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v3.23.1

Derivative financial instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Disclosure of derivative financial instruments [Line Items] |
Schedule of hedged financial instruments |
| (a) | This caption is made up as follows:
​
​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000)
Copper and Zinc prices hedge (b) |  | 8,839 |  | (6,332)
Interest rate hedge (c) |  | — |  | (644)
​ |  | 8,839 |  | (6,976)
​
Schedule of detailed information about hedge derivatives financial instruments | The table below presents the composition of open transactions designated as hedging derivative financial instruments as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Quotations | ​ | ​
Quotation period |  | Concentrate |  | Metric tons |  | Fixed |  | Futures |  | Fair value
​ | ​ | ​ | ​ | ​ | ​ | US$/DMT(*) | ​ | US$/DMT(*) | ​ | US$(000)
January 2023 |  | Copper |  | 2,000 |  | 10,185 |  | 8,344 |  | 4,332
February 2023 |  | Copper |  | 1,500 |  | 10,109 |  | 8,350 |  | 1,867
March 2023 |  | Copper |  | 1,500 |  | 10,153 |  | 8,353 |  | 2,640
​ |  | ​ |  | 5,000 | ​ | ​ | ​ | ​ |  | 8,839
​ (*) DMT= Dry metric tonne. ​ The table below presents the composition of open transactions designated as hedging derivative financial instruments as of December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Quotations | ​ | ​
Quotation period |  | Concentrate |  | Metric tons |  | Fixed |  | Futures |  | Fair value
​ | ​ | ​ | ​ | ​ | ​ | US$/DMT(*) | ​ | US$ DMT(*) | ​ | US$(000)
January 2022 |  | Copper |  | 3,250 |  | 9,405 |  | 9,748 |  | (1,112)
January 2022 |  | Zinc |  | 500 |  | 3,450 |  | 9,748 |  | (65)
February 2022 |  | Copper |  | 2,000 |  | 9,444 |  | 9,740 |  | (591)
March 2022 |  | Copper |  | 2,000 |  | 9,525 |  | 9,732 |  | (413)
April 2022 |  | Copper |  | 2,700 |  | 9,103 |  | 9,719 |  | (1,661)
May 2022 |  | Copper |  | 3,050 |  | 9,175 |  | 9,701 |  | (1,601)
June 2022 |  | Copper |  | 1,000 |  | 9,425 |  | 9,686 |  | (260)
July 2022 |  | Copper |  | 3,000 |  | 9,442 |  | 9,676 |  | (701)
October 2022 |  | Copper |  | 1,500 |  | 9,762 |  | 9,631 |  | 196
December 2022 |  | Copper |  | 1,000 |  | 9,475 |  | 9,600 |  | (124)
​ | ​ | ​ | ​ | 20,000 | ​ | ​ | ​ | ​ | ​ | (6,332)
​ (*) DMT= Dry metric tonne. ​
Schedule of composition of the operations to be settled that are part of the liability for hedging derivative instrument | ​ As of December 31, 2022, the Company did not have hedginge derivative instruments. The following is the composition of the operations to be settled that are part of the liability for hedging derivative instrument as of December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | LIBOR three months |  |
Maturity | ​ | Amount | ​ | Fixed | ​ | Forwards | ​ | Fair value
​ |  | US$(000) | ​ | ​ | ​ | ​ | ​ | US$(000)
October 2022 |  | 81,666 |  | 2.632 | % | 2.06% - 2.14 | % | (191)
October 2022 |  | 74,167 |  | 2.632 | % | 2.06% - 2.14 | % | (174)
October 2022 |  | 74,167 |  | 0.732 | % | 0.16% - 0.24 | % | (174)
July 2022 |  | 45,000 |  | 2.632 | % | 2.06% - 2.14 | % | (105)
​ |  | 275,000 |  | ​ | ​ | ​ | ​ | (644)
​
Sociedad Minera Cerro Verde S.A.A. |
Disclosure of derivative financial instruments [Line Items] |
Schedule of embedded derivatives | As discussed in Note 2(d), the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2022 and 2021, information about the Company’s embedded derivatives is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2022 |
​ | ​ | Pounds | ​ | ​ | ​ | Provisional | ​ | ​ | ​ | ​ |
​ | ​ | payable | ​ | Maturity | ​ | pricing | ​ | Forward pricing | ​ | Fair value |
​ |  | (000) |  | ​ |  | US$/Pound |  | US$/Pound | ​ | US$(000) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Copper Concentrate |  | 320,095 |  | January 2023 to May 2023 |  | Between 3.448 and 3.807 |  | Between 3.798 and 3.799 |  | 63,335 | ​
Copper Cathode |  | 4,187 |  | January 2023 |  | Between 3.808 and 3.817 |  | 3.798 |  | (61) | ​
Molybdenum |  | 2,425 |  | January 2023 to February 2023 |  | Between 16.677 y 16.935 |  | 28.267 |  | 27,737 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 91,011 | (a)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2021 | ​
​ | ​ | Pounds | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | payable | ​ | Maturity | ​ | Provisional pricing | ​ | Forward pricing | ​ | Fair value | ​
​ |  | (000) |  | ​ |  | US$/Pound |  | US$/Pound |  | US$(000) |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Copper Concentrate |  | 284,566 |  | January 2022 to May 2022 |  | Between 4.174 and 4.584 |  | Between 4.400 and 4.421 |  | 13,335 |
Copper Cathode |  | 3,087 |  | January 2022 |  | 4.318 |  | 4.421 |  | 318 |
Molybdenum |  | 4,035 |  | January 2022 to February 2022 |  | Between 16.659 and 16.773 |  | 16.456 |  | (860) |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 12,793 | (a)
(a) Embedded derivative adjustments are recorded on the statement of financial position in “Trade account receivable – related parties”.

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