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Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Proceeds from sales      
Loss for the year $ 64,435 $ (327,814) $ (375,545)
Proceeds from sales 1,197,523 1,003,422 965,273
Dividends received 9,823 142,340 6,691
Value added tax recovered 102,548 117,661 81,692
Royalty received 21,565 25,961 38,983
Interest received 3,169 2,140 3,650
Payments to suppliers and third parties (872,467) (672,419) (727,017)
Payments to employees (160,891) (138,113) (175,329)
Income tax paid (38,121) (35,401) (22,330)
Payments of mining royalties (20,165) (20,052) (22,836)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Interest paid (30,402) (34,138) (21,518)
Net (increase) decrease in operating liabilities:      
Net cash and cash equivalents provided by operating activities 212,582 391,401 127,259
Investing activities      
Proceeds from collection of loan to an associate 124,800 0 0
Proceeds from sale of mining concessions, development costs, property, plant and equipment 1,962 7,180 5,481
Additions to mining concessions, development costs, property, plant and equipment (259,507) (366,834) (211,286)
Payments for acquisition of other assets (5,405) (5,222) (10,238)
Loans to associates 0 0 (124,800)
Loans to third parties 0 0 (829)
Net cash and cash equivalents used in investing activities (138,150) (364,876) (341,672)
Financing activities      
Proceeds from financial obligations 80,000 275,210 296
Proceeds from bank loans 341,215 200,500 344,503
Payments of bank loans (300,000) (442,957) (90,000)
Payments of financial obligations (32,599) (33,476) (29,891)
Dividends paid to controlling shareholders (22,099) (7,621) 0
Dividends paid to non-controlling shareholders (6,036) (7,400) (10,488)
Acquisition of non-controlling interest (621) (5,459) 0
Increase of restricted bank accounts (285) (2,087) 0
Purchase of treasury shares 0 (1,210) 0
Net cash and cash equivalents provided by (used in) financing activities 59,575 (24,500) 214,420
Increase in cash and cash equivalents for the year, net 134,007 2,025 7
Cash and cash equivalents at beginning of year 80,544 78,519 78,512
Cash and cash equivalents at year-end 214,551 80,544 78,519
Financing and investing activities not affecting cash flows:      
Changes in mine closures plans 10,593 34,532 74,907
Contingent consideration liability 1,773 2,349 6,032
Accounts receivable from sale of assets 5,371 5,204 0
Minera Yanacocha SRL and subsidiary [Member]      
Proceeds from sales      
Loss for the year (175,454) (1,043,752) (450,195)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Impairment loss 0 889,499 0
Depreciation and amortization 87,783 140,712 223,142
Deferred income tax 0 0 483,804
Unwinding of discount of the provision for reclamation 21,769 14,104 22,075
Write-off of fixed assets 1,368 14,036 2,411
Loss (gain) for fixed asset sales (603) (311) 508
Write-down of ore on leach pads to realizable value 77,385 100,179 64,497
Reversal of the write-down of ore on leach pads to realizable value (99,219) (106,103) (137,293)
Allowance for obsolescence of materials and supplies 1,804 (609) 1,049
Net (increase) decrease in operating assets:      
Trade and other receivables (7,345) (14,586) 41,842
Prepaid Income Tax (13,770) (18,175) 0
Value added tax credit 29,543 7,414 3,701
Inventories and Stockpiles and ore on leach pads 103,334 99,237 120,113
Prepaid expenses (71) 180 160
Available for sale financial assets (5,000) 0 0
Net (increase) decrease in operating liabilities:      
Trade and other payables 17,346 (10,654) (60,569)
Income tax payable 0 (12,346) (23,090)
Adjustments for provisions 77,296 91,842 (6,698)
Adjustments for reclamation liabilities paid (21,376) (10,467) (11,007)
Net cash and cash equivalents provided by operating activities 94,790 140,200 274,450
Investing activities      
Proceeds from sale of mining concessions, development costs, property, plant and equipment 2,235 471 1,116
Additions to mining concessions, development costs, property, plant and equipment (51,624) (106,908) (118,429)
Net cash and cash equivalents used in investing activities (49,389) (106,437) (117,313)
Financing activities      
Purchase of treasury shares (47,911) 0 0
Dividends declared and paid 0 (300,000) 0
Net cash and cash equivalents provided by (used in) financing activities (47,911) (300,000) 0
Increase in cash and cash equivalents for the year, net (2,510) (266,237) 157,137
Cash and cash equivalents at beginning of year 677,524 943,761 786,624
Cash and cash equivalents at year-end 675,014 677,524 943,761
Transactions with no effects in cash flows:      
Addition of asset retirement and mine closure 97,326 351,798 10,434
Sociedad Minera Cerro Verde S.A.A. [Member]      
Proceeds from sales      
Loss for the year 349,881 340,907 33,284
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Depreciation and amortization 456,467 472,997 244,477
Accretion on remediation and mine closure provision 4,595 4,391 3,985
Income tax expense 486,043 263,082 46,246
Interest paid (50,510) (64,325) (36,233)
Net loss on sale of Property, Plant and Equipment 185 982 661
Mining royalty dispute 295,773 0  
Other accounts payable 49,915 70,939 31,360
Net (increase) decrease in operating assets:      
Trade and other receivables (37,636) (161,335) (23,165)
Other accounts receivable (7,062) 2,008 54
Inventories and Stockpiles and ore on leach pads 32,101 (11,341) (194,582)
Other non-financial assets 226,969 113,355 (239,595)
Net (increase) decrease in operating liabilities:      
Provisions related to benefits to employees 33,258 27,503 (23,876)
Other provisions 70,648 (60,863) 8,535
Trade and other payables (13,663) 16,229 75,430
Income tax (282,273) (68,557) (121,027)
Net cash and cash equivalents provided by operating activities 1,614,691 945,972 (194,446)
Investing activities      
Proceeds from sale of mining concessions, development costs, property, plant and equipment 37 235 409
Additions to mining concessions, development costs, property, plant and equipment (152,769) (421,610) (1,663,738)
Stripping activity asset (153,623) (61,261) (111,819)
Purchase of intangibles 0 0 (9,509)
Other inflows (outflows) of cash, classified as investing activities 0 3,832 0
Net cash and cash equivalents used in investing activities (306,355) (478,804) (1,784,657)
Financing activities      
Proceeds from bank loans 233,333 350,000 1,896,000
Proceeds from shareholders loans 0 0 600,000
Payments of bank loans (353,333) (793,000) (528,000)
Payments of shareholders loans (606,014) 0 0
Debt issuance costs (12,085) 0 (2,356)
Amortization of leasing (161) (169) (163)
Net cash and cash equivalents provided by (used in) financing activities (738,260) (443,169) 1,965,481
Increase in cash and cash equivalents for the year, net 570,076 23,999 (13,622)
Cash and cash equivalents at beginning of year 29,951 5,952 19,574
Cash and cash equivalents at year-end 600,027 29,951 5,952
Non cash transactions      
Increasedecrease in provision for remediation and mine closure $ 3,710 $ 16,091 $ 33,803