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Financial risk management (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of nature and extent of risks arising from financial instruments [abstract] |
Schedule of bank promissory notes | Bank promissory notes: These are negotiable promissory notes issued by a bank payable upon maturity at the request of customers to guarantee collection of the Company. These notes are accepted based on the credit quality of the issuing banks.
Financial institution |  | Financial assets |  | Rating |  | As of December 31, 2023
|  |  |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Agricultural Bank of China |  | Bank notes |  | P-1 |  | A-1 |  | - |  | 2,061
Bank of Communications |  | Bank notes |  | P-1 |  | A-2 |  | - |  | 8,783
Bank of NingBo |  | Bank notes |  | P-2 |  | - |  | - |  | 1,065
China CITIC Bank |  | Bank notes |  | P-2 |  | A-2 |  | - |  | 35,477
China Construction Bank Corporation |  | Bank notes |  | - |  | A-1 |  | - |  | 1,802
China Everbright Bank |  | Bank notes |  | (P)P-2 |  | A-2 |  | - |  | 2,647
China Guangfa Bank |  | Bank notes |  | P-3 |  | A-3 |  | - |  | 1,245
China Merchants |  | Bank notes |  | - |  | A-2 |  | - |  | 8,661
China Minsheng Bank |  | Bank notes |  | - |  | A-3 |  | - |  | 3,097
China Zheshang Bank |  | Bank notes |  | - |  | A-3 |  | - |  | 3,167
HuaXia Bank |  | Bank notes |  | - |  | A-3 |  | - |  | 3,639
Industrial & Commercial Bank of China Limited |  | Bank notes |  | P-1 |  | A-1 |  | - |  | 8,998
Industrial Bank |  | Bank notes |  | P-1 |  | A-1+ |  | - |  | 12,177
International Bank of Macau |  | Bank notes |  | P-1 |  | - |  | F1+ |  | 4,122
Shanghai Pudong Development Bank |  | Bank notes |  | P-2 |  | A-2 |  | - |  | 20,549
Others |  | Bank notes |  | - |  | - |  | - |  | 8,441
Total |  |  |  |  |  |  |  |  |  | 125,931
Financial institution |  | Financial assets |  | Rating |  | December 31, 2022
|  |  |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Agricultural Bank of China |  | Bank notes |  | P-1 |  | A-1 |  | F1+ |  | 10,334
Bank of China |  | Bank notes |  | P-1 |  | A-1 |  | F1+ |  | 27,936
Bank of Jiujiang |  | Bank notes |  | P-2 |  | - |  | - |  | 1,964
Bank of Ningbo |  | Bank notes |  | P-2 |  | - |  | - |  | 3,148
Others |  | Bank notes |  | - |  | - |  | - |  | 1,887
Total |  |  |  |  |  |  |  |  |  | 45,269
Schedule of credit quality of financial assets | The credit quality of financial assets that are not past due or impaired can be evaluated by reference to external credit ratings (if they are available) or historical information on counterparty late payment rates:
Financial institution |  | Financial assets |  | Rating |  | As of December 31, 2023
|  |  |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Banco Santander- Santiago |  | Time deposits |  | P-1 |  | A-2 |  | F2 |  | 6,318 |
Banco Crédito e Inversiones |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 1,001 |
Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 5,014 |
Banco de Chile |  | Time deposits |  | P-1 |  | A-1 |  | - |  | 4,460 |
Scotiabank Sud Americano |  | Time deposits |  | - |  | - |  | F1+ |  | 6,752 |
Banco Crédito e Inversiones |  | Investment fund |  | AA+ |  | - |  | - |  | 5,031 |
JP Morgan US dollar Liquidity Fund Institutional |  | Investment fund |  | Aaa-mf |  | AAAm |  | AAAmmf |  | 22,845 |
Legg Mason - Western Asset Institutional cash reserves |  | Investment fund |  | - |  | AAAm |  | AAAmmf |  | 312,924 |
Total |  |  |  |  |  |  |  |  |  | 364,345 |
Banco Crédito e Inversiones |  | Time deposits |  | P-1 |  | A-2 |  | F2 |  | 74,459 |
Banco Morgan Stanley |  | Margin Call |  | P-1 |  | A-2 |  | F1 |  | 5,590 |
Banco Santander |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 100,083 |
Banco Itaú CorpBanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 372,061 |
Scotiabank Sud Americano |  | Time deposits |  | - |  | - |  | F1+ |  | 672,720 |
Sumitomo Mitsui Banking |  | Time deposits |  | P-1 |  | - |  | F1 |  | 91,884 |
Total |  |  |  |  |  |  |  |  |  | 1,316,797 |
Financial institution |  | Financial assets |  | Rating |  | As of December 31, 2022
|  |  |  | Moody´s |  | S&P |  | Fitch |  | ThUS$
Banco Crédito e Inversiones |  | Time deposits |  | - |  | A-2 |  | F2 |  | 150,578
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 284,915
Banco Santander - Santiago |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 124,689
Scotiabank Chile |  | Time deposits |  | - |  | - |  | F1+ |  | 416,026
Sumitomo Mitsui Banking |  | Time deposits |  | P-1 |  | - |  | - |  | 122,631
Banco de Chile |  | Time deposits |  | - |  | A-1 |  | - |  | 602
JP Morgan US dollar Liquidity Fund Institutional |  | Investment fund |  | Aaa-mf |  | AAAm |  | AAAmmf |  | 435,485
Legg Mason - Western Asset Institutional cash reserves |  | Investment fund |  | - |  | AAAm |  | AAAmmf |  | 590,661
Total |  |  |  |  |  |  |  |  |  | 2,125,587
Banco Crédito e Inversiones |  | Time deposits |  | - |  | A-2 |  | F2 |  | 187,707
Banco Itaú Corpbanca |  | Time deposits |  | P-2 |  | A-2 |  | - |  | 15,048
Banco Santander - Santiago |  | Time deposits |  | P-1 |  | A-2 |  | - |  | 51,444
Banco Estado |  | Time deposits |  | P-1 |  | A-1 |  | - |  | 85,055
Scotiabank Chile |  | Time deposits |  | - |  | - |  | F1+ |  | 250,362
Banco de Chile |  | Time deposits |  | - |  | A-1 |  | - |  | 150,259
Sumitomo Mitsui Banking |  | Time deposits |  | P-1 |  | - |  | - |  | 210,292
Total |  |  |  |  |  |  |  |  |  | 950,167
Schedule of derivative contracts | These derivative contracts are held with domestic and foreign banks, which have the following credit ratings as of December 31, 2023.
Financial institution |  | Financial assets |  | Rating
|  |  |  | Moody´s |  | S&P |  | Fitch
Banco Estado |  | Derivative |  | P-1 |  | - |  | -
Merrill Lynch International |  | Derivative |  | P-1 |  | A-2 |  | F1+
JP Morgan |  | Derivative |  | P-1 |  | A-2 |  | F1+
Morgan Stanley |  | Derivative |  | P-1 |  | A-2 |  | F1
The Bank of Nova Scotia |  | Derivative |  | P-1 |  | A-1 |  | F1+
Banco Itaú-Corpbanca |  | Derivative |  | P-2 |  | A-2 |  | -
Goldman Sachs |  | Derivative |  | P-1 |  | A-2 |  | F1
Schedule of cash and cash equivalents | Cash and cash equivalents are invested in highly liquid mutual funds with an AAA risk rating.
|  | Nature of undiscounted cash flows
As of December 31, 2023 |  | Carrying amount |  | Less than 1 year |  | 1 to 5 years |  | Over 5 years |  | Total
(figures expressed in millions of US dollars) |  |  |  |  |
Bank borrowings |  | 1,464.26 |  | 1,117.86 |  | 268.80 |  | 62.05 |  | 1,448.71
Unsecured obligations |  | 2,999.17 |  | 98.88 |  | 729.56 |  | 2,733.92 |  | 3,562.36
Sub total |  | 4,463.43 |  | 1,216.74 |  | 998.36 |  | 2,795.97 |  | 5,011.07
Hedging liabilities |  | 25.37 |  | 24.11 |  | 30.08 |  | 1.30 |  | 55.49
Derivative financial instruments |  | 14.81 |  | 14.81 |  | — |  | — |  | 14.81
Sub total |  | 40.18 |  | 38.92 |  | 30.08 |  | 1.30 |  | 70.30
Current and non-current lease liabilities (3) |  | 75.16 |  | 19.94 |  | 56.45 |  | 3.79 |  | 80.18
Trade accounts payable and other accounts payable |  | 449.63 |  | 449.63 |  | — |  | — |  | 449.63
Total |  | 5,028.40 |  | 1,725.23 |  | 1,084.89 |  | 2,801.06 |  | 5,611.18
(3) Leases subject to variability are not included.
|  | Nature of undiscounted cash flows
As of December 31, 2022 |  | Carrying amount |  | Less than 1 year |  | 1 to 5 years |  | Over 5 years |  | Total
(figures expressed in millions of US dollars) |  |  |  |  |
Bank borrowings |  | 330.80 |  | 144.83 |  | 220.33 |  | — |  | 365.16
Unsecured obligations |  | 2,550.60 |  | 405.17 |  | 616.66 |  | 2,935.15 |  | 3,956.98
Sub total |  | 2,881.40 |  | 550.00 |  | 836.99 |  | 2,935.15 |  | 4,322.14
Hedging liabilities |  | 62.53 |  | 40.76 |  | 20.43 |  | 12.68 |  | 73.87
Derivative financial instruments |  | 5.82 |  | 5.82 |  | — |  | — |  | 5.82
Sub total |  | 68.35 |  | 46.58 |  | 20.43 |  | 12.68 |  | 79.69
Current and non-current lease liabilities |  | 61.73 |  | 13.94 |  | 36.33 |  | 27.85 |  | 78.12
Trade accounts payable and other accounts payable |  | 374.79 |  | 374.79 |  | — |  | — |  | 374.79
Total |  | 3,386.27 |  | 985.31 |  | 893.75 |  | 2,975.68 |  | 4,854.74

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