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

9 Months Ended

Sep. 30, 2011

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

Derivative instruments Settlement

	2011		2012		2013		Thereafter
Palmarejo gold production royalty	$	8,422	$	24,865	$	25,097	$	76,792
Average gold price in excess of minimum contractual deduction	$	485	$	497	$	502	$	493
Notional ounces		17,348		50,004		50,004		155,617
Mexican peso forward purchase contracts	$	7,800	$	16,800	$	—	$	—
Average rate (MXP/$)	$	12.49	$	11.70	$	—	$	—
Mexican peso notional amount		97,385		196,568		—		—
Silver ounces receivable from Mandalay	$	382	$	1,535	$	—	$	—
Average silver forward price	$	18.35	$	18.42	$	—	$	—
Notional ounces		20,833		83,333		—		—
Silver concentrate sales agreements	$	16,417	$	—	$	—	$	—
Average silver price	$	39.58	$	—	$	—	$	—
Notional ounces		414,767		—		—		—
Gold concentrates sales agreements	$	13,676	$	—	$	—	$	—
Average gold price	$	1,781	$	—	$	—	$	—
Notional ounces		7,679		—		—		—
Gold put options purchased	$	900	$	2,880	$	1,800	$	720
Average gold strike price	$	887	$	923	$	928	$	991
Notional ounces		15,000		68,000		45,000		77,000
Gold call options sold	$	—	$	2,160	$	1,800	$	720
Average gold strike price	$	2,000	$	1,839	$	1,827	$	1,960
Notional ounces		2,500		58,000		45,000		77,000

Fair value of the derivative instruments

	September 30, 2011
	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
Silver ounces receivable from Mandalay	$	989	$	244	$	—	$	—	$	—	$	—
Forward foreign exchange contracts		—		—		3,786		—		—		—
Palmarejo gold production royalty		—		—		—		—		39,766		139,659
Put and call options, net		—		—		5,910		27,025		—		—
Concentrate sales contracts		169		—		2,828		—		—		—
	$	1,158	$	244	$	12,524	$	27,025	$	39,766	$	139,659
	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 from 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

Gain losses on derivative instruments

		Three months ended September 30,						Nine months ended September 30,
Financial statement line	Derivative	2011			2010			2011			2010
Sales of metal	Concentrate sales contracts	$	1,466		$	(1,672	)	$	4,339		$	(1,773	)
Production costs applicable to sales	Forward foreign exchange contracts		(65	)		459			1,045			987
Fair value adjustments, net	Gold lease facility		—			(2,079	)		(132	)		(4,808	)
Fair value adjustments, net	Forward foreign exchange contracts		(4,089	)		279			(3,791	)		(913	)
Fair value adjustments, net	Forward gold contract		—			1,238			35			1,238
Fair value adjustments, net	Silver ounces receivable		(554	)		447			(90	)		447
Fair value adjustments, net	Palmarejo gold royalty		(26,464	)		(19,969	)		(46,505	)		(58,481	)
Fair value adjustments, net	Franco-Nevada warrant		—			1,118			—			3,451
Fair value adjustments, net	Put and call options		(22,244	)		(142	)		(20,568	)		(6,816	)
		$	(51,950	)	$	(20,321	)	$	(65,667	)	$	(66,668	)