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Deferred income tax (Tables) | 12 Months Ended
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Dec. 31, 2023
Deferred income tax |
Schedule of temporary difference, unused tax losses and unused tax credits |
| (a) | The Group recognizes the effects of timing differences between the accounting and tax basis. This caption is made up as follows:
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Credit (debit) to | ​ | Credit (debit) to | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | consolidated | ​ | consolidated |  | ​ |  | ​ |  | Credit (debit) to | ​ | ​ |  | ​
​ |  | ​ |  | Credit (debit) to |  | Credit (debit) to |  | statements of | ​ | statements of |  | ​ |  | Credit (debit) to |  | consolidated | ​ | ​ |  | ​
​ | ​ | As of |  | consolidated |  | discontinued | ​ | changes in | ​ | other | ​ | As of |  | consolidated |  | statements of other | ​ | ​ | ​ | As of
​ | ​ | January 1, | ​ | statement of profit | ​ | operations (note | ​ | equity (note | ​ | comprehensive | ​ | December 31, | ​ | statement of profit | ​ | comprehensive | ​ | ​ | ​ | December 31,
​ |  | 2022 |  | or loss |  | 1(e)) |  | 1(d)) | ​ | income |  | 2022 |  | or loss |  | income | ​ | Others |  | 2023
​ |  | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) | ​ | US$(000) |  | US$(000) |  | US$(000) |  | US$(000) | ​ | US$(000) |  | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred asset for income tax | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tax - loss carryforwards |  | 186,881 |  | 16,450 |  | — |  | (13,372) | ​ | — |  | 189,959 |  | 11 |  | — | ​ | — |  | 189,970
Difference in depreciation and amortization rates |  | 52,497 |  | (9,705) |  | — |  | — | ​ | — |  | 42,792 |  | 1,633 |  | — | ​ | — |  | 44,425
Provision for closure of mining units, net |  | 30,351 |  | (1,660) |  | — |  | — | ​ | — |  | 28,691 |  | 3,887 |  | — | ​ | — |  | 32,578
Provision for impairment of value of inventory |  | 9,008 |  | (254) |  | — |  | — | ​ | — |  | 8,754 |  | 1,831 |  | — | ​ | — |  | 10,585
Contingent consideration liability | ​ | 5,227 | ​ | (228) | ​ | — | ​ | — | ​ | — | ​ | 4,999 | ​ | 1,392 | ​ | — | ​ | — | ​ | 6,391
Provision for bonuses to employees and officers | ​ | 5,696 | ​ | (2,724) | ​ | — | ​ | — | ​ | — | ​ | 2,972 | ​ | (494) | ​ | — | ​ | — | ​ | 2,478
Impairment loss of long-lived assets provision | ​ | 1,930 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 1,930 | ​ | — | ​ | — | ​ | — | ​ | 1,930
Contractors claims provisions | ​ | 5,236 | ​ | (4,100) | ​ | — | ​ | — | ​ | — | ​ | 1,136 | ​ | (765) | ​ | — | ​ | — | ​ | 371
Provision for sale of investment in associate |  | 50,444 |  | — |  | (50,444) |  | — | ​ | — |  | — |  | — |  | — | ​ | — |  | —
Other |  | 9,565 |  | 2,133 |  | — |  | — | ​ | — |  | 11,698 |  | (1,065) |  | — | ​ | — |  | 10,633
​ |  | 356,835 |  | (88) |  | (50,444) |  | (13,372) | ​ | — |  | 292,931 |  | 6,430 |  | — | ​ | — |  | 299,361
Derivative financial instruments |  | 2,058 |  | — |  | — |  | — | ​ | (2,058) |  | — |  | — |  | — | ​ | — |  | —
​ |  | 358,893 |  | (88) |  | (50,444) |  | (13,372) | ​ | (2,058) |  | 292,931 |  | 6,430 |  | — | ​ | — |  | 299,361
Deferred assets for mining royalties and special mining tax | ​ | — | ​ | 51 | ​ | — | ​ | — | ​ | — | ​ | 51 | ​ | (42) | ​ | — | ​ | — | ​ | 9
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​ |  | ​ |  | ​ | ​ | ​ |  | ​
Total deferred asset |  | 358,893 |  | (37) |  | (50,444) |  | (13,372) | ​ | (2,058) |  | 292,982 |  | 6,388 |  | — | ​ | — |  | 299,370
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred liability for income tax | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of translation into U.S. dollars |  | (88,054) |  | 20,153 |  | 9,030 |  | — | ​ | — |  | (58,871) |  | 11,222 |  | — | ​ | — |  | (47,649)
Differences in amortization rates for development costs |  | (64,278) |  | (1,682) |  | — |  | — | ​ | — |  | (65,960) |  | (9,148) |  | — | ​ | — |  | (75,108)
Difference in depreciation and amortization rates | ​ | (49,113) | ​ | (10,509) | ​ | — | ​ | — | ​ | — | ​ | (59,622) | ​ | 14,355 | ​ | — | ​ | — | ​ | (45,267)
Fair value of mining concessions | ​ | (14,898) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (14,898) | ​ | 6 | ​ | — | ​ | — | ​ | (14,892)
Withdrawal of the sale of Contacto Corredores de Seguros S.A. investment | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (1,220) | ​ | (1,220)
Other |  | (24,662) |  | 7,575 |  | — |  | — | ​ | — |  | (17,087) |  | 3,328 |  | — | ​ | — |  | (13,759)
​ | ​ | (241,005) | ​ | 15,537 | ​ | 9,030 | ​ | — | ​ | — | ​ | (216,438) | ​ | 19,763 | ​ | — | ​ | (1,220) | ​ | (197,895)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments | ​ | — | ​ | — | ​ | — | ​ | — | ​ | (2,608) | ​ | (2,608) | ​ | — | ​ | 2,608 | ​ | — | ​ | —
​ | ​ | (241,005) | ​ | 15,537 | ​ | 9,030 | ​ | — | ​ | (2,608) | ​ | (219,046) | ​ | 19,763 | ​ | 2,608 | ​ | (1,220) | ​ | (197,895)
Deferred liability for mining royalties and special mining tax | ​ | (279) | ​ | 92 | ​ | — | ​ | — | ​ | — | ​ | (187) | ​ | 161 | ​ | — | ​ | — | ​ | (26)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred liability |  | (241,284) |  | 15,629 |  | 9,030 |  | — | ​ | (2,608) |  | (219,233) |  | 19,924 |  | 2,608 | ​ | (1,220) |  | (197,921)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred income tax asset, net |  | 117,609 |  | 15,592 |  | (41,414) |  | (13,372) | ​ | (4,666) |  | 73,749 |  | 26,312 |  | 2,608 | ​ | (1,220) |  | 101,449
​
Schedule of detailed information about net deferred tax asset | ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
​ | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​
Deferred income tax asset, net |  | 131,863 |  | 106,170
Deferred income tax liability, net |  | (30,414) |  | (32,421)
​ | ​ | ​ | ​ | ​
​ |  | 101,449 |  | 73,749
Schedule of detailed information about provision for income taxes |
| (c) | The following is the composition of the provision for income taxes shown in the consolidated statement of income for the years 2023, 2022 and 2021:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense | ​ | ​ | ​ | ​ | ​ | ​
Current |  | (63,782) |  | (12,091) |  | (13,128)
Deferred |  | 26,193 |  | 15,449 |  | 43,951
​ |  | (37,589) |  | 3,358 |  | 30,823
Mining Royalties and Special Mining Tax | ​ | ​ | ​ | ​ | ​ | ​
Current |  | (5,524) |  | (3,542) |  | (7,247)
Deferred |  | 119 |  | 143 |  | 95
​ |  | (5,405) |  | (3,399) |  | (7,152)
​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax |  | (42,994) |  | (41) |  | 23,671
Schedule of reconciliation of accounting profit multiplied by applicable tax rates |
| (d) | Below is a reconciliation of tax benefit (expense) and the accounting profit (loss) before income tax multiplied by the statutory tax rate for the years 2023, 2022 and 2021:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Profit (loss) before income tax |  | 82,524 | ​ | 124,429 | ​ | 101,129
Profit (loss) from discontinued operations before income tax |  | (6,848) | ​ | 564,708 | ​ | (429,018)
​ |  | ​ | ​ | ​ | ​ | ​
Profit (loss) before income tax | ​ | 75,676 | ​ | 689,137 | ​ | (327,889)
​ |  | ​ | ​ | ​ | ​ | ​
Theoretical income tax benefit (expense) | ​ | (22,324) | ​ | (203,295) | ​ | 96,727
​ |  | ​ | ​ | ​ | ​ | ​
Permanent items and others: |  | ​ | ​ | ​ | ​ | ​
Share in the results of associates and joint venture | ​ | 44,906 | ​ | 52,000 | ​ | 70,933
Effect of translation into U.S. dollars | ​ | 11,222 | ​ | 20,153 | ​ | (895)
Exchange rate effect of permanent items | ​ | (15,821) | ​ | (14,051) | ​ | (9,001)
Liability related to the tax claim of the years 2009-2010, note 29(d) |  | (20,075) | ​ | — | ​ | —
Non-deductible work-in-process write - off |  | — | ​ | (4,839) | ​ | —
Income tax from previous years | ​ | — | ​ | (1,982) | ​ | —
Mining royalties and special mining tax | ​ | (554) | ​ | (837) | ​ | (3,253)
Investment in associate available for sale |  | — | ​ | 83,192 | ​ | (83,192)
Non-deductible expenses | ​ | 12,948 | ​ | (13,144) | ​ | 2,048
Non-deductible deferred tax for striping cost |  | — | ​ | — | ​ | (1,130)
Income tax income (expense) |  | 10,302 | ​ | (82,803) | ​ | 72,237
Income tax of tax claim, note 31(b) |  | (45,126) | ​ | — | ​ | —
Mining Royalties and Special Mining Tax |  | (6,150) | ​ | (3,399) | ​ | (7,152)
Total income tax | ​ | (40,974) | ​ | (86,202) | ​ | 65,085
​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax from continuing operations | ​ | (42,994) | ​ | (41) | ​ | 23,671
Income tax from discontinued operations | ​ | 2,020 | ​ | (86,161) | ​ | 41,414
​ | ​ | (40,974) | ​ | (86,202) | ​ | 65,085

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