Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

(a)

The composition and movement of the item as of the date of the consolidated statement of financial position is presented below:

	Mining concessions (b)			Mine development costs (b)			Land			Buildings and other construction		Machinery, equipment and related spare parts			Furniture and accessories			Transportation units			Computer equipment and tools			Quarry rehabilitation costs		Capitalized interest (f)		Work in progress (d) and units in transit			Total
	S/(000)			S/(000)			S/(000)			S/(000)		S/(000)			S/(000)			S/(000)			S/(000)			S/(000)		S/(000)		S/(000)			S/(000)

Cost

As of January 1, 2023		75,914			65,842			255,135			694,554		1,711,540			11,080			107,337			41,304			11,775		68,165		172,821			3,215,467
Additions		36,184			19,870			3,449			-		25,891			432			160			3,209			4,458		6,132		174,435			274,220
Sales and/or retirement		-			(101	)		-			-		(41,075	)		(162	)		(2,064	)		(316	)		-		-		(559	)		(44,277	)
Transfers, note 10		-			(14,521	)		-			127,675		186,727			(271	)		(50	)		990			-		-		(300,616	)		(66	)
As of December 31, 2023		112,098			71,090			258,584			822,229		1,883,083			11,079			105,383			45,187			16,233		74,297		46,081			3,445,344
Additions		-			1,023			1,827			-		20,710			872			2,472			4,164			1,465		-		40,788			73,321
Sales and/or retirement		(1,668	)		(247	)		(268	)		-		(1,056	)		(136	)		(4,825	)		(227	)		-		-		(1,149	)		(9,576	)
Transfers, note 10		-			(8,077	)		-			214,297		(162,491	)		149			2,063			1,603			-		-		(47,778	)		(234	)
As of December 31, 20234		110,430			63,789			260,143			1,036,526		1,740,246			11,964			105,093			50,727			17,698		74,297		37,942			3,508,855

Accumulated depreciation

As of January 1, 2023		12,400			10,868			-			176,478		783,525			8,408			79,014			25,429			2,522		10,542		-			1,109,186
Additions		72			422			-			20,113		98,915			516			6,252			3,606			128		1,625		-			131,649
Sales and/or retirement		-			(56	)		-					(22,620	)		(153	)		(1,896	)		(201	)		-		-		-			(24,926	)
Transfers, note 10		-			-			-			2,065		(2,030	)		-			(35	)		-			-		-		-			-
As of December 31, 2023		12,472			11,234			-			198,656		857,790			8,771			83,335			28,834			2,650		12,167		-			1,215,909
Additions		72			424			-			21,858		104,237			484			5,300			4,184			167		1,646		-			138,372
Sales and/or retirement		(259	)		-			-			-		(760	)		(124	)		(4,339	)		(207	)		-		-		-			(5,689	)
Transfers, note 10		-			(171	)		-			86,734		(86,431	)		-			-			-			-		-		-			132
As of December 31, 2024		12,285			11,487			-			307,248		874,836			9,131			84,296			32,811			2,817		13,813		-			1,348,724

Impairment (b)
As of January 1, 2023		42,859			24,048			3,624			13,579		12,918			200			26			454			-		-		735			98,443
Additions		9,197			525			361			17,459		17,669			8			1			-			-		1,413		2,686			49,319
Lows		-			-			-			-		(17,669	)		(8	)		(1	)		-			-		-		-			(17,678	)
As of December 31, 2023		52,056			24,573			3,985			31,038		12,918			200			26			454			-		1,413		3,421			130,084

Lows		(1,092	)		-			-			-		-			-			-			-			-		-		-			(1,092	)
As of December 31, 2024		50,964			24,573			3,985			31,038		12,918			200			26			454			-		1,413		3,421			128,992

Net book value
As of December 31, 2023		47,570			35,283			254,599			592,535		1,012,375			2,108			22,022			15,899			13,583		60,717		42,660			2,099,351

As of December 31, 2024		47,181			27,729			256,158			698,240		852,492			2,633			20,771			17,462			14,881		59,071		34,521			2,031,139

(b)

Mining concessions mainly include acquisitions costs related to coal concessions acquired in previous years and the cost of certain concessions acquired in January 2023 for exploration activities in areas of interest to the cement business for S/34,350,000, through the purchase of the company Corporación Materiales Piura S.A.C.

(c)

The Group has assessed the recoverable value of its remaining property, plant and equipment and, except as specifically mentioned in (g), has not identified indications of impairment losses for these assets as of December 31, 2024 and 2023.

(d)

Work in progress included in property, plant and equipment as of December 31, 2024 and 2023 is mainly related to complementary facilities of the cement plants.

(e)

As of December 31, 2024, the Group maintains accounts payable related to the acquisition of property, plant and equipment for S/17,122,000 (S/9,379,000 as of December 31, 2023), see note 11.

(f)

The borrowing costs are mainly related to the construction of the cement plant located in Piura and to a lesser extent to the construction of the Clinker Lines Optimization Project – Kiln 4 in the city of Pacasmayo. Both plants are already in operation.

(g)

In previous years management recognized a full impairment related to the total net book value of a closed zinc mining unit which included concession costs, development costs and related facilities and equipment.

At the end of 2023, Management recognized a specific impairment to retirement for the net value of the assets of the vertical clinker kilns located at the Pacasmayo cement plant for a net cost of S/36,551,000. This deterioration estimate was carried out as a consequence of replacing the old technology of these kilns due to the entry into operation of the Clinker Lines Optimization Project – Kiln 4 in said plant, which is more efficient and produces fewer emissions. This amount was recorded in the impairment of property, plant and equipment item in the consolidated statement of profit or loss.

Likewise, in that year, Management recognized an impairment to retirement of the value of the coal concessions (northern zone) for S/11,393,000, recorded in other operating income (expenses) item of the consolidated statement of profit or loss.