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Investments in associates and joint venture (Tables) | 12 Months Ended
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Dec. 31, 2022
Investments in associates and joint ventures |
Schedule of interests in associates and joint ventures |
| (a) | This caption is made up as follows:
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share in equity | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
​ | ​ | % | ​ | % | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Associates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sociedad Minera Cerro Verde S.A.A. |  | 19.58 |  | 19.58 |  | 1,408,260 |  | 1,305,377
Compañía Minera Coimolache S.A. |  | 40.10 |  | 40.10 |  | 98,388 |  | 101,683
Tinka Resources Ltd. | ​ | 19.32 | ​ | 19.30 |  | 10,678 |  | 11,573
​ | ​ | ​ | ​ | ​ | ​ | 1,517,326 | ​ | 1,418,633
Joint venture (d) | ​ | ​ | ​ | ​ |  | 2,486 |  | 2,497
Other minor investments | ​ | ​ | ​ | ​ |  | 1,165 |  | 1,165
​ | ​ | ​ | ​ | ​ |  | 1,520,977 |  | 1,422,295
​
Schedule of net share in profit (loss) of investments |
| (b) | The table below presents the net share in profit (loss) of investments:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
Associates | ​ | ​ | ​ | ​ | ​ | ​
Sociedad Minera Cerro Verde S.A.A. |  | 181,221 |  | 233,342 |  | 53,767
Compañía Minera Coimolache S.A. |  | (2,493) |  | 8,170 |  | 10,055
Tinka Resources Ltd. | ​ | (2,447) | ​ | (1,098) | ​ | (868)
​ | ​ | 176,281 | ​ | 240,414 | ​ | 62,954
Joint venture | ​ | (11) | ​ | 36 | ​ | (252)
​ |  | 176,270 |  | 240,450 |  | 62,702
​
Schedule of financial position of associate under equity method | The table below presents the key financial data from the joint venture under IFRS: ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Statements of financial position as of December 31: | ​ | ​ | ​ | ​
Current assets |  | 14,760 |  | 19,898
Non-current assets |  | 77,435 |  | 87,634
Current liabilities |  | (17,608) |  | (14,403)
Non-current liabilities |  | (53,768) |  | (72,444)
Equity | ​ | 20,819 | ​ | 20,685
​ | ​ | ​ | ​ | ​
Adjustments to conform to the Group accounting policies | ​ | 10,256 | ​ | 10,528
​ | ​ | ​ | ​ | ​
Equity, adjusted | ​ | 31,075 | ​ | 31,213
​ | ​ | ​ | ​ | ​
Group’s share in results | ​ | 2,486 | ​ | 2,497
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 |  | 2021 |  | 2020
​ |  | US$(000) |  | US$(000) |  | US$(000)
Statements of profit or loss for the years ended December 31: |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue |  | 27,538 |  | 22,937 |  | 18,560
​ | ​ | ​ | ​ | ​ | ​ | ​
Net profit (loss) from continuing operations |  | 322 |  | 191 |  | (2,554)
Adjustments to conform to the Group accounting policies |  | (459) |  | 259 |  | (596)
Net profit (loss), adjusted |  | (137) |  | 450 |  | (3,150)
Group interests |  | (11) |  | 36 |  | (252)
​
Summary of changes in investments in associates and joint venture | ​
​ | ​ | ​ | ​ | ​
​ | ​ | 2022 |  | 2021
​ |  | US$(000) |  | US$(000)
​ | ​ | ​ | ​ | ​
As of January 1, |  | 1,422,295 |  | 1,488,775
Net share in profit of associates and joint venture |  | 176,270 |  | 240,450
Equity contributions granted and paid, note 32(a) |  | 1,677 |  | —
Dividends declared and collected, note 32(a) |  | (79,140) |  | (148,411)
Unrealized results on investments |  | (101) |  | (335)
Reclassification of share of the year in losses of Yanacocha to discontinued operations, note 1(e) |  | — |  | (422,394)
Reclassification to held for sale of the investment in Yanacocha, note 1(e) |  | — |  | 264,838
Equity reduction of minor investments |  | — |  | (580)
Translation adjustments and other |  | (24) |  | (48)
As of December 31, |  | 1,520,977 |  | 1,422,295
Sociedads Minera Cerro Verde S.A.A. |
Investments in associates and joint ventures |
Schedule of net share in profit (loss) of investments | ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Statements of financial position as of December 31: | ​ | ​ | ​ | ​
Current assets |  | 1,946,762 |  | 2,157,182
Non-current assets |  | 6,047,101 |  | 5,967,382
Current liabilities |  | (564,058) |  | (1,252,095)
Non-current liabilities |  | (778,378) |  | (745,463)
​ | ​ | ​ | ​ | ​
Equity |  | 6,651,427 |  | 6,127,006
​ | ​ | ​ | ​ | ​
Group’s interest | ​ | 1,300,497 | ​ | 1,197,614
Goodwill | ​ | 107,763 | ​ | 107,763
​ | ​ | 1,408,260 | ​ | 1,305,377
​ |  | ​ |  | ​
​
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Cerro Verde under IFRS: ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Statements of financial position as of December 31: | ​ | ​ | ​ | ​
Current assets |  | 1,946,762 |  | 2,157,182
Non-current assets |  | 6,047,101 |  | 5,967,382
Current liabilities |  | (564,058) |  | (1,252,095)
Non-current liabilities |  | (778,378) |  | (745,463)
​ | ​ | ​ | ​ | ​
Equity |  | 6,651,427 |  | 6,127,006
​ | ​ | ​ | ​ | ​
Group’s interest | ​ | 1,300,497 | ​ | 1,197,614
Goodwill | ​ | 107,763 | ​ | 107,763
​ | ​ | 1,408,260 | ​ | 1,305,377
​ |  | ​ |  | ​
​
Compania Minera Coimolache S.A. |
Investments in associates and joint ventures |
Schedule of net share in profit (loss) of investments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Statements of profit or loss for the years ended December 31: | ​ | ​ | ​ | ​ | ​ | ​
Sales of goods |  | 159,003 |  | 215,481 |  | 203,163
​ | ​ | ​ | ​ | ​ | ​ | ​
Net profit (loss) from continued operations |  | (8,368) |  | 18,294 |  | 22,786
Adjustments to conform to the accounting policies |  | 2,150 |  | 2,083 |  | 2,293
​ | ​ | ​ | ​ | ​ | ​ | ​
Net profit (loss), adjusted |  | (6,218) |  | 20,377 |  | 25,079
​ | ​ | ​ | ​ | ​ | ​ | ​
Group’s share in results |  | (2,493) |  | 8,170 |  | 10,055
​
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Coimolache under IFRS: ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Statements of financial position as of December 31: | ​ | ​ | ​ | ​
Current assets |  | 208,382 |  | 216,581
Non-current assets |  | 157,203 |  | 184,635
Current liabilities |  | (21,565) |  | (36,521)
Non-current liabilities |  | (95,822) |  | (106,129)
​ | ​ | ​ | ​ | ​
Equity |  | 248,198 |  | 258,566
​ | ​ | ​ | ​ | ​
Adjustments to conform to the accounting policies of the Group |  | (2,804) |  | (4,954)
​ | ​ | ​ | ​ | ​
Equity, adjusted |  | 245,394 |  | 253,612
​ | ​ | ​ | ​ | ​
Group’s interest |  | 98,388 |  | 101,683
Tinka resources Ltd |
Investments in associates and joint ventures |
Schedule of financial position of associate under equity method | The table below presents the key financial data from the financial statements of Tinka under IFRS in 2022 (financial statements as of September 30, 2022) and in 2021 and 2020 (financial statements as of November 30, 2021 and 2020, respectively): ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
Statements of financial position: |  | ​ | ​ |
Current assets |  | 13,007 | ​ | 8,667
Non-current assets |  | 50,454 | ​ | 50,461
Current liabilities |  | (473) | ​ | (211)
Equity |  | 62,988 | ​ | 58,917
​ | ​ | ​ | ​ | ​
Adjustments to conform to the accounting policies of the Group |  | (7,719) | ​ | 1,042
​ | ​ | ​ | ​ | ​
Equity, adjusted |  | 55,269 | ​ | 59,959
​ | ​ | ​ | ​ | ​
Group’s interest |  | 10,678 | ​ | 11,573
Schedule of statements of profit or loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 | ​ | 2020
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
Statements of profit or loss for the years: |  | ​ | ​ | ​ | ​ |
Sales of goods |  | — | ​ | — | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss from continued operations |  | (4,383) | ​ | (1,109) | ​ | (2,311)
Adjustments to conform to the Group accounting policies |  | (8,283) | ​ | (4,583) | ​ | (2,189)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss, adjusted |  | (12,666) | ​ | (5,692) | ​ | (4,500)
​ | ​ | ​ | ​ | ​ | ​ | ​
Group’s share in results |  | (2,447) | ​ | (1,098) | ​ | (868)
​

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