INVESTMENT IN MINERA SANTA CRUZ S.A. (“MSC”) - SAN JOSÉ MINE (Tables)

3 Months Ended

Mar. 31, 2016

INVESTMENT IN MINERA SANTA CRUZ S.A. (“MSC”) - SAN JOSÉ MINE

Schedule of change in the entity's investment in MSC

	Three months ended  March 31, 2016		Year ended December 31, 2015
Investment in MSC, beginning of the period	$	167,107	$	177,018
Attributable net income (loss) from MSC		4,042		(2,859)
Amortization of fair value increments		(3,682)		(10,669)
Income tax recovery		4,603		15,942
Dividend distribution received		(2,626)		(548)
Impairment of investment in MSC		—		(11,777)
Investment in MSC, end of the period	$	169,444	$	167,107

Summary of MSC's financial information from operations

	Three months ended  March 31,
	2016		2015
Minera Santa Cruz S.A. (100%)
Net Sales	$	52,072	$	45,891
Production costs applicable to sales		(37,727)		(36,863)
Net income		8,248		1,232
Portion attributable to McEwen Mining Inc. (49%)
Net income	$	4,042	$	604
Amortization of fair value increments		(3,682)		(2,687)
Income tax recovery		4,603		2,412
Income from investment in MSC, net of amortization	$	4,963	$	329