XML 31 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated statements of cash flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities      
Profit for the period $ (150,339,000) $ (28,459,000) $ (11,654,000)
Proceeds from sales 708,196,000 783,000,000 1,216,294,000
Recovery from value added tax and other taxes 42,967,000 45,712,000 106,656,000
Royalty received 18,954,000 23,001,000 20,013,000
Dividends received from related parties 3,649,000 33,388,000 46,792,000
Dividends received from investments 2,500,000 0 0
Proceeds from insurance claim 4,381,000 0 38,793,000
Interest received 1,658,000 4,265,000 2,383,000
Payments to suppliers and third parties, and other net (454,140,000) (610,737,000) (861,282,000)
Payments to employees (129,353,000) (137,300,000) (151,602,000)
Income tax and Royalties paid to Peruvian State (25,708,000) (24,935,000) (30,898,000)
Payments for tax litigation (22,386,000) (36,322,000) 0
Interest paid (21,653,000) (28,266,000) (27,699,000)
Payments of royalties (6,180,000) (4,741,000) (13,190,000)
Net (increase) decrease in operating liabilities:      
Net cash and cash equivalents provided by operating activities 122,885,000 47,065,000 346,260,000
Investing activities      
Proceeds from sale of property, plant and equipment to third parties 24,416,000 726,000 2,240,000
Additions to mining concessions, development costs, property, plant and equipment (71,546,000) (102,627,000) (111,270,000)
Acquisition of investment in associate (13,453,000) 0 0
Payments for acquisition of other assets (1,641,000) (3,700,000) (8,529,000)
Net cash and cash equivalents used in investing activities (62,224,000) (105,601,000) (117,559,000)
Financing activities      
Proceeds from bank loans 18,019,000 55,000,000 95,000,000
Payments of bank loans (7,197,000) (95,000,000) (95,000,000)
Proceeds from financial obligations 0 161,894,000 0
Payments of financial obligations (38,994,000) (186,152,000) (45,222,000)
Dividends paid to controlling shareholders 0 (22,098,000) (22,860,000)
Short-term and low value lease payments (4,080,000) (7,596,000) 0
Decrease (increase) of bank accounts in trust 2,134,000 (166,000) (410,000)
Dividends paid to non-controlling shareholders (5,140,000) (6,500,000) (5,560,000)
Net cash and cash equivalents used in financing activities (35,258,000) (100,618,000) (74,052,000)
Increase (decrease) in cash and cash equivalents for the year, net 25,403,000 (159,154,000) 154,649,000
Cash and cash equivalents at beginning of year 210,046,000 369,200,000 214,551,000
Cash and cash equivalents at year-end 235,449,000 210,046,000 369,200,000
Financing and investing activities not affecting cash flows:      
Changes in estimates of mine closures plans 31,558,000 26,722,000 42,874,000
Change of the fair value for contingent consideration liability (5,690,000) (655,000) 1,815,000
Accounts receivable from sale of assets 8,233,000 21,648,000 2,715,000
Fair value for contingent consideration liability (5,690,000) (655,000) 1,815,000
Transactions with no effects in cash flows:      
Increase of right-of-use assets 6,200,000 3,700,000  
Minera Yanacocha Srl And Subsidiaries [Member]      
Operating activities      
Profit for the period (165,449,000) (95,257,000) (81,517,000)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Current income tax expense 53,018,000 64,928,000 29,297,000
Deferred income tax benefit 0 0 (1,071,000)
Depreciation and amortization 140,252,000 144,862,000 156,212,000
Provision for mine closure 124,780,000 142,129,000 16,285,000
Unwinding of present value of the provision for mine closure 32,049,000 36,709,000 36,015,000
Unwinding of discount of debt instruments 1,497,000 1,497,000 735,000
Write-off of fixed assets 460,000 1,204,000 0
Loss (gain) for fixed asset sales (10,000) (5,996,000) 624,000
Write-down of ore inventories to realizable value 37,880,000 33,464,000 90,365,000
Reversal of the write-down of ore inventories to realizable value (72,518,000) (74,666,000) (63,778,000)
Allowance for obsolescence of materials and supplies 497,000 (1,417,000) 439,000
Net (increase) decrease in operating assets:      
Trade and other receivables (7,110,000) 13,290,000 (7,580,000)
Value added tax credit and other taxes (6,439,000) (16,491,000) 7,616,000
Inventories and Stockpiles and ore on leach pads 84,833,000 42,326,000 7,120,000
Prepaid expenses (600,000) (238,000) (345,000)
Financial assets at fair value (628,000) (561,000) 299,000
Net (increase) decrease in operating liabilities:      
Trade and other payables (3,706,000) (8,231,000) 2,028,000
Provisions (982,000) 10,051,000 (2,617,000)
Other accruals and liabilities 20,753,000 21,282,000 (197,000)
Closure of mining units paid (22,656,000) (23,889,000) (19,842,000)
Cash flows from (used in) operations 215,921,000 284,996,000 170,088,000
Income tax paid (20,066,000) (12,600,000) (8,863,000)
Net cash and cash equivalents provided by operating activities 195,855,000 272,396,000 161,225,000
Investing activities      
Proceeds from sale of property, plant and equipment to third parties 460,000 8,088,000 4,821,000
Additions to mining concessions, development costs, property, plant and equipment (143,489,000) (184,403,000) (117,636,000)
Restricted cash (135,000) (490,000) (48,127,000)
Net cash and cash equivalents used in investing activities (143,164,000) (176,805,000) (160,942,000)
Financing activities      
Proceeds from sale of shares 0 0 47,911,000
Payment of principal portion of lease liabilities (265,000) (296,000) 0
Net cash and cash equivalents used in financing activities (265,000) (296,000) 47,911,000
Increase (decrease) in cash and cash equivalents for the year, net 52,426,000 95,295,000 48,194,000
Cash and cash equivalents at beginning of year 818,503,000 723,208,000 675,014,000
Cash and cash equivalents at year-end 870,929,000 818,503,000 723,208,000
Transactions with no effects in cash flows:      
Addition (deductions) of asset retirement cost (4,125,000) 158,967,000 27,275,000
Increase of right-of-use assets 0 1,045,000 0
Sociedads Minera Cerro Verde Saa [Member]      
Operating activities      
Profit for the period 274,544,000 390,377,000 119,710,000
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Current income tax expense 235,613,000 317,205,000 366,998,000
Depreciation and amortization 484,237,000 535,000,000 512,298,000
Accretion on remediation and mine closure provision 4,196,000 4,048,000 4,322,000
Net (gain) loss on sale of property, plant and equipment (11,000) 279,000 964,000
Provision of mining royalties dispute 33,176,000 66,123,000 379,282,000
Provision (gain) for uncertainty about treatments of income taxes 1,313,000 (13,781,000)  
Profit sharing update 42,041,000 0  
Capital project canceled 6,255,000 0  
Other adjustments 5,201,000 0  
Net (increase) decrease in operating assets:      
Trade and other receivables (139,577,000) (39,300,000) 67,475,000
Other accounts receivable 623,000 3,535,000 1,954,000
Inventories and Stockpiles and ore on leach pads (60,549,000) (63,871,000) (49,371,000)
Other non-financial assets (17,380,000) (3,040,000) (76,186,000)
Net (increase) decrease in operating liabilities:      
Trade and other payables (26,418,000) 20,796,000 29,419,000
Other accounts payable 47,419,000 44,573,000 48,130,000
Benefits to employees 18,178,000 (8,276,000) (50,440,000)
Other provisions (18,905,000) 12,164,000 (11,561,000)
Mining royalties dispute payments (138,904,000) (186,953,000) (56,186,000)
Interest paid (not included in the financing activities) (21,260,000) (37,226,000) (47,442,000)
Interest lease payments (4,875,000) (5,242,000)  
Income tax paid (86,610,000) (216,369,000) (430,810,000)
Net cash and cash equivalents provided by operating activities 638,307,000 820,042,000 808,556,000
Investing activities      
Proceeds from sale of property, plant and equipment to third parties 189,000 1,243,000 109,000
Additions to mining concessions, development costs, property, plant and equipment (178,991,000) (283,459,000) (280,183,000)
Stripping activity asset (92,890,000) (197,038,000) (177,327,000)
Net cash and cash equivalents used in investing activities (271,692,000) (479,254,000) (457,401,000)
Financing activities      
Payments of bank loans (305,000,000) (200,000,000) (250,000,000)
Dividends 0 (150,000,000) (200,000,000)
Payment of principal portion of lease liabilities (9,376,000) (10,479,000)  
Net cash and cash equivalents used in financing activities (314,376,000) (360,479,000) (450,000,000)
Increase (decrease) in cash and cash equivalents for the year, net 52,239,000 (19,691,000) (98,845,000)
Cash and cash equivalents at beginning of year 481,491,000 501,182,000 600,027,000
Cash and cash equivalents at year-end 533,730,000 481,491,000 501,182,000
Transactions with no effects in cash flows:      
Changes on the provision for remediation and mine closure $ (37,569,000) $ (59,964,000) $ 29,293,000