XML 28 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated statements of cash flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities        
Profit for the year $ 602,935,000 $ (262,804,000) $ (150,339,000)  
Proceeds from sales of goods and services 809,668,000 945,631,000 708,196,000  
Dividends received from associates 79,140,000 148,411,000 3,649,000  
Recovery of taxes 32,793,000 28,191,000 42,967,000  
Royalty received 5,183,000 17,074,000 18,954,000  
Interest received 2,915,000 207,000 1,658,000  
Dividends received from other investments 0 3,350,000 2,500,000  
Proceeds from insurance claim 0 2,358,000 4,381,000  
Payments to suppliers and third parties, and other net (580,468,000) (608,689,000) (434,591,000)  
Payments to and for employees (123,903,000) (125,773,000) (129,353,000)  
Income tax and royalties paid to Peruvian State (82,637,000) (34,157,000) (25,708,000)  
Short-term and low value lease payments (41,352,000) (35,985,000) (19,549,000)  
Interest paid (41,132,000) (14,504,000) (21,653,000)  
Payments of royalties to third parties (11,053,000) (6,970,000) (6,180,000)  
Payments for tax litigation (7,488,000) (552,639,000) (22,386,000)  
Adjustments to reconcile profit after income tax to net cash flows from operating activities:        
Income tax expense   9,700,000 9,700,000 $ 9,700,000
Net increase (decrease) in operating liabilities:        
Net cash flows from (used in) operating activities 41,666,000 (233,495,000) 122,885,000  
Cash flows of investing activities        
Collection for sale of participation in Yanacocha 300,000,000 0 0  
Collection for purchase of La Zanja shares 45,000,000 0 0  
Proceeds from sale of property, plant and equipment 13,116,000 739,000 24,416,000  
Proceeds from sale of investments 1,577,000 0 0  
Proceeds from sale of investments in subsidiaries 0 3,640,000 0  
Payments for acquisition of property, plant and equipment (151,973,000) (90,309,000) (71,546,000)  
Acquisition of investment in associate (1,677,000) 0 (13,453,000)  
Payments for acquisition of other assets (290,000) (357,000) (1,641,000)  
Net cash flows from (used in) investing activities 205,753,000 (86,287,000) (62,224,000)  
Cash flows of financing activities        
Revolving credit facility 0 50,000,000 18,019,000  
Payments of senior unsecured credit facility (50,000,000) (65,793,000) (7,197,000)  
Decrease (increase) of restricted time deposits 29,117,000 (29,242,000) 0  
Senior notes bonds issued, net of issuance costs 0 539,300,000 0  
Payments (323,057,000) (21,585,000) (38,994,000)  
Dividends paid to controlling interest (18,542,000) 0 0  
Lease payments (4,638,000) (5,205,000) (4,080,000)  
Other financial payments 0 (10,700,000) 0  
Dividends paid to non-controlling interest (2,647,000) (6,160,000) (5,140,000)  
Decrease (increase) of bank accounts in trust (733,000) 17,000 2,134,000  
Net cash flows from (used in) financing activities (370,500,000) 461,332,000 (35,258,000)  
Increase (decrease) in cash and cash equivalents for the year, net (123,081,000) 141,550,000 25,403,000  
Cash and cash equivalents at beginning of year 376,999,000 235,449,000 210,046,000  
Cash and cash equivalents at year-end 253,918,000 376,999,000 235,449,000 210,046,000
Financing and investing activities not affecting cash flows:        
Additions 11,712,000 2,973,000 5,213,000  
Due from for sales of properties and concessions 2,119,000 7,481,000 8,233,000  
Changes in estimates of mine closure plans (21,869,000) (3,272,000) 31,558,000  
Unrealized income (loss) in investments (101,000) (335,000) 264,000  
Transactions with no effects in cash flows:        
Increase of right-of-use assets 11,700,000 3,000,000.0    
Sociedad Minera Cerro Verde S.A.A        
Operating activities        
Profit for the year 925,353,000 1,191,474,000 274,544,000  
Adjustments to reconcile profit after income tax to net cash flows from operating activities:        
Income tax expense 528,214,000 750,082,000 235,613,000  
Depreciation and amortization 504,750,000 484,218,000 484,237,000  
Work in progress stockpiles write-off 7,668,000 0    
Accretion on the provision for remediation and mine closure 4,566,000 3,715,000 4,196,000  
Gain on sale of property, plant and equipment (279,000) (255,000) (11,000)  
Provision of mining royalties dispute 0 15,311,000 44,414,000  
Provision (gain) on uncertain income tax positions (19,667,000) (14,379,000) 1,313,000  
Profit sharing adjustments (1,585,000) (1,002,000) 42,041,000  
Canceled capital projects 18,000 195,000 6,255,000  
Share-based payments cost 2,502,000 2,894,000 2,259,000  
Net (increase) decrease in operating assets:        
Trade and other receivables (95,416,000) (4,477,000) (139,577,000)  
Other accounts receivable (4,057,000) 3,018,000 623,000  
Inventories and stockpiles and ore on leach pads (54,058,000) (23,170,000) (60,549,000)  
Other non-financial assets (22,430,000) (27,660,000) (15,008,000)  
Net increase (decrease) in operating liabilities:        
Trade and other payables 60,574,000 34,735,000 (28,677,000)  
Other accounts payable (7,140,000) (28,200,000) 48,503,000  
Benefits to employees (16,695,000) 60,581,000 18,178,000  
Other provisions (3,310,000) (2,883,000) (28,398,000)  
Mining royalties dispute payments 0 (420,963,000) (138,904,000)  
Interest paid (not included in the financing activities) (3,934,000) (9,674,000) (21,260,000)  
Interest on lease payments (3,912,000) (4,371,000) (4,875,000)  
Income tax paid (934,101,000) (315,861,000) (86,610,000)  
Net cash flows from (used in) operating activities 867,061,000 1,693,328,000 638,307,000  
Cash flows of investing activities        
Proceeds from sale of property, plant and equipment 384,000 423,000 189,000  
Purchases of intangibles assets 0 (6,951,000)    
Payments for acquisition of property, plant and equipment (206,354,000) (155,912,000) (178,991,000)  
Stripping activity asset (304,198,000) (214,192,000) (92,890,000)  
Net cash flows from (used in) investing activities (510,168,000) (376,632,000) (271,692,000)  
Cash flows of financing activities        
Revolving credit facility 325,000,000 0    
Payments of revolving credit facility (325,000,000) 0    
Payments of senior unsecured credit facility (325,000,000) (200,000,000) (305,000,000)  
Lease payments (12,327,000) (12,746,000) (9,376,000)  
Other financial payments (3,482,000) 0    
Dividends (400,000,000) (700,000,000)    
Net cash flows from (used in) financing activities (740,809,000) (912,746,000) (314,376,000)  
Increase (decrease) in cash and cash equivalents for the year, net (383,916,000) 403,950,000 52,239,000  
Cash and cash equivalents at beginning of year 937,680,000 533,730,000   $ 481,491,000
Cash and cash equivalents at year-end 553,764,000 937,680,000 533,730,000  
Transactions with no effects in cash flows:        
Changes on the provision for remediation and mine closure $ 17,812,000 $ 18,271,000 $ (37,569,000)