XML 66 R41.htm IDEA: XBRL DOCUMENT
v3.21.1

Finance costs and finance income | 12 Months Ended
--- | ---
Dec. 31, 2020
Finance costs and revenues [Line Items] |
Finance costs and finance income | 27. Finance costs and finance income (a)This caption is made up as follows:
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Interest on time deposits |  | 1,074 |  | 4,971 |  | 5,176
Interests on third parties loans |  | 355 |  | 460 |  | 561
Interests on tax claims |  | 352 |  | 16 |  | 1,701
Interests on loans to related parties, note 30(a) |  | 114 |  | 86 |  | 92
Dividends income |  | — |  | 3,625 |  | —
Other minor |  | 155 |  | 517 |  | 340
|  | 2,050 |  | 9,675 |  | 7,870
Financial obligations amortized costs, note 16(f) |  | 361 |  | — |  | —
Unrealized change of the fair value related to contingent consideration liability (b) |  | — |  | — |  | 1,815
Total finance revenues |  | 2,411 |  | 9,675 |  | 9,685
Finance costs: |  |  |  |  |  |
Interest on borrowings |  | 19,249 |  | 28,418 |  | 31,538
Commission for restructuring financial obligations, note 16 |  | 3,929 |  | — |  | —
Interest on commercial obligations |  | 626 |  | — |  | —
Settlement of hedging financial instruments, note 32(b) |  | 146 |  | — |  | —
Tax on financial transactions |  | 107 |  | 166 |  | 173
Interest on loans |  | 55 |  | 1 |  | 2
Other minor |  | 37 |  | 141 |  | 703
|  | 24,149 |  | 28,726 |  | 32,416
Accretion expense for mine closure, note 15(b) |  | 6,672 |  | 10,390 |  | 4,982
Unrealized change of the fair value related to contingent consideration liability (b) |  | 5,690 |  | 655 |  | —
Accrual of debt issuance costs, note 16(f) |  | 976 |  | 2,109 |  | 1,024
Accretion expense for leases related to rights in use, nota 16(f) |  | 180 |  | 293 |  | —
Other minor |  | 155 |  | — |  | —
|  | 37,822 |  | 42,173 |  | 38,422
(b)Contingent consideration - On August 18, 2014, Buenaventura acquired from Minera Gold Fields Peru S.A. (“Gold Fields”) 51 percent of the voting shares of Canteras del Hallazgo S.A.C., which represent the whole interest of Gold Fields in the equity of such entity. Through the fusion with Canteras del Hallazgo S.A.C, the Group is the owner of the Chucapaca project, which is located in the Ichuña district, in the General Sanchez Cerro province, in the Moquegua department, Peru. According to previously performed studies, there is evidence of the existence of gold, silver, copper and antimony in the area, specifically in the Canahuire deposit. The purchase and sale agreement considered a contingent consideration of US$23,026,000, which corresponds to the present value of the future royalty payments equivalent to 1.5 percent over the future sales of the minerals arising from the mining properties acquired. The fair value of the future royalty payments was determined using the income approach. Significant increase (decrease) in the future sales of mineral would result in higher (lower) fair value of the contingent consideration liability, while significant increase (decrease) in the discount rate would result in lower (higher) fair value of the liability. Changes in the fair value of this contingent consideration have been recognized through profit or loss in the consolidated statement of profit or loss. As of December 31, 2020, it is highly probable that the Group reaches the projected future sales. The fair value of the contingent consideration determined as of December 31, 2020 reflects this assumption and changes in metal prices.
| (c) |  | A reconciliation of fair value measurement of the contingent consideration liability is provided below:
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Beginning balance |  | 16,410 |  | 15,755 |  | 17,570
Variation of the fair value in profit and loss |  | 5,690 |  | 655 |  | (1,815)
Final balance |  | 22,100 |  | 16,410 |  | 15,755
Significant unobservable valuation inputs are provided below:
|  | 2020 |  | 2019
Annual average of future sales of mineral (US$000) |  | 222,238 |  | 190,815
Useful life of mining properties |  | 14 |  | 14
Pre-tax discount rate (%) |  | 9.30 |  | 10.00
The Group has the preferential right of acquisition of the royalty in case Gold Fields decides to sell it.
Minera Yanacocha SRL and subsidiary [Member] |
Finance costs and revenues [Line Items] |
Finance costs and finance income | 22. Finance costs This caption is made up as follows:
|  | 2020 |  | 2019 |  | 2018
|  | US$(000) |  | US$(000) |  | US$(000)
Unwinding of the discount of the provision for mining closure, note 12(b) |  | 32,049 |  | 36,709 |  | 36,015
Commissions of guarantee letters |  | 3,153 |  | 2,485 |  | 2,113
Unwinding of debt instruments, note 14 |  | 1,497 |  | 1,497 |  | 735
Interests on tax contingency and others, see note 23 |  | — |  | 16,938 |  | 161
|  | 36,699 |  | 57,629 |  | 39,024

X
- References No definition available. + Details
Name: | bvn_FinanceCostsAndRevenuesLineItems
Namespace Prefix: | bvn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of finance income (cost). [Refer: Finance income (cost)] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2020-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_10_e&doctype=Standard -URIDate 2020-01-01 + Details
Name: | ifrs-full_DisclosureOfFinanceIncomeExpenseExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | ifrs-full_SignificantInvestmentsInAssociatesAxis=bvn_MineraYanacochaSrlAndSubsidiaryMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |