
Current 31,380 22,636
Revolving Credit Facility    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs $ 3,400 $ 2,800
[1] Net of unamortized debt issuance costs of $3.1 million and $3.9 million at December 31, 2024 and December 31, 2023, respectively.
[2] Unamortized debt issuance costs of $3.4 million and $2.8 million at December 31, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets
v3.25.1
Debt (Details Textual) - USD ($)
shares in Thousands, $ in Thousands
 1 Months Ended 12 Months Ended
Feb. 21, 2024
Mar. 31, 2021
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]          
Gain on debt extinguishment     $ 417 $ 3,437 $ 0
Finance Lease Obligations     $ 54,300    
Line of Credit          
Debt Instrument [Line Items]          
Stated interest rate     7.00%    
Line of Credit | Rochester Finance Lease          
Debt Instrument [Line Items]          
Debt Instrument, Face Amount     $ 60,000    
Revolving Credit Facility | Minimum | Base Rate          
Debt Instrument [Line Items]          
Debt Instrument, Basis Spread on Variable Rate     1.00%    
Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) 1          
Debt Instrument [Line Items]          
Debt Instrument, Basis Spread on Variable Rate     2.00%    
Revolving Credit Facility | Maximum | Base Rate          
Debt Instrument [Line Items]          
Debt Instrument, Basis Spread on Variable Rate     1.75%    
Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) 1          
Debt Instrument [Line Items]          
Debt Instrument, Basis Spread on Variable Rate     2.75%    
Senior Notes due 2029          
Debt Instrument [Line Items]          
Debt Instrument, Face Amount   $ 375,000      
Proceeds from debt   $ 367,500      
Extinguishment of debt     $ 5,900    
Stated interest rate     5.125%    
Converted shares (in shares)     1,800    
Gain on debt extinguishment     $ 400    
Rochester Finance Lease | Line of Credit          
Debt Instrument [Line Items]          
Stated interest rate     5.20%    
Revolving Credit Facility          
Debt Instrument [Line Items]          
Additional increases in RCF $ 100,000        
Non-capitalized underground mine development costs 15,000        
Letters of credit outstanding, amount     $ 29,300    
Revolving Credit Facility | Line of Credit          
Debt Instrument [Line Items]          
Stated interest rate     6.70%    
Long-term debt     $ 195,000    
Amount available subject to debt covenants     $ 175,700    
Revolving Credit Facility | Credit Agreement | Line of Credit          
Debt Instrument [Line Items]          
Maximum borrowing capacity $ 400,000        
v3.25.1
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Disclosure [Abstract]      
Interest paid on Senior Notes due 2029 $ 15,086 $ 17,288 $ 19,219
Interest paid on Revolving Credit Facility 26,749 17,752 8,503
Finance Lease, Interest Expense 4,844 3,762 5,084
Amortization of Debt Issuance Costs 2,360 2,709 2,052
Interest Expense, Other 3,293 2,149 166
Interest Costs Capitalized Adjustment (1,056) (14,561) (11,163)
Interest Costs Incurred $ 51,276 $ 29,099 $ 23,861
v3.25.1
Reclamation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]      
Asset Retirement Obligation $ 260,492 $ 214,013 $ 202,431
Asset Retirement Obligation, Accretion Expense, Excluding Held for Sale Disposal Group. 16,778 16,405  
Asset Retirement Obligation, Revision of Estimate 35,455 991  
Asset Retirement Obligation, Liabilities Settled $ (5,754) $ (5,814)  
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum 6.70%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum 9.60%    
v3.25.1
Income and Mining Taxes - Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]      
United States, Income (loss) before tax $ 50,194 $ (107,021) $ (107,477)
Foreign, Income (loss) before tax (76,156) (38,565) (44,028)
Income (loss) before income and mining taxes 126,350 (68,456) (63,449)
Tax (expense) benefit $ 67,450 $ 35,156 $ 14,658
v3.25.1
Income and Mining Taxes - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Operating loss carryforwards, domestic $ 614,900,000    
Operating loss carryforwards, state and local 471,400,000    
Operating loss carryforwards subject to expiration $ 313,800,000    
Expiration term 20 years    
Operating loss carryforwards not subject to expiration $ 301,100,000    
Unrecognized tax benefits 0 $ 2,000 $ 4,000
Income-tax related interest and penalties 0 0 0
Tax (expense) benefit $ 67,450,000 $ 35,156,000 $ 14,658,000
v3.25.1
Income and Mining Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Income and mining tax (expense) benefit at statutory rate $ (28,465) $ 14,376 $ 13,249
State tax provision from continuing operations (149) 4,859 2,871
Change in valuation allowance 727 (36,778) (36,670)
Percentage depletion 6,974 5,649 3,538
Uncertain tax positions 2 6 655
U.S. and foreign permanent differences (7,765) (3,056) 365
Foreign exchange rates 2,405 1,179 (145)
Foreign inflation and indexing 2,322 3,077 2,897
Foreign tax rate differences (8,923) (3,911) (4,994)
Mining, foreign withholding, and other taxes (8,307) (1,381) 169
Effective Income Tax Rate Reconciliation, Mining Taxes 26,901 16,884 11,239
Sale of non-core assets 0 (1,322) 15,447
Enactment of 1% increase in Mexico special mining duty tax 1,696 0 0
Other, net 2,326 (970) (801)
Income and mining tax benefit (expense) $ 67,450 $ 35,156 $ 14,658
v3.25.1
Income and Mining Taxes - Income and Mining Tax (Expense) Benefit (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Examination [Line Items]      
Income and mining tax (expense) benefit $ (67,450) $ (35,156) $ (14,658)
Current Other Tax Expense (Benefit) 0 0 0
Deferred Other Tax Expense (Benefit) 0 0 0
United States      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (145) 981 (21)
Deferred Federal Income Tax Expense (Benefit) 149 305 215
United States — State mining taxes      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (11,256) (7,047) (2,936)
Deferred Federal Income Tax Expense (Benefit) (1,778) (1,076) 5,558
United States — Foreign withholding tax      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (33) (119) (300)
Canada      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (1,147) (848) (305)
Deferred Foreign Income Tax Expense (Benefit) (376) 0 254
Mexico      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (63,604) (30,222) (29,546)
Deferred Foreign Income Tax Expense (Benefit) $ 10,740 $ 2,870 $ 12,423
v3.25.1
Income and Mining Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Royalty and other long-term debt $ 5,529 $ 0
Deferred Tax Liabilities, Gross 5,529 0
Net operating loss carryforwards 304,244 302,114
Deferred Tax Assets, Mineral Properties 50,824 44,244
Property, plant, and equipment 0 12,068
Mining Royalty Tax 8,314 7,345
Capital loss carryforwards 16,910 5,167
Asset retirement obligation 49,306 45,155
Accrued expenses 18,117 25,321
Tax credit carryforwards 13,620 14,506
Deferred Tax Assets, Other 30,612 11,566
Deferred Tax Assets, Gross 491,947 467,486
Valuation allowance (490,044) (479,846)
Deferred Tax Assets, Net of Valuation Allowance 1,903 (12,360)
Deferred Tax Liabilities, Net $ 3,626 $ 12,360
v3.25.1
Income and Mining Taxes - Valuation Allowance (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Income Tax Examination [Line Items]    
Valuation allowance $ 490,044 $ 479,846
United States    
Income Tax Examination [Line Items]    
Valuation allowance 268,119 262,059
Canada    
Income Tax Examination [Line Items]    
Valuation allowance 200,319 194,727
Mexico    
Income Tax Examination [Line Items]    
Valuation allowance 408 723
New Zealand    
Income Tax Examination [Line Items]    
Valuation allowance 21,013 22,229
Other jurisdictions    
Income Tax Examination [Line Items]    
Valuation allowance $ 185 $ 108
v3.25.1
Income and Mining Taxes - Summary of Tax Credit Carryforwards (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 1,151,535
Capital losses 79,846
Foreign tax credits 10,864
United States  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 614,873
Capital losses 53,483
Foreign tax credits 10,864
Canada  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 457,894
Mexico  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 1,913
New Zealand  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 76,041
Other jurisdictions  
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 814
v3.25.1
Income and Mining Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized Tax Benefits $ 0 $ 2 $ 4
Gross increase to current period tax positions 0 0  
Gross increase to prior period tax positions 0 1  
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations $ (2) $ (3)  
v3.25.1
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 8.9    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 7 months 6 days    
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 4.5    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 3 months 18 days    
Performance shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 4.4    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 9 months 18 days    
Annual Incentive Plan and Long Term Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation expense for stock based compensation awards $ 12.0 $ 11.4 $ 10.0
v3.25.1
Stock-Based Compensation - Summary of Grants Awarded (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 3,129,255 3,251,765 2,056,121
Grant date fair value of restricted stock $ 2.66 $ 2.94 $ 4.07
Performance shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 2,076,818 1,816,429 1,325,418
Grant date fair value of restricted stock $ 2.85 $ 3.16 $ 4.53
Performance shares | 2019 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock     175,828
Performance shares | 2020 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock   26,200  
Performance shares | 2021 Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 22,351    
v3.25.1
Stock-Based Compensation - Restriced Stock Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 8.9      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 7 months 6 days      
Restricted stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted stock award vesting period 3 years      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 4.5      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 3 months 18 days      
Shares outstanding (in shares) 5,218,626 3,974,419 2,784,610 2,144,804
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 2.89 $ 3.54 $ 5.05 $ 6.60
Restricted stock 3,129,255 3,251,765 2,056,121  
Grant date fair value of restricted stock $ 2.66 $ 2.94 $ 4.07  
Vested (in shares) (1,576,652) (1,381,246) (1,114,513)  
Vested (in dollars per share) $ 4.11 $ 5.09 $ 6.08  
Canceled/Forfeited (in shares) (308,396) (680,710) (301,802)  
Canceled/Forfeited (in dollars per share) $ 2.82 $ 3.66 $ 5.74  
Performance shares        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 4.4      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 9 months 18 days      
Shares outstanding (in shares) 4,641,512 3,159,910 2,574,537 2,390,013
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 3.24 $ 4.52 $ 5.26 $ 5.80
Restricted stock 2,076,818 1,816,429 1,325,418  
Grant date fair value of restricted stock $ 2.85 $ 3.16 $ 4.53  
Vested (in shares) (379,402) (566,891) (824,064)  
Vested (in dollars per share) $ 8.30 $ 4.00 $ 5.54  
Canceled/Forfeited (in shares) (215,814) (664,165) (316,830)  
Canceled/Forfeited (in dollars per share) $ 8.55 $ 4.32 $ 6.11  
Performance shares | 2019 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock     175,828  
Performance shares | 2020 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock   26,200    
Canceled/Forfeited (in shares)   (468,393)    
Performance shares | 2021 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 22,351      
Canceled/Forfeited (in shares) (187,809)      
v3.25.1
Stock-Based Compensation - Share Appreciation Rights (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]        
Stock options outstanding (in shares) 29,130 54,330 93,988 131,253
Stock options outstanding (in dollars per share) $ 7.75 $ 7.49 $ 14.41 $ 16.91
Stock options exercised (in shares) (10,908) 0 (5,598)  
Stock options exercised (in dollars per share) $ 9.31 $ 0 $ 11.88  
Stock options expired (in shares) (14,292) (39,658) (31,667)  
Stock options expired (in dollars per share) $ 5.57 $ 23.90 $ 25.19  
v3.25.1
Stock-Based Compensation - Outstanding Stock Options (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Options exercises in period, intrinsic value $ 6,000    
Proceeds from stock options exercised 100,000    
Options, vested in period, fair value $ 0 $ 0 $ 0
Outstanding, shares 29,130    
Outstanding (in dollars per share) $ 7.75    
Outstanding, remaining term 2 years 9 months 18 days    
Outstanding, intrinsic value $ 0    
Vested and expected to vest, shares 29,130    
Vested and expected to vest (in dollars per share) $ 7.75    
Vested and expected to vest, remaining term 2 years 9 months 18 days    
Vested and expected to vest, intrinsic value $ 0    
Exercisable, shares 29,130    
Exercisable (in dollars per share) $ 7.75    
Exercisable, remaining term 2 years 9 months 18 days    
Exercisable, intrinsic value $ 0    
Zero to Ten Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 29,130    
Outstanding (in dollars per share) $ 7.75    
Outstanding, remaining term 2 years 9 months 18 days    
v3.25.1
Fair Value Measurements - Summary of Gain (Loss) Derivative Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value Disclosures [Abstract]      
Unrealized gain (loss) on equity securities $ 0 $ 3,384 $ (63,529)
Termination of gold zero cost collars 0 0 (3,139)
Fair value adjustments, net 0 3,384 (66,668)
Marketable Security, Realized Gain (Loss) $ 0 $ 0 $ 47,900
v3.25.1
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Assets   $ 3,630
Provisional metal sales contracts    
Liabilities:    
Embedded Derivative, Fair Value of Embedded Derivative Asset $ 222 318
SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   3,312
Gold Forwards    
Liabilities:    
Fair value of derivative liability   1,981
Level 1    
Assets:    
Assets   0
Level 1 | Provisional metal sales contracts    
Liabilities:    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0 0
Level 1 | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   0
Level 1 | Gold Forwards    
Liabilities:    
Fair value of derivative liability   0
Level 2    
Assets:    
Assets   3,630
Level 2 | Provisional metal sales contracts    
Liabilities:    
Embedded Derivative, Fair Value of Embedded Derivative Asset 222 318
Level 2 | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   3,312
Level 2 | Gold Forwards    
Liabilities:    
Fair value of derivative liability 0 1,981
Level 3      
Assets:    
Assets   0
Level 3   | Provisional metal sales contracts    
Liabilities:    
Embedded Derivative, Fair Value of Embedded Derivative Asset $ 0 0
Level 3   | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   0
Level 3   | Gold Forwards    
Liabilities:    
Fair value of derivative liability   $ 0
v3.25.1
Fair Value Measurements - Summary of Assets and Liabilities Carried at Book Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt $ 558,678 $ 522,674
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt 195,000 175,000 [1]
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Book value 290,058 295,115
Debt [2]   295,115
Deferred Cash Due Two Thousand Twenty Five    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Book value 9,644  
Deferred Cash Due Two Thousand Twenty Six    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Book value 4,505  
Portion at Other than Fair Value Measurement | Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 195,000 175,000
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 195,000 175,000
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 278,014 271,272
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 278,014 271,272
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0 0
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Five    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 9,673  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Five | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Five | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 9,673  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Five | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Six    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 4,533  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Six | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Six | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 4,533  
Portion at Other than Fair Value Measurement | Deferred Cash Due Two Thousand Twenty Six | Level 3      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair value of long-term debt 0  
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs 3,100 3,900
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs $ 3,400 $ 2,800
[1] Unamortized debt issuance costs of $3.4 million and $2.8 million at December 31, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets
[2] Net of unamortized debt issuance costs of $3.1 million and $3.9 million at December 31, 2024 and December 31, 2023, respectively.
v3.25.1
Derivative Financial Instruments - Summary of Provisionally Priced Sales (Details) - Gold concentrates sales agreements
$ in Thousands
Dec. 31, 2024
USD ($)
oz
$ / oz
2025  
Derivative instruments Settlement  
Notional Amount Derivative | $ $ 37,451
Derivative average price | $ / oz 2,642
Outstanding Provisionally Priced Sales Consists of Gold | oz 14,173
2026 and Thereafter  
Derivative instruments Settlement  
Notional Amount Derivative | $ $ 0
Derivative average price | $ / oz 0
Outstanding Provisionally Priced Sales Consists of Gold | oz 0
v3.25.1
Derivative Financial Instruments - Summary of Classification of Fair Value of Derivative Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Recurring    
Fair value of the derivative instruments    
Assets   $ 3,630
Level 1 | Fair Value, Recurring    
Fair value of the derivative instruments    
Assets   0
Level 2 | Fair Value, Recurring    
Fair value of the derivative instruments    
Assets   3,630
Level 3   | Fair Value, Recurring    
Fair value of the derivative instruments    
Assets   0
Gold Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative liability   1,981
Gold Forwards | Level 1 | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative liability   0
Gold Forwards | Level 2 | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative liability $ 0 1,981
Gold Forwards | Level 3   | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative liability   0
SIlver Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   3,312
SIlver Forwards | Level 1 | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   0
SIlver Forwards | Level 2 | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   3,312
SIlver Forwards | Level 3   | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   0
Provisional metal sales contracts | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 222 318
Fair Value of Derivative Liability 70  
Provisional metal sales contracts | Level 1 | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0 0
Fair Value of Derivative Liability 0  
Provisional metal sales contracts | Level 2 | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 222 318
Fair Value of Derivative Liability 70  
Provisional metal sales contracts | Level 3   | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0 0
Fair Value of Derivative Liability 0  
Silver and Gold Concentrate Sales Agreements | Prepaid expenses and other    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset $ 222 $ 318
v3.25.1
Derivative Financial Instruments - Summary of Mark-to-Market Gain (Losses) on Derivative Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Provisional gain (loss) on derivatives and commodity contracts $ (166) $ 30 $ 365
Termination of gold zero cost collars 0 0 (3,139)
Fair value adjustments, net $ (166) $ 30 $ (2,774)
v3.25.1
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative [Line Items]      
Provisional gain (loss) on derivatives and commodity contracts $ (166) $ 30 $ 365
Termination of gold zero cost collars 0 0 3,139
Unrealized gain (loss) on hedger, net of tax $ (18,507) $ (318) $ 37,445
v3.25.1
Derivative Financial Instruments - Summary of Classification of Fair Value on Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Gold Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0 $ 0
Gold Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
1981000   1,981
Gold Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 0 0
SIlver Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 0 3,312
SIlver Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
1981000 0 0
SIlver Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0 $ 0
v3.25.1
Derivative Financial Instruments - Summary of Pre-tax Gains (Losses) On Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: $ (18,507) $ (318) $ 37,445
Gains (losses) reclassified from AOCI into net income - effective portion: 17,176 (10,694) (23,890)
Gold Forwards      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: (10,886) (10,627) 42,043
Gains (losses) reclassified from AOCI into net income - effective portion: 12,867 (3,697) (28,488)
SIlver Forwards      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: (7,621) 10,309 0
Gains (losses) reclassified from AOCI into net income - effective portion: 4,309 (6,997) 0
Gold zero cost collars      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 0 0 (4,598)
Gains (losses) reclassified from AOCI into net income - effective portion: $ 0 $ 0 $ 4,598
v3.25.1
Additional Comprehensive Income (Loss) Detail - Summary of Pre-development, reclamation and other (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Care and maintenance costs $ 8,513 $ 15,616 $ 20,963
(Gain) loss on sale of assets 4,250 12,879 (640)
Accretion 16,778 16,405 14,232
Royalty settlement 7,156 [1] 0 [1] 0
Business Combination, Acquisition Related Costs 8,517 0 0
Other Operating Income (Expense), Net 6,059 9,736 6,092
Pre-development, reclamation, and other $ 51,273 $ 54,636 $ 40,647
[1] See Note 17 -- Commitments and Contingencies for additional details on the Kensington royalty settlement
v3.25.1
Additional Comprehensive Income (Loss) Detail - Summary of Other Non-Operating (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Foreign exchange gain (loss) $ 4,753 $ (459) $ (850)
Loss on dispositions 0 (12,318) 63,789
Flow-through shares 5,563 2,057 0
RMC bankruptcy distribution 1,294 1,516 1,651
Interest Income, Other 1,417 1,741 1,741
Other, net $ 13,027 [1] $ (7,463) $ 66,331
[1] See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
v3.25.1
Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 26, 2024
Earnings Per Share (Textual) [Abstract]        
Number of antidilutive shares of common stock equivalents 61,467 1,777,273 952,664  
Common stock, shares issued (in shares) 399,235,632 386,282,957   7,704,725
Common stock, par value (in dollars per share) $ 0.01 $ 0.01   $ 0.01
Net Income (Loss) Attributable to Coeur Stockholders        
NET INCOME (LOSS) $ 58,900 $ (103,612) $ (78,107)  
Weighted Average Number of Shares Outstanding        
Weighted Average Number of Shares Outstanding, Basic 391,709,000 343,059,000 275,178,000  
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 5,713,000 0 0  
Weighted Average Number of Shares Outstanding, Diluted 397,422,000 343,059,000 275,178,000  
Basic EPS        
Earnings Per Share, Basic $ 0.15 $ (0.30) $ (0.28)  
Diluted EPS        
Earnings Per Share, Diluted $ 0.15 $ (0.30) $ (0.28)  
Private Placement        
Earnings Per Share (Textual) [Abstract]        
Proceeds from (Repurchase of) Equity $ 23,700      
Proceeds from repurchase 900      
Flow-through share premium liability income recognition $ 5,600      
v3.25.1
Net Income (Loss) Per Share - Summary of Common Stock Issuance (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 26, 2024
Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]      
Common stock, shares issued (in shares) 399,235,632 7,704,725 386,282,957
Common stock, par value (in dollars per share) $ 0.01 $ 0.01 $ 0.01
Private Placement      
Subsidiary, Sale of Stock [Line Items]      
Proceeds from (Repurchase of) Equity $ 23.7    
Proceeds from repurchase 0.9    
Flow-through share premium liability income recognition $ 5.6    
v3.25.1
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]    
Current assets $ 273,099 $ 267,255
Current liabilities 330,820 289,613
Non-current liabilities 847,675 767,332
Coeur Mining, Inc.    
Condensed Financial Statements, Captions [Line Items]    
Current assets 13,782 19,850
Non-current assets(1) [1] 516,209 393,773
Non-guarantor intercompany assets 3,144 0
Current liabilities 31,841 27,836
Non-current liabilities 496,976 478,488
Non-guarantor intercompany liabilities 2,642 6,033
Subsidiary Guarantors    
Condensed Financial Statements, Captions [Line Items]    
Current assets 164,627 143,170
Non-current assets(1) [1] 1,483,632 1,286,135
Non-guarantor intercompany assets 0 0
Current liabilities 202,329 198,262
Non-current liabilities 260,210 203,405
Non-guarantor intercompany liabilities $ 1,570 $ 1,591
[1] Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
v3.25.1
Supplemental Guarantor Information Condensed Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]      
Revenue $ 1,054,006 $ 821,206 $ 785,636
Net income (loss) 58,900 $ (103,612) $ (78,107)
Coeur Mining, Inc.      
Condensed Financial Statements, Captions [Line Items]      
Revenue 0    
Gross Profit (780)    
Net income (loss) 58,900    
Subsidiary Guarantors      
Condensed Financial Statements, Captions [Line Items]      
Revenue 674,946    
Gross Profit 188,232    
Net income (loss) $ 122,655    
v3.25.1
Commitments and Contigencies (Details Textual)
ozt in Millions
 12 Months Ended 36 Months Ended
Jan. 01, 2027
Oct. 02, 2014
USD ($)
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
Dec. 31, 2026
Mar. 28, 2025
USD ($)
Apr. 03, 2024
shares
Apr. 02, 2024
USD ($)
Mar. 28, 2024
ozt
shares
Feb. 26, 2024
shares
Jan. 01, 2024
USD ($)
Jan. 01, 2023
USD ($)
Jan. 01, 2022
USD ($)
Business Acquisition [Line Items]                            
Valued-added Tax Outstanding     $ 26,000,000                      
Revenue Recognized     $ 55,562,000 $ 25,468,000 $ 15,887,000                  
Common stock, shares issued (in shares) | shares     399,235,632 386,282,957             7,704,725      
Common stock fair value     $ 3,992,000 $ 3,863,000                    
Surety Bonds Outstanding     363,700,000 324,800,000                    
Kensington Royalty Matter | Settled Litigation                            
Business Acquisition [Line Items]                            
Royalty payment | ozt                   2        
Common stock, shares issued (in shares) | shares               737,210            
Common stock fair value                 $ 3,000,000          
Kensington Royalty Matter | Settled Litigation | Forecast                            
Business Acquisition [Line Items]                            
Royalty payment rate 1.50%         1.25%                
Common stock fair value             $ 3,750,000              
Maximum | Kensington Royalty Matter | Settled Litigation                            
Business Acquisition [Line Items]                            
Common stock, shares issued (in shares) | shares                   2,455,000        
Palmarejo gold production royalty                            
Business Acquisition [Line Items]                            
Production to be sold, percent   50.00%                        
Price per ounce under agreement   $ 800                        
Aggregate deposit to be received   $ 22,000,000.0                        
Franco-Nevada Gold Stream Agreement                            
Business Acquisition [Line Items]                            
Production to be sold, percent   50.00%                        
Total consideration   $ 78,000,000                        
Payments to acquire businesses, gross   75,000,000                        
Common shares issued (value)   $ 3,000,000                        
Kensington                            
Business Acquisition [Line Items]                            
Revenue Recognized     (182,918,000) (100,000,000) (26,020,000)                  
Revenue liability     42,164,000 55,082,000 $ 25,016,000             $ 55,082,000 $ 25,016,000 $ 15,016,000
Kensington | December 2023 Prepayment                            
Business Acquisition [Line Items]                            
Revenue liability     25,000,000                      
Rochester | September 2023 Prepayment                            
Business Acquisition [Line Items]                            
Revenue liability       17,500,000                    
Rochester | June 2024 Prepayment                            
Business Acquisition [Line Items]                            
Revenue liability     17,500,000                      
Wharf | September 2023 Prepayment                            
Business Acquisition [Line Items]                            
Revenue liability       $ 12,500,000                    
Wharf | June 2024 Prepayment                            
Business Acquisition [Line Items]                            
Revenue liability     $ 12,500,000                      
v3.25.1
Commitments and Contingencies - Contract Liability (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]      
Revenue Recognized $ 55,562 $ 25,468 $ 15,887
Franco-Nevada      
Business Acquisition [Line Items]      
Opening Balance 6,942 7,411 8,150
Revenue Recognized (560) (469) (739)
Closing Balance 6,382 6,942 7,411
Kensington      
Business Acquisition [Line Items]      
Opening Balance 55,082 25,016  
Additions 170,000 130,066 36,020
Revenue Recognized (182,918) (100,000) (26,020)
Closing Balance 42,164 55,082 $ 25,016
Kensington | December 2023 Prepayment      
Business Acquisition [Line Items]      
Closing Balance 25,000    
Wharf | September 2023 Prepayment      
Business Acquisition [Line Items]      
Opening Balance 12,500    
Closing Balance   12,500  
Rochester | September 2023 Prepayment      
Business Acquisition [Line Items]      
Opening Balance $ 17,500    
Closing Balance   $ 17,500  
v3.25.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]    
Accrued Salaries, Current $ 31,151 $ 31,722
Flow-through share premium received (including over-allotment) 853 5,563
Deferred Revenue [1] 42,863 55,547
Accrued Income Taxes, Current 36,490 11,766
Royalty settlement [2] 3,750 0
Fresnillo deferred cash payment 9,644 0
Other Accrued Liabilities 6,577 11,081
Unrealized Gain (Loss) on Derivatives 70 1,981
Accrual for Taxes Other than Income Taxes, Current 5,491 5,321
Interest Payable, Current 8,122 7,957
Operating Lease, Liability, Current 11,598 9,975
Accrued liabilities and other $ 156,609 $ 140,913
[1] See Note 17 -- Commitments and Contingencies for additional details on deferred revenue liabilities.
[2] See Note 17 -- Commitments and Contingencies for additional details on the Kensington royalty settlement
v3.25.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]        
Cash and Cash Equivalents $ 55,087 $ 61,633    
Restricted Cash Equivalents [1] 1,787 1,745    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 56,874 $ 63,378 $ 63,169 $ 58,289
[1] Restricted cash equivalents are included in Prepaid expenses and other and Restricted assets on the Consolidated Balance Sheet.
v3.25.1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 2) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]      
Non-cash lease obligations arising from obtaining operating lease assets $ 21,230 $ 718 $ 4,120
Finance lease obligations 54,330 32,978 43,810
Capital expenditures, not yet paid 26,515 44,966 33,688
Debt for equity exchange 5,867 76,018 0
Interest paid 49,806 41,249 32,704
Income and mining taxes paid $ 45,100 $ 35,000 $ 41,600
v3.25.1
Subsequent Events (Details) - USD ($)
$ in Millions
Feb. 14, 2025
Oct. 03, 2024
Dec. 31, 2024
Feb. 26, 2024
Dec. 31, 2023
Subsequent Event [Line Items]          
Common Stock, Shares, Issued     399,235,632 7,704,725 386,282,957
Common Stock, Shares Authorized     600,000,000   600,000,000
Company Subsidary          
Subsequent Event [Line Items]          
Common stock portion, number of Coeur stock for each share of Silvercrest common stock converted (in shares)   1.6022      
Subsequent Event | SilverCrest          
Subsequent Event [Line Items]          
Total consideration $ 1,580        
Common Stock, Shares Authorized 900,000,000