XML 43 R29.htm IDEA: XBRL DOCUMENT v3.8.0.1

Subsidiaries with material non-controlling interest

12 Months Ended

Dec. 31, 2017

Disclosure Of Subsidiaries with material non-controlling interest [Abstract]

Disclosure of subsidiaries [text block]

18. Subsidiaries with material non-controlling interest

(a) Financial information of subsidiaries that have material non-controlling interest are provided below:

		Country of  incorporation and operation		2017			2016			2015
				%			%			%
Equity interest held by non-controlling interests:
Sociedad Minera El Brocal S.A.A.		Peru			38.58			38.67			45.93
S.M.R.L. Chaupiloma Dos de Cajamarca		Peru			40.00			40.00			40.00
Minera La Zanja S.R.L.		Peru			46.94			46.94			46.94

				2017			2016			2015
				US$(000)			US$(000)			US$(000)
Accumulated balances of material non-controlling interest:
Sociedad Minera El Brocal S.A.A.		Peru			165,032			167,986			172,542
Minera La Zanja S.R.L.		Peru			48,642			55,613			53,271
S.M.R.L. Chaupiloma Dos de Cajamarca		Peru			1,693			1,906			2,357
Apu Coropuna S.R.L.		Peru			223			678			-
Other minor		Chile			-			(61)			-
					215,590			226,122			228,170
Profit (loss) allocated to material non-controlling interest:
S.M.R.L. Chaupiloma Dos de Cajamarca		Peru			5,827			6,950			9,244
Sociedad Minera El Brocal S.A.A.		Peru			4,246			(13,426)			(34,991)
Minera La Zanja S.R.L.		Peru			(6,006)			2,342			(32,486)
Apu Coropuna S.R.L.		Peru			(454)			(157)			(102)
Other minor		Chile			(1)			(31)			-
					3,612			(4,322)			(58,335)

During 2017, purchases of shares in the subsidiary Sociedad Minera El Brocal S.A.A. were made for US$621,000, which resulted in an increase in its shares and a dilution of non-controlling shareholders of 0.09%. During 2016, the Company, through the Lima Stock Exchange, made capital contributions to its subsidiary Sociedad Minera El Brocal S.A.A. for S/63.9 million (equivalent to US$18.6 million) and US$45.2 million, which resulted in an increase in its shares and a dilution of non-controlling shareholders for US$5.4 million equivalents to 7.26%.

(b) The summarized financial information of these subsidiaries, before inter-company eliminations, is presented below:

Statements of financial position as of December 31, 2017:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Other minor			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Current assets			146,865			6,640			134,758			1,440			665			290,368
Non-current assets			645,729			-			55,873			189			30			701,821
Current liabilities			(159,190)			(2,407)			(38,807)			(143)			(29)			(200,576)
Non-current liabilities			(229,709)			-			(48,201)			(740)			(2)			(278,652)
Total shareholders’ equity, net			403,695			4,233			103,623			746			664			512,961
Attributable to:
Shareholders of the parent			239,925			2,540			54,981			523			664			298,633
Non-controlling interests			165,032			1,693			48,642			223			-			215,590
			404,957			4,233			103,623			746			664			514,223

Statements of financial position as of December 31, 2016:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Other minor			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Current assets			120,291			7,439			155,659			2,301			81			285,771
Non-current assets			642,790			-			90,447			88			500			733,825
Current liabilities			(184,324)			(2,684)			(40,411)			(129)			-			(227,548)
Non-current liabilities			(168,589)			-			(89,278)			-			(2)			(257,869)
Total shareholders’ equity, net			410,168			4,755			116,417			2,260			579			534,179
Attributable to:
Shareholders of the parent			242,182			2,849			60,804			1,582			640			308,057
Non-controlling interests			167,986			1,906			55,613			678			(61)			226,122
			410,168			4,755			116,417			2,260			579			534,179

Statements of profit or loss for the year ended December 31, 2017:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Other minor			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Revenues			322,653			20,739			165,319			-			-			508,711
Cost of sales			(254,390)			-			(153,230)			-			-			(407,620)
Administrative expenses			(13,061)			(90)			(2,814)			(92)			(24)			(16,081)
Sales expenses			(10,914)			-			(881)			-			-			(11,795)
Exploration in non-operating areas			(1,975)			-			(2,871)			(680)			-			(5,526)
Other operating expense, net			(2,923)			(1)			(969)			(744)			-			(4,637)
Provision for contingencies			-			-			(1,370)			1			-			(1,369)
Impairment loss of long-lived assets			(13,573)			-			(21,620)			-			-			(35,193)
Finance income			179			7			670			-			-			856
Finance costs			(12,017)			(2)			(1,918)			(1)			-			(13,938)
Net gain (loss) for exchange difference			310			(41)			48			1			410			728
Profit (loss) before income tax			14,289			20,612			(19,636)			(1,515)			386			14,136
Income tax			(3,903)			(6,044)			6,841			-			-			(3,106)
Net profit (loss)			10,386			14,568			(12,795)			(1,515)			386			11,030
Attributable to non-controlling interests			4,246			5,827			(6,006)			(454)			(1)			3,612
Dividends paid to non-controlling interests			-			6,036			-			-			-			6,036

Statements of profit or loss for the year ended December 31, 2016:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Other minor			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Revenues			230,611			24,339			178,922			-			-			433,872
Cost of sales			(234,594)			(16)			(150,039)			-			-			(384,649)
Administrative expenses			(11,802)			(112)			(1,980)			(4)			-			(13,898)
Sales expenses			(10,650)			-			(938)			-			-			(11,588)
Exploration in non-operating areas			(1,939)			-			(4,619)			(524)			-			(7,082)
Other operating expense, net			309			11			4,237			-			(410)			4,147
Finance income			256			-			87			-			-			343
Finance costs			(12,554)			(2)			(2,614)			-			-			(15,170)
Net gain (loss) for exchange difference			(270)			(93)			65			5			-			(293)
Profit (loss) before income tax			(40,633)			24,127			23,121			(523)			(410)			5,682
Income tax			7,851			(6,761)			(18,256)			-			-			(17,166)
Net profit (loss)			(32,782)			17,366			4,865			(523)			(410)			(11,484)
Attributable to non-controlling interests			(13,426)			6,950			2,342			(157)			(31)			(4,322)
Dividends paid to non-controlling interests			-			7,400			-			-			-			7,400

Statements of profit or loss for the year ended December 31, 2015:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Total
		US$(000)			US$(000)			US$(000)			US$(000)
Revenues			171,294			32,414			161,007			364,715
Cost of sales			(204,556)			(54)			(213,372)			(417,982)
Administrative expenses			(19,168)			(106)			(2,251)			(21,525)
Sales expenses			(9,056)			-			(1,207)			(10,263)
Exploration in non-operating areas			(2,366)			-			(8,954)			(11,320)
Impairment loss of long-lived assets			-			-			(3,803)			(3,803)
Other operating expense, net			(2,657)			-			(687)			(3,344)
Finance income			154			-			16			170
Finance costs			(10,096)			(4)			(3,684)			(13,784)
Net gain (loss) for exchange difference			(3,847)			45			(1,973)			(5,775)
Profit (loss) before income tax			(80,298)			32,295			(74,908)			(122,911)
Income tax			4,109			(9,186)			5,702			625
Net profit (loss)			(76,189)			23,109			(69,206)			(122,286)
Attributable to non-controlling interests			(34,991)			9,244			(32,486)			(58,335)
Dividends paid to non-controlling interests			-			10,488			-			10,488

Statements of cash flow for the year ended December 31, 2017:

		Sociedad Minera El | Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Operating activities			60,525			15,093			139,155			(185)			214,588
Investing activities			(64,343)			-			(17,326)			-			(81,669)
Financing activities			18,096			(15,090)			(32,077)			1,477			(27,594)
Increase in cash and cash equivalents in the year			14,278			3			89,752			1,292			105,325

Statements of cash flow for the year ended December 31, 2016:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Apu Coropuna S.R.L.			Total
		US$(000)			US$(000)			US$(000)			US$(000)			US$(000)
Operating activities			(9,151)			18,178			11,839			(1,895)			18,971
Investing activities			(37,935)			-			(14,994)			-			(52,929)
Financing activities			48,021			(18,500)			-			2,717			32,238
Increase (decrease) in cash and cash equivalents in the year			935			(322)			(3,155)			822			(1,720)

Statements of cash flow for the year ended December 31, 2015:

		Sociedad Minera El Brocal S.A.A.			S.M.R.L. Chaupiloma Dos de Cajamarca			Minera La Zanja S.R.L.			Total
		US$(000)			US$(000)			US$(000)			US$(000)
Operating activities			(1,523)			26,474			30,743			55,694
Investing activities			(28,375)			-			(26,761)			(55,136)
Financing activities			31,867			(26,220)			-			5,647
Increase in cash and cash equivalents in the year			1,969			254			3,982			6,205

X

- References

No definition available.

+ Details

Name:	cik0001013131_DisclosureOfSubsidiariesWithMaterialNoncontrollingInterestAbstract
Namespace Prefix:	cik0001013131_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The disclosure of subsidiaries. [Refer: Subsidiaries [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2017-01-01
-Paragraph 17
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2017-03-01&anchor=para_17_b&doctype=Standard
-URIDate 2017-03-09

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 27
-IssueDate 2017-01-01
-Paragraph 16
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=27&date=2017-03-01&anchor=para_16_b&doctype=Standard
-URIDate 2017-03-09

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph B4
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_B4_a&doctype=Appendix&seq=2
-URIDate 2017-03-09

+ Details

Name:	ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory
Namespace Prefix:	ifrs-full_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration