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INCOME AND MINING TAXES (Tables)

12 Months Ended

Dec. 31, 2013

Income and mining taxes expense (recovery) as per geographic components

		Year Ended December 31,

		2013			2012		2011

Current income and mining taxes:

	Canada	$	7,934		$	8,750	$	62,382

	Mexico		29,968			33,531		3,496

	Finland		14,492			9,799		222

			52,394			52,080		66,100

Deferred income and mining taxes:

	Canada		(95,344	)		26,041		(341,038	)

	Mexico		93,665			25,284		54,996

	Finland		(14,871	)		20,820		10,269

			(16,550	)		72,145		(275,773	)

Income and mining taxes		$	35,844		$	124,225	$	(209,673	)

Reconciliation of income tax rates

		2013		2012		2011

Combined federal and composite provincial tax rates		26.3	%	26.3	%	27.8	%

Increase (decrease) in tax rates resulting from:

	Provincial mining duties	1.4		3.6		5.9

	Tax law changes	(13.6	)	–		(2.7	)

	Impact of foreign tax rates	2.4		(1.5	)	(0.2	)

	Permanent differences	(25.1	)	1.0		(1.6	)

	Valuation allowances	(0.9	)	1.2		(0.3	)

	Impact of changes in income tax rates	(0.2	)	(2.1	)	(2.0	)

Actual rate as a percentage of pre-tax income		(9.7	)%	28.5	%	26.9	%

Future income and mining tax liabilities (assets)

	Liabilities (Assets) as at December 31,

	2013			2012

Mining properties	$	808,449		$	761,508

Net operating and capital loss carryforwards		(129,019	)		(102,005	)

Mining duties		(68,728	)		(36,158	)

Reclamation provisions		(44,242	)		(42,688	)

Valuation allowance		26,860			30,570

Deferred income and mining tax liabilities	$	593,320		$	611,227

Reconciliation of the beginning and ending amount of unrecognized tax benefits

	2013		2012		2011

Unrecognized tax benefits, beginning of year	$	10,867	$	1,200	$	1,630

Additions (reductions)		–		9,667		(430	)

Unrecognized tax benefit, end of year	$	10,867	$	10,867	$	1,200

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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