9. INCOME TAXES

	For The Three Months Ended						For The Nine Months Ended
	March 31,			March 31,			March 31,			March 31,
	2016			2015			2016			2015
	(Amounts in thousands, except rate)						(Amounts in thousands, except rate)
Income tax benefit (expense)	$	8,262		$	(1,041	)	$	(55,655	)	$	(3,172	)
Effective tax rate	10.6		%	4.0		%	124.0		%	7.8		%

The effective tax rate for the three months ended March 31, 2016, was impacted due to the impairment charges and appreciation of the Canadian dollar. The increase in the effective tax rate for the nine months ended March 31, 2016 is primarily related to the discrete tax impacts attributable to the Company’s Andacollo transactions (Note 2), the liquidation of our Chilean subsidiary, and the impact of current period impairment charges.

As of March 31, 2016 and June 30, 2015, the Company had $17.1 million and $15.1 million of total gross unrecognized tax benefits, respectively. If recognized, these unrecognized tax benefits would positively impact the Company’s effective income tax rate.

The Company’s continuing practice is to recognize potential interest and/or penalties related to unrecognized tax benefits as part of its income tax expense. At March 31, 2016 and June 30, 2015, the amount of accrued income-tax-related interest and penalties was $5.7 million and $4.6 million, respectively.