Segment Information (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Schedule of segment information

Segment information for the three and six months ended June 30, 2013 and 2012 was as follows:

For the three months ended June 30, 2013:

(in millions)	US Operations Molybdenum			Canadian Operations Molybdenum			Copper-Gold (Development)			Inter- segment			Total
Revenues
Molybdenum sales	$	89.3		$	23.4		$	—		$	—		$	112.7
Tolling, calcining and other	5.1			—			—			—			5.1
	94.4			23.4			—			—			117.8
Cost and expenses
Operating expenses	51.9			21.9			—			—			73.8
Selling and marketing	1.8			1.2			—			(0.3		)	2.7
Depreciation, depletion and amortization	9.2			7.9			—			—			17.1
Accretion expense	0.4			0.1			0.1			—			0.6
	63.3			31.1			0.1			(0.3		)	94.2
Segment revenue less costs and expenses	31.1			(7.7		)	(0.1		)	0.3			23.6
Other segment expenses
(Gain) loss on foreign exchange	(0.3		)	(1.1		)	6.3			—			4.9
Segment income (loss) before income and mining taxes	$	31.4		$	(6.6	)	$	(6.4	)	$	0.3		$	18.7

For the three months ended June 30, 2012:

(in millions)	US Operations Molybdenum		Canadian Operations Molybdenum			Copper-Gold (Development)			Inter- segment			Total
Revenues
Molybdenum sales	$	90.0	$	20.8		$	—		$	(1.2	)	$	109.6
Tolling, calcining and other	3.9		—			—			—			3.9
	93.9		20.8			—			(1.2		)	113.5
Cost and expenses
Operating expenses	83.2		28.5			—			(1.1		)	110.6
Selling and marketing	1.2		1.3			—			(0.3		)	2.2
Depreciation, depletion and amortization	5.5		5.7			—			—			11.2
Accretion expense	0.4		0.1			0.1			—			0.6
	90.3		35.6			0.1			(1.4		)	124.6
Segment revenue less costs and expenses	3.6		(14.8		)	(0.1		)	0.2			(11.1		)
Other segment income
Loss on foreign exchange	0.7		0.9			4.0			—			5.6
Segment income (loss) before income and mining taxes	$	2.9	$	(15.7	)	$	(4.1	)	$	0.2		$	(16.7	)

For the six months ended June 30, 2013:

(in millions)	US Operations Molybdenum		Canadian Operations Molybdenum			Copper-Gold (Development)			Inter- segment			Total
Revenues
Molybdenum sales	$	179.1	$	38.3		$	—		$	—		$	217.4
Tolling, calcining and other	9.1		—			—			—			9.1
	188.2		38.3			—			—			226.5
Cost and expenses
Operating expenses	105.3		37.1			—			—			142.4
Selling and marketing	3.5		2.0			—			(0.5		)	5.0
Depreciation, depletion and amortization	16.7		12.7			—			—			29.4
Accretion expense	0.7		0.5			0.2			—			1.4
	126.2		52.3			0.2			(0.5		)	178.2
Segment revenue less costs and expenses	62.0		(14.0		)	(0.2		)	0.5			48.3
Other segment expenses
Loss on foreign exchange	0.4		0.5			10.1			—			11.0
Segment income (loss) before income and mining taxes	$	61.6	$	(14.5	)	$	(10.3	)	$	0.5		$	37.3

For the six months ended June 30, 2012:

(in millions)	US Operations Molybdenum		Canadian Operations Molybdenum			Copper-Gold (Development)			Inter- segment			Total
Revenues
Molybdenum sales	$	174.5	$	45.9		$	—		$	(1.2	)	$	219.2
Tolling, calcining and other	7.9		—			—			—			7.9
	182.4		45.9			—			(1.2		)	227.1
Cost and expenses
Operating expenses	154.1		57.2			—			(1.1		)	210.2
Selling and marketing	3.2		1.5			—			(0.6		)	4.1
Depreciation, depletion and amortization	11.2		19.0			—			—			30.2
Accretion expense	0.8		0.2			0.1			—			1.1
	169.3		77.9			0.1			(1.7		)	245.6
Segment revenue less costs and expenses	13.1		(32.0		)	(0.1		)	0.5			(18.5		)
Other segment income
Loss on foreign exchange	0.1		—			1.0			—			1.1
Segment income (loss) before income and mining taxes	$	13.0	$	(32.0	)	$	(1.1	)	$	0.5		$	(19.6	)

Schedule of reconciliation of segment income to net income

Reconciliation of Segment Income to Net Income

(in millions)	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2013			2012			2013			2012
Segment income (loss)	$	18.7		$	(16.7	)	$	37.3		$	(19.6	)
Other expense (income)
Change in fair value of common stock purchase warrants	—			(1.9		)	—			(1.8		)
General and administrative	5.5			6.4			12.6			14.1
Exploration	0.5			0.6			0.6			1.4
Interest (income) expense, net	(0.2		)	1.3			(0.3		)	2.6
Loss on foreign exchange	29.9			2.3			43.2			0.2
Corporate depreciation	0.4			0.3			0.9			0.9
Other	(0.2		)	(0.1		)	(0.2		)	(0.4		)
Loss before income and mining taxes	(17.2		)	(25.6		)	(19.5		)	(36.6		)
Income and mining tax expense (benefit)	2.0			(10.8		)	(1.2		)	(22.9		)
Net loss	$	(19.2	)	$	(14.8	)	$	(18.3	)	$	(13.7	)

Schedule of other segment information regarding capital expenditures, assets and liabilities, including the assets and liabilities attributed to corporate operations

Other segment information regarding capital expenditures, assets and liabilities, including the assets and liabilities attributed to corporate operations, was as follows (in millions):

As of June 30, 2013	US Operations Molybdenum		Canadian Operations Molybdenum		Copper-Gold (Development)		Inter-segment		Total
Capital expenditures (1)	$	1.1	$	1.0	$	272.3	$	0.2	$	274.6
Property, plant, equipment and development	$	268.4	$	173.2	$	2,239.6	$	4.4	$	2,685.6
Assets	$	495.4	$	241.3	$	2,337.4	$	327.0	$	3,401.1
Liabilities	$	82.3	$	21.5	$	919.7	$	1,064.5	$	2,088.0

As of December 31, 2012	US Operations Molybdenum		Canadian Operations Molybdenum		Copper-Gold (Development)		Inter-segment		Total
Capital expenditures (2)	$	8.8	$	71.6	$	300.4	$	0.4	$	381.2
Property, plant, equipment and development	$	285.5	$	189.5	$	2,058.7	$	5.2	$	2,538.9
Assets	$	473.9	$	257.1	$	2,147.2	$	532.0	$	3,410.2
Liabilities	$	83.3	$	19.5	$	868.5	$	1,037.0	$	2,008.3

(1)  Capital expenditures for the six months ended June 30, 2013.

(2)  Capital expenditures for the six months ended June 30, 2012.