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Cost of sales | 12 Months Ended
--- | ---
Dec. 31, 2018
Disclosure of cost of sales [Line Items] |
Disclosure of cost of sales [text block] |
| 21. | Cost of sales, without considering depreciation and amortization
| (a) | The cost of sales of goods is made up as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | US$(000) |  |  | US$(000) |  |  | US$(000) |
Beginning balance of finished goods and products in process, net of depreciation and amortization |  |  | 37,640 |  |  |  | 58,633 |  |  |  | 69,932 |
Cost of production |  |  |  |  |  |  |  |  |  |  |  |
Services provided by third parties |  |  | 245,705 |  |  |  | 262,195 |  |  |  | 211,325 |
Consumption of materials and supplies |  |  | 136,991 |  |  |  | 134,070 |  |  |  | 100,401 |
Direct labor |  |  | 96,612 |  |  |  | 87,886 |  |  |  | 72,344 |
Electricity and water |  |  | 51,226 |  |  |  | 44,345 |  |  |  | 41,989 |
Transport |  |  | 24,805 |  |  |  | 16,254 |  |  |  | 10,880 |
Maintenance and repair |  |  | 24,459 |  |  |  | 22,839 |  |  |  | 17,792 |
Rentals |  |  | 31,156 |  |  |  | 26,591 |  |  |  | 10,852 |
Insurances |  |  | 11,550 |  |  |  | 6,637 |  |  |  | 4,347 |
Provision (reversal) for impairment of finished goods and product in progress, note 8(c) |  |  | 4,521 |  |  |  | 2,118 |  |  |  | (7,581 | )
Cost of concentrate purchased to third parties |  |  | - |  |  |  | 439 |  |  |  | 2,958 |
Other production expenses |  |  | 10,025 |  |  |  | 10,464 |  |  |  | 9,789 |
Total cost of production of the period |  |  | 637,050 |  |  |  | 613,838 |  |  |  | 475,096 |
Final balance of products in process and finished goods, net of depreciation and amortization |  |  | (49,206 | ) |  |  | (45,038 | ) |  |  | (47,216 | )
Cost of sales of goods, without considering depreciation and amortization |  |  | 625,484 |  |  |  | 627,433 |  |  |  | 497,812 |
| (b) | The cost of services is made up as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | US$(000) |  |  | US$(000) |  |  | US$(000) |
Direct labor |  |  | 2,128 |  |  |  | 7,398 |  |  |  | 5,983 |
Consumption of materials and supplies |  |  | 675 |  |  |  | 1,026 |  |  |  | 868 |
Maintenance and repair |  |  | 543 |  |  |  | 946 |  |  |  | 217 |
Services provided by third parties |  |  | 382 |  |  |  | 1,782 |  |  |  | 1,689 |
Electricity and water |  |  | 249 |  |  |  | 586 |  |  |  | 633 |
Rentals |  |  | 92 |  |  |  | 423 |  |  |  | 480 |
Insurances |  |  | 86 |  |  |  | 246 |  |  |  | 212 |
Transport |  |  | 50 |  |  |  | 98 |  |  |  | 213 |
Other |  |  | 113 |  |  |  | 449 |  |  |  | 459 |
|  |  | 4,318 |  |  |  | 12,954 |  |  |  | 10,754 |
Sociedad Minera Cerro Verde S.A.A. [Member] |
Disclosure of cost of sales [Line Items] |
Disclosure of cost of sales [text block] |
| 15. | Cost of sales
This item is made up as follows:
|  | For the year ended December 31, 2018 |  |  | For the year ended December 31, 2017 |  |  | For the year ended December 31, 2016 |
|  | US$(000) |  |  | US$(000) |  |  | US$(000) |
Materials and supplies |  |  | 693,316 |  |  |  | 556,022 |  |  |  | 496,918 |
Depreciation and amortization |  |  | 512,298 |  |  |  | 456,467 |  |  |  | 472,997 |
Labor (a) |  |  | 357,692 |  |  |  | 286,058 |  |  |  | 215,839 |
Energy |  |  | 254,243 |  |  |  | 229,272 |  |  |  | 229,035 |
Third parties services |  |  | 159,514 |  |  |  | 144,829 |  |  |  | 100,897 |
Management Fees |  |  | 2,743 |  |  |  | 2,867 |  |  |  | 2,793 |
Change in work in process inventory |  |  | (8,513 | ) |  |  | 51,412 |  |  |  | (3,789 | )
Change in finished goods inventory |  |  | (5,723 | ) |  |  | 2,060 |  |  |  | (3,951 | )
Other costs |  |  | 45,402 |  |  |  | 39,251 |  |  |  | 42,301 |
|  |  | 2,010,972 |  |  |  | 1,768,238 |  |  |  | 1,553,040 |
| (a) | Labor includes an expense of US$60.2 million related to profit sharing for the year ended December 31, 2018 (US$86.4 million for the year ended December 31, 2017 and US$36.8 million for the year ended December 31, 2016). Additionally, it includes an expense of US$69.0 million related to the Union Agreement bonus payment obtained by workers as part of the new collective labor agreement, which is effective from September 1, 2018, through August 31, 2021.
In compliance with corporate policies, the Company recognizes administrative costs directly to cost of production (approximately U$30.7 million for the year ended December 31, 2018, US$34.4 million for the year ended December 31, 2017 and US$23.4 million for the year ended December 31, 2016). The effect of this policy is immaterial to the financial statements as a whole.
Minera Yanacocha SRL and subsidiary [Member] |
Disclosure of cost of sales [Line Items] |
Disclosure of cost of sales [text block] |
| 17. | Costs applicable to sales
This caption is made up as follows:
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | US$(000) |  |  | US$(000) |  |  | US$(000) |
Beginning balance of finished goods and in-process |  |  | 345,489 |  |  |  | 446,503 |  |  |  | 544,325 |
Beginning balance of provision for net realizable value, note 8(b) |  |  | (62,540 | ) |  |  | (84,374 | ) |  |  | (90,298 | )
Consumption of supplies |  |  | 215,863 |  |  |  | 240,881 |  |  |  | 228,376 |
Personnel expenses |  |  | 82,645 |  |  |  | 99,702 |  |  |  | 87,258 |
Other services |  |  | 43,672 |  |  |  | 66,408 |  |  |  | 73,779 |
Maintenance |  |  | 22,585 |  |  |  | 24,033 |  |  |  | 36,213 |
Power |  |  | 24,203 |  |  |  | 23,565 |  |  |  | 27,270 |
Depreciation and amortization |  |  | 156,212 |  |  |  | 87,783 |  |  |  | 140,712 |
Workers' profit participation |  |  | 3,837 |  |  |  | 1,242 |  |  |  | 12,394 |
Reclamation expenses related to leach pads, note 12(b) |  |  | 16,284 |  |  |  | 124,124 |  |  |  | 78,494 |
Ending balance of provision for net realizable value, note 8(b) |  |  | 89,127 |  |  |  | 62,540 |  |  |  | 84,374 |
Ending balance of finished goods and in-process |  |  | (341,213 | ) |  |  | (345,489 | ) |  |  | (446,503 | )
|  |  | 596,164 |  |  |  | 746,918 |  |  |  | 776,394 |

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