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v3.21.1

Financial - risk management objectives and policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure of financial risk management objectives and policies [Line Items] |
Schedule of foreign-currency exchange rates risk | A table showing the effect on results of a reasonable change in foreign-currency exchange rates is presented below, with all other variables kept constant:
|  | Exchange-rate |  | Effect on profit (loss)
|  | increase/decrease |  | before income tax
|  |  |  | US$(000)
2020 |  |  |  |
Exchange rate |  | 10 | % | 9,282
Exchange rate |  | (10) | % | (9,282)
2019 |  |  |  |
Exchange rate |  | 10 | % | 4,053
Exchange rate |  | (10) | % | (3,545)
2018 |  |  |  |
Exchange rate |  | 10 | % | 1,695
Exchange rate |  | (10) | % | (1,681)
Schedule of interest rates risk | A table showing the effect in profit or loss of the variations of interest rates:
|  |  |  | Effect on profit
|  | Increase/decrease of |  | (loss) before
|  | LIBOR |  | income tax
|  | (percentage rates) |  | US$(000)
2020 |  |  |  |
Interest rate |  | 10 | % | (81)
Interest rate |  | (10) | % | 81
2019 |  |  |  |
Interest rate |  | 10 | % | (306)
Interest rate |  | (10) | % | 306
2018 |  |  |  |
Interest rate |  | 10 | % | (277)
Interest rate |  | (10) | % | 277
Schedule of financial liabilities by remaining maturity | An analysis of the Group’s financial liabilities classified according to their aging is presented below, based on undiscounted contractual payments:
|  | Less than |  | Between 1 |  | Between 2 |  | More than 5 |  |
|  | 1 year |  | and 2 years |  | and 5 years |  | years |  | Total
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000)
As of December 31, 2020- |  |  |  |  |  |  |  |  |  |
Bank loans – capital |  | 65,793 |  | — |  | — |  | — |  | 65,793
Bank loans – interest |  | 1,156 |  | — |  | — |  | — |  | 1,156
Trade and other payables |  | 167,852 |  | — |  | — |  | — |  | 167,852
Financial obligation – capital |  | 21,587 |  | 175,932 |  | 324,815 |  | 6,071 |  | 528,405
Financial obligation – interest |  | 14,868 |  | 13,289 |  | 14,911 |  | 203 |  | 43,271
Lease – capital |  | 3,609 |  | 2,010 |  | 2,220 |  | — |  | 7,839
Lease – interest |  | 74 |  | 143 |  | 145 |  | — |  | 362
Hedge derivative financial instruments |  | 15,804 |  | 2,635 |  | — |  | — |  | 18,439
Contingent consideration liability |  | — |  | — |  | 9,924 |  | 36,746 |  | 46,670
Total |  | 290,743 |  | 194,009 |  | 352,015 |  | 43,020 |  | 879,787
As of December 31, 2019 - |  |  |  |  |  |  |  |  |  |
Bank loans – capital |  | 55,000 |  | — |  | — |  | — |  | 55,000
Bank loans – interest |  | 486 |  | — |  | — |  | — |  | 486
Trade and other payables |  | 152,070 |  | 616 |  | — |  | — |  | 152,686
Financial obligation – capital |  | 262,088 |  | 131,588 |  | 125,154 |  | 48,568 |  | 567,398
Financial obligation – interest |  | 22,597 |  | 11,225 |  | 11,880 |  | 1,449 |  | 47,151
Lease – capital |  | 3,692 |  | 1,514 |  | 2,297 |  | — |  | 7,503
Lease – interest |  | 73 |  | 143 |  | 404 |  | — |  | 620
Contingent consideration liability |  | — |  | — |  | 4,905 |  | 35,166 |  | 40,071
Total |  | 496,006 |  | 145,086 |  | 144,640 |  | 85,183 |  | 870,915
Schedule of information about the credit risk exposure | Set out below is the information about the credit risk exposure on the Group's trade and other receivables:
|  |  |  | Days past due |  |  |
|  | Current |  | < 30 days |  | 30 – 90 days |  | > 90 days |  | Total |
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) |
As of December 31, 2020 - |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | 159,840 |  | — |  | — |  | 22,128 |  | 181,968 |
Other receivables |  | 172,116 |  | — |  | 1,221 |  | 9,717 |  | 183,054 |
|  | 331,956 |  | — |  | 1,221 |  | 31,845 |  | 365,022 |
Expected credit loss rate |  | 0 | % | 0 | % | 0 | % | 100 | % | — |
Expected credit loss |  | — |  | — |  | — |  | (31,845) |  | (31,845) |
As of December 31, 2019 - |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | 204,096 |  | — |  | — |  | 22,016 |  | 226,112 |
Other receivables |  | 125,409 |  | 42,390 |  | 4,332 |  | 10,006 |  | 182,137 |
|  | 329,505 |  | 42,390 |  | 4,332 |  | 32,022 |  | 408,249 |
Expected credit loss rate |  | 0 | % | 0 | % | 0 | % | 100 | % | — |
Expected credit loss |  | — |  | — |  | — |  | (32,022) |  | (32,022) |
Schedule of financial position of the Company | The financial position of the Company is as follows:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Debt and accounts payables |  | 226,333 |  | 188,896
Leasing |  | 330 |  | 596
Less cash and short-term deposits |  | (870,929) |  | (818,503)
Net debt |  | (644,266) |  | (629,011)
Total liquidity |  | 870,929 |  | 818,503
Minera Yanacocha SRL and subsidiary [Member] |
Disclosure of financial risk management objectives and policies [Line Items] |
Schedule of foreign-currency exchange rates risk |
|  | Carrying amount |  | Fair value
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000)
Financial assets: |  |  |  |  |  |  |  |
Trade and other receivables, net |  | 27,658 |  | 15,016 |  | 27,658 |  | 15,016
Restricted cash |  | 48,752 |  | 48,617 |  | 49,042 |  | 50,353
Financial assets at fair value |  | 21,676 |  | 23,648 |  | 21,676 |  | 23,648
|  | 98,086 |  | 87,281 |  | 98,376 |  | 89,017
|  | Carrying amount |  | Fair value
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000)
Financial liabilities: |  |  |  |  |  |  |  |
Debt instrument |  | 45,423 |  | 43,927 |  | 47,479 |  | 45,633
|  | 45,423 |  | 43,927 |  | 47,479 |  | 45,633
Schedule of current financial liabilities | The following table represents the analysis of the Company’s financial liabilities, considering the remaining period to reach such maturity as of the consolidated statement of financial position date (see notes 11 and 12):
|  | 2020
|  |  |  | Between 1 to 2 |  | Between 2 to 5 |  |
|  | Less than 1 year |  | years |  | years |  | Total
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000)
Trade accounts payable – domestic suppliers |  | 44,977 |  | — |  | — |  | 44,977
Debt instruments |  | — |  | — |  | 45,423 |  | 45,423
Trade accounts payable - Related parties |  | 12,374 |  | — |  | — |  | 12,374
Leases liabilities |  | 290 |  | 40 |  | — |  | 330
|  | 57,641 |  | 40 |  | 45,423 |  | 103,104
|  | 2019
|  |  |  | Between 1 to 2 |  | Between 2 to 5 |  |
|  | Less than 1 year |  | years |  | years |  | Total
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000)
Trade accounts payable – domestic suppliers |  | 45,671 |  | — |  | — |  | 45,671
Debt instruments |  | — |  | — |  | 43,927 |  | 43,927
Trade accounts payable - Related parties |  | 11,426 |  | — |  | — |  | 11,426
Leases liabilities |  | 291 |  | 305 |  | — |  | 596
|  | 57,388 |  | 305 |  | 43,927 |  | 101,620
Schedule of information about the credit risk exposure | Set out below is the information about the credit risk exposure on the Company’s trade and other receivables:
| Days past due |
|  | Current |  | < 30 days |  | 30 – 90 days |  | > 90 days |  | Total |
|  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | — |  | 21,274 |  | 2,797 |  | 4,971 |  | 29,042 |
Expected credit loss rate |  | — | % | — | % | — | % | 27.84 | % | 4.77 | %
Expected credit loss |  | — |  | — |  | — |  | (1,384) |  | (1,384) |
Total |  | — |  | 21,274 |  | 2,797 |  | 3,587 |  | 27,658 |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Trade receivables |  | — |  | 5,047 |  | 7,976 |  | 3,377 |  | 16,400 |
Expected credit loss rate |  | — | % | — | % | — | % | 40.98 | % | 8.44 | %
Expected credit loss |  | — |  | — |  | — |  | (1,384) |  | (1,384) |
Total |  | — |  | 5,047 |  | 7,976 |  | 1,993 |  | 15,016 |
Sociedad Minera Cerro Verde S.A.A. [Member] |
Disclosure of financial risk management objectives and policies [Line Items] |
Schedule of foreign-currency exchange rates risk |
|  | Effect on profit before
|  | income tax
|  | US$(000)
December 31, 2020 |  |
10% increase in future copper prices |  | 112,080
10% decrease in future copper prices |  | (112,080)
|  | Effect on profit before
|  | income tax
|  | US$(000)
December 31, 2019 |  |
10% increase in future copper prices |  | 99,219
10% decrease in future copper prices |  | (99,219)
|  | Effect on profit before
|  | income tax
|  | US$(000)
December 31, 2018 |  |
10% increase in future copper prices |  | 72,847
10% decrease in future copper prices |  | (72,847)

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