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Cost of sales of goods and services, without considering depreciation and amortization (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Disclosure of continuing involvement in derecognised financial assets [line items] |
Schedule of detailed information of cost of sale of goods and services |
| (a) | The cost of sales of goods is made up as follows:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance of finished goods and products in process, net of depreciation and amortization |  | 22,667 |  | 30,031 |  | 31,797
​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of production |  |  |  |  |  |
Services provided by third parties |  | 166,227 |  | 185,028 |  | 224,979
Consumption of materials and supplies |  | 93,407 |  | 94,929 |  | 107,908
Direct labor |  | 77,781 |  | 67,704 |  | 75,099
Short-term and low-value leases |  | 26,794 |  | 29,329 |  | 31,309
Electricity and water | ​ | 28,729 | ​ | 21,510 | ​ | 17,657
Maintenance and repair |  | 21,601 |  | 21,099 |  | 25,681
Insurance | ​ | 16,946 | ​ | 16,118 | ​ | 16,091
Transport |  | 13,589 |  | 13,528 |  | 17,449
Other | ​ | 4,510 | ​ | 6,404 | ​ | 17,263
Provision (reversal) for impairment of finished goods and product in progress, note 8(b) |  | 3,851 |  | (1,071) |  | (5,471)
Total cost of production |  | 453,435 |  | 454,578 |  | 527,965
Final balance of finished goods and products in process | ​ | (18,748) | ​ | (33,624) | ​ | (30,031)
Write – off of products in process | ​ | — | ​ | 10,957 | ​ | —
Final balance of finished goods and products in process, net of depreciation and amortization |  | (18,748) |  | (22,667) |  | (30,031)
Cost of sales of goods, without considering depreciation and amortization |  | 457,354 |  | 461,942 |  | 529,731
​ See related accounting policies in Note 2.4(x). ​
| (b) | The cost of services is made up as follows:
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Services provided by third parties |  | 4,266 |  | 1,681 |  | 594
Maintenance and repair |  | 982 |  | 46 |  | 31
Consumption of materials and supplies |  | 596 |  | 31 |  | 11
Insurances |  | 129 |  | 134 |  | 46
Direct labor |  | 121 |  | — |  | —
Electricity and water |  | 78 |  | 1,204 |  | 556
Transport |  | 6 |  | 14 |  | 9
Short-term and low-value lease | ​ | 6 | ​ | 3 | ​ | —
Other minor cost of services |  | 59 |  | 50 |  | 22
​ |  | 6,243 |  | 3,163 |  | 1,269
​
Sociedad Minera Cerro Verde S.A.A. |
Disclosure of continuing involvement in derecognised financial assets [line items] |
Schedule of detailed information about cost of sales | This item is made up as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended |  | For the year ended |  | For the year ended
​ | ​ | December 31, 2023 | ​ | December 31, 2022 | ​ | December 31, 2021
​ | ​ | US$(000) | ​ | US$(000) | ​ | US$(000)
​ | ​ | ​ | ​ | ​ | ​ | ​
Materials and supplies |  | 982,616 |  | 915,323 |  | 698,246
Property Plant and Equipment Depreciation (see Note 7 and 2(g)) |  | 530,199 |  | 489,700 |  | 470,228
Labor (a) |  | 381,761 |  | 343,575 |  | 425,524
Third-party services |  | 279,923 |  | 246,247 |  | 220,920
Energy |  | 249,039 |  | 243,549 |  | 194,982
Variable lease payments, low-value and short-term leases | ​ | 17,741 | ​ | 13,369 | ​ | 5,806
Change in finished goods inventory | ​ | 14,165 | ​ | (10,368) | ​ | (6,129)
Change in work in process inventory |  | 13,538 |  | (1,358) |  | (16,609)
Loss on materials obsolescence, net |  | 12,496 |  | 4,053 |  | 3,622
Depreciation for right-of-use assets (see Note 7) | ​ | 11,117 | ​ | 12,708 | ​ | 12,459
OEFA and OSINERGMIN contributions (b) | ​ | 8,015 | ​ | 9,308 | ​ | 10,334
Management fees |  | 3,098 |  | 2,540 |  | 2,352
Intangible amortization |  | 2,342 |  | 2,342 |  | 1,531
WIP stockpile write-offs (see Note 5 (b)) | ​ | 1,527 | ​ | 7,668 | ​ | —
Cost related to COVID-19 pandemic (c) | ​ | 817 | ​ | 43,672 | ​ | 89,050
Other costs | ​ | 47,658 | ​ | 45,439 | ​ | 42,772
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2,556,052 |  | 2,367,767 |  | 2,155,088
| (a) | For the year ended December 31, 2023, labor includes an expense of US$130.9 million related to profit sharing. For the year ended December 31 2022 and 2021 include and expense of US$118.2 million and US$156.2 million respectively coupled with a credit of S$3.1 million and an expense of US$2.6 million, respectively as a result of the recognition of lower contingent liabilities for prior years still open to review by the tax authority).
| (b) | The Company is subject to OEFA and OSINERGMIN royalties. These funds are used by these agencies as part of their operating budgets for investment supervision in energy and mining, as well as the environment. The calculation for the OSINERGMIN royalty is 0.14% of invoiced sales and the calculation for the OEFA royalty is 0.10% of invoiced sales for the years ended December 31, 2023, 2022 and 2021.
| (c) | For the year ended December 31, 2023, the expense is primarily related to medical response center service for suspected cases of COVID (for the year ended December 31, 2022, the expense is primarily related to medical tests, for the year ended December 31, 2021, the Company recognized expenses of US$89.1 million, mainly for labor costs associated with quartered-personnel at the mine site, including housing costs and medical tests). According to the Peruvian government’s Supreme Decree No. 008-2020, the declaration of COVID as a health emergency expired on May 25, 2023.

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