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Investments in associates and joint venture (Tables) | 12 Months Ended
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Dec. 31, 2020
Investments in associates and joint ventures |
Schedule of interests in associates and joint ventures | (a)This caption is made up as follows:
|  | Share in equity |  |  |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | % |  | % |  | US$(000) |  | US$(000)
Associates |  |  |  |  |  |  |  |
Sociedad Minera Cerro Verde S.A.A. |  | 19.58 |  | 19.58 |  | 1,209,126 |  | 1,155,359
Minera Yanacocha S.R.L. |  | 43.65 |  | 43.65 |  | 157,835 |  | 230,000
Compañía Minera Coimolache S.A. |  | 40.10 |  | 40.10 |  | 104,833 |  | 98,426
Tinka Resources Ltd. |  | 19.30 |  | — |  | 12,862 |  | —
|  |  |  |  |  | 1,484,656 |  | 1,483,785
Joint venture (d) |  |  |  |  |  | 2,254 |  | 2,627
Other minor investments |  |  |  |  |  | 1,865 |  | 1,835
|  |  |  |  |  | 1,488,775 |  | 1,488,247
Schedule of net share in profit (loss) of investments | (b)The table below presents the net share in profit (loss) of investments:
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Associates |  |  |  |  |  |
Sociedad Minera Cerro Verde S.A.A. |  | 53,767 |  | 76,451 |  | 23,444
Compañía Minera Coimolache S.A. |  | 10,055 |  | 12,883 |  | 10,994
Minera Yanacocha S.R.L. |  | (72,219) |  | (41,580) |  | (35,582)
Tinka Resources Ltd. |  | (868) |  | — |  | —
|  | (9,265) |  | 47,754 |  | (1,144)
Joint venture |  | (252) |  | (44) |  | —
|  | (9,517) |  | 47,710 |  | (1,144)
Summary of fair values of the identifiable assets and liabilities of associates as at the date of acquisition | The fair values of the identifiable assets and liabilities of Tinka as at the date of acquisition were as follows:
|  | On acquisition
|  | US$(000)
Current assets |  | 16,548
Non-current assets |  | 53,769
Current liabilities |  | (612)
Total identifiable net assets at fair value |  | 69,705
Consideration transferred |  | 13,453
Schedule of financial position of associate under equity method | The table below presents the key financial data from the joint venture under IFRS:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Statements of financial position as of December 31: |  |  |  |
Current assets |  | 12,946 |  | 11,090
Non-current assets |  | 93,847 |  | 100,106
Liabilities |  | 87,005 |  | 88,608
Shareholders' equity, reported |  | 19,788 |  | 22,588
Group interests |  | 2,254 |  | 2,627
Statements of profit or loss for the years ended December 31: |  |  |  |
Revenue |  | 20,571 |  | 24,521
Interest income |  | — |  | 101
Interest expense |  | (5,252) |  | (5,694)
Income tax expense or income |  | 311 |  | 186
Net loss from continued operations |  | (2,800) |  | (665)
Share in results |  | (252) |  | (44)
Minera Yanacocha S.R.L. [Member] |
Investments in associates and joint ventures |
Schedule of financial position of associate under equity method | The table below presents key financial data from the financial statements of Yanacocha under IFRS:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Statements of financial position as of December 31: |  |  |  |
Current assets |  | 1,099,590 |  | 1,060,455
Non-current assets |  | 1,213,848 |  | 1,251,617
Current liabilities |  | (282,986) |  | (190,577)
Non-current liabilities |  | (1,706,066) |  | (1,631,783)
Shareholders' equity, net |  | 324,386 |  | 489,712
Groups’ interest |  | 141,594 |  | 213,759
Goodwill |  | 16,241 |  | 16,241
|  | 157,835 |  | 230,000
Schedule of statements of profit or loss |
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Statements of profit or loss for the years ended December 31: |  |  |  |  |  |
Sales of goods |  | 620,162 |  | 739,302 |  | 680,618
Other comprehensive profit (loss): |  | 123 |  | 1,246 |  | (91)
Net loss from continued operations |  | (165,449) |  | (95,257) |  | (81,517)
Share in results |  | (72,219) |  | (41,580) |  | (35,582)
Sociedad Minera Cerro Verde Saa [Member] |
Investments in associates and joint ventures |
Schedule of net share in profit (loss) of investments |
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Statements of profit or loss for the years ended December 31: |  |  |  |  |  |
Sales of goods |  | 2,538,593 |  | 2,896,894 |  | 3,061,930
Profit for the year |  | 274,544 |  | 390,377 |  | 119,710
Share in results |  | 53,767 |  | 76,451 |  | 23,444
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Cerro Verde under IFRS:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Statements of financial position as of December 31: |  |  |  |
Current assets |  | 1,754,888 |  | 1,614,928
Non-current assets |  | 6,012,571 |  | 6,194,496
Current liabilities |  | (450,680) |  | (420,786)
Non-current liabilities |  | (1,681,451) |  | (2,029,315)
Shareholders' equity, net |  | 5,635,328 |  | 5,359,323
Group’s interest |  | 1,101,363 |  | 1,047,596
Goodwill |  | 107,763 |  | 107,763
|  | 1,209,126 |  | 1,155,359
Compania Minera Coimolache S.A. [Member] |
Investments in associates and joint ventures |
Schedule of net share in profit (loss) of investments |
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Statements of profit or loss for the years ended December 31: |  |  |  |  |  |
Sales of goods |  | 203,163 |  | 241,173 |  | 225,447
Net income from continued operations |  | 22,786 |  | 28,459 |  | 25,584
Adjustments to conform to the accounting policies |  | 2,293 |  | 3,674 |  | 1,837
Net income, adjusted |  | 25,079 |  | 32,133 |  | 27,421
Share in results |  | 10,055 |  | 12,883 |  | 10,994
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Coimolache under IFRS:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Statements of financial position as of December 31: |  |  |  |
Current assets |  | 205,893 |  | 145,692
Non-current assets |  | 213,073 |  | 234,223
Current liabilities |  | (45,589) |  | (34,028)
Non-current liabilities |  | (104,873) |  | (91,069)
Shareholders' equity, net |  | 268,504 |  | 254,818
Adjustments to conform to the accounting policies of the Group |  | (7,037) |  | (9,330)
Equity, adjusted |  | 261,467 |  | 245,488
Group’s interest |  | 104,833 |  | 98,426
Tinka Resources Ltd [Member] |
Investments in associates and joint ventures |
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Tinka under IFRS:
|  | 2020
|  | US$(000)
Statements of financial position as of December 31: |  |
Current assets |  | 14,075
Non-current assets |  | 50,464
Current liabilities |  | (876)
Shareholders’ equity, net |  | 63,663
Adjustments to conform to the accounting policies of the Group |  | 2,982
Shareholders’ equity, net, adjusted |  | 66,645
Group’s interest |  | 12,862
Schedule of statements of profit or loss |
|  | 2020
|  | US$(000)
Statements of profit or loss for the years ended December 31: |  |
Sales of goods |  | —
Net loss from continued operations |  | (2,311)
Adjustments to conform to the accounting policies |  | (2,189)
Net loss, adjusted |  | (4,500)
Share in results |  | (868)

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