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Investments in associates and joint venture (Tables)

12 Months Ended

Dec. 31, 2023

Investments in associates and joint ventures

Schedule of interests in associates and joint ventures

​

​	​	​	​	​	​	​	​	​
​	​	Share in equity			​	​	​	​
​		2023		2022		2023		2022
​	​	%	​	%	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​
Associates:	​	​	​	​	​	​	​	​
Sociedad Minera Cerro Verde S.A.A.		19.58		19.58		1,416,051		1,408,260
Compañía Minera Coimolache S.A.		40.10		40.10		99,059		98,388
Tinka Resources Ltd.	​	19.32	​	19.32		9,221		10,678
​	​	​	​	​	​	1,524,331	​	1,517,326
Joint venture (d)	​	​	​	​		1,628		2,486
Other minor investments	​	​	​	​		1,164		1,165
​	​	​	​	​		1,527,123		1,520,977

Schedule of net share in profit (loss) of investments

​

​	​	​	​	​	​	​
​		2023		2022		2021
​	​	US$(000)	​	US$(000)	​	US$(000)
Associates	​	​	​	​	​	​
Sociedad Minera Cerro Verde S.A.A.		152,552		181,221		233,342
Compañía Minera Coimolache S.A.		1,072		(2,493)		8,170
Tinka Resources Ltd.	​	(1,320)	​	(2,447)	​	(1,098)
​	​	152,304	​	176,281	​	240,414
Joint venture	​	(79)	​	(11)	​	36
​		152,225		176,270		240,450

Schedule of financial position of associate under equity method

​

The table below presents the key financial data from the joint venture under IFRS:

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Statements of financial position as of December 31:	​	​	​	​
Current assets		17,375		14,760
Non-current assets		67,589		87,692
Current liabilities		(12,896)		(17,608)
Non-current liabilities		(50,572)		(53,768)
Equity	​	21,496	​	31,076
​	​	​	​	​
Group’s interest	​	1,628	​	2,486

​

​	​	​	​	​	​	​
​	​	2023		2022		2021
​		US$(000)		US$(000)		US$(000)
Statements of profit or loss for the years ended December 31:
​	​	​	​	​	​	​
Net revenues		98,270		27,538		22,937
​	​	​	​	​	​	​
Net profit (loss)		(148)		(137)		450
Group’s share in results		(79)		(11)		36

Summary of changes in investments in associates and joint venture

​

​	​	​	​	​
​	​	2023		2022
​		US$(000)		US$(000)
​	​	​	​	​
As of January 1,		1,520,977	​	1,422,295
Net share in profit of associates and joint venture		152,225		176,270
Equity contributions granted and paid, note 32(a)		—		1,677
Dividends declared and collected, note 32(a)		(147,286)		(79,140)
Unrealized results on investments		3		(101)
Translation adjustments and other		1,204	​	(24)
As of December 31,		1,527,123	​	1,520,977

​

Sociedads Minera Cerro Verde S.A.A.

Investments in associates and joint ventures

Schedule of net share in profit (loss) of investments

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Statements of financial position as of December 31:	​	​	​	​
Current assets		1,789,427		1,946,762
Non-current assets		6,141,483		6,047,101
Current liabilities		(460,991)		(564,058)
Non-current liabilities		(789,545)		(778,378)
​	​	​	​	​
Equity		6,680,374		6,651,427
​	​	​	​	​
Group’s interest	​	1,308,288	​	1,300,497
Goodwill	​	107,763	​	107,763
​	​	1,416,051	​	1,408,260

Schedule of financial position of associate under equity method

The table below presents the key financial data from the financial statements of Cerro Verde under IFRS:

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Statements of financial position as of December 31:	​	​	​	​
Current assets		1,789,427		1,946,762
Non-current assets		6,141,483		6,047,101
Current liabilities		(460,991)		(564,058)
Non-current liabilities		(789,545)		(778,378)
​	​	​	​	​
Equity		6,680,374		6,651,427
​	​	​	​	​
Group’s interest	​	1,308,288	​	1,300,497
Goodwill	​	107,763	​	107,763
​	​	1,416,051	​	1,408,260

Compania Minera Coimolache S.A.

Investments in associates and joint ventures

Schedule of net share in profit (loss) of investments

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Statements of financial position as of December 31:	​	​	​	​
Current assets		242,490		208,382
Non-current assets		133,463		154,399
Current liabilities		(26,977)		(21,565)
Non-current liabilities		(101,909)		(95,822)
​	​	​	​	​
Equity		247,067		245,394
​	​	​	​	​
Group’s interest		99,059		98,388

Schedule of financial position of associate under equity method

The table below presents the key financial data from the financial statements of Coimolache under IFRS:

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
​	​	​	​	​
Statements of financial position as of December 31:	​	​	​	​
Current assets		242,490		208,382
Non-current assets		133,463		154,399
Current liabilities		(26,977)		(21,565)
Non-current liabilities		(101,909)		(95,822)
​	​	​	​	​
Equity		247,067		245,394
​	​	​	​	​
Group’s interest		99,059		98,388

Tinka resources Ltd

Investments in associates and joint ventures

Schedule of financial position of associate under equity method

The table below presents the key financial data from the financial statements of Tinka under IFRS in 2023 and 2022 (financial statements as of September 30, 2023 and 2022) and in 2021 (financial statements as of November 30, 2021):

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
Statements of financial position:		​	​
Current assets		5,591	​	13,007
Non-current assets		42,475	​	42,735
Current liabilities		(350)	​	(473)
Equity		47,716	​	55,269
​	​	​	​	​
Group’s interest		9,221	​	10,678

Schedule of statements of profit or loss

​

​	​	​	​	​
​		2023		2022
​	​	US$(000)	​	US$(000)
Statements of financial position:		​	​
Current assets		5,591	​	13,007
Non-current assets		42,475	​	42,735
Current liabilities		(350)	​	(473)
Equity		47,716	​	55,269
​	​	​	​	​
Group’s interest		9,221	​	10,678

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-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph 2
-Subparagraph b
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_2_b_ii&doctype=Standard
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