Impairment of long-lived assets (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of impairment (losses) reversals |
| Schedule of impairment (losses) reversals |
|
|
|
| Impairment (losses) reversals |
2025 |
2024 |
2023 |
| Magistral Project |
- |
(58,435) |
- |
| Cerro Pasco CGU |
108,005 |
22,206 |
(42,660) |
| Morro Agudo |
- |
10,291 |
(59,002) |
| Pukaqaqa Project |
- |
3,978 |
- |
| Other individual assets |
(16,299) |
(10,910) |
(12,976) |
| Total |
91,706 |
(32,870) |
(114,643) |
|
| Schedule of key assumptions used in impairment test |
| Schedule of key assumptions used in impairment test |
|
|
|
|
| |
2025 |
2024 |
|
2023 |
| Long-term zinc price (USD/t) |
3,120 |
2,930 |
|
2,800 |
| Discount rate (Peru) |
7.08% |
7.08% |
|
7.22% |
| Discount rate (Brazil) |
7.63% |
7.64% |
|
8.02% |
| Exchange rate (BRL x USD) |
5.43 |
5.66 |
|
4.84 |
| Brownfield projects - LOM (years) |
From 3 to 25 |
From 3 to 25 |
|
From 4 to 21 |
(i) Although LOM is a key assumption, based on current
facts and circumstances, including recent historical information, management does not consider a change in this assumption to be reasonably
possible. Historically, LOM has remained stable or increased by one to two years, and given the current stage of mining operations, a
significant reduction in LOM is not expected.
|
| Schedule of impairment reversal cerro pasco CGU |
| Schedule of impairment reversal cerro pasco CGU |
|
|
|
| |
Carrying amount prior to impairment reversal |
Impairment reversal |
Carrying amount after impairment reversal |
| Property, plant and equipment |
292,466 |
17,448 |
309,914 |
| Intangible assets |
155,528 |
90,558 |
246,086 |
| Other net liabilities |
(53,772) |
- |
(53,772) |
| |
394,222 |
108,005 |
502,228 |
|
| Schedule of key assumptions used recoverable amount |
| Schedule of key assumptions
used recoverable amount |
|
|
|
|
| Scenario |
Impairment
Reversal |
Excess over recoverable amount |
Current
Long-term zinc price (USD/t) |
Current
Discount rate (Peru) |
| Base case |
108,005 |
33,502 |
3,120 |
7.08% |
|
| Schedule of after stress test scenario |
| Schedule of after stress
test scenario |
|
|
|
|
|
|
|
|
| Assumption |
Stress
test
Scenario |
Stress
on
Assumption |
|
After Stress test scenario |
| |
Impairment
Reversal |
Impact |
|
Excess over recoverable amount |
Impact |
| Long-term zinc price (USD/t) |
5% Decrease |
2,964 |
|
75,328 |
(32,677) |
|
- |
(33,502) |
| Discount rate (Peru) |
5% Increase |
7.43% |
|
108,005 |
- |
|
18,643 |
(14,859) |
|
| Schedule of sensitivity analysis |
| Schedule of sensitivity analysis |
|
|
|
|
|
|
|
| CGU |
Excess over
recoverable amount |
Decrease in Long term Zinc (USD/t) |
Increase in WACC |
Appreciation of BRL over USD(i) |
| Change |
Price |
Change |
Rate |
Change |
Price |
| Três Marias System |
458,634 |
(14.41%) |
2,670 |
111.02% |
14.94% |
(13.46%) |
4.70 |
| Juiz de Fora |
51,351 |
(8.04%) |
2,869 |
24.96% |
8.85% |
(3.77%) |
5.23 |
| Aripuaña |
633,312 |
(30.26%) |
2,176 |
113.29% |
15.10% |
(22.70%) |
4.20 |
| Cerro Pasco |
33,502 |
(2.53%) |
3,041 |
11.54% |
8.51% |
- |
- |
| Cerro Lindo |
431,471 |
(36.33%) |
1,987 |
133.08% |
17.78% |
- |
- |
| Mining Peru |
258,550 |
(11.24%) |
2,769 |
43.88% |
10.98% |
- |
- |
| Cajamarquilla |
730,640 |
(51.36%) |
1,518 |
94.11% |
14.81% |
- |
- |
(i) These analyses are only applicable to Três
Marias System, Juiz de Fora and Aripuanã CGUs, as these are in Brazil and their functional currency is BRL. Therefore, the appreciation
of BRL over USD impacts the operational cost and expense, reducing the recoverable amount of these CGUs in USD, for consolidated purposes.
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