v3.26.1
Note 16 - Properties, Plants, Equipment and Mine Development, net, and Lease Commitments
 12 Months Ended
Dec. 31, 2025
Property, Plant, and Equipment [Abstract]  
Properties, Plants, Equipment and Mine Development, net, and Lease Commitments

Note 16: Properties, Plants, Equipment and Mine Development, net, and Lease Commitments

Properties, Plants, Equipment and Mine Development

Our major components of properties, plants, equipment, and mine development are (in thousands):

 

 

December 31,

 

 

2025

 

 

2024

 

 

 

 

 

 

 

Mining properties, including asset retirement obligations

 

$

761,053

 

 

$

695,786

 

Development costs

 

 

523,775

 

 

 

476,315

 

Plants and equipment

 

 

1,377,237

 

 

 

1,289,306

 

Land

 

 

32,962

 

 

 

35,680

 

Mineral interests

 

 

828,829

 

 

 

842,431

 

Construction in progress

 

 

72,281

 

 

 

66,566

 

 

 

3,596,137

 

 

 

3,406,084

 

Less accumulated depreciation, depletion and amortization

 

 

1,465,556

 

 

 

1,339,662

 

Net carrying value

 

$

2,130,581

 

 

$

2,066,422

 

During 2025, we incurred total capital expenditures of $190.9 million. This excludes non-cash items for equipment acquired under finance leases and adjustments for asset retirement obligations, and includes acquisitions of mineral interests and land. The expenditures included $72.9 million at Lucky Friday, $58.2 million at Keno Hill, and $54.6 million at Greens Creek.

 

Mineral interests include amounts for value beyond proven and probable reserves (“VBPP”) related to mines and exploration or pre-development interests acquired by us which are not depleted until the mineralized material they relate to is converted to proven and probable reserves. As of December 31, 2025, mineral interests included VBPP assets of $388.2 million, $69.7 million, and $83.0 million, respectively, at Nevada, Greens Creek, and Keno Hill, along with various other properties. As of December 31, 2024, mineral interests included VBPP assets of $388.2 million, $83.3 million, and $95.7 million, respectively, at Nevada, Greens Creek and Keno Hill, along with various other properties.