XML 45 R23.htm IDEA: XBRL DOCUMENT
v3.23.1

Other Financial Liabilities (debt) | 12 Months Ended
--- | ---
Dec. 31, 2022
Sociedad Minera Cerro Verde S.A.A. |
Disclosure Of Other Financial Liabilities debt [Line Items] |
Other financial liabilities (debt) | 10. Other financial liabilities (debt) This item is made up as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022 |  | December 31, 2021
​ | ​ | US$(000) | ​ | US$(000)
Current debt: | ​ | ​ | ​ | ​
Lease liabilities (a) | ​ | 7,028 | ​ | 7,617
Senior unsecured credit facility (b) | ​ | — | ​ | 324,695
Total current debt | ​ | 7,028 | ​ | 332,312
Non-current debt: | ​ | ​ | ​ | ​
Lease liabilities (a) | ​ | 56,097 | ​ | 62,503
Total other financial liabilities |  | 63,125 |  | 394,815
| (a) | The lease liability consists of leased land, buildings and other constructions, and machinery and equipment which are used in mine operations.
​ Set out below are the carrying amounts of lease liabilities and the movements during the period ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Balance at beginning of the year |  | 70,120 | ​ | 79,217
Additions |  | 4,957 | ​ | 4,099
Accrued interest (see Note 18) | ​ | 3,912 | ​ | 4,371
Payments | ​ | (12,327) | ​ | (12,746)
Interest payments |  | (3,912) | ​ | (4,371)
Exchange rate effect |  | 375 | ​ | (450)
Total lease liabilities |  | 63,125 | ​ | 70,120
​ For the year ended December 31, 2022, the following are the amounts recognized in profit: ​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Expenses related to variable lease payments, low-value and short-term leases |  | 13,431 | ​ | 7,973
Depreciation charge of right-of-use assets (see Note 7(b) and 15) |  | 12,708 | ​ | 12,459
Interest expense on lease liabilities (see Note 18) |  | 3,912 | ​ | 4,371
​ |  | ​ | ​ | ​
​ |  | 30,051 | ​ | 24,803
​ The Company has certain lease contracts for machinery and equipment used in mine operations that contain variable payments based on the number of hours that machinery or equipment is used in operations.
| (b) | In March 2014, the Company entered into a five-year, US$1.8 billion senior unsecured credit facility with several banks led by Citibank N.A. as the administrative agent. The disbursements were mainly used to finance a portion of the Company’s expansion project.
In June 2017, the Company entered into an amendment to the senior unsecured credit facility, which extended the maturity and increased the outstanding amount by US$225 million. After the amendment, the balance of the total credit facility was US$1.5 billion. On May 31, 2022, the Company paid the remaining outstanding balance of US$325 million using the revolving credit facility discussed below (see Note 10(c)). For the year ended December 31, 2022, the Company recognized interest expense in the statements of comprehensive income of US$3.2 million (US$10.1 million for the year ended December 31, 2021 and US$22.4 million for the year ended December 31, 2020) associated with the senior credit facility (see Note 18). (c)Revolving Credit Facility - On May 31, 2022, the Company entered into a new US$350 million, unsecured revolving credit facility with several banks led by the Bank of Nova Scotia. The revolving credit facility expires on May 31, 2027. In May 2022, the Company borrowed US$325 million on this revolving credit facility, which was repaid during June 2022 using operating cash flows. As of December 31, 2022, the Company recognized debt issuance costs related to the revolving credit facility of US$3.5 million, which will be amortized over the term of the revolving credit facility agreement. For the year ended December 31, 2022, the Company recognized interest expense in the statements of comprehensive income of US$1.9 million associated with the revolving credit facility (see Note 18). Interest on the revolving credit facility is calculated based on the adjusted Secured Overnight Financing Rate plus a spread and credit rate differential adjustment contemplated in the contract, and the undrawn portion is subject to a commitment fee of 0.50%. Restrictive Covenants – The revolving credit facility contains certain financial ratios that the Company must comply with on a quarterly basis, including a total net debt to earnings before interest, taxes, depreciation, and amortization ratio (which cannot exceed 3.50 to 1) and an interest coverage ratio (which cannot be less than 3.0 to 1), defined by the agreement. As of December 31, 2022 and 2021, the Company was in compliance with all of its covenants. Following is the movement of the changes derived from the financing activities for the year ended December 31, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ | ​ |  | Long term |  | ​ |  | ​ |  | ​ |  | ​ |  | Long term |  | ​ |  | ​
​ | ​ | January 1, | ​ | ​ | ​ | ​ | ​ | to short term | ​ | ​ | ​ | December 31, | ​ | ​ | ​ | ​ | ​ | to short term | ​ | ​ | ​ | December 31,
​ |  | 2021 |  | Additions |  | Payments |  | transfers |  | Others |  | 2021 |  | Additions |  | Payments |  | transfers |  | Others |  | 2022
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revolving credit facility | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 325,000 | ​ | (325,000) | ​ | — | ​ | — | ​ | —
Senior unsecured credit facility, see Note 10 (b) | ​ | — | ​ | — | ​ | ​ | ​ | 325,000 | ​ | — | ​ | 325,000 | ​ | — | ​ | (325,000) | ​ | — | ​ | — | ​ | —
Lease liabilities, see Note 10 (a) |  | 10,223 |  | 3,629 | ​ | (12,746) |  | 6,667 |  | (156) |  | 7,617 |  | — |  | (12,327) |  | 11,537 |  | 201 |  | 7,028
Senior unsecured credit facility debt issuance costs | ​ | — | ​ | — | ​ | — | ​ | (1,025) | ​ | 720 | ​ | (305) | ​ | — | ​ | — | ​ | — | ​ | 305 | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Senior unsecured credit facility |  | 525,000 |  | — | ​ | (200,000) |  | (325,000) |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Senior unsecured credit facility debt issuance costs |  | (1,549) |  | — | ​ | ​ |  | 1,025 |  | 524 |  | — |  | — |  | — |  | — |  | — |  | —
Lease liabilities, see Note 10 (a) | ​ | 68,994 | ​ | 470 | ​ | ​ | ​ | (6,667) | ​ | (294) | ​ | 62,503 | ​ | 4,957 | ​ | — | ​ | (11,537) | ​ | 174 | ​ | 56,097
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total liabilities from financing activities |  | 602,668 |  | 4,099 | ​ | (212,746) |  | — |  | 794 |  | 394,815 |  | 329,957 |  | (662,327) |  | — |  | 680 |  | 63,125
​

X
- References No definition available. + Details
Name: | bvn_DisclosureOfOtherFinancialLiabilitiesDebtLineItems
Namespace Prefix: | bvn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition . + References No definition available. + Details
Name: | bvn_DisclosureOfOtherFinancialLiabilitiesTextBlock
Namespace Prefix: | bvn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | ifrs-full_SignificantInvestmentsInAssociatesAxis=bvn_SociedadMineraCerroVerdeSaaMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |