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Financial - Risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of financial risk management objectives and policies [Line Items]

Schedule of foreign-currency exchange rates risk

A table showing the effect on results of a reasonable change in foreign-currency exchange rates is presented below, with all other variables kept constant:

​

​	​	​	​	​
​	​	Exchange-rate	​	Effect on profit (loss)
​		increase/decrease		before income tax
​	​	​	​	US$(000)
2022
Exchange rate		10	%	58,032
Exchange rate		(10)	%	(58,032)
​	​	​	​	​
2021
Exchange rate		10	%	56,122
Exchange rate		(10)	%	(56,122)
​	​	​	​	​
2020
Exchange rate		10	%	7,591
Exchange rate		(10)	%	(7,083)

​

Schedule of interest rates risk

A table showing the effect in profit or loss of the variations of interest rates:

​

​	​	​	​	​
​	​	​	​	Effect on profit
​	​	Increase/decrease of	​	(loss) before
​		LIBOR		income tax
​	​	(percentage rates)	​	US$(000)
2022	​	​	​	​
Interest rate		10	%	(1,315)
Interest rate		(10)	%	1,315
​	​	​	​	​
2021	​	​	​	​
Interest rate		10	%	(1,414)
Interest rate		(10)	%	1,414
​	​	​	​	​
2020	​	​	​	​
Interest rate		10	%	(81)
Interest rate		(10)	%	81

​

Schedule of information about the credit risk exposure

Set out below is the information about the credit risk exposure on the Group’s trade and other receivables:

​

​	​	​	​	​	​	​	​	​	​	​	​
​		​	​	Days past due
​	​	Current	​	< 30 days	​	30 – 90 days	​	> 90 days	​	Total
​		US$(000)		US$(000)		US$(000)		US$(000)		US$(000)
As of December 31, 2022 -											​
Trade receivables		146,070		—		—		22,276		168,346	​
Other receivables		749,456		—		—		4,106		753,562	​
​		895,526		—		—		26,382		921,908	​
Expected credit loss rate	​	0	%	0	%	0	%	100	%	—	​
Expected credit loss	​	—		—		—		(26,382)		(26,382)	​
​	​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2021 -											​
Trade receivables		149,394		—		—		22,276		171,670	​
Other receivables		726,870		—		—		8,621		735,491	​
​	​	876,264	​	—	​	—	​	30,897	​	907,161	​
Expected credit loss rate	​	0	%	0	%	0	%	100	%	—	​
Expected credit loss	​	—		—		—		(30,897)		(30,897)	​

​

Schedule of financial liabilities by remaining maturity

An analysis of the Group’s financial liabilities classified according to their aging is presented below, based on undiscounted contractual payments:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	More than 5	​	​
​		Less than		Between 1		Between 2		years		Total
​	​	1 year	​	and 2 years	​	and 5 years	​	( 2028 and	​	​
​	​	(2023)	​	(2024)	​	(2025 to 2027)	​	thereafter)	​	​
​	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2022-	​	​	​	​	​	​	​	​	​	​
Bank loans – capital		—	​	—	​	—	​	—	​	—
Bank loans – interest		—	​	—	​	—	​	—	​	—
Trade and other payables		240,737	​	—	​	—	​	—	​	240,737
Financial obligation – capital	​	31,034	​	104,159	​	598,568	​	—	​	733,761
Financial obligation – interest	​	39,256	​	45,770	​	64,279	​	—	​	149,305
Lease – capital	​	3,638	​	2,282	​	2,794	​	4,238	​	12,952
Lease – interest		42	​	18	​	242	​	1,136	​	1,438
Hedge derivative financial instruments	​	—	​	—	​	—	​	—	​	—
Contingent consideration liability		—	​	—	​	11,937	​	31,934	​	43,871
​	​	​	​	​	​	​	​	​	​	​
​	​	314,707	​	152,229	​	677,820	​	37,308	​	1,182,064
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2021 -	​	​	​	​	​	​	​	​	​	​
Bank loans – capital		50,000		—		—		—		50,000
Bank loans – interest	​	820	​	—	​	—	​	—	​	820
Trade and other payables		248,033		—		—		—		248,033
Financial obligation – capital		175,620	​	106,784	​	774,102	​	—	​	1,056,506
Financial obligation – interest	​	43,313	​	40,803	​	99,634	​	—	​	183,750
Lease – capital	​	3,906	​	1,822	​	51	​	—	​	5,779
Lease – interest	​	74	​	95	​	—	​	—	​	169
Hedge derivative financial instruments	​	6,976	​	—	​	—	​	—	​	6,976
Contingent consideration liability		—		—		7,032		33,702		40,734
​	​	​	​	​	​	​	​	​	​	​
​		528,742		149,504		880,819		33,702		1,592,767

​

Sociedad Minera Cerro Verde S.A.A.

Disclosure of financial risk management objectives and policies [Line Items]

Schedule of foreign-currency exchange rates risk

​

​	​	​
​		Effect on profit
​	​	before income tax
​	​	US$(000)
​	​	​
December 31, 2022	​	​
10% increase in future copper prices		123,181
10% decrease in future copper prices		(123,181)

​

​	​	​
December 31, 2021	​	​
10% increase in future copper prices		140,420
10% decrease in future copper prices		(140,420)

​

​	​	​
December 31, 2020
10% increase in future copper prices		112,080
10% decrease in future copper prices		(112,080)

​

​

​	​	​	​	​	​
​		Exchange-rate		Effect on profit (loss)
​	​	increase/decrease	​	before income tax	​
​	​	​	​	US$(000)
​	​	​	​	​	​
2022	​	​	​	​	​
Exchange rate	​	5	%	(23,801)	​
Exchange rate	​	(5)	%	23,801	​
​	​	​	​	​	​
2021	​	​	​	​	​
Exchange rate		5	%	(7,782)	​
Exchange rate		(5)	%	7,782	​
​		​		​	​
2020		​		​	​
Exchange rate		5	%	20,656	​
Exchange rate		(5)	%	(20,656)	​

​

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The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity’s financial assets and commitments to extend credit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Number 7
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