Tax situation (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Tax situation |
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| Schedule of income tax years for review by tax authorities |
During the four years following the year of filing the tax return, the tax authorities have the power to review and, as applicable, correct the income tax computed by the Group in the following 4 years, subsequent to the filing of the income tax report. The Income Tax and Value Added Tax (VAT) returns for the following years are open to review by the Tax Authorities: | | | | | Years open to review by the | Entity | | Tax Authorities | | | | Compañía de Minas Buenaventura S.A.A. | | 2022, 2023 and 2024 | Compañía Minera Condesa S.A. | | 2019,2021-2024 | Compañía Minera Colquirrumi S.A. | | 2019-2024 | Consorcio Energético de Huancavelica S.A. | | 2019-2024 | El Molle Verde S.A.C. | | 2019-2024 | Empresa de Generación Huanza S.A. | | 2019,2021-2024 | Inversiones Colquijirca S.A. | | 2019-2024 | Minera La Zanja S.R.L. | | 2019,2020-2022-2024 | Sociedad Minera El Brocal S.A.A. | | 2019-2020, 2022-2024 | Procesadora Industrial Río Seco S. A. | | 2019,2021-2024 | Apu Coropuna S.R.L. | | 2019-2024 | Cerro Hablador S. A. C. | | 2019-2024 | Minera Azola S. R. L. | | 2019-2024 |
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| Sociedad Minera Cerro Verde S.A.A |
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| Tax situation |
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| Schedule of types of temporary differences, unused tax losses and unused tax credits. |
| | | | | | | | | December 31,
2024 | | December 31,
2023 | | December 31,
2022 | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | Deferred Income tax | | | | | | | Assets | | | | | | | Cost of net asset for the construction of the tailing dam | | 214,396 | | 193,378 | | 163,975 | Provision for remediation and mine closure | | 34,602 | | 29,762 | | 25,348 | Unpaid vacations | | 9,227 | | 9,031 | | 10,031 | Provision for mining taxes | | 7,231 | | 4,335 | | 5,200 | Leases | | 3,297 | | 3,007 | | 1,867 | Other provisions | | 11,429 | | 11,282 | | 10,752 | | | 280,182 | | 250,795 | | 217,173 | Liabilities | | | | | | | Property, plant and equipment depreciation | | 517,985 | | 537,588 | | 557,626 | Stripping activity asset | | 165,018 | | 126,744 | | 80,569 | Valuation of inventories | | 27,091 | | 29,831 | | 28,386 | Embedded derivatives for price adjustment of copper concentrate and cathode | | (15,330) | | 10,822 | | 34,904 | Debt issuance costs | | 333 | | 547 | | 763 | | | 695,097 | | 705,532 | | 702,248 | Net deferred liabilities | | 414,915 | | 454,737 | | 485,075 | Supplementary retirement fund deferred | | | | | | | (see note 2(p)) | | — | | 5,414 | | 5,716 | | | | | | | | Total deferred income tax liability | | 414,915 | | 460,151 | | 490,791 |
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| Sociedad Minera El Brocal S.A.A |
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| Tax situation |
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| Schedule of income tax provision |
| | | | | | | | | December 31,
2024 | | December 31,
2023 | | December 31,
2022 | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | Income tax | | | | | | | Current | | 503,797 | | 478,889 | | 350,483 | Deferred | | (39,822) | | (30,338) | | 62,718 | | | 463,975 | | 448,551 | | 413,201 | Mining taxes | | | | | | | Current mining royalty and special mining tax | | 100,579 | | 96,082 | | 88,224 | | | | | | | | Supplementary retirement fund | | | | | | | Deferred | | — | | (302) | | 751 | | | | | | | | Income tax expense reported in the statements of comprehensive income | | 564,554 | | 544,331 | | 502,176 |
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| Schedule of other assessments |
| | | | | | | Fiscal year | | Taxes | | Penalty and Interest | | Total | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | 2003 – 2005 | | 7,530 | | 37,505 | | 45,035 | 2006 | | 6,058 | | 44,109 | | 50,167 | 2007 | | 9,390 | | 19,906 | | 29,296 | 2008 | | 9,703 | | 10,160 | | 19,863 | 2009 | | 8,953 | | 30,582 | | 39,535 | 2010 | | 7,317 | | 68,746 | | 76,063 | 2011 | | 5,025 | | 31,475 | | 36,500 | 2012 | | - | | 5,030 | | 5,030 | 2013 | | 8,138 | | 25,967 | | 34,105 | 2014 | | 5,060 | | 701 | | 5,761 | 2015 | | 2,936 | | 23,357 | | 26,293 | 2016 | | 61,010 | | 3,306 | | 64,316 | 2017 | | 4,958 | | 3,026 | | 7,984 | 2018 | | 4,590 | | 4,181 | | 8,771 | 2019 – 2020 | | 261 | | 117 | | 378 | 2021 | | 9,046 | | 5,081 | | 14,127 | 2022 | | 90 | | 16 | | 106 | | | | | | | | | | 150,065 | | 313,265 | | 463,330 |
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| Schedule of reconciliation of income tax rate. |
| | | | | | | | | | December 31,
2024 | | December 31,
2023 | | December 31,
2022 | | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | | | Profit before income tax | | 1,517,731 | | 1,323,295 | | 1,427,529 | | Income tax rate | | 32.00 | % | 32.00 | % | 32.00 | % | Expected income tax expense | | 485,674 | | 423,454 | | 456,809 | | Special mining tax and mining royalties | | (32,432) | | (32,182) | | (31,188) | | Gain for uncertainty about treatments of income taxes | | (3,616) | | (1,617) | | (19,667) | | Non - deductible expenses | | 12,335 | | 12,744 | | 13,608 | | Income tax true – ups | | 692 | | 1,267 | | (11,831) | | Penalties and moratorium interest | | 1,633 | | 40,769 | | (741) | | Income tax rate change effect on deferred taxes for the change in Peruvian tax law once the current Stability Contract expires | | 325 | | 208 | | 1,117 | | Other | | (636) | | 3,908 | | 5,094 | | Current and deferred income tax | | 463,975 | | 448,551 | | 413,201 | | Mining taxes | | 100,579 | | 96,082 | | 88,224 | | Supplementary retirement fund (deferred) | | — | | (302) | | 751 | | | | | | | | | | | | 564,554 | | 544,331 | | 502,176 | | | | | | | | | | Effective income tax rate | | 37.20 | % | 41.13 | % | 35.18 | % |
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