XML 253 R239.htm IDEA: XBRL DOCUMENT v3.19.1
Related parties (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions $ 413,351 $ 477,419
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 14,874 13,681
Accounts payable - Related parties (8,860) (8,147)
Accounts payable to related parties 6,014 5,534
Accounts Receivables Non Provisional Pricing [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions 67,050 2,305
Accounts Receivables Provisional Pricing [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions 365,594 409,492
Freeport Minerals Corporation [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions [1] 409,688 372,327
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 8,860 8,470
Sumitomo Metal Mining Company, Ltd. [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions [2] 12,918 19,900
Climax Molybdenum Marketing Corporation [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions [3] 10,038 19,570
Freeport-McMoRan Sales Company Inc. [Member]    
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 3,192 3,601
Minera Freeport-McMoRan South America Ltda [Member]    
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 521 1,248
Freeport Cobalt OY [Member]    
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 0 296
Minera Freeport-McMoRan South America S.A.C. [Member]    
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 0 66
PT Freeport Indonesia [Member]    
Balances payable to related parties [Abstract]    
Amounts payable, related party transactions 2,301 0
Embedded derivatives [Member]    
Balances receivable from related parties [Abstract]    
Amounts receivable, related party transactions [4] $ (19,293) $ 65,622
[1] Accounts receivable from FMC mainly correspond to sales of copper concentrate and copper cathode. The Company has a long-term agreement with FMC through which it has committed to sell between 70% and 80% of its annual copper concentrate production through December 31, 2021. Terms of the contracts are reviewed annually.
[2] The Company has a long-term agreement with Sumitomo through which it has committed to sell 21% of its annual copper concentrates production through December 31, 2021. Terms of the contracts are reviewed annually.
[3] The Company has a long-term agreement with Climax Molybdenum Marketing Corporation (a wholly owned subsidiary of FMC) through which it has committed to sell 100% of its annual molybdenum concentrate production, at a price based on the Metals Week Dealer Oxide price and under a delivery type known as CIF (cost, insurance and freight) through December 31, 2020.
[4] Reflects the embedded derivative adjustment of US$(19.3) million as of December 31, 2018, and US$65.6 million as of December 31, 2017, associated with accounts receivable from related parties (See Note 2(d) and 22).