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ASSET RETIREMENT OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2013
ASSET RETIREMENT OBLIGATIONS  
Schedule of Estimated Payments of Assets Retirement Obligations

The impact of discounting our estimated cash flows resulted in reducing the accrual for asset retirement obligations by $76.5 million and $70.7 million at December 31, 2013 and 2012, respectively. Estimated payments of asset retirement obligations as of December 31, 2013 are as follows (in thousands):

 

Year Ending
December 31,

 

 

 

2014

 

 $

2,091

 

2015

 

2,630

 

2016

 

8,072

 

2017

 

447

 

2018

 

1,036

 

Thereafter

 

145,122

 

Aggregate undiscounted asset retirement obligations

 

159,398

 

Effect of discounting

 

(76,500)

 

Total asset retirement obligations

 

82,898

 

Less: current portion

 

(2,091)

 

Asset retirement obligations

 

 $

80,807
Schedule of Activity in Asset Retirement and Mine Closing Liability

The following table presents the activity affecting the asset retirement and mine closing liability (in thousands):

 

 

 

Year ended December 31,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Beginning balance

 

  $

84,836

 

  $

72,342

 

Accretion expense

 

3,004

 

2,853

 

Payments

 

(2,242)

 

(2,842)

 

Allocation of liability associated with acquisition, mine development and change in assumptions

 

(2,700)

 

12,483

 

 

 

 

 

 

 

Ending balance

 

  $

82,898

 

  $

84,836