Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP

12 Months Ended

Dec. 31, 2018

Minera Yanacocha SRL and subsidiary [Member]

Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]

Disclosure of reconciliation between net income and partners equity determined under IFRS and U.S. GAAP [Text Block]

25.

Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP

The following is a summary of the adjustment to net income for the years ended December 31, 2018, 2017 and 2016, and to partners' equity as of December 31, 2018, 2017 and 2016 that would be required if U.S. GAAP had been applied instead of IFRS in the consolidated financial statements:

	2018			2017			2016
	US$(000)			US$(000)			US$(000)

Loss under U.S. GAAP (i)		(69,068	)		(131,243	)		(1,198,139	)
Items increasing (decreasing) reported net profit:
Impairment loss, note 24(a) and 10(b)					-			(889,499	)
Reversal of depreciation of assets impaired under IFRS, note 24(a)		320,424			294,454			101,855
Reversal of depreciation of assets impaired under USGAAP, note 24(a)		(254,006	)		(237,906	)		-
Elimination of impairment loss recorded under U.S. GAAP, note 24(a)		-			-			933,200
Stripping activity asset, note 24(c)		(18,227	)		(6,360	)		22,156
Reclamation and mine closure, note 24(d) (i)		20,537			(76,963	)		18,979
Asset retirement costs, note 24(d) (i)		(89,280	)		(35,911	)		3,909
Inventories, note 24(e)		10,217			17,169			(36,076	)
Contingencies, note 24(g)		(1,228	)		-			-
Debt instrument interest, note 24(h)		(735	)		-			-
Recognition of account receivable to tax authority		-			2,405			-
Others		(151	)		(1,100	)		(137	)

Loss under IFRS		(81,517	)		(175,455	)		(1,043,752	)

	2018			2017 (i)			2016 (i)
	US$(000)			US$(000)			US$(000)

Partners' equity under U.S. GAAP (i)		1,661,800			1,683,047			1,865,446
Items increasing (decreasing) reported Partners' equity:
Impairment loss, note 24(a)		(2,469,188	)		(2,469,188	)		(2,469,188	)
Elimination of impairment loss recorded under U.S. GAAP, note 24(a)		933,200			933,200			933,200
Reversal of depreciation of assets impaired under U.S. GAAP note 24(a)		(491,912	)		(237,906	)		-
Reversal of depreciation of assets impaired under IFRS, note 24(a)		994,684			674,260			379,806
Stripping activity asset, note 24(c)		15,773			34,000			41,069
Asset retirement cost, note 24(d) (i)		1,026			84,671			152,037
Reclamation and mine closure, note 24(d) (i)		(12,323	)		(27,225	)		18,283
Inventories, note 24(e)		(2,903	)		(13,120	)		(30,289	)
Deb instruments, note 24(h)		(42,430	)		-			-
Contingencies, note 24(g)		(1,228	)		-			-
Others		(2,776	)		(2,624	)		(4,639	)

Partners' equity under IFRS		583,723			659,115			885,725

(i)

Amounts previously reported by Newmont Mining corporation for the period ended December 31, 2017, 2016 and 2015 were revised during 2018 as a results of an error discovered concerning prior period amounts.

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

Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]

Disclosure of reconciliation between net income and partners equity determined under IFRS and U.S. GAAP [Text Block]

25.	Reconciliation between net income and shareholders' equity determined under IFRS and U.S. GAAP

The following is a summary of the main adjustments to net income for the years ended December 31, 2018, 2017 and 2016 and to shareholders' equity as of December 31, 2018, 2017 and 2016 that would be required if U.S. GAAP had been applied instead of IFRS in the financial statements:

	2018			2017			2016
	US$(000)			US$(000)			US$(000)

Net profit under IFRS		119,710			349,881			340,907

Items increasing (decreasing) reported net profit:
Stripping activity asset, net of amortization		(64,452	)		(77,361	)		36,252
Inventories valuation		(29,515	)		(28,804	)		(19,242	)
Asset retirement obligation		1,351			862			1,422
Deferred workers´ profit sharing		(7,079	)		32,349			(19,007	)
Deferred income tax		33,291			24,529			5,013
Other		(26	)		(25	)		116

Net income under U.S. GAAP		53,280			301,431			345,461

	2018			2017			2016
	US$(000)			US$(000)			US$(000)

Shareholders’ equity under IFRS		5,108,872			5,189,162			4,839,281
Items increasing (decreasing) reported shareholder’s equity:
Stripping activity asset, net of amortization		(204,887	)		(140,435	)		(63,074	)
Inventories valuation		(108,259	)		(78,744	)		(49,940	)
Asset retirement obligation		1,773			422			(440	)
Deferred workers´ profit sharing		(1,863	)		5,216			(27,133	)
Deferred income tax		101,548			68,257			43,728
Other		(334	)		(308	)		(283	)

Shareholders’ equity under U.S. GAAP		4,896,850			5,043,570			4,742,139