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Derivative financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of derivative financial instruments [Line Items] |
Schedule of detailed information about hedge derivatives financial instruments | The table below presents the composition of open transactions designated as hedging derivative financial instruments as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Quotations | ​ | ​
Quotation period |  | Concentrate |  | Metric tons |  | Fixed |  | Futures |  | Fair value
​ | ​ | ​ | ​ | ​ | ​ | US$/DMT(*) | ​ | US$/DMT(*) | ​ | US$(000)
January 2023 |  | Copper |  | 2,000 |  | 10,185 |  | 8,344 |  | 4,332
February 2023 |  | Copper |  | 1,500 |  | 10,109 |  | 8,350 |  | 1,867
March 2023 |  | Copper |  | 1,500 |  | 10,153 |  | 8,353 |  | 2,640
​ |  | ​ |  | 5,000 | ​ | ​ | ​ | ​ |  | 8,839
​ (*) DMT= Dry metric ton.
Sociedad Minera Cerro Verde S.A.A. |
Disclosure of derivative financial instruments [Line Items] |
Schedule of embedded derivatives | As discussed in Note 2(d), the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2023 and 2022, information about the Company’s embedded derivatives is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2023 |
​ | ​ | Pounds | ​ | ​ | ​ | Provisional | ​ | ​ | ​ | ​ |
​ | ​ | payable | ​ | Maturity | ​ | pricing | ​ | Forward pricing | ​ | Fair value |
​ |  | (000) |  | ​ |  | US$/Pound |  | US$/Pound | ​ | US$(000) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Copper Concentrate |  | 231,774 |  | January to May 2024 |  | Between 3.588 and 3.840 |  | Between 3.850 and 3.897 |  | 34,581 | ​
Copper Cathode |  | 5,072 |  | January 2024 |  | 3.869 |  | 3.850 |  | (95) | ​
Molybdenum |  | 2,173 |  | January to February 2024 |  | Between 15.251 and 17.803 |  | 17.395 |  | 2,384 | ​
Silver |  | 757 |  | January to May 2024 |  | Between 21.568 and 24.910 |  | Between 23.910 and 24.370 |  | 565 | (a)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 37,435 | (b)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | As of December 31, 2022 | ​
​ | ​ | Pounds | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | payable | ​ | Maturity | ​ | Provisional pricing | ​ | Forward pricing | ​ | Fair value | ​
​ |  | (000) |  | ​ |  | US$/Pound |  | US$/Pound |  | US$(000) |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Copper Concentrate |  | 320,095 |  | January to May 2023 |  | Between 3.448 and 3.807 |  | Between 3.798 and 3.799 |  | 63,335 |
Copper Cathode |  | 4,187 |  | January 2023 |  | Between 3.808 and 3.817 |  | 3.798 |  | (61) |
Molybdenum |  | 2,425 |  | January to February 2023 |  | Between 16.677 y 16.935 |  | 28.267 |  | 27,737 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 91,011 | (a)
(a) Beginning January 1, 2023, the Company records the impact of the embedded derivatives related to variation in the price of silver contained in the sale of copper concentrate. As of December 31, 2022 and 2021, the impact of the embedded derivatives related to the variation in the price of silver was immaterial to the financial statements. ​ (b) Embedded derivative adjustments are recorded on the statement of financial position in “Trade account receivable – related parties”.

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