Derivative Financial Instruments and Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative Financial Instruments and Fair Value of Financial Instruments [Abstract]

Derivative instruments Settlement

	2012		2013		2014		Thereafter
Palmarejo gold production royalty	$	27,707	$	25,097	$	24,895	$	49,563
Average gold price in excess of minimum contractual deduction	$	496	$	502	$	498	$	492
Notional ounces		55,833		50,004		50,004		100,805
Mexican peso forward purchase contracts	$	25,500		—		—		—
Average rate (MXP/$)	$	12.4		—		—		—
Mexican peso notional amount		316,090		—		—		—
Silver ounces receivable Mandalay	$	1,535		—		—		—
Average silver forward price	$	18.42		—		—		—
Notional ounces		83,333		—		—		—
Silver concentrate sales agreements	$	6,219		—		—		—
Average silver price	$	32.74		—		—		—
Notional ounces		189,975		—		—		—
Gold concentrate sales agreements	$	16,309		—		—		—
Average gold price	$	1,681		—		—		—
Notional ounces		9,701		—		—		—
Gold put options purchased	$	2,880	$	1,800	$	720		—
Average gold strike price	$	923	$	928	$	979	$	1,010
Notional ounces		68,000		45,000		47,000		30,000
Gold call options sold	$	—	$	1,800	$	720		—
Average gold strike price	$	2,000	$	1,827	$	1,934	$	2,000
Notional ounces		14,000		45,000		47,000		30,000

Fair value of the derivative instruments

	As of December 31, 2011
	Prepaid Expenses and Other		Accrued Liabilities  and Other		Other Long- Term Liabilities		Current Portion of Royalty Obligation		Non-Current Portion of Royalty Obligation
Silver ounces receivable Mandalay	$	814	$	—	$	—	$	—	$	—
Forward foreign exchange contracts		—		3,188		—		—		—
Palmarejo gold production royalty		—		—		—		37,206		122,194
Put and call options, net		—		3,183		14,669		—		—
Concentrate sales contracts		—		825		—		—		—
	$	814	$	7,196	$	14,669	$	37,206	$	122,194

	As of December 31, 2010
	Prepaid Expenses and Other		Other Non-Current Assets		Accrued Liabilities  and Other		Other Long Term Liabilities		Current Portion of Royalty Obligation		Non-Current Portion of Royalty Obligation
Gold lease facility	$	—	$	—	$	2,213	$	—	$	—	$	—
Gold forward contract		425		—		—		—		—		—
Silver ounces receivable Mandalay		531		1,063		—		—		—		—
Forward foreign exchange contracts		328		—		323		—		—		—
Palmarejo gold production royalty		—		—		—		—		28,745		133,258
Put and call options, net		—		—		1,471		13,277		—		—
Concentrate sales contracts		1,703		—		23		—		—		—
	$	2,987	$	1,063	$	4,030	$	13,277	$	28,745	$	133,258

Gains (losses) on derivative instruments

Financial Statement Line	Derivative	Years Ended December 31,
		2011			2010			2009
Sales of metal	Concentrate sales contracts	$	2,505		$	1,636		$	1,191
Production costs applicable to sales	Forward foreign exchange contracts		383			1,638			1,474
Fair value adjustments, net	Gold lease facility		(132	)		2,885			(6,292	)
Fair value adjustments, net	Forward foreign exchange contracts		(3,192	)		(1,330	)		1,335
Fair value adjustments, net	Forward gold contract		34			425			—
Fair value adjustments, net	Silver ounces receivable		(276	)		1,594			—
Fair value adjustments, net	Palmarejo gold royalty		(40,046	)		(83,989	)		(78,014	)
Fair value adjustments, net	Franco-Nevada warrant		—			3,451			3,340
Fair value adjustments, net	Put and call options		(8,438	)		(11,795	)		(2,953	)
		$	(49,162	)	$	(85,485	)	$	(79,919	)