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Derivative financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Disclosure of derivative financial instruments [Line Items] |
Schedule of detailed information about hedge derivatives financial instruments | The table below presents the composition of open transactions included in the hedge derivative financial instruments as of December 31, 2020:
|  |  |  |  |  | Quotations |  |
Quotation period |  | Concentrate |  | Metric tone |  | Fixed |  | Futures |  | Fair value
|  |  |  |  |  | US$/DMT |  | US$/ DMT |  | US$(000)
January 2021 |  | Copper |  | 1,250 |  | 6,500 |  | 7,758 |  | (1,572)
February 2021 |  | Copper |  | 1,250 |  | 6,500 |  | 7,762 |  | (1,577)
March 2021 |  | Copper |  | 2,250 |  | 6,633 |  | 7,767 |  | (2,549)
April 2021 |  | Copper |  | 2,000 |  | 6,750 |  | 7,769 |  | (2,036)
May 2021 |  | Copper |  | 3,000 |  | 6,897 |  | 7,769 |  | (2,615)
June 2021 |  | Copper |  | 3,000 |  | 6,967 |  | 7,770 |  | (2,408)
July 2021 |  | Copper |  | 2,000 |  | 7,025 |  | 7,768 |  | (1,483)
August 2021 |  | Copper |  | 2,000 |  | 7,100 |  | 7,765 |  | (1,327)
September 2021 |  | Copper |  | 2,000 |  | 7,500 |  | 7,762 |  | (523)
October 2021 |  | Copper |  | 2,000 |  | 7,900 |  | 7,757 |  | 286
|  |  |  | 20,750 |  |  |  |  |  | (15,804)
Schedule of hedged financial instruments | This caption is made up as follows:
|  | 2020 |  | 2019
|  | US$(000) |  | US$(000)
Copper prices hedge (a) |  | (15,804) |  | —
Interest rate hedge (b) |  | (2,635) |  | —
|  | (18,439) |  | —
Schedule of composition of the operations to be settled that are part of the liability for hedging derivative instrument | The following is the composition of the operations to be settled that are part of the liability for hedging derivative instrument as of December 31, 2020:
|  |  |  | LIBOR of three months |  |
Maturity |  | Amount |  | Fixed |  | Futures |  | Fair value
|  | US$(000) |  |  |  |  |  | US$(000)
October 2022 |  | 81,666 |  | 2.632 | % | 2.06% - 2.14 | % | (785)
October 2022 |  | 74,167 |  | 2.632 | % | 2.06% - 2.14 | % | (712)
October 2022 |  | 74,167 |  | 0.732 | % | 0.16% - 0.24 | % | (706)
July 2022 |  | 45,000 |  | 2.632 | % | 2.06% - 2.14 | % | (432)
|  | 275,000 |  |  |  |  |  | (2,635)
Sociedad Minera Cerro Verde S.A.A. [Member] |
Disclosure of derivative financial instruments [Line Items] |
Schedule of embedded derivatives | As discussed in Note 2(d), the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2020 and 2019, information about the Company’s embedded derivatives is as follows:
|  |  |  |  |  | As of December 31, 2020 |
|  | Pounds |  |  |  |  |  |  |  |  |
|  | payable |  | Maturity |  | Provisional pricing |  | Forward pricing |  | Fair value provision |
|  | (000) |  |  |  | US$/Pound |  | US$/Pound |  | US$(000) |
Copper Concentrate |  | 267,872 |  | January 2021 to May 2021 |  | Between 2.908 and 3.545 |  | Between 3.519 and 3.524 |  | 98,424 |
Copper Cathode |  | 3,964 |  | January 2021 |  | Between 3.535 and 3.612 |  | 3.519 |  | (235) |
Molybdenum |  | 3,382 |  | January 2021 to February 2021 |  | Between 7.360 and 7.884 |  | 8.658 |  | 3,245 |
|  |  |  |  |  |  |  |  |  | 101,434 | (a)
|  |  |  |  |  | As of December 31, 2019 |
|  | Pounds |  |  |  |  |  |  |  |  |
|  | payable |  | Maturity |  | Provisional pricing |  | Forward pricing |  | Fair value provision |
|  | (000) |  |  |  | US$/Pound |  | US$/Pound |  | US$(000) |
Copper Concentrate |  | 246,441 |  | January 2020 to May 2020 |  | Between 2.567 and 2.774 |  | Between 2.793 and 2.804 |  | 39,727 |
Copper Cathode |  | 4,410 |  | January 2020 |  | 2.791 |  | 2.793 |  | 9 |
Molybdenum |  | 5,370 |  | January 2020 to February 2020 |  | Between 7.857 and 9.724 |  | 8.025 |  | (3,031) |
|  |  |  |  |  |  |  |  |  | 36,705 | (a)
(a) Embedded derivatives are recorded on the statement of financial position in “Trade account receivable – related parties” (US$101.4 million as of December 31, 2020, and US$36.1 million as of December 31, 2019) and “Trade accounts receivable (net)” (US$0.6 million as of December 31, 2019).

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