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Trade and other receivables, net (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other receivables, net

Schedule of trade and other receivables, net


		2023		2022
		US$(000)		US$(000)
Trade receivables (b)
Domestic clients		157,296		127,750
Foreign clients		46,051		40,229
Related entities, note 32(b)		421		367
		203,768		168,346
Allowance for expected credit losses (h)		(22,276)		(22,276)
		181,492		146,070
Other receivables
Tax claims (c)		546,385		631,982
Value added tax credit		66,515		52,589
Other accounts receivables to third parties		27,585		30,175
Accounts receivable from Howden Hodco Perú (i), notes 1(d) and 29(a)		12,564		—
Advances to suppliers		6,810		14,392

Tax deposits (d)		3,075		8,296
Due from for sales of assets (e)		2,744		2,119
Interest receivable		2,634		2,305
Refund applications of value added tax (f)		2,591		2,856
Related entities, note 32(b)		2,486		2,842
Bank accounts in trust (g)		1,058		1,092
Loans to personnel		574		629
Loans to third parties		555		365
Closed hedging financial instruments receivable, note 34(b)		—		2,506
Public Works Tax Deduction		—		1,196
Other		272		218
		675,848		753,562
Allowance for expected credit losses (h)		(4,141)		(4,106)
		671,707		749,456
Total trade and other receivables		853,199		895,526

Classification by maturity:
Current portion		240,319		221,899
Non-current portion		612,880		673,627
Total trade and other receivables		853,199		895,526

Classification by nature:
Financial receivables		237,708		206,903
Non-financial receivables		615,491		688,623
Total trade and other receivables		853,199		895,526

Classification by measurement:
Trade receivables (not subject to provisional pricing)		55,906		16,503
Trade receivables (subject to provisional pricing)		125,586		129,567
Other accounts receivables		671,707		749,456
Total trade and other receivables		853,199		895,526

See related accounting policies in Note 2.4 (b).

(b)

Trade accounts receivable are denominated in U.S. dollars, are neither due nor impaired (except for those included in the Group’s allowance for expected credit losses, see (i)) do not yield interest and have no specific guarantees.

(c)

Corresponds to forced payments of tax debts that are in litigation and that, in the opinion of management and its legal advisors, a favorable result should be obtained in the judicial and administrative processes that have been initiated, see note 31(d):


		Payment		2023		2022
Detail		Date		US$(000)		US$(000)

Buenaventura (c.1) -
Payment of tax debt for fiscal year 2007 - 2008		July 2021		426,374		414,841
Payment of tax debt for fiscal year 2010		July 2021		96,273		93,669
Payment of tax debt for fiscal year 2009		July 2021		52,199		50,787
SUNAT seizure for payment on account from January to December 2009; January and February 2010		December 2019		32,459		31,581
Payment of part of the tax liability debt for fiscal year 2007		November - December 2020		19,451		18,925
SUNAT seizure for payment on account on Income Tax 2007-2008-2009		January 2021		5,174		5,035
Payment in claim to SUNAT for the year 2018		August 2023		3,306		—
Payment of tax debt for fiscal year 2017		December 2022		2,490		2,422
Payment of the tax liability debt imputed by SUNAT in the IGV inspection process January-December 2014 to benefit from the gradual nature of the fine		November 2020		1,280		1,246
Payment of part of the tax debt for fiscal year 2010		December 2020		486		474
Payment in claim to SUNAT for the year 2014		June 2023		236		—

Payment in claim to the Tax Administration				639,728		618,980
Liability attributable to Inminsur absorbed by Buenaventura, for the audit process of the periods 1996-1997 and claimed in judicial instances		May 2017		809		787
Payment in claim to OSINERGMIN for the year 2015		December 2022		638		621
Payment in claim to OSINERGMIN for the year 2014		August 2021		630		612
Payment in claim to Oyon Municipality		December 2020		519		504
Other claims				2,596		2,524
				642,324		621,504
El Brocal -
Payment under protest of the tax liability for fiscal year 2017		October 2023		6,079		—
Forced payment of part of the tax debt for fiscal year 2014.		January 2021		1,314		1,278
Payment of the fine for the benefit of reducing the fine for fiscal year 2015.		January 2020		269		262
				7,662		1,540
Río Seco -
Forced payment of part of the VAT liability for 2012.		July to September 2019		3,232		3,238
Forced payment of part of the tax debt for fiscal year 2020.		November 2022		620		609
Payment in force as part of the tax liability of year 2020		February 2020		4		—
				3,856		3,847
Huanza -
Payment under protest of the tax liability for fiscal year 2014		December 2022		1,644		1,600

La Zanja -
SUNAT seizure for income tax for fiscal year 2016		October 2022		2,418		2,353
Forced payment of part of the tax debt for fiscal year 2013-2015.		April 2021		826		804
Forced payment of part of the tax debt for fiscal year 2019		December 2023		494		—
				3,738		3,157
Chaupiloma -
SUNAT seizure for income tax for fiscal year 2011		September 2021		339		334
				659,563		631,982

(c.1)

During the year 2023, Buenaventura recognized a liability related to the tax claims of the previous years for a total of US$113,178,000:


				Tax claim liability,		Tax claims as
		Disbursements		note 31(d)		31.12.2023
Years		US$(000)		US$(000)		US$(000)

2007		183,516		—		183,516
2008		262,408		—		262,408
2009		86,170		(35,223)		50,947
2010		100,322		(77,955)		22,367
2014		1,516		—		1,516
2017		2,490		—		2,490
2018		3,306		—		3,306
Buenaventura’s forced payments claimed		639,728		(113,178)		526,550
Other Buenaventura’s claims		2,596		—		2,596
Other Buenaventura’s subsidiaries forced payments claimed		17,239		—		17,239
Total		659,563		(113,178)		546,385

(d)

Corresponds to deposits held in the Peruvian State bank and that in accordance with the tax law of Peru which only can be used to offset tax obligations that the Group has with the Tax Authorities.

(e)

As of December 31, 2023 and 2022, the balance also includes the account receivable related to the sale of mining concessions from the subsidiary Chaupiloma to Yanacocha for US$1.9 million (note 1(e)).

Likewise, during 2023 and 2022, the Group recorded a loss of US$2 million presented in “Others, net” caption, see note 28, related to the sale of Mallay mining unit (original amount of US$7.3 million), which were transferred to a third-party and collected during May 2022 in exchange for US$6 million.

(f)

Corresponds mainly to current year refunds applications that are pending as of December 31 of each period.

(g)

Corresponds mainly to collections that are deposited into restricted bank accounts that only can be used for the payment of financial obligations held by the subsidiary Empresa de Generación Huanza S.A. (hereafter “Huanza”), according to the finance lease signed with Banco de Crédito del Perú in 2009. Below is presented the movement:

Schedule of allowance for doubtful accounts


		2023		2022		2021
		US$(000)		US$(000)		US$(000)

Beginning balance		26,382		30,897		31,845

Provision for other receivables, note 28(a)		—		253		409
Provision of the year		—		253		409
Foreign exchange difference		35		(59)		(197)
Write off		—		(4,709)		(1,160)
Final balance		26,417		26,382		30,897

Trade receivables		22,276		22,276		22,276
Other receivables		4,141		4,106		8,621

		26,417		26,382		30,897

Schedule of restricted bank accounts for payments of financial obligation explanatory


		2023		2022		2021
		US$(000)		US$(000)		US$(000)

Beginning balance		1,092		359		376
Increase		—		733		—
Decrease		(34)		—		(17)
Final balance		1,058		1,092		359

Schedule of Tax claims of previous years


				Tax claim liability,		Tax claims as
		Disbursements		note 31(d)		31.12.2023
Years		US$(000)		US$(000)		US$(000)

2007		183,516		—		183,516
2008		262,408		—		262,408
2009		86,170		(35,223)		50,947
2010		100,322		(77,955)		22,367
2014		1,516		—		1,516
2017		2,490		—		2,490
2018		3,306		—		3,306
Buenaventura’s forced payments claimed		639,728		(113,178)		526,550
Other Buenaventura’s claims		2,596		—		2,596
Other Buenaventura’s subsidiaries forced payments claimed		17,239		—		17,239
Total		659,563		(113,178)		546,385