Consolidated statements of cash flows - USD ($)
|
12 Months Ended |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
| Cash flows of operating activities |
|
|
|
| Profit for the year |
$ 416,263,000
|
$ 32,682,000
|
$ 602,935,000
|
| Proceeds from sales of goods and services |
1,142,569,000
|
782,421,000
|
809,668,000
|
| Dividends received from associates |
168,890,000
|
147,286,000
|
79,140,000
|
| Recovery of taxes |
35,455,000
|
48,417,000
|
32,793,000
|
| Interest received |
5,210,000
|
5,123,000
|
2,915,000
|
| Dividends received from other investments |
1,150,000
|
150,000
|
0
|
| Royalty received |
0
|
0
|
5,183,000
|
| Payments to suppliers and third parties, and other net |
(550,203,000)
|
(484,903,000)
|
(580,468,000)
|
| Payments to and for employees |
(149,482,000)
|
(136,612,000)
|
(123,903,000)
|
| Income tax and royalties paid to Peruvian State |
(58,918,000)
|
(30,049,000)
|
(82,637,000)
|
| Short-term and low value lease payments |
(47,746,000)
|
(42,264,000)
|
(41,352,000)
|
| Interest paid |
(38,172,000)
|
(39,590,000)
|
(41,132,000)
|
| Payments of royalties to third parties |
(15,832,000)
|
(12,832,000)
|
(11,053,000)
|
| Payments for tax litigation |
(6,862,000)
|
(10,115,000)
|
(7,488,000)
|
| Net increase (decrease) in operating liabilities: |
|
|
|
| Net cash flows generated from operating activities |
486,059,000
|
227,032,000
|
41,666,000
|
| Cash flows of investing activities |
|
|
|
| Proceeds from sale of property, plant and equipment |
11,131,000
|
9,689,000
|
13,116,000
|
| Collection for sale of participation in Yanacocha |
0
|
0
|
300,000,000
|
| Collection for purchase of Minera La Zanja S.R.L. shares |
0
|
0
|
45,000,000
|
| Payments for acquisition of property, plant and equipment |
(337,743,000)
|
(238,669,000)
|
(151,973,000)
|
| Payments for acquisition of other assets |
(2,506,000)
|
(3,804,000)
|
(290,000)
|
| Acquisition of investment in associate |
0
|
0
|
(1,677,000)
|
| Cash contribution in associate |
(400,000)
|
0
|
0
|
| Net cash flows from (used in) investing activities |
(117,924,000)
|
(205,536,000)
|
205,753,000
|
| Cash flows of financing activities |
|
|
|
| Proceeds from bank loans |
0
|
49,000,000
|
0
|
| Decrease of restricted time deposits |
0
|
0
|
29,117,000
|
| Senior notes bonds issued, net of issuance costs |
(79,602,000)
|
(31,034,000)
|
(323,057,000)
|
| Payments of financial obligations |
0
|
(49,000,000)
|
(50,000,000)
|
| Dividends paid to controlling interest |
(18,440,000)
|
(18,542,000)
|
(18,542,000)
|
| Lease payments |
(4,138,000)
|
(4,475,000)
|
(4,638,000)
|
| Dividends paid to non-controlling interest |
(7,343,000)
|
(1,607,000)
|
(2,647,000)
|
| Decrease (increase) of bank accounts in trust |
33,000
|
34,000
|
(733,000)
|
| Net cash flows used in financing activities |
(109,490,000)
|
(55,624,000)
|
(370,500,000)
|
| Increase (decrease) in cash and cash equivalents for the year, net |
258,645,000
|
(34,128,000)
|
(123,081,000)
|
| Cash and cash equivalents at beginning of year |
219,790,000
|
253,918,000
|
376,999,000
|
| Cash and cash equivalents at year-end |
478,435,000
|
219,790,000
|
253,918,000
|
| Financing and investing activities not affecting cash flows: |
|
|
|
| Leases additions |
497,000
|
1,137,000
|
11,712,000
|
| Due from for sales of properties and concessions |
100,000
|
2,744,000
|
2,119,000
|
| Changes in estimates of mine closure plans |
65,397,000
|
11,879,000
|
(21,869,000)
|
| Unrealized income (loss) in investments |
0
|
3,000
|
(101,000)
|
| Contacto Corredores de Seguros S.A. |
|
|
|
| Cash flows of investing activities |
|
|
|
| Proceeds from sale of investments in subsidiaries |
1,060,000
|
27,003,000
|
0
|
| S.M.R.L. Chaupiloma Dos de Cajamarca |
|
|
|
| Cash flows of investing activities |
|
|
|
| Proceeds from sale of investments |
210,534,000
|
245,000
|
1,577,000
|
| Sociedad Minera Cerro Verde S.A.A |
|
|
|
| Cash flows of operating activities |
|
|
|
| Profit for the year |
953,177,000
|
778,964,000
|
925,353,000
|
| Adjustments to reconcile profit after income tax to net cash flows from operating activities: |
|
|
|
| Income tax expense |
566,927,000
|
545,948,000
|
521,843,000
|
| Depreciation and amortization |
585,346,000
|
543,658,000
|
504,750,000
|
| Work in progress stockpiles write-off |
0
|
1,527,000
|
7,668,000
|
| Accretion on the provision for remediation and mine closure |
11,160,000
|
9,917,000
|
4,566,000
|
| Loss on materials obsolescence, net |
6,897,000
|
12,496,000
|
4,053,000
|
| Reversal of Supplemental fund retirement deferred |
(5,414,000)
|
0
|
|
| Loss on asset values impairment |
19,000
|
3,546,000
|
|
| Gain on sale of property, plant and equipment |
370,000
|
138,000
|
(279,000)
|
| Gain on uncertain income tax positions |
(2,373,000)
|
(1,617,000)
|
(19,667,000)
|
| Profit sharing adjustments |
0
|
0
|
(1,585,000)
|
| Canceled capital projects |
0
|
2,164,000
|
18,000
|
| Share-based payments cost |
2,166,000
|
2,776,000
|
2,502,000
|
| Net (increase) decrease in operating assets: |
|
|
|
| Trade and other receivables |
78,498,000
|
113,420,000
|
(95,416,000)
|
| Other accounts receivable |
(825,000)
|
1,178,000
|
(4,057,000)
|
| Inventories and stockpiles and ore on leach pads |
35,942,000
|
(22,305,000)
|
(58,111,000)
|
| Other non-financial assets |
9,418,000
|
52,204,000
|
(22,430,000)
|
| Net increase (decrease) in operating liabilities: |
|
|
|
| Trade and other payables |
(9,950,000)
|
(31,375,000)
|
60,574,000
|
| Other accounts payable |
2,721,000
|
(15,981,000)
|
(9,721,000)
|
| Benefits to employees |
2,651,000
|
(26,396,000)
|
(16,695,000)
|
| Other provisions |
14,851,000
|
2,129,000
|
(3,310,000)
|
| Interest paid (not included in the financing activities) |
(1,765,000)
|
(1,774,000)
|
(3,934,000)
|
| Interest on lease payments |
(3,320,000)
|
(3,685,000)
|
(3,912,000)
|
| Income tax paid |
(547,898,000)
|
(599,674,000)
|
(925,149,000)
|
| Net cash flows generated from operating activities |
1,698,598,000
|
1,367,258,000
|
867,061,000
|
| Cash flows of investing activities |
|
|
|
| Proceeds from sale of property, plant and equipment |
271,000
|
2,277,000
|
384,000
|
| Payments for acquisition of property, plant and equipment |
(345,802,000)
|
(312,206,000)
|
(206,354,000)
|
| Stripping activity asset |
(312,608,000)
|
(344,054,000)
|
(304,198,000)
|
| Net cash flows from (used in) investing activities |
(658,139,000)
|
(653,983,000)
|
(510,168,000)
|
| Cash flows of financing activities |
|
|
|
| Proceeds from bank loans |
0
|
0
|
325,000,000
|
| Payments of financial obligations |
0
|
0
|
(325,000,000)
|
| Lease payments |
(10,398,000)
|
(7,423,000)
|
(12,327,000)
|
| Payments of revolving credit facility |
0
|
0
|
(325,000,000)
|
| Dividends |
(850,000,000)
|
(750,000,000)
|
(400,000,000)
|
| Other financial payments |
0
|
0
|
(3,482,000)
|
| Net cash flows used in financing activities |
(860,398,000)
|
(757,423,000)
|
(740,809,000)
|
| Increase (decrease) in cash and cash equivalents for the year, net |
180,061,000
|
(44,148,000)
|
(383,916,000)
|
| Cash and cash equivalents at beginning of year |
509,616,000
|
553,764,000
|
937,680,000
|
| Cash and cash equivalents at year-end |
689,677,000
|
509,616,000
|
553,764,000
|
| Transactions with no effects in cash flows: |
|
|
|
| Changes on the provision for remediation and mine closure |
$ 36,885,000
|
$ (40,425,000)
|
$ 17,812,000
|