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Financial - risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2021

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)
2021
Exchange rate		10	%	56,122
Exchange rate		(10)	%	(56,122)
​	​	​	​	​
2020
Exchange rate		10	%	7,591
Exchange rate		(10)	%	(7,083)
​	​	​	​	​
2019
Exchange rate		10	%	4,053
Exchange rate		(10)	%	(3,545)

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)
2021	​	​	​	​
Interest rate		10	%	(1,414)
Interest rate		(10)	%	1,414
​	​	​	​	​
2020	​	​	​	​
Interest rate		10	%	(81)
Interest rate		(10)	%	81
​	​	​	​	​
2019	​	​	​	​
Interest rate		10	%	(306)
Interest rate		(10)	%	306

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, 2021 -											​
Trade receivables		149,394		—		—		22,276		171,670	​
Other receivables		726,870		—		—		8,621		735,491	​
​		876,264		—		—		30,897		907,161	​
Expected credit loss rate Expected credit loss rate	​	0	%	0	%	0	%	100	%	—	​
Expected credit loss	​	—		—		—		(30,897)		(30,897)	​
​	​	​	​	​	​	​	​	​	​	​	​
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 Expected credit loss rate	​	0	%	0	%	0	%	100	%	—	​
Expected credit loss	​	—		—		—		(31,845)		(31,845)	​

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
​	​	(2022)	​	(2023)	​	(2024 to 2026)	​	(since 2027)	​	​
​	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2021-	​	​	​	​	​	​	​	​	​	​
Bank loans – capital		50,000		—		—		—		50,000
Bank loans – interest		820		—		—		—		820
Trade and other payables		248,033		—		—		—		248,033
Financial obligation – capital	​	175,620	​	106,784	​	774,102	​	—	​	1,056,506
Financial obligation – interest	​	43,313	​	40,803	​	99,634	​	—	​	183,750
Lease – capital	​	3,906	​	1,822	​	51	​	—	​	5,779
Lease – interest		74		95		—		—		169
Hedge derivative financial instruments	​	6,976	​	—	​	—	​	—	​	6,976
Contingent consideration liability		—		—		7,032		33,702		40,734
​	​	​	​	​	​	​	​	​	​	​
Total	​	528,742	​	149,504	​	880,819	​	33,702	​	1,592,767
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2020 -	​	​	​	​	​	​	​	​	​	​
Bank loans – capital		65,793		—		—		—		65,793
Bank loans – interest	​	1,156	​	—	​	—	​	—	​	1,156
Trade and other payables		186,778		—		—		—		186,778
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		309,669		194,009		352,015		43,020		898,713

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
​		2021		2020		2021		2020
​	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​
Financial assets:	​		​		​		​
Trade and other receivables, net	​	37,105		27,658	​	37,105		27,658
Restricted cash	​	48,752		48,752	​	48,752		49,042
Financial assets at fair value	​	81		21,676	​	81		21,676
​	​	​		​	​	​		​
​	​	85,938		98,086	​	85,938		98,376

​

​	​	​	​	​	​	​	​	​
​	​	Carrying amount			​	Fair value
​		2021		2020		2021		2020
​	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​
Financial liabilities:	​	​	​	​	​	​	​	​
Trade and other payables	​	86,659	​	68,645	​	86,659	​	68,645
Debt instrument	​	47,080		45,423	​	47,080		47,479
​	​	​		​	​	​		​
​	​	133,739		114,068	​	133,739		116,124

​

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, 2021	​										​
Trade receivables	​	​		6,647		4,010		5,232		15,889	​
Expected credit loss rate	​	—	%	—	%	—	%	35.86	%	9.65	%
Expected credit loss	​	—		—		—		(1,384)		(1,384)	​
Total	​	—		6,647		4,010		3,848		14,505	​
​	​	​		​		​		​		​	​
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	​

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 13 and 14):

​

​	​	​	​	​	​	​	​	​
​		2021
​	​	​	​	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	​	60,980	​	—	​	—	​	60,980
Debt instruments		—	​	—	​	47,080		47,080
Trade accounts payable - Related parties		12,317	​	—	​	—		12,317
Lease liabilities	​	115	​	—	​	—	​	115
​	​	​	​	​	​	​	​	​
​		73,412	​	—	​	47,080		120,492

​

​	​	​	​	​	​	​	​	​
​		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
Lease liabilities		290		40		—		330
​		​		​		​		​
​	​	​	​	​	​	​	​	​
​		57,641		40		45,423		103,104

​

Schedule of financial position of the Company

​

​	​	​	​	​
​		2021		2020
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Debt and accounts payable		198,442		226,333
Leases		115		330
Less: cash and short-term deposits		(692,849)		(870,929)
​		​		​
Net debt		(494,292)		(644,266)
​	​	​	​	​
Total liquidity		692,849		870,929
​		​		​

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, 2021	​	​
10% increase in future copper prices		140,420
10% decrease in future copper prices		(140,420)

​

​	​	​
December 31, 2020	​	​
10% increase in future copper prices		112,080
10% decrease in future copper prices		(112,080)

​

​	​	​
December 31, 2019
10% increase in future copper prices		99,219
10% decrease in future copper prices		(99,219)

​

​

​	​	​	​	​	​
​		Exchange-rate		Effect on profit (loss)
​	​	increase/decrease	​	before income tax	​
​	​	​	​	US$(000)
​	​	​	​	​	​
2021	​	​	​	​	​
Exchange rate		5	%	(7,782)	​
Exchange rate		(5)	%	7,782	​
​		​		​	​
2020		​		​	​
Exchange rate		5	%	20,656	​
Exchange rate		(5)	%	(20,656)	​

X

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-Name IFRS
-Number 7
-IssueDate 2021-01-01
-Paragraph 35M
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_35M&doctype=Standard
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