XML 48 R22.htm IDEA: XBRL DOCUMENT

Property, plant and equipment

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about property, plant and equipment [abstract]

Disclosure of detailed information about property, plant and equipment explanatory [Text Block]

Note 16

Property, plant and equipment

As of December 31, 2020, and December 31, 2019, the detail of property, plant and equipment is as follows:

16.1

Types of property, plant and equipment

Description of types of property, plant and equipment	As of December 31, 2020			As of December 31, 2019
	ThUS$			ThUS$
Property, plant and equipment, net
Land		23,579			23,620
Buildings		239,666			227,173
Other property, plant and equipment		35,418			32,645
Transport equipment		2,880			2,686
Supplies and accessories		4,183			4,579
Office equipment		459			420
Network and communication equipment		1,272			663
Mining assets		47,052			23,174
IT equipment		4,083			4,359
Energy generating assets		4,878			5,998
Constructions in progress		486,345			375,316
Machinery, plant and equipment		887,504			869,273
Total		1,737,319			1,569,906
Property, plant and equipment, gross
Land		23,579			23,620
Buildings		705,089			666,027
Other property, plant and equipment		234,238			257,247
Transport equipment		13,030			12,143
Supplies and accessories		26,101			25,531
Office equipment		11,607			11,441
Network and communication equipment		8,951			8,009
Mining assets		194,562			161,619
IT equipment		29,629			28,693
Energy generating assets		38,540			38,495
Constructions in progress		486,345			375,316
Machinery, plant and equipment		3,304,061			3,142,461
Total		5,075,732			4,750,602
Accumulated depreciation and value impairment of property, plant and equipment, total
Accumulated depreciation and impairment of buildings		(465,423	)		(438,854	)
Accumulated depreciation and impairment of other property, plant and equipment		(198,820	)		(224,602	)
Accumulated depreciation and impairment of transport equipment		(10,150	)		(9,457	)
Accumulated depreciation and impairment of supplies and accessories		(21,918	)		(20,952	)
Accumulated depreciation and impairment of office equipment		(11,148	)		(11,021	)
Accumulated depreciation and impairment of network and communication equipment		(7,679	)		(7,346	)
Accumulated depreciation and impairment of mining assets		(147,510	)		(138,445	)
Accumulated depreciation and impairment of IT equipment		(25,546	)		(24,334	)
Accumulated depreciation and impairment of energy generating assets		(33,662	)		(32,497	)
Accumulated depreciation and impairment of machinery, plant and equipment		(2,416,557	)		(2,273,188	)
Total		(3,338,413	)		(3,180,696	)

Description of classes of property, plant and equipment	As of December 31, 2020		As of December 31, 2019
	ThUS$		ThUS$
Property, plant and equipment, net
Pumps		28,184		32,525
Conveyor Belt		20,117		21,911
Crystallizer		22,145		24,102
Plant Equipment		173,335		170,263
Tanks		15,367		14,159
Filter		35,553		27,080
Electrical equipment/facilities		93,937		92,090
Other Property, Plant & Equipment		49,930		53,409
Site Closure		36,828		12,056
Piping		102,578		96,402
Well		226,347		238,670
Pond		41,906		41,319
Spare Parts (1)		41,277		45,287
Total		887.504		869,273

(1)

Spare parts is presented net of provision. The reconciliation of the spare parts provision as of December 31, 2020 and 2019 is as follows:

Reconciliation	As of December 31, 2020		As of December 31, 2019
	ThUS$		ThUS$
Opening balance		39,265		32,414
Increase in provisions		3,616		6,851
Closing balance		42,881		39,265

16.2

Conciliation of changes in property, plant and equipment by type:

Reconciliation of changes in property, plant and equipment by class as of December 31, 2020 and December 31, 2019:

Reconciliation of changes in property, plant and equipment by class as of December 31, 2020, gross amount	Land			Buildings		Other property, plant and equipment			Transport equipment		Supplies and accessories			Equipment office		Network and communication equipment			Mining assets		IT equipment			Energy generating assets		Assets under construction			Machinery, plant and equipment			Property, plant and equipment
	ThUS$			ThUS$		ThUS$			ThUS$		ThUS$			ThUS$		ThUS$			ThUS$		ThUS$			ThUS$		ThUS$			ThUS$			ThUS$
Opening balance		23,620			666,027		257,247			12,143		25,531			11,441		8,009			161,619		28,693			38,495		375,316			3,142,461			4,750,602
Additions		-			838		278			-		82			33		386			-		429			-		319,192			987			322,225
Disposals		-			-		(33,048	)		-		(1	)		-		-			-		-			-		-			(149	)		(33,198	)
Increase (decrease) in foreign currency translation difference		22			49		2			1		5			-		-			-		12			-		-			53			144
Reclassifications		-			32,179		9,940			886		488			133		558			32,943		548			45		(203,412	)		125,692			-
Other increases (decreases)		(27	)		5,996		(181	)		-		(4	)		-		(2	)		-		(53	)		-		(4,751	)		35,017			35,995
Decreases for classification as held for sale		(36	)		-		-			-		-			-		-			-		-			-		-			-			(36	)
Total changes		(41	)		39,062		(23,009	)		887		570			166		942			32,943		936			45		111,029			161,600			325,130
Closing balance		23,579			705,089		234,238			13,030		26,101			11,607		8,951			194,562		29,629			38,540		486,345			3,304,061			5,075,732

Reconciliation of changes in property, plant and equipment by class as of December 31, 2020, accumulated depreciation	Land		Buildings			Other property, plant and equipment			Transport equipment			Supplies and accessories			Equipment office			Network and communication equipment			Mining assets			IT equipment			Energy generating assets			Assets under construction		Machinery, plant and equipment			Property, plant and equipment
	ThUS$		ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$		ThUS$			ThUS$
Opening balance		-		(438,854	)		(224,602	)		(9,457	)		(20,952	)		(11,021	)		(7,346	)		(138,445	)		(24,334	)		(32,497	)		-		(2,273,188	)		(3,180,696	)
Changes
Disposals		-		-			33,048			-			1			-			-			-			-			-			-		148			33,197
Depreciation expense		-		(26,779	)		(7,284	)		(692	)		(966	)		(126	)		(335	)		(9,065	)		(1,242	)		(1,165	)		-		(134,230	)		(181,884	)
Impairment		-		(23	)		(21	)		-			-			-			-			-			(12	)		-			-		(9,507	)		(9,563	)
Increase (decrease) in foreign currency translation difference		-		(20	)		(2	)		(1	)		(4	)		(1	)		-			-			(10	)		-			-		(28	)		(66	)
Reclassifications		-		-			-			-			-			-			-			-			-			-			-		-			-
Other increases (decreases) (1)		-		253			41			-			3			-			2			-			52			-			-		248			599
Decreases for classification as held for sale		-		-			-			-			-			-			-			-			-			-			-		-			-
Total changes		-		(26,569	)		25,782			(693	)		(966	)		(127	)		(333	)		(9,065	)		(1,212	)		(1,165	)		-		(143,369	)		(157,717	)
Closing balance		-		(465,423	)		(198,820	)		(10,150	)		(21,918	)		(11,148	)		(7,679	)		(147,510	)		(25,546	)		(33,662	)		-		(2,416,557	)		(3,338,413	)

Reconciliation of changes in property, plant and equipment by class as of December 31, 2020, net amount	Land			Buildings			Other property, plant and equipment			Transport equipment			Supplies and accessories			Equipment office			Network and communication equipment			Mining assets			IT equipment			Energy generating assets			Assets under construction			Machinery, plant and equipment			Property, plant and equipment
	ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$
Opening balance		23,620			227,173			32,645			2,686			4,579			420			663			23,174			4,359			5,998			375,316			869,273			1,569,906
Additions		-			838			278			-			82			33			386			-			429			-			319,192			987			322,225
Disposals		-			-			-			-			-			-			-			-			-			-			-			(1	)		(1	)
Depreciation expense		-			(26,779	)		(7,284	)		(692	)		(966	)		(126	)		(335	)		(9,065	)		(1,242	)		(1,165	)		-			(134,230	)		(181,884	)
Deterioration		-			(23	)		(21	)		-			-			-			-			-			(12	)		-			-			(9,507	)		(9,563	)
Increase (decrease) in foreign currency translation difference		22			29			-			-			1			(1	)		-			-			2			-			-			25			78
Reclassifications		-			32,179			9,940			886			488			133			558			32,943			548			45			(203,412	)		125,692			-
Other increases (decreases) (1)		(27	)		6,249			(140	)		-			(1	)		-			-			-			(1	)		-			(4,751	)		35,265			36,594
Decreases for classification as held for sale (2)		(36	)		-			-			-			-			-			-			-			-			-			-			-			(36	)
Total changes		(41	)		12,493			2,773			194			(396	)		39			609			23,878			(276	)		(1,120	)		111,029			18,231			167,413
Closing balance		23,579			239,666			35,418			2,880			4,183			459			1,272			47,052			4,083			4,878			486,345			887,504			1,737,319

(1) The net balance of “Other Increases (Decreases)” corresponds to all those items that are reclassified to or from “Property, Plant and Equipment”, They can have the following origin: (i) work in progress which is expensed to profit or loss, forming part of operating costs or other expenses per function, as appropriate; (ii) the variation representing the purchase and use of materials and spare parts; (iii) projects corresponding mainly to exploration expenditures and ground studies that are reclassified to the item other non-current financial assets; (iv) software that is reclassified to “Intangibles (v) Provisions related to the investment plan and assets related to closing the site.

(2) The Company classifies as non-current held for sale property, plant and equipment (disposal group) that, at the closing date of the financial statements, is subject to a commitment for sale or where the sales process has been initiated and where the sale is expected to occur within twelve months of that date, is classified by the Company as non-current assets held for sale. These assets or disposal groups are valued at the lower of carrying amount or the estimated sales value less the costs to sell and stop being amortized from the moment they are classified as non-current assets held for sale.

Reconciliation of changes in property, plant and equipment by class as of December 31, 2019, gross amount	Land			Buildings			Other property, plant and equipment			Transport equipment			Supplies and accessories			Equipment office			Network and communication equipment		Mining assets		IT equipment			Energy generating assets		Assets under construction			Machinery, plant and equipment			Property, plant and equipment
	ThUS$			ThUS$			ThUS$			ThUS$			ThUS$ $			ThUS$			ThUS$		ThUS$		ThUS$			ThUS$		ThUS$			ThUS$			ThUS$
Opening balance		24,695			648,719			245,731			11,668			24,456			11,377			7,505		132,309		29,955			36,930		207,830			3,068,862			4,450,037
Additions		-			290			332			-			37			43			159		-		492			-		314,236			6,077			321,666
Disposals		-			-			(858	)		-			-			-			-		-		(3	)		-		-			(17	)		(878	)
Increase (decrease) in foreign currency translation difference		(35	)		(72	)		(4	)		(2	)		(9	)		(3	)		-		-		(6	)		-		-			(72	)		(203	)
Reclassifications		132			18,526			12,456			477			745			-			89		16,901		1,289			1,565		(140,104	)		88,088			164
Other increases (decreases)		-			-			(410	)		-			302			24			256		12,409		(3,034	)		-		(6,646	)		(20,477	)		(17,576	)
Decreases for classification as held for sale		(1,172	)		(1,436	)		-			-			-			-			-		-		-			-		-			-			(2,608	)
Total changes		(1,075	)		17,308			11,516			475			1,075			64			504		29,310		(1,262	)		1,565		167,486			73,599			300,565
Closing balance		23,620			666,027			257,247			12,143			25,531			11,441			8,009		161,619		28,693			38,495		375,316			3,142,461			4,750,602

Reconciliation of changes in property, plant and equipment by class as of December 31, 2019, accumulated depreciation	Land		Buildings			Other property, plant and equipment			Transport equipment			Supplies and accessories			Equipment office			Network and communication equipment			Mining assets			IT equipment			Energy generating assets			Assets under construction		Machinery, plant and equipment			Property, plant and equipment
	ThUS$		ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$		ThUS$			ThUS$
Opening balance		-		(409,911	)		(217,556	)		(8,776	)		(19,734	)		(10,864	)		(6,813	)		(120,808	)		(24,975	)		(30,813	)		-		(2,144,964	)		(2,995,214	)
Changes
Disposals		-		-			858			-			-			-			-			-			1			-			-		-			859
Depreciation expense		-		(29,000	)		(8,013	)		(683	)		(1,144	)		(161	)		(426	)		(7,033	)		(1,158	)		(1,676	)		-		(138,999	)		(188,293	)
Impairment		-		(49	)		-			-			-			-			-			-			-			-			-		-			(49	)
Increase (decrease) in foreign currency translation difference		-		28			3			1			7			1			-			-			5			-			-		34			79
Reclassifications		-		7			(6	)		1			6			-			1			-			(5	)		-			-		(207	)		(203	)
Other increases (decreases) (1)		-		(209	)		112			-			(87	)		3			(108	)		(10,604	)		1,798			(8	)		-		10,948			1,845
Decreases for classification as held for sale		-		280			-			-			-			-			-			-			-			-			-		-			280
Total changes		-		(28,943	)		(7,046	)		(681	)		(1,218	)		(157	)		(533	)		(17,637	)		641			(1,684	)		-		(128,224	)		(185,482	)
Closing balance		-		(438,854	)		(224,602	)		(9,457	)		(20,952	)		(11,021	)		(7,346	)		(138,445	)		(24,334	)		(32,497	)		-		(2,273,188	)		(3,180,696	)

Reconciliation of changes in property, plant and equipment by class as of December 31, 2019, net amount	Land			Buildings			Other property, plant and equipment			Transport equipment			Supplies and accessories			Equipment office			Network and communication equipment			Mining assets			IT equipment			Energy generating assets			Assets under construction			Machinery, plant and equipment			Property, plant and equipment
	ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$			ThUS$
Opening balance		24,695			238,808			28,175			2,892			4,722			513			692			11,501			4,980			6,117			207,830			923,898			1,454,823
Additions		-			290			332			-			37			43			159			-			492			-			314,236			6,077			321,666
Disposals		-			-			-			-			-			-			-			-			(2	)		-			-			(17	)		(19	)
Depreciation expense		-			(29,000	)		(8,013	)		(683	)		(1,144	)		(161	)		(426	)		(7,033	)		(1,158	)		(1,676	)		-			(138,999	)		(188,293	)
Impairment		-			(49	)		-			-			-			-			-			-			-			-			-			-			(49	)
Increase (decrease) in foreign currency translation difference		(35	)		(44	)		(1	)		(1	)		(2	)		(2	)		-			-			(1	)		-			-			(38	)		(124	)
Reclassifications		132			18,533			12,450			478			751			-			90			16,901			1,284			1,565			(140,104	)		87,881			(39	)
Other increases (decreases) (1)		-			(209	)		(298	)		-			215			27			148			1,805			(1,236	)		(8	)		(6,646	)		(9,529	)		(15,731	)
Decreases for classification as held for sale (2)		(1,172	)		(1,156	)		-			-			-			-			-			-			-			-			-			-			(2,328	)
Total changes		(1,075	)		(11,635	)		4,470			(206	)		(143	)		(93	)		(29	)		11,673			(621	)		(119	)		167,486			(54,625	)		115,083
Closing balance		23,620			227,173			32,645			2,686			4,579			420			663			23,174			4,359			5,998			375,316			869,273			1,569,906

(1) The net balance of “Other increases (Decreases)” corresponds to all those items that are reclassified to or from property, plant and equipment, They can have the following origin: (i) work in progress which is expensed to profit or loss, forming part of operating costs or other expenses per function, as appropriate;, (ii) the variation representing the purchase and use of materials and spare parts; (iii) projects corresponding mainly to exploration expenditures and ground studies that are reclassified to the item other non-current financial assets; (iv) software that is reclassified to “Intangibles”, (v) Assets related to closing the site.

These assets or disposal groups are valued at the lower of carrying amount or the estimated sales value less the costs to sell and stop being amortized from the moment they are classified as non-current assets held for sale.

16.3	Detail of property, plant and equipment pledged as guarantee

There are no restrictions in title or guarantees for compliance with obligations that affect property, plant and equipment.

16.4

Impairment of assets

As indicated in Note 3.16, the recoverable amounts of property, plant and equipment are evaluated when there is evidence that the asset may be impaired. The impairment effects for the periods ended December 31, 2020 and 2019 is ThUS$ 9,563 and ThUS$ 49 respectively.

16.5

Cost of capitalized interest, property, plant and equipment

The cost of interest is recognized by applying an average or average weighted interest rate for all financing costs incurred by the Company to the final monthly balances for works underway and complies with the requirements of IAS 23.

Financing costs are not activated for periods that exceed the normal term for acquisition, construction or installation of the property; such is the case for delays, interruptions or temporary suspension of the project due to technical, financial or other problems that make it impossible to leave the property in usable conditions.

The rates and costs for capitalized interest of property, plant and equipment are detailed as follows:

Costs of capitalized interest	As of December 31, 2020			As of December 31, 2019
	ThUS$			ThUS$
Capitalized interest rate		4	%		4	%
Amount of costs for interest capitalized in ThUS$		8,462			7,841