Investments in associates and joint venture (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Investments in associates and joint ventures |
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| Schedule of interests in associates and joint ventures |
| | | | | | | | | | | Share in equity | | | | | | | 2024 | | 2023 | | 2024 | | 2023 | | | % | | % | | US$(000) | | US$(000) | | | | | | | | | | Associates: | | | | | | | | | Sociedad Minera Cerro Verde S.A.A. | | 19.58 | | 19.58 | | 1,436,122 | | 1,416,051 | Compañía Minera Coimolache S.A. | | 40.10 | | 40.10 | | 100,637 | | 99,059 | Tinka Resources Ltd. | | 19.99 | | 19.32 | | 8,616 | | 9,221 | | | | | | | 1,545,375 | | 1,524,331 | Joint venture (c) | | | | | | 1,851 | | 1,628 | Other minor investments | | | | | | 1,166 | | 1,164 | | | | | | | 1,548,392 | | 1,527,123 |
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| Schedule of net share in profit (loss) of investments |
| | | | | | | | | 2024 | | 2023 | | 2022 | | | US$(000) | | US$(000) | | US$(000) | Associates | | | | | | | Sociedad Minera Cerro Verde S.A.A. | | 186,539 | | 152,552 | | 181,221 | Compañía Minera Coimolache S.A. | | 3,999 | | 1,072 | | (2,493) | Tinka Resources Ltd. | | (817) | | (1,320) | | (2,447) | | | 189,721 | | 152,304 | | 176,281 | Joint venture | | 126 | | (79) | | (11) | | | 189,847 | | 152,225 | | 176,270 |
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| Schedule of financial position of associate under equity method |
The table below presents the key financial data from the joint venture under IFRS accounting standards: | | | | | | | 2024 | | 2023 | | | US$(000) | | US$(000) | | | | | | Statements of financial position as of December 31: | | | | | Current assets | | 18,646 | | 17,375 | Non-current assets | | 61,025 | | 67,589 | Current liabilities | | (14,934) | | (12,896) | Non-current liabilities | | (41,099) | | (50,572) | Equity | | 23,638 | | 21,496 | | | | | | Group’s interest | | 1,851 | | 1,628 |
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| Schedule of statements of profit or loss |
| | | | | | | | | 2024 | | 2023 | | 2022 | | | US$(000) | | US$(000) | | US$(000) | Statements of profit or loss for the years ended December 31: | | | | | | | | | | | | | | Net revenues | | 27,787 | | 98,270 | | 27,538 | | | | | | | | Net profit (loss) | | 1,073 | | (148) | | (137) | Group’s share in results | | 126 | | (79) | | (11) |
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| Summary of changes in investments in associates and joint venture |
| | | | | | | 2024 | | 2023 | | | US$(000) | | US$(000) | | | | | | As of January 1, | | 1,527,123 | | 1,520,977 | Net share in profit of associates and joint venture | | 189,847 | | 152,225 | Equity contributions granted and paid, note 32(a) | | 400 | | — | Dividends declared and collected, note 32(a) | | (168,890) | | (147,286) | Unrealized results on investments | | — | | 3 | Translation adjustments and other | | (88) | | 1,204 | As of December 31, | | 1,548,392 | | 1,527,123 |
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| Sociedads Minera Cerro Verde S.A.A. |
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| Investments in associates and joint ventures |
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| Schedule of financial position of associate under equity method |
The table below presents the key financial data from the financial statements of Cerro Verde under IFRS accounting standards: | | | | | | | 2024 | | 2023 | | | US$(000) | | US$(000) | | | | | | Statements of financial position as of December 31: | | | | | Current assets | | 1,875,841 | | 1,789,427 | Non-current assets | | 6,158,620 | | 6,141,483 | Current liabilities | | (527,450) | | (460,991) | Non-current liabilities | | (723,526) | | (789,545) | | | | | | Equity | | 6,783,485 | | 6,680,374 | | | | | | Group’s interest | | 1,328,359 | | 1,308,288 | Goodwill | | 107,763 | | 107,763 | | | 1,436,122 | | 1,416,051 |
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| Schedule of statements of profit or loss |
| | | | | | | | | 2024 | | 2023 | | 2022 | | | US$(000) | | US$(000) | | US$(000) | Statements of profit or loss for the years ended December 31: | | | | | | | | | | | | | | Sales of goods | | 4,238,322 | | 4,143,228 | | 3,975,295 | | | | | | | | Net profit from continued operations | | 953,177 | | 778,964 | | 925,353 | | | | | | | | Group’s share in results | | 186,539 | | 152,552 | | 181,221 |
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| Compania Minera Coimolache S.A. |
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| Investments in associates and joint ventures |
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| Schedule of financial position of associate under equity method |
The table below presents the key financial data from the financial statements of Coimolache under IFRS accounting standards: | | | | | | | 2024 | | 2023 | | | US$(000) | | US$(000) | | | | | | Statements of financial position as of December 31: | | | | | Current assets | | 255,331 | | 242,558 | Non-current assets | | 129,851 | | 133,464 | Current liabilities | | (53,580) | | (27,046) | Non-current liabilities | | (80,600) | | (101,909) | | | | | | Equity | | 251,002 | | 247,067 | | | | | | Group’s interest | | 100,637 | | 99,059 |
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| Schedule of statements of profit or loss |
| | | | | | | | | 2024 | | 2023 | | 2022 | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | Statements of profit or loss for the years ended December 31: | | | | | | | Sales of goods | | 119,527 | | 136,949 | | 159,003 | | | | | | | | Net profit (loss) | | 9,975 | | 2,673 | | (6,218) | | | | | | | | Group’s share in results | | 3,999 | | 1,072 | | (2,493) |
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| Tinka resources Ltd |
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| Investments in associates and joint ventures |
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| Schedule of financial position of associate under equity method |
The table below presents the key financial data from the financial statements of Tinka under IFRS accounting standards in 2024 (financial statements as of September 30, 2024) and in 2023 financial statements as of September 30, 2023): | | | | | | | 2024 | | 2023 | | | US$(000) | | US$(000) | Statements of financial position: | | | | | Current assets | | 1,640 | | 5,591 | Non-current assets | | 50,456 | | 42,475 | Current liabilities | | (323) | | (350) | Equity | | 51,773 | | 47,716 | | | | | | Group’s interest | | 8,616 | | 9,221 |
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| Schedule of statements of profit or loss |
| | | | | | | | | 2024 | | 2023 | | 2022 | | | US$(000) | | US$(000) | | US$(000) | Statements of profit or loss for the years: | | | | | | | Net loss | | (5,363) | | (6,832) | | (12,666) | | | | | | | | Group’s share in results | | (817) | | (1,320) | | (2,447) |
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