FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

Disclosure of fair value measurement [text block]

15 n Fair Value Measurements

a) Assets and Liabilities Measured at Fair Value on a Recurring Basis


As at June 30, 2021	Quoted prices in active markets for identical assets	Significant other observable inputs	Significant unobservable inputs	Aggregate fair value
	(Level 1)	(Level 2)	(Level 3)
Cash and equivalents	$5,138	$—	$—	$5,138
Other investments1	377	—	—	377
Derivatives	—	50	—	50
Receivables from provisional copper and gold sales	—	282	—	282
	$5,515	$332	$—	$5,847

1 Includes equity investments in other mining companies.

b) Fair Values of Financial Assets and Liabilities


	As at June 30, 2021		As at December 31, 2020
	Carrying amount	Estimated fair value	Carrying amount	Estimated fair value
Financial assets
Other assets1	$419	$419	$571	$571
Other investments2	377	377	428	428
Derivative assets3	50	50	40	40
	$846	$846	$1,039	$1,039
Financial liabilities
Debt4	$5,152	$7,039	$5,155	$7,288

Other liabilities	422	422	382	382
	$5,574	$7,461	$5,537	$7,670

1Includes restricted cash and amounts due from our partners.

2Includes equity investments in other mining companies. Recorded at fair value. Quoted market prices are used to determine fair value.

3Primarily consists of contingent consideration received as part of the sale of Massawa and Lagunas Norte.

4Debt is generally recorded at amortized cost. The fair value of debt is primarily determined using quoted market prices. Balance includes both current and long-term portions of debt.

The Company’s valuation techniques were presented in Note 26 of the 2020 Annual Financial Statements and have been consistently applied in these interim financial statements.