Concentration of Credit Risk

3 Months Ended

Mar. 31, 2013

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Concentration of Credit Risk

TCM is exposed to counterparty risk from its cash and cash equivalent balances and its reclamation deposits held by financial institutions and governmental entities. TCM monitors its positions with, and the credit quality of, the financial institutions and companies in which it invests its cash and cash equivalents and that hold its reclamation deposits. Counterparties to cash balances and its reclamation deposits, other than balances maintained in various bank operating accounts, are US and Canadian institutions and the US and Canadian governments.

TCM manages its credit risk from its accounts receivable through its collection activities. As of March 31, 2013, TCM had five customers who owed TCM more than $3.0 million and accounted for approximately 28.8% of total accounts and other receivables outstanding. Another five customers had balances greater than $1.0 million but less than $3.0 million that accounted for approximately 14.0% of total accounts and other receivables. All of these balances were compliant with credit terms and scheduled payment dates.

TCM's maximum counterparty and credit risk exposure is the carrying value of its cash and cash equivalents and accounts receivable. The carrying amounts of accounts receivable, accounts payable, accrued liabilities and fixed-rate debt, excluding the 2017 Notes, 2018 Notes, 2019 Notes and tMEDS, as discussed in Notes 8 and 10, approximate fair value as of March 31, 2013.