INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)

6 Months Ended

Jun. 30, 2013

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE

Schedule of reconciliation of fair value allocation

	Three Months Ended			Six Months Ended
	June 30, 2012			June 30, 2012
	(in thousands)
Amortization of fair value increments, as reported	$	1,803		$	4,607
Adjustment	(887		)	(2,738		)
Amortization of fair value increments, as adjusted	$	916		$	1,869
Net loss, as reported	$	(21,251	)	$	(40,453	)
Adjustment	887			2,738
Net loss, as adjusted	$	(20,364	)	$	(37,715	)

Schedule of change in the entity's investment in MSC

	Six Months Ended			Year Ended
	June 30, 2013			December 31, 2012
	(in thousands)
Investment in MSC, beginning of period	$	273,948		$	—
Fair value of investment in MSC from acquisition of Minera Andes	—			262,883
Income from equity investment	1,256			25,301
Amortization of fair value increments	(3,044		)	(4,466		)
Dividend distribution	—			(9,770		)
Impairment of investment in MSC	(95,878		)	—
Investment in MSC, end of period	$	176,282		$	273,948

Summary of MSC's financial information from operations

	Three Months Ended			Three Months Ended			Six Months Ended			Period ended
	June 30, 2013			June 30, 2012			June 30, 2013			June 30, 2012
	(in thousands)
Sales - MSC 100%	$	68,556		$	56,375		$	112,369		$	96,603
Net income - MSC 100%	124			3,255			2,564			11,422
McEwen Mining’s portion - 49%	61			1,595			1,256			5,597
Net income on investment in MSC	$	61		$	1,595		$	1,256		$	5,597
Amortization of fair value increments	(1,612		)	(916		)	(3,044		)	(1,869		)
(Loss) income on investment in MSC, net of amortization	$	(1,551	)	$	679		$	(1,788	)	$	3,728