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Other operating expenses (Tables)
12 Months Ended
Dec. 31, 2022
Sociedad Minera Cerro Verde S.A.A.  
Disclosure Other operational expenses [Line Items]  
Schedule of other operating expenses

This item is made up as follows:

    

For the year ended

    

For the year ended

    

For the year ended

December 31, 2022

December 31, 2021

December 31, 2020

US$(000)

US$(000)

US$(000)

Royalty non-income tax (a)

9,238

10,780

Optimization and prefeasibility/feasibility studies (b)

8,905

5,929

8,429

Exploration expenses

4,973

170

217

Tax contingencies

 

1,078

 

1,903

 

704

Other expenses

18

508

1,208

Excess of salary limit in workers profit sharing (c)

17,146

 

24,212

 

8,510

 

38,484

(a)

Represents current year mining royalties calculated based on revenues according to applicable tax rules (see Note 13(d)).

(b)

Primarily represents charges related to projects for the optimization of the Company’s operating processes.

(c)

Corresponds to the excess of salary limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO), and it’s related to adjustments of previous years income tax assessments (recognized in 2020 primarily as a result of the international arbitration proceeding initiated by the Company.