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v3.23.1

Deferred income tax (Tables) | 12 Months Ended
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Dec. 31, 2022
Deferred income tax |
Schedule of temporary difference, unused tax losses and unused tax credits |
| (a) | The Group recognizes the effects of timing differences between the accounting and tax basis. This caption is made up as follows:
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Credit (debit) to | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Credit (debit) to | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | consolidated | ​ | ​ |  | ​ |  | ​ |  | consolidated | ​ | Credit (debit) to |  | ​
​ |  | ​ |  | Credit (debit) to |  | Credit (debit) to |  | statements of | ​ | ​ |  | Credit (debit) to |  | Credit (debit) to |  | statements | ​ | consolidated |  | ​
​ | ​ | As of |  | consolidated |  | discontinued | ​ | other | ​ | As of | ​ | consolidated |  | discontinued |  | of changes | ​ | statements of other | ​ | As of
​ | ​ | January 1, | ​ | statement of profit | ​ | operations (note | ​ | comprehensive | ​ | December 31, | ​ | statement of profit | ​ | operations (note | ​ | in equity | ​ | comprehensive | ​ | December 31,
​ |  | 2021 |  | or loss |  | 1(e)) |  | income | ​ | 2021 |  | or loss |  | 1(e)) |  | (note 1(d)) | ​ | income |  | 2022
​ |  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) | ​ | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) | ​ | US$(000) |  | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred asset for income tax | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax - loss carryforwards |  | 158,513 |  | 28,368 |  | — |  | — | ​ | 186,881 |  | 16,450 |  | — |  | (13,372) | ​ | — |  | 189,959
Difference in depreciation and amortization rates |  | 63,903 |  | (11,406) |  | — |  | — | ​ | 52,497 |  | (9,705) |  | — |  | — | ​ | — |  | 42,792
Provision for closure of mining units, net |  | 14,200 |  | 16,151 |  | — |  | — | ​ | 30,351 |  | (1,660) |  | — |  | — | ​ | — |  | 28,691
Provision for impairment of value of inventory |  | 7,299 |  | 1,709 |  | — |  | — | ​ | 9,008 |  | (254) |  | — |  | — | ​ | — |  | 8,754
Contingent consideration liability | ​ | 6,512 | ​ | (1,285) | ​ | — | ​ | — | ​ | 5,227 | ​ | (228) | ​ | — | ​ | — | ​ | — | ​ | 4,999
Provision for bonuses to employees and officers | ​ | 5,078 | ​ | 618 | ​ | ​ | ​ | ​ | ​ | 5,696 | ​ | (2,724) | ​ | — | ​ | — | ​ | — | ​ | 2,972
Impairment loss of long-lived assets provision | ​ | 1,930 | ​ | — | ​ | — | ​ | — | ​ | 1,930 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,930
Contractors claims provisions | ​ | 1,678 | ​ | 3,558 | ​ | — | ​ | — | ​ | 5,236 | ​ | (4,100) | ​ | — | ​ | — | ​ | — | ​ | 1,136
Provision for sale of investment in associate |  | — |  | — |  | 50,444 |  | — | ​ | 50,444 |  | — |  | (50,444) |  | — | ​ | — |  | —
Other |  | 2,619 |  | 6,946 |  | — |  | — | ​ | 9,565 |  | 2,133 |  | — |  | — | ​ | — |  | 11,698
​ |  | 261,732 |  | 44,659 |  | 50,444 |  | — | ​ | 356,835 |  | (88) |  | (50,444) |  | (13,372) | ​ | — |  | 292,931
Derivative financial instruments |  | 5,440 |  | — |  | — |  | (3,382) | ​ | 2,058 |  | — |  | — |  | — | ​ | (2,058) |  | —
​ |  | 267,172 |  | 44,659 |  | 50,444 |  | (3,382) | ​ | 358,893 |  | (88) |  | (50,444) |  | (13,372) | ​ | (2,058) |  | 292,931
Deferred assets for mining royalties and special mining tax | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 51 | ​ | — | ​ | — | ​ | — | ​ | 51
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​
Total deferred asset |  | 267,172 |  | 44,659 |  | 50,444 |  | (3,382) | ​ | 358,893 |  | (37) |  | (50,444) |  | (13,372) | ​ | (2,058) |  | 292,982
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred liability for income tax | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of translation into U.S. dollars |  | (78,129) |  | (895) |  | (9,030) |  | — | ​ | (88,054) |  | 20,153 |  | 9,030 |  | — | ​ | — |  | (58,871)
Differences in amortization rates for development costs |  | (64,836) |  | 558 |  | — |  | — | ​ | (64,278) |  | (1,682) |  | — |  | — | ​ | — |  | (65,960)
Difference in depreciation and amortization rates | ​ | (47,035) | ​ | (2,078) | ​ | — | ​ | — | ​ | (49,113) | ​ | (10,509) | ​ | — | ​ | — | ​ | — | ​ | (59,622)
Fair value of mining concessions | ​ | (14,898) | ​ | — | ​ | — | ​ | — | ​ | (14,898) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (14,898)
Other |  | (26,369) |  | 1,707 |  | — |  | — | ​ | (24,662) |  | 7,575 |  | — |  | — | ​ | — |  | (17,087)
​ | ​ | (231,267) | ​ | (708) | ​ | (9,030) | ​ | — | ​ | (241,005) | ​ | 15,537 | ​ | 9,030 | ​ | — | ​ | — | ​ | (216,438)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (2,608) | ​ | (2,608)
​ | ​ | (231,267) | ​ | (708) | ​ | (9,030) | ​ | — | ​ | (241,005) | ​ | 15,537 | ​ | 9,030 | ​ | — | ​ | (2,608) | ​ | (219,046)
Deferred liability for mining royalties and special mining tax | ​ | (374) | ​ | 95 | ​ | — | ​ | — | ​ | (279) | ​ | 92 | ​ | — | ​ | — | ​ | — | ​ | (187)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred liability |  | (231,641) |  | (613) |  | (9,030) |  | — | ​ | (241,284) |  | 15,629 |  | 9,030 |  | — | ​ | (2,608) |  | (219,233)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax asset, net |  | 35,531 |  | 44,046 |  | 41,414 |  | (3,382) | ​ | 117,609 |  | 15,592 |  | (41,414) |  | (13,372) | ​ | (4,666) |  | 73,749
Schedule of detailed information about net deferred tax asset | ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Deferred income tax asset, net |  | 106,170 |  | 164,351
Deferred income tax liability, net |  | (32,421) |  | (46,742)
​ | ​ | ​ | ​ | ​
​ |  | 73,749 |  | 117,609
​
Schedule of detailed information about provision for income taxes |
| (c) | The following is the composition of the provision for income taxes shown in the consolidated statement of income for the years 2022, 2021 and 2020:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​
Current |  | (12,091) |  | (13,128) |  | (8,446)
Deferred |  | 15,449 |  | 43,951 |  | (15,270)
​ |  | 3,358 |  | 30,823 |  | (23,716)
Mining Royalties and Special Mining Tax | ​ | ​ | ​ | ​ | ​ | ​
Current |  | (3,542) |  | (7,247) |  | (1,478)
Deferred |  | 143 |  | 95 |  | (236)
​ |  | (3,399) |  | (7,152) |  | (1,714)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax |  | (41) |  | 23,671 |  | (25,430)
​
Schedule of reconciliation of accounting profit multiplied by applicable tax rates |
| (d) | Below is a reconciliation of tax benefit (expense) and the accounting profit (loss) before income tax multiplied by the statutory tax rate for the years 2022, 2021 and 2020:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Profit (loss) before income tax |  | 124,429 | ​ | 101,129 | ​ | (58,099)
Profit (loss) from discontinued operations before income tax |  | 564,708 | ​ | (429,018) | ​ | (66,810)
​ |  | ​ | ​ | ​ | ​ | ​
Profit (loss) before income tax | ​ | 689,137 | ​ | (327,889) | ​ | (124,909)
​ |  | ​ | ​ | ​ | ​ | ​
Theoretical income tax benefit (expense) | ​ | (203,295) | ​ | 96,727 | ​ | 36,848
​ |  | ​ | ​ | ​ | ​ | ​
Permanent items and others: |  | ​ | ​ | ​ | ​ | ​
Investment in associate available for sale | ​ | 83,192 | ​ | (83,192) | ​ | (21,305)
Share in the results of associates and joint venture | ​ | 52,000 | ​ | 70,933 | ​ | 18,497
Effect of translation into U.S. dollars | ​ | 20,153 | ​ | (895) | ​ | (31,853)
Foreign exchange difference of permanent items |  | (14,051) | ​ | (9,001) | ​ | (10,524)
Non-deductible expenses |  | (13,144) | ​ | 2,048 | ​ | (14,310)
Non-deductible work-in-process write - off |  | (4,839) | ​ | — | ​ | —
Income tax from previous years | ​ | (1,982) | ​ | — | ​ | —
Mining royalties and special mining tax |  | (837) | ​ | (3,253) | ​ | 1,273
Non-deductible deferred tax for striping cost |  | — | ​ | (1,130) | ​ | (2,342)
Income tax income (expense) |  | (82,803) | ​ | 72,237 | ​ | (23,716)
Mining Royalties and Special Mining Tax |  | (3,399) | ​ | (7,152) | ​ | (1,714)
Total income tax | ​ | (86,202) | ​ | 65,085 | ​ | (25,430)
​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax from continuing operations | ​ | (41) | ​ | 23,671 | ​ | (25,430)
Income tax from discontinued operations | ​ | (86,161) | ​ | 41,414 | ​ | —
​ | ​ | (86,202) | ​ | 65,085 | ​ | (25,430)
​

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