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Investments in associates (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Investments in associates [Line Items]

Disclosure of interests in associates [text block]

(a) This caption is made up as follows:

		Share in equity
		2017			2016			2017			2016
		%			%			US$(000)			US$(000)
Sociedad Minera Cerro Verde S.A.A.			19.584			19.584			1,124,008			1,055,488
Minera Yanacocha S.R.L.			45.95			43.65			324,861			402,866
Compañía Minera Coimolache S.A.			40.095			40.095			86,183			74,734
Other minor investments									1,835			3,519
									1,536,887			1,536,607

Disclosure of detailed information about the net share in profit loss of associates [Text Block]

(b) The table below presents the net share in profit (loss) of associates:

		2017			2016			2015
		US$(000)			US$(000)			US$(000)
Minera Yanacocha S.R.L.			(76,585)			(455,598)			(196,510)
Sociedad Minera Cerro Verde S.A.A.			68,521			66,763			6,518
Compañía Minera Coimolache S.A.			21,271			23,514			16,617
			13,207			(365,321)			(173,375)

Minera Yanacocha S.R.L. [Member]

Disclosure of Investments in associates [Line Items]

Disclosure of detailed information about financial position of associate under equity method [Text Block]

The table below presents key financial data from the financial statements of Yanacocha under IFRS:

		2017			2016
		US$(000)			US$(000)
Statements of financial position as of December 31:
Current assets			1,055,135			1,107,893
Non-current assets			964,260			937,992
Current liabilities			123,315			(135,136)
Non-current liabilities			(1,236,965)			(1,025,025)
Shareholders’ equity, reported			659,115			885,724
Groups’ interest (45.95% in 2017 and 43.65% in 2016)			302,863			386,618
Goodwill			21,998			16,248
			324,861			402,866

Disclosure of detailed information about income statement of associates [Text Block]

 

		2017			2016			2015
		US$(000)			US$(000)			US$(000)
Statements of profit or loss as of December 31,
Net sales			645,176			761,193			1,031,174
Other operating income			21,870			17,713			10,625
Costs of sales			(746,918)			(776,394)			(758,033)
Cost of other operating income			(2,062)			(2,951)			(2,524)
Operating expenses			(63,514)			(71,496)			(82,846)
Administrative expenses			(4,760)			(8,780)			(20,028)
Selling expenses			(3,921)			(3,695)			(3,534)
Impairment loss of long-lived assets			-			(889,499)			-
Finance income (costs)			(17,935)			(12,975)			(22,061)
Gain (loss) from currency exchange difference			3,636			(13,741)			(251)
Income (loss) before income tax			(168,428)			(1,000,625)			152,522
Income tax			(7,026)			(43,127)			(602,717)
Net loss reported			(175,454)			(1,043,752)			(450,195)
Group’s interest (43.65%)			(76,585)			(455,598)			(196,510)

Sociedad Minera Cerro Verde S.A.A. [Member]

Disclosure of Investments in associates [Line Items]

Disclosure of detailed information about financial position of associate under equity method [Text Block]

The table below presents the key financial data from the financial statements of Cerro Verde under IFRS:

		2017			2016
		US$(000)			US$(000)
Statements of financial position as of December 31:
Current assets			1,563,874			1,218,508
Non-current assets			6,127,133			6,417,115
Current liabilities			(510,790)			(293,631)
Non-current liabilities			(1,991,055)			(2,502,711)
Shareholders’ equity, reported			5,189,162			4,839,281
Group’s interest (19.584%)			1,016,245			947,725
Goodwill			107,763			107,763
			1,124,008			1,055,488

Disclosure of detailed information about income statement of associates [Text Block]

		2017			2016			2015
		US$(000)			US$(000)			US$(000)
Statements of profit or loss for the years ended December 31:
Revenue			3,202,931			2,384,154			1,115,617
Cost of sales			(1,768,238)			(1,553,040)			(862,004)
Sales expenses			(141,669)			(131,391)			(56,215)
Other operating expenses, net			(258,826)			(24,107)			(26,600)
Finance costs			(216,912)			(80,438)			(16,010)
Finance income			5,350			954			512
Net gain (loss) of exchange difference			13,288			7,857			(75,770)
Profit before income taxes			835,924			603,989			79,530
Income tax			(486,043)			(263,082)			(46,246)
Net profit, reported			349,881			340,907			33,284
Group’s interest (19.584%)			68,521			66,763			6,518

Compania Minera Coimolache S.A. [Member]

Disclosure of Investments in associates [Line Items]

Disclosure of detailed information about financial position of associate under equity method [Text Block]

The table below presents the key financial data from the financial statements of Coimolache under IFRS:

		2017			2016
		US$(000)			US$(000)
Statements of financial position as of December 31:
Current assets			101,668			73,480
Non-current assets			278,866			261,075
Current liabilities			(44,411)			(28,532)
Non-current liabilities			(106,332)			(102,519)
Shareholders’ equity, reported			229,791			203,504
Adjustments to conform to the accounting policies of the Group			(14,843)			(17,111)
Shareholders’ equity, adjusted			214,948			186,393
Group’s interest (40.095%)			86,183			74,734

Disclosure of detailed information about income statement of associates [Text Block]

		2017			2016			2015
		US$(000)			US$(000)			US$(000)
Statements of profit or loss for the years ended December 31:
Revenue			203,790			198,873			177,347
Cost of sales			(121,021)			(107,913)			(104,549)
Administrative expenses			(3,829)			(4,144)			(2,185)
Sales expenses			(946)			(1,128)			(1,111)
Other operating income (expenses), net			(587)			755			765
Finance income			220			38			23
Finance costs			(3,304)			(1,614)			(723)
Exchange difference			(174)			(117)			(1,300)
Profit before income taxes			74,149			84,750			68,267
Income tax			(23,362)			(27,894)			(29,861)
Net profit, reported			50,787			56,856			38,406
Adjustments to conform to the accounting policies of the Group			2,265			1,790			3,039
Net profit, adjusted			53,052			58,646			41,445
Group’s interest (40.095%)			21,271			23,514			16,617

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-Name IFRS
-Number 12
-IssueDate 2017-01-01
-Paragraph 2
-Subparagraph b
-Clause ii
-URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=12&date=2017-03-01&anchor=para_2_b_ii&doctype=Standard
-URIDate 2017-03-09

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