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Financial - risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure of financial risk management objectives and policies [Line Items]

Schedule of foreign-currency exchange rates risk

A table showing the effect on results of a reasonable change in foreign-currency exchange rates is presented below, with all other variables kept constant:

​

​	​	​	​	​
​	​	Exchange-rate	​	Effect on profit (loss)
​		increase/decrease		before income tax
​	​	​	​	US$(000)
2023
Exchange rate		10	%	66,003
Exchange rate		(10)	%	(66,003)
​	​	​	​	​
2022
Exchange rate		10	%	58,032
Exchange rate		(10)	%	(58,032)
​	​	​	​	​
2021
Exchange rate		10	%	56,122
Exchange rate		(10)	%	(56,122)

Schedule of interest rates risk

A table showing the effect in profit or loss of the variations of interest rates:

​

​	​	​	​	​
​	​	​	​	Effect on profit
​	​	Increase/decrease of	​	(loss) before
​		LIBOR/SOFR		income tax
​	​	(Percentage rates)	​	US$(000)
2023	​	​	​	​
Interest rate		10	%	24
Interest rate		(10)	%	(24)
​	​	​	​	​
2022	​	​	​	​
Interest rate		10	%	(1,315)
Interest rate		(10)	%	1,315
​	​	​	​	​
2021	​	​	​	​
Interest rate		10	%	(1,414)
Interest rate		(10)	%	1,414

Schedule of information about the credit risk exposure

Set out below is the information about the credit risk exposure on the Group’s trade and other receivables:

​

​	​	​	​	​	​	​	​	​	​	​
​		​	​	Days past due
​	​	Current	​	< 30 days	​	30 – 90 days	​	> 90 days	​	Total
​		US$(000)		US$(000)		US$(000)		US$(000)		US$(000)
As of December 31, 2023 -
Trade receivables		181,492		—		—		22,276		203,768
Other receivables		671,707		—		—		4,141		675,848
​		853,199		—		—		26,417		879,616
Expected credit loss rate	​	0	%	0	%	0	%	100	%	—
Expected credit loss	​	—		—		—		(26,417)		(26,417)
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2022 -
Trade receivables		146,070		—		—		22,276		168,346
Other receivables		749,456		—		—		4,106		753,562
​	​	895,526	​	—	​	—	​	26,382	​	921,908
Expected credit loss rate	​	0	%	0	%	0	%	100	%	—
Expected credit loss	​	—		—		—		(26,382)		(26,382)

Schedule of financial liabilities by remaining maturity

An analysis of the Group’s financial liabilities classified according to their aging is presented below, based on undiscounted contractual payments:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	More than 5	​	​
​		Less than		Between 1		Between 2		years		Total
​	​	1 year	​	and 2 years	​	and 5 years	​	( 2029 and	​	​
​	​	(2024)	​	(2025)	​	(2026 to 2028)	​	thereafter)	​	​
​	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)	​	US$(000)
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2023 -	​	​	​	​	​	​	​	​	​	​
Trade and other payables		288,570	​	—	​	—	​	—	​	288,570
Financial obligation – capital	​	31,034	​	97,409	​	574,194	​	—	​	702,637
Financial obligation – interest	​	37,453	​	40,066	​	31,093	​	—	​	108,612
Lease – capital	​	3,429	​	1,515	​	2,523	​	2,853	​	10,320
Lease – interest		239	​	256	​	757	​	1,979	​	3,231
Contingent consideration liability		—	​	—	​	13,274	​	35,513	​	48,787
​	​	​	​	​	​	​	​	​	​	​
​	​	360,725	​	139,246	​	621,841	​	40,345	​	1,162,157
​	​	​	​	​	​	​	​	​	​	​
As of December 31, 2022 -	​	​	​	​	​	​	​	​	​	​
Trade and other payables		240,737		—		—		—		240,737
Financial obligation – capital		31,034	​	104,159	​	598,568	​	—	​	733,761
Financial obligation – interest	​	39,256	​	45,770	​	64,279	​	—	​	149,305
Lease – capital	​	3,638	​	2,282	​	2,794	​	4,238	​	12,952
Lease – interest	​	42	​	18	​	242	​	1,136	​	1,438
Contingent consideration liability		—		—		11,937		31,934		43,871
​	​	​	​	​	​	​	​	​	​	​
​		314,707		152,229		677,820		37,308		1,182,064

Sociedad Minera Cerro Verde S.A.A.

Disclosure of financial risk management objectives and policies [Line Items]

Schedule of foreign-currency exchange rates risk

​

​	​	​
​		Effect on profit
​	​	before income tax
​	​	US$(000)
​	​	​
December 31, 2023	​	​
10% increase in future copper prices		91,734
10% decrease in future copper prices		(91,734)

​

​	​	​
December 31, 2022	​	​
10% increase in future copper prices		123,181
10% decrease in future copper prices		(123,181)

​

​	​	​
December 31, 2021
10% increase in future copper prices		140,420
10% decrease in future copper prices		(140,420)

​

​

​	​	​	​	​
​		Exchange-rate		Effect on profit (loss)
​	​	increase/decrease	​	before income tax
​	​	​	​	US$(000)
​	​	​	​	​
2023	​	​	​	​
Exchange rate	​	5	%	(28,316)
Exchange rate	​	(5)	%	28,316
​	​	​	​	​
2022	​	​	​	​
Exchange rate		5	%	(23,801)
Exchange rate		(5)	%	23,801
​		​		​
2021		​		​
Exchange rate		5	%	(7,782)
Exchange rate		(5)	%	7,782

Schedule of financial liabilities by remaining maturity

The following tables show the expected aging of maturity of the Company’s obligations, excluding taxes, accruals and benefits to employees, as of December 31, 2023 and 2022:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

On demand

​

Less than 3 months

​

3 to 12 months

​

1 to 5 years

​

More than 5 years

​

Total

​

​

US$(000)

​

US$(000)

​

US$(000)

​

US$(000)

​

US$(000)

​

US$(000)

As of December 31, 2023

​

​

​

​

​

​

​

​

​

​

​

​

Trade accounts payable (see Note 8)

​

—

​

276,541

​

4,159

​

1,047

​

—

​

281,747

Accounts payable - related parties (see Note 4)

​

—

​

2,087

​

1,381

​

—

​

—

​

3,468

Lease liabilities (see Note 10)

—

1,420

8,489

49,683

—

59,592

Other accounts payable (see Note 9)

—

14,818

​

4,429

—

—

19,247

​

​

​

​

​

​

​

Total

​

294,866

18,458

50,730

—

364,054

​

​

​

​

​

​

​

​

​

​

As of December 31, 2022

​

​

​

​

​

​

​

​

​

​

​

​

Trade accounts payable (see Note 8)

​

—

​

316,460

​

2,923

​

1,017

​

—

​

320,400

Accounts payable - related parties (see Note 4)

​

—

​

1,740

​

1,434

​

—

​

—

​

3,174

Lease liabilities (see Note 10)

—

1,036

​

5,992

45,033

11,064

63,125

Other accounts payable (see Note 9)

—

15,293

45,339

—

—

60,632

​

​

​

​

​

​

​

​

Total

—

334,529

55,688

46,050

11,064

447,331

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-Number 7
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