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Net sales | 12 Months Ended
--- | ---
Dec. 31, 2017
Sale of goods [Line Items] |
Disclosure of revenue [text block] |
20. | Net sales
| (a) | The Group’s revenues are mostly from sales of gold and precious metals in the form of concentrates, including silver-lead, silver-gold, zinc and lead-gold-copper concentrates and ounces of gold. The table below presents the net sales to customers by geographic region and product type:
|  | 2017 |  | 2016 |  | 2015 |
|  | US$(000) |  | US$(000) |  | US$(000) |
Sales and services by geographic region: |  |  |  |  |  |  |  |  |  |
Metal and concentrates sales |  |  |  |  |  |  |  |  |  |
Peru |  |  | 591,185 |  |  | 401,372 |  |  | 345,146 |
America |  |  | 464,000 |  |  | 410,154 |  |  | 419,359 |
Europe |  |  | 91,414 |  |  | 109,788 |  |  | 60,549 |
Asia |  |  | 77,343 |  |  | 94,356 |  |  | 21,215 |
|  |  | 1,223,942 |  |  | 1,015,670 |  |  | 846,269 |
Services rendered |  |  |  |  |  |  |  |  |  |
Peru |  |  | 14,903 |  |  | 28,782 |  |  | 50,839 |
America |  |  | 14,794 |  |  | - |  |  | - |
|  |  | 29,697 |  |  | 28,782 |  |  | 50,839 |
|  |  | 1,253,639 |  |  | 1,044,452 |  |  | 897,108 |
Sale by metal: |  |  |  |  |  |  |  |  |  |
Gold |  |  | 511,434 |  |  | 440,603 |  |  | 419,541 |
Silver |  |  | 409,775 |  |  | 385,989 |  |  | 313,418 |
Copper |  |  | 268,527 |  |  | 224,649 |  |  | 131,356 |
Zinc |  |  | 188,023 |  |  | 142,425 |  |  | 102,110 |
Lead |  |  | 94,955 |  |  | 58,690 |  |  | 55,445 |
Manganese sulfate |  |  | 6,317 |  |  | 5,982 |  |  | 3,649 |
Indium |  |  | 66 |  |  | - |  |  | - |
|  |  | 1,479,097 |  |  | 1,258,338 |  |  | 1,025,519 |
Commercial deductions |  |  | (253,939) |  |  | (244,414) |  |  | (196,145) |
Adjustments to prior period liquidations |  |  | 919 |  |  | 4,611 |  |  | 7,467 |
Embedded derivatives from sale of concentrate |  |  | 8,786 |  |  | 880 |  |  | (388) |
Hedge operations |  |  | (10,921) |  |  | (3,745) |  |  | 9,816 |
|  |  | 1,223,942 |  |  | 1,015,670 |  |  | 846,269 |
Services rendered |  |  | 29,697 |  |  | 28,782 |  |  | 50,839 |
|  |  | 1,253,639 |  |  | 1,044,452 |  |  | 897,108 |
| (b) | Concentration of sales -
In 2017, the three customers with sales of more than 10 percent of total net sales represented 28, 15 and 10 percent from the total net sales of the Group (three customers by 28, 22 and 22 percent during the year 2016 and; two customers by 66 and 22 percent during the year 2015). As of December 31, 2017, 49 percent of the accounts receivable correspond to these customers (46 percent as of December 31, 2016). These customers are related to the mining business. The Group's sales of gold and concentrates are delivered to investment banks and national and international well-known companies. Some of these clients have long-term sales contracts that guarantee supplying them the production from the Group’s mines.
Sociedad Minera Cerro Verde S.A.A. [Member] |
Sale of goods [Line Items] |
Disclosure of revenue [text block] |
15. | Sales of goods
| (a) | This item is made up as follows:
|  |  | For the year ended |  | For the year ended |  | For the year ended |
|  |  | December 31, 2017 |  | December 31, 2016 |  | December 31, 2015 |
|  |  | Pounds(000) |  | US$(000) |  | Pounds(000) | US$(000) |  | Pounds(000) |  | US$(000) |
Copper in concentrate |  |  | 979,243 |  |  | 2,702,508 |  |  | 995,386 |  |  | 1,967,052 |  |  | 440,071 |  |  | 794,197 |
Copper cathode |  |  | 84,679 |  |  | 241,725 |  |  | 109,128 |  |  | 247,431 |  |  | 104,279 |  |  | 259,830 |
Other (primarily silver and molybdenum concentrate) |  |  |  |  |  | 267,033 |  |  |  |  |  | 176,357 |  |  |  |  |  | 65,343 |
Subtotal Sales |  |  |  |  |  | 3,211,266 |  |  |  |  |  | 2,390,840 |  |  |  |  |  | 1,119,370 |
Less: Royalty contributions (see Note 2(k)) |  |  |  |  |  | (8,335) |  |  |  |  |  | (6,686) |  |  |  |  |  | (3,753) |
Total net sales |  |  |  |  |  | 3,202,931 |  |  |  |  |  | 2,384,154 |  |  |  |  |  | 1,115,617 |
Sales to related parties totaled US$3.0 billion for the year ended December 31, 2017 (US$2.3 billion for the year ended December 31, 2016 and US$0.9 billion for the year ended December 31, 2015). As described in Note 2(d), the Company’s copper sales are provisionally priced at shipment. Adjustments to the provisional prices are recognized as gains and losses in sales of goods through the month of settlement. Adjustments to provisional priced copper and molybdenum sales resulted in an increase to net sales of goods totaling US$1.3 million for the year ended December 31, 2017, and an increase of US$86.3 million for the year ended December 31, 2016 and an increase of US$7.9 million for the year ended December 31, 2015.
| (b) | The following table shows net sales by geographic region based on the final destination port:
|  | For the year ended |  | For the year ended |  | For the year ended |
|  | December 31, 2017 |  | December 31, 2016 |  | December 31, 2015 |
|  | US$(000) |  | US$(000) |  | US$(000) |
Asia |  |  | 2,416,826 |  |  | 1,865,346 |  |  | 770,272 |
Europe |  |  | 314,092 |  |  | 161,844 |  |  | 65,648 |
North America |  |  | 287,174 |  |  | 213,002 |  |  | 79,244 |
South America (primarily Peru) |  |  | 193,174 |  |  | 150,648 |  |  | 204,206 |
|  |  | 3,211,266 |  |  | 2,390,840 |  |  | 1,119,370 |
Less: Royalty contributions (see Note 2(k)) |  |  | (8,335) |  |  | (6,686) |  |  | (3,753) |
Total net sales |  |  | 3,202,931 |  |  | 2,384,154 |  |  | 1,115,617 |
| (c) | Concentration of sales -
For the year ended December 31, 2017, 94% of the Company’s sales were to related entities (FMC, Sumitomo Metal Mining Company and Climax Molybdenum). For the year ended December 31, 2016 and 2015, 95% and 80%, respectively, of the Company’s sales were to these related entities.
Minera Yanacocha SRL and subsidiary [Member] |
Sale of goods [Line Items] |
Disclosure of revenue [text block] |
15. | Revenue from sales
The Company’s revenues are mainly from sales of gold ounces. The table below presents the net sales to customers by geographic region:
|  | 2017 |  | 2016 |  | 2015 |
|  | US$(000) |  | US$(000) |  | US$(000) |
Sales and services by geographic region: |  |  |  |  |  |  |  |  |  |
Metal sales |  |  |  |  |  |  |  |  |  |
Suiza |  |  | 491,887 |  |  | 558,723 |  |  | 754,335 |
America |  |  | 179,018 |  |  | 233,043 |  |  | 315,686 |
|  |  | 670,905 |  |  | 791,766 |  |  | 1,070,021 |
Royalties, note 1(a) and 21 |  |  | (20,739) |  |  | (24,339) |  |  | (32,414) |
Mining royalties to the government |  |  | (4,990) |  |  | (6,234) |  |  | (6,433) |
|  |  | 645,176 |  |  | 761,193 |  |  | 1,031,174 |

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