XML 448 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated statements of cash flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Profit for the year $ (262,804,000) $ (150,339,000) $ (28,459,000)
Proceeds from sales 945,631,000 708,196,000 783,000,000
Dividends received from related parties 148,411,000 3,649,000 33,388,000
Recovery of taxes 28,191,000 42,967,000 45,712,000
Royalty received 17,074,000 18,954,000 23,001,000
Dividends received from other investments 3,350,000 2,500,000 1,126,000
Proceeds from insurance claim 2,358,000 4,381,000 0
Interest received 207,000 1,658,000 4,265,000
Payments to suppliers and third parties, and other net (608,689,000) (434,591,000) (589,852,000)
Payments for tax litigation (552,639,000) (22,386,000) (36,322,000)
Payments to employees (125,773,000) (129,353,000) (137,300,000)
Income tax and royalties paid to Peruvian State (34,157,000) (25,708,000) (24,935,000)
Interest paid (14,504,000) (21,653,000) (28,266,000)
Payments of royalties (6,970,000) (6,180,000) (4,741,000)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Current income tax expense 9,700,000 9,700,000 9,700,000
Net increase (decrease) in operating liabilities:      
Trade and other payables   2,742,000  
Net cash and cash equivalents provided by (used in) operating activities (197,510,000) 142,434,000 69,076,000
Investing activities      
Proceeds from sale of investments 3,640,000 0 0
Proceeds from sale of property, plant and equipment 739,000 24,416,000 726,000
Acquisition of investment in associate 0 (13,453,000) 0
Additions to property, plant and equipment (90,309,000) (71,546,000) (102,627,000)
Payments for acquisition of other assets (357,000) (1,641,000) (3,700,000)
Net cash and cash equivalents used in investing activities (86,287,000) (62,224,000) (105,601,000)
Financing activities      
Senior notes bonds issued, net of issuance costs 539,300,000 0 0
Proceeds from bank loans 50,000,000 18,019,000 55,000,000
Decrease (increase) of bank accounts in trust 17,000 2,134,000 (166,000)
Payments of bank loans (65,793,000) (7,197,000) (95,000,000)
Short-term and low value lease payments (35,985,000) (19,549,000) (22,011,000)
Increase of restricted time deposits (29,242,000) 0 0
Payments of financial obligations (21,585,000) (38,994,000) (186,152,000)
Lease payments (5,205,000) (4,080,000) (7,596,000)
Dividends paid to non-controlling interest (6,160,000) (5,140,000) (6,500,000)
Additions 0 0 161,894,000
Dividends paid to controlling interest 0 0 (22,098,000)
Net cash and cash equivalents provided by (used in) financing activities 425,347,000 (54,807,000) (122,629,000)
Increase (decrease) in cash and cash equivalents for the year, net 141,550,000 25,403,000 (159,154,000)
Cash and cash equivalents at beginning of year 235,449,000 210,046,000 369,200,000
Cash and cash equivalents at year-end 376,999,000 235,449,000 210,046,000
Financing and investing activities not affecting cash flows:      
Changes in estimates of mine closures plans (3,272,000) 31,558,000 26,722,000
Leases additions 2,972,000 5,213,000 19,885,000
Transactions with no effects in cash flows:      
Increase of right-of-use assets 3,000,000.0 6,200,000  
Minera Yanacocha SRL and subsidiary [Member]      
Operating activities      
Profit for the year (967,682,000) (165,449,000) (95,257,000)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Impairment reversal on long lived assets (97,592,000) 0 0
Current income tax expense 50,008,000 53,018,000 64,928,000
Deferred income tax benefit (1,021,000) 0 0
Loss on assets held for sale 152,224,000 0 0
Depreciation and amortization 151,843,000 140,252,000 144,862,000
Provision for mine closure 823,889,000 124,780,000 142,129,000
Unwinding of present value of the provision for mine closure 33,609,000 32,049,000 36,709,000
Unwinding of discount of debt instruments 1,657,000 1,497,000 1,497,000
Write-off of fixed assets 613,000 460,000 1,204,000
Loss (gain) for fixed asset sales (1,009,000) (10,000) (5,996,000)
Write-down of ore inventories to realizable value 14,137,000 37,880,000 33,464,000
Reversal of the write-down of ore inventories to realizable value (26,165,000) (72,518,000) (74,666,000)
Allowance for obsolescence of materials and supplies 877,000 497,000 (1,417,000)
Net (increase) decrease in operating assets:      
Trade and other receivables (34,866,000) (7,110,000) 13,290,000
Value added tax credit and other taxes 13,413,000 (6,439,000) (16,491,000)
Inventories and stockpiles and ore on leach pads (12,516,000) 84,833,000 42,326,000
Prepaid expenses 257,000 (600,000) (238,000)
Financial assets at fair value (1,331,000) (628,000) (561,000)
Net increase (decrease) in operating liabilities:      
Trade and other payables 17,842,000 (3,706,000) (8,231,000)
Provisions (5,029,000) (982,000) 10,051,000
Other accruals and liabilities (13,013,000) 20,753,000 21,282,000
Payments on closure of mining areas (71,247,000) (22,656,000) (23,889,000)
Cash flows from (used in) operations 28,898,000 215,921,000 284,996,000
Income tax paid (15,735,000) (20,066,000) (12,600,000)
Net cash and cash equivalents provided by (used in) operating activities 13,163,000 195,855,000 272,396,000
Investing activities      
Proceeds from sale of property, plant and equipment 0 460,000 8,088,000
Additions to property, plant and equipment (207,986,000) (143,489,000) (184,403,000)
Restricted cash 0 (135,000) (490,000)
Proceeds from assets held for sale 16,958,000 0 0
Net cash and cash equivalents used in investing activities (191,028,000) (143,164,000) (176,805,000)
Financing activities      
Lease payments (215,000) (265,000) (296,000)
Net cash and cash equivalents provided by (used in) financing activities (215,000) (265,000) (296,000)
Increase (decrease) in cash and cash equivalents for the year, net (178,080,000) 52,426,000 95,295,000
Cash and cash equivalents at beginning of year 870,929,000 818,503,000 723,208,000
Cash and cash equivalents at year-end 692,849,000 870,929,000 818,503,000
Transactions with no effects in cash flows:      
Addition (deductions) of asset retirement cost (7,927,000) (4,125,000) 158,967,000
Increase of right-of-use assets 0 0 1,045,000
Sociedad Minera Cerro Verde S.A.A      
Operating activities      
Profit for the year 1,191,474,000 274,544,000 390,377,000
Adjustments to reconcile profit after income tax to net cash flows from operating activities:      
Current income tax expense 750,082,000 235,613,000 291,014,000
Depreciation and amortization 484,218,000 484,237,000 535,000,000
Accretion on remediation and mine closure provision 3,715,000 4,196,000 4,048,000
Net (gain) loss on sale of property, plant and equipment (255,000) (11,000) 279,000
Provision of mining royalties dispute 15,311,000 44,414,000 73,770,000
Provision (gain) for uncertainty about treatments of income taxes (14,379,000) 1,313,000 7,060,000
Profit sharing update (1,002,000) 42,041,000  
Capital project canceled 195,000 6,255,000  
Share-based payments cost 2,894,000 2,259,000 1,560,000
Net (increase) decrease in operating assets:      
Trade and other receivables (4,477,000) (139,577,000) (39,300,000)
Other accounts receivable 3,018,000 623,000 3,535,000
Inventories and stockpiles and ore on leach pads (23,170,000) (60,549,000) (63,871,000)
Other non-financial assets (27,660,000) (15,008,000) (5,341,000)
Net increase (decrease) in operating liabilities:      
Trade and other payables 34,735,000 (28,677,000) 18,797,000
Other accounts payable (28,200,000) 48,503,000 45,648,000
Benefits to employees 60,581,000 18,178,000 (8,276,000)
Other provisions (2,883,000) (28,398,000) 11,532,000
Mining royalties dispute payments (420,963,000) (138,904,000) (186,953,000)
Interest paid (not included in the financing activities) (9,674,000) (21,260,000) (37,226,000)
Interest lease payments (4,371,000) (4,875,000) (5,242,000)
Income tax paid (315,861,000) (86,610,000) (216,369,000)
Net cash and cash equivalents provided by (used in) operating activities 1,693,328,000 638,307,000 820,042,000
Investing activities      
Proceeds from sale of property, plant and equipment 423,000 189,000 1,243,000
Purchases of intangibles assets (6,951,000) 0  
Additions to property, plant and equipment (155,912,000) (178,991,000) (283,459,000)
Stripping activity asset (214,192,000) (92,890,000) (197,038,000)
Net cash and cash equivalents used in investing activities (376,632,000) (271,692,000) (479,254,000)
Financing activities      
Payments of bank loans (200,000,000) (305,000,000) (200,000,000)
Lease payments (12,746,000) (9,376,000) (10,479,000)
Dividends (700,000,000) 0 (150,000,000)
Net cash and cash equivalents provided by (used in) financing activities (912,746,000) (314,376,000) (360,479,000)
Increase (decrease) in cash and cash equivalents for the year, net 403,950,000 52,239,000 (19,691,000)
Cash and cash equivalents at beginning of year 533,730,000 481,491,000 501,182,000
Cash and cash equivalents at year-end 937,680,000 533,730,000 481,491,000
Transactions with no effects in cash flows:      
Changes on the provision for remediation and mine closure $ 18,271,000 $ (37,569,000) $ (59,964,000)