Compañía de Minas Buenaventura S.A.A. (BVN) 20-F 30 Apr 21 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information [Abstract]
Document Type	20-F
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	BUENAVENTURA MINING CO INC
Entity Central Index Key	0001013131
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	253,715,190
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true

Consolidated statements of fina

Consolidated statements of financial position - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 235,449	$ 210,046
Trade and other receivables, net	230,830	287,712
Inventories, net	77,327	97,973
Income tax credit	19,837	31,919
Prepaid expenses	25,709	20,969
Total current assets	589,152	648,619
Non-current assets
Trade and other receivables, net	102,347	88,515
Inventories, net	23,637	394
Investments in associates and joint venture	1,488,775	1,488,247
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	1,650,361	1,754,372
Investment properties, net	186	204
Deferred income tax asset	73,850	74,556
Prepaid expenses	24,806	25,692
Other assets, net	26,503	26,675
Total non-current assets	3,390,465	3,458,655
Total assets	3,979,617	4,107,274
Current liabilities
Bank loans	65,793	55,000
Trade and other payables	179,956	166,244
Provisions, contingent liabilities and other liabilities	68,000	72,771
Income tax payable	3,162	5,650
Financial obligations	25,086	265,692
Hedge derivative financial instruments	18,439	0
Total current liabilities	360,436	565,357
Non-current liabilities
Trade and other payables	0	616
Provisions, contingent liabilities and other liabilities	252,338	221,736
Financial obligations	506,567	305,996
Contingent consideration liability	22,100	16,410
Deferred income tax liabilities	38,319	28,959
Total non-current liabilities	819,324	573,717
Total liabilities	1,179,760	1,139,074
Shareholders' equity, net
Capital stock	750,497	750,497
Investment shares	791	791
Additional paid-in capital	218,450	218,450
Legal reserve	163,194	163,168
Other reserves	269	269
Retained earnings	1,503,785	1,639,658
Other reserves of equity	(9,526)	(1,311)
Shareholders' equity, net attributable to owners of the parent	2,627,460	2,771,522
Non-controlling interest	172,397	196,678
Total shareholders' equity, net	2,799,857	2,968,200
Total liabilities and shareholders' equity, net	3,979,617	4,107,274
Minera Yanacocha SRL and subsidiary [Member]
Current assets
Cash and cash equivalents	870,929	818,503
Trade and other receivables, net	28,044	18,962
Value added tax credit	25,214	32,831
Inventories, net	52,297	54,245
Stockpiles and ore on leach pads, net	121,515	134,923
Prepaid expenses	1,591	991
Total current assets	1,099,590	1,060,455
Non-current assets
Restricted cash	48,752	48,617
Trade and other receivables, net	21,676	23,648
Financial instruments at fair value	25,168	24,417
Stockpiles and ore on leach pads, net	69,687	105,023
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	1,039,579	1,038,294
Intangible assets, net	7,915	10,547
Deferred income tax asset	1,071	1,071
Total non-current assets	1,213,848	1,251,617
Total assets	2,313,438	2,312,072
Current liabilities
Trade and other payables	68,645	72,806
Provisions, contingent liabilities and other liabilities	101,786	45,317
Income tax payable	42,029	23,153
Other accruals and liabilities	70,526	49,301
Total current liabilities	282,986	190,577
Non-current liabilities
Debt instruments	45,423	43,927
Provisions	1,660,603	1,587,551
Other accruals and liabilities	40	305
Total non-current liabilities	1,706,066	1,631,783
Total liabilities	1,989,052	1,822,360
Shareholders' equity, net
Capital stock	378,505	378,505
Additional paid-in capital	(21,758)	(21,758)
Other reserves	(227)	(350)
Retained earnings	(32,134)	133,315
Shareholders' equity, net attributable to owners of the parent	324,386	489,712
Total shareholders' equity, net	324,386	489,712
Total liabilities and shareholders' equity, net	2,313,438	2,312,072
Sociedads Minera Cerro Verde Saa [Member]
Current assets
Cash and cash equivalents	533,730	481,491
Trade accounts receivable, net	124	1,887
Trade and other receivables, net	5,540	6,529
Trade accounts receivable - Related parties	594,409	453,070
Other non-financial assets	41,360	105,680
Inventories, net	566,794	552,197
Prepaid expenses	12,931	14,074
Total current assets	1,754,888	1,614,928
Non-current assets
Inventories, net	301,075	255,123
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	5,495,976	5,690,851
Intangible assets, net	8,385	9,337
Prepaid expenses	1,508	0
Other non-financial assets	205,627	239,185
Total non-current assets	6,012,571	6,194,496
Total assets	7,767,459	7,809,424
Current liabilities
Trade accounts payable	207,625	252,865
Accounts payable - Related parties	3,446	4,014
Income tax payable	43,584	13,505
Benefits to employees	49,712	34,249
Other financial liabilities	10,223	8,855
Other accounts payable	126,465	99,380
Provisions	9,625	7,918
Total current liabilities	450,680	420,786
Non-current liabilities
Other accounts payable	285,392	379,724
Benefits to employees	27,320	15,249
Other financial liabilities	592,445	902,820
Provisions	307,974	278,419
Income tax liabilities	72,246	83,314
Deferred income tax liabilities	396,074	369,789
Total non-current liabilities	1,681,451	2,029,315
Total liabilities	2,132,131	2,450,101
Shareholders' equity, net
Capital stock	990,659	990,659
Other reserves	198,132	198,132
Other equity contributions	11,535	10,074
Retained earnings	4,435,002	4,160,458
Total shareholders' equity, net	5,635,328	5,359,323
Total liabilities and shareholders' equity, net	$ 7,767,459	$ 7,809,424

Consolidated statements of prof

Consolidated statements of profit or loss - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Continuing operations
Sales of goods	$ 637,619,000	$ 821,930,000	$ 1,106,329,000
Sales of services	20,285,000	23,661,000	24,001,000
Royalty income	18,638,000	22,297,000	20,385,000
Total sales	676,542,000	867,888,000	1,150,715,000
Operating costs
Cost of sales of goods, excluding depreciation and amortization	(393,888,000)	(512,874,000)	(613,381,000)
Unabsorbed cost due to production stoppage	(27,758,000)	0	0
Cost of sales of services, excluding depreciation and amortization	(1,554,000)	(3,378,000)	(4,318,000)
Depreciation and amortization	(189,620,000)	(226,335,000)	(238,879,000)
Exploration in operating units	(28,044,000)	(44,163,000)	(89,730,000)
Mining royalties	(11,749,000)	(12,832,000)	(21,388,000)
Total operating costs	(652,613,000)	(799,582,000)	(967,696,000)
Gross profit	23,929,000	68,306,000	183,019,000
Operating expenses, net
Administrative expenses	(67,185,000)	(76,297,000)	(77,099,000)
Selling expenses	(18,533,000)	(24,313,000)	(26,948,000)
Write-off of stripping activity asset	(11,633,000)	0	0
Exploration in non-operating areas	(8,475,000)	(11,879,000)	(36,307,000)
Reversal (provision) of contingencies and others	(4,150,000)	2,968,000	11,248,000
Impairment recovery (loss) of long-lived assets	2,083,000	(2,083,000)	5,693,000
Other, net	2,690,000	(14,715,000)	(1,308,000)
Total operating expenses, net	(105,203,000)	(126,319,000)	(124,721,000)
Operating profit (loss)	(81,274,000)	(58,013,000)	58,298,000
Other income (expense), net
Finance income	2,411,000	9,675,000	9,685,000
Finance costs	(37,822,000)	(42,173,000)	(38,422,000)
Share in the results of associates and joint venture	(9,517,000)	47,710,000	(1,144,000)
Net gain (loss) from currency exchange difference	(4,116,000)	(734,000)	(1,384,000)
Profit (loss) before income tax	(130,318,000)	(43,535,000)	27,033,000
Income tax
Current income tax	(9,924,000)	(11,911,000)	(16,882,000)
Deferred income tax	(15,506,000)	37,501,000	(9,997,000)
Total income tax	(25,430,000)	25,590,000	(26,879,000)
Profit (loss) from continuing operations	(155,748,000)	(17,945,000)	154,000
Discontinued operations
Net profit (loss) from discontinued operations attributable to equity holders of the parent	5,409,000	(10,514,000)	(11,808,000)
Loss for the year	(150,339,000)	(28,459,000)	(11,654,000)
Attributable to:
Equity holders of the parent	(135,718,000)	(12,208,000)	(13,445,000)
Non-controlling interest	(14,621,000)	(16,251,000)	1,791,000
Loss for the year	$ (150,339,000)	$ (28,459,000)	$ (11,654,000)
Basic and diluted loss per share attributable to equity holders of the parent, stated in U.S. dollars	$ (0.53)	$ (0.05)	$ (0.05)
Loss for continuing operations, basic and diluted per share attributable to equity holders of the parent, expressed in US dollars	$ (0.56)	$ (0.01)	$ (0.02)
Minera Yanacocha SRL and subsidiary [Member]
Continuing operations
Sales of goods	$ 592,394,000	$ 734,526,000	$ 658,653,000
Other operating revenue	27,768,000	4,776,000	21,965,000
Total sales	620,162,000	739,302,000	680,618,000
Operating costs
Cost of sales of goods, excluding depreciation and amortization	(666,456,000)	(692,721,000)	(619,424,000)
Other operating costs	(1,247,000)	(1,160,000)	(2,217,000)
Total operating costs	(667,703,000)	(693,881,000)	(621,641,000)
Gross profit	(47,541,000)	45,421,000	58,977,000
Operating expenses, net
Administrative expenses	(1,227,000)	(1,744,000)	(2,783,000)
Selling expenses	(1,922,000)	(1,722,000)	(2,627,000)
Other, net	(34,322,000)	(35,987,000)	(76,155,000)
Total operating expenses, net	(37,471,000)	(39,453,000)	(81,565,000)
Operating profit (loss)	(85,012,000)	5,968,000	(22,588,000)
Other income (expense), net
Finance income	8,100,000	18,430,000	11,448,000
Finance costs	(36,699,000)	(57,629,000)	(39,024,000)
Net gain (loss) from currency exchange difference	1,180,000	2,902,000	(2,056,000)
Profit (loss) before income tax	(112,431,000)	(30,329,000)	(52,220,000)
Income tax
Current income tax	(53,018,000)	(64,928,000)	(30,368,000)
Deferred income tax	0	0	1,071,000
Total income tax	(53,018,000)	(64,928,000)	(29,297,000)
Discontinued operations
Loss for the year	(165,449,000)	(95,257,000)	(81,517,000)
Attributable to:
Loss for the year	(165,449,000)	(95,257,000)	(81,517,000)
Sociedads Minera Cerro Verde Saa [Member]
Continuing operations
Sales of goods	2,538,593,000	2,896,894,000	3,061,930,000
Operating costs
Cost of sales of goods, excluding depreciation and amortization	(1,809,255,000)	(1,961,577,000)	(2,018,876,000)
Gross profit	729,338,000	935,317,000	1,043,054,000
Operating expenses, net
Selling expenses	(97,680,000)	(109,483,000)	(137,008,000)
Other operating expenses	(38,484,000)	(38,116,000)	(68,683,000)
Other operating income	6,157,000	680,000
Total operating expenses, net	(130,007,000)	(146,919,000)	(205,691,000)
Operating profit (loss)	599,331,000	788,398,000	837,363,000
Other income (expense), net
Finance income	2,350,000	10,356,000	28,089,000
Finance costs	(142,675,000)	(115,877,000)	(426,733,000)
Net gain (loss) from currency exchange difference	52,464,000	5,574,000	6,161,000
Profit (loss) before income tax	511,470,000	688,451,000	444,880,000
Income tax
Total income tax	236,926,000	298,074,000	325,170,000
Discontinued operations
Loss for the year	274,544,000	390,377,000	119,710,000
Attributable to:
Loss for the year	$ 274,544,000	$ 390,377,000	$ 119,710,000
Basic and diluted loss per share attributable to equity holders of the parent, stated in U.S. dollars	$ 0.784	$ 1.115	$ 0.342

Consolidated statements of othe

Consolidated statements of other comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of comprehensive income [Line Items]
Net profit (loss)	$ (150,339)	$ (28,459)	$ (11,654)
Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods
Net change in unrealized gain (loss) on cash flow hedges, note 32	(18,439)	(2,759)	31,464
Income tax effect,note 28(a)	5,440	813	(9,916)
Unrealized gain on investments	264	(291)	1,053
Other comprehensive profit (loss)	(12,735)	(2,237)	22,601
Total other comprehensive profit (loss), net of income tax	(163,074)	(30,696)	10,947
Attributable to:
Equity holders of the parent	(143,933)	(12,816)	(260)
Non-controlling interests	(19,141)	(17,880)	11,207
Other comprehensive profit (loss):	(163,074)	(30,696)	10,947
Minera Yanacocha SRL and subsidiary [Member]
Statement of comprehensive income [Line Items]
Net profit (loss)	(165,449)	(95,257)	(81,517)
Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods
Fair value of financial instruments	123	1,246	(91)
Other comprehensive profit (loss)	123	1,246	(91)
Total other comprehensive profit (loss), net of income tax	(165,326)	(94,011)	(81,608)
Attributable to:
Other comprehensive profit (loss):	(165,326)	(94,011)	(81,608)
Sociedads Minera Cerro Verde Saa [Member]
Statement of comprehensive income [Line Items]
Net profit (loss)	$ 274,544	$ 390,377	$ 119,710

Consolidated statements of chan

Consolidated statements of changes in equity - USD ($)	Capital stock, net of treasury shares [member]Minera Yanacocha SRL and subsidiary [Member]	Capital stock, net of treasury shares [member]Sociedad Minera Cerro Verde Saa [Member]	Capital stock, net of treasury shares [member]	Other reserves of equity [member]Minera Yanacocha SRL and subsidiary [Member]	Other reserves of equity [member]	Other capital contributionsSociedad Minera Cerro Verde Saa [Member]	Retained Earnings [Member]Minera Yanacocha SRL and subsidiary [Member]	Retained Earnings [Member]Sociedad Minera Cerro Verde Saa [Member]	Retained Earnings [Member]	Equity attributable to owners of parent [member]	Non-controlling interests [member]	Additional Paid-in Capital [Member]Minera Yanacocha SRL and subsidiary [Member]	Additional Paid-in Capital [Member]	Legal reserve [member]	Miscellaneous other reserves [member]Sociedad Minera Cerro Verde Saa [Member]	Miscellaneous other reserves [member]	Investment Share [Member]	Minera Yanacocha SRL and subsidiary [Member]	Sociedad Minera Cerro Verde Saa [Member]	Total
Balance at Dec. 31, 2017	$ 398,216,000	$ 990,659,000	$ 750,497,000	$ (1,505,000)	$ (13,888,000)	$ 0	$ 310,089,000	$ 4,000,371,000	$ 1,728,847,000	$ 2,848,037,000	$ 215,590,000	$ (47,685,000)	$ 218,450,000	$ 163,071,000	$ 198,132,000	$ 269,000	$ 791,000	$ 659,115,000	$ 5,189,162,000	$ 3,063,627,000
Balance (in shares) at Dec. 31, 2017			253,715,190
Effect of new standards			$ 0		0				(1,160,000)	(1,160,000)	(179,000)		0	0		0	0			(1,339,000)
Reclassification of stock-based compensation		0				8,147,000		0							0				8,147,000
Net profit (loss)	0	0	0	0	0	0	(81,517,000)	119,710,000	(13,445,000)	(13,445,000)	1,791,000	0	0	0	0	0	0	(81,517,000)	119,710,000	(11,654,000)
Other comprehensive income (loss) for the year	0		0	(91,000)	13,185,000		0		0	13,185,000	9,416,000	0	0	0		0	0	(91,000)		22,601,000
Total other comprehensive income (loss)	0		0	(91,000)	13,185,000		(81,517,000)		(13,445,000)	(260,000)	11,207,000	0	0	0		0	0	(81,608,000)		10,947,000
Proceeds from sale of shares, note 14	19,471,000			0			0					28,440,000						47,911,000
Treasury shares reduction, note 15(a)	(19,711,000)			0			0					19,711,000						0
Dividends declared and paid, note 17(d)		0	0		0	0		(200,000,000)	(22,860,000)	(22,860,000)	(5,560,000)		0	0	0	0	0		(200,000,000)	(28,420,000)
Change in investments, note 18(a)			0		0				(16,633,000)	(16,633,000)	0		0	0		0	0			(16,633,000)
Stock-based compensation		0				713,000		0							0				713,000
Expired dividends, note 17(c)			0		0				0	44,000	0		0	44,000		0	0			44,000
Acquisition of debt instruments, note 14	(19,471,000)			0			0					(22,224,000)						(41,695,000)
Balance at Dec. 31, 2018	378,505,000	990,659,000	$ 750,497,000	(1,596,000)	(703,000)	8,860,000	228,572,000	3,920,081,000	1,675,909,000	2,808,328,000	221,237,000	(21,758,000)	218,450,000	163,115,000	198,132,000	269,000	791,000	583,723,000	5,117,732,000	3,029,565,000
Balance (in shares) at Dec. 31, 2018			253,715,190
As of January 1,		990,659,000	$ 750,497,000		(703,000)	8,147,000		4,000,371,000	1,674,749,000	2,807,168,000	221,058,000		218,450,000	163,115,000	198,132,000	269,000	791,000		5,197,309,000	3,028,226,000
Net profit (loss)	0	0	0	0	0	0	(95,257,000)	390,377,000	(12,208,000)	(12,208,000)	(16,251,000)	0	0	0	0	0	0	(95,257,000)	390,377,000	(28,459,000)
Other comprehensive income (loss) for the year	0		0	1,246,000	(608,000)		0		0	(608,000)	(1,629,000)	0	0	0		0	0	1,246,000		(2,237,000)
Total other comprehensive income (loss)	0		0	1,246,000	(608,000)		(95,257,000)		(12,208,000)	(12,816,000)	(17,880,000)	0	0	0		0	0	(94,011,000)		(30,696,000)
Dividends declared and paid, note 17(d)		0	0		0	0		(150,000,000)	(22,098,000)	(22,098,000)	(6,500,000)		0	0	0	0	0		(150,000,000)	(28,598,000)
Change in investments, note 18(a)			0		0				(785,000)	(785,000)	0		0	0		0	0			(785,000)
Stock-based compensation		0				1,214,000		0							0				1,214,000
Expired dividends, note 17(c)			0		0				0	53,000	0		0	53,000		0	0			53,000
Balance at Dec. 31, 2019	378,505,000	990,659,000	$ 750,497,000	(350,000)	(1,311,000)	10,074,000	133,315,000	4,160,458,000	1,639,658,000	2,771,522,000	196,678,000	(21,758,000)	218,450,000	163,168,000	198,132,000	269,000	791,000	489,712,000	5,359,323,000	2,968,200,000
Balance (in shares) at Dec. 31, 2019			253,715,190
Net profit (loss)	0	0	$ 0	0	0	0	(165,449,000)	274,544,000	(135,718,000)	(135,718,000)	(14,621,000)	0	0	0	0	0	0	(165,449,000)	274,544,000	(150,339,000)
Other comprehensive income (loss) for the year	0		0	123,000	(8,215,000)		0		0	(8,215,000)	(4,520,000)	0	0	0		0	0	123,000		(12,735,000)
Total other comprehensive income (loss)	0		0	123,000	(8,215,000)		(165,449,000)		(135,718,000)	(143,933,000)	(19,141,000)	0	0	0		0	0	(165,326,000)		(163,074,000)
Dividends declared and paid, note 17(d)			0		0				0	0	(5,140,000)		0	0		0	0			(5,140,000)
Other changes in equity			0		0				(155,000)	(155,000)	0		0	0		0	0			(155,000)
Stock-based compensation		0				1,461,000		0							0				1,461,000
Expired dividends, note 17(c)			0		0				0	26,000	0		0	26,000		0	0			26,000
Balance at Dec. 31, 2020	$ 378,505,000	$ 990,659,000	$ 750,497,000	$ (227,000)	$ (9,526,000)	$ 11,535,000	$ (32,134,000)	$ 4,435,002,000	$ 1,503,785,000	$ 2,627,460,000	$ 172,397,000	$ (21,758,000)	$ 218,450,000	$ 163,194,000	$ 198,132,000	$ 269,000	$ 791,000	$ 324,386,000	$ 5,635,328,000	$ 2,799,857,000
Balance (in shares) at Dec. 31, 2020			253,715,190																	350,056,012

Consolidated statements of cash

Consolidated statements of cash flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Profit for the period	$ (150,339,000)	$ (28,459,000)	$ (11,654,000)
Proceeds from sales	708,196,000	783,000,000	1,216,294,000
Recovery from value added tax and other taxes	42,967,000	45,712,000	106,656,000
Royalty received	18,954,000	23,001,000	20,013,000
Dividends received from related parties	3,649,000	33,388,000	46,792,000
Dividends received from investments	2,500,000	0	0
Proceeds from insurance claim	4,381,000	0	38,793,000
Interest received	1,658,000	4,265,000	2,383,000
Payments to suppliers and third parties, and other net	(454,140,000)	(610,737,000)	(861,282,000)
Payments to employees	(129,353,000)	(137,300,000)	(151,602,000)
Income tax and Royalties paid to Peruvian State	(25,708,000)	(24,935,000)	(30,898,000)
Payments for tax litigation	(22,386,000)	(36,322,000)	0
Interest paid	(21,653,000)	(28,266,000)	(27,699,000)
Payments of royalties	(6,180,000)	(4,741,000)	(13,190,000)
Net (increase) decrease in operating liabilities:
Net cash and cash equivalents provided by operating activities	122,885,000	47,065,000	346,260,000
Investing activities
Proceeds from sale of property, plant and equipment to third parties	24,416,000	726,000	2,240,000
Additions to mining concessions, development costs, property, plant and equipment	(71,546,000)	(102,627,000)	(111,270,000)
Acquisition of investment in associate	(13,453,000)	0	0
Payments for acquisition of other assets	(1,641,000)	(3,700,000)	(8,529,000)
Net cash and cash equivalents used in investing activities	(62,224,000)	(105,601,000)	(117,559,000)
Financing activities
Proceeds from bank loans	18,019,000	55,000,000	95,000,000
Payments of bank loans	(7,197,000)	(95,000,000)	(95,000,000)
Proceeds from financial obligations	0	161,894,000	0
Payments of financial obligations	(38,994,000)	(186,152,000)	(45,222,000)
Dividends paid to controlling shareholders	0	(22,098,000)	(22,860,000)
Short-term and low value lease payments	(4,080,000)	(7,596,000)	0
Decrease (increase) of bank accounts in trust	2,134,000	(166,000)	(410,000)
Dividends paid to non-controlling shareholders	(5,140,000)	(6,500,000)	(5,560,000)
Net cash and cash equivalents used in financing activities	(35,258,000)	(100,618,000)	(74,052,000)
Increase (decrease) in cash and cash equivalents for the year, net	25,403,000	(159,154,000)	154,649,000
Cash and cash equivalents at beginning of year	210,046,000	369,200,000	214,551,000
Cash and cash equivalents at year-end	235,449,000	210,046,000	369,200,000
Financing and investing activities not affecting cash flows:
Changes in estimates of mine closures plans	31,558,000	26,722,000	42,874,000
Change of the fair value for contingent consideration liability	(5,690,000)	(655,000)	1,815,000
Accounts receivable from sale of assets	8,233,000	21,648,000	2,715,000
Fair value for contingent consideration liability	(5,690,000)	(655,000)	1,815,000
Transactions with no effects in cash flows:
Increase of right-of-use assets	6,200,000	3,700,000
Minera Yanacocha Srl And Subsidiaries [Member]
Operating activities
Profit for the period	(165,449,000)	(95,257,000)	(81,517,000)
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Current income tax expense	53,018,000	64,928,000	29,297,000
Deferred income tax benefit	0	0	(1,071,000)
Depreciation and amortization	140,252,000	144,862,000	156,212,000
Provision for mine closure	124,780,000	142,129,000	16,285,000
Unwinding of present value of the provision for mine closure	32,049,000	36,709,000	36,015,000
Unwinding of discount of debt instruments	1,497,000	1,497,000	735,000
Write-off of fixed assets	460,000	1,204,000	0
Loss (gain) for fixed asset sales	(10,000)	(5,996,000)	624,000
Write-down of ore inventories to realizable value	37,880,000	33,464,000	90,365,000
Reversal of the write-down of ore inventories to realizable value	(72,518,000)	(74,666,000)	(63,778,000)
Allowance for obsolescence of materials and supplies	497,000	(1,417,000)	439,000
Net (increase) decrease in operating assets:
Trade and other receivables	(7,110,000)	13,290,000	(7,580,000)
Value added tax credit and other taxes	(6,439,000)	(16,491,000)	7,616,000
Inventories and Stockpiles and ore on leach pads	84,833,000	42,326,000	7,120,000
Prepaid expenses	(600,000)	(238,000)	(345,000)
Financial assets at fair value	(628,000)	(561,000)	299,000
Net (increase) decrease in operating liabilities:
Trade and other payables	(3,706,000)	(8,231,000)	2,028,000
Provisions	(982,000)	10,051,000	(2,617,000)
Other accruals and liabilities	20,753,000	21,282,000	(197,000)
Closure of mining units paid	(22,656,000)	(23,889,000)	(19,842,000)
Cash flows from (used in) operations	215,921,000	284,996,000	170,088,000
Income tax paid	(20,066,000)	(12,600,000)	(8,863,000)
Net cash and cash equivalents provided by operating activities	195,855,000	272,396,000	161,225,000
Investing activities
Proceeds from sale of property, plant and equipment to third parties	460,000	8,088,000	4,821,000
Additions to mining concessions, development costs, property, plant and equipment	(143,489,000)	(184,403,000)	(117,636,000)
Restricted cash	(135,000)	(490,000)	(48,127,000)
Net cash and cash equivalents used in investing activities	(143,164,000)	(176,805,000)	(160,942,000)
Financing activities
Proceeds from sale of shares	0	0	47,911,000
Payment of principal portion of lease liabilities	(265,000)	(296,000)	0
Net cash and cash equivalents used in financing activities	(265,000)	(296,000)	47,911,000
Increase (decrease) in cash and cash equivalents for the year, net	52,426,000	95,295,000	48,194,000
Cash and cash equivalents at beginning of year	818,503,000	723,208,000	675,014,000
Cash and cash equivalents at year-end	870,929,000	818,503,000	723,208,000
Transactions with no effects in cash flows:
Addition (deductions) of asset retirement cost	(4,125,000)	158,967,000	27,275,000
Increase of right-of-use assets	0	1,045,000	0
Sociedads Minera Cerro Verde Saa [Member]
Operating activities
Profit for the period	274,544,000	390,377,000	119,710,000
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Current income tax expense	235,613,000	317,205,000	366,998,000
Depreciation and amortization	484,237,000	535,000,000	512,298,000
Accretion on remediation and mine closure provision	4,196,000	4,048,000	4,322,000
Net (gain) loss on sale of property, plant and equipment	(11,000)	279,000	964,000
Provision of mining royalties dispute	33,176,000	66,123,000	379,282,000
Provision (gain) for uncertainty about treatments of income taxes	1,313,000	(13,781,000)
Profit sharing update	42,041,000	0
Capital project canceled	6,255,000	0
Other adjustments	5,201,000	0
Net (increase) decrease in operating assets:
Trade and other receivables	(139,577,000)	(39,300,000)	67,475,000
Other accounts receivable	623,000	3,535,000	1,954,000
Inventories and Stockpiles and ore on leach pads	(60,549,000)	(63,871,000)	(49,371,000)
Other non-financial assets	(17,380,000)	(3,040,000)	(76,186,000)
Net (increase) decrease in operating liabilities:
Trade and other payables	(26,418,000)	20,796,000	29,419,000
Other accounts payable	47,419,000	44,573,000	48,130,000
Benefits to employees	18,178,000	(8,276,000)	(50,440,000)
Other provisions	(18,905,000)	12,164,000	(11,561,000)
Mining royalties dispute payments	(138,904,000)	(186,953,000)	(56,186,000)
Interest paid (not included in the financing activities)	(21,260,000)	(37,226,000)	(47,442,000)
Interest lease payments	(4,875,000)	(5,242,000)
Income tax paid	(86,610,000)	(216,369,000)	(430,810,000)
Net cash and cash equivalents provided by operating activities	638,307,000	820,042,000	808,556,000
Investing activities
Proceeds from sale of property, plant and equipment to third parties	189,000	1,243,000	109,000
Additions to mining concessions, development costs, property, plant and equipment	(178,991,000)	(283,459,000)	(280,183,000)
Stripping activity asset	(92,890,000)	(197,038,000)	(177,327,000)
Net cash and cash equivalents used in investing activities	(271,692,000)	(479,254,000)	(457,401,000)
Financing activities
Payments of bank loans	(305,000,000)	(200,000,000)	(250,000,000)
Dividends	0	(150,000,000)	(200,000,000)
Payment of principal portion of lease liabilities	(9,376,000)	(10,479,000)
Net cash and cash equivalents used in financing activities	(314,376,000)	(360,479,000)	(450,000,000)
Increase (decrease) in cash and cash equivalents for the year, net	52,239,000	(19,691,000)	(98,845,000)
Cash and cash equivalents at beginning of year	481,491,000	501,182,000	600,027,000
Cash and cash equivalents at year-end	533,730,000	481,491,000	501,182,000
Transactions with no effects in cash flows:
Changes on the provision for remediation and mine closure	$ (37,569,000)	$ (59,964,000)	$ 29,293,000

Identification and business act

Identification and business activity	12 Months Ended
	Dec. 31, 2020
Identification and business activity
Identification and business activity	1. Identification and business activity (a) Identification - Compañía de Minas Buenaventura S.A.A. (hereafter “the Company” or “Buenaventura”) is a publicly traded corporation incorporated in Peru in 1953. The Company stock is traded on the Lima and New York Stock Exchanges through American Depositary Receipts (ADRs), which represent the Company’s shares deposited in the Bank of New York. The Company’s legal domicile is at Las Begonias Street N°415, San Isidro, Lima, Peru. The Company is the ultimate controlling party. (b) Business activity - The Company and its subsidiaries (hereinafter “the Group") are principally engaged in the exploration, mining, concentration, smelting and marketing of polymetallic ores and metals. The Company operates directly four operating mining units in Peru (Uchucchacua, Orcopampa, Julcani and Tambomayo), two discontinued mining units (Poracota and Shila-Paula), and one mining unit under development stage (San Gabriel). In addition, the Company has a controlling interest in (i) Sociedad Minera El Brocal S.A.A. (hereinafter “El Brocal”), which operates the Colquijirca mining unit; (ii) Minera La Zanja S.R.L. (hereinafter “La Zanja”), which operates La Zanja mining unit; (iii) El Molle Verde S.A.C. (hereinafter “Molle Verde”) which operates Trapiche, a mining unit at the development stage; and (iv) other entities dedicated to energy generation and transmission services, and other activities. All these activities are carried out in Peru. In addition, the Group has non-significant subsidiaries in Mexico and Chile related to exploration activities. (c) Approval of consolidated financial statements - The consolidated financial statements as of December 31, 2020 were approved and authorized for issue by the Board of Directors on April 29, 2021 and subsequent events have been considered through that date. They will then be presented for approval by the Company's shareholders meeting. Those shareholders have the authority to approve and or otherwise modify the consolidated financial statements. (d) The consolidated financial statements include the financial statements of the following companies: Country of incorporation Ownership as of December 31, and business 2020 2019 Direct Indirect Direct Indirect % % % % Mining activities: Compañía de Minas Buenaventura S.A.A. (*) Peru 100.00 — 100.00 — Compañía Minera Condesa S.A. Peru 100.00 — 100.00 — Compañía Minera Colquirrumi S.A. Peru 100.00 — 100.00 — Sociedad Minera El Brocal S.A.A (**) Peru 3.19 58.24 3.19 58.24 Inversiones Colquijirca S.A. (**) Peru 89.76 10.24 89.76 10.24 S.M.R.L. Chaupiloma Dos de Cajamarca Peru 20.00 40.00 20.00 40.00 Minera La Zanja S.R.L. Peru 53.06 — 53.06 — Minera Julcani S.A. de C.V. Mexico 99.80 0.20 99.80 0.20 Compañía de Minas Buenaventura Chile Ltda. (***) Chile 90.00 10.00 90.00 10.00 El Molle Verde S.A.C. Peru 99.98 0.02 99.98 0.02 Apu Coropuna S.R.L. Peru 70.00 — 70.00 — Cerro Hablador S.A.C. Peru 99.00 1.00 99.00 1.00 Minera Azola S.A.C. Peru 99.00 1.00 99.00 1.00 Compañía Minera Nueva Italia S.A. (liquidated) Peru — — — 93.36 Energy generation and transmission services: Consorcio Energético de Huancavelica S.A. Peru 100.00 — 100.00 — Empresa de Generación Huanza S.A. Peru — 100.00 — 100.00 Insurance brokerage: Contacto Corredores de Seguros S.A. Peru 99.98 0.02 99.98 0.02 Contacto Risk Consulting S.A. Peru — 98.00 — 98.00 Industrial activities: Procesadora Industrial Río Seco S.A. Peru 100.00 — 100.00 — (*) Includes four operating mining units in Peru (Uchucchacua, Orcopampa, Julcani and Tambomayo), two discontinued mining units (Poracota and Shila-Paula), and one mining unit under development stage (San Gabriel) (**) As of December 31, 2020 and 2019, the participation of the Company in the voting rights of El Brocal is 61.43 percent. Inversiones Colquijirca S.A. (hereafter “Colquijirca”), a Group’s subsidiary (99.99 percent as of December 31, 2020 and 2019), has an interest in El Brocal’s capital stock, through which the Company holds an indirect participation in El Brocal of 58.24 percent as of December 31, 2020 and 2019. (***) On January 21, 2021, the Company sold 100% of its shares of Compañía de Minas Buenaventura Chile Ltda., which were presented as financial investments as of December 31, 2020. The sale value was US$30,000 which are fully collected as of the date of this report. (e) Discontinued operations During 2020, the Group sold its Mallay mining unit classified as discontinued during 2019 under IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”. The sale price was US$10 million (US$8.5 million plus VAT) with a related cost of US$3.6 million net of income from the reversal of provision for mining unit closure of US$5.1 million. As of December 31, 2020, the Group has collected US$2.0 million and the remaining balance will be paid in two settlements of US$4 million each in November 2021 and 2022. The net cash flows used by the mining units with discontinued operations are presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Operating activities — (2) 1,800 Investing activities — — (1,817) Decrease in cash and cash equivalents for the year — (2) (17) The results of the discontinued operations mining units for the years 2020, 2019 and 2018 are presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Sales (1) 97 16,666 Cost of sales — (2) (15,261) Gross profit (loss) (1) 95 1,405 Operating income (expenses), net Income from sale of development costs, property, plant and equipment (sale of Mallay mining unit) 7,976 — — Reversal of provision for closure of mining unit (sale of Mallay mining unit), nota 15(b) 5,093 — — Reversal of provision for impairment of value of inventory (sale of Mallay mining unit), note 8(c) 1,220 — — Income from sale of supplies (sale of Mallay mining unit) 606 — — Reversal (provision) of contingent and others 13 (134) (9) Cost of sale of development costs, property, plant and equipment, nota 11(a) (3,099) (44) (5,100) Administrative expenses (3,243) (8,048) (1,661) Cost of sale of supplies (sale of Mallay mining unit) (1,711) — — Provision for impairment of value of inventory, note 8(c) (377) (320) — Changes in provision for closure of mining units (58) (1,912) (6,013) Reversal of Impairment loss of long-lived assets, note 11(b) — — 2,837 Others, net (846) 117 (3,162) Total operating expenses, net 5,574 (10,341) (13,108) Operating profit (loss) 5,573 (10,246) (11,703) Finance costs, note 15(b) (176) (266) (88) Net gain (loss) from currency exchange difference 12 (2) 30 Profit (loss) before income tax 5,409 (10,514) (11,761) Income tax — — (47) Profit (loss) from discontinued operations 5,409 (10,514) (11,808) Profit (loss) from the discontinued operations, per basic and diluted share, express in U. S. dollars 0.03 (0.04) (0.03) (f) COVID-19 (Corona Virus Disease 2019) in Peru The Group’s operations are subject to risks related to outbreaks of infectious diseases. For example, the recent outbreak of coronavirus COVID-19, a virus causing potentially deadly respiratory tract infections originating and concentrated in China during the year 2019 which was declared a pandemic by the World Health Organization on March 11, 2020, has already and will continue to have a negative effect on the volatility in prices of precious metals. Additionally, a severe market disruption will likely entail decreased demand for our products and otherwise impact our operations and the operations of our customers, suppliers and other stakeholders. On March 15, 2020, and by means of Supreme Decree No. 044-2020, the Peruvian State declared a State of National Emergency and mandatory social isolation for an initial period of fifteen calendar days, with subsequent extensions. During the first phases of this period, constitutional rights related to personal freedom and security, inviolability of the home and freedom of assembly were restricted, except for the provision and access to certain services and essential goods, such as those related to financial institutions, insurance and pensions, as well as complementary and related services. Operations at national level have been resumed according to a phase plan issued by the Peruvian State. The Peruvian Government, through a supreme decree has authorized mining operators to gradually restart key activities, permitting mining companies in Peru to resume operations on May 11, 2020 that were scaled back sharply during the State of National Emergency. During this initial trial, companies are obligated to implement strict health and safety protocols approved by the Peruvian Mining Ministry to prevent the spread of infections. Health authorities will also conduct regular inspections in plants and mine sites to monitor compliance. In order to comply with these new regulations, the Group has elected to restart operations through a two-phased approach; prioritizing those mines with the most significant production. It is worth highlighting that Group has already presented the required documentation for restarting operations in all its mines: Phase 1 (initiated on May 16, 2020) · Tambomayo · Uchucchacua · El Brocal (Tajo Norte and Marcapunta) Phase 2 (initiated on June 16, 2020) · Orcopampa · Julcani · La Zanja Considering that the start of the quarantine began in the second half of March, the Group's mining units have operated below the planned volume for year 2020, which is reflected in the variation in sales. During 2020 sales decreased by US$191.3 million in relation to the previous year mainly explained by the suspension of dispatches, which resulted in lower sales, see note 20. In 2020, the Group's unabsorbed cost due to production stoppage amounted to a total amount of US$27.8 million (net of intercompany eliminations), and is made up as follows: 2020 2019 US$(000) US$(000) Services provided by third parties 13,885 — Direct labor 11,057 — Supplies 2,816 — 27,758 — Depreciation and amortization incurred during the production stoppage amounts to US$10.8 million for the year 2020, which is included in “Depreciation and amortization” caption in the consolidated statements of profit or loss. In January 2021, in response to the significant increase in the number of infections, the number of deaths and the saturation of the health system, the Peruvian Government decreed compulsory social immobilization in ten regions of the country, with the exception of some sectors such as agriculture, energy, hydrocarbons, mining, construction, etc., so it did not affect the Company's operations. This second immobilization had an initial period of fifteen days from January 31, being extended by 14 days until February 28, 2021. Since March 1, 2021 and for the next 14 days, new measures will be applied to face the COVID-19 pandemic. The Peruvian Government established a curfew at nights, and mandatory social immobilization will be in force all day long on Sundays. The ultimate severity of the Coronavirus outbreak is uncertain at this time and therefore the Group cannot predict the possible impact on the world, the Peruvian economy, the international financial markets, or ultimately on the Group financial condition. However, as part of the business continuity and progress of operations, the Group has been executing its business plan, which expects substantially that currently registered sales levels will increased in the short and medium term, considering: normal regularization of operations, commercial landscape and increase in metal prices.
Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Identification and business activity	1. Identification and business activities of the Company (a) Minera Yanacocha S.R.L. hereinafter “the Company” or “Yanacocha”, was incorporated in Peru on January 14, 1992 and commenced operations in 1993. The Company is currently engaged in the production, exploration and development of gold under the mining concessions it owns or that are owned by S.M.R.L. Chaupiloma Dos de Cajamarca (Chaupiloma). Future projects could include the production, exploration and development of copper as well. The Company is 51.35% owned by Newmont Second Capital Corporation, a 100% indirectly owned subsidiary of Newmont Corporation ("Newmont", the ultimate Parent company), 43.65% owned by Compañía Minera Condesa S.A., which is 100% owned by Compañía de Minas Buenaventura S.A.A. (Buenaventura) and 5% owned by Summit Global Management II VB, a wholly-owned subsidiary of Sumitomo Corporation, see note 14. The controlling Partners of the Company (or their affiliates) also own the controlling interest in Chaupiloma. In accordance with a mining lease agreement, amended and effective on January 1, 1994, the Company pays Chaupiloma a 3% royalty based on quarterly production sold at current market prices, after deducting refinery and transportation costs. The royalty agreement expires in 2032. The Company’s legal domicile is at La Paz avenue No. 1049 office 401, Miraflores, Lima Peru. (b) In order to perform its activities, the Company is required to obtain mining concessions or provisional permits for exploration and processing concessions for the treatment of mining ores from the Peruvian Ministry of Energy and Mines (MEM). Under Peru’s current legal and regulatory regime, these mining and processing rights are maintained by meeting a minimum annual level of production or investment and by the annual payment of a concession fee. A fine is payable for the years in which minimum production or investment requirements are not met. The Company holds mining concessions which exploration and processing rights do not expires as long as the Company comply with the legal requirements. To date the Company has complied with all the applicable legal requirements related to its concession rights. The Company’s operations are located approximately 375 miles (604 kilometers) north of Lima and 30 miles (48 kilometers) north of the city of Cajamarca and are primarily accessible by paved roads. The Yanacocha property began production in 1993 and consists of the following open pit mines: (i) the La Quinua Complex, (ii) the Yanacocha Complex, (iii) the Carachugo Complex and Maqui Maqui. In addition, The Company has (i) four leach pads (La Quinua, Yanacocha, Carachugo and Maqui Maqui), (ii) three gold processing plants (Pampa Larga, Yanacocha Norte and La Quinua), one limestone processing facility (China Linda) and (iv) one mill (Yanacocha Gold Mill). The La Quinua Complex includes mined material from the La Quinua Sur and the Tapado Oeste Layback and is scheduled to finish mining operations in 2021. The Yanacocha Complex includes mined material from the Yanacocha Layback and Yanacocha Pinos, which are scheduled to finish mining operations in 2021, respectively. The Yanacocha Complex began operations in 1997 and has had limited mining operations in recent years. The Carachugo Complex and Maqui Maqui includes mined material from multiple mines that are no longer in operation and continued residual gold leaching. In addition, the Carachugo Complex includes processed material from the Quecher Main project, which is a new open pit within the existing footprint of Yanacocha which began operating in October 2019. This project will add oxide production at Yanacocha and will extend the life of the Yanacocha operation to 2027. During 2020, the ounce production of the project was 55,000 oz. Yanacocha’s gold processing plants are located adjacent to the solution storage ponds and are used to process gold-bearing solutions from Yanacocha’s leach pads through a network of solution-pumping facilities and the Yanacocha Gold Mill processes high-grade gold ore to produce a gold-bearing solution for treatment at the La Quinua processing plant, followed by Merrill - Crowe zinc precipitation and smelting where a final dore product is poured. The dore is then shipped offsite for refining and is sold on the worldwide gold markets. Gold mining requires the use of specialized facilities and technology. The Company relies heavily on such facilities and technology to maintain production levels. Also, the cash flows and profitability of the Company’s operations are significantly affected by the market price of gold. Gold prices can fluctuate widely and are affected by numerous factors beyond the Company’s control. During 2020, 2019 and 2018 the Company produced 340,000, 527,000 and 515,000 of gold, respectively. Brownfield exploration and development for new reserves is ongoing, including the development of the Quecher Main project within the existing footprint of Yanacocha. In addition, the Company continues to evaluate the potential for mining sulfide gold and copper mineralization. Conga project The Conga Project consists of two gold-copper porphyry deposits located northeast of the Yanacocha operating area in the provinces of Celendin, Cajamarca and Hualgayoc. There is no exploration and (or) development of new reserves, the reserve balances reported for Conga in 2014 were reclassified to mineralized material in 2015. The Conga project has been the target of local political and community protests, some of which blocked the road between the Yanacocha mine and Conga project complexes and the City of Cajamarca in Peru and resulted in vandalism and equipment damage. While recently roadblocks and protests have diminished and focused on local political activism and labor disputes, the Company cannot predict whether similar or more significant incidents will occur in the future. The recurrence of significant political or community opposition or protests could continue to adversely affect the Conga Project’s development, other new projects in the area and the continued operation of Yanacocha. Construction activities on the Conga project were suspended in 2011, at the request of Peru’s central government following protests in Cajamarca by anti-mining activists led by the regional president. At the request of the Peruvian central government, the environmental impact assessment prepared in connection with the project was reviewed by independent experts in an effort to resolve allegations around the environmental viability of Conga. This review concluded that the environmental impact assessment complied with international standards and provided recommendations to improve water management. Based on the Company's internal project portfolio evaluation process, the Company does not anticipate developing Conga in the next ten years. Due to the uncertainty surrounding the project’s development timeline, the Company have allocated our exploration and development capital to other projects in its portfolio. As a result, the Conga project is currently in care and maintenance and the Company continues to evaluate opportunities to sell or find alternative uses for equipment and assets originally acquired for the Conga project. Should the Company be unable to develop the Conga project or conclude that future development is not in the best interest of the business, the Company may consider sale of the project to a third-party or other alternative for the project, which may result in a future impairment charge. The Central Government of Peru continued to support responsible mining as a vehicle for the growth and future development of Peru in 2020. However, the Company is unable to predict whether the Central government will continue to take similar positions in the future. Previous regional governments of Cajamarca and other political parties actively opposed the Conga project in the past. The Company is unable to predict the positions that will be taken in the future and whether such positions or changes in law will affect new projects at Yanacocha or Conga. Such changes may include increased labor regulations, environmental and other regulatory requirements, and additional taxes and royalties, as well as future protests, community demands and road blockages. The Company cannot predict future positions of either the Central or regional government on foreign investment, mining concessions, land tenure or other regulation. Any change in government positions or laws on these issues could adversely affect the assets and operations of Yanacocha or Conga, which could have a material adverse effect on the Company‘s results of operations and financial position. Should the Company be unable to develop the Conga project, the Company may have to consider other alternatives for the project, which may result in a future impairment charge. The total assets at Conga as of December 31, 2020 and 2019 were US$449.8 million and US$458.2 million, respectively. Sulfides project This project represents a stream of sulfide resources development that will be achieved by processing high-grade metal dominant sulfide ores from Yanacocha Verde Phase 1 and Chaquicocha underground deposits within Yanacocha’s operational footprint, through an integrated process flow sheet that includes the addition of new flotation, pressure oxidation, neutralization, solvent extraction and electrowinning facilities. The Sulfides project is in the final feasibility stage, and the Company expects to begin with the development stage of the project in the second half of the year 2021. (c) Approval of consolidated financial statements - The financial statements for the year ended December 31, 2020 were approved by Company’s Management on April 29, 2021 and the subsequent events have been considered through those dates. The consolidated financial statements as of December 31, 2019 were approved by the Partners’ Meeting held on July 13, 2020. (d) Covid-19, an infectious disease caused by a new coronavirus, was declared a global pandemic by the World Health Organization on March 11, 2020. Measures to decrease the spread of Covid-19 have had a significant impact on the Global economy. On March 15, 2020, the Peruvian Government declared a state of emergency at the national level, closing all businesses considered non-essential (the exceptions were the production and marketing of food, pharmaceutical products, financial services and health). Despite the fact that the state of emergency remained in force until October 31, 2020, the Peruvian Government has allowed the early restart of the economic activities of certain industries. The Company has taken various measures to preserve the health of its employees and to prevent contagion in the administrative and operational areas of each subsidiary, such as remote work, reorganization of its facilities, rigorous cleaning of work environments, distribution of equipment personal protection, preventive tests before access to the mining unit and body temperature measurement. Likewise, after the interruption of operations for 61 days, the Company resumed near normal operations as of the month of September 2020.
Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Identification and business activity	1. Identification and business activity (a) Sociedad Minera Cerro Verde S.A.A. (the Company) was incorporated in Peru on August 20, 1993, as a result of the privatization process of certain mining units carried out by the Peruvian State in that year. The Company’s shares began being listed on the Lima Stock Exchange on November 14, 2000. Through its subsidiary Cyprus Climax Metals Company, Freeport Minerals Corporation (FMC), a wholly owned subsidiary of Freeport-McMoRan Inc. (Freeport), owns 53.56% of the voting shares of the Company, SMM Cerro Verde Netherlands B.V. (SMM Cerro Verde), a subsidiary of Sumitomo Metal Mining Company Ltd. (Sumitomo), owns 21.00%, Compañía de Minas Buenaventura S.A.A. (Buenaventura) owns 19.58%, and other stakeholders own the remaining 5.86%. The Company’s legal address is Jacinto Ibañez Street N°315 - Parque Industrial, Arequipa in the city of Arequipa and the ore deposit is located 20 miles southwest of that city (Asiento Minero Cerro Verde S/N Uchumayo – Arequipa). (b) The Company’s activities are regulated by the Peruvian General Mining Law and comprise the extraction, production and sale of copper cathodes, copper concentrate and molybdenum concentrate. Cerro Verde’s operation consists of an open-pit copper mine, with a processing capacity of 548,500 metric ton-per-day that includes (i) concentrator facilities with a 409,500 metric ton-per-day capacity (361,500 metric ton-per-day before the expansion approved by the Ministry of Energy and Mines during 2018), (ii) solution extraction and electrowinning (SX/EW) leaching facilities with leach copper production derived from a 39,000 metric ton-per-day crushed leach facility and (iii) a run-of-mine (ROM) leach system with a capacity of 100,000 metric ton-per-day. This SX/EW leaching operation has a production capacity of approximately (c) On March 15, 2020, the Peruvian government issued a Supreme Decree and declaration of a National Emergency in its efforts to contain the outbreak of COVID-19. The order was initially for fifteen days but was subsequently extended for different periods through May 31, 2021. To comply with the government’s requirements, Cerro Verde temporarily transitioned to a care and maintenance status and adjusted its operations to prioritize critical activities. During the second quarter 2020, the Company restored operations following COVID-19 restrictions imposed by the Peruvian government in March 2020. On May 4, 2020, the Peruvian government updated its State of Emergency authorizing the restarting of economic activities to allow major mining operations to gradually increase activities. During the second half of May 2020, the Peruvian government approved the Surveillance, Prevention and Control Plan of COVID-19 at Work, which establishes the guidelines for the surveillance, prevention and control of the health of workers at risk of exposure to the virus. The implementation of these measures and actions for prevention, early detection and response helps to control the risk of spread and health impacts caused by COVID-19 during the development of operational activities in order to protect the health of workers and contractors and allow for the gradual resumption of normal operations. Because of the significant negative impacts of the COVID-19 pandemic on the global economy, in April 2020 Cerro Verde revised its operating plans. Cerro Verde assessed its near-term operating plans with a focus on maximizing cash flow and protecting liquidity in a weak and uncertain economic environment and to preserve asset values for anticipated improved copper prices as economic conditions recover. Cerro Verde continued to make progress toward restoring operations during third and fourth-quarter 2020. The Company will continue to closely monitor health and market conditions and make further adjustments to mine plans as required. Refer to Note 15(b) for a discussion of idle facility costs associated with the temporary shutdown and incremental expenses related to the COVID-19 pandemic. In conjunction with the revised operating plans, the Company implemented a series of initiatives to reduce costs including employee retirement programs, third-party service costs, facilities costs, travel and other expenses (refer to Note 15(b)). In addition to the implementation of operational protocols, the Company also continues to work closely with communities where it operates and has provided support and in-kind contributions of medical supplies and equipment in its efforts of prioritizing health and safety. (a) Financial statements approval – The financial statements for the year ended December 31, 2020 were approved by Company’s Management on April 29, 2021 and the subsequent events have been considered through those dates. The financial statements for the year ended December 31, 2019, were approved at the Board of Directors and Shareholders’ Meetings on February 26, 2020. .

Basis for preparation, consolid

Basis for preparation, consolidation and accounting policies	12 Months Ended
	Dec. 31, 2020
Basis for preparation, consolidation and accounting policies
Basis for preparation, consolidation and accounting policies	2. Basis for preparation, consolidation and accounting policies 2.1. Basis of preparation - The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared on a historical cost basis, based on the records of the Company, except for the derivative financial instruments and financial assets and liabilities that have been measured at fair value and discontinued operations that have been valued at the lower of (i) their carrying amount and (ii) its fair value less cost to sell. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousands, except when otherwise indicated. The preparation of consolidated financial statements requires that Management use judgments, estimates and assumptions, as detailed on the following note 3. These consolidated financial statements provide comparative information in respect of prior periods. 2.2. Basis of consolidation - The consolidated financial statements comprise the financial statements of the Company and its subsidiaries to the date of the consolidated statements of financial position. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has: - - - Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - - - The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. 2.3. Changes in accounting policies and disclosures - Certain standards and amendments applied for the first time in 2020; however, they did not have material impact on the annual consolidated financial statements of the Group and therefore, have not been disclosed. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. 2.4. Summary of significant accounting policies – (a) The Group´s consolidated financial statements are presented in US dollars, which is also the parent company’s functional currency. For each entity, the Group determines the functional currency and the items included in the financial statements of each entity are measured using that functional currency. For consolidation purposes, each entity presents its financial statements in US dollars. Transactions and balances Transactions in foreign currency are initially recorded by the Group at the exchange rates prevailing at the dates of the transactions, published by the Superintendence of Banking and Insurance and Pension Fund Administrators (AFP for its acronym in Spanish). Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising from the settlement or translation of monetary items are recognized in profit or loss with the exception of monetary items that are designated as part of a hedge. These are recognized in other comprehensive income (OCI) until the hedge items are disposed of, at which time, the cumulative amount is reclassified to profit or loss. Tax charges and credits attributable to exchange differences on those monetary items are also recognized in OCI. Non-monetary assets and liabilities recognized in terms of historical cost are translated using the exchange rates prevailing at the dates of the initial transactions. (b) A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (i) Initial recognition and measurement - Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through OCI, and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. Except for trade receivables that do not contain a significant financing component, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. For a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are “solely payments of principal and interest (SPPI)” on the principal amount outstanding. This assessment is performed at an instrument level. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a period established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in the following categories: - - - Financial assets at amortized cost - The Group measures financial assets at amortized cost if both of the following conditions are met: - - Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. This category generally applies to other receivables included in the “Trade and other receivables, net” caption. Financial assets at fair value through OCI - Financial assets are classified and measured at fair value through OCI if they are held in a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets. This category generally applies to the “Hedge derivative financial instruments” caption. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Notwithstanding the criteria for debt instruments to be classified at amortized cost or at fair value through OCI, as described above, debt instruments may be designated at fair value through profit or loss on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Financial assets at fair value through profit or loss are carried in the consolidated statements of financial position at fair value with net changes in fair value recognized in the consolidated statements of profit or loss. This category generally applies to the trade receivables included in the “Trade and other receivables, net” caption. Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - - When the Group has transferred its rights to receive cash flows from an asset or has entered a pass-through arrangement, it evaluates to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of the Group´s continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Impairment of financial assets - The Group recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12‑months (a 12‑month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Group considers a financial asset in default when contractual payments are past due according to each contract. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (ii) Initial recognition and measurement - Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans, borrowings and payables, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, financial obligations, bank loans, financial liabilities for contingent consideration liability and Hedge derivative financial instruments. Subsequent measurement - The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss - Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the consolidated statements of profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Group has designated financial liabilities for contingent consideration liability as at fair value through profit or loss. Financial liabilities at amortized cost (loans and borrowings) - After initial recognition, interest-bearing loans and borrowing are subsequently measured at amortized cost using the effective interest rate method (EIR). Gains and losses are recognized in the profit or loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. EIR amortization is included in the “Financial costs” caption in the consolidated statements of profit or loss. This category generally applies to interest-bearing loans and borrowings. Derecognition - A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of profit or loss. (iii) Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously. (c) “Cash and cash equivalents” caption presented in the consolidated statements of financial position comprise cash at banks and on hand, and short-term highly liquid deposits with a current maturity and subject to an insignificant risk of changes in value. For the purpose of the consolidated statements of cash flows, cash and cash equivalents consist of cash and short-term deposits as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management. In addition, the Group has restricted cash. See Note 6. (d) Inventories are valued at the lower of cost or net realizable value. Cost is determined using the average method. In the case of finished goods and work in progress, cost includes the cost of materials and direct labor and a portion of indirect manufacturing expenses, excluding borrowing costs. The current portion of the inventories is determined based on the expected amounts to be processed within the next twelve months. Inventories not expected to be processed within the next twelve months are classified as non-current. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs to make the sale. Provision (or reversal) for losses on the net realizable value are calculated based on a specific analysis conducted annually by the Management and is charged to profit or loss in the period in which it determines the need for the provision (or reversal). Any provision for obsolescence of spare parts and supplies is determined by reference to specific items of stock based on inventory turnover level. A regular review is undertaken to determine the extent of any provision for obsolescence. (e) Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair value and the amount of any non-controlling interest in the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in “Administrative expenses” caption. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquire. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value, with changes in fair value recognized in either profit or loss or as a change to other comprehensive income. If the contingent consideration is not within the scope of IFRS 9, it is measured under the fair value at the reporting date with changes in the fair value recorded in the consolidated statement of profit or loss. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests, and any previous interests held, over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified again all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the re-assessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in the consolidated statements of profit or loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, this difference is allocated to each of the Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities, of the acquiree, are assigned to those units. Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed of in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained. (f) An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but not control over those policies. A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. The Group’s investments in associates and joint ventures are accounted for using the equity method. Under this method, the investment in an associate or joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Group’s share of net assets of the associate and joint ventures since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment individually. The consolidated statement of profit or loss reflects the Group’s share of the results of operations of the associates and joint ventures. Any change in OCI of those investees is presented, as part of the Group’s other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate and joint ventures, the Group recognizes its share of any changes, when applicable, in the consolidated statements of changes in shareholders’ equity. Unrealized gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture. The aggregate of the Group´s share of profit or loss of an associate and joint ventures is shown on the face of the consolidated statements of profit or loss outside operating profit and represents profit or loss after tax in the associates and joint ventures. The financial statements of the associates and joint ventures are prepared for the same reporting period as the Group. When necessary, adjustments are made to bring the accounting policies in line with those of the Group. After the application of the equity method, the Group determines whether it is necessary to recognize an impairment loss of its investment in associates and joint ventures. At each reporting date, the Group determines whether there is objective evidence that the investments in the associates and joint ventures are impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss in the consolidated statements of profit or loss. Upon loss of significant influence over the associate and joint ventures, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate and joint ventures upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in consolidated statements of profit or loss. (g) Non-monetary assets, which represent an entity’s right to receive goods or services, are presented as prepaid expenses. The asset is subsequently derecognized when the goods are received, and the services are rendered. (h) Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into operation, the initial estimate of the obligation for mine closing and, borrowing costs for qualifying assets. When significant parts of property, plant and equipment are required to be replaced at intervals, the Group depreciates them separately based on their specific useful lives. In addition, when a major inspection is performed, its cost is recognized in the carrying amount of plant and equipment as a replacement if the recognition criteria are satisfied. All other maintenance and repair costs are recognized in the consolidated statement of profit or loss as incurred. Depreciation - Unit-of-production method: In mining units with long useful lives, depreciation of assets directly related to the operation of the mine is calculated using the units-of-production method, which is based on economically recoverable reserves of the mining unit. Other assets related to these mining units are depreciated using the straight-line method with the lives detailed in the next paragraph. Straight-line method: Depreciation of assets in mining units with short useful lives or used for administrative purposes is calculated using the straight-line method of accounting. The useful lives are the following: Years Buildings, construction and other 6 to 20 Machinery and equipment 5 to 10 Transportation units 5 Furniture and fixtures 10 Computer equipment 4 The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year-end, and adjusted prospectively, if appropriate. Disposal of assets - An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal, or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statements of profit or loss when the asset is derecognized. (i) The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Group as a lessee - The Group applies a single recognition and measurement approach for all leases, except for short-term leases with no renewal options and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i) The Group recognizes right-of-use assets at the commencement date of the lease. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the related assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. The Group does not have variable lease payments that depend on an index or a rate. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group’s lease liabilities are included “Financial obligation” caption. iii) The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment without renew option. It also applies the lease of low-value assets recognition exemption to leases of office equipment, which are considered low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term. Group as a lessor - Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in “Other, net” in the consolidated statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned. (j) Mining concessions represent ownership of the right of exploration and exploitation to the Group on mining properties that contains ore reserves acquired. Mining concessions are irrevocable, provided the holder of a mining concession complies with the obligations set forth in the General Mining Law. Such concessions have an indefinite term, subject to payment of an annual concession fee per hectare granted and achievement of minimum annual production for each hectare. Mining concessions are stated at cost and are amortized on units of production method, using as the basis proven and probable reserves. If the Group leaves these concessions, the costs associated are written off in the consolidated statements of profit or loss. Cost includes the fair value attributable to mineral reserves and the portion of mineral resources considered probable of economic extraction at the time of a business combination. At year-end, the Group evaluates if there is any indicator of impairment. If any indicator exists, the Group estimates the mining concession’s recoverable amount. Mining concessions are presented in the caption of “Mining concessions, development costs, right-of-use asset, property, plant and equipment, net”. (k) Exploration costs - Exploration costs are expensed as incurred. These costs primarily include materials and fuels used, surveying costs, drilling costs and payments made to the contractors. Exploration and evaluation activity include: - - - - - - Development costs – When the Group’s Management approves the feasibility of the conceptual study of a project, the costs incurred to develop such property, including additional costs to delineate the ore body and remove impurities it contains, are capitalized as development costs under the “Mining concessions, development costs, right-of-use asset, property, plant and equipment, net” caption. These costs are amortized when production begins, on the units-of-production basis over the proven and probable reserves. The development costs include: - - - Development costs necessary to maintain production are expensed as incurred. (l) As part of its mining operations, the Group incurs waste removal costs (stripping costs)
Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Basis for preparation, consolidation and accounting policies	2. Basis for preparation, consolidation and accounting policies 2.1. Basis of preparation - The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standard Board (IASB). The consolidated financial statements have been prepared under the historical cost basis, except for accounts receivables and financial assets which are measured at their fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousands, except when otherwise indicated. The preparation of consolidated financial statements requires that Management use judgments, estimates and assumptions, as detailed in note 3. 2.2. Basis of consolidation - The consolidated financial statements comprise the financial statements of the Company and its subsidiary (San Jose Reservoir Trust, a separate Peruvian legal entity created to ensure the continuity of the Company’s operations in the San Jose Reservoir after the end of operations at Yanacocha). Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Company controls an investee if, and only if, the Company has: - Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee). - Exposure, or rights, to variable returns from its involvement with the investee. - The ability to use its power over the investee to affect its returns. Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Company has less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - The contractual arrangement with the other vote holders of the investee. - Rights arising from other contractual arrangements. - The Company’s voting rights and potential voting rights or a combination of rights. The Company re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Company gains control until the date the Company ceases to control the subsidiary. When necessary, adjustments are made to the financial statements of the subsidiary to bring its accounting policies into line with the Company’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. 2.3. Changes in accounting policies and disclosures - Below is a summary of the changes in accounting policies and disclosures applicable for the year 2020: Amendments to IAS 1 and IAS 8: Definition of Material - In October 2018, the IASB issued amendments to IAS 1, “Presentation of Financial Statements” and IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors” to align the definition of “material” across the standards and to clarify certain aspects of the definition. The new definition states that “information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.” The amendments to the definition of material are not expected to have a significant impact on the Company’s consolidated financial statements. Conceptual Framework for Financial Reporting issued on 29 March 2018 - The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. This will affect those entities which developed their accounting policies based on the Conceptual Framework. The revised Conceptual Framework includes some new concepts, updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. Amendments to IFRS 16 Covid-19 Related Rent Concessions - On 28 May 2020, the IASB issued Covid-19-Related Rent Concessions - amendment to IFRS 16 Leases. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee making this election record any change in lease payments that result from the Covid-19-related rental concession in the same way that it would recognize the change under IFRS 16, if the change were not a lease modification. Several other amendments and interpretations were applied for the first time in 2020, but they did not have an impact on the Company's consolidated financial statements and therefore have not been disclosed. The Company has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective. 2.4. Summary of significant accounting policies and practices - (a) Foreign currencies - The consolidated financial statements are presented in U.S. dollars, which is also the Company’s functional currency. Transactions and balance in foreign currency Transactions in foreign currency (a currency other than functional currency) are initially recorded by the Company at the exchange rates prevailing at the time of the transactions published by the Superintendence of Banking and Insurance and Pension Fund Administrators (AFP for its acronym in Spanish). Monetary assets and liabilities denominated in other currencies are translated into the U.S. dollar at exchange rates prevailing at the statements of financial position dates. Gains or losses from exchange differences arising from the settlement or translation of monetary assets and liabilities are recognized in the consolidated statements of comprehensive income. Non-monetary assets and liabilities recognized in terms of historical cost are translated using the exchange rates prevailing at the dates of the initial transactions. Transactions in Soles (S/) Transactions in Soles are completed using exchange rates published by the AFP. As of December 31, 2020, the exchange rates for U.S. dollars published by this Institution were US$0.2764 for buying and US$0.3020 for selling (US$0.3020 for buying and US$0.3015 for selling as of December 31, 2019), and have been applied by the Company for the assets and liabilities accounts, respectively. As of December 31, 2020 and 2019, the Company presents the following assets and liabilities originally denominated in Soles by its equivalent in U.S. dollars: 2020 2019 US$(000) US$(000) Assets Cash and cash equivalents 6,242 5,140 Trade and other receivables 7,584 27,990 Value added tax credit 25,214 32,831 Total assets 39,040 65,961 Liabilities Trade and other payables 48,200 13,085 Income tax payable 37,779 23,153 Provisions, other accruals and liabilities 25,774 29,633 Total liabilities 111,753 65,871 Net asset (liability) position (72,713) 90 For the year ended December 31, 2020, the Company recognized a net gain from currency exchange difference for US$1,180 (net gain for US$2,902 and loss for US$2,056 as of December 31, 2019 and 2018; respectively) in the caption “Net gain (loss) from currency exchange difference” of the consolidated statements of comprehensive income. (b) Financial instruments - Initial recognition and subsequent measurement - A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (i) Financial assets - Initial recognition and measurement Financial assets are classified, at initial recognition, and subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price as disclosed in section (n) Revenue from contracts with customers. In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Financial assets of the Company comprise cash and cash equivalents, trade and other receivables, net and financial assets at fair value through OCI with recycling of cumulative gains and losses and financial assets at fair value through profit or loss. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in four categories: - Financial assets at amortized cost (debt instruments). - Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments). - Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments). - Financial assets at fair value through profit or loss. Financial assets at amortized cost (debt instruments) - Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Company’s financial assets at amortized cost includes other receivables, net. See note 6 for more information on accounts receivables. Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments) - For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the consolidated statements of comprehensive income and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. The Company’s investments in the San Jose Reservoir Trust are classified as financial assets at fair value through OCI as of December 31, 2020 and 2019. Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments) - Debt instruments at fair value through OCI includes investments in quoted debt instruments included under other non-current financial assets. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statements of comprehensive income when the right of payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment. The Company does not have financial assets classified in this category. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss are carried in the consolidated statement of financial position at fair value with net changes in fair value recognized in the consolidated statements of comprehensive income. This category includes derivative instruments and listed equity investments which the Company had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognized as other income in the consolidated statements of comprehensive income when the right of payment has been established. As of December 31, 2020, the Company has nominal investments related to the San Jose Reservoir Trust as financial assets at fair value through profit or loss. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category. This category also applies to financial assets that are intended to be held for an indefinite period of time and may be sold in response to needs for liquidity, or in response to changes in the market conditions (Note 9). Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - The rights to receive cash flows from the asset have expired; or - The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass-through arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset or, (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of the Company’s continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Impairment of financial assets - The Company recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12‑months (a 12‑month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables and contract assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (ii) Financial liabilities - Initial recognition and measurement - Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, financial liabilities at amortized cost (loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge), as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade and other payables. Subsequent measurement - The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss - Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the consolidated statements of comprehensive income. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Company has not designated any financial liability as at fair value through profit or loss. Financial liabilities at amortized cost (Loans and borrowings, trade payables) - After initial recognition, interest-bearing loans and borrowing are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the consolidated statements of profit and cost when the liabilities are derecognized as well as through the amortization process. Amortized cost is calculated taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. Amortization under the effective interest rate method is included as financial costs in the consolidated statements of profit or loss. This category generally applies to interest-bearing loans and borrowings. Trade and other payables are subsequently measured at amortized cost. Derecognition - A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of comprehensive income. (iii) Offsetting of financial instruments - Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously. (c) Current versus non-current classification - The Company presents assets and liabilities in the consolidated statements of financial position based on current or non-current classification. An asset is classified as current when it is: - Expected to be realized or intended to be sold or consumed in the normal operating cycle; - Held primarily for the purpose of trading; - Expected to be realized within twelve months after the reporting period, or - Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when it is: - Expected to be settled in the normal operating cycle; - Held primarily for the purpose of trading; - Due to be settled within twelve months after the reporting period, or - There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities. (d) Cash and cash equivalents - Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less. Restricted cash includes guarantee deposits in escrow accounts related to Sumitomo's shares acquisition (see note 14) and is excluded from cash and cash equivalents being included in other current assets or long-term assets depending on restrictions. (e) Stockpiles, ore on leach pads and inventories - Costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of weighted average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of costs applicable to sales. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next twelve months. Stockpiles, ore on leach pads and inventories not expected to be processed within the next twelve months are classified as non-current. The major classifications are as follows: (i) Stockpiles - Stockpiles represent ore that has been extracted from the mine and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are allocated to stockpiles based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and depreciation and amortization relating to mining operations, and removed at each stockpile’s weighted average cost per recoverable unit as material is processed. (ii) Ore on leach pads - The recovery of gold from certain gold oxide ores is achieved through the heap leaching process. Under this method, oxide ore is placed on leach pads where it is treated with a chemical solution, which dissolves the gold contained in the ore. The resulting gold-bearing solution is later processed in a plant where the gold is recovered. Costs are added to ore on leach pads based on current mining costs, including applicable overhead and depreciation and amortization relating to mining operations, as well as leaching costs incurred in the leaching process. Costs are removed from ore on leach pads as ounces are recovered based on the weighted average cost per estimated recoverable ounce of gold on the leach pad. The estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, the leach pads recover between 50% and 95% of the ultimate recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete. Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on the pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and estimates are refined based on actual results over time. The Company’s operating results typically are not materially impacted by variations between the estimated and actual recoverable quantities of gold on its leach pads in the ordinary course of business. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted on a prospective basis. (iii) In - process inventory - In-process inventories represent materials that are currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, and include mill in-circuit and leach in-circuit. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective plants. In-process inventories are valued at the weighted average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and (or) leach pads plus the in- process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process. (iv) Precious metals inventory - Precious metals include gold dore and (or) gold bullion. Precious metals that result from the Company’s mining, processing activities are valued at the weighted average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs. (v) Materials and supplies - Materials and supplies are valued at the lower of weighted average cost or replacement value. Cost includes applicable taxes and freight. (f) Property, plant and equipment - Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost of an element of property, plant and equipment comprises the following: the acquisition price or manufacturing cost, including non-reimbursable customs and taxes and any cost necessary to place the asset in operating condition, as anticipated by Management; the estimate of the rehabilitation obligation and, in the case of qualified assets, the financing costs. The purchase price or construction cost corresponds to the total amount paid and fair value of any other consideration provided to acquire the asset. Subsequent costs attributable to property, plant and equipment are capitalized only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably, otherwise the cost is charged to production or expense. Maintenance and repair expenses are charged to the production cost or expense, as necessary, in the period when incurred. Disbursements incurred to replace a component of an item or element of property, plant and equipment are capitalized separately, writing-off the carrying amount of the component being replaced. In the event the component replaced has not been considered as a separate component of the asset item, the replacement value of the new component is used to estimate the carrying amount of the assets being replaced. Assets in the construction stage are capitalized on a separate caption of property plant and equipment. At their completion, the cost is transferred to the appropriate category. The work in progress is not depreciated. Depreciation Land is not depreciated. Other than land, depreciation of property, plant and equipment is calculated using the straight-line method to allocate their cost less their residual value over their estimated useful lives and in the case of assets assigned to the production process of Yanacocha, under the lower of (i) that determined under the units of production method or (ii) the useful life of the mine. The useful lives as follows: Land improvements Between 2 and 4 years Buildings and constructions Between 5 and 10 years Machinery and equipment Between 3 and 10 years Vehicles Between 3 and 4 years Furniture and fixtures Between 3 and 4 years Other equipment Between 3 and 4 years Computer equipment Between 3 and 4 years Leach pads and assets retirement and mine closure Useful life of the mine and (or) process facilities The assets’ useful lives and residual values are reviewed, and adjusted if appropriate, at each date of the consolidated statement of financial position. Any changes in these estimates are prospectively adjusted. Disposal of assets Property, plant and equipment items are written-off at the date they are sold or when no economic benefits are expected from their further use or sale. Gains and losses on disposals of assets are determined by comparing the proceeds with their carrying amounts. These gains or losses are included in the consolidated statements of comprehensive income. (g) Mining rights - Mining rights include acquired interests in production, development and exploration stage properties. The mineral interests are capitalized at their fair value at the acquisition date. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Production stage mining rights represent interests in operating properties that contain proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineralized material consisting of (i) mineralized material such as inferred material within pits; mineralized material with insufficient drill spacing to qualify as proven and probable reserves; and mineralized material in close proximity to proven and
Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Basis for preparation, consolidation and accounting policies	2. Significant accounting principles and policies The significant accounting policies applied in the preparation of the financial statements are summarized below: (a) Basis of presentation - The financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The financial statements have been prepared based on historical cost, except for accounts receivable and/or payable related to embedded derivatives, which have been measured at fair value (see Note 2(d)). The financial statements are presented in United States dollars (US$) and include the years ended December 31, 2020 and 2019. Unless otherwise indicated, all values have been rounded to the nearest thousand. (b) Use of judgments, estimates and assumptions - The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions in order to determine the amounts of the assets and liabilities, and the disclosure of contingent assets and liabilities as of December 31, 2020 and 2019, and the amounts of reported revenues and expenses for the years ended December 31, 2020, 2019 and 2018. Information about significant judgments, estimates and assumptions made by Management in the preparation of the financial statements follows: (b.1) Judgments - (i) Contingencies - By their nature, contingencies will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential amount of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. (ii) Stripping cost - The Company incurs waste removal costs (stripping costs) during the development and production phases of its surface mining operations. Production stripping costs can be incurred both in relation to the production of inventory in that period and the creation of improved access and mining flexibility in relation to ore to be mined in the future. The waste removal cost is included as part of the costs of inventory, while the production stripping costs are capitalized as a stripping activity asset, as part of the “property, plant and equipment” caption, if certain criteria are met. Once the Company has identified its production stripping for its surface mining operation, it identifies the separate components of the ore body. An identifiable component is a specific volume of the ore body that is made more accessible by the stripping activity. Significant judgment is required to identify and define these components, and to determine the expected volumes (e.g., in tons) of waste to be stripped and ore to be mined in each of these components. (b.2) Estimates and assumptions - (i) Determination of mineral reserves - Mineral reserves are the part of a mineral deposit that can be economically and legally extracted from the mine concessions. The Company estimates its mineral reserves based on information compiled by individuals qualified in reference to geological data about the size, depth and form of the ore body, and requires geological judgments in order to interpret the data. The estimation of recoverable reserves involves numerous uncertainties with respect to the ultimate geology of the ore body, including quantities, grades and recovery rates. Estimating the quantity and grade of mineral reserves requires the Company to determine the size, shape and depth of the ore body by analyzing geological data. In addition to the geology, assumptions are required to determine the economic feasibility of mining the reserves, including estimates of future commodity prices and demand, future requirements of capital and production costs, and estimated exchange rates. Revisions in reserve or resource estimates have an impact on the value of mining properties, property, plant and equipment, provisions for cost of mine closure, recognition of assets for deferred taxes and depreciation and amortization of assets. (ii) Units of production depreciation - Estimated mineral reserves are used in determining the depreciation and/or amortization of mine-specific assets. This results in a depreciation/amortization charge proportional to the depletion of the anticipated remaining life-of-mine production. The life of each item, which is assessed at least annually, is impacted by both its physical life limitations and present assessments of economically recoverable reserves of the mine property at which the asset is located. These calculations require the use of estimates and assumptions, including the amount of recoverable reserves. (iii) Provision for remediation and mine closure - The Company assesses its provision for remediation and mine closure quarterly. It is necessary to make estimates and assumptions in determining this provision, including cost estimates of activities that are necessary for the rehabilitation of the site, technological and regulatory changes, interest rates and inflation rates. As discussed in Note 2(j), estimated changes in the fair value of the provision for remediation and mine closure or the useful life of the related assets are recognized as an increase or decrease in the book value of the provision and related asset retirement cost (ARC) in accordance with IAS 16, “Property, Plant and Equipment.” According to the Company’s accounting policies, the provision for remediation and mine closure represents the present value of the costs that are expected to be incurred in the closure period of the operating activities of the Company. Closure budgets are reviewed regularly to take into account any significant change in the studies conducted. Nevertheless, the closure costs of mining units will depend on the market prices for the closure work required, which would reflect future economic conditions. Also, the timing of disbursements depends on the useful life of the mine, which are based on estimates of future commodity prices. If any change in the estimate results in an increase to the provision for remediation and mine closure and related ARC, the Company considers whether or not this is an indicator of impairment of the assets and applies impairment tests in accordance with IAS 36, “Impairments of Assets.” (iv) Inventories - Net realizable value tests are performed at least annually and represent the estimated future sales price of the product based on prevailing spot metals prices, less estimated costs to complete production and bring the inventory to sale. Additionally, in calculating the net realizable value of the Company’s long-term stockpiles, Management also considers the time value of money. Mill and leach stockpiles generally contain lower grade ores that have been extracted from the ore body and are available for copper recovery. Mill stockpiles contain sulfide ores and recovery of metal is through milling and concentrating. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities. Because it is generally impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blast hole cuttings determine the estimated copper grades of material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly depending on several variables, including type of copper recovery, mineralogy and the size of the rock. For newly placed material of active stockpiles, as much as 80 percent of total copper recovery may be extracted during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates are monitored continuously, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. (v) Asset impairment - Management has determined that the Company’s operations consist of one cash generating unit. The Company’s operations are evaluated at least annually in order to determine if there are impairment indicators. If any such indication exists, the Company makes an estimate of the recoverable amount, which is the higher of (i) the fair value less costs of disposal or (ii) the value in use. These assessments require the use of estimates and assumptions, including long-term commodity prices, discount rates, operating costs, and others. Fair value is defined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between willing and knowledgeable parties. The fair value of assets is generally determined as the current value of future cash flows derived from the continuous use of the asset, which includes estimates, such as the cost of future expansion plans and eventual disposal, while applying assumptions that an independent market participant may take into account. The cash flows are discounted by applying a discount rate that reflects the current market, the time value of money and the risks specific to the asset. (c) Functional and reporting currency - The financial statements are presented in United States (US) dollars, which is also the Company’s functional currency. Transactions and balances in foreign currency Foreign currency transactions are those carried out in a currency other than the functional currency. Foreign currency transactions are translated into the functional currency by applying the exchange rate in force on the date the transaction takes place. Monetary assets and liabilities denominated in foreign currencies are converted using the functional currency spot rate in force at the reporting date. Gains and losses as a result of the difference in the exchange rate when currency items are liquidated or when converting currency items at exchange rates that are different from those used for their initial recognition are recognized in the statements of comprehensive income of the period. The Company uses Peruvian Sol (S/) exchange rates published by the Superintendent of Banks, Insurance and Pension Fund Administrators. The published exchange rates were S/3.618 for US$1 for buying and S/3.624 for US$1 for selling as of December 31, 2020, and S/3.311 for US$1 buying and S/3.317 for US$1 for selling as of December 31, 2019. These rates have been applied to the appropriate asset and liability accounts. (d) Financial assets – Initial recognition and measurement - At initial recognition, financial assets are classified and measured at either amortized cost fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company´s business model for managing them. With the exception of trade receivables that do not contain a significant financing component, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component are measured at the transaction price determined under IFRS 15, “Revenue from Contracts with Costumers.” The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Cash and cash equivalents - Cash and cash equivalents are financial assets that may be liquidated immediately, such as bank checking accounts, and other liquid investments with original maturities of three months or less. Accounts Receivables - The Company’s receivables include current and long-term trade and other accounts receivable. These receivables are stated at their transaction value, net of an allowance for expected credit lose. Trade accounts receivable are generated primarily from the Company’s concentrate and cathode sales, are denominated in US dollars, have current maturities, do not bear interest and have no specific guarantees. Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in two categories: - Financial assets at amortized cost (debt instruments). - Financial assets at fair value through profit or loss. Financial assets at amortized cost (debt instruments) - This category is the most relevant to the Company. The Company measures financial assets at amortized cost if both of the following conditions are met: - The financial asset is held within a business model with the objective to collect contractual cash flows, and - The contractual terms of the financial asset give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to impairment. Gains and losses are recognized in the statements of comprehensive income when the asset is derecognized, modified or impaired. This category generally applies to trade and other receivables, net. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statements of financial position at fair value with net changes in fair value recognized in the statements of comprehensive income. Embedded derivatives - Copper Sales - The Company’s copper sales are provisionally priced at the time of shipment. The provisional prices are finalized in a specified future month based on quoted London Metal Exchange (LME) monthly average prices. The Company receives market prices based on prices in the specified future month, which results in price fluctuations recorded through revenues until the date of settlement. The Company recognizes revenues and invoices customers when it transfers control, which is at the time of shipment, based on then-current LME prices, which results in an embedded derivative that is required to be separated from the main contract. The Company’s embedded derivatives from sales are measured at fair value (based on LME spot copper prices) and presented as gains/losses on provisionally priced trade receivables. Molybdenum Sales - The Company’s molybdenum sales are also provisionally priced at the time of shipment. The Company recognizes revenues and invoices customers when it transfers control, which is at the time of shipment, based on the arithmetic mean of the high and low Metals Week Dealer Oxide (MWDO) price. The provisional prices are finalized in a future month, according to the period of quotation, which results in price fluctuations recorded through revenues until the date of settlement, which also results in an embedded derivative that is required to be separated from the main contract. Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - The rights to receive cash flows from the asset have expired; or - The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass-through arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset or, (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of the Company´s continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Impairment of financial assets - The Company recognizes an allowance for expected credit losses for all debt instruments not held at fair value through profit or loss. Expected credit losses are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. Expected credit losses are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, expected credit losses are provided for credit losses that result from default events that are possible within the next 12‑months (12‑month expected credit losses). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (lifetime expected credit losses). For trade receivables and contract assets, the Company applies a simplified approach in calculating expected credit losses. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on the financial asset’s lifetime expected credit losses at each reporting date. The Company considers a financial asset in default when contractual payments are 180 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (e) Financial liabilities - All financial liabilities are recognized initially at fair value and in the case of accounts payable and other financial liabilities, net of directly attributable transaction costs. The Company´s financial liabilities include loans, trade and other payables and other financial liabilities. Loans - Loans are initially recognized at their fair value, net of directly attributable transaction costs. After initial recognition, loans are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the statements of comprehensive income when the liabilities are derecognized as well as through the amortization process. Amortized cost is calculated taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. Amortization under the effective interest rate method is included as financial costs in the statements of comprehensive income. Derecognition - A financial liability is derecognized when the associated obligation is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts are recognized in the statements of comprehensive income. (f) Inventories - Inventories are stated at the lower of cost or net realizable value. Inventory of materials and supplies, as well as saleable products and in-process inventory are determined using the weighted-average cost method. The cost of finished goods and in-process inventory (i.e., stockpiles) includes labor and benefits, supplies, energy and other costs related to the mining and processing of minerals. Net realizable value tests of saleable products and in-process inventory are performed at each reporting date and represent the estimated future sales price using forward metal prices (for the period they are expected to be processed in), less estimated costs to complete production and bring the inventory to sale. The current portion of work-in-process is determined based on the amount the Company expects to process in the next twelve months. Inventories that are not expected to be processed in the next twelve months are classified as long-term inventories. No adjustments to inventories were required as of December 31,2020 and 2019. Provision for obsolescence - Obsolescence allowances are established based on an item-by-item analysis by management. Any amount of obsolescence identified is charged to the statements of comprehensive income in the period it is deemed to have occurred. (g) Property, plant and equipment - Property, plant and equipment are valued at historical cost, including costs that are directly attributed to the construction or acquisition of the asset, net of accumulated depreciation, amortization and impairment. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into operation, the initial estimate of the obligation for mine closure, and borrowing costs for qualifying assets. Repairs and/or improvements that increase the economic life of an asset and for which it is probable that there will be future economic benefit to the Company, are recorded as assets. All other maintenance costs are charged to expense as incurred. Land is not depreciated. Depreciation of assets directly related to the useful life of the mine is calculated using the units-of-production (UOP) method based on the mine’s proven and probable copper reserves. Other assets are depreciated using the straight-line method based on the following estimated useful lives: Years Buildings and other constructions Between 5 and 35 Machinery and equipment Between 2 and 30 Transportation units Between 5 and 7 Furniture and fixtures Between 7 and 10 Other equipment Between 3 and 25 Critical spare parts and other parts which are directly identified with machinery or equipment are included in property, plant and equipment, and the economic life corresponds to the main asset with which they are identified. An item of property, plant and equipment is retired at the time of its disposal or when no future economic benefits are expected from its use or subsequent disposition. Any gain or loss arising at the time of retirement is calculated as the difference between the proceeds from the sale and the book value of the asset and is included in the statements of comprehensive income in the period the asset is retired. The residual value and useful economic lives of the Company’s property, plant and equipment are reviewed, and adjusted if appropriate, at each year end. Impairment - At each reporting date, the Company evaluates if there is any indication that an asset could be impaired. If such an indication exists, the Company estimates the recoverable amount of the asset. The recoverable amount of an asset is the greater of (i) its fair value less costs to sell or (ii) its value in use and is determined for the assets of the mine as a whole, since there are no assets that generate cash revenues independently. When the book value of an asset exceeds its recoverable amount, the asset is considered impaired and is reduced to its recoverable amount. When evaluating the value in use, the future estimated cash flows are discounted to their present value using an after-tax discount rate that reflects current market evaluations of the time value of money and the specific risks to the asset. Losses resulting from the impairment of assets are recognized in the statements of comprehensive income under the categories of expenses consistent with the function of the impaired asset. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The revised valuation cannot exceed the book value that would have been determined, net of depreciation, if an impairment loss for the asset had not been recognized in a previous period. Such a reversal is recognized in the statements of comprehensive income. The Company did not identify any indicators of impairment for the years ended December 31, 2020 and 2019. (h) Leases - The Company assesses all arrangements, at contract inception, to determine whether they are, or contain, a lease. A contract containing a lease conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company is a lessee but is not a lessor in any transactions. The Company applies a single recognition and measurement approach for all leases, except for short-term leases and low-value assets. The Company recognizes lease liabilities representing obligations to make future lease payments and right-of-use assets representing the right to use the underlying assets. (i) Right-of-use assets - The Company recognizes a right-of-use asset at the commencement date of the lease (i.e., the date when the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term or the estimated useful lives of the assets, as follows: Years Land 10 Buildings and other constructions Between 1 and 14 Machinery and equipment Between 3 and 14 The right-of-use assets are also subject to impairment. The Company did not make any impairment adjustments as of December 31, 2020 and 2019. (ii) Lease liabilities - At the commencement date of the lease, the Company recognizes a lease liability measured at the present value of lease payments to be made over the lease term. The lease liability is re-measured when there is a change in future lease payments arising from a change in an index or a rate, if there is a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase option, termination option or extension option is reasonably certain to be exercised. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is generally not readily determinable. After the commencement date, lease liabilities are increased to reflect the accretion of interest and reduced for the lease payments made. (i) Intangible assets - Intangible assets are recorded at cost less accumulated amortization. After the initial recognition, the intangible assets are recorded at their cost less accumulated amortization and any accumulated loss for impairment of use, if applicable. The Company’s intangible assets primarily consist of concessions related to the operation of the port terminal, which are amortized over 20 years. For the years ended December 31, 2020 and 2019, amortization expense was US$1.0 million in both periods. (j) Exploration, development and stripping costs - Exploration costs - Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to the statements of comprehensive income as incurred. Development costs - Development costs are capitalized when the economic and technological feasibility of the project is confirmed, which is generally when the development or project has reached a milestone in accordance with a model established by management. Stripping cost - In accordance with IFRIC 20, “Stripping Cost in the Production Phase of a Surface Mine,” stripping costs incurred in the production phase are capitalized as a component of property, plant and equipment (see Note 2 (b.1) and 7) if the stripping activity improves access to the ore body or enhances an existing asset. The stripping activity asset is subsequently amortized using the UOP method over the component of the ore body benefitted. (k) Provisions - General - A provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that resources of the Company will be required to settle the obligation, and an estimate of the amount of the obligation can be calculated. The expense relating to any provision is presented in the statements of comprehensive income, net of any reimbursement, in the period the provision is established. If the effect of the time value of money is significant, provisions are discounted by applying a discount rate that reflects, where applicable, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a financial expense in the statements of comprehensive income. Mine closure provision - The Company records a mine closure provision when a contractually or legally enforceable obligation arises. The Company estimates the present value of its future obligation for mine closure and increases the carrying amount of the related asset retirement cost (ARC), which is included in property, plant and equipment in the statements of financial position. Subsequently, the mine closure provision is accreted to full value over time and recognized as an interest cost considered in the initial fair value estimate. The related ARC is depreciated using the UOP method over the life of the mine. The Company evaluates its mine closure provision on a quarterly basis and makes adjustments to estimates and assumptions, including scope, future costs and discount rates, as applicable. Changes in the fair value of the mine closure provision or the useful life of the related asset are recognized as an increase or decrease in the book value of the provision and the related ARC in accordance with IAS 16, “Property, Plant and Equipment.” Any decrease in the mine closure provision and related ARC cannot exceed the current book value of the asset; amounts over the current book value are recorded in the statements of comprehensive incom

Significant judgments, estimate

Significant judgments, estimates and assumptions	12 Months Ended
	Dec. 31, 2020
Significant judgments, estimates and assumptions
Significant judgments, estimates and assumptions	3. Significant judgments, estimates and assumptions The preparation of the Group’s consolidated financial statements requires Management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. The estimates and assumptions are continuously evaluated and based on Management´s experience and other facts, including the expectations about future events, which are reasonable under current situation. Uncertainty about these estimates and assumptions could result in outcomes that require material adjustment to the carrying amount of assets and liabilities affected in future periods. Further information on each of these areas and how they affect the various accounting policies are described below and in the relevant notes to the consolidated financial statements. 3.1. Judgments In the process of applying the Group’s accounting policies, Management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: (a) By their nature, contingencies will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential quantum of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. (b) The Group assesses the status of each exploration project of its mining units to determine when the development phase begins. One of the criteria used to evaluate the development start date is when the Group determines that the property can be economically developed. (c) The Group assesses the stage of each mine under development to determine when a mine moves into the production phase. The criteria used to assess the start date are determined based on the unique nature of each mining project, such as the complexity of the project and its location. The Group considers various relevant criteria to assess when the production phase is considered to have commenced. Some of the criteria used to identify the production start date include, but are not limited to: - - - - When a mine development /construction project moves into the production phase, the capitalization of certain mine development costs cease and costs are either regarded as forming part of the cost of inventory or expensed, except for costs that qualify for capitalization relating to mining asset additions or improvements. It is also at this point that depreciation or amortization commences. (d) Depreciation is calculated under the straight-line method of accounting considering the lower of estimated useful lives of the assets or estimated reserves of the mining unit. See note 2.4(h) for useful lives. (e) The Group applies judgement for determining the timing of satisfaction of services of revenue from contracts with customers. The Group has concluded that revenue related to services such as energy generation and transmission, industrial services, and other services is to be recognized over time because the customer simultaneously receives and consumes the benefits provided by the Group. The Group has determined that the output method is the best method in measuring progress of the services mentioned above due to the Group has the right to invoice an amount that corresponds directly to the performance completed to date. 3.2. Estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market change or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur. (a) Recoverable proven and probable reserves and resources are the part of a mineral deposit than can be economically and legally extracted or produced at the time of the reserve and resources determination. The determination of reserves involves numerous uncertainties with respect to the ultimate geology of the ore bodies, including quantities, grades and recovery rates. Estimating the quantity and grade of reserves and resources requires the Group to determine the size, shape and depth of its ore bodies by analyzing geological data, such as sampling of drill holes, tunnels and other underground workings. In addition to the geology of the Group’s mines, assumptions are required to determine the economic feasibility of mining these reserves, including estimates of future commodity prices and demand, the mining methods the Group used and the related cost incurred to develop and mine its reserves and resources. The process to estimate proven and probable ore reserves and resources is audited by an independent consultant each year. All estimated reserves and resources represent estimated quantities of mineral proven and probable that under current conditions can be economically and legally processed. Reviews could occur on reserve and resources estimates due to, among others, revisions to the data or geological assumptions, changes in prices, production costs and results of exploration activities. Changes in estimated reserves and resources could affect mainly the depreciation of development costs, property, plant and equipment related directly to mining activity, the provision for mine closure, the assessment of the deferred asset’s recoverability and the amortization period for development costs. (b) Reserves and resources are used in determining the depreciation and amortization of mine-specific assets. This results in a depreciation or amortization charge proportional to the depletion of the anticipated remaining life of mine production. Each mine’s life is assessed annually to evaluate: (i) physical life limitations and (ii) present assessments of economically recoverable reserves of the mine property. These calculations require the use of estimates and assumptions, including the amount of recoverable reserves. Changes are recorded prospectively. (c) The Group assesses its provision for closure of mining units at each reporting date using a discounted future cash flow method. In determining the amount of the provision, it is necessary to make significant assumptions and estimates, because exist many factors that can affect the final amount of this provision. These factors include estimates of the extent and costs of closure activities, technological changes, regulatory changes, cost increases as compared to the inflation rates, and changes in discount rates and periods where are expected that such costs will be incurred. These uncertainties may result in future actual expenditure differing from the amounts currently provided. The provision at the reporting date represents Management’s best estimate of the present value of the future closure costs required. (d) Inventories are classified as current or non-current depending on the length of time that Management estimates will be needed to reach the production state of concentrate extraction for each mining unit. Net realizable value tests are performed at each reporting date and represent the estimated future sales price of the product the entity expects to realize when the product is processed and sold, less estimated costs to complete production and bring the product to sale. Additionally, Management considers the time value of money in calculating the net realizable value of its non-current inventories. Classified minerals, which are materials with metal content that were removed from the pit of the Colquijirca mining unit for treatment at the expansion operation plant, contain lower grade ore than the average of treated minerals and are available to continue in the process of recovery of mineral and concentrates. Because it is generally impracticable to determine the mineral contained in the classified mineral located in the deposit field near Tajo Norte of Colquijirca mining unit by physical count, reasonable estimation methods are employed. The quantity of minerals delivered to classified mineral is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated copper, lead and zinc grades of material delivered to classified minerals. For minerals outside leach platform inventories, finished and in-progress goods are measured by estimating the number of tons added and removed. The number of contained gold ounces is based on assay data, and the estimated recovery percentage is based on the expected processing method. Tonnages and ounces of mineral are verified by periodic surveys. For minerals inside leach platform inventories, reasonable estimation methods are employed because it is generally impracticable to determine the mineral contained in leach platforms by physical count. The quantity of material delivered to leach platforms are based on surveyed volumes of mined material and daily production records. Sampling and assaying of blasthole cuttings determine the estimated ore grades of material delivered to leach platforms. (e) The Group assesses each asset or cash generating unit in each reporting period to determine whether any indication of impairment exists. Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered the higher of (i) the fair value less costs of disposal and (ii) value in use. The assessments require the use of estimates and assumptions such as long-term commodity prices, discount rates, operating costs, among others. These estimates and assumptions are subject to risk and uncertainty. The fair value of mining assets is generally calculated by the present value of future cash flows arising from the continued use of the asset, which include some estimates, such as the cost of future expansion plans, using assumptions that a third party might consider. The future cash flows are discounted to their present value using a discount rate that reflects current market assessment of the value of money over time, as well as specific risks of the asset or cash-generating unit under evaluation. The Group has determined the operations of each mining unit as a single cash generating unit. (f) Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant Management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax planning strategies. (g) The contingent consideration arising from a business combination is measured at fair value at the date of acquisition, as part of the business combination. If the contingent consideration is eligible to be recognized as a financial liability, the fair value is subsequently re-measured at each date of the consolidated financial statements. Determining the fair value of the contingent consideration is based on a model of discounted future cash flows. The key assumptions take into account the likelihood of achieving each goal of financial performance as well as the discount factor.
Minera Yanacocha SRL and subsidiary [Member]
Significant judgments, estimates and assumptions
Significant judgments, estimates and assumptions	3. Significant judgments, estimates and assumptions The preparation of the Company’s consolidated financial statements requires Management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. The estimates and assumptions are continuously evaluated and based on Management’s experience and other facts, including the expectations about future events which are reasonable under the current situation. Uncertainty about these estimates and assumptions could result in outcomes that require material adjustment to the carrying amount of assets and liabilities affected in future periods. Further information on each of these areas and how they impact the various accounting policies are described below and also in the relevant notes to the consolidated financial statements. 3.1. Judgments In the process of applying the Company’s accounting policies, Management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements: (a) Contingencies - By their nature, contingencies will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential quantum of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. (b) Development start date - The Company assesses the status of each exploration project to determine when the development phase begins. One of the criteria used to evaluate the development start date is when the Company determines that the property can be economically developed based on the results of feasibility studies. (c) Production start date - The Company assesses the stage of each mine under development to determine when a mine moves into the production phase. The determination of the start date is based on the unique nature of each mining project; such as the complexity of the project and its location. The Company considers various relevant criteria to assess when the production phase is considered to have commenced. Some of the criteria used to identify the production start date include, but are not limited to: - Completion of a reasonable period of testing of the mine plant and equipment. - Ability to produce metal in saleable form (within specifications). - Ability to sustain ongoing production of metal. When a mine development /construction project moves into the production phase, the capitalization of certain mine development costs ceases and the cost of mining waste ore are either regarded as forming part of the cost of inventory or expensed, except for costs that qualify for capitalization relating to mining asset additions or improvements. It is also at this point that depreciation or amortization commences. (d) Useful life of property, plant and equipment - Depreciation is calculated under the straight-line method of accounting considering the lower of estimated useful lives of the assets or estimated reserves of the mining unit. See Note 2.4 (f) for useful lives. (e) Revenue from contracts with customers - The Company applied the judgement for determining the timing of satisfaction of services of revenue from contracts with customers. The Company concluded that the performance obligation is completed once the shipment confirmation is issued when the refinery receives the dore, allowing the fully payment in cash according the contracts. As a result, all risk of loss and damage of the gold dore pass to refiner upon reception. The Company determined that the only performance obligation is the sale of gold dore. 3.2. Estimates and assumptions - The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market change or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur. (a) Determination of mineral reserves and resources - The Company calculates its reserves using methods generally applied by mining and industry according to SEC guidance. All estimated reserves represent estimated quantities of mineral proven and probable that under current conditions can be economically and legally processed. The process of estimating quantities of reserves is complex and requires making subjective decisions when evaluating all geological, geophysical, engineering and economic information available. Reviews could occur on reserve estimates due to, among others, revisions to the data or geological assumptions, changes in prices, production costs and results of exploration activities. Changes in estimated reserves could affect the carrying value of mining concessions, development costs and property, plant and equipment, the charges in result for depreciation and amortization, and the carrying amount of the provision for mine closure. (b) Units of production depreciation - Estimated economically recoverable reserves are used in determining the depreciation and (or) amortization of mine-specific assets. This results in a depreciation/amortization charge proportional to the depletion of the anticipated remaining life-of-mine production. Each mine’s life is assessed at least annually to evaluate (i) physical life limitations and (ii) present assessments of economically recoverable reserves of the mine property. These calculations require the use of estimates and assumptions, including the amount of recoverable reserves. Changes in estimates are accounted for prospectively. (c) Provision for mine closure - The Company assesses its provision for mine closure at each reporting date. The ultimate rehabilitation costs are uncertain, and cost estimates can vary in response to many factors, including estimates of the extent and costs of closure activities, technological changes, regulatory changes, cost increases as compared to the inflation rates, and changes in discount rates. These uncertainties may result in future actual expenditure differing from the amounts currently provided. The provision at reporting date represents Management’s best estimate of the present value of the future closure costs required. (d) Inventories - Inventories are classified as current or non-current depending on the length of time that Management estimates will be used in the production or extraction for each mining unit. Inventories are measured at the lower of its weighted average cost or its net realizable value. Net realizable value tests are performed at each reporting date and represent the estimated future sales price of the product the entity expects to realize when the product is processed and sold, less estimated costs to complete production and bring the product to sale. Stockpiles and ore on leach pads are measured by estimating the number of tons added and removed from the stockpile and leach pads, the number of contained gold ounces, assay data, and the estimated recovery percentage based on the expected processing method. Stockpile and ore on leach pad tonnages are verified by periodic surveys. For minerals inside leach platform inventories, reasonable estimation methods are employed because it is generally impracticable to determine the mineral contained in leach platforms by physical count. The quantity of material delivered to leach platforms are based on surveyed volumes of mined material and daily production records. Sampling and assaying determine the estimated ore grades of material delivered to leach platforms. (e) Impairment of non-financial assets - The Company assesses each asset or cash generating unit in each reporting period to determine whether any indication of impairment exists or the reversal of impairment previously recorded (e.g. fluctuation of gold prices, community relations and social license to operate). Where an indicator of impairment exists, a formal estimate of the recoverable amount is made, which is considered to be the higher of (i) the fair value less costs of disposal and (ii) value in use. The assessments require the use of estimates and assumptions such as long-term commodity prices, discount rates and operating costs, among others. These estimates and assumptions are subject to risk and uncertainty. The fair value of mining assets is calculated by the present value of future cash flows arising from the continued use of the asset, which include some estimates, such as the cost of future expansion plans, using assumptions that a third party might consider. The future cash flows are discounted to their present value using a discount rate that reflects current market assessment of the value of money over time, as well as specific risks of the asset or cash-generating unit under evaluation. The Company has determined the operations of its mining units Yanacocha and Conga as the cash generating units.

Standards issued but not effect

Standards issued but not effective	12 Months Ended
	Dec. 31, 2020
Standards issued but not effective
Standards issued but not effective	4. Standards issued but not effective Certain new accounting standards and interpretations have been published that are not mandatory for December 31, 2020 reporting periods and have not been early adopted by the Group. These standards are not expected to have a material impact on the Group in the current or future reporting periods and on foreseeable future transactions. Amendments to IAS 1: Classification of Liabilities as Current or Non-current - In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: - What is meant by a right to defer settlement. - That a right to defer must exist at the end of the reporting period. - That classification is unaffected by the likelihood that an entity will exercise its deferral right. - That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and must be applied retrospectively. The Group is currently assessing the impact the amendments will have on current practice and whether existing loan agreements may require renegotiation. Reference to the Conceptual Framework – Amendments to IFRS 3 - In May 2020, the IASB issued Amendments to IFRS 3 Business Combinations - Reference to the Conceptual Framework. The amendments are intended to replace a reference to the Framework for the Preparation and Presentation of Financial Statements, issued in 1989, with a reference to the Conceptual Framework for Financial Reporting issued in March 2018 without significantly changing its requirements. The Board also added an exception to the recognition principle of IFRS 3 to avoid the issue of potential ‘day 2’ gains or losses arising for liabilities and contingent liabilities that would be within the scope of IAS 37 or IFRIC 21 Levies, if incurred separately. At the same time, the Board decided to clarify existing guidance in IFRS 3 for contingent assets that would not be affected by replacing the reference to the Framework for the Preparation and Presentation of Financial Statements. The amendments are effective for annual reporting periods beginning on or after January 1, 2022 and apply prospectively. Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 - In May 2020, the IASB issued Property, Plant and Equipment — Proceeds before Intended Use, which prohibits entities deducting from the cost of an item of property, plant and equipment, any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The amendments are not expected to have a material impact on the Group. Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 – In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments are effective for annual reporting periods beginning on or after January 1, 2022. The Group will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. Amendments to IFRS 7, IFRS 9 and IAS 39 Interest Rate Benchmark Reform - The amendments to IFRS 9 and IAS 39 Financial Instruments: Recognition and Measurement provide several reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainty about the timing and/or amount of benchmark-based cash flows of the hedged item or the hedging instrument. These amendments have no impact on the consolidated financial statements of the Group as it does not have any interest rate hedge relationships.
Minera Yanacocha SRL and subsidiary [Member]
Standards issued but not effective
Standards issued but not effective	4. Standards issued but not effective The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s consolidated financial statements are disclosed below. The Company intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Amendments to IAS 1: Classification of Liabilities as Current or Non-current In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarified: - What is meant by a right to defer settlement. - That a right to defer must exist at the end of the reporting period. - That classification is unaffected by the likelihood that an entity will exercise its deferral right. - That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification. The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and must be applied retrospectively. Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 In May 2020, the IASB issued Property, Plant and Equipment — Proceeds before Intended Use, which prohibits entities deducting from the cost of an item of property, plant and equipment, any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37: In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments are effective for annual reporting periods beginning on or after January 1, 2022. The Group will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. IFRS 9 Financial Instruments: '10 percent 'test fee for derecognition of financial liabilities: As part of its 2018-2020 annual improvement process to IFRS, the IASB issued an amendment to IFRS 9. The amendment clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different. of the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by the borrower or lender on behalf of the other. An entity applies the amendment to financial liabilities that are amended or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment. The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and early adoption is permitted. The Group will apply the modifications to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the Company applies the modification for the first time. The management has evaluated the impact and expects that these modifications will not have a significant impact on the Company's consolidated financial statements.

Transactions in soles

Transactions in soles	12 Months Ended
	Dec. 31, 2020
Transactions in soles
Transactions in soles	5. Transactions in soles Transactions in soles are completed using exchange rates published by the Superintendent of Banks, Insurance and A.F.P. As of December 31, 2020, the exchange rates for U.S. dollars published by this Institution were US$0.2764 for buying and US$0.2759 for selling (US$0.2968 for buying and US$0.2959 for selling as of December 31, 2019), and have been applied by the Group for the assets and liabilities accounts, respectively. As of December 31, 2020 and 2019, the Group presents the following assets and liabilities originally denominated in soles by its equivalent in U.S. dollars: 2020 2019 US$(000) US$(000) Assets Cash and cash equivalents 8,606 6,796 Trade and other receivables 159,099 139,624 Income tax credit 19,837 31,919 187,542 178,339 Liabilities Trade and other payables (47,705) (60,311) Income tax payable (3,162) (5,650) Provisions, contingent liabilities and other liabilities (38,574) (41,515) (89,441) (107,476) Net asset position 98,101 70,863

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents
Cash and cash equivalents	6. Cash and cash equivalents (a) 2020 2019 US$(000) US$(000) Cash 173 304 Bank accounts (b) 185,276 37,836 Time deposits (c) 50,000 171,906 235,449 210,046 (b) (c)
Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Cash and cash equivalents	5. Cash and cash equivalents (a) 2020 2019 US$(000) US$(000) Petty cash 22 22 Bank accounts 51,279 56,822 Term deposits (b) 819,628 761,659 870,929 818,503 (b) 2020 2019 US$(000) US$(000) JP Morgan 404,319 501,916 Citibank 215,073 214,282 Santander 50,114 — BNP Paribas 50,080 45,461 Standard Chartered 50,031 — MUFG Bank 50,011 — 819,628 761,659 The bank accounts and term deposits yield interest at market rates. The carrying amounts approximate the fair value due to the short maturity of these balances, which are less than 90 days.
Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Cash and cash equivalents	3. Cash and cash equivalents This item is made up as follows: December 31, December 31, 2020 2019 US$(000) US$(000) Cash in banks 3,910 10,119 Cash equivalents (a) 529,820 471,372 533,730 481,491 (a)

Related parties

Related parties	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of transactions between related parties [line items]
Related parties	4. Related parties Accounts receivable from related parties and accounts payable to related parties are made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Accounts receivable from related parties Parent Company FMC (a) 462,304 401,211 Other related parties Sumitomo (b) 16,352 10,760 Climax Molybdenum Marketing Corporation (c) 14,319 5,022 Embedded derivatives Embedded derivatives (d) 101,434 36,077 Total accounts receivable from related parties 594,409 453,070 Classification by measurement Accounts receivables from related parties (not subject to provisional pricing) 116,740 121,995 Accounts receivables from related parties (subject to provisional pricing) 376,235 294,998 Embedded derivatives (d) 101,434 36,077 594,409 453,070 December 31, 2020 December 31, 2019 US$(000) US$(000) Accounts payable to related parties Parent Company FMC — 367 Other related parties Freeport-McMoRan Sales Company Inc. 2,883 3,086 Minera Freeport-McMoRan South America Ltda 402 561 Freeport Cobalt OY 161 — Total accounts payable, short term 3,446 4,014 (a) (b) (c) (d) Short-term and long-term employee benefits are recognized as expenses during the period earned. Benefits received by key management personnel represent 0.45% of total revenues for the year 2020 (0.42% for the year 2019). For years, 2020, 2019 and 2018, Freeport granted stock-based compensation to certain key management personnel, see Note 12(d). As of December 31, 2020 and 2019, the Company did not have any other long-term benefits. Terms and transactions with related parties - Transactions with related parties are made at normal market prices. Outstanding balances are unsecured, interest free and settlement occurs in cash. There have been no guarantees provided or received for any account receivables from related parties. As of December 31, 2020, 2019 and 2018, the Company had not recorded any expected credit loss in accounts receivable from related parties. The following is a summary of the transactions with related entities that affected results (not including copper and molybdenum sales described in Note 14) for the year ended December 31, 2020 and 2019: December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Revenues Supplies 768 — — Demurrage 226 688 524 Reimbursement — 491 76 994 1,179 600 December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Expenses Reimbursement of information technology services 15,900 11,533 11,836 Commissions 7,801 8,953 8,292 Stock-based compensation (a) 2,259 1,560 1,174 Management fee 2,159 2,923 2,743 Supplies 492 908 1,133 Fixed assets and spare parts 14,265 28,611 25,877 39,443 (a)

Trade and other receivables, ne

Trade and other receivables, net	12 Months Ended
	Dec. 31, 2020
Trade and other receivables, net
Trade and other receivables, net	7. Trade and other receivables, net (a) 2020 2019 US$(000) US$(000) Trade receivables, net (b) Domestic clients 129,283 141,005 Foreign clients 46,612 78,860 Related entities, note 30(b) 6,073 6,247 181,968 226,112 Allowance for expected credit losses (f) (22,128) (22,016) 159,840 204,096 Other receivables Tax claims (g) 62,373 44,014 Value added tax credit 44,389 54,328 Accounts receivables to third parties 28,277 31,478 Advances to suppliers 20,569 9,275 Tax deposits (d) 12,413 6,644 Due from for sales of assets (h) and note 1(e) 8,233 21,648 Interest receivable 2,648 3,244 Related entities, note 30(b) 2,312 2,967 Refund applications of value added tax (c) 581 1,657 Loans to personnel 408 1,128 Bank accounts in trust (e) 376 2,510 Dividends receivable — 2,501 Other minor 475 743 183,054 182,137 Allowance for expected credit losses (f) (9,717) (10,006) 173,337 172,131 Total trade and other receivables, net 333,177 376,227 Classification by maturity: Current portion 230,830 287,712 Non-current portion 102,347 88,515 Total trade and other receivables, net 333,177 376,227 Classification by nature: Financial receivables 288,207 320,242 Non-financial receivables 44,970 55,985 Total trade and other receivables, net 333,177 376,227 Classification by measurement: Trade receivables (not subject to provisional pricing) 33,287 38,550 Trade receivables (subject to provisional pricing) 126,553 165,546 Other accounts receivables 173,337 172,131 Total trade and other receivables, net 333,177 376,227 (b) (c) (d) (e) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 2,510 2,782 2,372 Increase — 166 410 Decrease (2,134) (438) — Final balance 376 2,510 2,782 (f) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 32,022 32,102 32,184 Provision for trade receivables, note 24 126 — 18 Provision for other receivable, note 26 4 25 1,334 Provision of the period 130 25 1,352 Foreign exchange difference (307) 57 (173) Write off of the period — (162) (410) Reversals of the period, note 26 — — (45) Other minor — — (806) Final balance 31,845 32,022 32,102 Trade receivables 22,128 22,016 22,013 Other receivables 9,717 10,006 10,089 31,845 32,022 32,102 The allowance for expected credit losses of other receivables is related to accounts receivables from third parties. In the opinion of the Group’s Management, the balance of the allowance for expected credit losses is sufficient to cover adequately the risks of failure to date of the consolidated statement of financial position. (g) Disbursement 2020 2019 Detail date US$(000) US$(000) Buenaventura - SUNAT seizure for payment on account from January to December 2009; January and February 2010. December 2019 33,240 36,321 Forced payment of part of the tax liability debt for fiscal year 2007. November and December 2020 19,918 — Inminsur's tax liability debt (absorbed by Buenaventura), by the inspection process for the years 1996-1997 and claimed in court. May 2017 1,403 1,412 Payment of the tax liability debt imputed by SUNAT in the IGV inspection process January-December 2014 to benefit from the gradual nature of the fine. November 2020 1,311 — Forced payment of part of the tax debt for fiscal year 2010. December 2020 498 — 56,370 37,733 Rio Seco - Forced payment of part of the VAT tax liability for 2012. July to September 2019 3,279 3,398 El Brocal - Payment under protest of the tax liability for fiscal year 2011. June 2014 2,303 2,517 Payment of the fine for the benefit of reducing the fine for fiscal year 2015. January 2020 402 — Other minor — 19 101 2,724 2,618 Consorcio Energético de Huancavelica S.A. - Payment of a fine for the benefit of reducing the fine for fiscal year 2011. July 2016 — 265 62,373 44,014 (h)
Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Trade and other receivables, net	6. Trade and other receivables, net (a) 2020 2019 US$(000) US$(000) Trade receivables, net Foreign clients (subject to provisional pricing) 16,919 683 Other receivables Credit of tax on net assets 21,676 23,648 Advances to suppliers 7,095 9,872 Related entities, note 24(c) 2,300 598 Tax claims 386 3,946 Other 2,728 5,247 34,185 43,311 Allowance for expected credit losses (b) (1,384) (1,384) 32,801 41,927 Total trade and other receivables, net 49,720 42,610 By maturity: Current 28,044 18,962 Non-current 21,676 23,648 Total 49,720 42,610 Classification by nature: Financial receivables 27,658 15,016 Non-financial receivables 22,062 27,594 49,720 42,610 The trade receivables are related to concentrate sold (copper and silver by-products). At December 31, 2020 and 2019 there were no material collectability issues that required an allowance for expected credit losses on the trade receivable balance. Trade receivables (not subject to provisional pricing) are non-interest bearing and are generally negotiated on terms of 30 days. (b) 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 1,384 1,384 1,384 Additions/Deductions — — — Ending balance 1,384 1,384 1,384

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2020
Inventory, net
Inventories, net	8. Inventories, net (a) 2020 2019 US$(000) US$(000) Finished goods 2,525 2,084 Products in process (b) 52,619 47,652 Spare parts and supplies 76,937 74,033 132,081 123,769 Provision for impairment of value of inventory (c) (31,117) (25,402) 100,964 98,367 Classification by use: Current portion 77,327 97,973 Non-current portion 23,637 394 100,964 98,367 (b) (c) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 25,402 23,163 11,603 Continuing operations: Provision for impairment of finished and in progress goods, note 21(a) 8,920 7,329 4,640 Reversal for impairment of finished and in progress goods, note 21(a) (3,866) (9,472) (119) Provision for impairment of spare parts and supplies, note 26(a) 17,266 15,703 11,704 Reversal for impairment of spare parts and supplies, note 26(a) (15,762) (11,641) (4,665) Sale of mining unit, note 1(e) (1,220) — — Discontinued operations, note 1(e): Provision for impairment of spare parts and supplies 1,220 843 — Reversal for impairment of spare parts and supplies (843) (523) — Final balance 31,117 25,402 23,163 During 2020, the increase in the provision of finished products and in process was generated by the higher cost incurred as a consequence of the lower production of the Tambomayo and Uchucchacua mining units due to lower recoveries. In the opinion of Group’s Management, the provision for impairment of value of inventory adequately covers this risk as of the date of the consolidated statements of financial position.
Minera Yanacocha SRL and subsidiary [Member]
Inventory, net
Inventories, net	7. Inventories, net (a) 2020 2019 US$(000) US$(000) Precious metals 12,559 8,021 Leach in-circuit 3,117 5,158 Mill in-circuit 2,093 1,332 Materials and supplies 41,123 45,832 58,892 60,343 Allowance for obsolescence of materials and supplies (b) (6,595) (6,098) 52,297 54,245 (b) 2020 2019 2019 US$(000) US$(000) US$(000) Opening balance 6,098 7,515 7,076 Provision for impairment of materials and supplies 1,459 1,898 1,887 Reversal of provision for impairment of materials and supplies (962) (3,315) (1,448) Ending balance 6,595 6,098 7,515 Reversals of impaired materials are due to disposals of impaired materials that offset the accumulative provision in each period.
Sociedad Minera Cerro Verde S.A.A. [Member]
Inventory, net
Inventories, net	5. Inventories, net This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Materials and supplies 368,996 348,035 Work-in-process (WIP) (a) 176,813 173,190 Finished goods: Copper concentrate 16,563 23,890 Copper cathode 3,826 6,321 Molybdenum concentrate 700 1,268 Less: Provision for obsolescence of materials and supplies (104) (507) 566,794 552,197 Non-current Work-in-process (WIP) (a) 301,075 255,123 Total inventories 867,869 807,320 (a)

Other non-financial assets

Other non-financial assets	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of other non financial assets [Line Items]
Other non-financial assets	6. Other non-financial assets This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Value added tax (VAT) credit 40,300 27,414 Other taxes to be recovered 1,060 2,745 Income tax prepayments and/or benefits (a) — 75,521 41,360 105,680 Non-current Other receivables (b) 190,501 186,626 Income tax prepayments and/or benefits (a) 13,669 52,559 Other taxes to be recovered 1,457 — 205,627 239,185 Total other non-financial assets 246,987 344,865 (a) The balance as of December 31, 2020, represents income tax benefits from the years 2015 and 2016 determined in accordance with the IFRIC 23, “Uncertainty over Income Tax Treatments”. The balance as of December 31, 2019, represents disbursements made by the Company for the prepayment of income tax, which the Company expects to use to offset future tax obligations (see Note 13(b)) also includes income tax benefits from the years 2013 to 2018 as part of the adoption of IFRIC 23. During 2020, the Company applied a portion of this balance against the income tax payable as determined by the tax authority. (b) Represents disbursements made under protest by the Company in connection with disputed tax assessments related to reviews by SUNAT (Superintendencia Nacional de Administración Tributaria) from the years 2003 to 2012 (see Note 13(c) and 13(e)). According to current tax procedures and the timeframe for resolving these types of claims, management and its legal advisors expect resolution of this matter will be favorable to the Company and amounts will be recoverable.

Stockpiles and ore on leach pad

Stockpiles and ore on leach pads, net	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of stockpiles and ore on leach pads [Line Items]
Stockpiles and ore on leach pads, net	8. Stockpiles and ore on leach pads, net (a) 2020 2019 US$(000) US$(000) Current portion - Stockpiles 7,363 23,769 Ore on leach pads 124,364 139,991 Net realizable value adjustment (b) (10,212) (28,837) 121,515 134,923 Non-current portion - Stockpiles 33,088 35,888 Ore on leach pads 39,674 88,223 Net realizable value adjustment (b) (3,075) (19,088) 69,687 105,023 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance, note 18 47,925 89,127 62,540 Provision 37,880 33,464 90,365 Reversal of provision (72,518) (74,666) (63,778) Ending balance, note 18 13,287 47,925 89,127 Provision reversals correspond to improvements of the overall long-term market conditions that reduced the gap between stockpiles and leach pads’ cost and their net realizable value.

Prepaid expenses

Prepaid expenses	12 Months Ended
	Dec. 31, 2020
Prepaid expenses
Prepaid expenses	9. Prepaid expenses (a) 2020 2019 US$(000) US$(000) Prepaid energy services(b) 25,692 26,582 Prepaid insurance 15,794 13,568 Deferred costs of works for taxes 4,855 4,138 Other prepaid expenses 4,174 2,373 50,515 46,661 Classification by maturity: Current portion 25,709 20,969 Non-current portion 24,806 25,692 50,515 46,661 (b)

Financial Instrument at fair va

Financial Instrument at fair value	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure for available-for-sale financial assets [Line Items]
Financial instruments at fair value	9. Financial instruments at fair value In November 2008, the Company funded the San Jose Reservoir Trust an amount of US$13 million to ensure the continuity of the Company’s operations in the San Jose Reservoir after 2018. Such trust is irrevocable and is a separate legal entity of the Company. The grantor is the Company, the trustee is the Banco de Crédito del Perú and the beneficiary is the Company; therefore, the Company consolidates the trust. As of December 31, 2020 and 2019, the assets in the trust amount to US$25,168 and US$24,417, respectively and are represented by financial instruments at fair value. During the years ended December 31, 2020, 2019 and 2018, an increase in fair value of the debt instruments was recognized in other comprehensive income for the amount of US$123, and an increase of US$1,246 and a decrease US$91 during 2019 and 2018, respectively. During the years ended December 31, 2020 and 2019 the change in fair value of the investments in marketable stocks for US$ (207) and US$821, respectively, were recognized as Finance income and Finance costs in the consolidated statements of comprehensive income.

Investments in associates and j

Investments in associates and joint venture	12 Months Ended
	Dec. 31, 2020
Investments in associates and joint venture
Investments in associates and joint venture	10. Investments in associates and joint venture (a) Share in equity 2020 2019 2020 2019 % % US$(000) US$(000) Associates Sociedad Minera Cerro Verde S.A.A. 19.58 19.58 1,209,126 1,155,359 Minera Yanacocha S.R.L. 43.65 43.65 157,835 230,000 Compañía Minera Coimolache S.A. 40.10 40.10 104,833 98,426 Tinka Resources Ltd. 19.30 — 12,862 — 1,484,656 1,483,785 Joint venture (d) 2,254 2,627 Other minor investments 1,865 1,835 1,488,775 1,488,247 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Associates Sociedad Minera Cerro Verde S.A.A. 53,767 76,451 23,444 Compañía Minera Coimolache S.A. 10,055 12,883 10,994 Minera Yanacocha S.R.L. (72,219) (41,580) (35,582) Tinka Resources Ltd. (868) — — (9,265) 47,754 (1,144) Joint venture (252) (44) — (9,517) 47,710 (1,144) Investments held by the Group in its associates Minera Yanacocha S.R.L. (through its subsidiary Compañía Minera Condesa S.A.) and Sociedad Minera Cerro Verde S.A.A., represent the most significant investments of the Group. Its operations are strategic to the Group’s activities and participation in their results has been significant in relation to profits (losses) of the Group in the years 2020, 2019 and 2018. The following relevant information on these investments is as follows: Investment in Minera Yanacocha S.R.L.- The Group, through its subsidiary Compañía Minera Condesa S.A., has an interest of 43.65 percent of Minera Yanacocha S.R.L. (hereinafter “Yanacocha”). Yanacocha is engaged in gold production and exploration and development of gold and copper in their own concessions or owned by S.M.R.L. Chaupiloma Dos de Cajamarca (subsidiary of the Group), with which signed a contract of use of mineral rights. The Quecher Main project of Yanacocha, an oxide deposit, which is a new open pit within the existing footprint of Yanacocha which began operating in October 2019. This project will add oxide production at Yanacocha and will extend the life of the Yanacocha operation to 2027. During 2020, the ounce production of the project was 55,413 ounces. In addition, Yanacocha owns the Conga project which consists in two deposits of gold and porphyry of copper located at northeast of Yanacocha operating area in the provinces of Celendín, Cajamarca and Hualgayoc (Peru). Because of local communities and political protests for potential water impacts of the project development activities and construction, the projects are suspended since November 2011. To date, Yanacocha’ s management has been making only water support activities recommended by independent experts, mainly the construction of water reservoirs, before carrying out any development project. In December 2017, Yanacocha acquired 63.92 million of shares (share of 5%) held by International Finance Corporation (IFC) in Yanacocha, for an amount of US$47.9 million. In June 2018, Sumitomo Corporation (Sumitomo) paid US$48 million for the five percent stake in the ownership interest in Yanacocha for the proportion held prior to the repurchase of the IFC’s ownership stake in December. As a result of that acquisition, the Company recognized a lower value with respect to Yanacocha’s equity participation. In February 2020, the Supreme Court resolution was published, whereby Yanacocha received notification of an unfavorable result in the Tax Dispute related to the amortization of contractual rights (see note 29(d)) for which Yanacocha recorded a liability in term of tax payable for US$8.1 million and recorded interests and penalties for US$21.0 million in its financial statements as of December 31, 2019. The potential outstanding liability in this matter amounts to US$61 million. During 2020, Yanacocha registered an amount of US$2.1 million related to workers participation related to this resolution. Yanacocha´s Management concluded that is not possible to fully predict the outcome of this litigation. The table below presents key financial data from the financial statements of Yanacocha under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 1,099,590 1,060,455 Non-current assets 1,213,848 1,251,617 Current liabilities (282,986) (190,577) Non-current liabilities (1,706,066) (1,631,783) Shareholders' equity, net 324,386 489,712 Groups’ interest 141,594 213,759 Goodwill 16,241 16,241 157,835 230,000 2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 620,162 739,302 680,618 Other comprehensive profit (loss): 1,246 (91) Net loss from continued operations (165,449) (95,257) (81,517) Share in results (72,219) (41,580) (35,582) During the years 2020, 2019 and 2018, the Yanacocha´s Management evaluated and concluded that there are no indicators of impairment of its long-lived assets; in addition, the Group’s management determined that there was no objective evidence that its investment in Yanacocha is impaired as of December 31, 2020 and 2019. Investment in Sociedad Minera Cerro Verde S.A.A. (Cerro Verde) - Cerro Verde is engaged in the extraction, production and marketing of cathodes and copper concentrate from its mining unit that is located in Uchumayo, Arequipa, Peru. The table below presents the key financial data from the financial statements of Cerro Verde under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 1,754,888 1,614,928 Non-current assets 6,012,571 6,194,496 Current liabilities (450,680) (420,786) Non-current liabilities (1,681,451) (2,029,315) Shareholders' equity, net 5,635,328 5,359,323 Group’s interest 1,101,363 1,047,596 Goodwill 107,763 107,763 1,209,126 1,155,359 2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 2,538,593 2,896,894 3,061,930 Profit for the year 274,544 390,377 119,710 Share in results 53,767 76,451 23,444 The Group's management determined that there was no objective evidence that its investment in Cerro Verde is impaired as of December 31, 2020 and 2019. Market capitalization: As of December 31, 2020 and 2019, total market capitalization of shares maintained by the Group in Cerro Verde was US$1,434 million and US$1,323 million, respectively (market capitalization value by each share of US$20.92 and US$19.30, respectively). Investment in Compañía Minera Coimolache S.A. (Coimolache) - Coimolache is involved in the production and the sales of gold and silver from its open-pit mining unit located in Cajamarca, Peru. The table below presents the key financial data from the financial statements of Coimolache under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 205,893 145,692 Non-current assets 213,073 234,223 Current liabilities (45,589) (34,028) Non-current liabilities (104,873) (91,069) Shareholders' equity, net 268,504 254,818 Adjustments to conform to the accounting policies of the Group (7,037) (9,330) Equity, adjusted 261,467 245,488 Group’s interest 104,833 98,426 2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 203,163 241,173 225,447 Net income from continued operations 22,786 28,459 25,584 Adjustments to conform to the accounting policies 2,293 3,674 1,837 Net income, adjusted 25,079 32,133 27,421 Share in results 10,055 12,883 10,994 The Group's management determined that there was no objective evidence that its investment in Coimolache is impaired as of December 31, 2020 and 2019. (c) Assets acquired and liabilities assumed The fair values of the identifiable assets and liabilities of Tinka as at the date of acquisition were as follows: On acquisition US$(000) Current assets 16,548 Non-current assets 53,769 Current liabilities (612) Total identifiable net assets at fair value 69,705 Consideration transferred 13,453 Investment in Tinka Resources Ltd. (Tinka) - Tinka is a Canadian junior exploration and development mining company with its flagship property being the project of Ayawilca. Ayawilca is carbonate replacement deposit (CRD) in the zinc-lead-silver belt of central Peru, in Cerro de Pasco, 200 kilometers northeast of Lima. Tinka is listed on the Lima and Canada Stocks Exchanges. The table below presents the key financial data from the financial statements of Tinka under IFRS: 2020 US$(000) Statements of financial position as of December 31: Current assets 14,075 Non-current assets 50,464 Current liabilities (876) Shareholders’ equity, net 63,663 Adjustments to conform to the accounting policies of the Group 2,982 Shareholders’ equity, net, adjusted 66,645 Group’s interest 12,862 2020 US$(000) Statements of profit or loss for the years ended December 31: Sales of goods — Net loss from continued operations (2,311) Adjustments to conform to the accounting policies (2,189) Net loss, adjusted (4,500) Share in results (868) The Group’s management determined that there was no objective evidence that its investment in Tinka is impaired as of December 31, 2020 and 2019. Market capitalization: As of December 31, 2020, total market capitalization of shares maintained by the Group was US$11.9 million (market capitalization value by each share of US$0.18). (d) The table below presents the key financial data from the joint venture under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 12,946 11,090 Non-current assets 93,847 100,106 Liabilities 87,005 88,608 Shareholders' equity, reported 19,788 22,588 Group interests 2,254 2,627 Statements of profit or loss for the years ended December 31: Revenue 20,571 24,521 Interest income — 101 Interest expense (5,252) (5,694) Income tax expense or income 311 186 Net loss from continued operations (2,800) (665) Share in results (252) (44)

Mining concessions, development

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	12 Months Ended
	Dec. 31, 2020
Mining concessions, development costs, property, plant and equipment, net
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	11. Mining concessions, development costs, right-of-use asset, property, plant and equipment, net (a) Balance as of Balance as of Balance as of January 1, Reclassifications Implementation December 31, Sales Reclassifications December 31, 2019 Additions Disposals Sales and transfers IFRS 16 2019 Additions Disposals (note 1(e)) and transfers 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost: Lands 21,761 630 — (135) (4,739) — 17,517 133 — — — 17,650 Mining concessions (f) 151,873 - — — — — 151,873 − — — — 151,873 Development costs 743,259 46,047 (443) — (819) — 788,044 33,233 — (8,657) 612 813,232 Buildings, constructions and other 1,342,621 39 (3,559) (5,380) 26,120 — 1,359,841 99 (132) (45,624) 28,876 1,343,060 Machinery and equipment 958,466 12 (30,235) (38,322) 22,783 — 912,704 4 (419) (42,319) 13,222 883,192 Transportation units 10,885 33 (540) (1,856) 370 — 8,892 — — (577) 94 8,409 Furniture and fixtures 13,306 2 (1,310) (1) 13 — 12,010 3 (74) (408) 206 11,737 Units in transit 2,682 - (1) — 1,073 — 3,754 — (373) — — 3,381 Work in progress 56,662 44,319 (1,168) (78) (49,370) — 50,365 27,322 (325) (30) (42,398) 34,934 Stripping activity asset(g) 141,726 11,545 - — 819 — 154,090 10,752 (11,633) — (612) 152,597 Right-of-use asset (e) — 3,721 (10,897) — — 18,528 11,352 6,221 (1,314) — — 16,259 Mine closure costs 284,162 26,722 — — — — 310,884 31,558 — (6,788) — 335,654 3,727,403 133,070 (48,153) (45,772) (3,750) 18,528 3,781,326 109,325 (14,270) (104,403) — 3,771,978 Accumulated depreciation and amortization: Mining concessions (f) 40,249 10 — — — — 40,259 11 — — — 40,270 Development costs 298,553 29,964 — — — — 328,517 21,139 — (8,657) — 340,999 Buildings, construction and other 591,643 83,274 (3,391) (3,569) (638) — 667,319 74,719 (53) (44,096) 435 698,324 Machinery and equipment 665,357 66,020 (28,619) (35,459) 638 — 667,937 60,034 (265) (40,805) (435) 686,466 Transportation units 8,599 744 (538) (1,779) — — 7,026 607 — (550) — 7,083 Furniture and fixtures 10,123 653 (1,172) — — — 9,604 614 (46) (348) — 9,824 Stripping activity asset 70,518 18,405 - — — — 88,923 22,532 — — — 111,455 Right-of-use asset (e) — 7,778 (2,611) — — — 5,167 5,145 (1,231) — — 9,081 Mine closure costs 168,471 15,373 — — — — 183,844 14,785 — (6,789) — 191,840 1,853,513 222,221 (36,331) (40,807) — — 1,998,596 199,586 (1,595) (101,245) — 2,095,342 Provision for impairment of long-lived assets: Mine closure costs 13,207 2,083 — — — — 15,290 (2,083) — — — 13,207 Development costs 10,153 — — — — — 10,153 — — — — 10,153 Property, plant and other 2,915 — — — — — 2,915 — — — — 2,915 26,275 2,083 — — — — 28,358 (2,083) — — — 26,275 Net cost 1,847,615 1,754,372 1,650,361 (b) In accordance with its accounting policies and processes, each asset or CGU is evaluated annually at year-end, to determine whether there are any indications of impairment. If any such indications of impairment exist, a formal estimate of the recoverable amount is performed. In assessing whether impairment is required, the carrying value of the asset or CGU is compared with its recoverable amount. The recoverable amount is the higher of (i) the CGU’s fair value less costs of disposal (FVLCD) and (ii) its value in use (VIU). Given the nature of the Group’s activities, information on the fair value of an asset is usually difficult to obtain unless negotiations with potential purchasers or similar transactions are taking place. Consequently, the recoverable amount for each CGU is estimated based on discounted future estimated cash flows expected to be generated from the continued use of the CGUs using market based commodity price and exchange assumptions, estimated quantities of recoverable minerals, production levels, operating costs and capital requirements, and its eventual disposal, based on the latest life of mine (LOM) plans. These cash flows were discounted using a real post-tax discount rate that reflected current market assessments of the time value of money and the risks specific to the CGU. The estimates of quantities of recoverable minerals, production levels, operating costs and capital requirements are obtained from the planning process, including the LOM plans, one-year budgets and CGU-specific studies. During 2020, Buenaventura identified impairment indicators in its Julcani, Orcopampa, and Uchucchacua. The Group evaluated and concluded that there is no impairment as a result of the analysis of the recoverable amount of said units based on their value in use. The main factors considered in the impairment analysis were reserves, prices and mining useful lives. As a result of the analysis of the recoverable amount as of December 31, 2020, Buenaventura recognized a reversal for impairment of long-lived assets for US$2.1 million derived from the evaluation of its Julcani mining unit ( recognized a provision for impairment for US$2.1 million as of December 31, 2019). The main factors considered in the impairment analysis were the increase in metal price projections and the useful lives of the mine. The recoverable amounts of the Julcani mining unit are based in Managements estimations of the value in use. As a result of the analysis of the recoverable amount as of December 31, 2019, La Zanja has determined not to recognize a provision or recovery for impairment of long-lived assets. As of December 31, 2018, the La Zanja recognized a reversal for impairment of long-lived assets for US$5.7 million. During 2018, as a result of derecognition of assets in Shila mining unit, Buenaventura recorded a reversal in the provision for impairment for US$2.8 million previously recorded in 2016. In addition, La Zanja recorded a reversal for the impairment provision for US$5.7 million as a result of the analysis of the recoverable amount. The main factors considered in the impairment analysis were reserves and mining useful lives. The recoverable amounts of La Zanja are based in Managements estimations of the value in use. Key assumptions The determination of value in use is most sensitive to the following key assumptions: - Production volumes - Commodity prices - Discount rate - Residual value Production volumes: Estimated production volumes are based on detailed life-of-mine plans and take into account development plans for the mines agreed by management as part of planning process. Production volumes are dependent on a number of variables, such as: the recoverable quantities; the production profile; the cost of the development of the infrastructure necessary to extract the reserves; the production costs; the contractual duration of mining rights; and the selling price of the commodities extracted. As each producing mining unit has specific reserve characteristics and economic circumstances, the cash flows of the mines are computed using appropriate individual economic models and key assumptions established by management. The production profiles used were consistent with the reserves and resource volumes approved as part of the Group’s process for the estimation of proved and probable reserves and resource estimates. Commodity prices: Forecast commodity prices are based on management’s estimates and are derived from forward price curves and long-term views of global supply and demand, building on experience of the industry and consistent with external sources. These prices were adjusted to arrive at appropriate consistent price assumptions for the different qualities and type of commodities, or, where appropriate, contracted prices were applied. These prices are reviewed at least annually. Estimates prices for the current and long-term periods that have been used to estimate future cash flows are as follows: 2021 2022-2024 US$ US$ Gold 1,800/Oz 1,747/Oz Silver 23.0/Oz 21.2/Oz Copper 7,250/TM 7,083/TM Lead 1,850/TM 2,056/TM Discount rate: In calculating the value in use, a discount rate after tax of 5.25%, 7.91% and 5.96% (equivalent to pre-tax rate of 8.09%, 12.18% and 9.19%) were applied to the post-tax cash flows of Buenaventura, El Brocal and La Zanja, respectively . These discount rates are derived from the Group’s post-tax weighted average cost of capital (WACC), with appropriate adjustments made to reflect the risks specific to the CGU. The WACC takes into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group’s investors. The cost of debt is based on its interest-bearing borrowings the Group is obliged to service. The Beta factors are evaluated annually based on publicly available market data. (c) (d) (e) 2020 2019 US$(000) US$(000) Buildings 3,370 4,602 Transportation units 3,330 1,112 Machinery and equipment 478 471 7,178 6,185 During 2020, the additions to the right-of-use assets were US$6.2 million and the disposals were US$1.3 million (US$3.7 million and the disposals were US$10.9 million during 2019). (f) (g)
Minera Yanacocha SRL and subsidiary [Member]
Mining concessions, development costs, property, plant and equipment, net
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	10. Property, plant and equipment, net (a) Opening Transfer/Other Final balance Additions Sales and deductions changes balances US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Cost- Land 17,053 — — 269 17,322 Land improvements 28,982 — — — 28,982 Building and constructions 271,554 — — 4,510 276,064 Machinery and equipment 216,872 — (20,844) 14,187 210,215 Leach pads 1,817,226 — — 12,253 1,829,479 Vehicles 9,402 — (98) 951 10,255 Furniture and fixtures 2,556 — — — 2,556 Other equipment 59,262 — — 2,232 61,494 Work in progress 436,699 143,489 — (69,829) 510,359 Mining rights 37,521 — — — 37,521 Right of use asset 1,045 — — — 1,045 Asset retirement and mine closure 693,365 — (4,125) — 689,240 Stripping activity asset 151,494 — — 35,045 186,539 Mine development 824,156 — — — 824,156 4,567,187 143,489 (25,067) (382) 4,685,227 Accumulated depreciation and amortization Land improvements 28,315 80 — — 28,395 Building and constructions 226,129 6,981 — — 233,110 Machinery and equipment 184,030 18,029 (20,385) — 181,674 Leach pads 1,694,288 40,197 — — 1,734,485 Vehicles 8,828 49 (98) — 8,779 Furniture and fixtures 2,560 4 — — 2,564 Other equipment 54,132 2,291 — — 56,423 Mining rights 29,457 — — — 29,457 Right of use asset 461 268 — — 729 Asset retirement and mine closure 478,826 61,882 — — 540,708 Stripping activity asset 147,725 1,769 — — 149,494 Mine development 674,142 5,688 — — 679,830 3,528,893 137,238 (20,483) — 3,645,648 Net cost 1,038,294 1,039,579 Opening Transfer/Other Final balance Additions Sales and deductions changes balances US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Cost- Land 9,459 — — 7,594 17,053 Land improvements 36,454 — (7,472) — 28,982 Building and constructions 298,328 — (26,556) (218) 271,554 Machinery and equipment 244,560 — (46,286) 18,598 216,872 Leach pads 1,723,270 — — 93,956 1,817,226 Vehicles 9,921 — (1,043) 524 9,402 Furniture and fixtures 2,556 — — — 2,556 Other equipment 58,924 — (3,712) 4,050 59,262 Work in progress 444,688 184,403 — (192,392) 436,699 Mining rights 37,521 — — — 37,521 Right of use asset — 1,045 — — 1,045 Asset retirement and mine closure 534,398 158,967 — — 693,365 Stripping activity asset 148,487 — — 3,007 151,494 Mine development 760,647 — — 63,509 824,156 4,309,213 344,415 (85,069) (1,372) 4,567,187 Accumulated depreciation and amortization Land improvements 35,583 101 (7,369) — 28,315 Building and constructions 247,979 5,702 (26,579) (973) 226,129 Machinery and equipment 204,255 21,780 (42,978) 973 184,030 Leach pads 1,656,002 38,286 — — 1,694,288 Vehicles 9,855 16 (1,043) — 8,828 Furniture and fixtures 2,556 — — — 2,556 Other equipment 56,522 1,326 (3,712) — 54,136 Mining rights 29,457 — — — 29,457 Right of use asset — 461 — — 461 Asset retirement and mine closure 424,008 54,818 — — 478,826 Stripping activity asset 146,058 1,667 — — 147,725 Mine development 656,484 17,658 — — 674,142 3,468,759 141,815 (81,681) — 3,528,893 Net cost 840,454 1,038,294 Additions to work in progress is primarily related to development of the Sulfides Project in 2020 and development of the Quecher Main project in 2019. As of December 31, 2020, the Company does not have material commitments related to these projects. The depreciation and amortization expense for the year ended December 31, 2020 and 2019 was recorded in the “Cost applicable to sales” caption in the consolidated statement of comprehensive income. (b) In accordance with the accounting policies and processes, each asset or Cash Generating Unit “CGU” is evaluated annually at year end, to determine whether there are any indications of impairment. If any such indications of impairment exist, a formal estimate of the recoverable amount is performed. The Company has two CGU’s: Yanacocha mine and Conga project. In December 2018, the Company performed a formal evaluation of its cash generating units and concluded that there were no impairment indicators to such date. During 2019, the Company’s Management identified as an impairment indicator the significant increase of the asset retirement and mine closure, as a result the Company determined the recoverable amount for its CGU Yanacocha. Regarding to CGU Conga the Management did not identify any important indicator. As a result of this analysis, the Company concluded that no additional impairment loss on CGU Yanacocha was required to be recorded as the recoverable amount exceeded the carrying amount of the CGU’s assets. In December 2020, the Company performed a formal evaluation of its cash generating units and concluded that there are indicators of reversal of impairment of its Yanacocha CGU and impairment indicators in its Conga CGU, therefore it determined the recoverable value of both CGUs. As a result of this analysis the Company concluded that no reversals of impairment loss on either of its’ CGU as the recoverable amount was slightly higher to the carrying amount of the CGU’s assets; however, due to de sensitive of the cash flows to the discount rate, long term prices and the term of the cash flows, the Management has concluded that there is not appropriate recognized a reversal for the CGUs. In assessing whether impairment or reversal of impairment was required, the carrying value of the asset or CGU was compared with its recoverable amount. The recoverable amount is the higher of (i) the CGU’s fair value less costs of disposal (FVLCD) and (ii) value in use (VIU). Given the nature of the Company’s activities, information on the fair value of an asset is usually difficult to obtain unless negotiations with potential purchasers or similar transactions are taking place. Consequently, the recoverable amount for each CGU was estimated based on estimated discounted future estimated cash flows expected to be generated from the continued use of the CGUs using market based commodity price and exchange assumptions, estimated quantities of recoverable minerals, production levels, operating costs and capital requirements, and its eventual disposal, based on the latest life of mine (LOM) plans. These cash flows were discounted using a real pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the CGU. Estimates included quantities of recoverable minerals, production levels, operating costs and capital requirements and sourced from the planning process, including the life of mine (LOM) plans, business plan and CGU-specific studies. Key assumptions used for the impairment testing as of December 31, 2020 : The determination of value in use was most sensitive to the following key assumptions: - Production volumes. - Commodity prices. - Discount rate. - Cost/operating income Production volumes: Estimated production volumes are based on detailed life-of-mine plans and take into account development plans for the mines agreed by management as part of planning process. Production volumes are dependent on a number of variables, such as: the recoverable quantities; the production profile; the cost of the development of the infrastructure necessary to extract the reserves; the production costs; the contractual duration of mining rights; and the selling price of the commodities extracted. As each producing mining unit has specific reserve characteristics and economic circumstances, the cash flows of the mines were computed using appropriate individual economic models and key assumptions established by management. The production profiles used were consistent with the reserves and resource volumes approved as part of the Company’s process for the estimation of proved and probable reserves and resource estimates. Commodity prices: Forecasted commodity prices were based on management’s estimates and were derived from forward price curves and long-term views of global supply and demand, building on past experience of the industry and consistent with external sources. These prices were adjusted to arrive at appropriate consistent price assumptions for the different qualities and type of commodities, or, where appropriate, contracted prices were applied. Estimated prices for the current and long-term periods that have were used to estimate future revenues were as follows: Current Long-term US$ US$ Gold (per ounce) 1,876 1,500 Copper (per pound) 3.1 3.0 Discount rate: In calculating the value in use, a pre-tax discount rate in a range of 8.9% to 9.4% was applied to the Yanacocha pre-tax cash flows, as for the Conga pre-tax cash flows a discount rate in a range of 9.38% to 10.36%. This discount rate was derived from the Company’s pre-tax weighted average cost of capital (WACC), with appropriate adjustments made to reflect the risks specific to the CGU. Cost/operating income For Yanacocha’s CGU, costs are determined based on the Company's cost structure and the mining plan for the following years and based on the approved prefeasibility model of Sulfides project. For Conga the cost are determined according to the prefeasibility model. Sensitive Analysis When determining the value-in-use of the CGUs’ Yanacocha and Conga, management estimated a pre-tax discount rate between 8.9%-9.4%, and 9.4%-10.4%, respectively. WACC is a key assumption in the determination of the recoverable amounts, and changes in WACC would impact the recoverable amounts as follows: Yanacocha (in millions of US Dollars) WACC 8.9 % 9.4 % -0.5 % 125 54.5 +0.5 % (14) (77) Conga (in millions of US Dollars) WACC 9.4 % 10.4 % -0.5 % 132 (30) +0.5 % (33) (158)
Sociedad Minera Cerro Verde S.A.A. [Member]
Mining concessions, development costs, property, plant and equipment, net
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	7. Property, plant and equipment, net Property, plant and equipment consist of owned and leased assets (right-of-use assets), and cost and accumulated depreciation accounts as of December 31, 2020 and 2019 are shown below: December 31, December 31, December 31, 2018 IFRS 16 adoption Additions Adjustments Disposals Transfers 2019 Additions Adjustments Disposals Transfers 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost Land 24,663 — — — (80) 322 24,905 — — — — 24,905 Buildings and other constructions 2,449,577 — — 544 (4,769) 102,772 2,548,124 — (1) (14) 40,895 2,589,004 Machinery and equipment 4,694,050 — — (544) (30,482) 191,589 4,854,613 — 1 (12,814) 143,949 4,985,749 Transportation units 23,251 — — — (32) 3,146 26,365 — — — 3,733 30,098 Furniture and fixtures 949 — — — — — 949 — — — — 949 Other equipment 25,491 — — — (594) 203 25,100 — — — 5,865 30,965 Construction in progress and in-transit units 185,928 — 271,364 (a) (1,192) — (298,032) 158,068 161,059 (a) (6,255) — (194,442) 118,430 Stripping activity asset (see Note 2(i)) 655,709 — 197,038 — — — 852,747 92,890 — — — 945,637 Asset retirement costs (see Note 11(b)) 107,034 — 59,964 — — — 166,998 37,569 — — — 204,567 Right-of-use assets (b) — 95,728 1,342 (700) (929) — 95,441 3,328 — (2,318) — 96,451 8,166,652 95,728 529,708 (1,892) (36,886) — 8,753,310 294,846 (6,255) (15,146) — 9,026,755 Accumulated depreciation Buildings and other constructions 321,920 — 76,199 513 (4,722) — 393,910 62,317 — (14) — 456,213 Machinery and equipment 1,786,326 — 284,097 (513) (29,091) — 2,040,819 277,384 — (12,635) — 2,305,568 Transportation units 13,972 — 1,928 — (28) — 15,872 1,826 — — — 17,698 Furniture and fixtures 858 — 23 — — — 881 23 — — — 904 Other equipment 18,796 — 1,543 — (594) — 19,745 1,495 — — — 21,240 Stripping activity asset 398,202 — 155,530 — — — 553,732 124,309 — — — 678,041 Asset retirement costs 23,676 — 3,239 — — — 26,915 4,611 — — — 31,526 Right-of-use assets (b) — — 11,488 — (903) — 10,585 11,320 — (2,316) — 19,589 2,563,750 — 534,047 — (35,338) — 3,062,459 483,285 — (14,965) — 3,530,779 Net cost 5,602,902 5,690,851 5,495,976 (a) For the year ended December 31, 2019, additions to construction in progress primarily relates to (i) the mine maintenance truck shop (US$78.2 million), (ii) the purchase of used haul trucks from PT Freeport Indonesia (a related party) (US$47.1 million), (iii) the purchase of stators for ball mills (US$18.3 million), (iv) the tailing drain expansion (US$15.2 million), (v) a concentrator optimization project (US$12.3 million), (vi) the regrowth of a leach pad (US$10.9 million) and (vii) the staged flotation reactor engineering project (US$6.2 million). As of December 31, 2020, additions to construction in progress include capitalized interest primarily related to projects for the mine maintenance truck shop (US$1.4 million), tailing dam drain expansion and jacking header extension (US$0.4 million), the purchase of stators for ball mills (US$0.2 million) and other projects (US$0.5 million). (b) January 1, December December 2019 Additions Adjustments Disposals 31, 2019 Additions Disposals 31, 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost Land 11,008 — (700) (457) 9,851 — — 9,851 Buildings and other constructions 55,114 1,192 — (370) 55,936 2,880 (2,222) 56,594 Machinery and equipment 29,606 150 — (102) 29,654 448 (96) 30,006 95,728 1,342 (700) (929) 95,441 3,328 (2,318) 96,451 Accumulated depreciation Land — 1,712 — (457) 1,255 1,642 — 2,897 Buildings and other constructions — 6,613 — (344) 6,269 6,526 (2,220) 10,575 Machinery and equipment — 3,163 — (102) 3,061 3,152 (96) 6,117 — 11,488 — (903) 10,585 11,320 (2,316) 19,589 Net cost 95,728 84,856 76,862

Other assets, net

Other assets, net	12 Months Ended
	Dec. 31, 2020
Other assets, net
Other assets, net	12. Other assets, net (a) Balance as of Balance as of Balance as of January 1, December 31, December 31, 2019 Additions Transfers 2019 Additions Disposals 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost: Patents and industrial property (b) 11,723 2,139 — 13,862 1,014 (167) 14,709 Rights-of-use (c) 12,292 1,319 — 13,611 109 — 13,720 Software licenses 10,168 242 (92) 10,318 518 (22) 10,814 34,183 3,700 (92) 37,791 1,641 (189) 39,243 Accumulated amortization: Rights-of-use (c) 5,948 1,486 — 7,434 731 — 8,165 Software licenses 2,974 820 (112) 3,682 897 (4) 4,575 8,922 2,306 (112) 11,116 1,628 (4) 12,740 Cost net 25,261 26,675 26,503 (b) (c)

Bank loans

Bank loans	12 Months Ended
	Dec. 31, 2020
Bank loans
Bank loans	13. Bank loans The movement is presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 55,000 95,000 95,000 New loans 18,019 55,000 95,000 Payments (7,197) (95,000) (95,000) Exchange difference (29) — — Final balance 65,793 55,000 95,000 As of December 31, 2020 and 2019, bank loans were obtained for working capital purposes, have current maturity and accrue interest at market annual rates ranging from 1.65% to 3.7% as of December 31, 2020 (2% to 2.95% as of December 31, 2019).

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2020
Trade and other payables
Trade and other payables	14. Trade and other payables (a) 2020 2019 US$(000) US$(000) Trade payables (b) Domestic suppliers 149,305 131,278 Related entities, note 30(b) 141 29 149,446 131,307 Other payables Taxes payable 9,663 12,043 Remuneration and similar benefits payable 8,860 11,522 Interest payable 3,020 5,318 Royalties payable to the Peruvian State 2,441 2,132 Hedge instruments accounts payables 1,569 — Dividends payable (c) 638 604 Related entities, note 30(b) 328 51 Other liabilities 3,991 3,883 30,510 35,553 Total trade and other payables 179,956 166,860 Classification by maturity: Current portion 179,956 166,244 Non-current portion — 616 Total trade and other payables 179,956 166,860 Classification by nature: Financial payables 167,852 152,686 Non-financial payables 12,104 14,174 Total trade and other payables 179,956 166,860 (b) (c) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 604 663 730 Declared dividends to controlling shareholders, note 17(d) — 22,098 22,860 Dividends paid to controlling shareholders, note 17(d) — (22,098) (22,860) Declared dividends to non-controlling shareholders, note 17(d) 5,140 6,500 5,560 Dividends paid to non-controlling shareholders, note 17(d) (5,140) (6,500) (5,560) Expired dividends (26) (53) (44) Other minor 60 (6) (23) Final balance 638 604 663
Minera Yanacocha SRL and subsidiary [Member]
Trade and other payables
Trade and other payables	11. Trade and other payables (a) 2020 2019 US$(000) US$(000) Trade payables (b) Domestic suppliers 44,977 45,671 Related entities, note 24(c) 12,374 11,426 57,351 57,097 Other payables Remuneration and similar benefits payable 4,649 7,818 Other taxes payable 4,097 5,195 Royalties payable to the Peruvian State 2,548 2,696 11,294 15,709 68,645 72,806 (b)
Sociedad Minera Cerro Verde S.A.A. [Member]
Trade and other payables
Trade and other payables	8. Trade accounts payable Trade accounts payable are primarily originated by the acquisition of materials, supplies, services and spare parts. These obligations are primarily denominated in US dollars, have current maturities and do not accrue interest. No guarantees have been granted. As of December 31, 2020, trade accounts payable includes US$12.4 million related to capital projects (US$30.3 million as of December 31, 2019).

Other accounts payable

Other accounts payable	12 Months Ended
	Dec. 31, 2020
Sociedads Minera Cerro Verde Saa [Member]
Disclosure of associates [line items]
Other accounts payable	9. Other accounts payable This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Royalties and mining taxes in dispute (a) 87,499 95,120 Income tax assessment (b) 34,716 — Other 4,250 4,260 Total current 126,465 99,380 Non-current Royalties and mining taxes in dispute (a) 248,537 362,464 Excess of salaries limit of workers profit sharing (c) 36,855 17,260 Total non-current 285,392 379,724 (a) The balance as of December 31, 2020, corresponds to the remaining balance from the monthly payments of the installment programs for disputed mining royalties for the period January 2009 through September 2011 and for the years 2012 and 2013 and special mining tax for the period October 2011 through December 2013, totaling US$336.0 million (US$457.6 million as of December 31, 2019), including interest and penalties of US$186.5 million (US$256.1 million as of December 31, 2019) (see Note 13(d)). (b) Corresponds to interest and penalties related to income tax assessments for the year 2013, which will be paid in the first quarter of 2021. (c) As of December 31, 2020, represents the excess salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO). This is related to adjustments of previous years income tax assessments (recognized in 2020 mainly as a result of the international arbitration proceeding initiated by the Company (see Note 13(d)).This amount includes interest of US$16.6 million.

Other Financial Liabilities (de

Other Financial Liabilities (debt)	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities (debt)	10. Other financial liabilities (debt) This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current debt: Lease liabilities (a) 10,223 8,855 Non-current debt: Senior unsecured credit facility (b) 525,000 830,000 Lease liabilities (a) 68,994 76,944 Less : Debt issuance cost (1,549) (4,124) Total non-current debt 592,445 902,820 Total other financial liabilities 602,668 911,675 (a) The lease liability consists of leased land, buildings and other constructions, and machinery and equipment which are used in mine operations. 2020 2019 US$(000) US$(000) Balance at beginning of the year 85,799 95,728 Additions 3,328 550 Accrued interest 4,875 5,242 Payments (9,376) (10,479) Interest payments (4,875) (5,242) Exchange rate effect (534) — Total lease liabilities 79,217 85,799 The following are the amounts recognized in profit or loss: 2020 2019 US$(000) US$(000) Depreciation charge of right-of-use assets (see Note 15) 11,320 11,488 Expenses related to variable lease payments, low-value and short-term leases (see Note 15) 7,399 7,069 Interest expense on lease liabilities (see Note 18) 4,875 5,242 23,594 23,799 The Company has certain lease contracts for machinery and equipment used in mine operations that contain variable payments based on the number of hours that machinery or equipment is used in operations. (b) In March 2014, the Company entered into a five-year, US$1.8 billion senior unsecured credit facility with several banks led by Citibank N.A. as the administrative agent. The disbursements were mainly used to finance a portion of the Company’s expansion project. In June 2017, the Company entered into an amendment to the senior unsecured credit facility, which extends the maturity and increased the outstanding amount by US$225 million. After the amendment, the balance of the total credit facility was US$1.5 billion. As of December 31, 2020, the Company had repaid US$975 million after the additional repayment of US$305 million in December 2020. For the year ended December 31, 2020, the Company recognized in the statements of comprehensive income, interest expense in the amount of US$22.4 million (US$39.1 million for the year ended December 31, 2019 and US$49.6 million for the year ended December 31, 2018) (see Note 18). The credit facility calls for amortization in four installments, with 15% of the total facility due on December 31, 2020 (fully repaid as of December 31, 2020), 15% due on June 30, 2021 (fully repaid as of December 31, 2020), 35% due on December 31, 2021 (fully repaid as of December 31, 2020) and 35% due on June 19, 2022 (US$525 million). Interest on the credit facility is based on the London Interbank Offered Rate (LIBOR) plus a spread (currently 1.9%) based on the Company´s total net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio, as defined in the agreement. For the year ended December 31, 2020, the Company recognized charges of US$0.9 million in the statements of comprehensive income for issuance costs related to debt extinguishment caused by the early December 2020 payment (US$1.3 million for the year ended December 31, 2019 and US$1.9 million for the year ended December 31, 2018) (see Note 18). No letters of credit were issued and there are no guarantees provided for the credit facility as of December 31, 2020. Restrictive Covenants - The senior unsecured credit facility contains certain financial ratios that the Company must comply with on a quarterly basis, including a total net debt to EBITDA ratio and an interest coverage ratio, which are defined by the agreement. As of December 31, 2020, the Company was in compliance with all of its covenants. Following is the movement of the changes derived from the financing activities for the year ended December 31, 2020 and 2019: Long term Long term January 01, to short term December 31, to short term December 31, 2019 Additions Payments transfers Others 2019 Additions Payments transfers Others 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Current: Lease liabilities, see Note 10 (a) 8,119 464 (10,479) 10,751 — 8,855 1,477 (9,376) 9,402 (135) 10,223 Non-current: Senior unsecured credit facility 1,030,000 — (200,000) — — 830,000 — (305,000) — — 525,000 Debt issuance cost (a) (7,190) — — — 3,066 (4,124) — — — 2,575 (1,549) Lease liabilities, see Note 10 (a) 87,609 86 — (10,751) — 76,944 1,851 — (9,402) (399) 68,994 Total liabilities from financing activities 1,118,538 550 (210,479) — 3,066 911,675 3,328 (314,376) — 2,041 602,668 (a)

Provisions, contingent liabilit

Provisions, contingent liabilities and other liabilities	12 Months Ended
	Dec. 31, 2020
Provisions and contingent liabilities
Provisions, contingent liabilities and other liabilities	15. Provisions, contingent liabilities and other liabilities (a) As of As of January 1, Accretion Sale of December 31, 2020 Changes expense Disbursements mining unit 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Closure of mining units and exploration projects (b) 252,305 32,200 6,848 (8,571) (5,093) 277,689 Bonus to employees and officers 19,226 13,106 — (15,119) — 17,213 Environmental liabilities 6,305 (211) — (1,056) — 5,038 Safety contingencies 5,205 (598) — (71) — 4,536 Labor contingencies 3,777 442 — (139) — 4,080 Obligations with communities 3,509 96 — — — 3,605 Tax contingencies 382 2,728 — — — 3,110 Environmental contingencies 1,500 1,640 — (266) — 2,874 Board of Directors' participation 1,594 1,493 — (1,500) — 1,587 Workers’ profit sharing payable 69 57 — — — 126 Other provisions 635 (155) — — — 480 294,507 50,798 6,848 (26,722) (5,093) 320,338 Classification by maturity: Current portion 72,771 68,000 Non-current portion 221,736 252,338 294,507 320,338 (b) The table below presents the movement of the provision for closure of mining units and exploration projects: 2020 2019 US$(000) US$(000) Beginning balance 252,305 225,877 Additions in estimates Continuing mining units, note 11(a) 31,500 26,722 Exploration projects, note 26(a) 642 4,020 Discontinued mining units 58 1,912 Accretion expense Continuing mining units, note 27(a) 6,424 10,266 Exploration projects, note 27(a) 248 124 Discontinued mining units, note 1(e) 176 266 Sale of mining unit, note 1(e) (5,093) — Disbursements (8,571) (16,882) Final balance 277,689 252,305 Classification by maturity: Current portion 32,462 35,280 Non-current portion 245,227 217,025 277,689 252,305 The provision for closure of mining units and exploration projects represents the present value of the closure costs that are expected to be incurred between the years 2021 and 2040. The Group recognizes the provision of closure of mining units and explorations projects based on estimates of studies and activities that meet the environmental regulations in effect and that will be approved by the Ministry of Energy and Mines. The Group recognizes the provision of continued operations based on its analysis and estimates prepared by independent advisors and reviewed by the Group´s Management. Provisions related to discontinued operations are based on estimates prepared by internal advisors. The provision for closure of mining units and exploration projects corresponds mostly to activities that must be carried out for restoring the mining units and areas affected by operation and production activities. The principal works to be performed correspond to earthworks, re-vegetation efforts and dismantling of the plants. Closure budgets are reviewed regularly to take into account any significant change in the studies conducted. Nevertheless, the closure costs of mining units will depend on the market prices for the closure works required, which would reflect future economic conditions. Also, the time when the disbursements will be made depends on the useful life of the mine, which will be based on future metals prices. As of December 31, 2020, the future value of the provision for closure of mining units and exploration projects was US$309.3 million, which has been discounted using annual risk-free rates from minimums of 0.31 to 2.77 percent, in periods of 1 to 20 years (as of December 31, 2019, the provision was US$252.3 million, which has been discounted using annual risk-free rates from minimums of 1.79 to 3.12 to a maximum percent in periods of 1 to 22 years). The Group believes that this liability is sufficient to meet the current environmental protection laws approved by the Ministry of Energy and Mines. As of December 31, 2020, the Group has constituted letters of credit in favor of the Ministry of Energy and Mines for US$140.0 million (US$121.4 million as of December 31, 2019) to secure current mine closure plans of its mining units and exploration projects up to date.
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Provisions, contingent liabilities and other liabilities	12. Provisions (a) 2020 2019 US$(000) US$(000) Provisions Provision for mine closure and exploration projects (b) 1,738,428 1,608,380 Provision of social responsibility (c) 16,609 18,326 Other provisions 7,352 6,162 1,762,389 1,632,868 Classification by maturity: Current portion 101,786 45,317 Non-current portion 1,660,603 1,587,551 1,762,389 1,632,868 (b) The Company’s mining and exploration activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations so as to protect the public health and environment and believes its operations are in compliance with all applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the amount of such future expenditures. Estimated future reclamation costs are based principally on legal and regulatory requirements. The provision for mine closure comprises activities to be carried out by the Company in the restoration of mines and adjacent areas in the completion stage of the gold extraction process. Such activities include the restoration of mining locations, water treatment plant operations, as well as reforestation and land treatments. The movement of the provision for mine closure for 2020, 2019 and 2018 is broken down as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 1,608,380 1,294,464 1,234,731 Additional provisions 120,655 301,096 43,560 Payments (22,656) (23,889) (19,842) Unwinding of discount, note 22 32,049 36,709 36,015 Ending balance 1,738,428 1,608,380 1,294,464 Classification by maturity Current portion 92,706 39,156 19,325 Non-current portion 1,645,722 1,569,224 1,275,139 1,738,428 1,608,380 1,294,464 The provision for mine closure and exploration projects represents the present value of the closure costs that are expected to be incurred between the years 2020 and 2070. There were minimal changes to the updated closure plan in 2017 prior to submitting to Peruvian regulators in September 2017. The regulators completed their review and approved the updated closure plan in November 2017. During the years ended December 31, 2020, 2019 and 2018, the Company recorded an increase to the reclamation liability of US$121 million, US$301 million and US$44 million, respectively. The update to the reclamation obligation resulted in an decrease to the recorded asset retirement cost asset of (US$4) million (US$159 million and US$27.2 million in 2019 and 2018, respectively) related to the producing portions of the mine (see note 10) and a non-cash charge to reclamation expense for the year ended December 31, 2020 of US$124 million (US$142 million and US$16.3 million as December 31, 2019 and 2018, respectively) related to the areas of Carachugo, Yanacocha, Maqui Maqui and Cerro Negro operations no longer in production (see note 18). The increase of the 2020 reclamation obligation is mainly due to higher water treatment costs, whereas in 2019 the increase was mainly due to new disturbance costs from the Quecher Main project and changes in the labor cost estimate. The discount rates used in the calculation of the provision as December 31, 2020, 2019 and 2018 were between 0.4% and 6.0%. (c) The provision of social responsibility relates to community commitments to develop projects near the mine site, including training and support for other activities such as building infrastructure and donations. The movement of the provision for social responsibility for 2020, 2019 and 2018 is broken down as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 18,326 18,010 21,689 Additional provisions — 888 — Payments (6) (572) (3,679) Corrections (1,711) — — Ending balance 16,609 18,326 18,010 Classification by maturity Current portion 1,728 761 8,351 Non-current portion 14,881 17,565 9,659 16,609 18,326 18,010
Sociedad Minera Cerro Verde S.A.A. [Member]
Provisions and contingent liabilities
Provisions, contingent liabilities and other liabilities	11. Provisions This item is made up as follows: December 31, December 31, 2020 2019 US$(000) US$(000) Current: Provision for social commitments (a) 9,469 7,677 Provision for remediation and mine closure (b) 156 241 Total current 9,625 7,918 Non–current: Provision for remediation and mine closure (b) 237,387 195,659 Provision for disputed mining royalties (c) 44,982 62,797 Other long-term liabilities (d) 22,455 12,117 Provision for legal contingencies (e) 1,924 4,800 Provision for social commitments (a) 1,226 3,046 Total non-current 307,974 278,419 (a) The provision for social commitments is associated with repaving Alata-Congata Road (US$6.3 million) and an irrigation project in La Joya (US$4.4 million). (b) The Company’s mineral exploitation activities are subject to environmental protection standards. In order to comply with these standards, the Company has obtained the approval for the Environment Adequacy Program (PAMA) and for the Environmental Impact Studies (EIA), required for the operation of Cerro Verde’s production unit. On October 14, 2003, Law 28090 was enacted, which regulates the commitments and procedures that entities involved in mining activities must follow in order to prepare, file and implement a mine site closure plan, as well as the respective environmental guarantees that assure compliance with the plan in accordance with protection, conservation and restoration of the environment. On August 15, 2005, the regulations regarding this law were approved. During 2006, in compliance with the mentioned law, the Company completed the closure plans for its mine site, and presented it to the Ministry of Energy and Mines. The closure plans for its mine site was approved by Resolution No 302‑2009 MEM-AAM and its modifications were approved by Resolution No 207‑2012 MEM-AAM, Resolution No 186‑2014 MEM-DGAAM and its last modification, Resolution No 032‑2018 MEM-DGAAM. As of December 31, 2020, pursuant to legal requirements, the Company has issued a letter of credit to the Ministry of Energy and Mines totaling US$59.4 million to secure mine closure plans. The estimate of remediation and mine closure costs is based on studies prepared by independent consultants and based on current environmental regulations. This provision corresponds mainly to the activities to be performed in order to restore the areas affected by mining activities. The main tasks to be performed include ground removal, soil recovery, and dismantling of plant and equipment. The table below presents the changes in the provision for remediation and mine closure: 2020 2019 US$(000) US$(000) Beginning balance 195,900 131,888 Accretion expense 4,196 4,048 Additions (see Note 7) 37,569 59,964 Progressive mine closure payments in hydrometallurgy process (122) — Final balance 237,543 195,900 As of December 31, 2020, the Company’s provision for remediation and mine closure was US$237.5 million (reflecting the future value of the provision for remediation and mine closure of US$374.4 million, discounted using an annual risk-free rate of 1.56%). As of December 31, 2019, the Company’s provision for remediation and mine closure was US$195.9 million (reflecting the future value of the provision for remediation and mine closure of US$374.4 million, discounted using an annual risk-free rate of 2.28%). The Company considers this liability sufficient to meet the current environmental protection laws approved by the Ministry of Energy and Mines. As of December 31, 2020 and 2019, additions (US$37.6 million and US$60.0 million respectively) mainly corresponded to changes in estimates due to changes in the escalation ratio. (c) As of December 31, 2020, represents interest and penalties associated with income tax related to disputed mining royalties for the year 2010 of US$45.0 million. As of December 31, 2019, represents the non-current portion of ITAN for the years 2010 and 2011 of US$12.1 million and interest and penalties associated with (i) income tax related to disputed mining royalties for the year 2010 of US$42.1 million, (ii) ITAN for the years 2010 and 2011 of US$6.7 million and (iii) SRF for the year 2013 of US$1.9 million. (d) As of December 31, 2019, mainly represents interest and penalties related to tailing dam income tax for the year 2010 and 2012 of US$4.3 million. This balance also includes SUNAT assessments for prior years related to income and non-income tax contingencies in which the Company expects to obtain an unfavorable result of US$3.8 million. (e)

Debt instruments

Debt instruments	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Debt instruments	14. Debt instruments On June 14, 2018, the Company approved the sale of 63,922,565 shares of Minera Yanacocha, S.R.L. to Summit Global Management II BV, a wholly-owned subsidiary of Sumitomo Corporation (Sumitomo) for a consideration of US$47,911. The transaction resulted in Sumitomo owning 5% of Minera Yanacocha, S.R.L. with Newmont Second Capital Corporation and Buenaventura’s ownership percentages decreasing to 51.35% and 43.65%, respectively. Under the terms of the transaction, Sumitomo has the option to require the Company to repurchase the 5% interest in Minera Yanacocha, S.R.L. if the Yanacocha Sulfides project does not adequately progress by June 2022 or if the project is approved with an incremental rate of return below a contractually agreed upon rate. Under the terms of the sales agreement, the cash paid by Sumitomo at closing has been placed in an escrow for repayment in the event the option is exercised. As of December 31, 2020 and December 31, 2019, the Company holds US$48,752 and US$48,617, respectively in an escrow account with Citibank New York and generates interest at a market rate. This balance is included in the caption Restricted Cash in the consolidated statement of financial position. The restricted cash is not available to finance the Company's day-to-day operations and, therefore, has been excluded from cash and cash equivalents for the purposes of the consolidated statement of cash flows. It has been disclosed as a non-current asset. The shares held by Sumitomo meet the definition of a compound instrument and is classified as a liability (with a portion recorded to equity) in the consolidated financial statements of the Company. The difference between the present value of the compound instrument at the date of the transaction for an amount of US$41,695 and the gross redemption amount of US$47,911 was recorded as additional paid-in-capital in equity for an amount of US$6,216 at the date of the transaction. The value of the compound instrument as of December 31, 2020 and December 31, 2019 amounts to US$45,423 and US$43,927, respectively. For the years ended December 31, 2020, 2019 and 2018 the unwinding of the discount was recognized in the caption “Finance costs” in the consolidated statement of comprehensive income for an amount of US$1,497, US$1,497 and US$1,497, respectively, see note 22.

Financial obligations

Financial obligations	12 Months Ended
	Dec. 31, 2020
Financial obligations
Financial obligations	16. Financial obligations (a) 2020 2019 US$(000) US$(000) Compañía de Minas Buenaventura S.A.A. (b) Banco de Crédito del Perú 66,667 61,667 BBVA Banco Continental 61,667 61,667 CorpBanca New York Branch 61,666 61,666 ICBC Perú Bank 40,000 25,000 Banco Internacional del Perú 30,000 30,000 Banco de Sabadell, Miami Branch 15,000 15,000 Banco Latinoamericano de Comercio Exterior S.A. — 20,000 275,000 275,000 Debt issuance costs (2,715) (2,504) 272,285 272,496 Sociedad Minera El Brocal S.A.A. Banco de Crédito del Perú – Financial obligation (c) 140,309 161,894 Debt issuance costs (600) (709) 139,709 161,185 Empresa de Generación Huanza S.A. Banco de Crédito del Perú – Finance lease (d) 113,096 130,504 Debt issuance costs (1,276) — 111,820 130,504 Lease liabilities (g) 7,839 7,503 Total financial obligations 531,653 571,688 Classification by maturity: Current portion 25,086 265,692 Non-current portion (e) 506,567 305,996 Total financial obligations 531,653 571,688 (b) - Principal: US$275,000,000. - Annual interest rate: Three-month LIBOR plus 3%. - Term: 5 years since June 30, 2016, with final maturity in June 30, 2021. - Grace Period: Two years. - Amortization: six semiannual installments of US$39,285,714 starting July 2018 and a final payment of US$39,285,716 in June 2021. - Guarantee: None. The subsidiaries Compañía Minera Condesa S.A., Inversiones Colquijirca S.A. and Consorcio Energético de Huancavelica S.A. are the guarantors. In 2018, Buenaventura signed a first amendment to the Syndicated Term Loan. On April 2, 2020, Buenaventura entered into a second amendment and restructured its financial obligation by modifying some of the clauses as follows: - Annual interest rate: LIBOR of three months plus 1.9% (LIBOR of three months plus 2.15% as of December 31, 2019) - Term: 5 years from April 2020, due in April 2025 (4 years from April 2018, due in April 2022 as of December 31, 2019) - Amortization of credit: five semi-annual installments of US$41.2 million each since as of October 2022, and one final payment of US$68,750,000 in April 2025 (on which date all amounts outstanding shall be payable) (five semi-annual installments of US$55 million each since as of April 2020 as of December 31, 2019). As part of the commitments, the Group must meet certain consolidated financial ratios as defined in the Agreements, being the main as follows: (i) (ii) (iii) For the calculation of (i) and (ii), the financial obligations and Earnings Before - Interest Depreciation and Amortization (EBITDA) of Huanza (see note 29(e)). Additionally, there are non-financial obligations that restrict, among others, the following: i) granting of liens (security interests), ii) related to the distribution of dividends (until December 31, 2018: up to 20% of the available net income for the previous period; and starting January 1, 2019: up to the total of net income for the previous period), according to the execution of the dividend policy of the Buenaventura and iii) incur additional debt. On December 29, 2020, Buenaventura signed a “Forebearance Agreement” with seven banks in Peru and abroad, through which the financial leverage ratio as well as the obligations of not incurring in additional debt and restriction of the granting of liens are temporarily modified until February 26, 2021 with an additional period of 45 days. On April 28, 2021, Buenaventura entered into an amendment and waiver to the Syndicated Term Loan which superseded the Forbearance Agreement, pursuant to which the lenders under the Syndicated Term Loan agreed to amend certain terms of the Syndicated Term Loan. Through this amendment and waiver the covenants that were temporarily modified by the Forebearance Agreement were permanently amended and any compliance issues related to such covenants permanently waived. (c) - - - - - - According to the lease contract mentioned above, El Brocal is required to maintain the following financial ratios as defined in the Agreeement: (i) Debt service coverage ratio: Higher than 1.3. (ii) Leverage Ratio: Less than 1.0 times. (iii) Indebtedness ratio: Less than 2.25 times. In April and July 2020, El Brocal arranged with the Banco de Crédito del Perú to defer the payment of the second and third installment, scheduled for April 30, and July 30, 2020 for an amount of US$5,396,000 each installment (only capital) through 2 new promissory notes to a 180 days. The initial due dates of these promissory notes were October 27, 2020 and January 26, 2021. On October 27, 2020, El Brocal rescheduled the first promissory notes for 180 additional days with a new due date on April 24, 2021. The sum of both amounts for a total of US$10,793,000, are presented under “Bank loans” caption. This deferring of the second and third installment does not represent changes in terms and conditions of the original loan. The compliance with the financial ratios is monitored by El Brocal’ s management, which it managed and obtained from Banco de Crédito del Perú a waiver for any possible breach of the financial ratios that occurred for the last quarter of 2020. (d) - - - - - On June 30, 2014, Banco de Credito del Perú extended the finance lease contract above mentioned, through the addition of a new tranche. On October 29, 2020, as part of the Group its strategy of preserving cash, Huanza negotiated a reduction of the fixed rate of interest and agreed a modification of the following terms and conditions: - - - - - In addition, Huanza have granted a security interest for 100 percent of shares. According to the lease contract mentioned above, Huanza is required to maintain the following financial ratios: - - Management performed an analysis to determine if the modification of the terms and conditions on October 2020 were substantially different terms and shall be accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The Group concluded that the terms are not substantially different, due to the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate were less than 10 per cent different compared to the discounted present value of the remaining cash flows of the original financial liability. On December 2, 2009, Huanza signed a “Guarantee Trust Agreement” (hereinafter “the contract”), related to the financial lease agreement described above. In said contract, Huanza and Buenaventura are the trustors, the Bank is the trustee and La Fiduciaria S.A. is the fiduciary. The objective of the contract is the constitution of a trust equity with irrevocable character, which serves entirely as a guarantee of the total payment of the guaranteed obligations, which are based on the agreements, renewals, extensions or modifications established in the financial lease documents. Under this contract, Huanza promised to grant the following: - Trust of flows with respect to all the income of the hydroelectric power station of Huanza, including the income from sales of power and energy, through which Huanza is obliged to receive all the cash flows of commercial income through a collection account, as well as carry out certain mandatory actions that guarantee the channeling of flows mentioned above. - Trust of assets of the station, the lands, the assets of Huanza necessary for the operation of the station that are not under the Financial Lease Agreement and the actions of Huanza, as well as the right of collection on future flows that would correspond receive Huanza before the eventual public auction of the rights and assets of the concession because of the expiration of the concession. - The conditional transfer, by which Huanza assigns to the Bank the rights and obligations derived from the agreements and contracts signed by Huanza for the construction of the Plant. - Letters of Guarantee, by means of which, Buenaventura is constituted as Huanza’ s solidarity guarantor, guaranteeing in favor of the Bank the fulfillment of the obligations breached by Huanza. As of December 31, 2020 and 2019, Huanza complied with these assumed commitments, including that related to the channeling of all the cash flows received for commercial income through a collection account. (e) 2020 2019 US$(000) US$(000) Between 1 and 2 years (Year 2022) 176,665 133,091 Between 2 and 5 years (Years 2023 to 2025) 327,036 127,463 More than 5 years (Years 2026 hereinafter) 6,071 48,566 509,772 309,120 Debt issuance costs (3,205) (3,124) 506,567 305,996 (f) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 571,688 587,062 633,083 New financial obligations — 161,894 — New lease obligations 5,213 19,885 — Disposals of lease obligations (977) (5,079) — Payments of financial obligations (38,994) (186,152) (45,222) Payments of obligations for leases (4,080) (7,596) — Amortization of debt issuance costs in results, note 27(a) 976 2,109 1,024 Accretion expense for leases related to rights in use, nota 27(a) 180 293 — Effect of amortized cost, note 27(a) (361) — — Increase of debt issuance costs (1,992) (728) (2,207) Other minor — — 384 Final balance 531,653 571,688 587,062 (g) 2020 2019 US$(000) US$(000) Buildings 3,971 5,296 Transportation units 3,186 1,429 Machinery and equipment 682 778 7,839 7,503 Classification by maturity: Current portion 3,609 3,692 Non-current portion 4,230 3,811 7,839 7,503 Lease payments are presented in the consolidated statements of cash flows in the Short-term lease payments caption as part of the financing activities. Interest’s expense related to the lease liabilities for the years 2020, 2019 and 2018 is presented in the “Financial costs” caption, note 27. Buildings – Lease liabilities related to buildings mainly correspond to a lease contract entered by Buenaventura on its administrative offices in Lima located in Las Begonias Street N°415, San Isidro, Lima, Peru, with a lease term of 10 years since the year 2013 and fixed payments. The Group has the option to lease the assets for two additional term of 5 years each. 2020 2019 US$(000) US$(000) Within one year 1,470 1,470 After one year but not more than five years 2,227 3,697 3,697 5,167 Transportation units - The Group has lease contracts for mining vehicles used in its operations. Leases of mining vehicles generally have lease terms between one and three years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from assigning and subleasing the leased assets. No contracts require the Group to maintain certain financial ratios nor includes variable lease payments. The Group also has certain leases of assets with lease terms of 12 months or less and leases of office equipment with low value. The Group applies the short-term lease and lease of low-value assets recognition exemptions for these leases.

Shareholders' equity, net

Shareholders' equity, net	12 Months Ended
	Dec. 31, 2020
Shareholders' equity, net
Shareholders' equity, net	17. Shareholders’ equity, net (a) The Group’s share capital is stated in soles and consisted of common shares with voting rights, with a nominal amount of S/10.00 per share. The table below presents the composition of the capital stock as of December 31, 2020 and 2019: Number of Capital Capital shares stock stock S/(000) US$(000) Common shares 274,889,924 2,748,899 813,162 Treasury shares (21,174,734) (211,747) (62,665) 253,715,190 2,537,152 750,497 The market value of the common shares amounted to S/43.80 per share as of December 31, 2020 (S//47.77 per share as of December 31, 2019). These shares present trading frequencies of 5 and 25 percent in the years 2020 and 2019, respectively. (b) Investment shares have a nominal value of S/10.00 per share. Holders of investment shares are neither entitled neither to exercise voting rights nor to participate in shareholders’ meetings; however, they confer upon the holders thereof the right to participate in the dividend’s distribution. The table below presents the composition of the investment shares as of December 31, 2020 and 2019: Number of Investment Investment shares shares shares S/(000) US$(000) Investment shares 744,640 7,447 2,161 Treasury investment shares (472,963) (4,730) (1,370) 271,677 2,717 791 The market value of the investment shares amounted to S/16.00 per share as of December 31, 2020 and 2019. These shares did not have a trading frequency in 2020 and 2019. (c) The Peruvian Corporations Law requires that a minimum of 10 percent of the distributable earnings for each period, after deducting the income tax, be transferred to a legal reserve until the latter is equal to 20 percent of the capital stock. This legal reserve can be used to offset losses or may be capitalized, with the obligation, in both cases, to replenish it. Although, the balance of the legal reserve exceeded the limit mentioned above, the Group increased its legal reserve by US$26,000 in the year 2020 (US$53,000 and US$44,000 in the years 2019 and 2018 respectively) as a result of the expired dividends. According to the General Corporate Law, dividends expire ten years after the payment due. (d) Due to the State of National Emergency declared in the country and the restrictions to the mining industry, which limit it only to the execution of critical activities, the Board agreed in a non-face-to-face session on April 15, 2020, to exclude distribution of dividends from the agenda of the call to the Annual Mandatory Meeting initially scheduled for March 2020, which took place in July 15, 2020. The table below presents the dividends declared and paid in 2019 and 2018: Dividends declared and Dividend Meetings Date paid per share US$(000) US$ 2019 Dividends Mandatory Annual Shareholders’ Meeting March 25 16,538 0.06 Less - Dividends of treasury shares (1,298) 15,240 Board of Directors’ Meeting October 29 7,442 0.03 Less - Dividends of treasury shares (584) 6,858 22,098 2018 Dividends Mandatory Annual Shareholders’ Meeting March 27 8,269 0.03 Less - Dividends of treasury shares (648) 7,621 Board of Directors’ Meeting October 25 16,538 0.06 Less - Dividends of treasury shares (1,299) 15,239 22,860 According to the current Law, there are no restrictions for the remittance of dividends or repatriation of capital by foreign investors. Dividends declared by S.M.R.L. Chaupiloma Dos de Cajamarca corresponding to non-controlling interest were US$5,140,000, US$6,500,000 and US$5,560,000 for the years 2020, 2019 and 2018, respectively. (e) Loss per share is calculated by dividing net loss for the period by the weighted average number of shares outstanding during the year. The calculation of loss per share attributable to the equity holders of the parent is presented below: 2020 2019 2018 Loss for the year (numerator) - US$ (135,718,000) (12,208,000) (13,445,000) Total common and investment shares (denominator) 253,986,867 253,986,867 253,986,867 Loss per basic share and diluted - US$ (0.53) (0.05) (0.05) The calculation of profit (loss) per share from continuing operations attributable to the equity holders of the Parent is presented below: 2020 2019 2018 Loss for the year (numerator) - US$ (141,135,000) (1,694,000) (1,637,000) Total common and investment shares (denominator) 253,986,867 253,986,867 253,986,867 Loss per basic share and diluted - US$ (0.56) (0.01) (0.02) The common and investment shares outstanding at the close of 2020, 2019 and 2018 were 253,986,867.
Sociedad Minera Cerro Verde S.A.A. [Member]
Shareholders' equity, net
Shareholders' equity, net	12. Shareholders’ equity (a) Capital stock - As of December 31, 2020, the authorized, subscribed and paid-up capital in accordance with the Company’s by-laws and its related modifications was 350,056,012 common shares. According to the July 11, 2003, Shareholders Agreement, the nominal value of the shares was denominated in US dollars in an amount of US$0.54 per share. As a consequence of the capitalization of restricted earnings associated with tax benefits (reinvestment credits), in December 2009, the nominal value of the shares was increased to US$2.83 per share. The quoted price of these shares was US$20.92 per share as of December 31, 2020 (US$19.30 per share as of December 31, 2019). As of December 31, 2020, the Company’s capital stock structure is as follows: Percentage of individual interest in capital Number of shareholders Total percentage interest Up to 1.00 2,844 4.39 From 1.01 to 20.00 2 21.05 From 20.01 to 30.00 1 21.00 From 30.01 to 60.00 1 53.56 2,848 100.00 (b) Other capital reserves - Other capital reserves include the Company’s legal reserve, which is in accordance with the Peruvian Companies Act, and is created through the transfer of 10% of the earnings for the year up to a maximum of 20% of the paid-in capital. The legal reserve must be used to compensate for losses in the absence of non-distributed earnings or non-restricted reserves, and transfers made to compensate for losses must be replaced with future earnings. This legal reserve may also be used to increase capital stock, but the balance must be restored from future earnings. (c) Dividend Distribution - Dividends paid to shareholders, other than domiciled legal entities, are subject to retention of income tax. On December 10, 2016, Legislative Decree 1261 was enacted reducing the withholding tax rate to 5.0% beginning January 1, 2017. At the non-presential annual mandatory shareholders meeting held on July 3, 2020, shareholders approved that no dividends would be distributed as a result of possible tax payments associated with arbitration proceedings and concerns about the price of copper due to the global uncertainty caused by the COVID-19 pandemic. At the annual mandatory shareholders meeting held on March 29, 2019, shareholders approved a US$150 million dividend payment (US$0.428503 per common share). The total amount of these dividends was applied against retained earnings. This dividend was paid on April 30, 2019, and complied with the withholding tax rules (4.1%). (d) In accordance with the Senior Executive Plan (SEP), stock-based compensation in the ultimate parent (Freeport) is granted to the Company’s senior executives. Amounts presented in “Other capital reserves” in the statement of change in equity totaled US$11.5 million as of December 31, 2020, US$10.1 million as of December 31, 2019 and US$8.9 million as of December 31, 2018. The fair value of stock options is determined using the Black-Scholes-Merton option pricing model. The fair value of restricted share units (RSUs) is based on Freeport's share price on the grant date. Shares of Freeport’s common stock are issued at the vesting date of RSUs settled in shares. The fair value of performance share units (PSUs) are determined using Freeport's stock price and a Monte-Carlo simulation model. Stock options granted under such plans generally expire 10 years after the grant date. Stock options granted prior to 2018 generally vest in 25 percent annual increments; beginning in 2018, awards granted vest in 33 percent annual increments beginning one year from the date of grant. Stock option agreements provide that participants will receive the following year’s vesting upon retirement. Therefore, on the grant date, the Company accelerates one year of amortization for retirement-eligible employees. Stock options provide for accelerated vesting only upon certain qualifying terminations of employment within one year following a change of control. The Company recognizes the compensation cost in the statement of comprehensive income during the award period according to the fair value of the instruments granted. The cost is recognized as an equity contribution in “Other equity contributions.”
Minera Yanacocha SRL and subsidiary [Member]
Shareholders' equity, net
Shareholders' equity, net	15. Partners’ equity (a) As of December 31, 2020 and December 31, 2019, Partners’ contributions comprise 1,214,528,739 common partnership interests at par value of one Peruvian Sol each, fully subscribed and paid-in (equivalent to US$398,216 at the historical exchange rate). Such partnership interest includes 656,484,745 common partnership interests that are owned by foreign investors. On December 21, 2017, Minera Yanacocha purchased back 63,922,565 partnership interests owned by International Finance Corporation (IFC) for US$47,911, which represented 5% of the capital stock of the Company. On February 19, 2018, the Board of the partners approved the reduction of 63,922,565 of the common partnership interests equivalent to US$19,711. On June 14, 2018, the Board of the partners approved the sale of 63,922,565 partnership units to Summit Global Management II BV, see note 14. Under current Peruvian regulations, there is no restriction on the remittance of dividends or repatriation of foreign investment, except as discussed in sections below. The legal structure of the Company is that of a Peruvian limited liability partnership. Major features of such legal structure are: (i) the number of Partners cannot exceed 20, (ii) capital comprises the partnership interests, and (iii) there is no obligation to create a legal reserve. (b) Distribution of earnings to Partners other than legal entities domiciled in Peru is subject to a withholding income tax charged to the partners. Until December 31, 2017, by Law No. 30296 published on December 31, 2014, for individuals and non-resident legal entities, the applicable tax rate was 6.8% for dividend distributions in cash or non-monetary assets for fiscal year 2017. Pursuant to Legislative Decree No. 1261, published on December 10, 2016 and effective as of January 1, 2017, the applicable tax rate to the distribution of cash dividends and non-monetary assets for the year 2017 onwards is 5%. (c) During the years 2020, 2019 and 2018, no dividend distribution was made.

Subsidiaries with material non-

Subsidiaries with material non-controlling interest	12 Months Ended
	Dec. 31, 2020
Subsidiaries with material non-controlling interest
Subsidiaries with material non-controlling interest	18. Subsidiaries with material non-controlling interest (a) Country of incorporation 2020, 2019 and operation and 2018 % Equity interest held by non-controlling interests: Sociedad Minera El Brocal S.A.A. Peru 38.57 S.M.R.L. Chaupiloma Dos de Cajamarca Peru 40.00 Minera La Zanja S.R.L. Peru 46.94 Apu Coropuna S.R.L. Peru 30.00 2020 2019 2018 US$(000) US$(000) US$(000) Accumulated balances of material non-controlling interest: Sociedad Minera El Brocal S.A.A. 144,501 161,917 176,978 Minera La Zanja S.R.L. 26,121 33,026 42,295 S.M.R.L. Chaupiloma Dos de Cajamarca 1,648 1,587 1,800 Apu Coropuna S.R.L. 127 148 164 172,397 196,678 221,237 Profit (loss) allocated to material non-controlling interest: Sociedad Minera El Brocal S.A.A. (12,895) (13,432) 2,880 Minera La Zanja S.R.L. (6,905) (9,090) (6,346) Apu Coropuna S.R.L. (22) (14) (410) S.M.R.L. Chaupiloma Dos de Cajamarca 5,201 6,286 5,667 Other minor — (1) — (14,621) (16,251) 1,791 (b) Statements of financial position as of December 31, 2020: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Current assets 166,396 104,076 6,814 2,064 Non-current assets 553,754 30,486 — 169 Current liabilities (170,896) (22,329) (2,694) (1,071) Non-current liabilities (195,809) (56,587) — (740) Shareholders’ equity, net 353,445 55,646 4,120 422 Attributable to: Shareholders of the Group 208,944 29,525 2,472 295 Non-controlling interests 144,501 26,121 1,648 127 353,445 55,646 4,120 422 Statements of financial position as of December 31, 2019: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Current assets 149,945 112,420 6,252 2,141 Non-current assets 576,028 26,038 — 185 Current liabilities (118,965) (20,170) (2,286) (1,094) Non-current liabilities (210,904) (47,930) — (740) Shareholders’ equity, net 396,104 70,358 3,966 492 Attributable to: Shareholders of the Group 234,187 37,332 2,379 344 Non-controlling interests 161,917 33,026 1,587 148 396,104 70,358 3,966 492 Statements of profit or loss for the years 2020, 2019 and 2018: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna Other S.A.A. S.R.L. Cajamarca S.R.L. minor US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 - Revenues 255,275 33,033 18,638 — — Profit (loss) for the year (31,541) (14,712) 13,004 (44) — Attributable to non-controlling interests (12,895) (6,905) 5,201 (22) — Year 2019 - Revenues 299,252 43,520 22,297 — — Profit (loss) for the year (32,855) (19,364) 15,715 (48) (17) Attributable to non-controlling interests (13,432) (9,090) 6,286 (14) (1) Year 2018 - Revenues 332,298 96,611 20,385 — — Profit (loss) for the year 6,305 (13,519) 14,168 (1,369) — Attributable to non-controlling interests 2,880 (6,346) 5,667 (410) — Statements of cash flow for the years 2020, 2019 and 2018: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Year 2020 - Operating activities 53,304 (5,751) 13,738 (74) Investing activities (24,699) (825) — — Financing activities (1,954) — (12,850) — 26,651 (6,576) 888 (74) Year 2019 - Operating activities 1,545 (908) 16,040 — Investing activities (28,259) (1,629) — — Financing activities (405) (763) (16,250) 1,032 (27,119) (3,300) (210) 1,032 Year 2018 - Operating activities 74,985 10,323 14,066 (572) Investing activities (29,546) (13,160) — — Financing activities (29,974) — (13,900) — 15,465 (2,837) 166 (572)

Tax situation

Tax situation	12 Months Ended
	Dec. 31, 2020
Tax situation
Tax situation	19. Tax situation (a) The Company and its Peruvian subsidiaries are subject to the Peruvian tax regime. By means of Law N° 1261 enacted on December 10, 2016, the Peruvian government introduced certain amendments to the Income Tax Law, effective January 1, 2017. The most relevant are listed below: - - - In July 2018, Law No. 30823 was published. Under this Law, the Congress delegated to the Executive Power the power to legislate on various issues, including tax and financial matters. In this sense, the main tax regulations issued are the following: (i) Since January 1, 2019, the applicable treatment of royalties and remuneration for services rendered by non-domiciled was modified (Legislative Decree No. 1369). (ii) The rules that regulate the obligation of legal persons and / or legal entities to inform the identification of their final beneficiaries (Legislative Decree No. 1372) were established. (iii) The Tax Code was modified in order to provide greater guarantees to taxpayers in the application of the general anti-avoidance rule (Rule XVI of the Preliminary Title of the Tax Code); as well as to provide the Tax Administration with tools for its effective implementation. (iv) Rules have been established for the accrual of income and expenses for tax purposes since January 1, 2019. Until 2018, there was no normative definition of this concept, so in many cases, accounting rules were used for its interpretation. On March 31, 2020, Superintendency Resolution 066-2020 / SUNAT was published in which new default interest rates were established in force since April 1, 2020. The default interest rate in national currency went from 1.2% to 1% and in the case of foreign currency it went from 0.6% to 0.5%. Likewise, interest rates for the return of undue or excess payments in national currency went from 0.50% to 0.42% while the foreign currency went from 0.30% to 0.25%. In the case of interest for return due to withholding and / or non-applied perceptions of VAT, it went from 1.2% to 1%. Through Legislative Decree No. 1488, published on May 10, 2020, a special depreciation regime is established, exceptionally and temporarily, for taxpayers of the General Income Tax Regime, the main aspects of which are the following: - As of fiscal year 2021, buildings and constructions acquired in fiscal years 2020 to 2022, will be depreciated applying an annual percentage of 20% until their total depreciation, provided that the following conditions are met: (i) Are totally affected by the production of third category taxable income. (ii) Construction would have started as of January 1, 2020. For these purposes, the beginning of construction is understood to be the moment when the building license or other document established by the Regulation is obtained. (iii) Until December 31, 2022, the construction has a work progress of at least 80%. In the case of constructions that have not been completed until December 31, 2022, it is presumed that the work progress to that date is less than 80%, unless the taxpayer proves otherwise. It is understood that the construction has been completed when the approval of the work or other document established by the Regulation has been obtained from the municipality. - - Data processing equipment: 50% - Machinery and equipment: 20% - Land transport vehicle (except railways) with EURO IV, Tier II and EPA 2007 technology, used by authorized companies: 33.3% - Hybrid or electric land transport vehicle (except railways): 50%. (b) 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. 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. 2015-2020 Compañía Minera Condesa S.A. 2015-2020 Compañía Minera Colquirrumi S.A. 2015-2020 Consorcio Energético de Huancavelica S.A. 2015-2020 Contacto Corredores de Seguros S.A. 2015-2020 El Molle Verde S.A.C. 2015-2020 Empresa de Generación Huanza S.A. 2015-2020 Inversiones Colquijirca S.A. 2015-2020 Minera La Zanja S.R.L. 2015-2020 Sociedad Minera El Brocal S.A.A. 2015-2020 S.M.R.L. Chaupiloma Dos de Cajamarca 2015-2020 Procesadora Industrial Río Seco S. A. 2015-2020 Apu Coropuna S.R.L. 2015-2020 Cerro Hablador S. A. C. 2015-2020 Minera Azola S. R. L. 2015-2020 Due to the possible interpretations that the Tax Authorities may give to legislation in effect, it is not possible to determine whether any of the tax audits will result in increased liabilities for the Group. For that reason, any tax or surcharge that could arise from future tax audits would be applied to the income of the period in which it is determined. In management’s opinion and its legal advisors, any possible additional payment of taxes in the entities mentioned before would not have a material effect on the consolidated financial statements as of December 31, 2020 and 2019. The open tax process of the Group and its associates are described in note 29(d). (c) As of December 2020 and 2019, the tax-loss carryforward determined by the Group amounts to approximately S/2,469,226,000 and S/1,950,896,000, respectively (equivalent to US$681,354,000 and US$588,151,000 respectively). As permitted by the Income Tax Law, the Group has chosen a system that permits to offset these losses with an annual cap equivalent to 50 percent of net future taxable income. The Group recognized a deferred income tax asset related to the tax-loss carryforward of those companies where is probable that a carryforward can be used to compensate future taxable profits. See note 28. (d)
Minera Yanacocha SRL and subsidiary [Member]
Tax situation
Tax situation	16. Tax Situation (a) The Company and its subsidiary are subject to the Peruvian tax regime. The main tax regulations issued in recent years were the following: - On March 31, 2020, Superintendence Resolution 066-2020/SUNAT was published in which new default monthly interest rates were established effective April 1, 2020. The default interest rate in national currency changes from 1.2% to 1% and in the case of foreign currency it changes from 0.6% to 0.5%. Likewise, interest rates for the return of undue or excess payments in national currency (soles) change from 0.50% to 0.42% and in the case of foreign currency (US Dollars) change from 0.30% to 0.25%. Finally, the interest rate on returns due to withholding and/or non-applied perceptions of VAT changes from 1.2% to 1%. - Peru’s Executive Power issued Supreme Decree 086-2020-EF on April 21, 2020, modifying the requirements for deducting “wasted goods” for income tax purposes. The Company compliance the requirements of the law about destructions for year 2020. - On May 10, 2020, Peru’s Executive Power enacted Legislative Decree 1488, establishing special depreciation rules. This measure responds to the COVID-19 crisis. Legislative Decree 1488 is effective January 1, 2021. In Law 31107, published in the Official Gazette on 31 December 2020, the Peruvian Government permits taxpayers to elect to apply the 20% depreciation rate (rather than the 5% rate) under the special depreciation regime for buildings and construction. Under prior law (Legislative Decree 1488), the 20% rate automatically applied if the following requirements were met: (i) the construction began January 1, 2020 and (ii) 80% or more of the work was completed by December 31, 2020. Once made on the annual tax return, the election to apply the 20% rate is irrevocable. In addition, for data processing equipment, machinery and equipment and ground transport vehicles acquired in 2020 and 2021, the law has stated that i. For data processing equipment (Slot machines excluded) a maximum tax depreciation rate of 50%. ii. Machinery and equipment (mining equipment not included) a maximum tax depreciation rate of 20%. iii. In the case of vehicles used by companies authorized to provide the service of transport of persons and/or goods, ground transport vehicles (except railways) which have a technology of higher environmental requirement than that provided for vehicles with EURO IV, Tier II and EPA 2007 technology are included in the new regimen a maximum tax depreciation rate of 33.3%. iv. Ground transport vehicles (except railways) of natural gas are included in the new regimen a maximum tax depreciation rate of 50%. This law takes effect from January 1, 2021. This changed law will be applied to Company. - - In July 2018, Law No. 30823 was published. Under this Law, the Congress delegated to the Executive Power the power to legislate on various issues, including tax and financial matters. In this sense, the main tax regulations issued are the following: (i) (ii) (b) The Company has entered into the following tax stability agreement with a term of 15 years: Date of the Tax Mine Effective Agreement Tax Regimes in Force La Quinua January 1, 2004 August 25, 2003 August 25, 2003 The La Quinua tax stabilization guaranteed the Company’s use of the tax regime shown in the table above and permitted maintenance of its accounting records in U.S. dollars for tax purposes, which expired on January 1, 2019. The Company determines taxable income based on its understanding and that of its legal advisors, of applicable tax legislation. Taxable income differs from pre-tax income disclosed within these consolidated financial statements by those items that the applicable tax legislation deems to be non-taxable or non-deductible. Pursuant to Legislative Decree No. 1261, published on December 10, 2016 and effective as of January 1, 2017, the applicable tax rate on the taxable income is 29.5%. (c) As general rule , 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 Company. However, in year 2020 the prescription period was suspended due to the declaration of the state of emergency and social isolation (quarantine), this issue was confirmed by the Tax Authority in reports No. 031-2020 and No. 039.2020, considering this tax return of fiscal year 2015 is still be open for examination until March 2021. In that regard, the tax returns of the years 2015 to 2020 are open to assessment. The fiscal year 2014 is under examination by the Tax Authority (SUNAT). (d) For purposes of determining the Income Tax, the transfer prices for transactions with related companies and companies domiciled in territories with little or no taxation must be supported with documentation and information on the valuation methods used and the criteria considered for their determination. Tax Administration can request this information based on analysis of the Company's operations. (e) (i) On September 28, 2011, the Peruvian Government enacted new legislation to comprise a new mining tax payable to the Peruvian Government for extracting metallic and non-metallic mineral resources from its mining concessions. Pursuant to this legislation, the mining royalty is payable quarterly based on sales and operating profit. The royalty amount due is 1% of revenue. An additional mining tax due is calculated based on the level of operating profit up to a maximum applicable rate of 12%. This component of the new mining tax only applies to those projects that are not covered by a tax stabilization agreement. During 2020, 2019, and 2018, the amounts included in cost of production related to mining royalties were US$6,167 US$7,360 and US$1,273, respectively. During 2020 and 2019, the amount included in mining tax expense related to mining royalties were US$55 and US$1,563 and during 2018 there was no amount included in mining tax expense. (ii) The Special Mining Tax (IEM) applies to mines not covered by a tax stabilization agreement. The IEM is payable on a quarterly basis with rates ranging from 2% to 8.4% of operating profit. The rate varies depending on the level of operating profit. During the years ended December 31, 2020, 2019 and 2018 the amounts included in income and mining tax expense were US$5,065, US$9,702 and US$592, respectively. (iii) The Special Mining Burden (GEM) applies to mines covered by a tax stabilization agreement. The GEM is payable on a quarterly basis with rates ranging from 4% to 13.12% of operating profit. The rate varies depending on the level of operating profit margin. The GEM applied to operations at La Quinua in 2018 and 2017. This resulted in US$8,230 and US$3,526, respectively, of additional Income and mining tax expense. Due to that the tax stabilization agreement expired on January 1, 2019, Special Mining Burden was not declared in 2019 and 2020. (iv) The Supplementary Fund for retirement of mining applies to metallurgical and steel workers, affiliated to the National Pension System (SNP) and the Private Pension System (PPS); and is applicable since May 11, 2012. This Fund is formed by employee and employer contributions which are distributed according to the following detail: - Employers will contribute 0.5% of the annual income before taxes. - Employees will contribute 0.5% of their monthly gross salary. - The employer’s contributions are paid before tax; therefore these amounts are deductible expenses for the year. The new pension fund tax is calculated based on annual income and is payable quarterly. During the years ended December 31, 2020, 2019 and 2018 the amounts included in Income and mining tax expense amounted to US$868, US$728 and US$39, respectively. (f) The Company’s income tax provision consisted of the following: 2020 2019 2018 US$(000) US$(000) US$(000) Current Peruvian income tax 51,197 42,978 12,701 Royalties and mining taxes 5,065 11,444 8,888 Income tax from prior years (refunds)/payments (1,712) 8,459 8,269 Other taxes 1,363 993 510 Income tax prior years refunds (*) (2,895) (3,002) — Fines from previous years — 4,056 — Current income tax expense 53,018 64,928 30,368 Deferred income tax benefit — — (1,071) Income tax expense 53,018 64,928 29,297 (*) (g) As of December 31, 2020 and 2019, the Company maintains a deferred income tax asset for US$1,071 recorded in year 2018. The recognized deferred income tax asset corresponds entirely to additional tax credits that can be recovered by reducing the income tax paid of open periods subject to review of the tax authority. The Company has temporary differences that make up a deferred income tax asset for US$1.1 billion, this deferred income tax asset has not been recognized as management believes that there are no probable sufficient taxable profit in future periods nor evidence of tax planning opportunities to support the recognition of this temporary differences as income tax assets. The Company has temporary differences that make up a deferred income tax asset for US$1.1 billion, this deferred income tax asset has not been recognized as management believes that there are no probable sufficient taxable profit in future periods nor evidence of tax planning opportunities to support the recognition of this temporary differences as income tax assets. (h) Below is a reconciliation of tax expense and the accounts profit multiplied by the statutory tax rate for the years 2020, 2019 and 2018: 2020 2019 2018 US$(000) US$(000) US$(000) Loss before income tax (112,431) (30,329) (52,220) Peruvian statutory tax rate 29.5 % 29.5 % 29.5 % Income tax income (33,167) (8,947) (15,405) Valuation allowance on deferred tax asset 57,131 46,473 23,771 Effect of change in translation to US dollars 23,075 (4,217) — Royalties and Mining taxes 5,065 11,444 8,888 Credit of Royalties and Mining taxes (1,494) (3,376) (2,622) Non-deductible expenses 7,015 13,837 6,572 Ruling on a tax case from 2007-2009 (2,895) — — Income tax prior years (refunds) / payments (1,712) 8,459 8,269 Difference in income tax rate applicable to La Quinua at 29% — — (176) Ruling on a tax case from 2004 — (2,801) — Fines from prior years, note 24 — 4,056 — Total income tax expense 53,018 64,928 29,297 (j) As of December 31, 2020, the Company determined a current income tax payable of US$39,604 (Income tax payable of US$20,276 as December 31, 2019) and mining taxes payable for US$2,425 (US$2,877 as December 31, 2019). The current income tax payable of year 2020 includes the current income tax offset by the credits of the period. No contingencies were recognized in 2020.
Sociedad Minera Cerro Verde S.A.A. [Member]
Tax situation
Tax situation	13. Tax situation (a) On February 13, 1998, the Company signed an Agreement of Guarantees and Measures to Promote Investments with the Government of Peru, under the Peruvian General Mining Law (the 1998 Stability Agreement). Upon approval of the 1998 Stability Agreement, the Company was subject to the tax, administrative and exchange regulations in force at May 6, 1996, for a period of 15 years, beginning January 1, 1999, and ending December 31, 2013. On July 17, 2012, the Company signed a new Agreement of Guarantees and Measures to Promote Investments with the Government of Peru, under the Peruvian General Mining Law. Upon approval of this stability agreement, the Company became subject to the tax, administrative and exchange regulations in force at July 17, 2012, for a period of 15 years, beginning January 1, 2014, and ending December 31, 2028. (b) Under its current 15‑year tax stability agreement, the Peruvian income tax rate applicable to the Company is 32%. As of December 31, 2020, the Company has recorded income tax prepayments and/or benefits which it expects to use to offset future income tax provisions or will be refunded by SUNAT, totaled US$13.7 million (see Note 6). For the year ended December 31, 2020, the Company recognized current income tax expense of US$210.6 million (including US$17.3 million for special mining, US$14.9 million of mining royalties, and US$2.6 million for the SRF), and a deferred income tax expense of US$26.3 million, resulting in a total income tax expense of US$236.9 million that has been included in the statements of comprehensive income. For the year ended December 31, 2019, the Company recognized current income tax expense of US$156.5 million (including US$28.4 million of mining royalties, US$18.6 million of special mining tax and US$1.8 million for the SRF), and a deferred income tax expense of US$141.6 million, resulting in total income tax expense of US$298.1 million that has been included in the statements of comprehensive income. For the year ended December 31, 2018, the Company recognized current income tax expense of US$263.0 million (including US$34.9 million of mining royalties and US$1.5 million for the SRF partially offset by a credit of US$(28.2) million of special mining tax), and a deferred income tax expense of US$62.2 million, resulting in total income tax expense of US$325.2 million that has been included in the statements of comprehensive income. (c) SUNAT has the right to examine, and if necessary, amend the Company’s income tax return for the last four years. The Company’s income tax for the years 2014 through 2019 are open to examination by the tax authorities and the years 2014 through 2016 are currently being examined. To date, SUNAT has concluded its review of the Company’s income tax through the year 2013 and the Company is in the claim and/or appeal process for the years 2003 through 2012. Due to the many possible interpretations of current legislation, it is not possible to determine whether or not future reviews (including reviews of years pending examination) will result in additional tax liabilities for the Company. If management determines it is more likely than not that additional taxes are payable, these amounts, including any related interest and penalties, will be charged to expense in that period. In management’s and its legal advisors’ opinions, any possible tax settlement is not expected to be material to the financial statements. (d) Royalties and special mining taxes – On June 23, 2004, Law 28528 was approved, which requires the holder of a mineral concession to pay a royalty in return for the exploitation of metallic and non-metallic minerals. The royalty is calculated using rates ranging from 1% to 3% of the value of concentrate or its equivalent according to the international price of the commodity published by the Ministry of Energy and Mines. Prior to January 1, 2014, the Company determined that these royalties were not applicable because it operated under the 1998 Stability Agreement with the Peruvian government. However, beginning January 1, 2014, the Company began paying royalties calculated on operating income with rates between 1% to 12% and a new special mining tax for its entire production base under its current 15-year tax stability agreement, which became effective January 1, 2014. The amount to be paid for the mining royalty will be the greater of a progressive rate of the quarterly operating income or 1% of quarterly sales. SUNAT assessed mining royalties on materials processed by the Company´s concentrator, which commenced operations in late 2006. These assessments cover the period December 2006 to December 2013. The Company contested each of these assessments because it considers that its 1998 Stability Agreement exempts from royalties all minerals extracted from its mining concession, irrespective of the method used for processing such minerals. No assessments can be issued for years after 2013, as the Company began paying royalties on all of its production in January 2014 under its new 15‑year stability agreement. Since 2017, the Company recorded charges of S/2.8 billion (approximately US$771.2 million based on the December 31, 2020, exchange rate, including deferred interest, interest and penalties of US$496.5 million) for the royalty and special mining tax assessments for the period December 2006 through the year 2013. Since 2014, the Company has been paying the disputed assessments under protest for the period from December 2006 through December 2013 under installment payment programs. Through December 31, 2020, the Company has made payments totaling S/1.6 billion under these installment programs (US$476.7 million based on the date of payment exchange rate and US$435.2 million based on the December 31, 2020, exchange rate). On July 13, 2020, the Company requested the application of the Deferral and / or Installment Regime, approved by Legislative Decree No. 1487, which contemplates a reduced interest rate on the debts administered by SUNAT related to the current installment payment programs of special mining tax for the period October 2011 through December 2013. The request includes a six month of deferred interest and thirty installment payments. This request was approved by SUNAT in August 2020. During February 2020, the Company requested the initiation of an arbitration proceeding against the Republic of Peru before the International Centre for Settlement of Investment Disputes (ICSID). On March 31, 2020, Superintendence Resolution 066-2020/SUNAT was published in which new default monthly interest rates were established effective April 1, 2020. The default interest rate in national currency changes from 1.2% to 1% and in the case of foreign currency it changes from 0.6% to 0.5%. Likewise, interest rates for the return of undue or excess payments in national currency (soles) change from 0.50% to 0.42% and in the case of foreign currency (US Dollars) change from 0.30% to 0.25%. Finally, the interest rate on returns due to withholding and/or non-applied perceptions of VAT changes from 1.2% to 1%. (e) Other assessments received from SUNAT and other regulatory entities - The Company has also received assessments from SUNAT for additional taxes (other than the mining royalty and special mining tax explained in Note 13(d) above), including penalties and interest. The Company has filed objections to the assessments because it believes it has properly determined and paid its taxes. A summary of these assessments follows: Year Taxes Penalty and interest Total US$(000) US$(000) US$(000) 2003 – 2005 8,780 39,700 48,480 2006 11,206 51,769 62,975 2007 12,821 21,177 33,998 2008 16,906 16,859 33,765 2009 56,000 51,606 107,606 2010 53,700 117,880 171,580 2011 41,063 67,932 108,995 2012 869 9,477 10,346 2013 48,401 65,902 114,303 2014 –2020 44,864 — 44,864 294,610 442,302 736,912 As of December 31, 2020, the Company has paid US$432.7 million of which US$190.5 million is included in “Other non-financial assets, non-current” (see Note 6) in the statements of financial position for these disputed tax assessments. The Company believes this amount is recoverable. Assessments for the year 2014 through 2020 correspond to contribution payments to other regulatory entities. (f) As of December 31, 2020 and 2019, the Company has issued letters of credit to secure tax obligations amounting to S/1,370.3 million (equivalent to US$378.1 million) and S/1,643.9 million (equivalent to US$495.6 million), respectively, which are primarily related to installment programs for the royalty dispute matter. (g) The Company recognizes the effect of temporary differences between the accounting base for financial reporting purposes and the tax base. The composition of this item is made up as follows: December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Deferred Income tax Asset Cost of net asset for the construction of the tailing dam 125,621 30,033 26,449 Royalty accrual 83,570 84,546 109,505 Provision for remediation and mine closure 19,937 17,309 15,131 Unpaid vacations 7,015 6,618 5,937 Provision for mining taxes 6,124 3,737 4,120 Leases 931 406 — Development costs 59 72 122 SUNAT Assessments — — 4,055 Other provisions 10,826 10,276 10,450 254,083 152,997 175,769 Liability Property, plant and equipment depreciation 545,636 458,307 361,453 Stripping activity asset 43,187 33,661 27,464 Embedded derivatives for price adjustment of copper concentrate and cathode 37,862 10,742 Valuation of inventories 18,479 14,885 16,605 Debt issuance costs 412 933 1,894 645,576 518,528 401,366 Deferred liabilities, net 391,493 365,531 225,597 Supplementary retirement fund Deferred liability 4,581 4,258 2,651 Total deferred income tax liability, net 396,074 369,789 228,248 Reconciliation of the income tax rate - For the years ended December 31, 2020, 2019 and 2018, the income tax expense recorded differs from the result of applying the legal rate to the Company’s profit before income tax, as detailed below: 2020 2019 2018 US$(000) US$(000) US$(000) Profit before income tax 511,470 688,451 444,880 Income tax rate 32 % 32 % 32 % Expected income tax expense 163,670 220,304 142,362 Moratorium interest 24,652 4,052 1,367 Non - deductible expenses 16,925 24,129 23,985 Income tax true – ups 7,293 (10,255) (10,312) IFRIC 23 adoption — 20,767 — Royalty case — — 143,728 Special mining tax and mining royalties (10,305) (15,660) (25,165) Special mining burden (GEM) — — (22,334) Income tax rate change effect on deferred taxes for change in Peruvian tax law once the current Stability Contract expires (from 32% to 30.85%) (2,750) (2,746) (1,958) Others 4,348 7,620 4,896 Current and deferred income tax charges to results 203,833 248,211 256,569 Mining taxes charged to results 31,535 48,036 65,055 Supplementary retirement fund charged to results 1,558 1,827 3,546 236,926 298,074 325,170 Effective income tax 46.32 % 43.30 % 73.09 % Income tax - The income tax expense for the years ended December 31, 2020,2019 and 2018 is shown below: 2020 2019 2018 US$(000) US$(000) US$(000) Income tax Current 175,870 107,666 254,767 Deferred 25,962 139,934 61,483 201,832 247,600 316,250 Mining taxes Current mining royalty and special mining tax 32,203 47,032 6,661 Supplementary retirement fund Current 2,568 1,835 1,499 Deferred 323 1,607 760 2,891 3,442 2,259 Income tax expense reported in the statements of comprehensive income 236,926 298,074 325,170

Net sales

Net sales	12 Months Ended
	Dec. 31, 2020
Sale of goods [Line Items]
Net sales	20. Sales (a) 2020 2019 2018 US$(000) US$(000) US$(000) Revenues by geographic region: Metal and concentrates sales - Peru 389,854 476,978 521,017 America - other than Peru 163,500 171,769 370,624 Europe 42,210 60,475 100,792 Asia 39,110 105,645 120,519 634,674 814,867 1,112,952 Services - Peru 20,173 23,501 23,712 America - other than Peru 92 130 289 Europe 20 30 — 20,285 23,661 24,001 Royalties - Peru 18,638 22,297 20,385 673,597 860,825 1,157,338 2020 2019 2018 US$(000) US$(000) US$(000) Revenues by type of good or services: Sales by metal - Silver 230,498 298,171 362,122 Gold 229,590 254,194 411,877 Copper 181,311 238,304 274,761 Zinc 120,546 149,317 164,666 Lead 48,426 89,141 85,555 Manganese sulfate 4,051 6,046 6,655 814,422 1,035,173 1,305,636 Commercial deductions, note 2.4(q) (179,748) (220,306) (192,684) Sales of goods, note 20(b) 634,674 814,867 1,112,952 Sales of Services, note 20(b) 20,285 23,661 24,001 Royalties income, note 20(b) 18,638 22,297 20,385 Total revenue from contracts with customers 673,597 860,825 1,157,338 Revenues by type of recognition: Goods transferred at a point in time 634,674 814,867 1,112,952 Services transferred over time 20,285 23,661 24,001 Royalties at a point of time 18,638 22,297 20,385 673,597 860,825 1,157,338 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Contracts with customers for sale of goods (a) 634,674 814,867 1,112,952 Fair value of accounts receivables 5,154 2,347 (6,013) Adjustments to prior period liquidations 4,255 394 788 Hedge operations, note 32(a) (6,464) 4,322 (1,398) Sale of goods 637,619 821,930 1,106,329 Sale of services, note 20(a) 20,285 23,661 24,001 Royalty income, note 20(a) 18,638 22,297 20,385 676,542 867,888 1,150,715 (c) The performance obligation of the sale of goods is satisfied upon delivery of the goods and payment is generally due within 30 to 90 days from delivery. Performance obligation of services is satisfied over-time and payment is generally due upon completion and acceptance of service. (d) In 2020, the four customers with sales of more than 10 percent of total sales represented 26, 23, 16 and 15 percent from the total sales of the Group (three customers by 25, 16 and 11 percent during 2019 and three customers by 32, 13 and 11 percent during 2018). As of December 31, 2020, 65 percent of the accounts receivable correspond to these customers (84 percent as of December 31, 2019). These customers are related to the mining business. The Group's sales of gold and concentrates are delivered to its customers (investment banks and national and international well-known companies). Some of these customers have long-term sales contracts with the Group that guarantee supplying them the production from the Group’s mines. (e) Sales expenses represent 3%, 3% and 2% of the total operating income for the years 2020, 2019 and 2018, respectively. Sales expenses corresponds mainly to transportation services and shipping costs. Transportation services represent 64%, 58% and 58% of the caption for the years 2020, 2019 and 2018, respectively. Shipping services and expenses represent 13%, 22% and 21% of the caption for the years 2020, 2019 and 2018.
Sociedad Minera Cerro Verde S.A.A. [Member]
Sale of goods [Line Items]
Net sales	14. Revenues (a) For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Pounds (000) US$(000) Pounds (000) US$(000) Pounds (000) US$(000) Copper in concentrate 743,274 2,088,167 912,974 2,294,249 962,113 2,458,088 Copper cathode 83,870 241,808 88,875 244,277 86,346 251,908 Other (primarily silver and molybdenum concentrate) 208,618 358,368 351,934 Total revenues 2,538,593 2,896,894 3,061,930 Revenues with related parties totaled US$2.4 billion for the year ended December 31, 2020 (US$2.7 billion for the year ended December 31, 2019 and US$2.9 billion for the year ended December 31, 2018). As described in Note 2(d), the Company’s copper sales are provisionally priced at shipment. Adjustments to the provisional prices are recognized as gains and losses in sales of goods through the month of settlement. Adjustments to provisional priced copper and molybdenum sales resulted in increases in revenues totaling US$64.7 million for the year ended December 31, 2020, US$56.8 million for the year ended December 31, 2019, and a decrease of US$88.8 million for the year ended December 31, 2018. (b) For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Asia 2,096,084 2,374,350 2,404,530 Europe 207,954 77,716 209,894 North America 120,865 265,599 295,448 South America (primarily Peru) 106,489 168,077 136,400 Central America 7,201 11,152 15,658 2,538,593 2,896,894 3,061,930 (c) For the year ended December 31, 2020, 94% of the Company’s sales were to related entities (FMC, Sumitomo Metal Mining Company and Climax Molybdenum). For the year ended December 31, 2019, 92%, and for the year ended December 31, 2018, 94% of the Company’s sales were to these related entities.
Minera Yanacocha SRL and subsidiary [Member]
Sale of goods [Line Items]
Net sales	17. Revenue from contracts with customers (a) 2020 2019 2018 US$(000) US$(000) US$(000) Sales and services by geographic region: Metal sales Europe (Switzerland) 590,002 734,526 518,664 America 1,135 — 139,989 Singapore 1,257 — — 592,394 734,526 658,653 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Copper and silver in concentrate 27,765 4,098 20,442 Others 3 678 1,523 27,768 4,776 21,965 For the year ended December 31, 2020, 2019 and 2018, the amount of the subsequent changes in fair value of the trade receivable were US $583, US $176 and US $15, respectively and are presented as part of the caption “Copper and silver in concentrate”. (c) – In 2020, the 100% of Dore sales were performed to Royal Bank of Canada consigned to Argor Hereaus (Switzerland), the 100% of concentrate sales performed to Ocean Partners, and, during the last quarter of 2020, carbon fines sales to Trafigura. As of December 31, 2019, 100% of sales was performed to Royal Bank of Canada consigned to Argor Hereaus (Switzerland) and no copper concentrate sales performed during the period. The Company's sales of gold and silver and copper concentrates are delivered to investment banks and national and international well-known companies. Some of these clients have long-term sales contracts with the Company for the supply of the production from the Company’s mines.

Cost of sales, without consider

Cost of sales, without considering depreciation and amortization	12 Months Ended
	Dec. 31, 2020
Disclosure of cost of sales [Line Items]
Cost of sales, without considering depreciation and amortization	21. Cost of sales, without considering depreciation and amortization (a) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and products in process, net of depreciation and amortization 31,938 49,206 37,640 Cost of production Services provided by third parties 143,652 196,895 243,410 Consumption of materials and supplies 70,942 96,351 133,961 Direct labor 62,885 79,076 93,122 Electricity and water 36,504 44,583 50,215 Maintenance and repair 22,235 19,729 24,415 Short-term and low-value lease 16,289 20,784 23,539 Transport 12,234 16,341 30,819 Insurances 12,036 12,235 11,311 Provision (reversal) for impairment of finished goods and product in progress, note 8(c) 5,054 (2,143) 4,521 Other minor 11,916 11,755 9,634 Total cost of production of the period 393,747 495,606 624,947 Final balance of products in process and finished goods, net of depreciation and amortization (31,797) (31,938) (49,206) Cost of sales of goods, without considering depreciation and amortization 393,888 512,874 613,381 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Electricity and water 668 589 249 Direct labor 371 1,231 2,128 Services provided by third parties 189 331 382 Transport 87 148 50 Insurances 81 163 86 Maintenance and repair 55 186 543 Consumption of materials and supplies 20 497 675 Short-term and low-value lease 6 89 92 Other minor 77 144 113 1,554 3,378 4,318
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of cost of sales [Line Items]
Cost of sales, without considering depreciation and amortization	15. Cost of sales This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Materials and supplies 581,658 693,292 693,316 Depreciation and amortization (see Note 7 and 2(i)) 451,001 523,512 512,298 Labor (a) 288,104 285,081 357,692 Energy 200,794 228,853 254,243 Third-party services 164,590 181,215 159,514 Incremental costs related to COVID-19 pandemic (b) 95,702 — — Depreciation for right-of-use assets (see Note 7 and 10(a)) 11,320 11,488 — Change in finished goods inventory 10,391 Variable lease payments, low-value and short-term leases (see Note 10(a)) 7,399 7,069 — OEFA and OSINERGMIN contributions (c) 5,889 6,828 7,904 Management Fees 2,000 2,923 2,743 Change in work in process inventory (49,575) (23,427) (8,513) Other costs 39,982 47,033 45,402 1,809,255 1,961,577 2,018,876 (a) (b) For the year ended December 31, 2020 US$(000) Incremental costs (i) 51,071 Labor and other employee expenses (ii) 29,705 Severance costs (iii) 7,485 Capital project write-off 6,255 Exceptional contributions and donations 1,186 95,702 (i) (ii) (iii) (c) In compliance with corporate policies, the Company recognizes administrative costs as an inventory cost (approximately US$35.6 million for the year ended December 31, 2020, US$32.0 million for the year ended December 31, 2019, and US$30.7 million for the year ended December 31, 2018). The effect of this policy is immaterial to the financial statements as a whole.
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of cost of sales [Line Items]
Cost of sales, without considering depreciation and amortization	18. Costs applicable to sales (a) This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and in-process 302,382 341,213 345,489 Beginning balance of provision for net realizable value, note 8(b) (47,925) (89,127) (62,540) Royalties to related parties, note 1(a) and note 24 18,638 22,297 20,385 Mining royalties to the government 7,570 9,255 2,875 Consumption of supplies 138,041 200,036 215,863 Personnel expenses 61,298 72,325 82,645 Other services 31,864 41,120 43,671 Maintenance 17,415 26,645 22,585 Power 20,241 23,619 24,203 Depreciation and amortization, note 2.4(k) and note 10 140,252 144,862 156,212 Workers' profit sharing 17,199 12,804 3,837 Incremental costs related to COVID-19 pandemic and care and maintenance (c) 43,672 — — Provision for mine closure, note 12(b) 124,780 142,129 16,285 Ending balance of provision for net realizable value, note 8(b) 13,287 47,925 89,127 Ending balance of finished goods and in-process (222,258) (302,382) (341,213) 666,456 692,721 619,424 (b) For the years ended December 31, 2020, 2019 and 2018, the cost of inventories recognized in cost of sales was US$299,955, US$326,790 and US$327,459, respectively. (c) The Company recognized charges totaling US$43.7 million for the year ended December 31, 2020, associated with the COVID-19 pandemic and revised operating plans. These charges, none of which were capitalized into inventory, are made up as follows For the year ended to December 31, 2020 US$(000) Incremental costs (i) 27,157 Personnel expenses (i) 11,446 Labor expenses (ii) 5,069 43,672 (i) Represents incremental costs associated with care and maintenance status as part of Peru’s declaration of a National Emergency as a result of the COVID-19 outbreak, which restricted the Company’s operations. The costs primarily include labor costs (US$14.3 million), services (US$9.5 million) and other costs (US$3.3 million). (ii) Expenses associated to the implementation of the Surveillance, Prevention and Control Plan as part of gradual resumption of operations. Refer to Note 1(c) for additional information. (iii) Represents mainly payroll premiums distributed to employees.

Operating expenses, net

Operating expenses, net	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of associates [line items]
Operating expenses, net	21. Selling expenses This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Selling expenses 1,412 1,719 1,551 Other 510 3 1,076 1,922 1,722 2,627

Exploration in operating units

Exploration in operating units	12 Months Ended
	Dec. 31, 2020
Exploration in operating units
Exploration in operating units	22. Exploration in operating units This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and products in process, net of depreciation and amortization 444 2,837 5,157 Services provided by third parties 20,406 33,591 71,513 Direct labor 3,361 1,747 2,349 Purchase of land 2,162 — — Consumption of materials and supplies 1,426 3,712 8,594 Short-term and low-value lease 766 1,186 2,065 Electricity and water 471 905 1,337 Transport 12 71 192 Maintenance and repair 9 10 450 Other minor 283 548 910 Total exploration in operating units 28,896 41,770 87,410 Final balance of products in process and finished goods, net of depreciation and amortization (1,296) (444) (2,837) 28,044 44,163 89,730 As of December 31, 2020, 2019 and 2018, disbursements of exploration in operating amount to US$28.0 million, US$44.2 million and US$89.7 million, respectively, which are presented in the “Payments to suppliers and third parties, and other net” caption of the consolidated statements of cash flows.

Mining royalties

Mining royalties	12 Months Ended
	Dec. 31, 2020
Mining royalties
Mining royalties	23. Mining royalties This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Sindicato minero de Orcopampa S.A., note 29(b) 6,180 4,741 12,122 Royalties paid to the Peruvian State 5,569 8,091 9,266 11,749 12,832 21,388

Administrative expenses

Administrative expenses	12 Months Ended
	Dec. 31, 2020
Administrative expenses [Line Items]
Administrative expenses	24. Administrative expenses This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Personnel expenses 34,500 38,566 34,656 Professional fees 10,517 13,924 15,324 Sundry charges 7,766 7,489 3,965 Depreciation and amortization 3,700 3,825 1,295 Board of Directors’ compensation 2,178 2,202 3,252 Software licenses 1,731 1,706 1,824 Subscriptions and quotes 1,405 1,492 1,938 Insurance 1,272 720 645 Communications 973 1,296 1,512 Donations 708 1,030 1,617 Short-term and low-value lease 611 1,011 5,818 Maintenance and repairs 579 953 2,732 Consumption of materials and supplies 393 422 436 Canons and tributes 318 410 388 Transport 255 878 1,212 Travel and mobility 153 373 467 Allowance for expected credit losses, note 7(f) 126 — 18 67,185 76,297 77,099
Minera Yanacocha SRL and subsidiary [Member]
Administrative expenses [Line Items]
Administrative expenses	20. Administrative expenses This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Management expenses, note 24 874 1,341 1,317 Other 353 403 1,466 1,227 1,744 2,783

Exploration in non-operating ar

Exploration in non-operating areas	12 Months Ended
	Dec. 31, 2020
Exploration in non-operating areas
Exploration in non-operating areas	25. Exploration in non-operating areas This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Services provided by third parties 3,611 22,764 Personnel expenses 1,705 3,632 4,830 Services provided by third parties 1,538 766 1,211 Lands 420 1,528 1,867 Short-term and low-value lease 327 415 1,524 Consumption of materials and supplies 201 328 1,420 Other minor 958 1,599 2,691 8,475 11,879 36,307 During 2020, disbursements of exploration in non-operating areas amount to US$8.5 million mainly focused in Emperatriz and general explorations (US$11.9 million in 2019 mainly focused in Yumpag and Marcapunta exploration projects, US$36.3 million during 2018 mainly focused in Yumpag, Marcapunta and Emperatriz exploration projects), which are presented in the “Payments to suppliers and third parties, and other net” caption of the consolidated statements of cash flows.

Other, net

Other, net	12 Months Ended
	Dec. 31, 2020
Other, net
Other, net	26. Other, net (a) 2020 2019 2018 US$(000) US$(000) US$(000) Other income Sale of supplies and merchandise to third parties 19,581 32,228 46,128 Reversal for impairment of spare parts and supplies, note 8(c) 15,762 11,641 4,665 Sale of services to third parties 5,626 6,415 3,512 Insurance claim recovery (b) 4,381 — 33,735 Revenue from commercial claims 3,800 2,098 — Sale of assets to third parties 1,356 19,405 3,863 Sale of supplies to related parties, note 30(a) 890 1,259 27 Income from previous years 475 1,311 1,504 Sale of investment in subsidiary 250 — 7,097 Sale of assets to related parties, note 30(a) — 11 30 Changes in provisions for exploration projects — — 2,433 Recovery of expenses from previous years — — 81 Income from rental of investment properties — — 45 Expiration of allowance for expected credit losses, note 7(f) — — 45 Other minor 1,646 2,632 (566) 53,767 77,000 102,599 Other expenses Disposal cost of sale of supplies and merchandise to third parties (26,463) (33,664) (57,897) Provision for impairment of spare parts and supplies, note 8(c) (17,266) (15,703) (11,704) Direct expenses (3,311) (15,992) (9,867) Expenses from previous years (1,402) (2,240) (1,831) Disposal cost of sale of supplies and merchandise to related parties (1,211) (2,944) (257) Changes in provisions for exploration projects, note 15(b) (642) (4,020) — Withdrawals and disposals of property, machinery and equipment, note 11(a) (586) (2,926) (6,626) Net cost of property, machinery and equipment to third parties, note 11(a) (192) (4,965) (626) Allowance for expected credit losses, note 7(f) (4) (25) (1,334) Net cost of transfer of investments (c) — — (11,178) Other minor — (9,236) (2,587) (51,077) (91,715) (103,907) 2,690 (14,715) (1,308) (b) For the year 2018, corresponds to the indemnity for the insurance claim of the rotor 2 of the 20X30 mill motor occurred in May 2017 of the subsidiary El Brocal. The total compensation for lost profits and consequential damages is US$38,793,000, while the associated costs for mitigation, repair and cost overruns are US$5,058,000, having a net effect on results of US$33,735,000, see note 26. As of December 31 of 2018, El Brocal has received the full amount of compensation from the insurance. (c) On April 30, 2018, the Company sold its investment in Buenaventura Ingenieros S.A. for US$7.1 million with a related sale costs of US$11.2 million. The transaction generated a net loss of US$4.1 million.

Finance costs and finance incom

Finance costs and finance income	12 Months Ended
	Dec. 31, 2020
Finance costs and revenues [Line Items]
Finance costs and finance income	27. Finance costs and finance income (a) 2020 2019 2018 US$(000) US$(000) US$(000) Interest on time deposits 1,074 4,971 5,176 Interests on third parties loans 355 460 561 Interests on tax claims 352 16 1,701 Interests on loans to related parties, note 30(a) 114 86 92 Dividends income — 3,625 — Other minor 155 517 340 2,050 9,675 7,870 Financial obligations amortized costs, note 16(f) 361 — — Unrealized change of the fair value related to contingent consideration liability (b) — — 1,815 Total finance revenues 2,411 9,675 9,685 Finance costs: Interest on borrowings 19,249 28,418 31,538 Commission for restructuring financial obligations, note 16 3,929 — — Interest on commercial obligations 626 — — Settlement of hedging financial instruments, note 32(b) 146 — — Tax on financial transactions 107 166 173 Interest on loans 55 1 2 Other minor 37 141 703 24,149 28,726 32,416 Accretion expense for mine closure, note 15(b) 6,672 10,390 4,982 Unrealized change of the fair value related to contingent consideration liability (b) 5,690 655 — Accrual of debt issuance costs, note 16(f) 976 2,109 1,024 Accretion expense for leases related to rights in use, nota 16(f) 180 293 — Other minor 155 — — 37,822 (b) On August 18, 2014, Buenaventura acquired from Minera Gold Fields Peru S.A. (“Gold Fields”) 51 percent of the voting shares of Canteras del Hallazgo S.A.C., which represent the whole interest of Gold Fields in the equity of such entity. Through the fusion with Canteras del Hallazgo S.A.C, the Group is the owner of the Chucapaca project, which is located in the Ichuña district, in the General Sanchez Cerro province, in the Moquegua department, Peru. According to previously performed studies, there is evidence of the existence of gold, silver, copper and antimony in the area, specifically in the Canahuire deposit. The purchase and sale agreement considered a contingent consideration of US$23,026,000, which corresponds to the present value of the future royalty payments equivalent to 1.5 percent over the future sales of the minerals arising from the mining properties acquired. The fair value of the future royalty payments was determined using the income approach. Significant increase (decrease) in the future sales of mineral would result in higher (lower) fair value of the contingent consideration liability, while significant increase (decrease) in the discount rate would result in lower (higher) fair value of the liability. Changes in the fair value of this contingent consideration have been recognized through profit or loss in the consolidated statement of profit or loss. As of December 31, 2020, it is highly probable that the Group reaches the projected future sales. The fair value of the contingent consideration determined as of December 31, 2020 reflects this assumption and changes in metal prices. (c) A reconciliation of fair value measurement of the contingent consideration liability is provided below: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 16,410 15,755 17,570 Variation of the fair value in profit and loss 5,690 655 (1,815) Final balance 22,100 16,410 15,755 Significant unobservable valuation inputs are provided below: 2020 2019 Annual average of future sales of mineral (US$000) 222,238 190,815 Useful life of mining properties 14 14 Pre-tax discount rate (%) 9.30 10.00 The Group has the preferential right of acquisition of the royalty in case Gold Fields decides to sell it.
Minera Yanacocha SRL and subsidiary [Member]
Finance costs and revenues [Line Items]
Finance costs and finance income	22. Finance costs This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Unwinding of the discount of the provision for mining closure, note 12(b) 32,049 36,709 36,015 Commissions of guarantee letters 3,153 2,485 2,113 Unwinding of debt instruments, note 14 1,497 1,497 735 Interests on tax contingency and others, see note 23 — 16,938 161 36,699 57,629 39,024

Deferred income tax

Deferred income tax	12 Months Ended
	Dec. 31, 2020
Deferred income tax
Deferred income tax	28. Deferred income tax (a) Credit (debit) to Credit (debit) to Credit (debit) to consolidated Credit (debit) to consolidated As of consolidated statements of other As of consolidated statements of other As of January 1, statement of profit comprehensive Others December 31, statement of profit comprehensive December 31, 2019 or loss income movements 2019 or loss income 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Deferred asset for income tax Tax - loss carryforward 105,462 25,866 — — 131,328 27,185 — 158,513 Difference in depreciation and amortization rates 61,390 (103) — — 61,287 2,616 — 63,903 Provision for closure of mining units, net 11,829 3,684 — — 15,513 (1,313) — 14,200 Provision for impairment of value of inventory 6,833 661 — — 7,494 (195) — 7,299 Contingent consideration liability 4,648 193 — — 4,841 1,671 — 6,512 Impairment loss of long-lived assets 7,472 576 — — 8,048 (6,118) — 1,930 Other minor 9,200 (432) — 400 9,168 207 — 9,375 206,834 30,445 — 400 237,679 24,053 — 261,732 Derivative financial instruments — — — — — — 5,440 5,440 206,834 30,445 — 400 237,679 24,053 5,440 267,172 Deferred assets for mining royalties and special mining tax (6) — — 30 (30) — — Total deferred asset 206,870 30,439 — 400 237,709 24,023 5,440 267,172 Deferred liability for income tax Effect of translation into U.S. dollars (61,271) 14,995 — — (46,276) (31,853) — (78,129) Differences in amortization rates for development costs (65,988) (3,357) — — (69,345) 4,509 — (64,836) Difference in depreciation and amortization rates (36,468) (7,539) — — (44,007) (3,028) — (47,035) Fair value of mining concessions (12,745) (238) — — (12,983) (1,915) — (14,898) Other minors (22,700) 3,367 — — (19,333) (7,036) — (26,369) (199,172) — — (191,944) (39,323) — (231,267) Derivative financial instruments (813) — 813 — — — — — Deferred liability for mining royalties and special mining tax (2) (166) — — (168) (206) — (374) Total deferred liability (199,987) 7,062 813 — (192,112) (39,529) — (231,641) Deferred income tax asset, net 6,883 37,501 813 400 45,597 (15,506) 5,440 35,531 (b) 2020 2019 US$(000) US$(000) Deferred income tax asset 73,850 74,556 Deferred income tax liability (38,319) (28,959) 35,531 45,597 (c) 2020 2019 2018 US$(000) US$(000) US$(000) Income tax expense Current (8,446) (11,851) (12,433) Deferred (15,270) 37,617 (10,029) (23,716) 25,766 (22,462) Mining Royalties and Special Mining Tax Current (1,478) (60) (4,449) Deferred (236) (116) 32 (1,714) (176) (4,417) Total income tax (25,430) 25,590 (26,879) (d) 2020 2019 2018 US$(000) US$(000) US$(000) Profit (loss) before income tax (130,318) (43,535) 27,033 Profit (loss) for discontinued operations 5,409 (10,514) (11,808) Profit (loss) before income tax (124,909) (54,049) 15,225 Theoretical gain (loss) for income tax 36,848 15,944 (4,491) Permanent items and others: Effect of translation into U.S. dollars (31,853) 14,995 (15,248) Non-deductible expenses (11,789) (6,877) (1,095) Foreign exchange difference of permanent items (10,524) (3,081) (2,371) Share in the results of associates and joint ventures (2,808) 14,074 (337) Unrecognized deferred tax asset (2,342) (9,265) (2,038) Deferred stripping cost (2,521) — — Mining royalties and special mining tax 1,273 (24) 3,118 Income tax income (expense) (23,716) 25,766 (22,462) Mining Royalties and Special Mining Tax (1,714) (176) (4,417) Total income tax (25,430) 25,590 (26,879) (e)

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and contingencies [Line Items]
Commitments and contingencies	29. Commitments and contingencies Commitments (a) The Group’s exploration and exploitation activities are subject to environmental protection standards. Law No. 28090 regulates the obligations and procedures that must be met by the holders of mining activities for the preparation, filing and implementation of Mine Closure Plans, as well as the establishment of the corresponding environmental guarantees to secure fulfillment of the investments, subject to the principles of protection, preservation and recovery of the environment. Law No. 28271 regulates environmental liabilities in mining activities. This Law has the objective of ruling the identification of mining activity’s environmental liabilities and financing the remediation of the affected areas. According to this law, environmental liabilities refer to the impact caused to the environment by abandoned or inactive mining operations. The Group considers that the recorded liability is sufficient to meet the current regulatory environment in Peru. (b) The Group pays 10 percent on the valued production of mineral obtained from the concessions leased by Sindicato Minero Orcopampa S.A. This concession is in force until the year 2043. The payments are included as royalties, see note 23. Contingencies (c) Buenaventura - The Group is a party in legal procedures that have arisen in the normal course of its activities. Nevertheless, in the opinion of Buenaventura’s Management, none of these procedures, individually or as a whole, could result in material contingencies for the consolidated financial statements. The possible contingencies amount to US$5.4 million and US$3.0 million as of December 31, 2020 and 2019, respectively. See note 15(a). Yanacocha - Conga project Constitutional claim - On October 18, 2012, Marco Antonio Arana Zegarra filed a constitutional claim against the Ministry of Energy and Mines and Yanacocha requesting the Court to order the suspension of the Conga project as well as to declare not applicable the October 27, 2010 directorial resolution approving the Conga Project Environmental Impact Assessment (“EIA”). On October 23, 2012, a Cajamarca judge dismissed the claims based on formal grounds finding that: (i) plaintiffs had not exhausted previous administrative proceedings; (ii) the directorial resolution approving the Conga EIA is valid, and was not challenged when issued in the administrative proceedings; (iii) there was inadequate evidence to conclude that the Conga project is a threat to the constitutional right of living in an adequate environment and; (iv) the directorial resolution approving the Conga project EIA does not guarantee that the Conga project will proceed, so there was no imminent threat to be addressed by the Court. The plaintiffs appealed the dismissal of the case. The Civil Court of the Superior Court of Cajamarca confirmed the above mentioned resolution and the plaintiff presented an appeal. On March 13, 2015, the Constitutional Court published its ruling stating that the case should be sent back to the first court with an order to formally admit the case and start the judicial process in order to review the claim and the proofs presented by the plaintiff. Yanacocha has answered the claim. Yanacocha cannot reasonably predict the outcome of this litigation. Yanacocha has not established a provision in the accompanying financial statements for a loss arising from this contingency, which it does not consider probable. Environmental contingences - The Peruvian Agency in charge of conducting environmental evaluations and audits is the OEFA, the Environmental Assessment and Enforcement Agency, this institution conducts periodic supervision of the Yanacocha mine. From 2011 to 2020, the OEFA issued notifications of alleged breaches of Yanacocha's environmental standards and environmental management instruments, related to past supervisions. OEFA has resolved identified findings that do not translate into environmental deterioration as a result of some bad practice in the Yanacocha operation. The experience with OEFA, in the case of finding administrative responsibility to Yanacocha, results in a corrective action, in addition to imposing a fine that is calculated by the avoided cost capitalized on the date of issuance of the directorial resolution, multiplied by potential factors of environmental impact. The presumed offenses identified by the OEFA currently range from zero to 3,667 tax units (UIT), each tax unit being equivalent to approximately US$1,210 based on the current exchange rate with a potential fine for matters pending resolution from zero to US$4.45 million. Yanacocha is responding to all notifications of alleged violations, but cannot reasonably predict the outcome of the agency's allegations. Yanacocha has not established a provision in the financial statements for a loss arising from this contingency, which it does not consider probable. (d) Buenaventura – - In November 2018, the Tax Court resolved the appeal proceedings not recognizing the contracts of physical deliveries and the contractual obligation and considers that the payments correspond to an advance financial settlement of Contracts of Derivative Financial Instruments and that the Company would not have accredited the purpose of hedge and the risks covered. The Company’s Management with the support of its legal advisers initiated various administrative and judicial actions to present their arguments and defend their rights. On November 10, 2020, the Tax Court confirmed the reliquidation of the tax debt determined by SUNAT corresponding to 2007 and 2008. With this ruling, on November 13, 2020, SUNAT notified the Company of the start of the compulsory collection of such taxes for S/1,567,297,000 (equivalent to US$432,477,000), composed of S/192,049,000 (equivalent to US$52,994,000) of income tax and S/1,375,248,000 (equivalent to US$379,483,000) of interest and penalties. The Company made payments under protest during the months of November and December 2020 for S/72,065,000 (equivalent to US$19,918,000), which are recorded in the caption “Trade and other accounts receivable, net”, note 7(g). Based on the opinion of legal advisors who indicate that there are elements to obtain favorable results in the legal proceedings initiated. The Company requested to SUNAT for an installment payment program that deferred payment for six months and thereafter satisfies the amount via 66 equal monthly payments, amounting to S/1,505,948,000 (equivalent to US$415,549,000), for which has been delivered, as a guarantee, letters of guarantee for the total debt plus 5% according to the tax requests for a total of S/1,580,126,000 (equivalent to US$436,017,000). The application was approved by SUNAT on January 5, 2021 and payments will begin to be made from July 2021. On December 19, 2018, the Company and its sponsoring attorneys have filed contentious administrative lawsuits before the Judiciary regarding the controversy of taxable years 2007 and 2008. On December 30, 2020, the Company was notified that the claim corresponding to fiscal year 2007 has been declared unfounded by the Nineteenth Administrative Litigation Court with a Subspecialty in Tax and Customs Issues. On January 11, 2021, the Company and its sponsoring attorneys have filed an appeal against said judgment, which will be submitted to the Superior Court. The lawsuit referring to fiscal year 2008 is pending resolution in the Twenty-Second Administrative Litigation Court. In January 2019, the Company and its sponsoring attorneys submitted the requests for precautionary measures in order to suspend the collection actions of the tax debt for the 2007 and 2008 fiscal years. In August 2019, the Company was notified of the resolution that decided to reject the precautionary request referring to fiscal year 2007. In December 2019, a new request for precautionary measure was presented that has been rejected by the Nineteenth Administrative Litigation Court with Subspecialty in Tax and Customs Issues, which has been appealed and is pending resolution in the Superior Court. In April 2019, the Twenty-Second Administrative Litigation Court with a Subspecialty in Tax and Customs Issues required the Company to offer an injunction for 60% of the tax debt for fiscal year 2008. In compliance with said mandate, the Company delivered the letter of guarantee for S/511,030,000 (equivalent to US$141,013,000) with a validity of twelve months, until April 2020. In October 2020, the Company was notified of the resolution that resolved to reject the precautionary request referring to fiscal year 2008 and the letter of guarantee delivered has been without effect and will be returned to the Company. In December 2019, a new request for a precautionary measure was submitted to the Twenty-Second Administrative Litigation Court with a Subspecialty in Tax and Customs Issues in order to suspend collection actions for 2008. Said Court has required the Company to offer Precautionary for 60% of the tax debt, updated as of January 31, 2020, of S/892,682,000 (equivalent to US$246,325,000). In compliance with said mandate, the Company has delivered the letter of guarantee for S/535,609,000 (equivalent to US$147,795,000) with a validity of twelve months, until July 2021. To date, the said precautionary request is pending resolution. - In December 2018, the Tax Court resolved the appeal files confirming reparations for S/70,277,000 (equivalent to US$19,378,000) related to the provision for collection of doubtful debts as an expense and unfounded income unduly deducted. To date, the Company’s Management, with the support of its legal advisors, has initiated administrative and judicial actions to present its arguments and make its rights prevail. In December 2019, SUNAT initiated actions of forced collection of interest and fines for the reliquidation that it has made of prepayments from January to December 2009 and January to February 2010. These are based on the 2007 and 2008 annual tax fiscal years, which were recalculated by SUNAT with the objections mentioned in the first and second paragraphs and which are questioned in the judicial process. On December 20, 2019, SUNAT executed the forced collection of debt amounting to S/120,262,000 (equivalent to US$33,240,000). In opinion of the legal advisors of the Company, favorable results should be obtained in the judicial process that has been initiated, therefore an account receivable have been recognized in the heading "Trade and other accounts receivable, net", see note 7(g). On December 4, 2020, the Tax Court confirmed the reliquidation of the tax debt determined by SUNAT for the year 2010. With this ruling, on December 11, 2020, SUNAT has notified the Company of the initiation of the compulsory collection of the taxes for fiscal year 2010 for S/340,074,000 (equivalent to US$93,839,000). The Company made payments under dispute in December 2020 for S/1,800,000 (equivalent to US$498,000) which are recorded in the caption “Trade and other receivables, net”, see note 7(g). Based on the opinion of the legal advisers who point out that there are elements to obtain a favorable result in the judicial process initiated. On January 5, 2021, the Company requested to SUNAT for an installment payment program that deferred payment for six months and thereafter satisfies the amount via 66 equal monthly payments, amounting to S/339,928,000 (equivalent to US$93,799,000), for which has been delivered, as a guarantee, letters of guarantee for the total debt plus 5% according to the tax requests for a total of S/357,944,000 (equivalent to US$98,770,000). The application was approved by SUNAT on January 14, 2021 and payments will begin to be made from July 2021. On December 14, 2020, the Tax Court confirmed the reliquidation of the tax debt determined by SUNAT for fiscal year 2009. With this ruling, on December 17, 2020, SUNAT notified the Company of the initiation of the compulsory collection of the debt for fiscal year 2009 for S/202,614,000 (equivalent to US$55,909,000). The Company made payments under protest in January 2021 for S/18,807,000 (equivalent to US$5,190,000) which will be recorded in the caption “Trade and other receivables, net”. Based on the opinion of the legal advisers who point out that there are elements to obtain a favorable result in the judicial process initiated. On January 14, 2021, the Company requested to SUNAT for an installment payment program that deferred payment for six months and thereafter satisfies the amount via 66 equal monthly payments, amounting to S/184,922,000 (equivalent to US$51,027,000) for which has been delivered, as a guarantee, letters of guarantee for the total debt plus 5% according to the tax requests for a total of S/194,398,000 (equivalent to US$53,642,000). The application has been approved by SUNAT on January 28, 2021 and payments will begin to be made from July 2021. On March 5, 2019, the Company and its sponsoring attorneys have filed contentious-administrative lawsuits before the Judiciary regarding taxable years 2009 and 2010. The lawsuit referring to the 2009 taxable year is pending resolution in the Twenty-Second Administrative Litigation Court. On November 1, 2020, the Company was notified that the lawsuit corresponding to fiscal year 2010 filed before the Nineteenth Administrative Litigation Court with a Subspecialty in Tax and Customs Issues has been declared founded in relation to the unsupported income unduly deducted from taxable income. On November 9, 2020, the Company and its sponsoring attorneys filed a partial appeal against said judgment, which has been submitted to the Superior Court. On January 7, 2021, the Company was notified with the second instance judgment, issued by the Sixth Superior Chamber declaring the first instance judgment null ordering the Court to issue a new judgment. On January 21, 2021, the Company and its sponsoring lawyers have presented the Appeal for Cassation that must be raised to the Supreme Court. In April 2019, the Company and its sponsoring attorneys submitted the requests for precautionary measures in order to suspend the collection actions for the tax debt for the 2009 and 2010 fiscal years. In May 2019, the Twenty-Second Administrative Litigation Court with a Subspecialty in Tax and Customs Issues required the Company to offer an injunction for 60% of the tax debt for fiscal year 2009. In compliance, the Company delivered the letter of guarantee for S/171,791,000 (equivalent to US$47,404,000) with a validity of twelve months, until May 2020. Said letter has been renewed with a new letter for 60% of the tax debt for fiscal year 2009, updated as of May 14, 2020, from S/196,485,000 (equivalent to US$54,218,000) with a guarantee letter of S/117,891,000 (equivalent to US$32,531,000) valid until May 2021. To date, the precautionary request is pending resolution. In August 2020, the Company was notified of the judicial resolution that decided to reject the precautionary request related to the tax debt for 2010. - On November 12, 2020, the Tax Court (last administrative instance) resolved the appeal, declaring founded, in part, the repair of bonds by contractors and confirming the no recognition of compensation for tax losses. The Company's Management with the support of its legal advisors are initiating administrative and judicial actions to present their arguments and make their rights prevail. As of December 31, 2020, the total possible contingencies related to this audit amount to S/43,462,000 (equivalent to US$11,993,000). - - On November 17, 2020, SUNAT has resolved the claim appeal, confirming the objections made in the inspection process. The Company has paid the tax debt for S/4,744,000 (equivalent to US$1,311,000) to take advantage of the gradualness in the amount of the fines and has been recorded in the caption "Trade and other accounts receivable, net ", see note 7(g), based on the opinion of the legal advisors who indicate that there are arguments to obtain a favorable result in the appeal process that has been initiated before the Tax Court. The Company's Management and its legal advisors are of the opinion that the results of the procedures in the various instances will be favorable to the Company, which is why they consider that it is not necessary to recognize any provision for these contingencies. Subsidiaries – Sociedad Minera El Brocal S.A.A. – - - - - As a result of the resolution, the Tax Administration has notified compliance resolutions by relieving income tax and the effects on payments on account for the years 2011, 2012 and 2013. The Brocal has filed an appeal to the Tax Court. On August 9, 2019, El Brocal filed an administrative contentious lawsuit against the decision of the Tax Court since El Brocal had credited with reliable documentation the basis for the observations on the loss in derivative financial instruments and mining royalties. As of December 31, 2020, the possible contingencies held by El Brocal amount to S/5,220,000 (equivalent to US$1,445,000). El Brocal’s legal advisors believe that the outcome of these proceedings will be favorable and therefore, it is not necessary to recognize a provision for these contingencies. During the year 2019, SUNAT has reviewed the income tax statement for the year 2015. As a result of this review, SUNAT has verified on December 31, 2019 the determination and fine resolutions where it questions the depreciation rate of two tailings and the deduction of the development costs of Smelter Project for a total S/13,930,000 (equivalent to US$3,844,000) determining a debt of S /3,412,000 (equivalent to US$942,000). The Management of El Brocal and its legal advisors considered that the reparations are not supported by what they have started the claim process. On January 27, 2020, El Brocal has canceled the fine resolution with the resolution to benefit from the reduction of the fine. The amount disbursed of S/1,456,000 (equivalent to US$402,000) has been recorded in the caption “Trade and other accounts receivable , net“, see note 7(g). On December 18, 2020, SUNAT has resolved the claim resource, leaving without effect the observation referred to the deduction of the development costs of the Tajo Smelter Project and has confirmed the repair for the depreciation of the tailings for S/6,108,000 (equivalent to US$1,661,000). The Management of El Brocal and its legal advisors consider that the objection has no basis, so on January 12, 2021 they have started the appeal process before the Tax Court. During 2020, SUNAT has reviewed the income tax return for the year 2014. As a consequence of this review, SUNAT has notified on December 30, 2020 the Determination Resolutions and the Fine where it questions the depreciation rate of two tailings dams, the deduction of the development costs of the Tajo Smelter Project and operating expenses for a total of S/16,582,000 (equivalent to US$4,576,000) determining a debt of S/10,902,000 (equivalent to US$3,008,000). El Brocal's management and its legal advisors consider that the objections have no basis, so they are starting the claim process. On January 7, 2021, El Brocal has canceled the tax debt in order to benefit from the reduction of the fine. The amount disbursed of S/7,871,000 (equivalent to US$2,172,000) has been recorded in the caption "Trade and other accounts receivable, net ", see note 7(g). Minera La Zanja S.R.L. - During the years 2016, 2017 and 2018, SUNAT audited the income tax for the years 2013 and 2015; as a result, SUNAT does not recognize deductions payments of profit sharing of ceased workers, payments for police protection, balance of profit sharing and the difference in exchange referred to provision of closure of mining unit. On November 20, 2020, the Tax Court has confirmed the repair of the profit sharing and the difference in exchange. The possible contingencies for these unrecognized deductions amount to S/3,185,000 (equivalent to US$879,000) as of December 31, 2020 (S/2,952,000 equivalent to US$815,000 as of December 31, 2019). In Management´s opinion and its legal advisors, this interpretation is not supported and La Zanja would obtain a favorable result in the claim process that will begin in February 2021. Empresa de Generación Huanza S.A. - During 2015, SUNAT audited the 2014 income tax of the subsidiary Huanza. As a result, a portion of the depreciation of its fixed assets is not recognized for S/27,532,000 (equivalent to US$7,597,000). The possible contingency amounts to S/7,532,000 (equivalent to US$2,080,000) as of December 31, 2020 (S/6,999,000 equivalent to US$2,071,000 as of December 31, 2019). In the opinion of Huanza´ Management and its legal advisors, this interpretation has no basis and therefore, Huanza would obtain a favorable result in the appeal process that has begun. Río Seco S.A.- The Customs Division of the SUNAT has determined an alleged omission in the payment of the General Sales Tax of S/1,815,000 (equivalent to US$501,000) in an import made in 2012 of certain equipment for the construction of the industrial plant. SUNAT supported its position that Rio Seco should have included the amount of the consideration paid by Río Seco for the engineering services provided by its suppliers abroad in the customs value. In the opinion of Management and its legal advisors, this observation is not substantiated and a favorable ruling should be obtained in the complaint and appeal process. On March 13, 2019, the Tax Court notified Resolution No. 0844-A-2019 that confirmed the observation of the Tax Administration. On May 17, 2019, SUNAT initiated the coercive collection actions of the tax debt. Río Seco initiated several administrative and judicial actions to suspend the collection, without favorable results. During July to September 2019, Tax Administration has executed the forced collection of the tax debt amounting to S/11,153,000 (equivalent to US$3,279,000). In the opinion of the legal advisors of Río Seco, a favorable result should be obtained in the judicial process that has been initiated, so that said collection has been recorded in the heading “Trade and other receivables, net”, see note 7(g). On June 13, 2019, Rio Seco has filed an administrative contentious lawsuit against the Tax Court’s Resolution so that the Judicial Power declares its nullity and ignore the Tax Administration's objection. Other subsidiaries - In addition, SUNAT has issued tax assessments as a result of the audit of income taxes of other subsidiaries for S/9,485,000 (equivalent to US$2,617,000). In the opinion of the Management and its legal advisors, the assessments are of possible occurrence; however, the subsidiaries expect to obtain a favorable outcome in the appeal processes initiated. Associates - Cerro Verde - Mining Royalties On June 23, 2004, Law N ° 28528 - Law of Mining Royalty was approved by which the owners of the mining concessions had to be paid, as financial compensation for the exploitation of metallic and non-metallic mineral resources, a mining royalty that was determined applying rates that change between 1% and 3% on the value of the concentrate or its equivalent, according to the price quotation of the international market published by the Ministry of Energy and Mines. Based on the contract of the guarantee signed in 1998, Cerro Verde determined that the payment of mining royalties was not applicable, because it was the contribution after the signing of the contract of the Law of Conquest of the Peruvian Government. However, under the terms of its new guarantee contract, which became effective on January 1, 2014, Cerro Verde began to pay mining royalties and special mining tax for all its production based on Law No. 29788, which it is calculated on the operating profit with rates that fluctuate between 1% and 12%. The amount to be paid for the mining royalty will be the highest amount that results from comparing the result of applying on the quarterly operating profit (the rate is established based on the operating margin for the quarter) or one percent (1%) of revenues generated by sales made in the calendar quarter. SUNAT has assessed mining royalties on materials processed by Cerro Verde´s concentrator, which commenced operations in late 2006. These assessments cover the period December 2006 to December 2013. Cerro Verde contested each of these assessments because it believes that its 1998 stability agreement exempts from royalties all minerals extracted from its mining concession, irrespective of the method used for processing such minerals. No assessments can be issued for years after 2013, as Cerro Verde began paying royalties on all of its production in January 2014 under its new 15‑year stability agreement. Since 2017, Cerro Verde has recorded charges for S/2.8 billion (approximately US$771.2 million at closing exchange rate as of December 31, 2020, including interest, deferral interest and penalties for US$496.5 million) related to the tax observations for mining royalties and special tax on mining for the period December 2006 to December 2013. Since 2014, Cerro Verde has been paying these disputed assessments for the period from December 2006 to December 2013 through fractionation programs (granted through a schedule equivalent to 66 installments monthly), all under protest. As of December 31, 2020, Cerro Verde has made payments for fractionation for a total of S/1.6 billion (equivalent to US$476.7 million based on the exchange rate on the payment date and US$435.2 million based on the closing exchange rate at the December 31, 2020). On July 13, 2020, Cerro Verde requested acceptance of the deferral payment, approved by Legislative Decree No. 1487 that includes an interest rate reduction by the debts administered by SUNAT related to the current installments of the Special Mining Tax for the period October 2011 until December 2013. The request considers six months deferral and thirty installments. This application was approved by SUNAT in August 2020. On February 2020, Cerro Verde filed arbitration proceedings to International Centre for Settlement of Investment Disputes (CIADI). Other assessments received from SUNAT Cerro Verde has also received assessments from SUNAT for additional taxes (other than the mining royalty), including penalties and interest. Cerro Verde has filed or will file objections to the assessments because it believes it has properly determined and paid its taxes. A summary of these assessments follows: Penalty and Year Taxes interest Total US$(000) US$(000) US$(000) 2003 – 2005 8,780 39,700 48,480 2006 11,206 51,769 62,975 2007 12,821 21,177 33,998 2008 16,906 16,859 33,765 2009 56,000 51,606 107,606 2010 53,700 117,880 171,580 2011 41,063 67,932 108,995 2012 869 9,477 10,346 2013 48,401 65,902 114,303 2014 - 2020 44,864 — 44,864 294,610 442,302 736,912 As of December 31, 2019, Cerro Verde has paid US$432.7 million from which US$190.5 million which are included in the financial statements of Cerro Verde, for these file objections. Cerro Verde considers will be recovered. Yanacocha – Withholding income tax for fiscal years 2002 and 2003 - The Tax Administration challenged the withholding tax rate applied on the technical assistance services provided by a non-resident supplier. The services were executed in Peru and also abroad; however, Yanacocha was not able to prove that during the tax audit. Based on that, the Tax Administration considers that the services were wholly executed in Peru; therefore, the withholding tax rate should be 30% instead of 12%. Currently there is no contingency in this regard. The tax liability has been paid by Yanacocha. Tax Dispute related to the amortization of the contractual rights - In 2000, Yanacocha paid Buenaventura and Minas Conga S.R.L. a total of US $29 million to assume their respective contractual positions in mining concession agreements with Chaupiloma Dos de Cajamarca S.M.R.L. The contractual rights allowed Yanacocha the opportunity to conduct exploration on the concessions, but not a purchase of the concessions. The tax authority alleges that the payments to Buenaventura and Minas Conga S.R.L. were acquisitions of mining concessions requiring the amortization of the amounts under the Peru Mining Law over the life of the mine. Yanacocha expensed the amounts at issue in the initial year since the payments were not for the acquisition of a concession but rather these expenses represent the payment of an intangible and therefore, amortizable in a single year or proportionally for up to ten years according to Income Tax Law. In 2010, the Tax Court in Peru ruled in favor of Yanacocha and the tax authority appealed the issue to the judiciary. The first appellate court confirmed the ruling of the Tax Court in favor of Yanacocha. However, in November, 2015, a Superior Court in Peru made an appellate decision overturning the two prior findings in favor of Yanacocha. Yanacocha has appealed the Superior Court ruling to the Peru Supreme Court. On January 18, 2019, the Peru Supreme Court issued notice that three judges support the position of the tax authority and two judges support the position of Yanacocha. Because four votes are required for a final decision, an additional judge was selected to issue a decision and the parties conducted oral arguments in April 2019. In early February 2020, the additional judge ruled in favor of the tax authority, finalizing a decision of the Peru Supreme Court against Yanacocha. Yanacocha will file an action objecting to the fines and interest associated with the underlying decision of the Peru Supreme Court. As a result of the resolution, during 2019 Yanacocha recorded a liability for said process for tax payable of US$8 million and it additionally recorded interest and penalties for US$16.8 million and US$4 million, respectively. The potential liability in this matter is in the form of fines and interest in an amount up to US$61 million. In addition, during 2020, Yanacocha registered an amount of US$2.1 million related to workers participation related to this resolution. It is not possible to fully predict the outcome of this litigation. (e) Letters of credit with financial entities – With the objective that Buenaventura can benefit from the fractionation with respect to its tax debt, Buenaventura delivered letters of guarantee for S/1,780,126,238 (equivalent to US$491.0 million) as of December 31, 2020 issued by financial entities. Likewise, in order to guarantee the obligations, Buenaventura granted in favor of the financial entities the following guarantees: (i) Security interest on the 68,556,629 shares owned by Buenaventura in Sociedad Minera Cerro Verde S.A.A. that represent the totality of its participation as well as the shares that Buenaventura acquires or receives in the future from said company. (ii) Security interest on the 558,044,001 indirectly owned shares of Buenaventura - through Compañía Minera Condesa S.A. - in Minera Yanacocha S.R.L., which represent the totality of its participation, as well as on the shares that Condesa acquires or receives in the future of said society. (iii) Security interest on one share owned by Buenaventura in Empresa de Generación Huanza S.A., and on 186,413,288 shares owned by Consorcio Energético de Huancavelica S.A. in Empresa de Generación Huanza S.A., which represent all of Buenaventura's direct and indirect participation in said company, as well as the shares that Buenaventura and Consorcio Energético de Huancavelica S.A. acquire or receive in the future from said company. (iv) Security interest on 4,965,941 shares owned by Buenaventura in Sociedad Minera El Brocal S.A.A., and on 90,846,185 shares owned by Inversiones Colquijirca S.A. in Sociedad Minera El Brocal S.A.A., which represent all of Buenaventura's direct and indirect participation in said company, as well as the shares that Buenaventura e Inversiones Colquijirca S.A. acquire or receive in the future from said company. (v) Security interest on 21,130,260 shares currently held by Compañía Minera Condesa S.A. in Buenaventura, as well as on the shares that Buenaventura may issue in the future in the name of Compañía Minera Condesa S.A. (vi) Corporate guarantee subject to New York law, granted by the following Buenaventura group companies, which are also guarantors under the Syndicated Loan: Compañía Minera Condesa S.A., Inversiones Colquijirca S.A. and Consorcio Energético de Huancavelica S.A. In addition to complying with the payment of the tax debt in accordance with the fractionation, Buenaventura assumes within the agreement with the financial entities (“secured creditors”) the following specif
Minera Yanacocha SRL and subsidiary [Member]
Commitments and contingencies [Line Items]
Commitments and contingencies	23. Commitments and contingencies Unitization of properties - In December 2000, as a result of the unitization plan carried out by the Partners, the Company signed several asset transfer and mining usufruct agreements with related entities. The main conditions are: - The Company must pay to Chaupiloma, 3% of the quarterly net sales, according to the lease agreement. The mining rights subject to this 3% royalty are those identified in the lease agreement as part of the “Area of Influence of Chaupiloma”. Some of these mining rights are in exploitation and the rest of them in exploration. - The Company must pay to Los Tapados S.A., 3% of the quarterly net sales proceeds of mineral extracted from the transferred and leased concessions of Los Tapados S.A. The transferred and leased concessions of Los Tapados S.A. are also subject to a previously existing royalty on the minerals. These mining rights are in exploitation and others inactive. Legal proceedings - Conga project Constitutional claim - On October 18, 2012, Marco Antonio Arana Zegarra filed a constitutional claim against the Ministry of Energy and Mines and Yanacocha requesting the Court to order the suspension of the Conga project as well as to declare not applicable the October 27, 2010, directorial resolution approving the Conga project Environmental Impact Assessment (EIA). On October 23, 2012, a Cajamarca judge dismissed the claims based on formal grounds finding that: (i) plaintiffs had not exhausted previous administrative proceedings; (ii) the directorial resolution approving the Conga EIA is valid, and was not challenged when issued in the administrative proceedings; (iii) there was inadequate evidence to conclude that the Conga project is a threat to the constitutional right of living in an adequate environment and; (iv) the directorial resolution approving the Conga project EIA does not guarantee that the Conga project will proceed, so there was no imminent threat to be addressed by the Court. The plaintiffs appealed the dismissal of the case. The Civil Court of the Superior Court of Cajamarca confirmed the above mentioned resolution and the plaintiff presented an appeal. On March 13, 2015, the Constitutional Court published its ruling stating that the case should be sent back to the first court with an order to formally admit the case and start the judicial process in order to review the claim and the proofs presented by the plaintiff. Yanacocha has answered the claim. Neither the Company nor Yanacocha can reasonably predict the outcome of this litigation. The Company has not established a provision in the accompanying financial statements for a loss arising from this contingency, which it does not consider probable. Environmental - The Peruvian Agency in charge of conducting environmental evaluations and audits is the OEFA, the Environmental Assessment and Enforcement Agency, this institution conducts periodic supervision of the Yanacocha mine. From 2011 to 2020, the OEFA issued notifications of alleged breaches of Yanacocha's environmental standards and environmental management instruments, related to past supervisions. OEFA has resolved identified findings that do not translate into environmental deterioration as a result of some bad practice in the Yanacocha operation. The experience with OEFA, in the case of finding administrative responsibility to Yanacocha, results in a corrective action, in addition to imposing a fine that is calculated by the avoided cost capitalized on the date of issuance of the directorial resolution, multiplied by potential factors of environmental impact. The presumed offenses identified by the OEFA currently range from zero to 33,676 units (UIT), each tax unit being equivalent to approximately US$1,194 based on the current exchange rate with a potential fine for matters pending resolution from (US$0 to US$40,209). Yanacocha is responding to all notifications of alleged violations, but cannot reasonably predict the outcome of the agency's allegations. The Company has not established a provision in the accompanying consolidated financial statements for a loss arising from this contingency, which it does not consider probable. Open tax procedures - The Tax Authority has the right to examine, and, if necessary, amend the Company’s income tax provision for the last four years. The Company’s income tax filings for the years 2016 through 2019 are open to examination by the tax authorities. However, due to the fact that SUNAT could not carry out its inspection tasks during the quarantine period, the calculation of the statute of limitations was suspended for the 2015 period; In this sense, the prescription for this period (2015) would expire the last week of March 2021, approximately. For value added tax, the periods open for examination are December 2016 through 2020. Regarding the referred quarantine period, the calculation of the statute of limitations related to the value added tax also was suspended for December 2015 to November 2016; In this sense, the prescription for those periods would expire the last week of March 2021, approximately. To date, National Tax Supervisor “SUNAT” has concluded its review of the Company’s tax exams through the year 2013. Fiscal year 2014 is under review by the tax authority (SUNAT). For years 2002 -2003, the Company is in the claim and appeal process. In the Company Management’s and legal advisors’ opinion, there are sound legal grounds to sustain the Company’s tax positions; as a result, Management expects to obtain favorable results on these processes and any additional tax assessment would not be significant to the consolidated financial statements. For the periods pending of examination, due to the many possible interpretations of current legislation, it is not possible to determine whether or not future reviews will result in tax liabilities for the Company. In the event that additional taxes are payable, including interest and surcharges, as a result of the Tax Authority reviews, they will be charged to expense in the period assessed. However, in Management’s and legal advisors’ opinion, any additional tax assessment would not be significant to the consolidated financial statements. Tax contingencies - Withholding income tax for fiscal years 2002 and 2003 - The Tax Administration challenged the withholding tax rate applied on the technical assistance services provided by a non-resident supplier. The services were executed in Peru and also abroad; however, the Company was not able to prove that during the tax audit. Based on that, the Tax Administration considers that the services were wholly executed in Peru; therefore, the withholding tax rate should be 30% instead of 12%. Currently there is no contingency in this regard. The tax liability has been paid by the Company. Tax Dispute related to the amortization of the contractual rights - In 2000, Yanacocha paid Buenaventura and Minas Conga S.R.L. a total of US$29 million to assume their respective contractual positions in mining concession agreements with Chaupiloma Dos de Cajamarca S.M.R.L. The contractual rights allowed Yanacocha the opportunity to conduct exploration on the concessions, but not a purchase of the concessions. The tax authority alleges that the payments to Buenaventura and Minas Conga S.R.L. were acquisitions of mining concessions requiring the amortization of the amounts under the Peru Mining Law over the life of the mine. Yanacocha expensed the amounts at issue in the initial year since the payments were not for the acquisition of a concession but rather these expenses represent the payment of an intangible and therefore, amortizable in a single year or proportionally for up to ten years according to Income Tax Law. In 2010, the tax court in Peru ruled in favor of Yanacocha and the tax authority appealed the issue to the judiciary. The first appellate court confirmed the ruling of the tax court in favor of Yanacocha. However, in November 2015, a Superior Court in Peru made an appellate decision overturning the two prior findings in favor of Yanacocha. Yanacocha has appealed the Superior Court ruling to the Peru Supreme Court. On January 18, 2019, the Peru Supreme Court issued notice that three judges support the position of the tax authority and two judges support the position of Yanacocha. Because four votes are required for a final decision, an additional judge was selected to issue a decision and the parties conducted oral arguments in April 2019. In early February 2020, the additional judge ruled in favor of the tax authority, finalizing a decision of the Peru Supreme Court against Yanacocha. As a result of the decision, the amount of US$29 was recognized as of December 31, 2019 (see note 16(f) and note 22) , but Yanacocha filed two actions objecting to potential excessive interest and duplicity of criteria of up to US$60 and US$81, respectively. It is not possible to fully predict the outcome of this litigation. Letters of Guarantee - The Company has signed Letters of Guarantee with various financial institutions in accordance with the Mine Closure Regulation approved by Supreme Decree No.033‑2005 of the Ministry of Energy and Mines. The table below sets out the outstanding signed commitments at year ends by financial institution. 2020 2019 2018 US$(000) US$(000) US$(000) Scotiabank 259,027 253,317 235,000 Pacífico Zurich 200,000 200,000 — La Positiva 70,000 70,000 — Rimac (Travelers) 60,000 60,000 — Santander 25,000 — — MUFG Bank 25,000 — — Banco de Credito del Peru (a) — — 114,251 BBVA Continental — — 190,000 639,027 583,317 539,251 (a) Letters of guarantee shall come into force if the Company fails to execute in whole or in part the mine closure plan.

Transactions with related compa

Transactions with related companies	12 Months Ended
	Dec. 31, 2020
Hierarchy and fair value of financial instruments [Line Items]
Transactions with related companies	30. Transactions with related companies (a) 2020 2019 2018 US$(000) US$(000) US$(000) Associates - Revenues from: Royalties 18,638 22,297 20,385 Energy 3,173 3,181 3,002 Supplies, note 26(a) 890 1,259 27 Mineral 211 683 1,321 Mining concessions, property, plant and equipment, note 26(a) — 11 30 Purchase of: Supplies 55 9 44 Services rendered to: Administrative and Management services 672 359 214 Services of energy transmission 320 287 393 Operation and maintenance services related to energy transmission 280 287 290 Constructions services 72 4 — Engineering services — — 348 Dividends received and collected from: Compañía Minera Coimolache S.A. 3,649 4,011 7,623 Sociedad Minera Cerro Verde S.A.A. — 29,377 39,169 Joint Venture - Interest income: Transportadora Callao S.A., note 27(a) 114 86 92 Non-controlling shareholders - Dividends paid to: Newmont Peru Limited - Sucursal del Perú 5,140 6,500 5,560 (b) 2020 2019 US$(000) US$(000) Trade and other receivables, note 7(a) Minera Yanacocha S.R.L. 5,604 5,920 Compañía Minera Coimolache S.A. 469 327 6,073 6,247 Other receivables, note 7(a) Transportadora Callao S.A. 2,035 1,951 Compañía Minera Coimolache S.A. 277 1,016 2,312 2,967 8,385 9,214 Trade and other payables, note 14(a) Compañía Minera Coimolache S.A. 141 27 Sociedad Minera Cerro Verde S.A.A. − 2 141 Other payables, note 14(a) Compañía Minera Coimolache S.A. 292 — Other minor 36 51 328 51 For the year ended December 31, 2020,2019 and 2018, there is no allowance for expected credit losses related to related parties accounts. (c) In accordance with mining lease, amended and effective on January 1, 1994, Minera Yanacocha S.R.L. pays the Group a 3% royalty based on quarterly production sold at current market prices, after deducting refinery and transportation costs. The royalty agreement expires in 2032. (d) As of December 31, 2020 and 2019, loans to employees, directors and key personnel amounts to US $7,000 and US $31,000, respectively, are paid monthly and earn interest at market rates. There are no loans to the Group’s directors and key personnel guaranteed with Buenaventura or any of its Subsidiaries’ shares. The Group’s key executives’ compensation (including the related income taxes assumed by the Group) for the years 2020 and 2019 are presented below: 2020 2019 US$(000) US$(000) Accounts payable: Directors’ remuneration 1,797 1,746 Salaries 856 1,020 Bonus to officers 5,828 6,205 Total 8,481 8,971 Disbursements: Salaries 11,586 12,690 Directors’ compensations 1,797 1,746 Total 13,383 14,436 (e)
Minera Yanacocha SRL and subsidiary [Member]
Hierarchy and fair value of financial instruments [Line Items]
Transactions with related companies	24. Transactions with related parties (a) 2020 2019 2018 US$(000) US$(000) US$(000) Royalties accrued: Affiliates: S.M.R.L. Chaupiloma Dos de Cajamarca, note 18 and 1(a) 18,638 22,297 20,385 Services rendered by: Affiliates: Newmont Peru S.R.L. (management services) (b) 9,017 10,729 12,837 Newmont International Services 5,264 10,822 5,181 Newmont USA Limited 10,214 4,118 5,381 (b) (c) 2020 2019 US$(000) US$(000) Balance receivable from related parties, note 6 Newmont International Services Limited 1,431 168 Newmont USA Limited 435 144 Oroplata S.A. 254 — Suriname Gold Company — 135 NVL, USA Limited, Delaware 156 102 Newmont Peru S.R.L. 22 26 Newmont Global Employment Limited 5 20 Others (3) 3 2,300 598 Balance payable for related parties, note 11 S.M.R Chaupiloma Dos de Cajamarca 4,596 4,863 Newmont International Service Limited 4,227 3,297 Newmont Peru S.R.L. 1,033 1,101 Newmont Technologies Limited. 142 1,042 Newmont USA Limited. 2,366 1,034 Newmont US Carlin Limited — 3 Others 10 86 12,374 11,426 All the balances above are of current maturity, have no specific guarantees and are not interest bearing. For the years ended December 31, 2020, 2019 and 2018, there is no allowance for expected credit losses related to related parties accounts.

Disclosure of information on se

Disclosure of information on segments	12 Months Ended
	Dec. 31, 2020
Disclosure of information on segments
Disclosure of information on segments	31. Disclosure of information on segments Management has determined its operating segments based on reports that the Group’s Chief Operating Decision Maker (CODM) uses for making decisions. The Group is organized into business units based on its products and services, activities and geographic locations. The broad categories of the Group’s business units are: - - - - - - - The accounting policies used by the Group in reporting segments internally are the same as those contained in the notes of the consolidated financial statements. The CODM monitors the operating results of the business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss and is measured consistently with operating profit or loss in the Group’s consolidated financial statements. In addition, the Group’s financing and income taxes are managed at the corporate level and are not allocated to the operating segments, except for those entities,which are managed independently. Corporate information mainly includes the following: In the segment information of profit or loss - - - - - In the segment information of assets and liabilities - - - Adjustments and eliminations mainly include the following: In the segment information of consolidated statements of profit or loss – - - - In the segment information of assets and liabilities – - - - Refer to Note 20(a) to the consolidated financial statements for disclosures related to revenues from external customers for each product and service, and revenues from external customers attributed to Peru and foreign countries. Revenue information is based on the locations of customers. Refer to note 20(d) to the consolidated financial statements for information about major customers (representing more than 10 percent of the Group’s revenues). All non-current assets are located in Peru. Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Tinka Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache Resources operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. Ltd. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Results: Continuing operations Sales: Sale of goods 90,420 77,825 32,034 142,833 255,275 33,033 — — — — — 36,541 — 592,394 2,538,593 203,163 — 4,002,111 (3,364,492) 637,619 Sale of Services — — — — — — — 48,254 14,753 — 607 15,335 — 27,768 — — — 106,717 (86,432) 20,285 Royalty income — — — — — — — — — 18,638 — - — — — — — 18,638 — 18,638 Total operating income 90,420 77,825 32,034 142,833 255,275 33,033 — 48,254 14,753 18,638 607 51,876 — 620,162 2,538,593 203,163 — 4,127,466 (3,450,924) 676,542 Operating costs Cost of sales of goods, excluding depreciation and amortization (100,097) (37,139) (16,679) (64,107) (170,148) (31,978) — — — — — (38,607) — (666,456) (1,809,255) (148,122) — (3,082,588) 2,688,700 (393,888) Unabsorbed cost due to production stoppage (9,630) (3,849) (5,167) (822) (10,216) (203) — — — — — (597) — (1,247) — — — (31,731) 3,973 (27,758) Cost of services, excluding depreciation and amortization — — — — — — — (17,868) — — — (5,075) — — — — — — 21,389 (1,554) Depreciation and amortization (16,752) (8,102) (6,412) (72,714) (59,433) (6,595) — (9,347) — — — (10,876) — — — — — (190,231) 611 (189,620) Exploration in operating units (6,731) (5,198) (3,167) (7,157) (5,790) (1) — — — — — — — — — — — (28,044) — (28,044) Mining royalties (1,068) (6,943) (278) (1,228) (1,902) (330) — — — — — — — — — — — (11,749) — (11,749) Total operating costs (134,278) (61,231) (31,703) (146,028) (247,489) (39,107) — (27,215) — — — (55,155) — (667,703) (1,809,255) (148,122) — (3,367,286) 2,714,673 (652,613) Gross profit (loss) (43,858) 16,594 331 (3,195) 7,786 (6,074) — 21,039 14,753 18,638 607 (3,279) (47,541) 729,338 55,041 — 760,180 (736,251) 23,929 Operating expenses, net Administrative expenses (9,140) (7,948) (3,288) (14,548) (7,536) (2,434) (1,649) (2,863) (10,939) (112) (398) (1,498) (5,965) (1,227) — (4,043) (2,311) (75,899) 8,714 (67,185) Selling expenses (3,806) (436) (438) (3,862) (9,070) (104) — (784) — — — (687) — (1,922) (97,680) (1,290) — (120,079) 101,546 (18,533) Write –off of stripping activity asset — − − − (11,633) — — — — — — — — — — — — (11,633) — (11,633) Exploration in non-operating areas (27) − − − (86) (4,769) — — — — — — (3,623) — — — — (8,505) 30 (8,475) Reversal of contingent and others 28 (322) (195) 10 (1,145) 173 33 501 — — — 9 (3,242) — — — — (4,150) — (4,150) Impairment recovery (loss) of long-lived assets − − 2,083 − — — — — — — — — — — — — — 2,083 — 2,083 Other, net 2,776 (1,922) (212) (1,376) (712) (593) 796 — 63 (10) 989 1,186 (34,322) (32,327) 188 — (60,929) 63,619 2,690 Total operating expenses, net (10,169) (2,050) (19,776) (7,846) (2,209) (2,350) (10,939) (49) (408) (1,187) (11,644) (37,471) (130,007) (5,145) (2,311) (279,512) 173,909 (105,203) Operating profit (loss) (54,027) 5,966 (1,719) (22,971) (17,137) (13,920) (2,209) 18,689 3,814 18,589 199 (4,466) (11,644) (85,012) 599,331 49,896 (2,311) 481,068 (562,342) (81,274) Finance income − − − − 780 1 1,622 27 9 — 38 1,405 8,100 2,350 411 — 15,000 (12,589) 2,411 Finance costs (268) (913) (636) (390) (9,175) (1,484) (387) (4,690) (55) (2) (1) (175) (21,322) (36,699) (142,675) (2,532) — (221,404) 183,582 (37,822) Share in the results of associates and joint venture − − − − (253) — — 4,331 — — (67,018) — (28,861) — — — — (91,801) 82,284 (9,517) Net loss from currency exchange difference (72) 126 78 130 (404) (306) (808) (402) 65 (49) 91 (984) (1,576) 1,180 52,464 (1,267) — 48,266 (52,382) (4,116) Profit (loss) before income tax (54,367) 5,179 (2,277) (23,231) (26,712) (14,930) (3,403) 19,550 3,851 18,547 (66,729) (5,587) (61,998) (112,431) 511,470 46,508 (2,311) 231,129 (361,447) (130,318) Current income tax (60) (55) (16) (93) (1,483) (17) — (780) (1,475) (5,543) (177) (171) — (53,018) (236,926) (24,801) — (324,615) 314,691 (9,924) Deferred income tax − − − − (3,346) 235 — (9,388) 172 — — (347) (2,888) — — 1,079 — (14,483) (1,023) (15,506) Profit (loss) from continuing operations (54,427) 5,124 (2,293) (23,324) (31,541) (14,712) (3,403) 9,382 2,548 13,004 (66,906) (6,105) (64,886) (165,449) 274,544 22,786 (2,311) (107,969) (47,779) (155,748) Net profit (loss) from discontinued operations 5,409 Loss for the year (150,339) Total assets 145,287 47,855 45,999 329,384 720,150 134,562 425,731 357,830 15,932 6,813 362,419 90,337 2,343,010 2,313,438 7,767,459 418,966 64,539 15,589,711 (11,610,094) 3,979,617 Total liabilities 62,024 46,787 34,431 38,923 366,705 78,916 22,695 166,396 5,569 2,694 340 13,025 410,197 1,989,052 2,132,131 150,463 876 5,521,224 (4,341,464) 1,179,760 Other segment information Investment in associates and joint ventures − − − − 2,374 — — 94,117 — — 159,529 — 2,040,598 — — — — 2,296,618 (807,843) 1,488,775 Capital Expenditures 1,064 1,059 3,531 23,955 825 24,648 371 106 — — 4,611 933 — — — — 71,546 — 71,546 Changes in estimates of mine closures plans 11,745 5,042 771 1,186 2,437 9,569 808 — — — — — — — — — — 31,558 — 31,558 Fair value for contingent consideration liability — — — — — — — — — — — — (5,690) — — — — (5,690) — (5,690) Accounts receivable from sale of assets — — — — — — — — — — — — 8,233 — — — — 8,233 — 8,233 Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Results: Continuing operations Sales: Sale of goods 186,016 58,902 40,082 188,175 299,252 43,520 — — — — — 6,046 — 734,526 2,896,894 241,173 4,694,586 (3,872,656) 821,930 Sale of Services — — — — — — — 59,690 15,687 — 615 19,557 — 4,776 — — 100,325 (76,664) 23,661 Royalty income — — — — — — — — — 22,297 — — — — — — 22,297 — 22,297 Total operating income 186,016 58,902 40,082 188,175 299,252 43,520 — 59,690 15,687 22,297 615 25,603 — 739,302 2,896,894 241,173 4,817,208 (3,949,320) 867,888 Operating costs Cost of sales of goods, excluding depreciation and amortization (128,523) (54,739) (26,586) (76,827) (223,998) (39,693) — — — — — (8,517) — (692,721) (1,961,577) (187,156) (3,400,337) 288,743 (512,874) Cost of services, excluding depreciation and amortization — — — — — — — (22,209) — — — (6,167) — (1,160) — — (29,536) 26,158 (3,378) Depreciation and amortization (21,053) (7,563) (9,178) (83,657) (74,335) (9,103) — (10,075) — — — (11,979) — — — — (226,943) 608 (226,335) Exploration in operating units (8,917) (9,040) (5,864) (11,613) (8,727) (2) — — — — — — — — — — (44,163) — (44,163) Mining royalties (1,955) (5,220) (418) (1,857) (2,953) (429) — — — — — — — — — — (12,832) — (12,832) Total operating costs (160,448) (76,562) (42,046) (173,954) (310,013) (49,227) — (32,284) — — — (26,663) — (693,881) (1,961,577) (187,156) (3,713,811) 2,914,229 (799,582) Gross profit (loss) 25,568 (17,660) (1,964) 14,221 (10,761) (5,707) — 27,406 15,687 22,297 615 (1,060) — 45,421 935,317 54,017 1,103,397 (1,035,091) 68,306 Operating expenses, net Administrative expenses (16,115) (5,209) (3,561) (16,512) (8,865) (2,223) (2,416) (4,073) (11,607) (188) (363) (1,310) (4,894) (1,744) — (4,638) (83,718) 7,421 (76,297) Selling expenses (6,876) (258) (403) (3,940) (10,856) (321) — (1,115) — — — (1,324) − (1,722) (109,483) (1,163) (13,461) 113,148 (24,313) Exploration in non-operating areas (2,534) — — — (2,011) (2,784) (90) — — — — — (4,492) — — — (11,911) 32 (11,879) Reversal (provision) of contingent and others (183) 1 (148) 127 2,079 (98) (40) 166 — — — — 1,067 — — — 2,971 (3) 2,968 Impairment recovery (loss) of long-lived assets — — (2,083) — — — — — — — — — — — — — (2,083) — (2,083) Other, net (4,147) (8,104) (776) (3,767) (6,568) (1,119) (419) 13,813 — 135 79 341 (2,686) (35,987) (37,436) (5,667) (92,308) 77,593 (14,715) Total operating expenses, net (29,855) (13,570) (6,971) (24,092) (26,221) (6,545) (2,965) 8,791 (11,607) (53) (284) (2,293) (11,005) (39,453) (146,919) (11,468) (324,510) 198,191 (126,319) Operating profit (loss) (4,287) (31,230) (8,935) (9,871) (36,982) (12,252) (2,965) 36,197 4,080 22,244 331 (3,353) (11,005) 5,968 788,398 42,549 778,887 (836,900) (58,013) Finance income — — — — 417 2,006 14 263 15 30 10 277 7,751 18,430 10,356 549 40,118 (30,443) 9,675 Finance costs (532) (733) (1,002) (505) (11,440) (3,715) (561) (7,483) (89) (4) (6) (990) (16,249) (57,629) (115,877) (3,598) (220,413) 178,240 (42,173) Share in the results of associates and joint ventures — — — — (44) — — 10,374 — — (53,143) — 45,778 — — — 2,965 44,745 47,710 Net gain (loss) from currency exchange difference (124) 76 3 (12) (191) 14 (156) 62 (119) (9) (9) 208 (481) 2,902 5,574 277 8,015 (8,749) (734) Profit (loss) before income tax (4,943) (31,887) (9,934) (10,388) (48,240) (13,947) (3,668) 39,413 3,887 22,261 (52,817) (3,858) 25,794 (30,329) 688,451 39,777 609,572 (653,107) (43,535) Current income tax — — — — (25) (35) — (4,044) (1,223) (6,546) (39) — − (64,928) (298,074) (26,335) (401,249) 389,338 (11,911) Deferred income tax — — — — 15,410 (5,382) — (5,515) 91 — — 1,554 31,344 — — 15,017 52,519 (15,018) 37,501 Profit (loss) from continuing operations (4,943) (31,887) (9,934) (10,388) (32,855) (19,364) (3,668) 29,854 2,755 15,715 (52,856) (2,304) 57,138 (95,257) 390,377 28,459 260,842 (278,787) (17,945) Loss from discontinued operations (10,514) Loss for the year (28,459) Total assets 146,486 46,750 41,858 425,297 725,973 138,458 398,838 382,481 13,822 6,252 458,212 104,335 2,371,464 2,312,072 7,809,424 379,915 15,761,637 (11,654,363) 4,107,274 Total liabilities 42,265 36,945 35,045 34,142 329,869 68,100 23,223 183,426 6,007 2,286 101 20,918 407,153 1,853,644 2,450,101 125,097 5,618,322 (4,479,248) 1,139,074 Other segment information Investment in associates and joint ventures — — — — — — — 89,786 — — 232,154 — 2,073,745 — — — 2,395,685 (907,438) 1,488,247 Capital Expenditures 31,479 1,323 1,559 9,641 28,298 1,629 26,494 223 85 — — 1,443 453 — — — 102,627 — 102,627 Changes in estimates of mine closures plans 176 10,493 2,430 2,277 5,122 5,021 — — — — — — 1,203 — — — 26,722 — 26,722 Fair value for contingent consideration liability — — — — — — — — — — — — (655) — — — (655) — (655) Accounts receivable from sale of assets — — — — — — — 21,023 — — — — 625 — — — 21,648 — 21,648 Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2018 Results: Continuing operations Sales Sale of goods 257,282 153,003 34,104 225,281 333,560 96,611 — — — — — 6,655 — 658,653 3,061,930 225,447 5,052,526 (3,946,197) 1,106,329 Sale of Services — — — — — — — 62,962 14,986 — 615 19,908 — 21,965 — — 120,436 (96,435) 24,001 Royalty income — — — — — — — — — 20,385 — — — — — — 20,385 — 20,385 Total operating income 257,282 153,003 34,104 225,281 333,560 96,611 — 62,962 14,986 20,385 615 26,563 — 680,618 3,061,930 225,447 5,193,347 (4,042,632) 1,150,715 Operating costs Cost of sales of goods, excluding depreciation and amortization (151,817) (97,006) (26,558) (92,829) (216,560) (68,993) — — — — — (6,280) — (619,424) (2,018,876) (170,866) (3,469,209) 2,855,828 (613,381) Cost of services, excluding depreciation and amortization — — — — — — — (25,499) — — — (8,966) — (2,217) — — (36,682) 32,364 (4,318) Depreciation and amortization (26,181) (8,802) (3,353) (77,029) (67,666) (34,088) — (10,248) — — — (11,483) — — — — (238,850) (29) (238,879) Exploration in operating units (20,898) (29,563) (8,646) (20,553) (9,996) (74) — — — — — — — — — — (89,730) — (89,730) Mining royalties (2,243) (13,669) (237) (1,936) (2,345) (957) — — — — — — — — — — (21,387) (1) (21,388) Total operating costs (201,139) (149,040) (38,794) (192,347) (296,567) (104,112) — (35,747) — — — (26,729) — (621,641) (2,018,876) (170,866) (43,855,858) 2,888,162 (967,696) Gross profit (loss) 56,143 3,963 (4,690) 32,934 36,993 (7,501) — 27,215 14,986 20,385 615 (166) — 58,977 1,043,054 54,581 1,337,489 (1,154,470) 183,019 Operating expenses, net Administrative expenses (24,119) (15,100) (2,524) (17,822) (9,906) (3,435) (3,143) (3,972) (11,900) (220) (512) (1,627) 2,377 (2,783) — (5,644) (100,330) 23,231 (77,099) Selling expenses (8,213) (775) (356) (3,046) (12,201) (784) — (1,173) — — — (924) — (2,627) (137,008) (1,135) (168,242) 141,294 (26,948) Exploration in non-operating areas (18,339) — — — (7,199) (5,002) (2,883) — — — — — (4,091) — — — (37,514) 1,207 (36,307) Reversal (provision) of contingent and others 6,784 (121) 947 1,263 (3,711) (57) 6,130 (56) — — — 2 (111) — — — 11,070 178 11,248 Impairment recovery (loss) of long-lived assets — — — — — 5,693 — — — — — — — — — — 5,693 — 5,693 Other, net (5,953) (3,386) (1,050) (5,599) 32,565 (669) 138 562 — — 2,773 194 (2,235) (76,155) (68,683) (325) (127,823) 126,515 (1,308) Total operating expenses, net (49,840) (19,382) (2,983) (25,204) (452) (4,254) 242 (4,639) (11,900) (220) 2,261 (2,355) (4,060) (81,565) (205,691) (7,104) (417,146) 292,425 (124,721) Operating profit (loss) 6,303 (15,419) (7,673) 7,730 36,541 (11,755) 242 22,576 3,086 20,165 2,876 (2,521) (4,060) (22,588) 837,363 47,477 920,343 (862,045) 58,298 Finance income — — — — 418 1,649 — 179 — 21 8 127 9,293 11,448 28,089 357 51,589 (41,904) 9,685 Finance costs (308) (395) (95) (262) (10,365) (1,946) (222) (7,576) (2) (11) (25) (932) (17,194) (39,024) (426,733) (2,935) (508,025) 469,603 (38,422) Share in the results of associates and joint ventures — — — — — — — 8,589 — — (25,517) — 15,081 — — — (1,847) 703 (1,144) Net gain (loss) from currency exchange difference 196 168 8 209 108 (224) (846) (346) 19 18 2 (482) (206) (2,056) 6,161 (852) 1,877 (3,261) (1,384) Profit (loss) before income tax 6,191 (15,646) (7,760) 7,677 26,702 (12,276) (826) 23,422 3,103 20,193 (22,656) (3,808) 2,914 (52,220) 444,880 44,047 463,937 (436,904) 27,033 Current income tax (768) (559) (72) (656) (8,332) (24) — — — (6,025) (444) (2) — (30,368) (325,170) (23,405) (395,825) 378,943 (16,882) Deferred income tax — — — — (10,803) (1,220) — (7,584) — — — 106 9,514 1,071 — 4,942 (3,974) (6,023) (9,997) Profit (loss) from continuing operations 5,423 (16,205) (7,832) 7,021 7,567 (13,520) (826) 15,838 3,103 14,168 (23,100) (3,704) 12,428 (81,517) 119,710 25,584 64,138 (63,984) 154 Loss from discontinued operations (11,808) Loss for the year (11,654) Total assets 126,374 39,725 39,537 461,335 773,554 158,718 372,344 366,354 12,154 7,154 520,484 106,391 2,421,547 2,047,472 7,554,712 361,669 15,369,524 (11,152,303) 4,217,221 Total liabilities 45,227 30,749 29,469 28,502 340,735 68,615 18,986 197,152 4,597 2,653 603 20,671 425,893 1,463,749 2,445,840 125,307 5,248,748 (4,061,092) 1,187,656 Other segment information Investment in associates and joint ventures — — — — — — — — — — — — 1,473,382 — — — 1,473,382 — 1,473,382 Capital Expenditures 18,429 6,225 2,984 18,858 29,572 13,159 17,141 118 — — — 1,816 2,968 — — — 111,270 — 111,270 Changes in estimates of mine closures plans 4,101 1,003 16,484 (447) 19,926 (6,915) 9,063 — — — — — (341) — — — 42,874 — 42,874 Fair value for contingent consideration liability — — — — — — 1,815 — — — — — — — — — 1,815 — 1,815 Accounts receivable from sale of assets — — — — — — — — — — 1,622 — 1,093 — — — 2,715 — 2,715 Reconciliation of segment profit (loss) The reconciliation of segment profit (loss) to the consolidated profit (loss) from continued operations follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments profit (loss) (107,969) 260,842 64,138 Elimination of profit of equity accounted investees, not consolidated (owned by third parties) (129,570) (323,578) (63,777) Elimination of intercompany sales (89,006) (71,951) (74,637) Elimination of cost of sales and operating expenses intercompany 89,593 71,697 76,780 Elimination of share in the results of subsidiaries and associates 82,284 44,745 1,582 Others (1,080) 300 (3,932) Consolidated profit (loss) from continued operations (155,748) (17,945) 154 Reconciliation of segment assets The reconciliation of segment assets to the consolidated assets follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments assets 15,589,711 15,761,637 15,369,524 Elimination of assets of equity accounted investees, not consolidated (owned by third parties) (10,564,402) (10,501,411) (9,963,853) Elimination of the subsidiaries and associates of the Parent company (1,005,368) (1,111,454) (1,184,240) Elimination of intercompany receivables (57,810) (64,708) (32,444) Others 17,486 23,210 28,234 Consolidated assets 3,979,617 4,107,274 4,217,221 Reconciliation of segment liabilities The reconciliation of segment liabilities to the consolidated liabilities follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments liabilities 5,521,224 5,618,322 5,248,748 Elimination of liabilities of equity accounted investees, not consolidated (4,272,522) (4,428,842) (4,034,896) Elimination of intercompany payables (68,961) (50,395) (27,822) Others 19 (11) 1,626 Consolidated liabilities 1,179,760 1,139,074 1,187,656 Disaggregated revenue information Set out below is the disaggregation of the Group’s revenue from contracts with customers: Rental of Holding of Total Adjustments Ucchuchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja Energy generation Insurance mining investment Industrial operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) and transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Revenues by type of customers: Sales by customers - External 91,007 77,907 31,663 143,233 251,974 2,554 — — — — 36,336 634,674 — 634,674 Inter-segment — — — — (160) 30,470 — — — — — 30,310 (30,310) — 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - External — — — — — — 5,532 14,753 — — — 20,285 — 20,285 Inter-segment — — — — — — 42,722 — — 607 15,335 58,664 (58,664) — — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties - External — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Revenues by geographic region: Metal and concentrates sales - Peru 77,077 7,097 3,238 81,058 216,481 32,886 — — — — 2,327 420,164 (30,310) 389,854 America-other than Peru — 70,810 — 60,273 — 138 — — — — 32,279 163,500 — 163,500 Europa 11,503 — 28,425 552 — — — — — — 1,730 42,210 — 42,210 Asia 2,427 — — 1,350 35,333 — — — — — — 39,110 — 39,110 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - Peru — — — — — — 48,254 14,641 — 607 15,335 78,837 (58,664) 20,173 America-other than Peru — — — — — — — 92 — — — 92 — 92 Europa — — — — — — — 20 — — — 20 — 20 — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties - Peru — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Revenues by type of good or services: Sales by metal - Silver 97,903 185 33,631 32,766 63,312 2,241 — — — — 2,337 232,375 (1,877) 230,498 Gold 14 77,964 14 105,359 13,667 32,672 — — — — 30,023 259,713 (30,123) 229,590 Copper — — 48 — 181,007 — — — — — — 181,055 256 181,311 Zinc 8,356 — — 9,513 102,677 — — — — — — 120,546 — 120,546 Lead 6,760 — 529 10,688 30,449 — — — — — — 48,426 — 48,426 Manganese sulfate — — — — — — — — — — 4,051 4,051 — 4,051 113,033 78,149 34,222 158,326 391,112 34,913 — — — — 36,411 846,166 (31,744) 814,422 Commercial deductions (22,026) (242) (2,559) (15,093) (139,298) (1,889) — — — — (75) (181,182) 1,434 (179,748) 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties income - — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Rental of Holding of Total Adjustments Ucchuchacua Tambomayo Orcopampa Julcani Colquijirca La Zanja Energy generation Insurance mining investment Industrial operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) and transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Revenues by type of customers: Sales by customers - External 184,982 186,668 58,796 39,639 294,842 43,894 — — — — 6,046 814,867 — 814,867 Inter-segment — — — — 62 — — — — — — 62 (62) — 184,982 186,668 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - External — — — — — — 7,974 15,687 — — — 23,661 — 23,661 Inter-segment — — — — — — 51,716 — — 615 19,557 71,888 (71,888) — — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties - External — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Revenues by geographic region: Metal and concentrates sales - Peru 143,512 79,631 4,833 10,451 236,844 683 — — — — 1,086 477,040 (62) 476,978 America - other than Peru — 79,537 53,963 — — 37,326 — — — — 943 171,769 — 171,769 Europe 27,848 135 — 22,590 — 5,885 — — — — 4,017 60,475 — 60,475 Asia 13,622 27,365 — 6,598 58,060 — — — — — — 105,645 — 105,645 184,982 186,668 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - Peru — — — — — — 59,690 15,527 — 615 19,557 95,389 (71,888) 23,501 America - other than Peru — — — — — — — 130 — — — 130 — 130 Europe — — — — — — — 30 — — — 30 — 30 — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties - Peru — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Revenues by type of good or services: Sales by metal - Gold — 134,387 58,737 278 18,104 42,698 — — — — — 254,204 (10) 254,194 Silver 159,713 38,112 263 40,889 57,903 1,300 — — — — — 298,180 (9) 298,171 Copper — — — 79 238,327 — — — — — — 238,406 (102) 238,304 Zinc 38,143 19,867 — — 91,307 — — — — — — 149,317 — 149,317 Lead 29,735 14,016 — 1,627 43,763 — — — — — — 89,141 — 89,141 Manganese sulfate — — — — — — — — — — 6,046 6,046 — 6,046 227,591 206,382 59,000 42,873 449,404 43,998 — — — — 6,046 1,035,294 (121) 1,035,173 Commercial deductions (42,609) (19,714) (203) (3,234) (154,500) (104) — — — — — (220,365) 59 (220,306) 184,982 186,664 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties income - — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Energy Rental of Holding of Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja generation and Insurance mining investment Industrial Total operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2018 Revenues by type of customers: Sales by customers - External 257,840 225,339 153,240 33,864 339,414 96,600 — — — — 6,655 1,112,952 — 1,112,952 Inter-segment — — — — 167 — — — — — — 167 (167) — 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - External — — — — — — 9,015 14,986 — — — 24,001 — 24,001 Inter-segment — — — — — — 53,947 — — 615 19,909 74,471 (74,471) — — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties - External — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338 Revenues by geographic region: Metal and concentrates sales - Peru 170,986 63,049 10,808 15,261 257,559 2,770 — — — — 751 521,184 (167) 521,017 America - other than Peru — 159,530 142,432 — — 67,756 — — — — 906 370,624 — 370,624 Europe 57,472 2,760 — 9,488 — 26,074 — — — — 4,998 100,792 — 100,792 Asia 29,382 — — 9,115 82,022 — — — — — — 120,519 — 120,519 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - Peru — — — — — — 62,962 14,787 — 615 19,909 98,273 (74,561) 23,712 America - other than Peru — — — — — — — 199 — — — 199 90 289 — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties - Peru — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338 Revenues by type of good or services: Sales by metal - Gold 11 150,939 149,092 28 18,463 93,358 — — — — — 411,891 (14) 411,877 Silver 217,843 54,109 5,243 35,307 46,060 3,583 — — — — — 362,145 (23) 362,122 Copper — — (221) 129 275,119 — — — — — — 275,027 (266) 274,761 Zinc 45,194 18,197 — — 101,275 — — — — — — 164,666 — 164,666 Lead 36,238 6,703 — 1,996 40,618 — — — — — — 85,555 — 85,555 Manganese sulfate — — — — — — — — — — 6,655 6,655 — 6,655 299,286 229,948 154,114 37,460 481,535 96,941 — — — — 6,655 1,305,939 (303) 1,305,636 Commercial deductions (41,446) (4,609) (874) (3,596) (141,954) (341) — — — — — (192,820) 136 (192,684) 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties income - — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338

Derivative financial instrument

Derivative financial instruments	12 Months Ended
	Dec. 31, 2020
Disclosure Of Embedded derivatives [Line Items]
Derivative financial instruments	32. Derivative financial instruments – This caption is made up as follows: 2020 2019 US$(000) US$(000) Copper prices hedge (a) (15,804) — Interest rate hedge (b) (2,635) — (18,439) — (a) The volatility of copper prices during the last years has caused the Management of the subsidiary El Brocal to enter into future contracts. These contracts are intended to reduce the volatility of the cash flows attributable to the fluctuations in the copper and zinc price in accordance with existing copper concentrate sales commitments, which are related to 50 percent of the annual production of copper and 25 percent of the production of two years of zinc, according to the risk strategy approved by the Board of Directors. During 2020, 2019 and 2018, the effect in profit or loss was a loss of US$6,464,000, gain of US$4,322,000 and loss of US$1,398,000, respectively, and it is show in the “Sales of goods” caption, see note 20(b). As of December 31, 2019, there are not any hedge contract. The table below presents the composition of open transactions included in the hedge derivative financial instruments as of December 31, 2020: Quotations Quotation period Concentrate Metric tone Fixed Futures Fair value US$/DMT US$/ DMT US$(000) January 2021 Copper 1,250 6,500 7,758 (1,572) February 2021 Copper 1,250 6,500 7,762 (1,577) March 2021 Copper 2,250 6,633 7,767 (2,549) April 2021 Copper 2,000 6,750 7,769 (2,036) May 2021 Copper 3,000 6,897 7,769 (2,615) June 2021 Copper 3,000 6,967 7,770 (2,408) July 2021 Copper 2,000 7,025 7,768 (1,483) August 2021 Copper 2,000 7,100 7,765 (1,327) September 2021 Copper 2,000 7,500 7,762 (523) October 2021 Copper 2,000 7,900 7,757 286 20,750 (15,804) The variation in the fair value of the caption generated an expense US$18.4 million, an expense of US$2.8 million and an income of US$31.5 million in the years 2020, 2019 and 2018, which are included within the consolidated statement of other comprehensive income and in the ”Other reserves of equity”. (b) In order to reduce the exposure to the risk of the variation of the interest rate related to its financial obligations, on April 2, 2020, the Company's Management decided to sign future contracts in relation to the LIBOR of three months with the banks BBVA Banco Continental, Banco de Credito del Peru, Banco Internacional del Peru and Itaú, which are recorded under cash flow accounting. There is an economic relationship between the hedged assets and the hedging instruments as the terms of the futures contracts are the same as the terms of the highly probable future transactions. The Company has established a hedging ratio of 1: 1 for hedging relationships as the underlying risk of interest rate futures contracts are identical to the hedged risk components. In order to evaluate the effectiveness of the hedges, the Company uses the hypothetical derivative method, by which it compares the changes in the fair value of the hedging instruments against the changes in the fair value of the hedged items attributed to the hedged risks. As of December 31, 2020, the effect on results was a loss of US$146,000, and is presented in the caption of “Financial costs and financial income” see note 27(a). The following is the composition of the operations to be settled that are part of the liability for hedging derivative instrument as of December 31, 2020: LIBOR of three months Maturity Amount Fixed Futures Fair value US$(000) US$(000) October 2022 81,666 2.632 % 2.06% - 2.14 % (785) October 2022 74,167 2.632 % 2.06% - 2.14 % (712) October 2022 74,167 0.732 % 0.16% - 0.24 % (706) July 2022 45,000 2.632 % 2.06% - 2.14 % (432) 275,000 (2,635)
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Embedded derivatives [Line Items]
Derivative financial instruments	21. Embedded derivatives As discussed in Note 2(d), the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2020 and 2019, information about the Company’s embedded derivatives is as follows: As of December 31, 2020 Pounds payable Maturity Provisional pricing Forward pricing Fair value provision (000) US$/Pound US$/Pound US$(000) Copper Concentrate 267,872 January 2021 to May 2021 Between 2.908 and 3.545 Between 3.519 and 3.524 98,424 Copper Cathode 3,964 January 2021 Between 3.535 and 3.612 3.519 (235) Molybdenum 3,382 January 2021 to February 2021 Between 7.360 and 7.884 8.658 3,245 101,434 (a) As of December 31, 2019 Pounds payable Maturity Provisional pricing Forward pricing Fair value provision (000) US$/Pound US$/Pound US$(000) Copper Concentrate 246,441 January 2020 to May 2020 Between 2.567 and 2.774 Between 2.793 and 2.804 39,727 Copper Cathode 4,410 January 2020 2.791 2.793 9 Molybdenum 5,370 January 2020 to February 2020 Between 7.857 and 9.724 8.025 (3,031) 36,705 (a) (a) Embedded derivatives are recorded on the statement of financial position in “Trade account receivable – related parties” (US$101.4 million as of December 31, 2020, and US$36.1 million as of December 31, 2019) and “Trade accounts receivable (net)” (US$0.6 million as of December 31, 2019).

Financial - risk management obj

Financial - risk management objectives and policies	12 Months Ended
	Dec. 31, 2020
Disclosure of financial risk management objectives and policies [Line Items]
Financial - risk management objectives and policies	33. Financial - risk management objectives and policies The Group’s principal financial liabilities, other than derivatives, comprise of trade accounts and other payables, and financial obligations. The main purpose of these financial instruments is to finance the Group’s operations. The Group’s principal financial assets include cash and cash equivalents and trade and other receivables that derive directly from its operations. The Group is exposed to market risk, credit risk and liquidity risk. The Group’s Management oversees the management of these risks. A committee that advises on financial risks supports it. This committee provides assurance to management that the Group’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Group’s policies and risk objectives. All derivative activities for risk management purpose are carried out by internal specialists that have the appropriate skills, experience and supervision. There were no changes in the objectives, policies or processes during the years ended December 31, 2020, 2019 and 2018. The Board of Directors reviews and agrees policies for managing each of these risks, which are described below: (a) Market risk is the risk that the fair value of the future cash flows from financial instruments will fluctuate because of changes in market prices. Market risks that apply to the Group comprise four types of risk: exchange rate risk, commodity risk, interest rate risk and other risk of price, such as the risk of the stock price. Financial instruments affected by market risks include time deposits, financial obligations, embedded derivatives and derivative financial instruments. The sensitivity analyses in this section relate to the positions as of December 31, 2020 and 2019 and have been prepared considering that the proportion of financial instruments in foreign currency are constant. (a.1) Exchange rate risk The exchange rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange relates primarily to the Group´s operating activities in soles. The Group mitigates the effect of exposure to exchange-rate risk by carrying out almost all of its transactions in its functional currency. Excluding loans in soles, Management maintains smaller amounts in soles in order to cover its needs in this currency (primarily taxes). A table showing the effect on results of a reasonable change in foreign-currency exchange rates is presented below, with all other variables kept constant: Exchange-rate Effect on profit (loss) increase/decrease before income tax US$(000) 2020 Exchange rate 10 % 9,282 Exchange rate (10) % (9,282) 2019 Exchange rate 10 % 4,053 Exchange rate (10) % (3,545) 2018 Exchange rate 10 % 1,695 Exchange rate (10) % (1,681) (a.2) Commodity price risk The Group is affected by the price volatility of the commodities. The price of mineral sold by the Group has fluctuated historically and affected by numerous factors beyond its control. The Group manages its commodity price risk primarily using sales commitments in customer contracts and hedge contracts for the metals sold by the subsidiary El Brocal. The subsidiary El Brocal entered into derivative contracts that qualified as cash flow hedges, with the intention of covering the risk resulting from the fall in the prices of the metals. These derivative contracts are recorded as assets or liabilities in the consolidated statements of financial position and are stated at fair value. To the extent that these hedges were effective in offsetting future cash flows from the sale of the related production, changes in fair value are deferred in an equity account under “Other reserves of equity”. The deferred amounts were reclassified to the “sales of goods” when the production was sold. See note 33(a) and note 20(b). (a.3) Interest rate risk - Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s exposure to the risk of changes’ in market interest rates relates to the Groups’ long-term financial obligations with floating interest rates. A table showing the effect in profit or loss of the variations of interest rates: Effect on profit Increase/decrease of (loss) before LIBOR income tax (percentage rates) US$(000) 2020 Interest rate 10 % (81) Interest rate (10) % 81 2019 Interest rate 10 % (306) Interest rate (10) % 306 2018 Interest rate 10 % (277) Interest rate (10) % 277 (b) Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivable) and from its financing activities, including deposits with banks and other financial instruments. The Group invests the excess cash in financial leading institutions, sets conservative credit policies and constantly evaluates the market conditions in which it operates. Trade accounts receivable are denominated in U.S. dollars. The Group’s sales are made to domestic and foreign customers. See concentration of spot sales in note 20(b). An impairment analysis is performed on an individual basis. Credit risk is limited to the carrying amount of the financial assets to the date of consolidated statements of financial position, which is composed, by cash and cash equivalents, trade and other receivables and derivative financial instruments. Set out below is the information about the credit risk exposure on the Group's trade and other receivables: Days past due Current < 30 days 30 – 90 days > 90 days Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 - Trade receivables 159,840 — — 22,128 181,968 Other receivables 172,116 — 1,221 9,717 183,054 331,956 — 1,221 31,845 365,022 Expected credit loss rate 0 % 0 % 0 % 100 % — Expected credit loss — — — (31,845) (31,845) As of December 31, 2019 - Trade receivables 204,096 — — 22,016 226,112 Other receivables 125,409 42,390 4,332 10,006 182,137 329,505 42,390 4,332 32,022 408,249 Expected credit loss rate 0 % 0 % 0 % 100 % — Expected credit loss — — — (32,022) (32,022) (c) Prudent management of liquidity risk implies maintaining sufficient cash and cash equivalents and the possibility of committing or having financing committed through an adequate number of credit sources. The Group believes that maintains suitable levels of cash and cash equivalents and has sufficient credit capacity to get access to lines of credit in leading financial entities. The Group continually monitors its liquidity risk based on cash flow projections. An analysis of the Group’s financial liabilities classified according to their aging is presented below, based on undiscounted contractual payments: Less than Between 1 Between 2 More than 5 1 year and 2 years and 5 years years Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020- Bank loans – capital 65,793 — — — 65,793 Bank loans – interest 1,156 — — — 1,156 Trade and other payables 167,852 — — — 167,852 Financial obligation – capital 21,587 175,932 324,815 6,071 528,405 Financial obligation – interest 14,868 13,289 14,911 203 43,271 Lease – capital 3,609 2,010 2,220 — 7,839 Lease – interest 74 143 145 — 362 Hedge derivative financial instruments 15,804 2,635 — — 18,439 Contingent consideration liability — — 9,924 36,746 46,670 Total As of December 31, 2019 - Bank loans – capital 55,000 — — — 55,000 Bank loans – interest 486 — — — 486 Trade and other payables 152,070 616 — — 152,686 Financial obligation – capital 262,088 131,588 125,154 48,568 567,398 Financial obligation – interest 22,597 11,225 11,880 1,449 47,151 Lease – capital 3,692 1,514 2,297 — 7,503 Lease – interest 73 143 404 — 620 Contingent consideration liability — — 4,905 35,166 40,071 Total 496,006 145,086 144,640 85,183 870,915 (d) For purposes of the Group’s capital management, capital is based on all equity accounts. The objective of capital management is to maximize shareholder value. The Group manages its capital structure and makes adjustments to meet the changing economic market conditions. The Group’s policy is to fund all projects of short and long term with their own operating resources. To maintain or adjust the capital structure, the Group may change the policy of paying dividends to shareholders, return capital to shareholders or issue new shares. The Group monitors capital using a consolidated net worth minimum. As required by the Company's covenants of the Syndicated term Loan of US$2,711,389. No changes were made in the objectives, policies or processes for managing capital during the years 2020 and 2019
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of financial risk management objectives and policies [Line Items]
Financial - risk management objectives and policies	90 days Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 Trade receivables — 21,274 2,797 4,971 29,042 Expected credit loss rate — % — % — % 27.84 % 4.77 % Expected credit loss — — — (1,384) (1,384) Total — 21,274 2,797 3,587 27,658 As of December 31, 2019 Trade receivables — 5,047 7,976 3,377 16,400 Expected credit loss rate — % — % — % 40.98 % 8.44 % Expected credit loss — — — (1,384) (1,384) Total — 5,047 7,976 1,993 15,016 (c) Management administrates its exposure to liquidity risk through financing from internal operations, Company’s partners and maintaining good relationships with local and foreign banks in order to maintain adequate levels of credit available. The Company currently has no existing bank lines of credit. The following table represents the analysis of the Company’s financial liabilities, considering the remaining period to reach such maturity as of the consolidated statement of financial position date (see notes 11 and 12): 2020 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 44,977 — — 44,977 Debt instruments — — 45,423 45,423 Trade accounts payable - Related parties 12,374 — — 12,374 Leases liabilities 290 40 — 330 57,641 40 45,423 103,104 2019 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 45,671 — — 45,671 Debt instruments — — 43,927 43,927 Trade accounts payable - Related parties 11,426 — — 11,426 Leases liabilities 291 305 — 596 57,388 305 43,927 101,620 (d) The Company’s objectives for managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide expected returns for partners and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Company manages its capital structure and makes adjustments to meet the changing economic market conditions. The Company's policy is to fund all projects of short and long term with their own operating resources. To maintain or adjust the capital structure, the Company may change the policy of paying dividends to shareholders, return capital to shareholders or issue new shares. No formal dividend policy exists. The financial position of the Company is as follows: 2020 2019 US$(000) US$(000) Debt and accounts payables 226,333 188,896 Leasing 330 596 Less cash and short-term deposits (870,929) (818,503) Net debt (644,266) (629,011) Total liquidity 870,929 818,503 (e) Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assets that are measured at fair value on a recurring basis (at least annually) correspond to the San José Reservoir Trust assets and the accounts receivable from the sales of copper and silver concentrate subject to provisional pricing. The Company’s San José Reservoir Trust assets are made up of marketable equity and debt securities that are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. There were no transfers between Level 1and Level 2 during 2019. The Company’s impairment model uses valuation techniques to determine the WACC. These valuation techniques maximize the use of observable market data where it is available and rely as little as possible on entity specific estimates as such is classified within Level 2 of the fair value hierarchy. Carrying value versus fair value Set out below is a comparison of the carrying amount and fair value of the Company’s financial instruments, other than those which carrying amounts are reasonable approximation of fair value: Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial assets: Trade and other receivables, net 27,658 15,016 27,658 15,016 Restricted cash 48,752 48,617 49,042 50,353 Financial assets at fair value 21,676 23,648 21,676 23,648 98,086 87,281 98,376 89,017 Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial liabilities: Debt instrument 45,423 43,927 47,479 45,633 45,423 43,927 47,479 45,633 Management assessed that the fair values of cash and short-term deposits, trade receivables, trade payables and other current liabilities approximate their carrying amounts largely due to short-term maturities of these instruments. Trade receivables subject to provisional pricing are already carried at fair value." id="sjs-B7">25. Financial - risk management objectives and policies The Company’s operations are exposed to certain financial risks: some market risks (foreign exchange risk, interest rate risk and price risk, credit risk and liquidity risk). The Company’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Company’s financial performance. The most important aspects in risk management are the following: (a) (i) Foreign exchange risk exposure arises from exchange rate fluctuations of balances denominated in different currencies than the U.S. dollar. Since transactions and balances denominated in foreign currency are not significant, the current exchange rate risk exposure is limited. Management has decided to assume the exchange risk exposure with the results of the Company’s operations; therefore it has not engaged in hedging activities. (ii) The Company does not maintain significant interest-bearing assets or liabilities; therefore, net income (loss) and cash flows of the Company are substantially independent from the changes in market interest rates. (iv) The Company's financial instruments exposed to price risk are limited to its trade accounts receivable (exposed to gold price) and its available-for-sale financial assets, none of which show a material balance at the end of year, therefore no significant impact on the consolidated financial statements has arisen due to changes in their price that would need to be disclosed. (b) The Company evaluates the concentration of risk with respect to trade receivables as low, as its customers are located in Canada and operate in largely independent markets. The Company's products (refined gold dore) are negotiated in international markets being subject to the global demand, as a result it does not concentrate risks related to limited number of clients. The Company counts with counterparties with high credit-rating, and have not had any significant default event arising from risk concentration. Credit risk is managed on a group basis by Newmont according to its policies. Financial instruments exposed to credit risk are cash and cash equivalents, investments in debt and equity instruments, trade accounts receivable and other accounts receivable. For banks and financial institutions, only independently rated parties with a minimum "A" rating are accepted. Regarding trade accounts receivable, according to the practice in the latest years, collections have generally been in full. A credit review of the portfolio is performed quarterly to determine any deterioration in credit quality. The Company does not foresee any significant losses that may arise from this risk. Set out below is the information about the credit risk exposure on the Company’s trade and other receivables: Days past due Current < 30 days 30 – 90 days > 90 days Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 Trade receivables — 21,274 2,797 4,971 29,042 Expected credit loss rate — % — % — % 27.84 % 4.77 % Expected credit loss — — — (1,384) (1,384) Total — 21,274 2,797 3,587 27,658 As of December 31, 2019 Trade receivables — 5,047 7,976 3,377 16,400 Expected credit loss rate — % — % — % 40.98 % 8.44 % Expected credit loss — — — (1,384) (1,384) Total — 5,047 7,976 1,993 15,016 (c) Management administrates its exposure to liquidity risk through financing from internal operations, Company’s partners and maintaining good relationships with local and foreign banks in order to maintain adequate levels of credit available. The Company currently has no existing bank lines of credit. The following table represents the analysis of the Company’s financial liabilities, considering the remaining period to reach such maturity as of the consolidated statement of financial position date (see notes 11 and 12): 2020 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 44,977 — — 44,977 Debt instruments — — 45,423 45,423 Trade accounts payable - Related parties 12,374 — — 12,374 Leases liabilities 290 40 — 330 57,641 40 45,423 103,104 2019 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 45,671 — — 45,671 Debt instruments — — 43,927 43,927 Trade accounts payable - Related parties 11,426 — — 11,426 Leases liabilities 291 305 — 596 57,388 305 43,927 101,620 (d) The Company’s objectives for managing capital are to safeguard the Company’s ability to continue as a going concern in order to provide expected returns for partners and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Company manages its capital structure and makes adjustments to meet the changing economic market conditions. The Company's policy is to fund all projects of short and long term with their own operating resources. To maintain or adjust the capital structure, the Company may change the policy of paying dividends to shareholders, return capital to shareholders or issue new shares. No formal dividend policy exists. The financial position of the Company is as follows: 2020 2019 US$(000) US$(000) Debt and accounts payables 226,333 188,896 Leasing 330 596 Less cash and short-term deposits (870,929) (818,503) Net debt (644,266) (629,011) Total liquidity 870,929 818,503 (e) Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assets that are measured at fair value on a recurring basis (at least annually) correspond to the San José Reservoir Trust assets and the accounts receivable from the sales of copper and silver concentrate subject to provisional pricing. The Company’s San José Reservoir Trust assets are made up of marketable equity and debt securities that are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities is calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. There were no transfers between Level 1and Level 2 during 2019. The Company’s impairment model uses valuation techniques to determine the WACC. These valuation techniques maximize the use of observable market data where it is available and rely as little as possible on entity specific estimates as such is classified within Level 2 of the fair value hierarchy. Carrying value versus fair value Set out below is a comparison of the carrying amount and fair value of the Company’s financial instruments, other than those which carrying amounts are reasonable approximation of fair value: Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial assets: Trade and other receivables, net 27,658 15,016 27,658 15,016 Restricted cash 48,752 48,617 49,042 50,353 Financial assets at fair value 21,676 23,648 21,676 23,648 98,086 87,281 98,376 89,017 Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial liabilities: Debt instrument 45,423 43,927 47,479 45,633 45,423 43,927 47,479 45,633 Management assessed that the fair values of cash and short-term deposits, trade receivables, trade payables and other current liabilities approximate their carrying amounts largely due to short-term maturities of these instruments. Trade receivables subject to provisional pricing are already carried at fair value.
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of financial risk management objectives and policies [Line Items]
Financial - risk management objectives and policies	20. Financial risk management The Company’s activities are exposed to different financial risks. The main risks that could adversely affect the Company’s financial assets and liabilities or future cash flows are: (i) the risk arising from changes in market prices of minerals, (ii) liquidity risk, (iii) credit risk and (iv) capital risk. The Company’s financial risk management program focuses on mitigating potential adverse effects on its financial performance. Management knows the conditions prevailing in the market and based on its knowledge and experience, manages the risks that are summarized below. The Company’s Board of Directors reviews and approves the policies to manage each of these risks: (a) Commodity price risk - The international price of copper has a significant impact on the Company’s operating results. The price of copper has fluctuated historically and is affected by numerous factors beyond the Company’s control. The Company does not hedge its exposure to price fluctuation. As described in Note 2(d), the Company has price risk through its provisionally priced sales contracts, which provide final pricing in a specified future month (generally between three and six months after the shipment's arrival date) based primarily on quoted LME monthly average prices. The Company records revenues and invoices customers at the time of shipment based on then-current LME prices, which results in an embedded derivative on the provisionally priced contract that is adjusted to fair value through revenues each period, using the period-end forward prices, until the date of final pricing. To the extent that final prices are higher or lower than what was recorded on a provisional basis, an increase or decrease to revenues is recorded each reporting period until the date of final pricing (see Note 21). The table below summarizes the estimated impact on the Company’s profit before income tax for the year 2020, 2019 and 2018 based on a 10% increase or decrease in future copper price while all other variables are held constant. The 10% increase is based on Effect on profit before income tax US$(000) December 31, 2020 10% increase in future copper prices 112,080 10% decrease in future copper prices (112,080) Effect on profit before income tax US$(000) December 31, 2019 10% increase in future copper prices 99,219 10% decrease in future copper prices (99,219) Effect on profit before income tax US$(000) December 31, 2018 10% increase in future copper prices 72,847 10% decrease in future copper prices (72,847) Exchange rate risk - As described in Note 2(c), the Company’s financial statements are presented in US dollars, which is the functional and presentation currency of the Company. The Company’s exchange-rate risk arises mainly from balances related to tax payments, deposits and other accounts payable in currencies other than the US dollar, principally soles. The Company mitigates its exposure to exchange-rate risk by carrying out almost all of its transactions in its functional currency and management maintains only small amounts in soles to cover its immediate needs (i.e., taxes and compensation) in this currency. (b) Liquidity risk arises from situations in which cash might not be available to pay obligations at their maturity date and at a reasonable cost. The Company maintains adequate liquidity by properly managing the maturities of assets and liabilities in such a way that allows the Company to maintain a structural liquidity position (cash available) enabling it to meet liquidity requirements. Additionally, the Company has the ability to obtain funds from financial institutions and shareholders to meet its contractual obligations. The following tables show the expected aging of maturity of the Company’s obligations, excluding taxes, accruals and benefits to employees, as of December 31, 2020 and 2019: On demand Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 Trade accounts payable — 197,855 9,770 — — 207,625 Accounts payable - related parties — 3,446 — — — 3,446 Other financial liabilities — 1,551 8,672 560,750 31,695 602,668 Other accounts payable — 57,637 68,828 285,392 — 411,857 Total — 260,489 87,270 846,142 31,695 1,225,596 As of December 31, 2019 Trade accounts payable — 245,463 7,402 — — 252,865 Accounts payable - related parties — 4,014 — — — 4,014 Other financial liabilities — 3 8,852 825,877 76,943 911,675 Other accounts payable — 40,357 59,023 90,019 289,705 479,104 Total — 289,837 75,277 915,896 366,648 1,647,658 (c) The Company’s exposure to credit risk arises from a customer’s inability to pay amounts in full when they are due and the failure of third parties in cash and cash equivalent transactions. The risk is limited to balances deposited in banks and financial institutions and for trade accounts receivable at the date of the statements of financial position (the Company sells copper concentrate and cathode and molybdenum concentrate to companies widely recognized in the worldwide mining sector and collections are made within 30 days after the fulfilment of the contractual terms). To manage this risk, the Company has established a treasury policy, which only allows the deposit of surplus funds in highly rated institutions, by establishing conservative credit policies and through a constant evaluation of market conditions. Consequently, the Company does not expect to incur losses on accounts involving potential credit risk. (d) The objective is to safeguard the Company’s ability to continue as a going concern in order to provide returns for shareholders, benefits for stakeholders and maintain an optimal structure that would reduce the cost of capital. The Company manages its capital structure, and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Company controls dividend payments to shareholders, the return of capital to shareholders and the issuance of new shares. No changes were made to the objectives, policies or processes during the year ended December 31, 2020.

Selling Expenses

Selling Expenses	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Selling Expenses [Line Items]
Selling Expenses	21. Selling expenses This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Selling expenses 1,412 1,719 1,551 Other 510 3 1,076 1,922 1,722 2,627
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Selling Expenses [Line Items]
Selling Expenses	16. Selling Expenses This item is made up of as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Copper concentrate freight 89,241 98,933 126,670 Commissions 4,935 5,588 6,048 Cathode freight 2,019 1,890 1,831 Other 1,485 3,072 2,459 97,680 109,483 137,008

Other operating expenses

Other operating expenses	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Other operational expenses [Line Items]
Other operating expenses	19. Operating expenses, net This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Exploration and advanced projects 19,279 33,669 62,643 Severance program 4,454 2,210 8,678 Social responsibility commitments 6,730 250 — Write-off of fixed assets 460 1,204 — Cost of sales from the sale of fixed assets 30 2,092 5,445 Tax fine 11 2,019 3,954 Revenue from sale of fixed assets (40) (8,088) (4,821) Others, net 3,398 2,631 256 34,322 35,987 76,155
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Other operational expenses [Line Items]
Other operating expenses	17. Other operating expenses This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Excess of salaries limit in workers profit sharing (a) 17,146 — — Royalty non-income tax (b) 10,780 — — Optimization and prefeasibility/feasibility studies (c) 8,429 450 Other expenses 1,425 2,434 Tax contingencies 704 6,119 10,711 Fines and penalties (d) — 14,183 — Royalties, ITAN and penalties (e) — — 55,088 38,484 38,116 68,683 (a) Corresponds to the excess of salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO), and it’s related to adjustments of previous years income tax assessments (recognized in 2020 primarily as a result of the international arbitration proceeding initiated by the Company (See Note 13(d)). (b) Represents current year mining royalties calculated based on revenues according to applicable tax rules (see Note 13(d)). (c) Represents charges related to projects for the optimization of the Company’s operating processes. (d) For the year ended December 31, 2019, primarily represents land right penalties with INGEMMET (US$6.8 million), SUNAT penalties related to 2012 income tax audit (US$4.7 million) and OSINERGMIN fine (US$2.7 million), which in September 2020, was declared closed and archived in favor of the Company. (e) For the year ended December 31, 2018, primarily represents penalties for income tax related to disputed mining royalties for the year 2006 through the year 2011 of US$33.8 million, penalties on disputed mining royalties for the period January 2009 through December 2013 of US$17.7 million and profit sharing adjustments related to GEM refund of US$3.6 million.

Financial expenses

Financial expenses	12 Months Ended
	Dec. 31, 2020
Financial expenses
Financial expenses	18. Financial expenses This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Interest on disputed mining royalties (a) 43,838 68,107 370,159 Tax contingencies (b) 54,098 2,488 4,273 Interest on senior unsecured credit facility (see Note 10(b)) 22,351 39,083 49,551 Excess of salaries limit in workers profit sharing (c) 16,591 — — Interest for leases (see Note 10(a)) 4,875 5,242 — Amortization debt issuance cost (See Note 10(b)) 1,673 1,768 2,419 Extinguishment of debt - debt issuance cost (see Note 10(b)) 902 1,298 1,902 Capitalized Interest associated to capital projects (see Note 7(a)) Other financial expenses 891 2,395 2,219 142,675 115,877 426,733 (a) For the year ended December 31, 2020, primarily represents charges of interest related to (i) the installment payment programs for disputed mining royalties for the period January 2009 through September 2011 and for the years 2012 and 2013 and SMT for the period October 2011 through December 2013 of US$38.2 million and (ii) other taxes related to disputed mining royalty of US$5.6 million. For the year ended December 31, 2019, primarily represents charges of interest related to the installment payment programs for SMT for the period October 2011 through December 2013 and disputed mining royalties for the period December 2006 through September 2011 and for the years 2012 and 2013 of US$53.6 million. Amount also includes interest associated with (i) ITAN for the years 2010, 2011 and 2013 of US$10.4 million, (ii) other taxes related to disputed mining royalty of US$2.9 million and (iii) disputed mining royalties for the period October 2011 through December 2011 of US$1.2 million. For the year ended December 31, 2018, represents (i) interest and interest on penalties associated to disputed mining royalties for the year 2009 through the year 2013 of US$218.7 million, (ii) income tax related to disputed mining royalties for the year 2006 through the year 2011 of US$75.7 million, (iii) SMT for the year 2011 through the year 2013 of US$51.0 million, (iv) ITAN for the years 2009, 2010, 2011 and 2013 of US$12.1 million, (v) interest paid on the royalty installment payment program for the year 2006 through the year 2008 of US$6.1 million, (vi) deferral interest related to the new royalty installment payment programs for the period January 2009 through the period September 2011 of US$5.3 million and (vii) interest of amended tax return for the year 2013 for GEM refund of US$1.3 million. (b) For the year ended December 31, 2020, primarily represents interest related to (i) the income tax assessment for the year 2013 of US$31.4 million, (ii) uncertain income tax treatments (IFRIC 23) associated primarily to tailing dam income tax of US$13.1 million, (iii) SUNAT assessments for prior years related to income and non-income tax contingencies in which the Company expects to obtain an unfavorable result of US$8.7 million. (c) Represents interest associated to the excess of salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO). This is related to adjustments of previous years income tax assessments (recognized in 2020 primarily as a result of the international arbitration proceeding initiated by the company (See note 13(d)).

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Earnings per share [Line Items]
Earnings per share	19. Earnings per share Basic and diluted earnings per share are calculated by dividing earnings by the weighted-average number of outstanding shares during the period. Basic and diluted earnings per common share have been determined as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Profit for the period (US$) 274,544,000 390,377,000 119,710,000 Weighted average number of share outstanding (Note 12(a)) 350,056,012 350,056,012 350,056,012 Basic and diluted earnings per share (US$) 0.784 1.115 0.342

Fair value measurement

Fair value measurement	12 Months Ended
	Dec. 31, 2020
Hierarchy and fair value of financial instruments [Line Items]
Fair value measurement	34. Fair value measurement Fair value disclosure of assets and liabilities according to its hierarchy - The following table provides the fair value measurement hierarchy of the Group’s assets and liabilities: Fair value measurement using: Quoted prices in active Observable Unobservable markets inputs inputs Total (Level 1) (Level 2) (Level 3) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020- Assets and liabilities measured at fair value: Fair value of account receivable (subject to provisional pricing) 126,553 — 126,553 — Bank loans 65,793 — 65,793 — Financial obligations 531,745 — 531,745 — Contingent consideration liability 22,100 — — 22,100 Hedge instruments 18,439 — 18,439 — As of December 31, 2019 - Assets and liabilities measured at fair value: Fair value of account receivable (subject to provisional pricing) 165,546 — 165,546 — Bank loans 55,000 — 55,000 — Financial obligations 571,688 — 571,688 — Contingent consideration liability 16,410 — — 16,410 Hedge instruments — — — — Financial instruments whose fair value is similar to their book value – For financial assets and liabilities such as cash and cash equivalents, trade and other receivables, trade and other payables that are liquid or have short-term maturities (less than three months), it is estimated that their book value is similar to their fair value. The derivatives are also recorded at the fair value so that differences do not need to be reported. The fair value of account receivable is determined using valuation techniques with information directly observable in the market (future metal quotations). Financial instruments at fixed and variable rates - The fair value of financial assets and liabilities at fixed and variable rates at amortized cost is determined by comparing the market interest rates at the time of their initial recognition to the current market rates with regard to similar financial instruments. The estimated fair value of deposits that accrue interest is determined by means of cash flows discounted using the prevailing market interest rates in the currency with similar maturities and credit risks. Based on the foregoing, there are no important existing difference between the value in books and the fair value of the assets and financial liabilities as of December 31, 2020 and 2019. There were no transfers between Level 1and Level 2 during 2020 and 2019. As of December 31, 2020, the fair value of the investment property amounted to US$842,000 (US$544,000 as of December 31, 2020). There is not an independent valuation for investment property. Fair value measurements using significant unobservable inputs (level 3) – The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements: Fair value as of December 31, Unobservable Relationship of unobservable Description 2020 inputs Range of inputs inputs to fair value Contingent consideration liability 22,100 Rate before tax 9.30 % A change in the discount rate by 10% (rate of 0.93%) higher/lower, the fair value would increase/decrease in US$1.5 million. Expected revenues annual average (US$000) If expected sales change by 10% higher/lower, the fair value would increase/decrease in US$2.2 million.
Sociedad Minera Cerro Verde S.A.A. [Member]
Hierarchy and fair value of financial instruments [Line Items]
Fair value measurement	22. Hierarchy and fair value of financial instruments Hierarchy: As of December 31, 2020 and 2019, the only financial assets carried at fair value are embedded derivatives, included in trade accounts receivable and related parties, which are generated by the sale of copper and molybdenum and measured at fair value based on commodity prices. The net value of this embedded derivative as of December 31, 2020, was an asset of US$101.4 million (asset of US$36.7 million as of December 31, 2019). Embedded derivatives are categorized within Level 2 of the hierarchy. The fair value of embedded derivatives is determined using valuation techniques using information directly observable in the market (forward prices of metals). Fair value: Financial instruments whose fair value is similar to their book value - For financial assets and liabilities which are liquid or have short-term maturity (less than three months), such as cash and cash equivalent, accounts receivable, other accounts receivable, accounts payable, other accounts payable, and other current liabilities, it is estimated that their book value is similar to their fair value. Financial instruments at fixed and variable rates - Financial assets and liabilities with fixed or variable rates are recorded at amortized cost and fair value is determined by comparing the market interest rates at the time of their initial recognition to the current market rates with regard to similar financial instruments. Based on the foregoing, there are no significant differences between book value and fair value of financial instruments (assets and liabilities) as of December 31, 2020 and 2019.

Reconciliation between net inco

Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP	24. Reconciliation between net income and shareholders' equity determined under IFRS and U.S. GAAP The following is a summary of the main adjustments to net income for the years ended December 31, 2020, 2019 and 2018 and to shareholders' equity as of December 31, 2020, 2019 and 2018 that would be required if U.S. GAAP had been applied instead of IFRS in the financial statements: 2020 2019 2018 US$(000) US$(000) US$(000) Net profit under IFRS 274,544 390,377 119,710 Items increasing (decreasing) reported net profit: Stripping activity asset, net of amortization, note 23 (a) 31,419 (41,508) (64,452) Inventories valuation, note 23 (b) (906) (53,424) (29,515) Remediation and mine closure, note 23 (e) 23 23 1,351 Deferred workers´ profit sharing, note 23 (c) (24,255) (23,449) (7,079) Lease activity 1,597 2,071 — Deferred income tax, note 23 (d) (6,514) 45,759 33,291 Other (222) (134) (26) Net income under U.S. GAAP 275,686 319,715 53,280 2020 2019 2018 US$(000) US$(000) US$(000) Shareholders’ equity under IFRS 5,635,328 5,359,323 5,117,732 Items increasing (decreasing) reported shareholder’s equity: Stripping activity asset, net of amortization, note 23 (a) (267,596) (299,015) (257,507) Inventories valuation, note 23 (b) (217,707) (216,801) (163,377) Remediation and mine closure, note 23(e) (5,480) (5,503) (5,526) Deferred workers´ profit sharing note 23(c) and 24 (a) (87,415) (63,160) (39,711) Lease activity 3,668 2,071 — Deferred income tax, note 23d 189,073 195,587 149,828 Other (144) 78 212 Shareholders’ equity under U.S. GAAP 5,249,727 4,972,580 4,801,651 (a)
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP	27. Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP The following is a summary of the adjustment to net income for the years ended December 31, 2020, 2019 and 2018, and to partners' equity as of December 31, 2020, 2019 and 2018 that would be required if U.S. GAAP had been applied instead of IFRS in the consolidated financial statements: 2020 2019 2018 US$(000) US$(000) US$(000) Loss for the year under IFRS (165,449) (95,257) (81,517) Items increasing (decreasing) reported net profit: Reversal of depreciation of assets impaired under IFRS, note 24(a) (97,352) (205,653) (320,424) Reversal of depreciation of assets impaired under U.S. GAAP, note 24(a) 104,108 204,276 254,006 Stripping activity asset, note 24(b) (32,169) 7,533 18,227 Reclamation and mine closure, note 24(c) (61,555) 54,873 (20,537) Asset retirement costs, note 24(c) 16,702 14,504 89,280 Inventories, note 24(d) (929) (7,740) (10,217) Contingencies, note 24(e) — — 1,228 Debt instrument interest, note 24(f) 1,497 1,497 735 Interest regarding tax claim, note 24(g) (16,496) 16,839 — Income tax payable, including fines, note 24(g) (11,920) 12,168 — Others 20 276 151 (98,094) 98,573 12,449 Income (loss) for the year under U.S. GAAP (263,543) 3,316 (69,068) 2020 2019 2018 US$(000) US$(000) US$(000) Partners' equity under IFRS 324,387 489,712 583,723 Items increasing (decreasing) reported partners' equity: Impairment loss for IFRS, note 24(a) 2,469,188 2,469,188 2,469,188 Reversal of depreciation of assets impaired under IFRS, note 24(a) (1,297,689) (1,200,337) (994,684) Elimination of impairment loss recorded under U.S. GAAP, note 24(a) (933,200) (933,200) (933,200) Reversal of depreciation of assets impaired under U.S. GAAP note 24(a) 800,296 696,188 491,912 Stripping activity asset, note 24(b) (40,409) (8,240) (15,773) Asset retirement cost, note 24(c) (29,149) (59,160) (1,026) Reclamation and mine closure, note 24(c) 64,971 139,834 12,323 Inventories, note 24(d) (5,766) (4,837) 2,903 Debt instruments, note 24(f) 45,424 43,927 42,430 Contingencies, note 24(e) 1,228 1,228 1,228 Income tax payable contingency, including fines note 24(g) — 12,168 — Interest regarding tax claim, note 24(g) — 16,839 — Others 3,681 3,072 2,776 1,078,575 1,176,679 1,078,077 Partners' equity under U.S. GAAP 1,402,962 1,666,382 1,661,800

New U.S. GAAP Accounting Pronou

New U.S. GAAP Accounting Pronouncements	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
New U.S. GAAP Accounting Pronouncements [Line Items]
New USGAAP Accounting Pronouncements	28. New U.S. GAAP Accounting Pronouncements Accounting Standards Update-2016-13—Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (FASB) issued an ASU that requires entities to estimate all expected credit losses for most financial assets held at the reporting date based on an expected loss model, which requires consideration of historical experience, current conditions, and reasonable and supportable forecasts. The Company adopted this ASU effective January 1, 2020, and the adoption of this ASU did not have a material impact on its financial statements. Accounting Standards Update 2020-04—Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board (FASB) issued an ASU provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications in light of the expected market transition from the London Interbank Offered Rate (LIBOR). Banks that report information used to set LIBOR will no longer be required to do so after 2021. Under the guidance, an entity that makes an optional election would present and account for a modified contract as a continuation of the existing contract. Contracts will need to be modified to replace LIBOR with new rates. For all entities, this ASU was effective upon issuance (March 12, 2020) and generally can be applied through December 31, 2022. The Company does not expect this ASU to have an impact on its accounting or financial statements. Accounting Standards Update 2020-06—Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In August 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) simplifies accounting for convertible instruments by eliminating two of the three models in ASC 470-20 that require separate accounting for embedded conversion features and requires use of the “if-converted method” for all convertible instruments in diluted EPS calculations. For public entities, this ASU is effective for fiscal years ending after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, including adoption in an interim period. The Company does not expect this ASU to have an impact on its accounting or financial statements.
Sociedad Minera Cerro Verde S.A.A. [Member]
New U.S. GAAP Accounting Pronouncements [Line Items]
New USGAAP Accounting Pronouncements	25. New U.S. GAAP Accounting Pronouncements Accounting Standards Update-2016-13— Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (FASB) issued an ASU that requires entities to estimate all expected credit losses for most financial assets held at the reporting date based on an expected loss model, which requires consideration of historical experience, current conditions, and reasonable and supportable forecasts. The Company adopted this ASU effective January 1, 2020, and the adoption of this ASU did not have a material impact on its financial statements. Accounting Standards Update 2020-04—Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the Financial Accounting Standards Board (FASB) issued an ASU provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications in light of the expected market transition from the London Interbank Offered Rate (LIBOR). Banks that report information used to set LIBOR will no longer be required to do so after 2021. Under the guidance, an entity that makes an optional election would present and account for a modified contract as a continuation of the existing contract. Contracts will need to be modified to replace LIBOR with new rates. For all entities, this ASU was effective upon issuance (March 12, 2020) and generally can be applied through December 31, 2022. The Company does not expect this ASU to have an impact on its accounting or financial statements. Accounting Standards Update 2020-06—Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In August 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) simplifies accounting for convertible instruments by eliminating two of the three models in ASC 470-20 that require separate accounting for embedded conversion features and requires use of the “if-converted method” for all convertible instruments in diluted EPS calculations. For public entities, this ASU is effective for fiscal years ending after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, including adoption in an interim period. The Company does not expect this ASU to have an impact on its accounting or financial statements.

Events after the reporting peri

Events after the reporting period	12 Months Ended
	Dec. 31, 2020
Disclosure of Subsequent Event [Line Items]
Events after the reporting period	35. Events after the reporting period Since March 2021, Buenaventura has been assessing different possibilities, such as the issuance of bonds or the disposition of certain assets (including its participation in associates and subsidiaries), in order to satisfy its financial obligations and expansion requirements. As of the date of this report, the Company’s board of directors has not approved any such transactions or asset dispositions, and therefore there is no effect on any of Buenaventura’s financial reporting as of and for the period ended December 31, 2020. In accordance with International Financial Reporting Standards - IFRS, the accompanying financial statements were prepared based on the conditions existing as of December 31, 2020 and considering those events that occurred after that date that provided evidence of conditions that existed at the end of the reporting period. Given that the social immobilization measures were decreed after December 31, 2020, their impact is considered an event that is indicative of conditions that arose after the reporting period and, consequently, no adjustments have been made to the financial statements as of December 31, 2020.
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Subsequent Event [Line Items]
Events after the reporting period	26. Subsequent Events Since December 31, 2020, and through the date these financial statements were issued, no material events have occurred that may affect the interpretation of these financial statements.
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Subsequent Event [Line Items]
Events after the reporting period	29. Subsequent Event The Company continues to monitor the evolution of the pandemic situation and the guidance of national and international authorities, as events beyond the control of Management may arise that require adjustment of the business plan. A new outbreak or further spread of COVID-19 and the consequent steps taken to limit the spread of the disease could affect the Company's ability to conduct business in the usual way and therefore affect the financial condition and operating result of the Company.

Other accruals and liabilities

Other accruals and liabilities	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Other Accruals And Liabilities [Line Items]
Other accruals and liabilities	13. Other accruals and liabilities (a) This caption is made up as follows: 2020 2019 US$(000) US$(000) Accrual of capital expenditure 20,147 8,139 Workers’ profit sharing payable (b) 17,311 12,793 Interests payable, see note 23 16,840 16,840 Accrual of operating costs (c) 15,938 11,238 Lease liabilities 330 596 70,566 49,606 Classification by maturity: Current portion 70,526 49,301 Non-current portion 40 305 70,566 49,606 (b) Accrual of operating cost - The accrual of operating cost relates to the accruals of services received by the Company as part of its operations that were pending to be invoiced such as power, maintenance, contractors and others. (c) Workers’ profit sharing - In accordance with Peruvian legislation, the Company maintains an employee profit sharing plan equal to 8% of annual taxable income. Distributions to employees under the plan are based 50% on the number of days that each employee worked during the preceding year and 50% on proportionate annual salary levels.

Summary of significant differen

Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles	26. Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles (U.S. GAAP) The Company’s financial statements have been prepared in accordance with International Financial Reporting Standards which differs in certain respects from U.S. GAAP. The effects of these differences are reflected in note 27 and are principally related to the items discussed in the following paragraphs: (a) Under IFRS, the Company estimates the recoverable amount of an asset whenever there is an indication that the asset may be impaired. The recoverable amount is the higher of (i) the fair value less costs of disposal and (ii) its value in use. Value in use is the present value of the future cash flows expected to be derived from an asset or cash-generating unit. Impairment loss previously recorded is reversible in subsequent periods under certain conditions. Under IFRS, the Company recorded in 2013 and 2016 an impairment loss related to its Conga and Yanacocha CGU for US$1,126,543 and US$1,342,645, respectively. In 2020, 2019, and 2018, the Company did not recognize any impairment losses. Under U.S. GAAP, the Company used undiscounted cash flows to perform an impairment evaluation. In December 2020, the Company performed a formal evaluation of its cash generating units and concluded that there are indicators of reversal of impairment of its Yanacocha CGU and impairment indicators in its Conga CGU, therefore it determined the recoverable value of both CGUs. As a result of this analysis the Company concluded that no reversals of impairment loss on either of its’ CGU as the recoverable amount was slightly higher to the carrying amount of the CGU’s assets; however, due to de sensitive of the cash flows to the discount rate, long term prices and the term of the cash flows, the Management has concluded that there is not appropriate recognized a reversal for the CGUs. In 2019 and 2018, no impairment indicators were identified for its Yanacocha and Conga CGU. In 2016, the Company recorded an impairment loss related to its Yanacocha CGU for US$933,200. For reconciling the net income/loss and net equity from U.S. GAAP to IFRS, the Company eliminates the higher depreciation recorded under U.S. GAAP corresponding to the impaired assets under IFRS. (b) Under IFRS, the stripping costs in the production phase of a surface mine are accounted according to the accounting principles disclosed in note 2, consequently the stripping activity asset is capitalized as stripping activity asset and has an impact in the depreciation expense. Under U.S. GAAP, the costs of clearing removal (stripping cost of production) incurred during the production stage are recorded as part of the production cost of inventories, accordingly, such costs are recorded on the income statement at an earlier time than IFRS. (c) Under IFRS, the liability is measured in accordance with IAS 37 and IFRIC 1. Upward and downward revisions in the amount of undiscounted estimated cash flows are discounted using the current market-based discount rate (this includes changes in the time value of money and the risks specific to the liability), see note 2.4(l). Under IFRS, the Company updates the discount rate used to discount its liability at the closing date, this change in the discount rate has an impact (increase/decrease) in the asset retirement cost and reclamation liability. Under U.S. GAAP, upward revisions in the amount of undiscounted estimated cash flows are discounted using the current credit-adjusted risk-free rate. Downward revisions in the amount of undiscounted estimated cash flows are discounted using the credit-adjusted risk-free rate that existed when the original liability was recognized. Under U.S. GAAP, there are no requirements of update the discount rate. (d) Under IFRS, the cost of inventory mainly includes a lower depreciation as a result of the reduced value of property, plant and equipment due to the impairments recorded in prior years, the impact of the stripping activity asset and workers' profit sharing. Under U.S. GAAP, the cost of inventory is affected by a different depreciation since the impairment recognized under U.S. GAAP is different than the one recognized under IFRS. According to U.S. GAAP, the workers' profit sharing is excluded of the inventory costing. (e) Under IFRS, a provision is recognized when: · An entity has a present obligation (legal or constructive) as a result of a past event. · It is probable that an outflow of resources will be required to settle the obligation. · A reliable estimate of the obligation can be made. For the purposes of IAS 37, “probable” is defined as more likely than not and refers to a probability of greater than 50%. Under U.S. GAAP, a loss contingency is recognized if both of the following conditions are met: It is probable (likely to occur) that an asset had been impaired or a liability has been incurred. The amount of loss can be reasonably estimated. The meaning of “probable” under ASC 450 is “the future event or events are likely to occur” (generally interpreted as between 70%- 80%). (f) Under IFRS, the shares held by Sumitomo (see note 13) meet the definition of a compound instrument according to IAS 32. As a result, it is classified as a liability (with a portion recorded to equity) until the option expires, in which case it will be required to be classified it as equity. There is no gain or loss on conversion at maturity. In the case the option is executed, both the liability and the equity would be reversed with a credit to cash. Under U.S. GAAP, the shares held by Sumitomo are classified as temporary equity – contingently redeemable non-controlling interest (“CRNCI”) according ASC 480-10-S99-3A; as a long as the option is not expired or it is exercised the CRNCI is recorded at fair value of inception which was determined to be equal to the purchase price. (g) Under IFRS, the settlement after the reporting period of a court case that confirms that the entity had a present obligation at the end of the reporting period is an adjusting event after the reporting period. During 2019, under IFRS the Company recognized a liability in tax payable, interest and fines for US$29 million related to a court case in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets, including the amount of the income tax to pay and the additional penalties and interests. See Note 23. Under U.S. GAAP, a change in facts after the reporting date but before the financial statements are issued or are available in relation to a tax position which is effectively settled through litigation shall be recognized in the period in which the change in facts occurs, therefore the Company recognized the tax claim in the first quarter of 2020. (h) The differences between U.S. GAAP and IFRS are re-measurements that lead to different temporary differences. The Company has to account for such differences. As the Company does not recognize deferred income tax assets based on its recoverability analysis, there is no differences to reconcile. (i) Under IFRS, the worker’s profit sharing is calculated based on the Company’s taxable income and is recorded as an employee benefit (cost of production or administrative expenses, depending on the function of the workers). Under U.S. GAAP, the workers’ profit sharing is treated in a similar way as income tax since both are calculated based on the Company’s taxable income. Therefore, the Company calculates a deferred workers’ profit sharing resulting from the taxable and deductible and deductible temporary differences. As the Company does not recognize deferred workers’ profit sharing assets based on its recoverability analysis in U.S. GAAP, there is no differences to reconcile.

Basis for preparation, consol_2

Basis for preparation, consolidation and accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Basis for preparation, consolidation and accounting policies
Basis of presentation	Basis of preparation - The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared on a historical cost basis, based on the records of the Company, except for the derivative financial instruments and financial assets and liabilities that have been measured at fair value and discontinued operations that have been valued at the lower of (i) their carrying amount and (ii) its fair value less cost to sell. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousands, except when otherwise indicated. The preparation of consolidated financial statements requires that Management use judgments, estimates and assumptions, as detailed on the following note 3. These consolidated financial statements provide comparative information in respect of prior periods.
Basis of consolidation	Basis of consolidation - The consolidated financial statements comprise the financial statements of the Company and its subsidiaries to the date of the consolidated statements of financial position. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has: - - - Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - - - The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.
Changes in accounting policies and disclosures	Changes in accounting policies and disclosures - Certain standards and amendments applied for the first time in 2020; however, they did not have material impact on the annual consolidated financial statements of the Group and therefore, have not been disclosed. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.
Foreign currencies	(a) The Group´s consolidated financial statements are presented in US dollars, which is also the parent company’s functional currency. For each entity, the Group determines the functional currency and the items included in the financial statements of each entity are measured using that functional currency. For consolidation purposes, each entity presents its financial statements in US dollars. Transactions and balances Transactions in foreign currency are initially recorded by the Group at the exchange rates prevailing at the dates of the transactions, published by the Superintendence of Banking and Insurance and Pension Fund Administrators (AFP for its acronym in Spanish). Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the reporting date. Differences arising from the settlement or translation of monetary items are recognized in profit or loss with the exception of monetary items that are designated as part of a hedge. These are recognized in other comprehensive income (OCI) until the hedge items are disposed of, at which time, the cumulative amount is reclassified to profit or loss. Tax charges and credits attributable to exchange differences on those monetary items are also recognized in OCI. Non-monetary assets and liabilities recognized in terms of historical cost are translated using the exchange rates prevailing at the dates of the initial transactions.
Financial instruments - Initial recognition and subsequent measurement	(b) A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (i) Initial recognition and measurement - Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through OCI, and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. Except for trade receivables that do not contain a significant financing component, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. For a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are “solely payments of principal and interest (SPPI)” on the principal amount outstanding. This assessment is performed at an instrument level. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a period established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in the following categories: - - - Financial assets at amortized cost - The Group measures financial assets at amortized cost if both of the following conditions are met: - - Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. This category generally applies to other receivables included in the “Trade and other receivables, net” caption. Financial assets at fair value through OCI - Financial assets are classified and measured at fair value through OCI if they are held in a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets. This category generally applies to the “Hedge derivative financial instruments” caption. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss include financial assets held for trading and financial assets designated upon initial recognition at fair value through profit or loss or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Notwithstanding the criteria for debt instruments to be classified at amortized cost or at fair value through OCI, as described above, debt instruments may be designated at fair value through profit or loss on initial recognition if doing so eliminates, or significantly reduces, an accounting mismatch. Financial assets at fair value through profit or loss are carried in the consolidated statements of financial position at fair value with net changes in fair value recognized in the consolidated statements of profit or loss. This category generally applies to the trade receivables included in the “Trade and other receivables, net” caption. Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - - When the Group has transferred its rights to receive cash flows from an asset or has entered a pass-through arrangement, it evaluates to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of the Group´s continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Impairment of financial assets - The Group recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12‑months (a 12‑month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables and contract assets, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Group considers a financial asset in default when contractual payments are past due according to each contract. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (ii) Initial recognition and measurement - Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans, borrowings and payables, net of directly attributable transaction costs. The Group’s financial liabilities include trade and other payables, financial obligations, bank loans, financial liabilities for contingent consideration liability and Hedge derivative financial instruments. Subsequent measurement - The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss - Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for repurchasing in the near term. This category also includes derivative financial instruments entered by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the consolidated statements of profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Group has designated financial liabilities for contingent consideration liability as at fair value through profit or loss. Financial liabilities at amortized cost (loans and borrowings) - After initial recognition, interest-bearing loans and borrowing are subsequently measured at amortized cost using the effective interest rate method (EIR). Gains and losses are recognized in the profit or loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. EIR amortization is included in the “Financial costs” caption in the consolidated statements of profit or loss. This category generally applies to interest-bearing loans and borrowings. Derecognition - A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of profit or loss. (iii) Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.
Cash and cash equivalents	(c) “Cash and cash equivalents” caption presented in the consolidated statements of financial position comprise cash at banks and on hand, and short-term highly liquid deposits with a current maturity and subject to an insignificant risk of changes in value. For the purpose of the consolidated statements of cash flows, cash and cash equivalents consist of cash and short-term deposits as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Group’s cash management. In addition, the Group has restricted cash. See Note 6.
Inventories	(d) Inventories are valued at the lower of cost or net realizable value. Cost is determined using the average method. In the case of finished goods and work in progress, cost includes the cost of materials and direct labor and a portion of indirect manufacturing expenses, excluding borrowing costs. The current portion of the inventories is determined based on the expected amounts to be processed within the next twelve months. Inventories not expected to be processed within the next twelve months are classified as non-current. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs to make the sale. Provision (or reversal) for losses on the net realizable value are calculated based on a specific analysis conducted annually by the Management and is charged to profit or loss in the period in which it determines the need for the provision (or reversal). Any provision for obsolescence of spare parts and supplies is determined by reference to specific items of stock based on inventory turnover level. A regular review is undertaken to determine the extent of any provision for obsolescence.
Business combinations and goodwill	(e) Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred measured at acquisition date fair value and the amount of any non-controlling interest in the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in “Administrative expenses” caption. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquire. Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 Financial Instruments, is measured at fair value, with changes in fair value recognized in either profit or loss or as a change to other comprehensive income. If the contingent consideration is not within the scope of IFRS 9, it is measured under the fair value at the reporting date with changes in the fair value recorded in the consolidated statement of profit or loss. Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests, and any previous interests held, over the net identifiable assets acquired and liabilities assumed. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified again all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the re-assessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in the consolidated statements of profit or loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, this difference is allocated to each of the Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities, of the acquiree, are assigned to those units. Where goodwill has been allocated to a cash-generating unit and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed of in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained.
Investments in associates and joint ventures	(f) An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but not control over those policies. A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. The Group’s investments in associates and joint ventures are accounted for using the equity method. Under this method, the investment in an associate or joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Group’s share of net assets of the associate and joint ventures since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment individually. The consolidated statement of profit or loss reflects the Group’s share of the results of operations of the associates and joint ventures. Any change in OCI of those investees is presented, as part of the Group’s other comprehensive income. In addition, when there has been a change recognized directly in the equity of the associate and joint ventures, the Group recognizes its share of any changes, when applicable, in the consolidated statements of changes in shareholders’ equity. Unrealized gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture. The aggregate of the Group´s share of profit or loss of an associate and joint ventures is shown on the face of the consolidated statements of profit or loss outside operating profit and represents profit or loss after tax in the associates and joint ventures. The financial statements of the associates and joint ventures are prepared for the same reporting period as the Group. When necessary, adjustments are made to bring the accounting policies in line with those of the Group. After the application of the equity method, the Group determines whether it is necessary to recognize an impairment loss of its investment in associates and joint ventures. At each reporting date, the Group determines whether there is objective evidence that the investments in the associates and joint ventures are impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss in the consolidated statements of profit or loss. Upon loss of significant influence over the associate and joint ventures, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate and joint ventures upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in consolidated statements of profit or loss.
Prepaid expenses	(g) Non-monetary assets, which represent an entity’s right to receive goods or services, are presented as prepaid expenses. The asset is subsequently derecognized when the goods are received, and the services are rendered.
Property, plant and equipment	(h) Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into operation, the initial estimate of the obligation for mine closing and, borrowing costs for qualifying assets. When significant parts of property, plant and equipment are required to be replaced at intervals, the Group depreciates them separately based on their specific useful lives. In addition, when a major inspection is performed, its cost is recognized in the carrying amount of plant and equipment as a replacement if the recognition criteria are satisfied. All other maintenance and repair costs are recognized in the consolidated statement of profit or loss as incurred. Depreciation - Unit-of-production method: In mining units with long useful lives, depreciation of assets directly related to the operation of the mine is calculated using the units-of-production method, which is based on economically recoverable reserves of the mining unit. Other assets related to these mining units are depreciated using the straight-line method with the lives detailed in the next paragraph. Straight-line method: Depreciation of assets in mining units with short useful lives or used for administrative purposes is calculated using the straight-line method of accounting. The useful lives are the following: Years Buildings, construction and other 6 to 20 Machinery and equipment 5 to 10 Transportation units 5 Furniture and fixtures 10 Computer equipment 4 The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year-end, and adjusted prospectively, if appropriate. Disposal of assets - An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal, or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statements of profit or loss when the asset is derecognized.
Leases	(i) The Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Group as a lessee - The Group applies a single recognition and measurement approach for all leases, except for short-term leases with no renewal options and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. i) The Group recognizes right-of-use assets at the commencement date of the lease. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the related assets. If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. ii) At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. The Group does not have variable lease payments that depend on an index or a rate. In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. The Group’s lease liabilities are included “Financial obligation” caption. iii) The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment without renew option. It also applies the lease of low-value assets recognition exemption to leases of office equipment, which are considered low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term. Group as a lessor - Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in “Other, net” in the consolidated statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned.
Mining concessions	(j) Mining concessions represent ownership of the right of exploration and exploitation to the Group on mining properties that contains ore reserves acquired. Mining concessions are irrevocable, provided the holder of a mining concession complies with the obligations set forth in the General Mining Law. Such concessions have an indefinite term, subject to payment of an annual concession fee per hectare granted and achievement of minimum annual production for each hectare. Mining concessions are stated at cost and are amortized on units of production method, using as the basis proven and probable reserves. If the Group leaves these concessions, the costs associated are written off in the consolidated statements of profit or loss. Cost includes the fair value attributable to mineral reserves and the portion of mineral resources considered probable of economic extraction at the time of a business combination. At year-end, the Group evaluates if there is any indicator of impairment. If any indicator exists, the Group estimates the mining concession’s recoverable amount. Mining concessions are presented in the caption of “Mining concessions, development costs, right-of-use asset, property, plant and equipment, net”.
Exploration and mine development costs	(k) Exploration costs - Exploration costs are expensed as incurred. These costs primarily include materials and fuels used, surveying costs, drilling costs and payments made to the contractors. Exploration and evaluation activity include: - - - - - - Development costs – When the Group’s Management approves the feasibility of the conceptual study of a project, the costs incurred to develop such property, including additional costs to delineate the ore body and remove impurities it contains, are capitalized as development costs under the “Mining concessions, development costs, right-of-use asset, property, plant and equipment, net” caption. These costs are amortized when production begins, on the units-of-production basis over the proven and probable reserves. The development costs include: - - - Development costs necessary to maintain production are expensed as incurred.
Stripping (waste removal) costs	(l) As part of its mining operations, the Group incurs waste removal costs (stripping costs) during the development and production phases of its mining operations. Stripping costs incurred in the development phase of a mine, before the production phase commences (development stripping), are capitalized as part of the cost of constructing the mine and subsequently amortized over its useful life using units of production method. The capitalization of development stripping costs ceases when the mine starts production. Stripping costs incurred during the production phase (production stripping costs) are generally considered to create two benefits, being either the production of inventory or improved access to the ore to be mined in the future. Where the benefits are realized in the form of inventory produced in the period, the production stripping costs are accounted for as part of the cost of producing those inventories. Where the benefits are realized in the form of improved access to ore to be mined in the future, the costs are recognized as a non-current asset, referred to as a stripping activity asset, if the following criteria are met: - - - To identify components of mineral deposit, the Group works closely with the operating personnel to analyze the mine plans. Mostly, an ore body can have several components. The mine plans, and therefore, the identification of components, will vary among mines for several reasons. The stripping activity asset is initially measured at cost, which is the accumulation of costs directly incurred to perform the stripping activity directly incurred during the stripping activity. The production stripping cost is presented within “Mining concessions, development costs, right-of-use asset, property, plant and equipment, net” caption in the consolidated statements of financial position. The production stripping cost is subsequently depreciated using the units of production method over the expected useful life of the component identified of the ore body that has been made more accessible by the activity. This production stripping cost is stated at cost, less accumulated depreciation and accumulated impairment losses, if any.
Investment properties	(m) Investment properties are measured at cost, net of accumulated depreciation and impairment loss, if any. Depreciation of the investment properties is determined using the straight-line method with useful life of 20 years. Investment properties are derecognized when either they have been disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss in the period of derecognition. The amount of consideration to be included in the gain or loss arising from derecognition of investment property is determined in accordance with the requirements for determining the transaction price in IFRS 15. Transfers are made to (or from) investment property only when there is a change in use. For a transfer from investment property to an item of property, plant and equipment, the deemed cost for subsequent accounting is the fair value at the date of change in use. If an item of property, plant and equipment becomes an investment property, the Group accounts for such property in accordance with the policy stated under property, plant and equipment up to the date of change in use.
Impairment of non-financial assets	(n) The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of (i) an asset’s or cash-generating unit' (CGU) fair value less costs of disposal and (ii) its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less cost of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Group’s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of five years. A long-term growth rate is calculated and applied to project future cash flows limited to the live of the mine. Impairment losses of continuing operations, including impairment of inventories, are recognized in the consolidated statements of profit or loss in expense categories consistent with the function of the impaired asset. For non-financial assets, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses may no longer exist or have decreased. If such indication exists, the Group estimates the asset’s or CGU’s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset or CGU’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the consolidated statements of profit or loss.
Provisions	(o) General - Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost. Provision for closure of mining units - The Group records a provision for closure of mining units when a legally enforceable obligation arises, which is independent of the full depletion of the mine reserves. The Group recognizes a provision for closure of mining units once the obligation has been properly measured. The liability is initially recognized at the present value of the estimated costs and is capitalized as part of the carrying amount of the related mining assets (property, plant and equipment). The discounted liability is increased for the change in present value based on discounted rates that reflects current market assessments and the risks specify to the liability. In addition, the capitalized cost is depreciated and/or amortized based on the useful life of the asset. Any gain or loss resulting from the settlement of the obligation is recorded in the current results. Changes in the estimated timing of closure or changes to the estimated future costs are dealt with prospectively by recognizing an adjustment to the provision for closure and a corresponding adjustment to the related mining asset. Any reduction in the provision for closure and, therefore, any deduction from the mining asset to which it relates, may not exceed the carrying amount of the mining asset. If it does, any excess over the carrying amount is recognized immediately to the consolidated statements of profit or loss. If the change in estimate results in an increase in the provision for closure and, therefore, an addition to the carrying value of the mining asset, the Group considers whether this is an indication of impairment of the asset as a whole, and if so, the Group performs an impairment test. For closed mines, changes to estimated costs are immediately recognized in the consolidated statements of profit or loss.
Treasury shares	(p) The Group´s own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized as additional capital in equity. The voting rights related to treasury shares are cancelled for the Group and no dividends on such shares are allocated.
Revenue recognition	(q) Revenue from contracts with customers is recognized when control of goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods and services. The Group has concluded that it is the principal in its revenue contracts because it typically controls the goods before transferring them to the customer. The disclosures of significant accounting judgments, estimates and assumptions relating to revenue from contracts with customers are provided in Note 3. Sales of goods (concentrates and metals) - The Group recognizes revenue from sale of concentrates and metals at the point in time when control of the asset is transferred to the customer. Transfer of control is determined in accordance with the terms of each of the contracts entered with the Group’s customers; however, under such contracts, transfer of control generally occurs upon shipment or delivery of the goods, including transportation. The recognized revenue corresponds to an amount that reflects the consideration the Group expects to receive in exchange for those products. Revenue from sale of concentrates and metals is recorded net of “Commercial deductions”. Commercial deductions correspond to adjustments in price for treatment and refining charges and can include certain penalties that, in accordance with the applicable contract, are deducted from the international fine metal spot price, and that are incurred after the time of sale of the applicable concentrate. The Group deems these deductions to be part of the transaction price. The normal credit term is 30 to 90 days of delivery. The Group considers whether there are other promises in the contract that are separate performance obligations, to which a portion of the transaction price needs to be allocated. The Group considers that the only performance obligation is the delivery of the goods. In determining the transaction price for the sale of concentrates and metals, the Group considers the effect of variable consideration and the existence of significant financing components. Variable consideration - If the consideration in the contract includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal for revenue recognized will not occur when the associated uncertainty with the variable consideration is subsequently resolved. The Group´s sales of concentrates and metals allow for price adjustments based on the market price at the end of the relevant quotation period (QP) stipulated in the contract. These are referred as to provisional pricing arrangements and are such that the selling price for metal in concentrate is based on prevailing spot prices on a specified future date after shipment to the customer. Adjustments to the sales price occur based on movements in quoted market prices up to the end of the QP. The period between provisional invoicing and the end of the QP can generally range between one and four months. The Group's sales of concentrates and metals are also subject to slight variations in yield that can occur while such goods are in transit to their destination due to variations in humidity, weight and ore grades. Such variations are recognized directly as part of "Sales of goods" once the Group reaches an agreement with the applicable customer in respect of final amounts sold. Sales of concentrates and metals at provisional prices include a gain (loss) to be received at the end of QP; this is considered a variable consideration. Changes in the price during the quotation period are recognized in the “Sales of goods” caption as "fair value of accounts receivables". See note 20(b). For provisional pricing arrangements, any future change that occurs over the QP are embedded within the provisional price trade receivables and are, therefore, within the scope of IFRS 9 and not within the scope of IFRS 15. Given the exposure to the commodity price, these provisionally priced trade receivables will fail the cashflow characteristics test within IFRS 9 and will be required to be measured at fair value through profit or loss from initial recognition and until the date of settlement. The subsequent changes in fair value are recognized in the consolidated statements of profit or loss for each period and presented separately from revenue from contracts with customer as part of “fair value of trade receivables”. See note 20(b). Changes in fair value over, and until the end of, the QP, are estimated by reference to updated forward market prices for gold and copper as well as taking into account relevant other fair value considerations set out in IFRS 13, including interest rate and credit risk adjustments. Sales of services – Services are recognized over time because the customer simultaneously receives and consumes the benefits provided by the Group. For measuring progress of the services, the Group used the output method in measuring progress of the services due to the Group has the right to invoice an amount that corresponds directly to the performance completed to date. Significant financing components The Group receives short-term advances from its customers. Using the practical expedient in IFRS 15, the Group does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good to the customer and when customer pays for that good will be one year or less. Contract Balances - Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. As of December 31, 2020 and 2019, the Group has not contractual assets. Trade receivables A receivable represents the Group´s right to an amount of consideration that is unconditional. Contract liabilities A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If customer pays consideration before the Group transfer goods or services to the customer, a contract liability is recognized when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Group performs under the contract. As of December 31, 2020 and 2019, the Group has not contractual liabilities. Cost to obtain a contract The Group pays sales commissions as part of the sales of services in the insurance brokerage segment. The Group has elected to apply the optional practical expedient for cost to obtain a contract which allows the Group to immediately expense sales commissions because the amortization period of the assets that the Group otherwise would have used is one year or less. Interest income - For all financial instruments measured at amortized cost, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the consolidated statements of profit or loss. Royalty income - The royalty income is recognized when the later of the following events occurs: the subsequent sales occur or the performance obligation is satisfied (or partially satisfied). Dividends - Dividends from investments is recognized when the Group's right to receive the payment is established, which is generally, when the investments’ shareholders approve the dividend. Rental income - Rental income arising from operating leases on investment properties is accounted for on a straight-line basis over the lease term and is included in “Other, net” in the consolidated statement of profit or loss due to its operating nature.
Benefits to employees	(r) Salaries and wages, bonuses and vacations are calculated in accordance with IAS 19 "Employee Benefits" and are calculated in accordance with current Peruvian legislation based on the accrual basis. Workers’ profit sharing - The Group recognizes workers’ profit sharing in accordance with IAS 19 “Employees Benefits". Workers' profit sharing is calculated in accordance with the Peruvian law (Legislative Decree No. 892), and the applicable rate is 8% over the taxable net base of current year. According to Peruvian law, the limit in the workers' profit sharing that an employee can receive is equivalent to 18 months of wages, and any excess above such limit has be transferred to the Regional Government and “National Fund for Employment’s Promotion and Training” (“FONDOEMPLEO”).
Borrowing costs	(s) Costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as finance part of the cost of an asset. The Group defines a qualifying asset as one which value is greater than US$5 million and requires a longer period to 12 months to get ready for its intended use. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that the Group incurs in connection with the borrowing of funds.
Taxes	(t) Current income tax - Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid or the tax authority. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting period. Current income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statements of profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred income tax - Deferred income tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred income tax liabilities are recognized for all taxable temporary differences, except for taxable temporary differences associated with investments in associates, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the near future. Deferred income tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively enacted at the reporting date. Deferred tax items are recognized in correlation to the underlying transaction either in profit and loss, OCI or directly in equity. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right to compensate current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. Uncertain tax treatment - The Group determines whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments and uses the approach that better predicts the resolution of the uncertainty. The Group determined, based on its tax compliance and transfer pricing study that it is probable that its tax treatments (including those for the subsidiaries) will be accepted by the taxation authorities. Peruvian mining royalties and special mining tax - In accordance with Law No.28258, as amended by Law No. 29788, mining royalties are either payable as the higher of as a specified percentage of operating profit or 1% of revenues. If the mining royalty is calculated as a percentage of operating profit, marginal rates ranging from 1% to 12% that increase progressively for companies with higher operating margins will apply. Mining royalties and special mining tax are accounted for in accordance with IAS 12 “Income Tax” because they have the characteristics of an income tax. This is considered to be the case when they are imposed under government authority and the amount payable is based on taxable income-rather than physical quantities produced or as a percentage of revenue-after adjustment for temporary differences. Legal rules and rates used to calculate the amounts payable are those in effect on the date of the consolidated statements of financial position. Therefore, obligations arising from Mining Royalties and Special Mining Tax are recognized as income tax under the scope of IAS 12. Both, Mining Royalties and Special Mining Tax generated deferred tax assets and liabilities, which must be measured using the average rates expected to apply to operating profit in the quarter in which the Group expects to reverse temporary differences. Sales tax - Expenses and assets are recognized net of the amount of sales tax, except: (i) (ii) The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statements of financial position.
Fair value measurement	(u) The Group measures its financial instruments at fair value at the date of the consolidated statements of financial position. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: - - The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described, as follows, based on the lowest level input that is significant to the fair value measurement as a whole: - - - For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest-level input that is significant to the fair value measurement as a whole) at the end of each reporting period. The Group's Management determines the policies and procedures for both recurring fair value measurement and non-recurring measurement. At each reporting date, the Group's Management analyzes the movements in the values of assets and liabilities, which are required to be re-measured or re-assessed as per the Group’s accounting policies. For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.
Derivative financial instruments and hedge accounting	(v) Initial recognition and subsequent measurement - The Group uses derivative instruments to hedge its commodity price risk (forward commodity contracts ) and interest rate risk. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. At the inception of the hedge relationship, the Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the Group will assess whether the hedging relationship meets the hedge effectiveness requirements (including the analysis of sources of hedge ineffectiveness and how the hedge ratio is determined). A hedging relationship qualifies for hedge accounting if it meets all the following effectiveness requirements: - - - The Group’s hedge is classified as cash flow hedge. The effective portion of gain or loss on the hedging instrument is initially recognized in the consolidated statements of changes in equity, under the “Other equity reserves” caption, while the ineffective portion is recognized immediately in the consolidated statements of profit or loss in the “Finance costs” caption.
Discontinued operations	(w) Discontinued operations are excluded from the results of continuing operations and are presented as a single amount as profit or loss after tax from discontinued operations in the consolidated statement of profit or loss. Additional disclosures are provided in note 1(e). All other notes to the consolidated financial statements include amounts for continuing operations, unless otherwise mentioned.
Other assets	(x) The "Other assets" caption includes patents and industrial property, right-of-use related to rights of way, and software licenses. Patents and industrial property and right-of-use are amortized over their useful economic lives. Software licenses are amortized over the straight-line method, using useful lives from 1 to 10 years. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite live are amortized over their useful economic lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of profit or loss in the expense category that is consistent with the function of the intangible assets. Internally generated intangibles, excluding capitalized development costs, are not capitalized. Instead, the related expenditure is recognized in the consolidated statement of profit or loss in the period in which the expenditure is incurred. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the consolidated statement of profit or loss when the asset is derecognized.
Reclassifications of comparative information	(t) Reclassifications of comparative information – The Company reclassified Other accruals and liabilities for US$49 million in years 2019; respectively. Such items were presented together with Provision and they are now presented as a separate item “Other accruals and liabilities”. Also, the Company reclassified Provision for US$3.6 million, now it is presented in the item Trade and other payable. 2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of financial position Current liabilities Trade and other payables 76,484 (3,678) 72,806 Provision 90,940 (45,623) 45,317 Other accruals and liabilities — 49,301 49,301 Non-current liabilities Provision 1,587,856 (305) 1,587,551 Other accruals and liabilities — 305 305 In addition, the Company reclassified Other accruals and liabilities for US$21 million and US$0.2 million in the statement of cash flows and also a reclassification to present in other line the income tax expense: 2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provisions 30,082 (20,031) 10,051 Trade and other payables (6,980) (1,251) (8,231) Other accruals and liabilities — 21,282 21,282 Value added tax credit and other taxes (3,003) (13,488) (16,491) Income tax collected (paid) 19,239 (19,239) — Income tax payable 32,201 (32,201) — Current income tax expense — 64,928 64,928 Net cash and cash equivalents provided by operating activities 34,419 — 34,419 2018 2018 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provision (2,494) (123) (2,617) Trade and other payables 1,708 320 2,028 Other accruals and liabilities — (197) (197) Current income tax expense — 29,297 29,297 Value added tax credit and other taxes 13,856 (6,240) 7,616 Income tax payable 8,897 (8,897) — Income tax collected (paid) 14,160 (14,160) — Net cash and cash equivalents provided by operating activities 78,519 — 78,519
Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Basis of presentation	Basis of preparation - The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standard Board (IASB). The consolidated financial statements have been prepared under the historical cost basis, except for accounts receivables and financial assets which are measured at their fair value. The consolidated financial statements are presented in U.S. dollars and all values are rounded to the nearest thousands, except when otherwise indicated. The preparation of consolidated financial statements requires that Management use judgments, estimates and assumptions, as detailed in note 3.
Basis of consolidation	Basis of consolidation - The consolidated financial statements comprise the financial statements of the Company and its subsidiary (San Jose Reservoir Trust, a separate Peruvian legal entity created to ensure the continuity of the Company’s operations in the San Jose Reservoir after the end of operations at Yanacocha). Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Company controls an investee if, and only if, the Company has: - Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee). - Exposure, or rights, to variable returns from its involvement with the investee. - The ability to use its power over the investee to affect its returns. Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Company has less than a majority of the voting or similar rights of an investee, the Company considers all relevant facts and circumstances in assessing whether it has power over an investee, including: - The contractual arrangement with the other vote holders of the investee. - Rights arising from other contractual arrangements. - The Company’s voting rights and potential voting rights or a combination of rights. The Company re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Company gains control until the date the Company ceases to control the subsidiary. When necessary, adjustments are made to the financial statements of the subsidiary to bring its accounting policies into line with the Company’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows are eliminated in full on consolidation. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.
Changes in accounting policies and disclosures	Changes in accounting policies and disclosures - Below is a summary of the changes in accounting policies and disclosures applicable for the year 2020: Amendments to IAS 1 and IAS 8: Definition of Material - In October 2018, the IASB issued amendments to IAS 1, “Presentation of Financial Statements” and IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors” to align the definition of “material” across the standards and to clarify certain aspects of the definition. The new definition states that “information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.” The amendments to the definition of material are not expected to have a significant impact on the Company’s consolidated financial statements. Conceptual Framework for Financial Reporting issued on 29 March 2018 - The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. This will affect those entities which developed their accounting policies based on the Conceptual Framework. The revised Conceptual Framework includes some new concepts, updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. Amendments to IFRS 16 Covid-19 Related Rent Concessions - On 28 May 2020, the IASB issued Covid-19-Related Rent Concessions - amendment to IFRS 16 Leases. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification. A lessee making this election record any change in lease payments that result from the Covid-19-related rental concession in the same way that it would recognize the change under IFRS 16, if the change were not a lease modification. Several other amendments and interpretations were applied for the first time in 2020, but they did not have an impact on the Company's consolidated financial statements and therefore have not been disclosed. The Company has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
Foreign currencies	(a) Foreign currencies - The consolidated financial statements are presented in U.S. dollars, which is also the Company’s functional currency. Transactions and balance in foreign currency Transactions in foreign currency (a currency other than functional currency) are initially recorded by the Company at the exchange rates prevailing at the time of the transactions published by the Superintendence of Banking and Insurance and Pension Fund Administrators (AFP for its acronym in Spanish). Monetary assets and liabilities denominated in other currencies are translated into the U.S. dollar at exchange rates prevailing at the statements of financial position dates. Gains or losses from exchange differences arising from the settlement or translation of monetary assets and liabilities are recognized in the consolidated statements of comprehensive income. Non-monetary assets and liabilities recognized in terms of historical cost are translated using the exchange rates prevailing at the dates of the initial transactions. Transactions in Soles (S/) Transactions in Soles are completed using exchange rates published by the AFP. As of December 31, 2020, the exchange rates for U.S. dollars published by this Institution were US$0.2764 for buying and US$0.3020 for selling (US$0.3020 for buying and US$0.3015 for selling as of December 31, 2019), and have been applied by the Company for the assets and liabilities accounts, respectively. As of December 31, 2020 and 2019, the Company presents the following assets and liabilities originally denominated in Soles by its equivalent in U.S. dollars: 2020 2019 US$(000) US$(000) Assets Cash and cash equivalents 6,242 5,140 Trade and other receivables 7,584 27,990 Value added tax credit 25,214 32,831 Total assets 39,040 65,961 Liabilities Trade and other payables 48,200 13,085 Income tax payable 37,779 23,153 Provisions, other accruals and liabilities 25,774 29,633 Total liabilities 111,753 65,871 Net asset (liability) position (72,713) 90 For the year ended December 31, 2020, the Company recognized a net gain from currency exchange difference for US$1,180 (net gain for US$2,902 and loss for US$2,056 as of December 31, 2019 and 2018; respectively) in the caption “Net gain (loss) from currency exchange difference” of the consolidated statements of comprehensive income.
Financial instruments - Initial recognition and subsequent measurement	(b) Financial instruments - Initial recognition and subsequent measurement - A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. (i) Financial assets - Initial recognition and measurement Financial assets are classified, at initial recognition, and subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price as disclosed in section (n) Revenue from contracts with customers. In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Financial assets of the Company comprise cash and cash equivalents, trade and other receivables, net and financial assets at fair value through OCI with recycling of cumulative gains and losses and financial assets at fair value through profit or loss. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in four categories: - Financial assets at amortized cost (debt instruments). - Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments). - Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments). - Financial assets at fair value through profit or loss. Financial assets at amortized cost (debt instruments) - Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. The Company’s financial assets at amortized cost includes other receivables, net. See note 6 for more information on accounts receivables. Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments) - For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the consolidated statements of comprehensive income and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. The Company’s investments in the San Jose Reservoir Trust are classified as financial assets at fair value through OCI as of December 31, 2020 and 2019. Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments) - Debt instruments at fair value through OCI includes investments in quoted debt instruments included under other non-current financial assets. Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statements of comprehensive income when the right of payment has been established, except when the Company benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment. The Company does not have financial assets classified in this category. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss are carried in the consolidated statement of financial position at fair value with net changes in fair value recognized in the consolidated statements of comprehensive income. This category includes derivative instruments and listed equity investments which the Company had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are recognized as other income in the consolidated statements of comprehensive income when the right of payment has been established. As of December 31, 2020, the Company has nominal investments related to the San Jose Reservoir Trust as financial assets at fair value through profit or loss. A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category. This category also applies to financial assets that are intended to be held for an indefinite period of time and may be sold in response to needs for liquidity, or in response to changes in the market conditions (Note 9). Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - The rights to receive cash flows from the asset have expired; or - The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass-through arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset or, (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of the Company’s continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Impairment of financial assets - The Company recognizes an allowance for expected credit losses (ECLs) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12‑months (a 12‑month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For trade receivables and contract assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The Company considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. (ii) Financial liabilities - Initial recognition and measurement - Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, financial liabilities at amortized cost (loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge), as appropriate. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company’s financial liabilities include trade and other payables. Subsequent measurement - The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss - Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Company that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the consolidated statements of comprehensive income. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Company has not designated any financial liability as at fair value through profit or loss. Financial liabilities at amortized cost (Loans and borrowings, trade payables) - After initial recognition, interest-bearing loans and borrowing are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the consolidated statements of profit and cost when the liabilities are derecognized as well as through the amortization process. Amortized cost is calculated taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. Amortization under the effective interest rate method is included as financial costs in the consolidated statements of profit or loss. This category generally applies to interest-bearing loans and borrowings. Trade and other payables are subsequently measured at amortized cost. Derecognition - A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statements of comprehensive income. (iii) Offsetting of financial instruments - Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statements of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.
Current versus non-current classification	(c) Current versus non-current classification - The Company presents assets and liabilities in the consolidated statements of financial position based on current or non-current classification. An asset is classified as current when it is: - Expected to be realized or intended to be sold or consumed in the normal operating cycle; - Held primarily for the purpose of trading; - Expected to be realized within twelve months after the reporting period, or - Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. All other assets are classified as non-current. A liability is current when it is: - Expected to be settled in the normal operating cycle; - Held primarily for the purpose of trading; - Due to be settled within twelve months after the reporting period, or - There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. The Company classifies all other liabilities as non-current. Deferred tax assets and liabilities are classified as non-current assets and liabilities.
Cash and cash equivalents	(d) Cash and cash equivalents - Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term highly liquid investments with original maturities of three months or less. Restricted cash includes guarantee deposits in escrow accounts related to Sumitomo's shares acquisition (see note 14) and is excluded from cash and cash equivalents being included in other current assets or long-term assets depending on restrictions.
Stockpiles, ore on leach pads and inventories	(e) Stockpiles, ore on leach pads and inventories - Costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of weighted average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of costs applicable to sales. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next twelve months. Stockpiles, ore on leach pads and inventories not expected to be processed within the next twelve months are classified as non-current. The major classifications are as follows: (i) Stockpiles - Stockpiles represent ore that has been extracted from the mine and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are allocated to stockpiles based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead and depreciation and amortization relating to mining operations, and removed at each stockpile’s weighted average cost per recoverable unit as material is processed. (ii) Ore on leach pads - The recovery of gold from certain gold oxide ores is achieved through the heap leaching process. Under this method, oxide ore is placed on leach pads where it is treated with a chemical solution, which dissolves the gold contained in the ore. The resulting gold-bearing solution is later processed in a plant where the gold is recovered. Costs are added to ore on leach pads based on current mining costs, including applicable overhead and depreciation and amortization relating to mining operations, as well as leaching costs incurred in the leaching process. Costs are removed from ore on leach pads as ounces are recovered based on the weighted average cost per estimated recoverable ounce of gold on the leach pad. The estimates of recoverable gold on the leach pads are calculated from the quantities of ore placed on the pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, the leach pads recover between 50% and 95% of the ultimate recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete. Although the quantities of recoverable gold placed on the leach pads are reconciled by comparing the grades of ore placed on the pads to the quantities of gold actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored, and estimates are refined based on actual results over time. The Company’s operating results typically are not materially impacted by variations between the estimated and actual recoverable quantities of gold on its leach pads in the ordinary course of business. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted on a prospective basis. (iii) In - process inventory - In-process inventories represent materials that are currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, and include mill in-circuit and leach in-circuit. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective plants. In-process inventories are valued at the weighted average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and (or) leach pads plus the in- process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process. (iv) Precious metals inventory - Precious metals include gold dore and (or) gold bullion. Precious metals that result from the Company’s mining, processing activities are valued at the weighted average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs. (v) Materials and supplies - Materials and supplies are valued at the lower of weighted average cost or replacement value. Cost includes applicable taxes and freight.
Property, plant and equipment	(f) Property, plant and equipment - Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost of an element of property, plant and equipment comprises the following: the acquisition price or manufacturing cost, including non-reimbursable customs and taxes and any cost necessary to place the asset in operating condition, as anticipated by Management; the estimate of the rehabilitation obligation and, in the case of qualified assets, the financing costs. The purchase price or construction cost corresponds to the total amount paid and fair value of any other consideration provided to acquire the asset. Subsequent costs attributable to property, plant and equipment are capitalized only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably, otherwise the cost is charged to production or expense. Maintenance and repair expenses are charged to the production cost or expense, as necessary, in the period when incurred. Disbursements incurred to replace a component of an item or element of property, plant and equipment are capitalized separately, writing-off the carrying amount of the component being replaced. In the event the component replaced has not been considered as a separate component of the asset item, the replacement value of the new component is used to estimate the carrying amount of the assets being replaced. Assets in the construction stage are capitalized on a separate caption of property plant and equipment. At their completion, the cost is transferred to the appropriate category. The work in progress is not depreciated. Depreciation Land is not depreciated. Other than land, depreciation of property, plant and equipment is calculated using the straight-line method to allocate their cost less their residual value over their estimated useful lives and in the case of assets assigned to the production process of Yanacocha, under the lower of (i) that determined under the units of production method or (ii) the useful life of the mine. The useful lives as follows: Land improvements Between 2 and 4 years Buildings and constructions Between 5 and 10 years Machinery and equipment Between 3 and 10 years Vehicles Between 3 and 4 years Furniture and fixtures Between 3 and 4 years Other equipment Between 3 and 4 years Computer equipment Between 3 and 4 years Leach pads and assets retirement and mine closure Useful life of the mine and (or) process facilities The assets’ useful lives and residual values are reviewed, and adjusted if appropriate, at each date of the consolidated statement of financial position. Any changes in these estimates are prospectively adjusted. Disposal of assets Property, plant and equipment items are written-off at the date they are sold or when no economic benefits are expected from their further use or sale. Gains and losses on disposals of assets are determined by comparing the proceeds with their carrying amounts. These gains or losses are included in the consolidated statements of comprehensive income.
Leases	(s) Leases - The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Company as a lessee The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Company recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. (i) Right-of-use assets - The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: - Buildings 5 to 10 years - Plant and equipment 3 to 10 years If ownership of the leased asset transfers to the Company at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. The right-of-use assets are also subject to impairment. Refer to the accounting policies in section (j) Impairment of non-financial assets. (ii) Lease liabilities - At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is re-measured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset. The Company’s lease liabilities are included in other accounts payable. (iii) Short-term leases and leases of low-value assets - The Company applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term.
Exploration and mine development costs	(g) Mining rights - Mining rights include acquired interests in production, development and exploration stage properties. The mineral interests are capitalized at their fair value at the acquisition date. The value of such assets is primarily driven by the nature and amount of mineralized material believed to be contained in such properties. Production stage mining rights represent interests in operating properties that contain proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineralized material consisting of (i) mineralized material such as inferred material within pits; mineralized material with insufficient drill spacing to qualify as proven and probable reserves; and mineralized material in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current mineralized material and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. Exploration costs are capitalized when reserves at the location are established and reported in the Reserves and Resource information published annually by Newmont in its Form 10‑K. At this point, exploration costs are capitalized as mine development or as a component of property, plant and equipment, as appropriate. The Company’s mining rights generally are enforceable regardless of whether proven and probable reserves have been established. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and (or) undeveloped mineralized material. Mining rights are presented in the caption of property, plant and equipment, net.
Mine development	(h) Mine development costs - Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, and the removal of overburden to initially expose an ore body at open pit surface mines. Costs incurred before mineralization are classified as proven and probable reserves are expensed as “exploration and advanced projects” as part of the “Operating expenses” caption in the consolidated statements of comprehensive income. The capitalization of mine development project costs, that meet the definition of an asset, begins once mineralization is classified as proven and probable reserves. Drilling and related costs are capitalized for an ore body where proven and probable reserves exist; and the activities are directed at obtaining additional information on the ore body or converting mineralized material to proven and probable reserves. AII other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of the “Costs applicable to sales” caption in the consolidated statements of comprehensive income. The cost of removing overburden and waste materials to access the ore body at an open-pit mine prior to the production phase are referred to as "pre-stripping costs." Pre-stripping costs are capitalized during the development of an open-pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal and production of the minimum saleable materials may occur during development and related revenue is recorded as “Other operating revenue”, net of incremental mining and processing costs. See note 2.4(i) below. If any of the criteria are not met, the production stripping costs are charged to profit or loss as part of the “costs applicable to sales” caption in the consolidated statements of comprehensive income as they are incurred. Mine development costs are amortized using the units-of production (UOP) method based on estimated recoverable ounces in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area. Mine development costs are presented in the caption of Property, plant and equipment, net.
Stripping (waste removal) costs	(i) Stripping activity asset - The Company accounts for stripping costs incurred during the production phase of a surface mining in accordance with IFRIC 20 "Stripping costs in the production phase of as surface mine" whereby a stripping asset is recognized if, and only if, all of the following are met: - It is probable that the future economic benefit (improved access to the ore body) associated with the stripping activity will flow to the Company; - The Company can identify the component of the ore body for which access has been improved; and - The costs relating to the stripping activity associated with that component can be measured reliably. The primary components of the ore body on a pit by pit basis as well as within major pits are identified. Based on these components, stripping activities are analyzed, and costs are assigned based on whether they pertained to current inventory production or improved access to future ore bodies (or components of an ore body). Based on this analysis, the Company allocates the costs associated with improved access as a “stripping activity asset”. This allocation is based on the volume of waste and ore extracted in the period compared to expected volume life-of-mine per component of ore body. Costs allocated to the production stripping activity asset are subsequently depreciated. Depreciation of the production stripping asset was calculated on a systematic basis (waste-to-ore tons ratio) method over the expected useful life of the identified component of the ore body that becomes more accessible as a result of the stripping costs. This depreciation is a production cost.
Impairment of non-financial assets	(j) Impairment of non-financial assets - The carrying amounts of non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. If there are indicators of impairment, a review is undertaken to determine whether the carrying values are in excess of the recoverable amount. The recoverable amount is determined as the higher of (i) an asset’s fair value, less costs of disposal, and (ii) its value in use. Such review is undertaken on an asset by asset basis, except where such assets do not generate cash flows independently from other assets, in which case the review is undertaken at the cash generating unit level. The Company identified two separate cash generating units: Yanacocha and Conga. Future cash flows are estimated based on quantities of recoverable minerals, expected gold and other commodity prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans and the appropriate discount rate. These estimates, used in the determination of future cash flows, are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, gold and other commodity prices, production levels, costs and capital and interest rates are each subject to significant risks and uncertainties. If the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recorded in the consolidated statement of comprehensive income to reflect the asset at the lower amount. In assessing the recoverable amount for assets, the relevant future cash flows expected to arise from the fair value less costs of disposal have been discounted to their present value. An impairment loss is reversed in the consolidated statement of comprehensive income if there is a change in estimate used to determine recoverable amount since the prior impairment loss was recognized. The carrying amount of an asset is increased to the recoverable amount but not beyond the carrying amount net of depreciation or amortization which would have arisen if the prior impairment loss had not been recognized. After such a reversal the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less any residual value, on a systematic basis over its remaining useful life.
Provisions	(l) Provisions - General - Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. If the time value of money is significant, provisions are discounted using pre-tax rates, which reflect, when appropriate, the liabilities’ specific risks. The reversal of the discount due to the passage of time originates the increase of the obligation which is recognized with a charge to the consolidated statements of comprehensive income as a finance cost. Provisions are reviewed periodically and are adjusted to reflect the best estimate available as of the date of the consolidation statements of financial position. The expenses related to other provisions are presented in the consolidated statements of comprehensive income. Disclosure of contingent obligations is provided when their existence will only be confirmed by future events or their amount cannot be reliably measured. Contingent assets are not recognized and are disclosed only if it is probable that the Company will generate future economic benefits. Provision for mine closure - The Company records a provision for mine closure when a legally enforceable obligation arises, which is independent of the full depletion of the mine reserves. Provisions for mine closure or “reclamation obligations” are recognized when incurred and recorded as liabilities at the best estimate of the expenditure required to settle the obligation. The Company recognizes a liability for closure of mining units once the obligation has been properly measured. The liability is initially recognized at the present value of the estimated costs. The liability is accreted over time for the change in present value based on discounted rates that reflects current market assessments and the risk specify to the liability through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset's carrying value and amortized over the life of the related asset as “asset retirement and mine closure” or “reclamation costs” as part of the property, plant and equipment caption. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. The estimated reclamation obligation is based on when spending for an existing disturbance is expected to occur. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site. Changes in the estimated timing of closure or changes to the estimated future costs are dealt with prospectively by recognizing an adjustment to the provision for closure liability and a corresponding adjustment to the related mining asset. Any reduction in the provision for closure and, therefore, any deduction from the mining asset to which it relates, may not exceed the carrying amount of the mining asset. If it does, any excess over the carrying amount is taken immediately to the consolidated statements of comprehensive income. If the change in estimate results in an increase in the provision for closure and, therefore, an addition to the carrying value of the mining asset, the Company considers whether this is an indication of impairment of the asset as a whole, and if so, the Company performs an impairment test. Reclamation costs related to an inactive mine site are immediately recognized as expenses in the consolidated statements of comprehensive income.
Treasury shares	(m) Treasury shares – The Company’s own equity instruments that are reacquired (treasury shares) are recognized at cost and deducted from equity. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Company’s own equity instruments. Any difference between the carrying amount and the consideration, if reissued, is recognized as additional paid-in-capital in equity. The voting rights related to treasury shares are cancelled for the Company and no dividends on such shares are allocated.
Revenue recognition	(n) Revenue from contracts with customers - The Company is principally engaged in the business of producing gold and concentrated copper/silver. Revenue from contracts with customers is recognized when control of the goods is transferred to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods. The Company has concluded that it is the principal in its revenue contracts because it typically controls the goods before transferring them to the customer. Trade receivables (not subject to provisional pricing) are non-interest bearing and are generally on terms of 30 days. The disclosures of significant accounting judgements, estimates and assumptions relating to revenue from contracts with customers are provided in note 3. (i) Contract balances - Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. The Company does not have any contract assets as performance and a right to consideration occurs within a short period of time and all rights to consideration are unconditional. Trade receivables A receivable represents the Company’s right to an amount of consideration that is unconditional. Contract liabilities A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract liability is recognized when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Company performs under the contract. As of December 31, 2010 and 2019, there are not contract liabilities. Cost to obtain a contract The Company’s contracts do not involve any sales commissions because its contracts are globally negotiated by its Corporate. Therefore, the Company does not recognize any costs to obtain a contract. (ii) Sales of gold - Gold sales relate to unrefined gold dore that is sold under spot sales contracts to banks (customer). The Company initially negotiate with the banks the quantity of gold bullion to be required which is delivered in terms of unrefined gold dore to a selected refiner (the refiner is not the customer). The performance obligation is satisfied once the shipment confirmation is issued at the time the refinery receives the gold dore, allowing payment from the banks to the Company in full in cash in accordance to contracts with the banks. All risk of loss and damage of the gold dore passes to the refiner upon reception; however, control of the product does not pass to the refiner, it is simply providing processing services to the Company. The Company has identified only one performance obligation related to the sale of gold dore. Revenue is recognized at a point in time when control passes to the bank, which is when the payment is ensured at the same time when the refinery’s shipment confirmation is issued to the bank. This generally occurs after the dore’s refinery shipments are confirmed, not being required to physically delivered the gold dore to the banks but resides in the mint. However, the bank has title, is required to pay for the gold bullion and is able to direct the use of the gold bullion by instructing the refiner to transfer metal credits to or from its metal account, and is exposed to the risks and rewards of the gold bullion. The date of shipment’s confirmation and delivery might be different arising differences between the prices used. Therefore, these sales are subject to subsequent adjustments due the variation of assays. All these matters are resolved according a settlement process specified in the contract which result in the issue of debit/credit notes according to the assays results. With these arrangements, there are no advance payments received from the banks, no conditional rights to consideration, so no contract assets are recognized. A trade receivable is recognized at the date of sale and it is usually paid on cash once delivery confirmation is issued. The contract is entered into and the transaction price is determined at outturn by virtue of the shipment confirmation being subject to further price adjustments when difference between delivery and shipment dates arises. Also, given each spot sale represents the enforceable contract and all performance obligations are satisfied at that time, there are no remaining performance obligations (unsatisfied or partially unsatisfied) requiring disclosure. (iii) Sales of copper and silver concentrate - Copper and silver in concentrate are sold under Free on Board (FOB) Incoterms and this represents the enforceable contract. The Company considers whether there are other commitments in the contract that involve separate performance obligations to which a portion of the transaction price must be allocated. The performance obligation is the delivery of the concentrate at the point where control passes to the customer. The majority of the Company’s sales of copper and silver in concentrate allow for price adjustments based on the market price at the end of the relevant quotation period (QP) stipulated in the contract. These are referred to as provisional pricing arrangements and are such that the selling price for metal in concentrate is based on prevailing spot prices on a specified future date after shipment to the customer. Adjustments to the sales price occur based on movements in quoted market prices up to the end of the QP. The period between provisional invoicing and the end of the QP can be between one and three months. Revenue is recognized when control passes to the customer, which occurs at a point in time when the copper, silver in concentrate is physically transferred onto a vessel, train, conveyor or other delivery mechanism. The revenue is measured at the amount to which the Company expects to be entitled, being the estimate of the price expected to be received at the end of the QP, i.e., the forward price, and a corresponding trade receivable is recognized. For these provisional pricing arrangements, any future changes that occur over the QP are embedded within the provisionally priced trade receivables and are, therefore, within the scope of IFRS 9 and not within the scope of IFRS 15. Given the exposure to the commodity price, these provisionally priced trade receivables will fail the cash flow characteristics test within IFRS 9 and will be required to be measured at fair value through profit or loss up from initial recognition and until the date of settlement. These subsequent changes in fair value are recognized in the consolidated statements of comprehensive income and other comprehensive income each period and presented in “Other operating revenue”. Changes in fair value over, and until the end of, the QP, are estimated by reference to updated forward market prices for gold and copper as well as taking into account relevant other fair value considerations as set out in IFRS 13, including interest rate and credit risk adjustments. Revenue is recognized at the amount the entity expects to be entitled. The price expected to be received at the end of the quotation period is generally set at the month of shipment or delivery according to the terms of the contracts, using the most recently determined estimate of metal in concentrate (based on initial assay results) and the estimated forward price. The requirements in IFRS 15 on constraint estimates of variable consideration are also applied to determine the amount of variable consideration that can be included in the transaction Price. Sales for copper, silver and the subsequent changes in fair value of the trade receivable are presented in the caption “Other operating revenue”. (iv) Interest income - For all financial instruments measured at amortized cost, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the consolidated statements of comprehensive income. As of December 31, 2020, 2019 and 2018 this caption mainly includes interest from short-term money market funds and interest from current bank accounts for an amount of US$8,100, US$18,430 and US$11,448, respectively.
Benefits to employees	(o) Benefits to employees - In accordance to Peruvian laws, employees are entitled to receive one month paid vacation per year and one-month salary bonus paid in July and December. In addition, employees are entitled to receive one -month salary per year (approximately) as severance indemnity which are deposited in advance with a bank elected by the employee. If employees are dismissed without cause, they are entitled to a mandatory severance pay that is set at 1.5 monthly salaries for each year of service. The maximum severance payment is twelve salaries. Salaries and wages, bonuses, post-employment benefits and vacations are calculated in accordance with IAS 19, "Employee Benefits" and are calculated in accordance with current Peruvian legislation based on the accrual basis.
Worker's profit sharing	(p) Workers’ profit sharing - The Company recognizes workers’ profit sharing in accordance with IAS 19, “Employees Benefits". Workers' profit sharing is calculated in accordance with the Peruvian law (Legislative Decree No. 892), and the applicable rate is 8% over the taxable net base of current year. According to Peruvian law, the limit in the workers' profit sharing that an employee can receive is equivalent to 18 months of wages, and any excess above such limit has be transferred to the Regional Government and “National Fund for Employment’s Promotion and Training” (FONDOEMPLEO). The workers’ profit sharing is recorded as part of cost applicable to sales, see note 18.
Taxes	(q) Taxes - Current income tax - Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from, or paid to, the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in Peru. Current income tax relating to items recognized directly in other comprehensive income or equity is recognized in other comprehensive income or equity and not in profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations where applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred income tax - The Company accounts for income and mining taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates a net deferred income tax liability or net deferred income tax asset for the Company, as measured by the statutory tax rates that have been enacted or substantively enacted by the end of the reporting period. The Company derives its deferred income tax charge or benefit by recording the change in the net deferred income tax liability or net deferred income tax asset balance for the year, based on Peruvian income and mining tax laws. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences, and the carry-forward of unused tax credits can be utilized. Deferred tax related to items recognized in other comprehensive income or equity is recognized in other comprehensive income or equity and not in profit or loss. Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Peruvian mining royalties and special mining tax – In accordance with Law No. 28258, as amended by Law No. 29788, mining royalties are payable as the higher of either as a specified percentage of operating profit or 1% of revenues. If the mining royalty is calculated as a percentage of operating profit, marginal rates ranging from 1% to 12% that increase progressively for companies with higher operating margins will apply. Mining royalties and special mining tax are accounted for in accordance with IAS 12 "Income Tax" because they have the characteristics of an income tax. This is considered to be the case when they are imposed under government authority and the amount payable is based on taxable income-rather than physical quantities produced or as a percentage of revenue-after adjustment for temporary differences. Legal rules and rates used to calculate the amounts payable are those in effect on the date of the consolidated statements of financial position. Therefore, obligations arising from Mining Royalties and Special Mining Tax are recognized as income tax under the scope of IAS 12. Both, Mining Royalties and Special Mining Tax generated deferred tax assets and liabilities which must be measured using the average rates expected to apply to operating profit in the quarter in which the Company expects to reverse temporary differences. Value added tax - Expenses and assets are recognized net of the amount of sales tax, except: (i) When the sales tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the sales tax is recognized as part of the cost of acquisition of the asset or as part of the expense item, as applicable; (ii) When receivables and payables are stated with the amount of sales tax included. The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statements of financial position. The net amount to be recovered, or payable, to the Tax authority is included as a sale receivable or payable in the consolidated statements of financial position. Uncertainty over Income Tax Treatment – The Company determines whether it considers each uncertain tax treatment separately or in conjunction with one or more other uncertain tax treatments based on the approach that best predicts the resolution of the uncertainty. The Company perform judgments and estimates when there is uncertainty regarding the income tax treatments. The Company considers that it has uncertain tax positions, particularly those related to the depreciation of fixed assets outside the scope of the feasibility study, sales commissions with unrelated companies and various computer services. The Company determined, based on its tax compliance and transfer pricing study, that its tax treatments are likely to be accepted by the tax authorities.
Fair value measurement	(r) Fair value measurement - The Company measures its financial instruments, such as, derivatives and embedded derivatives, at fair value as of the date of the consolidated statements of financial position. Fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: - In the principal market for the asset or liability, or - In the absence of a principal market, in the most advantageous market for the asset or liability. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described, as follows, based on the lowest level input that is significant to the fair value measurement as a whole: - Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities. - Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. - Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For assets and liabilities that are recognized in the consolidated statements of financial position on a recurring basis, the Company determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest-level input that is significant to the fair value measurement as a whole) at the end of each reporting period. The Company’s Management determines the policies and procedures for both recurring fair value measurement and non-recurring measurement. At each reporting date, the Company’s Management analyzes the movements in the values of assets and liabilities which are required to be re-measured or re-assessed as per the Company’s accounting policies. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.
Intangible assets including computer software	(k) Intangible assets including computer software - Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization (calculated on a straight-line basis over their useful lives). The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite live are amortized over their useful economic lives and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the consolidated statements of comprehensive income in the expense category that is consistent with the function of the intangible assets. All intangible assets of the Company have finite lives. Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statements of comprehensive income when the asset is derecognized. For the years ended December 31, 2020, 2019 and 2018, the amortization amount of intangible assets amounted to US$3 million, US$3 million and US$4.1 million, respectively.
Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Basis of presentation	(a) Basis of presentation - The financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The financial statements have been prepared based on historical cost, except for accounts receivable and/or payable related to embedded derivatives, which have been measured at fair value (see Note 2(d)). The financial statements are presented in United States dollars (US$) and include the years ended December 31, 2020 and 2019. Unless otherwise indicated, all values have been rounded to the nearest thousand.
Changes in accounting policies and disclosures	(r) Changes in accounting policies and disclosures – Below is a summary of the changes in accounting policies and applicable disclosures for the year 2020: - Amendments to IAS 1 and IAS 8: Definition of Material - In October 2018, the IASB issued amendments to IAS 1, “Presentation of Financial Statements” and IAS 8, “Accounting Policies, Changes in Accounting Estimates and Errors” to align the definition of “material” across the standards and to clarify certain aspects of the definition. The new definition states that, “information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.” The amendments had no impact on the Company’s financial statements. - - The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. The revised Conceptual Framework includes some new concepts, provides updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. These amendments had no impact on the Company’s financial statements. - On May 28, 2020, the IASB issued an amendment to IFRS 16, “Leases” for COVID-19 related rent concessions. The amendment provides relief to lessees on applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the COVID-19 pandemic. As a practical expedient, a lessee may elect not to assess whether a COVID-19 related rent concession from a lessor is a lease modification. A lessee that makes this election accounts for any change in lease payments resulting from the COVID-19 related rent concession the same way it would account for the change under IFRS 16, if the change were not a lease modification. This amendment had no impact on the Company’s financial statements. Several other amendments and interpretations were first applied in 2020, but they had no impact on the Company's financial statements and therefore have not been revealed. The Company has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.
Use of judgments, estimates and assumptions	(b) Use of judgments, estimates and assumptions - The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions in order to determine the amounts of the assets and liabilities, and the disclosure of contingent assets and liabilities as of December 31, 2020 and 2019, and the amounts of reported revenues and expenses for the years ended December 31, 2020, 2019 and 2018. Information about significant judgments, estimates and assumptions made by Management in the preparation of the financial statements follows: (b.1) Judgments - (i) Contingencies - By their nature, contingencies will be resolved only when one or more uncertain future events occur or fail to occur. The assessment of the existence and potential amount of contingencies inherently involves the exercise of significant judgment and the use of estimates regarding the outcome of future events. (ii) Stripping cost - The Company incurs waste removal costs (stripping costs) during the development and production phases of its surface mining operations. Production stripping costs can be incurred both in relation to the production of inventory in that period and the creation of improved access and mining flexibility in relation to ore to be mined in the future. The waste removal cost is included as part of the costs of inventory, while the production stripping costs are capitalized as a stripping activity asset, as part of the “property, plant and equipment” caption, if certain criteria are met. Once the Company has identified its production stripping for its surface mining operation, it identifies the separate components of the ore body. An identifiable component is a specific volume of the ore body that is made more accessible by the stripping activity. Significant judgment is required to identify and define these components, and to determine the expected volumes (e.g., in tons) of waste to be stripped and ore to be mined in each of these components. (b.2) Estimates and assumptions - (i) Determination of mineral reserves - Mineral reserves are the part of a mineral deposit that can be economically and legally extracted from the mine concessions. The Company estimates its mineral reserves based on information compiled by individuals qualified in reference to geological data about the size, depth and form of the ore body, and requires geological judgments in order to interpret the data. The estimation of recoverable reserves involves numerous uncertainties with respect to the ultimate geology of the ore body, including quantities, grades and recovery rates. Estimating the quantity and grade of mineral reserves requires the Company to determine the size, shape and depth of the ore body by analyzing geological data. In addition to the geology, assumptions are required to determine the economic feasibility of mining the reserves, including estimates of future commodity prices and demand, future requirements of capital and production costs, and estimated exchange rates. Revisions in reserve or resource estimates have an impact on the value of mining properties, property, plant and equipment, provisions for cost of mine closure, recognition of assets for deferred taxes and depreciation and amortization of assets. (ii) Units of production depreciation - Estimated mineral reserves are used in determining the depreciation and/or amortization of mine-specific assets. This results in a depreciation/amortization charge proportional to the depletion of the anticipated remaining life-of-mine production. The life of each item, which is assessed at least annually, is impacted by both its physical life limitations and present assessments of economically recoverable reserves of the mine property at which the asset is located. These calculations require the use of estimates and assumptions, including the amount of recoverable reserves. (iii) Provision for remediation and mine closure - The Company assesses its provision for remediation and mine closure quarterly. It is necessary to make estimates and assumptions in determining this provision, including cost estimates of activities that are necessary for the rehabilitation of the site, technological and regulatory changes, interest rates and inflation rates. As discussed in Note 2(j), estimated changes in the fair value of the provision for remediation and mine closure or the useful life of the related assets are recognized as an increase or decrease in the book value of the provision and related asset retirement cost (ARC) in accordance with IAS 16, “Property, Plant and Equipment.” According to the Company’s accounting policies, the provision for remediation and mine closure represents the present value of the costs that are expected to be incurred in the closure period of the operating activities of the Company. Closure budgets are reviewed regularly to take into account any significant change in the studies conducted. Nevertheless, the closure costs of mining units will depend on the market prices for the closure work required, which would reflect future economic conditions. Also, the timing of disbursements depends on the useful life of the mine, which are based on estimates of future commodity prices. If any change in the estimate results in an increase to the provision for remediation and mine closure and related ARC, the Company considers whether or not this is an indicator of impairment of the assets and applies impairment tests in accordance with IAS 36, “Impairments of Assets.” (iv) Inventories - Net realizable value tests are performed at least annually and represent the estimated future sales price of the product based on prevailing spot metals prices, less estimated costs to complete production and bring the inventory to sale. Additionally, in calculating the net realizable value of the Company’s long-term stockpiles, Management also considers the time value of money. Mill and leach stockpiles generally contain lower grade ores that have been extracted from the ore body and are available for copper recovery. Mill stockpiles contain sulfide ores and recovery of metal is through milling and concentrating. Leach stockpiles contain oxide ores and certain secondary sulfide ores and recovery of metal is through exposure to acidic solutions that dissolve contained copper and deliver it in solution to extraction processing facilities. Because it is generally impracticable to determine copper contained in mill and leach stockpiles by physical count, reasonable estimation methods are employed. The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records. Sampling and assaying of blast hole cuttings determine the estimated copper grades of material delivered to mill and leach stockpiles. Expected copper recovery rates for mill stockpiles are determined by metallurgical testing. The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately. Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, historical trends and other factors, including mineralogy of the ore and rock type. Total copper recovery in leach stockpiles can vary significantly depending on several variables, including type of copper recovery, mineralogy and the size of the rock. For newly placed material of active stockpiles, as much as 80 percent of total copper recovery may be extracted during the first year, and the remaining copper may be recovered over many years. Processes and recovery rates are monitored continuously, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes. (v) Asset impairment - Management has determined that the Company’s operations consist of one cash generating unit. The Company’s operations are evaluated at least annually in order to determine if there are impairment indicators. If any such indication exists, the Company makes an estimate of the recoverable amount, which is the higher of (i) the fair value less costs of disposal or (ii) the value in use. These assessments require the use of estimates and assumptions, including long-term commodity prices, discount rates, operating costs, and others. Fair value is defined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between willing and knowledgeable parties. The fair value of assets is generally determined as the current value of future cash flows derived from the continuous use of the asset, which includes estimates, such as the cost of future expansion plans and eventual disposal, while applying assumptions that an independent market participant may take into account. The cash flows are discounted by applying a discount rate that reflects the current market, the time value of money and the risks specific to the asset.
Functional and reporting currency	(c) Functional and reporting currency - The financial statements are presented in United States (US) dollars, which is also the Company’s functional currency. Transactions and balances in foreign currency Foreign currency transactions are those carried out in a currency other than the functional currency. Foreign currency transactions are translated into the functional currency by applying the exchange rate in force on the date the transaction takes place. Monetary assets and liabilities denominated in foreign currencies are converted using the functional currency spot rate in force at the reporting date. Gains and losses as a result of the difference in the exchange rate when currency items are liquidated or when converting currency items at exchange rates that are different from those used for their initial recognition are recognized in the statements of comprehensive income of the period. The Company uses Peruvian Sol (S/) exchange rates published by the Superintendent of Banks, Insurance and Pension Fund Administrators. The published exchange rates were S/3.618 for US$1 for buying and S/3.624 for US$1 for selling as of December 31, 2020, and S/3.311 for US$1 buying and S/3.317 for US$1 for selling as of December 31, 2019. These rates have been applied to the appropriate asset and liability accounts.
Financial assets	(d) Financial assets – Initial recognition and measurement - At initial recognition, financial assets are classified and measured at either amortized cost fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company´s business model for managing them. With the exception of trade receivables that do not contain a significant financing component, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component are measured at the transaction price determined under IFRS 15, “Revenue from Contracts with Costumers.” The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets or both. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the marketplace (regular way trades) are recognized on the trade date. Cash and cash equivalents - Cash and cash equivalents are financial assets that may be liquidated immediately, such as bank checking accounts, and other liquid investments with original maturities of three months or less. Accounts Receivables - The Company’s receivables include current and long-term trade and other accounts receivable. These receivables are stated at their transaction value, net of an allowance for expected credit lose. Trade accounts receivable are generated primarily from the Company’s concentrate and cathode sales, are denominated in US dollars, have current maturities, do not bear interest and have no specific guarantees. Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Subsequent measurement - For purposes of subsequent measurement, financial assets are classified in two categories: - Financial assets at amortized cost (debt instruments). - Financial assets at fair value through profit or loss. Financial assets at amortized cost (debt instruments) - This category is the most relevant to the Company. The Company measures financial assets at amortized cost if both of the following conditions are met: - The financial asset is held within a business model with the objective to collect contractual cash flows, and - The contractual terms of the financial asset give rise, on specified dates, to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to impairment. Gains and losses are recognized in the statements of comprehensive income when the asset is derecognized, modified or impaired. This category generally applies to trade and other receivables, net. Financial assets at fair value through profit or loss - Financial assets at fair value through profit or loss include financial assets held for trading, financial assets designated upon initial recognition at fair value through profit or loss or financial assets mandatorily required to be measured at fair value. Financial assets are classified as held for trading if they are acquired for the purpose of selling or repurchasing in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Financial assets with cash flows that are not solely payments of principal and interest are classified and measured at fair value through profit or loss, irrespective of the business model. Financial assets at fair value through profit or loss are carried in the statements of financial position at fair value with net changes in fair value recognized in the statements of comprehensive income. Embedded derivatives - Copper Sales - The Company’s copper sales are provisionally priced at the time of shipment. The provisional prices are finalized in a specified future month based on quoted London Metal Exchange (LME) monthly average prices. The Company receives market prices based on prices in the specified future month, which results in price fluctuations recorded through revenues until the date of settlement. The Company recognizes revenues and invoices customers when it transfers control, which is at the time of shipment, based on then-current LME prices, which results in an embedded derivative that is required to be separated from the main contract. The Company’s embedded derivatives from sales are measured at fair value (based on LME spot copper prices) and presented as gains/losses on provisionally priced trade receivables. Molybdenum Sales - The Company’s molybdenum sales are also provisionally priced at the time of shipment. The Company recognizes revenues and invoices customers when it transfers control, which is at the time of shipment, based on the arithmetic mean of the high and low Metals Week Dealer Oxide (MWDO) price. The provisional prices are finalized in a future month, according to the period of quotation, which results in price fluctuations recorded through revenues until the date of settlement, which also results in an embedded derivative that is required to be separated from the main contract. Derecognition - A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is primarily derecognized when: - The rights to receive cash flows from the asset have expired; or - The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass-through arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset or, (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if and to what extent, it has retained the risk and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognize the transferred asset to the extent of the Company´s continuing involvement. In that case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained. Impairment of financial assets - The Company recognizes an allowance for expected credit losses for all debt instruments not held at fair value through profit or loss. Expected credit losses are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. Expected credit losses are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, expected credit losses are provided for credit losses that result from default events that are possible within the next 12‑months (12‑month expected credit losses). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (lifetime expected credit losses). For trade receivables and contract assets, the Company applies a simplified approach in calculating expected credit losses. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on the financial asset’s lifetime expected credit losses at each reporting date. The Company considers a financial asset in default when contractual payments are 180 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
Inventories	(f) Inventories - Inventories are stated at the lower of cost or net realizable value. Inventory of materials and supplies, as well as saleable products and in-process inventory are determined using the weighted-average cost method. The cost of finished goods and in-process inventory (i.e., stockpiles) includes labor and benefits, supplies, energy and other costs related to the mining and processing of minerals. Net realizable value tests of saleable products and in-process inventory are performed at each reporting date and represent the estimated future sales price using forward metal prices (for the period they are expected to be processed in), less estimated costs to complete production and bring the inventory to sale. The current portion of work-in-process is determined based on the amount the Company expects to process in the next twelve months. Inventories that are not expected to be processed in the next twelve months are classified as long-term inventories. No adjustments to inventories were required as of December 31,2020 and 2019. Provision for obsolescence - Obsolescence allowances are established based on an item-by-item analysis by management. Any amount of obsolescence identified is charged to the statements of comprehensive income in the period it is deemed to have occurred.
Property, plant and equipment	(g) Property, plant and equipment - Property, plant and equipment are valued at historical cost, including costs that are directly attributed to the construction or acquisition of the asset, net of accumulated depreciation, amortization and impairment. The initial cost of an asset comprises its purchase price or construction cost, any costs directly attributable to bringing the asset into operation, the initial estimate of the obligation for mine closure, and borrowing costs for qualifying assets. Repairs and/or improvements that increase the economic life of an asset and for which it is probable that there will be future economic benefit to the Company, are recorded as assets. All other maintenance costs are charged to expense as incurred. Land is not depreciated. Depreciation of assets directly related to the useful life of the mine is calculated using the units-of-production (UOP) method based on the mine’s proven and probable copper reserves. Other assets are depreciated using the straight-line method based on the following estimated useful lives: Years Buildings and other constructions Between 5 and 35 Machinery and equipment Between 2 and 30 Transportation units Between 5 and 7 Furniture and fixtures Between 7 and 10 Other equipment Between 3 and 25 Critical spare parts and other parts which are directly identified with machinery or equipment are included in property, plant and equipment, and the economic life corresponds to the main asset with which they are identified. An item of property, plant and equipment is retired at the time of its disposal or when no future economic benefits are expected from its use or subsequent disposition. Any gain or loss arising at the time of retirement is calculated as the difference between the proceeds from the sale and the book value of the asset and is included in the statements of comprehensive income in the period the asset is retired. The residual value and useful economic lives of the Company’s property, plant and equipment are reviewed, and adjusted if appropriate, at each year end. Impairment - At each reporting date, the Company evaluates if there is any indication that an asset could be impaired. If such an indication exists, the Company estimates the recoverable amount of the asset. The recoverable amount of an asset is the greater of (i) its fair value less costs to sell or (ii) its value in use and is determined for the assets of the mine as a whole, since there are no assets that generate cash revenues independently. When the book value of an asset exceeds its recoverable amount, the asset is considered impaired and is reduced to its recoverable amount. When evaluating the value in use, the future estimated cash flows are discounted to their present value using an after-tax discount rate that reflects current market evaluations of the time value of money and the specific risks to the asset. Losses resulting from the impairment of assets are recognized in the statements of comprehensive income under the categories of expenses consistent with the function of the impaired asset. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. The revised valuation cannot exceed the book value that would have been determined, net of depreciation, if an impairment loss for the asset had not been recognized in a previous period. Such a reversal is recognized in the statements of comprehensive income. The Company did not identify any indicators of impairment for the years ended December 31, 2020 and 2019.
Leases	(h) Leases - The Company assesses all arrangements, at contract inception, to determine whether they are, or contain, a lease. A contract containing a lease conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company is a lessee but is not a lessor in any transactions. The Company applies a single recognition and measurement approach for all leases, except for short-term leases and low-value assets. The Company recognizes lease liabilities representing obligations to make future lease payments and right-of-use assets representing the right to use the underlying assets. (i) Right-of-use assets - The Company recognizes a right-of-use asset at the commencement date of the lease (i.e., the date when the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term or the estimated useful lives of the assets, as follows: Years Land 10 Buildings and other constructions Between 1 and 14 Machinery and equipment Between 3 and 14 The right-of-use assets are also subject to impairment. The Company did not make any impairment adjustments as of December 31, 2020 and 2019. (ii) Lease liabilities - At the commencement date of the lease, the Company recognizes a lease liability measured at the present value of lease payments to be made over the lease term. The lease liability is re-measured when there is a change in future lease payments arising from a change in an index or a rate, if there is a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase option, termination option or extension option is reasonably certain to be exercised. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is generally not readily determinable. After the commencement date, lease liabilities are increased to reflect the accretion of interest and reduced for the lease payments made.
Exploration and mine development costs	(j) Exploration, development and stripping costs - Exploration costs - Mineral exploration costs, as well as drilling and other costs incurred for the purpose of converting mineral resources to proven and probable reserves or identifying new mineral resources at development or production stage properties, are charged to the statements of comprehensive income as incurred. Development costs - Development costs are capitalized when the economic and technological feasibility of the project is confirmed, which is generally when the development or project has reached a milestone in accordance with a model established by management. Stripping cost - In accordance with IFRIC 20, “Stripping Cost in the Production Phase of a Surface Mine,” stripping costs incurred in the production phase are capitalized as a component of property, plant and equipment (see Note 2 (b.1) and 7) if the stripping activity improves access to the ore body or enhances an existing asset. The stripping activity asset is subsequently amortized using the UOP method over the component of the ore body benefitted.
Provisions	(k) Provisions - General - A provision is recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that resources of the Company will be required to settle the obligation, and an estimate of the amount of the obligation can be calculated. The expense relating to any provision is presented in the statements of comprehensive income, net of any reimbursement, in the period the provision is established. If the effect of the time value of money is significant, provisions are discounted by applying a discount rate that reflects, where applicable, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a financial expense in the statements of comprehensive income. Mine closure provision - The Company records a mine closure provision when a contractually or legally enforceable obligation arises. The Company estimates the present value of its future obligation for mine closure and increases the carrying amount of the related asset retirement cost (ARC), which is included in property, plant and equipment in the statements of financial position. Subsequently, the mine closure provision is accreted to full value over time and recognized as an interest cost considered in the initial fair value estimate. The related ARC is depreciated using the UOP method over the life of the mine. The Company evaluates its mine closure provision on a quarterly basis and makes adjustments to estimates and assumptions, including scope, future costs and discount rates, as applicable. Changes in the fair value of the mine closure provision or the useful life of the related asset are recognized as an increase or decrease in the book value of the provision and the related ARC in accordance with IAS 16, “Property, Plant and Equipment.” Any decrease in the mine closure provision and related ARC cannot exceed the current book value of the asset; amounts over the current book value are recorded in the statements of comprehensive income.
Revenue recognition	(l) Revenue recognition - The Company primarily sells copper concentrate and copper cathode in accordance with sales contracts entered into with its customers. Revenues from contracts with customers comprise the fair value of the sale of goods, net of related general sales taxes. Revenue from contracts with customers is recognized when control of goods or services are transferred to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods. The Company has concluded that it acts as the principal in its revenue contracts because it normally controls the goods before transferring them to its customers. The transfer of control is determined in accordance with the terms of each of the contracts entered into with the Company's customers; generally, under such contracts, the transfer of control occurs at the time of shipment or delivery of the goods, including transportation. The Company considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated. The Company consider that the only performance obligation is the delivery of the goods. In determining the transaction price for the sale of copper concentrates and copper cathode, the Company considers the effect of variable consideration and the existence of significant financing components. Revenues from the sale of copper concentrates and cathodes are recorded net of commercial deductions. Commercial deductions include price adjustments for treatment and refining charges and may include certain penalties that, according to the applicable contract, are deducted from the international spot price, and that are incurred after the time of sale of the applicable concentrate. The Company considers these deductions as part of the transaction price. The normal credit term is within 30 days after the fulfillment of the terms of the contract. Variable consideration - If the consideration in the contract includes a variable amount, the Company estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration is subsequently resolved. The Company's sales of copper concentrates and cathodes allow for price adjustments based on the market price at the end of the trading period stipulated in the contract. These are called provisional pricing agreements in which the selling price of the copper is settled in a contractually specified future month based on quoted monthly average copper settlement prices. Sales price adjustments occur based on movements in quoted market prices until the end of the trading period. The period between provisional billing and the end of the listing period can generally range from three to six months. In addition, the Company's sales of copper concentrates and cathodes are also subject to slight variations in their amount that may occur while the goods are in transit to their destination as a result of variations in moisture, weight and mineral grades. These variations are recognized directly as part of “Revenues” once the Company reaches an agreement with the corresponding customer regarding the final amounts sold. Sales of copper concentrates and cathodes at provisional prices include a gain (loss) to be received at the end of the trading period; this is considered a variable consideration. Changes in price during the listing period are recognized within “Revenues.” For provisional pricing arrangements, any future changes to the QP (Quotation Period) are embedded within provisionally priced trade receivables and therefore are within the scope of IFRS 9, “Financial Instruments” and not within the scope of IFRS 15. Given the exposure to the price of raw materials, trade receivables with a provisional price will not pass the test of cash flow characteristics within IFRS 9 and will be required to be measured at fair value with changes in the statement of comprehensive income from the initial recognition and until the settlement date. Subsequent changes in fair value are recognized in the statement of comprehensive income for each period. Changes in fair value during and until the end of the trading period are estimated by reference to the updated forward market prices for copper, as well as taking into account other relevant fair value considerations established in IFRS 13, “Fair Value Measurement,” including adjustments for interest rate and credit risk. Revenue is recognized at the amount the entity expects to be entitled. The estimated price that is expected to be received at the end of the quotation period is generally the shipping or delivery month price, according to the terms of the contracts and using the most recently determined estimate of metal in concentrate (based on initial assay results) and the estimated forward price. The requirements in IFRS 15 on constraint estimates of variable consideration are also applied to determine the amount of variable consideration that can be included in the transaction price. Significant financing components - The Company receives short-term advances from its customers. Using the practical expedient in IFRS 15, the Company does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good to the customer and when customer pays for that good will be one year or less. Contract balances - Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company transfers goods or services to a customer before the customer pays for those goods or services or before payment is due, a contract asset is recognized for the earned consideration that is conditional. The Company does not have any contract assets as performance and a right to consideration occurs within a short period of time and all rights to consideration are unconditional. Trade receivables A receivable represents the Company’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Refer to Note 2(d) for accounting policies for financial assets. Contract liabilities A contract liability is the obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. If a customer pays before the Company transfers goods or services to the customer, a contract liability is recognized when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Company performs under the contract.
Benefits to employees	(n) Benefits to employees - Salaries and wages, bonuses, severance, vacation benefits, separations benefits and post-employment benefits are calculated in accordance with IAS 19, "Employee Benefits" and current Peruvian legislation. Worker’s profit sharing - The Company recognizes worker’s profit sharing in accordance with IAS 19. Worker’s profit sharing is calculated in accordance with Peruvian laws (Legislative Decree No. 892), and the Company’s worker’s profit sharing rate is 8% over the net taxable base of the current year. According to Peruvian law, the limit in the worker’s profit sharing that an employee can receive is equivalent to 18 months of wages, and any excess above such limit is transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO). The Company’s worker’s profit share is recognized as a liability in the statements of financial position and as an operating expense in the statements of comprehensive income. The long term portion of “Provision related to benefits to employees” in the statement of financial position, is the best estimate of the liability that resulted from the application of the tax limits determined by the Tax Administration in the review of the income tax calculation of previous years. This liability will be paid once the claim process has concluded in the corresponding legal instances.
Borrowing costs	(o) Borrowing cost - Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as finance costs as part of the asset. A qualifying asset is one whose value is greater than US$ 1 million and requires at least 12 months to be ready for its intended use. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that the Company incurs in connection with the borrowing of funds.
Taxes	(m) Income taxes, deferred taxes and other taxes - Income taxes - Income tax assets and liabilities are measured at the amounts expected to be paid to or recovered from the tax authorities. The amount of current tax payable or receivable is the best estimate of the tax amount to be paid or received that reflects uncertainty related to income taxes, if any. The tax rates and tax laws that are applied to compute the amounts are those that are enacted or substantially enacted at the end of the reporting period. The Company calculates the provision for income tax in accordance with the Peruvian tax legislation in force. For the years ended December 31, 2020, 2019 and 2018, the Company was subject to an income tax rate of 32% (see Note 13(b)). Deferred Taxes - Deferred taxes are presented using the liability method for differences between the tax basis of assets and liabilities and their book value for financial reporting purposes. Deferred tax liabilities are recognized for all taxable differences. Deferred tax assets are recorded for all deductible differences when there is a probability that there could be taxable earnings against which the deductible difference could be applied. The book value of deferred tax assets is reviewed at the end of each period and reduced to an amount that is more likely than not to be realized against taxable earnings. Deferred tax assets that are not recognized are reassessed each period and are recognized when it is more likely than not that those future taxable earnings will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at tax rates that are expected to be applicable during the year when the assets are realized or the liabilities are liquidated, based on the tax rates (and tax laws) that have been enacted or substantively enacted at the end of the period, and reflects uncertainty related to income taxes, if any. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset tax assets against tax liabilities and the deferred tax is related to the same entity and the same tax authority. Mining Taxes - On September 29, 2011, Law 29788 (which amended Law 28528) was enacted creating a new mining tax and royalty regime in Peru. Under the new regime, companies are subject to the payment of royalties and a special mining tax. Under the terms of its current 15-year stability agreement (see Note 13(a)), which became effective January 1, 2014, the Company is subject to mining royalties and a special mining tax for all of its mining production (see Note 13(d)). The amount to be paid for the mining royalty will be the greater of a progressive rate of the quarterly operating income or 1% of quarterly sales. Mining royalties calculated on sales is presented in “Other operating expenses .” Supplementary Retirement Fund - On July 9, 2011, Law 29741 was enacted and established a Mining, Metallurgical and Steel Supplementary Retirement Fund (SRF), which is a social security retirement fund for mining, metals and steel industry workers. Under the terms of its current 15‑year stability agreement, the Company is subject to SRF, which is calculated as 0.5% of net taxable income. Uncertainty about the treatment of income taxes - The Company determines whether it considers each uncertain tax treatment separately or in conjunction with one or more other uncertain tax treatments based on the approach that best predicts the resolution of the uncertainty. The Company makes judgments and estimates when there is uncertainty regarding the income tax treatments. The Company has uncertain tax positions, particularly those related to the depreciation of fixed assets outside the scope of the feasibility study, tailing dam, sales commissions with non-related companies and miscellaneous IT services. The Company determined, based on its tax compliance and transfer pricing study, that its tax treatments are likely to be accepted by the tax authorities (See Note 6(a) and 11(e)).
Fair value measurement	(p) Fair value measurement - The Company measures embedded derivatives at fair value as of each date presented in the statements of financial position. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described, as follows, based on the lowest level input that is significant to the fair value measurement as a whole: - Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities. - Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. - Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above .
Financial liabilities	(e) Financial liabilities - All financial liabilities are recognized initially at fair value and in the case of accounts payable and other financial liabilities, net of directly attributable transaction costs. The Company´s financial liabilities include loans, trade and other payables and other financial liabilities. Loans - Loans are initially recognized at their fair value, net of directly attributable transaction costs. After initial recognition, loans are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the statements of comprehensive income when the liabilities are derecognized as well as through the amortization process. Amortized cost is calculated taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. Amortization under the effective interest rate method is included as financial costs in the statements of comprehensive income. Derecognition - A financial liability is derecognized when the associated obligation is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts are recognized in the statements of comprehensive income.
Intangible assets including computer software	(i) Intangible assets - Intangible assets are recorded at cost less accumulated amortization. After the initial recognition, the intangible assets are recorded at their cost less accumulated amortization and any accumulated loss for impairment of use, if applicable. The Company’s intangible assets primarily consist of concessions related to the operation of the port terminal, which are amortized over 20 years. For the years ended December 31, 2020 and 2019, amortization expense was US$1.0 million in both periods.
Earnings per share	(q) Basic and diluted earnings per share - Basic and diluted earnings per share have been calculated based on the weighted average number of common shares outstanding during the period. When the number of shares is modified because of capitalization of retained earnings, the net income per basic and diluted shares is adjusted retroactively for all of the periods reported. For the years ended December 31, 2020, 2019 and 2018, the Company did not have any financial instruments with dilutive effects; as a result, the basic and diluted shares are the same in all periods presented.
Standards issued but not effective	(s) Standards issued but not effective - Below is a summary of the improvements and / or modifications to IFRS that are not yet effective, but would be applicable to the Company: - In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: · What is meant by a right to defer settlement · That a right to defer must exist at the end of the reporting period · That classification is unaffected by the likelihood that an entity will exercise its deferral right · That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification The amendments are effective for annual reporting periods beginning on or after January 1, 2023, and must be applied retrospectively. The Company is currently assessing the potential impact the amendments will have on current practice and whether existing loan agreements may require renegotiation. - In May 2020, the IASB issued “Property, Plant and Equipment - Proceeds before Intended Use,” which prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment is effective for annual reporting periods beginning on or after January 1, 2022, and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The Company is evaluating the potential impact of this amendment on its financial statements. - In May 2020, the IASB issued amendments to IAS 37, “Provisions, Contingent Liabilities and Contingent Assets,” to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach.” The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments are effective for annual reporting periods beginning on or after January 1, 2022. The Company will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. The Company is evaluating the potential impact of this amendment on its financial statements. - IFRS 9 Financial Instruments: fees in the ’10 percent’ test to assess whether to derecognize a financial liability - As part of the annual improvements to IFRS Standards 2018-2020, the IASB issued an amendment to IFRS 9. The amendment clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by the borrower or lender on behalf of the other. An entity applies the amendment to financial liabilities that are amended or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment. The amendment is effective for annual periods beginning on or after January 1, 2022, with early application permitted. The Company will apply the modifications to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity applies the modification for the first time. The Company is evaluating the potential impact of these modifications in its financial statements.

Identification and business a_2

Identification and business activity (Tables)	12 Months Ended
	Dec. 31, 2020
Identification and business activity
Schedule of significant investments in subsidiaries	The consolidated financial statements include the financial statements of the following companies: Country of incorporation Ownership as of December 31, and business 2020 2019 Direct Indirect Direct Indirect % % % % Mining activities: Compañía de Minas Buenaventura S.A.A. (*) Peru 100.00 — 100.00 — Compañía Minera Condesa S.A. Peru 100.00 — 100.00 — Compañía Minera Colquirrumi S.A. Peru 100.00 — 100.00 — Sociedad Minera El Brocal S.A.A (**) Peru 3.19 58.24 3.19 58.24 Inversiones Colquijirca S.A. (**) Peru 89.76 10.24 89.76 10.24 S.M.R.L. Chaupiloma Dos de Cajamarca Peru 20.00 40.00 20.00 40.00 Minera La Zanja S.R.L. Peru 53.06 — 53.06 — Minera Julcani S.A. de C.V. Mexico 99.80 0.20 99.80 0.20 Compañía de Minas Buenaventura Chile Ltda. (***) Chile 90.00 10.00 90.00 10.00 El Molle Verde S.A.C. Peru 99.98 0.02 99.98 0.02 Apu Coropuna S.R.L. Peru 70.00 — 70.00 — Cerro Hablador S.A.C. Peru 99.00 1.00 99.00 1.00 Minera Azola S.A.C. Peru 99.00 1.00 99.00 1.00 Compañía Minera Nueva Italia S.A. (liquidated) Peru — — — 93.36 Energy generation and transmission services: Consorcio Energético de Huancavelica S.A. Peru 100.00 — 100.00 — Empresa de Generación Huanza S.A. Peru — 100.00 — 100.00 Insurance brokerage: Contacto Corredores de Seguros S.A. Peru 99.98 0.02 99.98 0.02 Contacto Risk Consulting S.A. Peru — 98.00 — 98.00 Industrial activities: Procesadora Industrial Río Seco S.A. Peru 100.00 — 100.00 — (*) Includes four operating mining units in Peru (Uchucchacua, Orcopampa, Julcani and Tambomayo), two discontinued mining units (Poracota and Shila-Paula), and one mining unit under development stage (San Gabriel) (**) As of December 31, 2020 and 2019, the participation of the Company in the voting rights of El Brocal is 61.43 percent. Inversiones Colquijirca S.A. (hereafter “Colquijirca”), a Group’s subsidiary (99.99 percent as of December 31, 2020 and 2019), has an interest in El Brocal’s capital stock, through which the Company holds an indirect participation in El Brocal of 58.24 percent as of December 31, 2020 and 2019. (***) On January 21, 2021, the Company sold 100% of its shares of Compañía de Minas Buenaventura Chile Ltda., which were presented as financial investments as of December 31, 2020. The sale value was US$30,000 which are fully collected as of the date of this report.
Schedule of net cash flows used by the mining units with discontinued operations	The net cash flows used by the mining units with discontinued operations are presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Operating activities — (2) 1,800 Investing activities — — (1,817) Decrease in cash and cash equivalents for the year — (2) (17)
Schedule of results of the discontinued operations mining units	The results of the discontinued operations mining units for the years 2020, 2019 and 2018 are presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Sales (1) 97 16,666 Cost of sales — (2) (15,261) Gross profit (loss) (1) 95 1,405 Operating income (expenses), net Income from sale of development costs, property, plant and equipment (sale of Mallay mining unit) 7,976 — — Reversal of provision for closure of mining unit (sale of Mallay mining unit), nota 15(b) 5,093 — — Reversal of provision for impairment of value of inventory (sale of Mallay mining unit), note 8(c) 1,220 — — Income from sale of supplies (sale of Mallay mining unit) 606 — — Reversal (provision) of contingent and others 13 (134) (9) Cost of sale of development costs, property, plant and equipment, nota 11(a) (3,099) (44) (5,100) Administrative expenses (3,243) (8,048) (1,661) Cost of sale of supplies (sale of Mallay mining unit) (1,711) — — Provision for impairment of value of inventory, note 8(c) (377) (320) — Changes in provision for closure of mining units (58) (1,912) (6,013) Reversal of Impairment loss of long-lived assets, note 11(b) — — 2,837 Others, net (846) 117 (3,162) Total operating expenses, net 5,574 (10,341) (13,108) Operating profit (loss) 5,573 (10,246) (11,703) Finance costs, note 15(b) (176) (266) (88) Net gain (loss) from currency exchange difference 12 (2) 30 Profit (loss) before income tax 5,409 (10,514) (11,761) Income tax — — (47) Profit (loss) from discontinued operations 5,409 (10,514) (11,808) Profit (loss) from the discontinued operations, per basic and diluted share, express in U. S. dollars 0.03 (0.04) (0.03)
Summary of unabsorbed cost due to production stoppage	2020 2019 US$(000) US$(000) Services provided by third parties 13,885 — Direct labor 11,057 — Supplies 2,816 — 27,758 —

Basis for preparation, consol_3

Basis for preparation, consolidation and accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Basis for preparation, consolidation and accounting policies
Schedule of useful lives of assets	Depreciation of assets in mining units with short useful lives or used for administrative purposes is calculated using the straight-line method of accounting. The useful lives are the following: Years Buildings, construction and other 6 to 20 Machinery and equipment 5 to 10 Transportation units 5 Furniture and fixtures 10 Computer equipment 4
Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Schedule of assets and liabilities originally denominated in Soles	As of December 31, 2020 and 2019, the Company presents the following assets and liabilities originally denominated in Soles by its equivalent in U.S. dollars: 2020 2019 US$(000) US$(000) Assets Cash and cash equivalents 6,242 5,140 Trade and other receivables 7,584 27,990 Value added tax credit 25,214 32,831 Total assets 39,040 65,961 Liabilities Trade and other payables 48,200 13,085 Income tax payable 37,779 23,153 Provisions, other accruals and liabilities 25,774 29,633 Total liabilities 111,753 65,871 Net asset (liability) position (72,713) 90
Schedule of useful lives of assets	The useful lives as follows: Land improvements Between 2 and 4 years Buildings and constructions Between 5 and 10 years Machinery and equipment Between 3 and 10 years Vehicles Between 3 and 4 years Furniture and fixtures Between 3 and 4 years Other equipment Between 3 and 4 years Computer equipment Between 3 and 4 years Leach pads and assets retirement and mine closure Useful life of the mine and (or) process facilities
Schedule of reclassifications of comparative information	2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of financial position Current liabilities Trade and other payables 76,484 (3,678) 72,806 Provision 90,940 (45,623) 45,317 Other accruals and liabilities — 49,301 49,301 Non-current liabilities Provision 1,587,856 (305) 1,587,551 Other accruals and liabilities — 305 305 2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provisions 30,082 (20,031) 10,051 Trade and other payables (6,980) (1,251) (8,231) Other accruals and liabilities — 21,282 21,282 Value added tax credit and other taxes (3,003) (13,488) (16,491) Income tax collected (paid) 19,239 (19,239) — Income tax payable 32,201 (32,201) — Current income tax expense — 64,928 64,928 Net cash and cash equivalents provided by operating activities 34,419 — 34,419 2018 2018 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provision (2,494) (123) (2,617) Trade and other payables 1,708 320 2,028 Other accruals and liabilities — (197) (197) Current income tax expense — 29,297 29,297 Value added tax credit and other taxes 13,856 (6,240) 7,616 Income tax payable 8,897 (8,897) — Income tax collected (paid) 14,160 (14,160) — Net cash and cash equivalents provided by operating activities 78,519 — 78,519
Schedule of income tax payable	Company reclassified Provision for US$3.6 million, now it is presented in the item Trade and other payable. 2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of financial position Current liabilities Trade and other payables 76,484 (3,678) 72,806 Provision 90,940 (45,623) 45,317 Other accruals and liabilities — 49,301 49,301 Non-current liabilities Provision 1,587,856 (305) 1,587,551 Other accruals and liabilities — 305 305 In addition, the Company reclassified Other accruals and liabilities for US$21 million and US$0.2 million in the statement of cash flows and also a reclassification to present in other line the income tax expense: 2019 2019 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provisions 30,082 (20,031) 10,051 Trade and other payables (6,980) (1,251) (8,231) Other accruals and liabilities — 21,282 21,282 Value added tax credit and other taxes (3,003) (13,488) (16,491) Income tax collected (paid) 19,239 (19,239) — Income tax payable 32,201 (32,201) — Current income tax expense — 64,928 64,928 Net cash and cash equivalents provided by operating activities 34,419 — 34,419 2018 2018 As previously reported Reclassifications Modified US$(000) US$(000) US$(000) Consolidated Statements of cash flows Operating activities Provision (2,494) (123) (2,617) Trade and other payables 1,708 320 2,028 Other accruals and liabilities — (197) (197) Current income tax expense — 29,297 29,297 Value added tax credit and other taxes 13,856 (6,240) 7,616 Income tax payable 8,897 (8,897) — Income tax collected (paid) 14,160 (14,160) — Net cash and cash equivalents provided by operating activities 78,519 — 78,519
Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Schedule of useful lives of assets	Years Buildings and other constructions Between 5 and 35 Machinery and equipment Between 2 and 30 Transportation units Between 5 and 7 Furniture and fixtures Between 7 and 10 Other equipment Between 3 and 25
Schedule of estimated useful lives of right of use assets	Years Land 10 Buildings and other constructions Between 1 and 14 Machinery and equipment Between 3 and 14

Transactions in soles (Tables)

Transactions in soles (Tables)	12 Months Ended
	Dec. 31, 2020
Transactions in soles
Schedule of assets and liabilities originally denominated	As of December 31, 2020 and 2019, the Group presents the following assets and liabilities originally denominated in soles by its equivalent in U.S. dollars: 2020 2019 US$(000) US$(000) Assets Cash and cash equivalents 8,606 6,796 Trade and other receivables 159,099 139,624 Income tax credit 19,837 31,919 187,542 178,339 Liabilities Trade and other payables (47,705) (60,311) Income tax payable (3,162) (5,650) Provisions, contingent liabilities and other liabilities (38,574) (41,515) (89,441) (107,476) Net asset position 98,101 70,863

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents
Schedule of cash and cash equivalents	(a) 2020 2019 US$(000) US$(000) Cash 173 304 Bank accounts (b) 185,276 37,836 Time deposits (c) 50,000 171,906 235,449 210,046 (b) (c)
Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Schedule of detailed information about cash and cash equivalents	(a) 2020 2019 US$(000) US$(000) Petty cash 22 22 Bank accounts 51,279 56,822 Term deposits (b) 819,628 761,659 870,929 818,503
Schedule of detailed information about term deposits balance	(b) 2020 2019 US$(000) US$(000) JP Morgan 404,319 501,916 Citibank 215,073 214,282 Santander 50,114 — BNP Paribas 50,080 45,461 Standard Chartered 50,031 — MUFG Bank 50,011 — 819,628 761,659
Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Schedule of detailed information about cash and cash equivalents	This item is made up as follows: December 31, December 31, 2020 2019 US$(000) US$(000) Cash in banks 3,910 10,119 Cash equivalents (a) 529,820 471,372 533,730 481,491 (a)

Related parties (Tables)

Related parties (Tables) - Sociedad Minera Cerro Verde S.A.A. [Member]	12 Months Ended
	Dec. 31, 2020
Disclosure Of Related Parties [Line Items]
Schedule of accounts receivable from related parties and accounts payable to related parties	Accounts receivable from related parties and accounts payable to related parties are made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Accounts receivable from related parties Parent Company FMC (a) 462,304 401,211 Other related parties Sumitomo (b) 16,352 10,760 Climax Molybdenum Marketing Corporation (c) 14,319 5,022 Embedded derivatives Embedded derivatives (d) 101,434 36,077 Total accounts receivable from related parties 594,409 453,070 Classification by measurement Accounts receivables from related parties (not subject to provisional pricing) 116,740 121,995 Accounts receivables from related parties (subject to provisional pricing) 376,235 294,998 Embedded derivatives (d) 101,434 36,077 594,409 453,070 December 31, 2020 December 31, 2019 US$(000) US$(000) Accounts payable to related parties Parent Company FMC — 367 Other related parties Freeport-McMoRan Sales Company Inc. 2,883 3,086 Minera Freeport-McMoRan South America Ltda 402 561 Freeport Cobalt OY 161 — Total accounts payable, short term 3,446 4,014 (a) (b) (c) (d)
Summary of the transactions with related entities that affected results (not including copper and molybdenum sales)	The following is a summary of the transactions with related entities that affected results (not including copper and molybdenum sales described in Note 14) for the year ended December 31, 2020 and 2019: December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Revenues Supplies 768 — — Demurrage 226 688 524 Reimbursement — 491 76 994 1,179 600 December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Expenses Reimbursement of information technology services 15,900 11,533 11,836 Commissions 7,801 8,953 8,292 Stock-based compensation (a) 2,259 1,560 1,174 Management fee 2,159 2,923 2,743 Supplies 492 908 1,133 Fixed assets and spare parts 14,265 28,611 25,877 39,443 (a)

Trade and other receivables, _2

Trade and other receivables, net (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other receivables, net
Schedule of trade and other receivables, net	This caption is made up as follows 2020 2019 US$(000) US$(000) Trade receivables, net (b) Domestic clients 129,283 141,005 Foreign clients 46,612 78,860 Related entities, note 30(b) 6,073 6,247 181,968 226,112 Allowance for expected credit losses (f) (22,128) (22,016) 159,840 204,096 Other receivables Tax claims (g) 62,373 44,014 Value added tax credit 44,389 54,328 Accounts receivables to third parties 28,277 31,478 Advances to suppliers 20,569 9,275 Tax deposits (d) 12,413 6,644 Due from for sales of assets (h) and note 1(e) 8,233 21,648 Interest receivable 2,648 3,244 Related entities, note 30(b) 2,312 2,967 Refund applications of value added tax (c) 581 1,657 Loans to personnel 408 1,128 Bank accounts in trust (e) 376 2,510 Dividends receivable — 2,501 Other minor 475 743 183,054 182,137 Allowance for expected credit losses (f) (9,717) (10,006) 173,337 172,131 Total trade and other receivables, net 333,177 376,227 Classification by maturity: Current portion 230,830 287,712 Non-current portion 102,347 88,515 Total trade and other receivables, net 333,177 376,227 Classification by nature: Financial receivables 288,207 320,242 Non-financial receivables 44,970 55,985 Total trade and other receivables, net 333,177 376,227 Classification by measurement: Trade receivables (not subject to provisional pricing) 33,287 38,550 Trade receivables (subject to provisional pricing) 126,553 165,546 Other accounts receivables 173,337 172,131 Total trade and other receivables, net 333,177 376,227 (b) (c) (d) (e)
Schedule of allowance for doubtful accounts	Below is presented the movement in the allowance for expected credit losses: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 32,022 32,102 32,184 Provision for trade receivables, note 24 126 — 18 Provision for other receivable, note 26 4 25 1,334 Provision of the period 130 25 1,352 Foreign exchange difference (307) 57 (173) Write off of the period — (162) (410) Reversals of the period, note 26 — — (45) Other minor — — (806) Final balance 31,845 32,022 32,102 Trade receivables 22,128 22,016 22,013 Other receivables 9,717 10,006 10,089 31,845 32,022 32,102
Schedule of restricted bank accounts for payments of financial obligation explanatory	Below is presented the movement: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 2,510 2,782 2,372 Increase — 166 410 Decrease (2,134) (438) — Final balance 376 2,510 2,782
Schedule of detailed information about forced payments of tax debts that are in litigation of other receivable	(g) Disbursement 2020 2019 Detail date US$(000) US$(000) Buenaventura - SUNAT seizure for payment on account from January to December 2009; January and February 2010. December 2019 33,240 36,321 Forced payment of part of the tax liability debt for fiscal year 2007. November and December 2020 19,918 — Inminsur's tax liability debt (absorbed by Buenaventura), by the inspection process for the years 1996-1997 and claimed in court. May 2017 1,403 1,412 Payment of the tax liability debt imputed by SUNAT in the IGV inspection process January-December 2014 to benefit from the gradual nature of the fine. November 2020 1,311 — Forced payment of part of the tax debt for fiscal year 2010. December 2020 498 — 56,370 37,733 Rio Seco - Forced payment of part of the VAT tax liability for 2012. July to September 2019 3,279 3,398 El Brocal - Payment under protest of the tax liability for fiscal year 2011. June 2014 2,303 2,517 Payment of the fine for the benefit of reducing the fine for fiscal year 2015. January 2020 402 — Other minor — 19 101 2,724 2,618 Consorcio Energético de Huancavelica S.A. - Payment of a fine for the benefit of reducing the fine for fiscal year 2011. July 2016 — 265 62,373 44,014
Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Schedule of trade and other receivables	(a) 2020 2019 US$(000) US$(000) Trade receivables, net Foreign clients (subject to provisional pricing) 16,919 683 Other receivables Credit of tax on net assets 21,676 23,648 Advances to suppliers 7,095 9,872 Related entities, note 24(c) 2,300 598 Tax claims 386 3,946 Other 2,728 5,247 34,185 43,311 Allowance for expected credit losses (b) (1,384) (1,384) 32,801 41,927 Total trade and other receivables, net 49,720 42,610 By maturity: Current 28,044 18,962 Non-current 21,676 23,648 Total 49,720 42,610 Classification by nature: Financial receivables 27,658 15,016 Non-financial receivables 22,062 27,594 49,720 42,610
Schedule of allowance for doubtful accounts	(b) 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 1,384 1,384 1,384 Additions/Deductions — — — Ending balance 1,384 1,384 1,384

Inventory, net (Tables)

Inventory, net (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory, net
Schedule of detailed information of inventories	This caption is made up as follows: 2020 2019 US$(000) US$(000) Finished goods 2,525 2,084 Products in process (b) 52,619 47,652 Spare parts and supplies 76,937 74,033 132,081 123,769 Provision for impairment of value of inventory (c) (31,117) (25,402) 100,964 98,367 Classification by use: Current portion 77,327 97,973 Non-current portion 23,637 394 100,964 98,367 (b) (c)
Schedule of impairment of assets	The provision for impairment of value of inventory had the following movement: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 25,402 23,163 11,603 Continuing operations: Provision for impairment of finished and in progress goods, note 21(a) 8,920 7,329 4,640 Reversal for impairment of finished and in progress goods, note 21(a) (3,866) (9,472) (119) Provision for impairment of spare parts and supplies, note 26(a) 17,266 15,703 11,704 Reversal for impairment of spare parts and supplies, note 26(a) (15,762) (11,641) (4,665) Sale of mining unit, note 1(e) (1,220) — — Discontinued operations, note 1(e): Provision for impairment of spare parts and supplies 1,220 843 — Reversal for impairment of spare parts and supplies (843) (523) — Final balance 31,117 25,402 23,163
Minera Yanacocha SRL and subsidiary [Member]
Inventory, net
Schedule of detailed information of inventories	(a) 2020 2019 US$(000) US$(000) Precious metals 12,559 8,021 Leach in-circuit 3,117 5,158 Mill in-circuit 2,093 1,332 Materials and supplies 41,123 45,832 58,892 60,343 Allowance for obsolescence of materials and supplies (b) (6,595) (6,098) 52,297 54,245
Schedule Of Detailed Information About Mineral Deposits Inventory	The allowance for obsolescence of material and supplies had the following movement during the years 2020, 2019 and 2018: 2020 2019 2019 US$(000) US$(000) US$(000) Opening balance 6,098 7,515 7,076 Provision for impairment of materials and supplies 1,459 1,898 1,887 Reversal of provision for impairment of materials and supplies (962) (3,315) (1,448) Ending balance 6,595 6,098 7,515
Sociedad Minera Cerro Verde S.A.A. [Member]
Inventory, net
Schedule of detailed information of inventories	This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Materials and supplies 368,996 348,035 Work-in-process (WIP) (a) 176,813 173,190 Finished goods: Copper concentrate 16,563 23,890 Copper cathode 3,826 6,321 Molybdenum concentrate 700 1,268 Less: Provision for obsolescence of materials and supplies (104) (507) 566,794 552,197 Non-current Work-in-process (WIP) (a) 301,075 255,123 Total inventories 867,869 807,320 (a)

Other non-financial assets (Tab

Other non-financial assets (Tables)	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of other non financial assets [Line Items]
Schedule of other non-financial assets	This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Value added tax (VAT) credit 40,300 27,414 Other taxes to be recovered 1,060 2,745 Income tax prepayments and/or benefits (a) — 75,521 41,360 105,680 Non-current Other receivables (b) 190,501 186,626 Income tax prepayments and/or benefits (a) 13,669 52,559 Other taxes to be recovered 1,457 — 205,627 239,185 Total other non-financial assets 246,987 344,865 (a) The balance as of December 31, 2020, represents income tax benefits from the years 2015 and 2016 determined in accordance with the IFRIC 23, “Uncertainty over Income Tax Treatments”. The balance as of December 31, 2019, represents disbursements made by the Company for the prepayment of income tax, which the Company expects to use to offset future tax obligations (see Note 13(b)) also includes income tax benefits from the years 2013 to 2018 as part of the adoption of IFRIC 23. During 2020, the Company applied a portion of this balance against the income tax payable as determined by the tax authority. (b) Represents disbursements made under protest by the Company in connection with disputed tax assessments related to reviews by SUNAT (Superintendencia Nacional de Administración Tributaria) from the years 2003 to 2012 (see Note 13(c) and 13(e)). According to current tax procedures and the timeframe for resolving these types of claims, management and its legal advisors expect resolution of this matter will be favorable to the Company and amounts will be recoverable.

Stockpiles and ore on leach p_2

Stockpiles and ore on leach pads, net (Tables) - Minera Yanacocha SRL and subsidiary [Member]	12 Months Ended
	Dec. 31, 2020
Disclosure of stockpiles and ore on leach pads [Line Items]
Schedule of stockpiles and ore on leach pads, net	(a) 2020 2019 US$(000) US$(000) Current portion - Stockpiles 7,363 23,769 Ore on leach pads 124,364 139,991 Net realizable value adjustment (b) (10,212) (28,837) 121,515 134,923 Non-current portion - Stockpiles 33,088 35,888 Ore on leach pads 39,674 88,223 Net realizable value adjustment (b) (3,075) (19,088) 69,687 105,023
Schedule of provision for net realizable value	(b) 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance, note 18 47,925 89,127 62,540 Provision 37,880 33,464 90,365 Reversal of provision (72,518) (74,666) (63,778) Ending balance, note 18 13,287 47,925 89,127

Prepaid expenses (Tables)

Prepaid expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Prepaid expenses
Schedule of prepaid expenses	(a) 2020 2019 US$(000) US$(000) Prepaid energy services(b) 25,692 26,582 Prepaid insurance 15,794 13,568 Deferred costs of works for taxes 4,855 4,138 Other prepaid expenses 4,174 2,373 50,515 46,661 Classification by maturity: Current portion 25,709 20,969 Non-current portion 24,806 25,692 50,515 46,661 (b)

Investments in associates and_2

Investments in associates and joint venture (Tables)	12 Months Ended
	Dec. 31, 2020
Investments in associates and joint ventures
Schedule of interests in associates and joint ventures	(a) Share in equity 2020 2019 2020 2019 % % US$(000) US$(000) Associates Sociedad Minera Cerro Verde S.A.A. 19.58 19.58 1,209,126 1,155,359 Minera Yanacocha S.R.L. 43.65 43.65 157,835 230,000 Compañía Minera Coimolache S.A. 40.10 40.10 104,833 98,426 Tinka Resources Ltd. 19.30 — 12,862 — 1,484,656 1,483,785 Joint venture (d) 2,254 2,627 Other minor investments 1,865 1,835 1,488,775 1,488,247
Schedule of net share in profit (loss) of investments	(b) 2020 2019 2018 US$(000) US$(000) US$(000) Associates Sociedad Minera Cerro Verde S.A.A. 53,767 76,451 23,444 Compañía Minera Coimolache S.A. 10,055 12,883 10,994 Minera Yanacocha S.R.L. (72,219) (41,580) (35,582) Tinka Resources Ltd. (868) — — (9,265) 47,754 (1,144) Joint venture (252) (44) — (9,517) 47,710 (1,144)
Summary of fair values of the identifiable assets and liabilities of associates as at the date of acquisition	The fair values of the identifiable assets and liabilities of Tinka as at the date of acquisition were as follows: On acquisition US$(000) Current assets 16,548 Non-current assets 53,769 Current liabilities (612) Total identifiable net assets at fair value 69,705 Consideration transferred 13,453
Schedule of financial position of associate under equity method	The table below presents the key financial data from the joint venture under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 12,946 11,090 Non-current assets 93,847 100,106 Liabilities 87,005 88,608 Shareholders' equity, reported 19,788 22,588 Group interests 2,254 2,627 Statements of profit or loss for the years ended December 31: Revenue 20,571 24,521 Interest income — 101 Interest expense (5,252) (5,694) Income tax expense or income 311 186 Net loss from continued operations (2,800) (665) Share in results (252) (44)
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Schedule of financial position of associate under equity method	The table below presents key financial data from the financial statements of Yanacocha under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 1,099,590 1,060,455 Non-current assets 1,213,848 1,251,617 Current liabilities (282,986) (190,577) Non-current liabilities (1,706,066) (1,631,783) Shareholders' equity, net 324,386 489,712 Groups’ interest 141,594 213,759 Goodwill 16,241 16,241 157,835 230,000
Schedule of statements of profit or loss	2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 620,162 739,302 680,618 Other comprehensive profit (loss): 1,246 (91) Net loss from continued operations (165,449) (95,257) (81,517) Share in results (72,219) (41,580) (35,582)
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Schedule of net share in profit (loss) of investments	2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 2,538,593 2,896,894 3,061,930 Profit for the year 274,544 390,377 119,710 Share in results 53,767 76,451 23,444
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: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 1,754,888 1,614,928 Non-current assets 6,012,571 6,194,496 Current liabilities (450,680) (420,786) Non-current liabilities (1,681,451) (2,029,315) Shareholders' equity, net 5,635,328 5,359,323 Group’s interest 1,101,363 1,047,596 Goodwill 107,763 107,763 1,209,126 1,155,359
Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Schedule of net share in profit (loss) of investments	2020 2019 2018 US$(000) US$(000) US$(000) Statements of profit or loss for the years ended December 31: Sales of goods 203,163 241,173 225,447 Net income from continued operations 22,786 28,459 25,584 Adjustments to conform to the accounting policies 2,293 3,674 1,837 Net income, adjusted 25,079 32,133 27,421 Share in results 10,055 12,883 10,994
Schedule of financial position of associate under equity method	The table below presents the key financial data from the financial statements of Coimolache under IFRS: 2020 2019 US$(000) US$(000) Statements of financial position as of December 31: Current assets 205,893 145,692 Non-current assets 213,073 234,223 Current liabilities (45,589) (34,028) Non-current liabilities (104,873) (91,069) Shareholders' equity, net 268,504 254,818 Adjustments to conform to the accounting policies of the Group (7,037) (9,330) Equity, adjusted 261,467 245,488 Group’s interest 104,833 98,426
Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Schedule of financial position of associate under equity method	The table below presents the key financial data from the financial statements of Tinka under IFRS: 2020 US$(000) Statements of financial position as of December 31: Current assets 14,075 Non-current assets 50,464 Current liabilities (876) Shareholders’ equity, net 63,663 Adjustments to conform to the accounting policies of the Group 2,982 Shareholders’ equity, net, adjusted 66,645 Group’s interest 12,862
Schedule of statements of profit or loss	2020 US$(000) Statements of profit or loss for the years ended December 31: Sales of goods — Net loss from continued operations (2,311) Adjustments to conform to the accounting policies (2,189) Net loss, adjusted (4,500) Share in results (868)

Mining concessions, developme_2

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Schedule of property, plant and equipment, net	Balance as of Balance as of Balance as of January 1, Reclassifications Implementation December 31, Sales Reclassifications December 31, 2019 Additions Disposals Sales and transfers IFRS 16 2019 Additions Disposals (note 1(e)) and transfers 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost: Lands 21,761 630 — (135) (4,739) — 17,517 133 — — — 17,650 Mining concessions (f) 151,873 - — — — — 151,873 − — — — 151,873 Development costs 743,259 46,047 (443) — (819) — 788,044 33,233 — (8,657) 612 813,232 Buildings, constructions and other 1,342,621 39 (3,559) (5,380) 26,120 — 1,359,841 99 (132) (45,624) 28,876 1,343,060 Machinery and equipment 958,466 12 (30,235) (38,322) 22,783 — 912,704 4 (419) (42,319) 13,222 883,192 Transportation units 10,885 33 (540) (1,856) 370 — 8,892 — — (577) 94 8,409 Furniture and fixtures 13,306 2 (1,310) (1) 13 — 12,010 3 (74) (408) 206 11,737 Units in transit 2,682 - (1) — 1,073 — 3,754 — (373) — — 3,381 Work in progress 56,662 44,319 (1,168) (78) (49,370) — 50,365 27,322 (325) (30) (42,398) 34,934 Stripping activity asset(g) 141,726 11,545 - — 819 — 154,090 10,752 (11,633) — (612) 152,597 Right-of-use asset (e) — 3,721 (10,897) — — 18,528 11,352 6,221 (1,314) — — 16,259 Mine closure costs 284,162 26,722 — — — — 310,884 31,558 — (6,788) — 335,654 3,727,403 133,070 (48,153) (45,772) (3,750) 18,528 3,781,326 109,325 (14,270) (104,403) — 3,771,978 Accumulated depreciation and amortization: Mining concessions (f) 40,249 10 — — — — 40,259 11 — — — 40,270 Development costs 298,553 29,964 — — — — 328,517 21,139 — (8,657) — 340,999 Buildings, construction and other 591,643 83,274 (3,391) (3,569) (638) — 667,319 74,719 (53) (44,096) 435 698,324 Machinery and equipment 665,357 66,020 (28,619) (35,459) 638 — 667,937 60,034 (265) (40,805) (435) 686,466 Transportation units 8,599 744 (538) (1,779) — — 7,026 607 — (550) — 7,083 Furniture and fixtures 10,123 653 (1,172) — — — 9,604 614 (46) (348) — 9,824 Stripping activity asset 70,518 18,405 - — — — 88,923 22,532 — — — 111,455 Right-of-use asset (e) — 7,778 (2,611) — — — 5,167 5,145 (1,231) — — 9,081 Mine closure costs 168,471 15,373 — — — — 183,844 14,785 — (6,789) — 191,840 1,853,513 222,221 (36,331) (40,807) — — 1,998,596 199,586 (1,595) (101,245) — 2,095,342 Provision for impairment of long-lived assets: Mine closure costs 13,207 2,083 — — — — 15,290 (2,083) — — — 13,207 Development costs 10,153 — — — — — 10,153 — — — — 10,153 Property, plant and other 2,915 — — — — — 2,915 — — — — 2,915 26,275 2,083 — — — — 28,358 (2,083) — — — 26,275 Net cost 1,847,615 1,754,372 1,650,361
Schedule of estimates prices for the current and long-term periods	Estimates prices for the current and long-term periods that have been used to estimate future cash flows are as follows: 2021 2022-2024 US$ US$ Gold 1,800/Oz 1,747/Oz Silver 23.0/Oz 21.2/Oz Copper 7,250/TM 7,083/TM Lead 1,850/TM 2,056/TM
Schedule of net assets for right in use	2020 2019 US$(000) US$(000) Buildings 3,370 4,602 Transportation units 3,330 1,112 Machinery and equipment 478 471 7,178 6,185
Minera Yanacocha S.R.L. [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Schedule of property, plant and equipment, net	(a) Opening Transfer/Other Final balance Additions Sales and deductions changes balances US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Cost- Land 17,053 — — 269 17,322 Land improvements 28,982 — — — 28,982 Building and constructions 271,554 — — 4,510 276,064 Machinery and equipment 216,872 — (20,844) 14,187 210,215 Leach pads 1,817,226 — — 12,253 1,829,479 Vehicles 9,402 — (98) 951 10,255 Furniture and fixtures 2,556 — — — 2,556 Other equipment 59,262 — — 2,232 61,494 Work in progress 436,699 143,489 — (69,829) 510,359 Mining rights 37,521 — — — 37,521 Right of use asset 1,045 — — — 1,045 Asset retirement and mine closure 693,365 — (4,125) — 689,240 Stripping activity asset 151,494 — — 35,045 186,539 Mine development 824,156 — — — 824,156 4,567,187 143,489 (25,067) (382) 4,685,227 Accumulated depreciation and amortization Land improvements 28,315 80 — — 28,395 Building and constructions 226,129 6,981 — — 233,110 Machinery and equipment 184,030 18,029 (20,385) — 181,674 Leach pads 1,694,288 40,197 — — 1,734,485 Vehicles 8,828 49 (98) — 8,779 Furniture and fixtures 2,560 4 — — 2,564 Other equipment 54,132 2,291 — — 56,423 Mining rights 29,457 — — — 29,457 Right of use asset 461 268 — — 729 Asset retirement and mine closure 478,826 61,882 — — 540,708 Stripping activity asset 147,725 1,769 — — 149,494 Mine development 674,142 5,688 — — 679,830 3,528,893 137,238 (20,483) — 3,645,648 Net cost 1,038,294 1,039,579 Opening Transfer/Other Final balance Additions Sales and deductions changes balances US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Cost- Land 9,459 — — 7,594 17,053 Land improvements 36,454 — (7,472) — 28,982 Building and constructions 298,328 — (26,556) (218) 271,554 Machinery and equipment 244,560 — (46,286) 18,598 216,872 Leach pads 1,723,270 — — 93,956 1,817,226 Vehicles 9,921 — (1,043) 524 9,402 Furniture and fixtures 2,556 — — — 2,556 Other equipment 58,924 — (3,712) 4,050 59,262 Work in progress 444,688 184,403 — (192,392) 436,699 Mining rights 37,521 — — — 37,521 Right of use asset — 1,045 — — 1,045 Asset retirement and mine closure 534,398 158,967 — — 693,365 Stripping activity asset 148,487 — — 3,007 151,494 Mine development 760,647 — — 63,509 824,156 4,309,213 344,415 (85,069) (1,372) 4,567,187 Accumulated depreciation and amortization Land improvements 35,583 101 (7,369) — 28,315 Building and constructions 247,979 5,702 (26,579) (973) 226,129 Machinery and equipment 204,255 21,780 (42,978) 973 184,030 Leach pads 1,656,002 38,286 — — 1,694,288 Vehicles 9,855 16 (1,043) — 8,828 Furniture and fixtures 2,556 — — — 2,556 Other equipment 56,522 1,326 (3,712) — 54,136 Mining rights 29,457 — — — 29,457 Right of use asset — 461 — — 461 Asset retirement and mine closure 424,008 54,818 — — 478,826 Stripping activity asset 146,058 1,667 — — 147,725 Mine development 656,484 17,658 — — 674,142 3,468,759 141,815 (81,681) — 3,528,893 Net cost 840,454 1,038,294
Schedule of estimates prices for the current and long-term periods	Estimated prices for the current and long-term periods that have were used to estimate future revenues were as follows: Current Long-term US$ US$ Gold (per ounce) 1,876 1,500 Copper (per pound) 3.1 3.0
Schedule of sensitivity analysis of key assumptions used in the determination of the recoverable amounts of CGUs	WACC is a key assumption in the determination of the recoverable amounts, and changes in WACC would impact the recoverable amounts as follows: Yanacocha (in millions of US Dollars) WACC 8.9 % 9.4 % -0.5 % 125 54.5 +0.5 % (14) (77) Conga (in millions of US Dollars) WACC 9.4 % 10.4 % -0.5 % 132 (30) +0.5 % (33) (158)
Sociedad Minera Cerro Verde Saa [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Schedule of property, plant and equipment, net	Property, plant and equipment consist of owned and leased assets (right-of-use assets), and cost and accumulated depreciation accounts as of December 31, 2020 and 2019 are shown below: December 31, December 31, December 31, 2018 IFRS 16 adoption Additions Adjustments Disposals Transfers 2019 Additions Adjustments Disposals Transfers 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost Land 24,663 — — — (80) 322 24,905 — — — — 24,905 Buildings and other constructions 2,449,577 — — 544 (4,769) 102,772 2,548,124 — (1) (14) 40,895 2,589,004 Machinery and equipment 4,694,050 — — (544) (30,482) 191,589 4,854,613 — 1 (12,814) 143,949 4,985,749 Transportation units 23,251 — — — (32) 3,146 26,365 — — — 3,733 30,098 Furniture and fixtures 949 — — — — — 949 — — — — 949 Other equipment 25,491 — — — (594) 203 25,100 — — — 5,865 30,965 Construction in progress and in-transit units 185,928 — 271,364 (a) (1,192) — (298,032) 158,068 161,059 (a) (6,255) — (194,442) 118,430 Stripping activity asset (see Note 2(i)) 655,709 — 197,038 — — — 852,747 92,890 — — — 945,637 Asset retirement costs (see Note 11(b)) 107,034 — 59,964 — — — 166,998 37,569 — — — 204,567 Right-of-use assets (b) — 95,728 1,342 (700) (929) — 95,441 3,328 — (2,318) — 96,451 8,166,652 95,728 529,708 (1,892) (36,886) — 8,753,310 294,846 (6,255) (15,146) — 9,026,755 Accumulated depreciation Buildings and other constructions 321,920 — 76,199 513 (4,722) — 393,910 62,317 — (14) — 456,213 Machinery and equipment 1,786,326 — 284,097 (513) (29,091) — 2,040,819 277,384 — (12,635) — 2,305,568 Transportation units 13,972 — 1,928 — (28) — 15,872 1,826 — — — 17,698 Furniture and fixtures 858 — 23 — — — 881 23 — — — 904 Other equipment 18,796 — 1,543 — (594) — 19,745 1,495 — — — 21,240 Stripping activity asset 398,202 — 155,530 — — — 553,732 124,309 — — — 678,041 Asset retirement costs 23,676 — 3,239 — — — 26,915 4,611 — — — 31,526 Right-of-use assets (b) — — 11,488 — (903) — 10,585 11,320 — (2,316) — 19,589 2,563,750 — 534,047 — (35,338) — 3,062,459 483,285 — (14,965) — 3,530,779 Net cost 5,602,902 5,690,851 5,495,976 (a) For the year ended December 31, 2019, additions to construction in progress primarily relates to (i) the mine maintenance truck shop (US$78.2 million), (ii) the purchase of used haul trucks from PT Freeport Indonesia (a related party) (US$47.1 million), (iii) the purchase of stators for ball mills (US$18.3 million), (iv) the tailing drain expansion (US$15.2 million), (v) a concentrator optimization project (US$12.3 million), (vi) the regrowth of a leach pad (US$10.9 million) and (vii) the staged flotation reactor engineering project (US$6.2 million). As of December 31, 2020, additions to construction in progress include capitalized interest primarily related to projects for the mine maintenance truck shop (US$1.4 million), tailing dam drain expansion and jacking header extension (US$0.4 million), the purchase of stators for ball mills (US$0.2 million) and other projects (US$0.5 million).
Schedule of net assets for right in use	(b) January 1, December December 2019 Additions Adjustments Disposals 31, 2019 Additions Disposals 31, 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost Land 11,008 — (700) (457) 9,851 — — 9,851 Buildings and other constructions 55,114 1,192 — (370) 55,936 2,880 (2,222) 56,594 Machinery and equipment 29,606 150 — (102) 29,654 448 (96) 30,006 95,728 1,342 (700) (929) 95,441 3,328 (2,318) 96,451 Accumulated depreciation Land — 1,712 — (457) 1,255 1,642 — 2,897 Buildings and other constructions — 6,613 — (344) 6,269 6,526 (2,220) 10,575 Machinery and equipment — 3,163 — (102) 3,061 3,152 (96) 6,117 — 11,488 — (903) 10,585 11,320 (2,316) 19,589 Net cost 95,728 84,856 76,862

Other assets, net (Tables)

Other assets, net (Tables)	12 Months Ended
	Dec. 31, 2020
Other assets, net
Schedule of other assets, net	(a) Balance as of Balance as of Balance as of January 1, December 31, December 31, 2019 Additions Transfers 2019 Additions Disposals 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Cost: Patents and industrial property (b) 11,723 2,139 — 13,862 1,014 (167) 14,709 Rights-of-use (c) 12,292 1,319 — 13,611 109 — 13,720 Software licenses 10,168 242 (92) 10,318 518 (22) 10,814 34,183 3,700 (92) 37,791 1,641 (189) 39,243 Accumulated amortization: Rights-of-use (c) 5,948 1,486 — 7,434 731 — 8,165 Software licenses 2,974 820 (112) 3,682 897 (4) 4,575 8,922 2,306 (112) 11,116 1,628 (4) 12,740 Cost net 25,261 26,675 26,503 (b) (c)

Bank loans (Tables)

Bank loans (Tables)	12 Months Ended
	Dec. 31, 2020
Bank loans
Schedule of bank loans	The movement is presented below: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 55,000 95,000 95,000 New loans 18,019 55,000 95,000 Payments (7,197) (95,000) (95,000) Exchange difference (29) — — Final balance 65,793 55,000 95,000

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other payables
Schedule of trade and other payables	(a) 2020 2019 US$(000) US$(000) Trade payables (b) Domestic suppliers 149,305 131,278 Related entities, note 30(b) 141 29 149,446 131,307 Other payables Taxes payable 9,663 12,043 Remuneration and similar benefits payable 8,860 11,522 Interest payable 3,020 5,318 Royalties payable to the Peruvian State 2,441 2,132 Hedge instruments accounts payables 1,569 — Dividends payable (c) 638 604 Related entities, note 30(b) 328 51 Other liabilities 3,991 3,883 30,510 35,553 Total trade and other payables 179,956 166,860 Classification by maturity: Current portion 179,956 166,244 Non-current portion — 616 Total trade and other payables 179,956 166,860 Classification by nature: Financial payables 167,852 152,686 Non-financial payables 12,104 14,174 Total trade and other payables 179,956 166,860 (b)
Schedule of dividends payable	(c) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 604 663 730 Declared dividends to controlling shareholders, note 17(d) — 22,098 22,860 Dividends paid to controlling shareholders, note 17(d) — (22,098) (22,860) Declared dividends to non-controlling shareholders, note 17(d) 5,140 6,500 5,560 Dividends paid to non-controlling shareholders, note 17(d) (5,140) (6,500) (5,560) Expired dividends (26) (53) (44) Other minor 60 (6) (23) Final balance 638 604 663
Minera Yanacocha SRL and subsidiary [Member]
Trade and other payables
Schedule of trade and other payables	(a) 2020 2019 US$(000) US$(000) Trade payables (b) Domestic suppliers 44,977 45,671 Related entities, note 24(c) 12,374 11,426 57,351 57,097 Other payables Remuneration and similar benefits payable 4,649 7,818 Other taxes payable 4,097 5,195 Royalties payable to the Peruvian State 2,548 2,696 11,294 15,709 68,645 72,806 (b)

Other accounts payable (Tables)

Other accounts payable (Tables)	12 Months Ended
	Dec. 31, 2020
Other accounts payable
Schedule of other accounts payable	This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current Royalties and mining taxes in dispute (a) 87,499 95,120 Income tax assessment (b) 34,716 — Other 4,250 4,260 Total current 126,465 99,380 Non-current Royalties and mining taxes in dispute (a) 248,537 362,464 Excess of salaries limit of workers profit sharing (c) 36,855 17,260 Total non-current 285,392 379,724 (a) The balance as of December 31, 2020, corresponds to the remaining balance from the monthly payments of the installment programs for disputed mining royalties for the period January 2009 through September 2011 and for the years 2012 and 2013 and special mining tax for the period October 2011 through December 2013, totaling US$336.0 million (US$457.6 million as of December 31, 2019), including interest and penalties of US$186.5 million (US$256.1 million as of December 31, 2019) (see Note 13(d)). (b) Corresponds to interest and penalties related to income tax assessments for the year 2013, which will be paid in the first quarter of 2021. (c) As of December 31, 2020, represents the excess salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO). This is related to adjustments of previous years income tax assessments (recognized in 2020 mainly as a result of the international arbitration proceeding initiated by the Company (see Note 13(d)).This amount includes interest of US$16.6 million.

Other Financial Liabilities (_2

Other Financial Liabilities (debt) (Tables) - Sociedad Minera El Brocal S.A.A	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Financial Liabilities debt [Line Items]
Schedule of other financial liabilities	This item is made up as follows: December 31, 2020 December 31, 2019 US$(000) US$(000) Current debt: Lease liabilities (a) 10,223 8,855 Non-current debt: Senior unsecured credit facility (b) 525,000 830,000 Lease liabilities (a) 68,994 76,944 Less : Debt issuance cost (1,549) (4,124) Total non-current debt 592,445 902,820 Total other financial liabilities 602,668 911,675
Schedule of lease liabilities and the movements	(a) operations. 2020 2019 US$(000) US$(000) Balance at beginning of the year 85,799 95,728 Additions 3,328 550 Accrued interest 4,875 5,242 Payments (9,376) (10,479) Interest payments (4,875) (5,242) Exchange rate effect (534) — Total lease liabilities 79,217 85,799 The following are the amounts recognized in profit or loss: 2020 2019 US$(000) US$(000) Depreciation charge of right-of-use assets (see Note 15) 11,320 11,488 Expenses related to variable lease payments, low-value and short-term leases (see Note 15) 7,399 7,069 Interest expense on lease liabilities (see Note 18) 4,875 5,242 23,594 23,799
Schedule of movement of the changes derived from the financing activities	Following is the movement of the changes derived from the financing activities for the year ended December 31, 2020 and 2019: Long term Long term January 01, to short term December 31, to short term December 31, 2019 Additions Payments transfers Others 2019 Additions Payments transfers Others 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Current: Lease liabilities, see Note 10 (a) 8,119 464 (10,479) 10,751 — 8,855 1,477 (9,376) 9,402 (135) 10,223 Non-current: Senior unsecured credit facility 1,030,000 — (200,000) — — 830,000 — (305,000) — — 525,000 Debt issuance cost (a) (7,190) — — — 3,066 (4,124) — — — 2,575 (1,549) Lease liabilities, see Note 10 (a) 87,609 86 — (10,751) — 76,944 1,851 — (9,402) (399) 68,994 Total liabilities from financing activities 1,118,538 550 (210,479) — 3,066 911,675 3,328 (314,376) — 2,041 602,668 (a)

Provisions, contingent liabil_2

Provisions, contingent liabilities and other liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Provisions and contingent liabilities
Schedule of detailed information about provisions	(a) As of As of January 1, Accretion Sale of December 31, 2020 Changes expense Disbursements mining unit 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Closure of mining units and exploration projects (b) 252,305 32,200 6,848 (8,571) (5,093) 277,689 Bonus to employees and officers 19,226 13,106 — (15,119) — 17,213 Environmental liabilities 6,305 (211) — (1,056) — 5,038 Safety contingencies 5,205 (598) — (71) — 4,536 Labor contingencies 3,777 442 — (139) — 4,080 Obligations with communities 3,509 96 — — — 3,605 Tax contingencies 382 2,728 — — — 3,110 Environmental contingencies 1,500 1,640 — (266) — 2,874 Board of Directors' participation 1,594 1,493 — (1,500) — 1,587 Workers’ profit sharing payable 69 57 — — — 126 Other provisions 635 (155) — — — 480 294,507 50,798 6,848 (26,722) (5,093) 320,338 Classification by maturity: Current portion 72,771 68,000 Non-current portion 221,736 252,338 294,507 320,338
Closure Of Mining Units And Exploration Projects [Member]
Provisions and contingent liabilities
Schedule of detailed information about provisions	(b) The table below presents the movement of the provision for closure of mining units and exploration projects: 2020 2019 US$(000) US$(000) Beginning balance 252,305 225,877 Additions in estimates Continuing mining units, note 11(a) 31,500 26,722 Exploration projects, note 26(a) 642 4,020 Discontinued mining units 58 1,912 Accretion expense Continuing mining units, note 27(a) 6,424 10,266 Exploration projects, note 27(a) 248 124 Discontinued mining units, note 1(e) 176 266 Sale of mining unit, note 1(e) (5,093) — Disbursements (8,571) (16,882) Final balance 277,689 252,305 Classification by maturity: Current portion 32,462 35,280 Non-current portion 245,227 217,025 277,689 252,305
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Schedule of detailed information about provisions	(a) 2020 2019 US$(000) US$(000) Provisions Provision for mine closure and exploration projects (b) 1,738,428 1,608,380 Provision of social responsibility (c) 16,609 18,326 Other provisions 7,352 6,162 1,762,389 1,632,868 Classification by maturity: Current portion 101,786 45,317 Non-current portion 1,660,603 1,587,551 1,762,389 1,632,868
Schedule of detailed information about provision for social responsibility	The movement of the provision for social responsibility for 2020, 2019 and 2018 is broken down as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 18,326 18,010 21,689 Additional provisions — 888 — Payments (6) (572) (3,679) Corrections (1,711) — — Ending balance 16,609 18,326 18,010 Classification by maturity Current portion 1,728 761 8,351 Non-current portion 14,881 17,565 9,659 16,609 18,326 18,010
Minera Yanacocha SRL and subsidiary [Member] | Closure Of Mining Units And Exploration Projects [Member]
Provisions and contingent liabilities
Schedule of detailed information about provision for closure of mining units and exploration projects	The movement of the provision for mine closure for 2020, 2019 and 2018 is broken down as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Opening balance 1,608,380 1,294,464 1,234,731 Additional provisions 120,655 301,096 43,560 Payments (22,656) (23,889) (19,842) Unwinding of discount, note 22 32,049 36,709 36,015 Ending balance 1,738,428 1,608,380 1,294,464 Classification by maturity Current portion 92,706 39,156 19,325 Non-current portion 1,645,722 1,569,224 1,275,139 1,738,428 1,608,380 1,294,464
Sociedad Minera Cerro Verde S.A.A. [Member]
Provisions and contingent liabilities
Schedule of detailed information about provisions	December 31, December 31, 2020 2019 US$(000) US$(000) Current: Provision for social commitments (a) 9,469 7,677 Provision for remediation and mine closure (b) 156 241 Total current 9,625 7,918 Non–current: Provision for remediation and mine closure (b) 237,387 195,659 Provision for disputed mining royalties (c) 44,982 62,797 Other long-term liabilities (d) 22,455 12,117 Provision for legal contingencies (e) 1,924 4,800 Provision for social commitments (a) 1,226 3,046 Total non-current 307,974 278,419 (a) The provision for social commitments is associated with repaving Alata-Congata Road (US$6.3 million) and an irrigation project in La Joya (US$4.4 million). (b) The Company’s mineral exploitation activities are subject to environmental protection standards. In order to comply with these standards, the Company has obtained the approval for the Environment Adequacy Program (PAMA) and for the Environmental Impact Studies (EIA), required for the operation of Cerro Verde’s production unit. On October 14, 2003, Law 28090 was enacted, which regulates the commitments and procedures that entities involved in mining activities must follow in order to prepare, file and implement a mine site closure plan, as well as the respective environmental guarantees that assure compliance with the plan in accordance with protection, conservation and restoration of the environment. On August 15, 2005, the regulations regarding this law were approved. During 2006, in compliance with the mentioned law, the Company completed the closure plans for its mine site, and presented it to the Ministry of Energy and Mines. The closure plans for its mine site was approved by Resolution No 302‑2009 MEM-AAM and its modifications were approved by Resolution No 207‑2012 MEM-AAM, Resolution No 186‑2014 MEM-DGAAM and its last modification, Resolution No 032‑2018 MEM-DGAAM. As of December 31, 2020, pursuant to legal requirements, the Company has issued a letter of credit to the Ministry of Energy and Mines totaling US$59.4 million to secure mine closure plans. The estimate of remediation and mine closure costs is based on studies prepared by independent consultants and based on current environmental regulations. This provision corresponds mainly to the activities to be performed in order to restore the areas affected by mining activities. The main tasks to be performed include ground removal, soil recovery, and dismantling of plant and equipment.
Schedule of detailed information about provision for closure of mining units and exploration projects	The table below presents the changes in the provision for remediation and mine closure: 2020 2019 US$(000) US$(000) Beginning balance 195,900 131,888 Accretion expense 4,196 4,048 Additions (see Note 7) 37,569 59,964 Progressive mine closure payments in hydrometallurgy process (122) — Final balance 237,543 195,900

Financial obligations (Tables)

Financial obligations (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of Financial obligations [Line Items]
Disclosure Of Detailed Information About Financial Obligation Explanatory [Text Block]	(a) 2020 2019 US$(000) US$(000) Compañía de Minas Buenaventura S.A.A. (b) Banco de Crédito del Perú 66,667 61,667 BBVA Banco Continental 61,667 61,667 CorpBanca New York Branch 61,666 61,666 ICBC Perú Bank 40,000 25,000 Banco Internacional del Perú 30,000 30,000 Banco de Sabadell, Miami Branch 15,000 15,000 Banco Latinoamericano de Comercio Exterior S.A. — 20,000 275,000 275,000 Debt issuance costs (2,715) (2,504) 272,285 272,496 Sociedad Minera El Brocal S.A.A. Banco de Crédito del Perú – Financial obligation (c) 140,309 161,894 Debt issuance costs (600) (709) 139,709 161,185 Empresa de Generación Huanza S.A. Banco de Crédito del Perú – Finance lease (d) 113,096 130,504 Debt issuance costs (1,276) — 111,820 130,504 Lease liabilities (g) 7,839 7,503 Total financial obligations 531,653 571,688 Classification by maturity: Current portion 25,086 265,692 Non-current portion (e) 506,567 305,996 Total financial obligations 531,653 571,688
Disclosure of maturity analysis for non-derivative financial liabilities [text block]	(e) 2020 2019 US$(000) US$(000) Between 1 and 2 years (Year 2022) 176,665 133,091 Between 2 and 5 years (Years 2023 to 2025) 327,036 127,463 More than 5 years (Years 2026 hereinafter) 6,071 48,566 509,772 309,120 Debt issuance costs (3,205) (3,124) 506,567 305,996
Disclosure of reconciliation of liabilities arising from financing activities [text block]	(f) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 571,688 587,062 633,083 New financial obligations — 161,894 — New lease obligations 5,213 19,885 — Disposals of lease obligations (977) (5,079) — Payments of financial obligations (38,994) (186,152) (45,222) Payments of obligations for leases (4,080) (7,596) — Amortization of debt issuance costs in results, note 27(a) 976 2,109 1,024 Accretion expense for leases related to rights in use, nota 27(a) 180 293 — Effect of amortized cost, note 27(a) (361) — — Increase of debt issuance costs (1,992) (728) (2,207) Other minor — — 384 Final balance 531,653 571,688 587,062
Schedule of lease liabilities	Lease liabilities related to the right in use are as follows: 2020 2019 US$(000) US$(000) Buildings 3,971 5,296 Transportation units 3,186 1,429 Machinery and equipment 682 778 7,839 7,503 Classification by maturity: Current portion 3,609 3,692 Non-current portion 4,230 3,811 7,839 7,503 Lease payments are presented in the consolidated statements of cash flows in the Short-term lease payments caption as part of the financing activities. Interest’s expense related to the lease liabilities for the years 2020, 2019 and 2018 is presented in the “Financial costs” caption, note 27.
Schedule of Future minimum rentals payable	2020 2019 US$(000) US$(000) Within one year 1,470 1,470 After one year but not more than five years 2,227 3,697 3,697 5,167
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Financial obligations [Line Items]
Disclosure of maturity analysis for non-derivative financial liabilities [text block]	The following tables show the expected aging of maturity of the Company’s obligations, excluding taxes, accruals and benefits to employees, as of December 31, 2020 and 2019: On demand Less than 3 months 3 to 12 months 1 to 5 years More than 5 years Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 Trade accounts payable — 197,855 9,770 — — 207,625 Accounts payable - related parties — 3,446 — — — 3,446 Other financial liabilities — 1,551 8,672 560,750 31,695 602,668 Other accounts payable — 57,637 68,828 285,392 — 411,857 Total — 260,489 87,270 846,142 31,695 1,225,596 As of December 31, 2019 Trade accounts payable — 245,463 7,402 — — 252,865 Accounts payable - related parties — 4,014 — — — 4,014 Other financial liabilities — 3 8,852 825,877 76,943 911,675 Other accounts payable — 40,357 59,023 90,019 289,705 479,104 Total — 289,837 75,277 915,896 366,648 1,647,658

Shareholders' equity, net (Tabl

Shareholders' equity, net (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of Shareholders' equity, net [Line Items]
Schedule of dividends declared and paid	Due to the State of National Emergency declared in the country and the restrictions to the mining industry, which limit it only to the execution of critical activities, the Board agreed in a non-face-to-face session on April 15, 2020, to exclude distribution of dividends from the agenda of the call to the Annual Mandatory Meeting initially scheduled for March 2020, which took place in July 15, 2020. The table below presents the dividends declared and paid in 2019 and 2018: Dividends declared and Dividend Meetings Date paid per share US$(000) US$ 2019 Dividends Mandatory Annual Shareholders’ Meeting March 25 16,538 0.06 Less - Dividends of treasury shares (1,298) 15,240 Board of Directors’ Meeting October 29 7,442 0.03 Less - Dividends of treasury shares (584) 6,858 22,098 2018 Dividends Mandatory Annual Shareholders’ Meeting March 27 8,269 0.03 Less - Dividends of treasury shares (648) 7,621 Board of Directors’ Meeting October 25 16,538 0.06 Less - Dividends of treasury shares (1,299) 15,239 22,860
Schedule Of Earning Per Share	The calculation of loss per share attributable to the equity holders of the parent is presented below: 2020 2019 2018 Loss for the year (numerator) - US$ (135,718,000) (12,208,000) (13,445,000) Total common and investment shares (denominator) 253,986,867 253,986,867 253,986,867 Loss per basic share and diluted - US$ (0.53) (0.05) (0.05) The calculation of profit (loss) per share from continuing operations attributable to the equity holders of the Parent is presented below: 2020 2019 2018 Loss for the year (numerator) - US$ (141,135,000) (1,694,000) (1,637,000) Total common and investment shares (denominator) 253,986,867 253,986,867 253,986,867 Loss per basic share and diluted - US$ (0.56) (0.01) (0.02)
Sociedad Minera El Brocal S.A.A
Disclosure of Shareholders' equity, net [Line Items]
Schedule of capital stock structure	As of December 31, 2020, the Company’s capital stock structure is as follows: Percentage of individual interest in capital Number of shareholders Total percentage interest Up to 1.00 2,844 4.39 From 1.01 to 20.00 2 21.05 From 20.01 to 30.00 1 21.00 From 30.01 to 60.00 1 53.56 2,848 100.00
capital stock [Member]
Disclosure of Shareholders' equity, net [Line Items]
Schedule of classes of share capital	The Group’s share capital is stated in soles and consisted of common shares with voting rights, with a nominal amount of S/10.00 per share. The table below presents the composition of the capital stock as of December 31, 2020 and 2019: Number of Capital Capital shares stock stock S/(000) US$(000) Common shares 274,889,924 2,748,899 813,162 Treasury shares (21,174,734) (211,747) (62,665) 253,715,190 2,537,152 750,497
investment shares [Member]
Disclosure of Shareholders' equity, net [Line Items]
Schedule of classes of share capital	The table below presents the composition of the investment shares as of December 31, 2020 and 2019: Number of Investment Investment shares shares shares S/(000) US$(000) Investment shares 744,640 7,447 2,161 Treasury investment shares (472,963) (4,730) (1,370) 271,677 2,717 791

Subsidiaries with material no_2

Subsidiaries with material non-controlling interest (Tables)	12 Months Ended
	Dec. 31, 2020
Subsidiaries with material non-controlling interest
Schedule of non-controlling interests	Financial information of main subsidiaries that have material non-controlling interest are provided below: Country of incorporation 2020, 2019 and operation and 2018 % Equity interest held by non-controlling interests: Sociedad Minera El Brocal S.A.A. Peru 38.57 S.M.R.L. Chaupiloma Dos de Cajamarca Peru 40.00 Minera La Zanja S.R.L. Peru 46.94 Apu Coropuna S.R.L. Peru 30.00 2020 2019 2018 US$(000) US$(000) US$(000) Accumulated balances of material non-controlling interest: Sociedad Minera El Brocal S.A.A. 144,501 161,917 176,978 Minera La Zanja S.R.L. 26,121 33,026 42,295 S.M.R.L. Chaupiloma Dos de Cajamarca 1,648 1,587 1,800 Apu Coropuna S.R.L. 127 148 164 172,397 196,678 221,237 Profit (loss) allocated to material non-controlling interest: Sociedad Minera El Brocal S.A.A. (12,895) (13,432) 2,880 Minera La Zanja S.R.L. (6,905) (9,090) (6,346) Apu Coropuna S.R.L. (22) (14) (410) S.M.R.L. Chaupiloma Dos de Cajamarca 5,201 6,286 5,667 Other minor — (1) — (14,621) (16,251) 1,791
Schedule of financial position of subsidiaries	The summarized financial information of these subsidiaries, before inter-company eliminations, is presented below: Statements of financial position as of December 31, 2020: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Current assets 166,396 104,076 6,814 2,064 Non-current assets 553,754 30,486 — 169 Current liabilities (170,896) (22,329) (2,694) (1,071) Non-current liabilities (195,809) (56,587) — (740) Shareholders’ equity, net 353,445 55,646 4,120 422 Attributable to: Shareholders of the Group 208,944 29,525 2,472 295 Non-controlling interests 144,501 26,121 1,648 127 353,445 55,646 4,120 422 Statements of financial position as of December 31, 2019: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Current assets 149,945 112,420 6,252 2,141 Non-current assets 576,028 26,038 — 185 Current liabilities (118,965) (20,170) (2,286) (1,094) Non-current liabilities (210,904) (47,930) — (740) Shareholders’ equity, net 396,104 70,358 3,966 492 Attributable to: Shareholders of the Group 234,187 37,332 2,379 344 Non-controlling interests 161,917 33,026 1,587 148 396,104 70,358 3,966 492
Schedule of statement of profit or loss of subsidiaries	Statements of profit or loss for the years 2020, 2019 and 2018: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna Other S.A.A. S.R.L. Cajamarca S.R.L. minor US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 - Revenues 255,275 33,033 18,638 — — Profit (loss) for the year (31,541) (14,712) 13,004 (44) — Attributable to non-controlling interests (12,895) (6,905) 5,201 (22) — Year 2019 - Revenues 299,252 43,520 22,297 — — Profit (loss) for the year (32,855) (19,364) 15,715 (48) (17) Attributable to non-controlling interests (13,432) (9,090) 6,286 (14) (1) Year 2018 - Revenues 332,298 96,611 20,385 — — Profit (loss) for the year 6,305 (13,519) 14,168 (1,369) — Attributable to non-controlling interests 2,880 (6,346) 5,667 (410) —
Schedule of cash flow statement	Statements of cash flow for the years 2020, 2019 and 2018: Sociedad S.M.R.L. Minera El Minera Chaupiloma Apu Brocal La Zanja Dos de Coropuna S.A.A. S.R.L. Cajamarca S.R.L. US$(000) US$(000) US$(000) US$(000) Year 2020 - Operating activities 53,304 (5,751) 13,738 (74) Investing activities (24,699) (825) — — Financing activities (1,954) — (12,850) — 26,651 (6,576) 888 (74) Year 2019 - Operating activities 1,545 (908) 16,040 — Investing activities (28,259) (1,629) — — Financing activities (405) (763) (16,250) 1,032 (27,119) (3,300) (210) 1,032 Year 2018 - Operating activities 74,985 10,323 14,066 (572) Investing activities (29,546) (13,160) — — Financing activities (29,974) — (13,900) — 15,465 (2,837) 166 (572)

Tax situation (Tables)

Tax situation (Tables)	12 Months Ended
	Dec. 31, 2020
Tax situation
Schedule of income tax years for review by tax authorities	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. 2015-2020 Compañía Minera Condesa S.A. 2015-2020 Compañía Minera Colquirrumi S.A. 2015-2020 Consorcio Energético de Huancavelica S.A. 2015-2020 Contacto Corredores de Seguros S.A. 2015-2020 El Molle Verde S.A.C. 2015-2020 Empresa de Generación Huanza S.A. 2015-2020 Inversiones Colquijirca S.A. 2015-2020 Minera La Zanja S.R.L. 2015-2020 Sociedad Minera El Brocal S.A.A. 2015-2020 S.M.R.L. Chaupiloma Dos de Cajamarca 2015-2020 Procesadora Industrial Río Seco S. A. 2015-2020 Apu Coropuna S.R.L. 2015-2020 Cerro Hablador S. A. C. 2015-2020 Minera Azola S. R. L. 2015-2020
Schedule of other assessments	A summary of these assessments follows: Penalty and Year Taxes interest Total US$(000) US$(000) US$(000) 2003 – 2005 8,780 39,700 48,480 2006 11,206 51,769 62,975 2007 12,821 21,177 33,998 2008 16,906 16,859 33,765 2009 56,000 51,606 107,606 2010 53,700 117,880 171,580 2011 41,063 67,932 108,995 2012 869 9,477 10,346 2013 48,401 65,902 114,303 2014 - 2020 44,864 — 44,864 294,610 442,302 736,912
Minera Yanacocha SRL and subsidiary [Member]
Tax situation
Schedule of income tax years for review by tax authorities	The Company has entered into the following tax stability agreement with a term of 15 years: Date of the Tax Mine Effective Agreement Tax Regimes in Force La Quinua January 1, 2004 August 25, 2003 August 25, 2003
Schedule of income tax provision	The Company’s income tax provision consisted of the following: 2020 2019 2018 US$(000) US$(000) US$(000) Current Peruvian income tax 51,197 42,978 12,701 Royalties and mining taxes 5,065 11,444 8,888 Income tax from prior years (refunds)/payments (1,712) 8,459 8,269 Other taxes 1,363 993 510 Income tax prior years refunds (*) (2,895) (3,002) — Fines from previous years — 4,056 — Current income tax expense 53,018 64,928 30,368 Deferred income tax benefit — — (1,071) Income tax expense 53,018 64,928 29,297
Schedule of reconciliation of tax expense and the accounts profit	Below is a reconciliation of tax expense and the accounts profit multiplied by the statutory tax rate for the years 2020, 2019 and 2018: 2020 2019 2018 US$(000) US$(000) US$(000) Loss before income tax (112,431) (30,329) (52,220) Peruvian statutory tax rate 29.5 % 29.5 % 29.5 % Income tax income (33,167) (8,947) (15,405) Valuation allowance on deferred tax asset 57,131 46,473 23,771 Effect of change in translation to US dollars 23,075 (4,217) — Royalties and Mining taxes 5,065 11,444 8,888 Credit of Royalties and Mining taxes (1,494) (3,376) (2,622) Non-deductible expenses 7,015 13,837 6,572 Ruling on a tax case from 2007-2009 (2,895) — — Income tax prior years (refunds) / payments (1,712) 8,459 8,269 Difference in income tax rate applicable to La Quinua at 29% — — (176) Ruling on a tax case from 2004 — (2,801) — Fines from prior years, note 24 — 4,056 — Total income tax expense 53,018 64,928 29,297
Sociedad Minera El Brocal S.A.A
Tax situation
Schedule of income tax provision	The income tax expense for the years ended December 31, 2020,2019 and 2018 is shown below: 2020 2019 2018 US$(000) US$(000) US$(000) Income tax Current 175,870 107,666 254,767 Deferred 25,962 139,934 61,483 201,832 247,600 316,250 Mining taxes Current mining royalty and special mining tax 32,203 47,032 6,661 Supplementary retirement fund Current 2,568 1,835 1,499 Deferred 323 1,607 760 2,891 3,442 2,259 Income tax expense reported in the statements of comprehensive income 236,926 298,074 325,170
Schedule of deferred taxes	December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Deferred Income tax Asset Cost of net asset for the construction of the tailing dam 125,621 30,033 26,449 Royalty accrual 83,570 84,546 109,505 Provision for remediation and mine closure 19,937 17,309 15,131 Unpaid vacations 7,015 6,618 5,937 Provision for mining taxes 6,124 3,737 4,120 Leases 931 406 — Development costs 59 72 122 SUNAT Assessments — — 4,055 Other provisions 10,826 10,276 10,450 254,083 152,997 175,769 Liability Property, plant and equipment depreciation 545,636 458,307 361,453 Stripping activity asset 43,187 33,661 27,464 Embedded derivatives for price adjustment of copper concentrate and cathode 37,862 10,742 Valuation of inventories 18,479 14,885 16,605 Debt issuance costs 412 933 1,894 645,576 518,528 401,366 Deferred liabilities, net 391,493 365,531 225,597 Supplementary retirement fund Deferred liability 4,581 4,258 2,651 Total deferred income tax liability, net 396,074 369,789 228,248
Schedule of other assessments	Year Taxes Penalty and interest Total US$(000) US$(000) US$(000) 2003 – 2005 8,780 39,700 48,480 2006 11,206 51,769 62,975 2007 12,821 21,177 33,998 2008 16,906 16,859 33,765 2009 56,000 51,606 107,606 2010 53,700 117,880 171,580 2011 41,063 67,932 108,995 2012 869 9,477 10,346 2013 48,401 65,902 114,303 2014 –2020 44,864 — 44,864 294,610 442,302 736,912
Schedule of types of temporary differences, unused tax losses and unused tax credits.	(g) The Company recognizes the effect of temporary differences between the accounting base for financial reporting purposes and the tax base. The composition of this item is made up as follows: December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Deferred Income tax Asset Cost of net asset for the construction of the tailing dam 125,621 30,033 26,449 Royalty accrual 83,570 84,546 109,505 Provision for remediation and mine closure 19,937 17,309 15,131 Unpaid vacations 7,015 6,618 5,937 Provision for mining taxes 6,124 3,737 4,120 Leases 931 406 — Development costs 59 72 122 SUNAT Assessments — — 4,055 Other provisions 10,826 10,276 10,450 254,083 152,997 175,769 Liability Property, plant and equipment depreciation 545,636 458,307 361,453 Stripping activity asset 43,187 33,661 27,464 Embedded derivatives for price adjustment of copper concentrate and cathode 37,862 10,742 Valuation of inventories 18,479 14,885 16,605 Debt issuance costs 412 933 1,894 645,576 518,528 401,366 Deferred liabilities, net 391,493 365,531 225,597 Supplementary retirement fund Deferred liability 4,581 4,258 2,651 Total deferred income tax liability, net 396,074 369,789 228,248
Schedule of reconciliation of income tax rate.	For the years ended December 31, 2020, 2019 and 2018, the income tax expense recorded differs from the result of applying the legal rate to the Company’s profit before income tax, as detailed below: 2020 2019 2018 US$(000) US$(000) US$(000) Profit before income tax 511,470 688,451 444,880 Income tax rate 32 % 32 % 32 % Expected income tax expense 163,670 220,304 142,362 Moratorium interest 24,652 4,052 1,367 Non - deductible expenses 16,925 24,129 23,985 Income tax true – ups 7,293 (10,255) (10,312) IFRIC 23 adoption — 20,767 — Royalty case — — 143,728 Special mining tax and mining royalties (10,305) (15,660) (25,165) Special mining burden (GEM) — — (22,334) Income tax rate change effect on deferred taxes for change in Peruvian tax law once the current Stability Contract expires (from 32% to 30.85%) (2,750) (2,746) (1,958) Others 4,348 7,620 4,896 Current and deferred income tax charges to results 203,833 248,211 256,569 Mining taxes charged to results 31,535 48,036 65,055 Supplementary retirement fund charged to results 1,558 1,827 3,546 236,926 298,074 325,170 Effective income tax 46.32 % 43.30 % 73.09 %

Net sales (Tables)

Net sales (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of associates [line items]
Schedule of net sales to customers by geographical areas	(a) 2020 2019 2018 US$(000) US$(000) US$(000) Revenues by geographic region: Metal and concentrates sales - Peru 389,854 476,978 521,017 America - other than Peru 163,500 171,769 370,624 Europe 42,210 60,475 100,792 Asia 39,110 105,645 120,519 634,674 814,867 1,112,952 Services - Peru 20,173 23,501 23,712 America - other than Peru 92 130 289 Europe 20 30 — 20,285 23,661 24,001 Royalties - Peru 18,638 22,297 20,385 673,597 860,825 1,157,338 2020 2019 2018 US$(000) US$(000) US$(000) Revenues by type of good or services: Sales by metal - Silver 230,498 298,171 362,122 Gold 229,590 254,194 411,877 Copper 181,311 238,304 274,761 Zinc 120,546 149,317 164,666 Lead 48,426 89,141 85,555 Manganese sulfate 4,051 6,046 6,655 814,422 1,035,173 1,305,636 Commercial deductions, note 2.4(q) (179,748) (220,306) (192,684) Sales of goods, note 20(b) 634,674 814,867 1,112,952 Sales of Services, note 20(b) 20,285 23,661 24,001 Royalties income, note 20(b) 18,638 22,297 20,385 Total revenue from contracts with customers 673,597 860,825 1,157,338 Revenues by type of recognition: Goods transferred at a point in time 634,674 814,867 1,112,952 Services transferred over time 20,285 23,661 24,001 Royalties at a point of time 18,638 22,297 20,385 673,597 860,825 1,157,338 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Contracts with customers for sale of goods (a) 634,674 814,867 1,112,952 Fair value of accounts receivables 5,154 2,347 (6,013) Adjustments to prior period liquidations 4,255 394 788 Hedge operations, note 32(a) (6,464) 4,322 (1,398) Sale of goods 637,619 821,930 1,106,329 Sale of services, note 20(a) 20,285 23,661 24,001 Royalty income, note 20(a) 18,638 22,297 20,385 676,542 867,888 1,150,715
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of associates [line items]
Schedule of net sales by geographic region	(b) For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Asia 2,096,084 2,374,350 2,404,530 Europe 207,954 77,716 209,894 North America 120,865 265,599 295,448 South America (primarily Peru) 106,489 168,077 136,400 Central America 7,201 11,152 15,658 2,538,593 2,896,894 3,061,930
Schedule of revenue by type of products	(a) For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Pounds (000) US$(000) Pounds (000) US$(000) Pounds (000) US$(000) Copper in concentrate 743,274 2,088,167 912,974 2,294,249 962,113 2,458,088 Copper cathode 83,870 241,808 88,875 244,277 86,346 251,908 Other (primarily silver and molybdenum concentrate) 208,618 358,368 351,934 Total revenues 2,538,593 2,896,894 3,061,930
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of associates [line items]
Schedule of net sales by geographic region	2020 2019 2018 US$(000) US$(000) US$(000) Sales and services by geographic region: Metal sales Europe (Switzerland) 590,002 734,526 518,664 America 1,135 — 139,989 Singapore 1,257 — — 592,394 734,526 658,653
Schedule of net sales to customers by geographical areas	(a) 2020 2019 2018 US$(000) US$(000) US$(000) Sales and services by geographic region: Metal sales Europe (Switzerland) 590,002 734,526 518,664 America 1,135 — 139,989 Singapore 1,257 — — 592,394 734,526 658,653
Schedule of other operating revenue	(b) 2020 2019 2018 US$(000) US$(000) US$(000) Copper and silver in concentrate 27,765 4,098 20,442 Others 3 678 1,523 27,768 4,776 21,965

Cost of sales, without consid_2

Cost of sales, without considering depreciation and amortization (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of continuing involvement in derecognised financial assets [line items]
Schedule of detailed information of cost of sale of goods and services	(a) 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and products in process, net of depreciation and amortization 31,938 49,206 37,640 Cost of production Services provided by third parties 143,652 196,895 243,410 Consumption of materials and supplies 70,942 96,351 133,961 Direct labor 62,885 79,076 93,122 Electricity and water 36,504 44,583 50,215 Maintenance and repair 22,235 19,729 24,415 Short-term and low-value lease 16,289 20,784 23,539 Transport 12,234 16,341 30,819 Insurances 12,036 12,235 11,311 Provision (reversal) for impairment of finished goods and product in progress, note 8(c) 5,054 (2,143) 4,521 Other minor 11,916 11,755 9,634 Total cost of production of the period 393,747 495,606 624,947 Final balance of products in process and finished goods, net of depreciation and amortization (31,797) (31,938) (49,206) Cost of sales of goods, without considering depreciation and amortization 393,888 512,874 613,381 (b) 2020 2019 2018 US$(000) US$(000) US$(000) Electricity and water 668 589 249 Direct labor 371 1,231 2,128 Services provided by third parties 189 331 382 Transport 87 148 50 Insurances 81 163 86 Maintenance and repair 55 186 543 Consumption of materials and supplies 20 497 675 Short-term and low-value lease 6 89 92 Other minor 77 144 113 1,554 3,378 4,318
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of continuing involvement in derecognised financial assets [line items]
Schedule of detailed information about cost of sales	This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Materials and supplies 581,658 693,292 693,316 Depreciation and amortization (see Note 7 and 2(i)) 451,001 523,512 512,298 Labor (a) 288,104 285,081 357,692 Energy 200,794 228,853 254,243 Third-party services 164,590 181,215 159,514 Incremental costs related to COVID-19 pandemic (b) 95,702 — — Depreciation for right-of-use assets (see Note 7 and 10(a)) 11,320 11,488 — Change in finished goods inventory 10,391 Variable lease payments, low-value and short-term leases (see Note 10(a)) 7,399 7,069 — OEFA and OSINERGMIN contributions (c) 5,889 6,828 7,904 Management Fees 2,000 2,923 2,743 Change in work in process inventory (49,575) (23,427) (8,513) Other costs 39,982 47,033 45,402 1,809,255 1,961,577 2,018,876
Schedule of incremental costs related to COVID-19 pandemic and care and maintenance	For the year ended December 31, 2020 US$(000) Incremental costs (i) 51,071 Labor and other employee expenses (ii) 29,705 Severance costs (iii) 7,485 Capital project write-off 6,255 Exceptional contributions and donations 1,186 95,702 (i) (ii) (iii)
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of continuing involvement in derecognised financial assets [line items]
Schedule of detailed information about cost of sales	(a) This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and in-process 302,382 341,213 345,489 Beginning balance of provision for net realizable value, note 8(b) (47,925) (89,127) (62,540) Royalties to related parties, note 1(a) and note 24 18,638 22,297 20,385 Mining royalties to the government 7,570 9,255 2,875 Consumption of supplies 138,041 200,036 215,863 Personnel expenses 61,298 72,325 82,645 Other services 31,864 41,120 43,671 Maintenance 17,415 26,645 22,585 Power 20,241 23,619 24,203 Depreciation and amortization, note 2.4(k) and note 10 140,252 144,862 156,212 Workers' profit sharing 17,199 12,804 3,837 Incremental costs related to COVID-19 pandemic and care and maintenance (c) 43,672 — — Provision for mine closure, note 12(b) 124,780 142,129 16,285 Ending balance of provision for net realizable value, note 8(b) 13,287 47,925 89,127 Ending balance of finished goods and in-process (222,258) (302,382) (341,213) 666,456 692,721 619,424
Schedule of incremental costs related to COVID-19 pandemic and care and maintenance	For the year ended to December 31, 2020 US$(000) Incremental costs (i) 27,157 Personnel expenses (i) 11,446 Labor expenses (ii) 5,069 43,672 (i) Represents incremental costs associated with care and maintenance status as part of Peru’s declaration of a National Emergency as a result of the COVID-19 outbreak, which restricted the Company’s operations. The costs primarily include labor costs (US$14.3 million), services (US$9.5 million) and other costs (US$3.3 million). (ii) Expenses associated to the implementation of the Surveillance, Prevention and Control Plan as part of gradual resumption of operations. Refer to Note 1(c) for additional information. Represents mainly payroll premiums distributed to employees.

Operating expenses, net (Tables

Operating expenses, net (Tables)	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Operating Expenses [line items]
Schedule of detailed information about operating expenses,net	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Exploration and advanced projects 19,279 33,669 62,643 Severance program 4,454 2,210 8,678 Social responsibility commitments 6,730 250 — Write-off of fixed assets 460 1,204 — Cost of sales from the sale of fixed assets 30 2,092 5,445 Tax fine 11 2,019 3,954 Revenue from sale of fixed assets (40) (8,088) (4,821) Others, net 3,398 2,631 256 34,322 35,987 76,155

Exploration in operating units

Exploration in operating units (Tables)	12 Months Ended
	Dec. 31, 2020
Exploration in operating units
Schedule of detailed information about exploration and evaluation assets	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance of finished goods and products in process, net of depreciation and amortization 444 2,837 5,157 Services provided by third parties 20,406 33,591 71,513 Direct labor 3,361 1,747 2,349 Purchase of land 2,162 — — Consumption of materials and supplies 1,426 3,712 8,594 Short-term and low-value lease 766 1,186 2,065 Electricity and water 471 905 1,337 Transport 12 71 192 Maintenance and repair 9 10 450 Other minor 283 548 910 Total exploration in operating units 28,896 41,770 87,410 Final balance of products in process and finished goods, net of depreciation and amortization (1,296) (444) (2,837) 28,044 44,163 89,730

Mining royalties (Tables)

Mining royalties (Tables)	12 Months Ended
	Dec. 31, 2020
Mining royalties
Schedule of detailed information about mining royalties	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Sindicato minero de Orcopampa S.A., note 29(b) 6,180 4,741 12,122 Royalties paid to the Peruvian State 5,569 8,091 9,266 11,749 12,832 21,388

Administrative expenses (Tables

Administrative expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of administrative expense [Line Items]
Schedule of detailed information of Administrative expenses	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Personnel expenses 34,500 38,566 34,656 Professional fees 10,517 13,924 15,324 Sundry charges 7,766 7,489 3,965 Depreciation and amortization 3,700 3,825 1,295 Board of Directors’ compensation 2,178 2,202 3,252 Software licenses 1,731 1,706 1,824 Subscriptions and quotes 1,405 1,492 1,938 Insurance 1,272 720 645 Communications 973 1,296 1,512 Donations 708 1,030 1,617 Short-term and low-value lease 611 1,011 5,818 Maintenance and repairs 579 953 2,732 Consumption of materials and supplies 393 422 436 Canons and tributes 318 410 388 Transport 255 878 1,212 Travel and mobility 153 373 467 Allowance for expected credit losses, note 7(f) 126 — 18 67,185 76,297 77,099
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of administrative expense [Line Items]
Schedule of detailed information of Administrative expenses	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Management expenses, note 24 874 1,341 1,317 Other 353 403 1,466 1,227 1,744 2,783

Exploration in non-operating _2

Exploration in non-operating areas (Tables)	12 Months Ended
	Dec. 31, 2020
Exploration in non-operating areas
Schedule of detailed information about exploration in non-operating areas	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Services provided by third parties 3,611 22,764 Personnel expenses 1,705 3,632 4,830 Services provided by third parties 1,538 766 1,211 Lands 420 1,528 1,867 Short-term and low-value lease 327 415 1,524 Consumption of materials and supplies 201 328 1,420 Other minor 958 1,599 2,691 8,475 11,879 36,307

Other, net (Tables)

Other, net (Tables)	12 Months Ended
	Dec. 31, 2020
Other, net
Schedule of details about components of other income expense	2020 2019 2018 US$(000) US$(000) US$(000) Other income Sale of supplies and merchandise to third parties 19,581 32,228 46,128 Reversal for impairment of spare parts and supplies, note 8(c) 15,762 11,641 4,665 Sale of services to third parties 5,626 6,415 3,512 Insurance claim recovery (b) 4,381 — 33,735 Revenue from commercial claims 3,800 2,098 — Sale of assets to third parties 1,356 19,405 3,863 Sale of supplies to related parties, note 30(a) 890 1,259 27 Income from previous years 475 1,311 1,504 Sale of investment in subsidiary 250 — 7,097 Sale of assets to related parties, note 30(a) — 11 30 Changes in provisions for exploration projects — — 2,433 Recovery of expenses from previous years — — 81 Income from rental of investment properties — — 45 Expiration of allowance for expected credit losses, note 7(f) — — 45 Other minor 1,646 2,632 (566) 53,767 77,000 102,599 Other expenses Disposal cost of sale of supplies and merchandise to third parties (26,463) (33,664) (57,897) Provision for impairment of spare parts and supplies, note 8(c) (17,266) (15,703) (11,704) Direct expenses (3,311) (15,992) (9,867) Expenses from previous years (1,402) (2,240) (1,831) Disposal cost of sale of supplies and merchandise to related parties (1,211) (2,944) (257) Changes in provisions for exploration projects, note 15(b) (642) (4,020) — Withdrawals and disposals of property, machinery and equipment, note 11(a) (586) (2,926) (6,626) Net cost of property, machinery and equipment to third parties, note 11(a) (192) (4,965) (626) Allowance for expected credit losses, note 7(f) (4) (25) (1,334) Net cost of transfer of investments (c) — — (11,178) Other minor — (9,236) (2,587) (51,077) (91,715) (103,907) 2,690 (14,715) (1,308) (b) For the year 2018, corresponds to the indemnity for the insurance claim of the rotor 2 of the 20X30 mill motor occurred in May 2017 of the subsidiary El Brocal. The total compensation for lost profits and consequential damages is US$38,793,000, while the associated costs for mitigation, repair and cost overruns are US$5,058,000, having a net effect on results of US$33,735,000, see note 26. As of December 31 of 2018, El Brocal has received the full amount of compensation from the insurance. (c) On April 30, 2018, the Company sold its investment in Buenaventura Ingenieros S.A. for US$7.1 million with a related sale costs of US$11.2 million. The transaction generated a net loss of US$4.1 million.

Finance costs and finance inc_2

Finance costs and finance income (Tables)	12 Months Ended
	Dec. 31, 2020
Finance costs and revenues [Line Items]
Disclosure Of Detailed Information About Finance Cost And Finance Revenues [Text Block]	Finance costs and finance income (a) 2020 2019 2018 US$(000) US$(000) US$(000) Interest on time deposits 1,074 4,971 5,176 Interests on third parties loans 355 460 561 Interests on tax claims 352 16 1,701 Interests on loans to related parties, note 30(a) 114 86 92 Dividends income — 3,625 — Other minor 155 517 340 2,050 9,675 7,870 Financial obligations amortized costs, note 16(f) 361 — — Unrealized change of the fair value related to contingent consideration liability (b) — — 1,815 Total finance revenues 2,411 9,675 9,685 Finance costs: Interest on borrowings 19,249 28,418 31,538 Commission for restructuring financial obligations, note 16 3,929 — — Interest on commercial obligations 626 — — Settlement of hedging financial instruments, note 32(b) 146 — — Tax on financial transactions 107 166 173 Interest on loans 55 1 2 Other minor 37 141 703 24,149 28,726 32,416 Accretion expense for mine closure, note 15(b) 6,672 10,390 4,982 Unrealized change of the fair value related to contingent consideration liability (b) 5,690 655 — Accrual of debt issuance costs, note 16(f) 976 2,109 1,024 Accretion expense for leases related to rights in use, nota 16(f) 180 293 — Other minor 155 — — 37,822
Schedule of contingent liabilities in business combination	(c) A reconciliation of fair value measurement of the contingent consideration liability is provided below: 2020 2019 2018 US$(000) US$(000) US$(000) Beginning balance 16,410 15,755 17,570 Variation of the fair value in profit and loss 5,690 655 (1,815) Final balance 22,100 16,410 15,755
Schedule of significant unobservable valuation input	Significant unobservable valuation inputs are provided below: 2020 2019 Annual average of future sales of mineral (US$000) 222,238 190,815 Useful life of mining properties 14 14 Pre-tax discount rate (%) 9.30 10.00
Minera Yanacocha SRL and subsidiary [Member]
Finance costs and revenues [Line Items]
Schedule of Finance cost	This caption is made up as follows: 2020 2019 2018 US$(000) US$(000) US$(000) Unwinding of the discount of the provision for mining closure, note 12(b) 32,049 36,709 36,015 Commissions of guarantee letters 3,153 2,485 2,113 Unwinding of debt instruments, note 14 1,497 1,497 735 Interests on tax contingency and others, see note 23 — 16,938 161 36,699 57,629 39,024

Deferred income tax (Tables)

Deferred income tax (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred income tax
Schedule of temporary difference, unused tax losses and unused tax credits	(a) Credit (debit) to Credit (debit) to Credit (debit) to consolidated Credit (debit) to consolidated As of consolidated statements of other As of consolidated statements of other As of January 1, statement of profit comprehensive Others December 31, statement of profit comprehensive December 31, 2019 or loss income movements 2019 or loss income 2020 US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Deferred asset for income tax Tax - loss carryforward 105,462 25,866 — — 131,328 27,185 — 158,513 Difference in depreciation and amortization rates 61,390 (103) — — 61,287 2,616 — 63,903 Provision for closure of mining units, net 11,829 3,684 — — 15,513 (1,313) — 14,200 Provision for impairment of value of inventory 6,833 661 — — 7,494 (195) — 7,299 Contingent consideration liability 4,648 193 — — 4,841 1,671 — 6,512 Impairment loss of long-lived assets 7,472 576 — — 8,048 (6,118) — 1,930 Other minor 9,200 (432) — 400 9,168 207 — 9,375 206,834 30,445 — 400 237,679 24,053 — 261,732 Derivative financial instruments — — — — — — 5,440 5,440 206,834 30,445 — 400 237,679 24,053 5,440 267,172 Deferred assets for mining royalties and special mining tax (6) — — 30 (30) — — Total deferred asset 206,870 30,439 — 400 237,709 24,023 5,440 267,172 Deferred liability for income tax Effect of translation into U.S. dollars (61,271) 14,995 — — (46,276) (31,853) — (78,129) Differences in amortization rates for development costs (65,988) (3,357) — — (69,345) 4,509 — (64,836) Difference in depreciation and amortization rates (36,468) (7,539) — — (44,007) (3,028) — (47,035) Fair value of mining concessions (12,745) (238) — — (12,983) (1,915) — (14,898) Other minors (22,700) 3,367 — — (19,333) (7,036) — (26,369) (199,172) — — (191,944) (39,323) — (231,267) Derivative financial instruments (813) — 813 — — — — — Deferred liability for mining royalties and special mining tax (2) (166) — — (168) (206) — (374) Total deferred liability (199,987) 7,062 813 — (192,112) (39,529) — (231,641) Deferred income tax asset, net 6,883 37,501 813 400 45,597 (15,506) 5,440 35,531
Schedule of detailed information about net deferred tax asset	2020 2019 US$(000) US$(000) Deferred income tax asset 73,850 74,556 Deferred income tax liability (38,319) (28,959) 35,531 45,597
Schedule of detailed information about provision for income taxes	(c) 2020 2019 2018 US$(000) US$(000) US$(000) Income tax expense Current (8,446) (11,851) (12,433) Deferred (15,270) 37,617 (10,029) (23,716) 25,766 (22,462) Mining Royalties and Special Mining Tax Current (1,478) (60) (4,449) Deferred (236) (116) 32 (1,714) (176) (4,417) Total income tax (25,430) 25,590 (26,879)
Schedule of reconciliation of accounting profit multiplied by applicable tax rates	(d) 2020 2019 2018 US$(000) US$(000) US$(000) Profit (loss) before income tax (130,318) (43,535) 27,033 Profit (loss) for discontinued operations 5,409 (10,514) (11,808) Profit (loss) before income tax (124,909) (54,049) 15,225 Theoretical gain (loss) for income tax 36,848 15,944 (4,491) Permanent items and others: Effect of translation into U.S. dollars (31,853) 14,995 (15,248) Non-deductible expenses (11,789) (6,877) (1,095) Foreign exchange difference of permanent items (10,524) (3,081) (2,371) Share in the results of associates and joint ventures (2,808) 14,074 (337) Unrecognized deferred tax asset (2,342) (9,265) (2,038) Deferred stripping cost (2,521) — — Mining royalties and special mining tax 1,273 (24) 3,118 Income tax income (expense) (23,716) 25,766 (22,462) Mining Royalties and Special Mining Tax (1,714) (176) (4,417) Total income tax (25,430) 25,590 (26,879)

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Commitments and contingencies [Line Items]
Schedule of outstanding signed commitments	The table below sets out the outstanding signed commitments at year ends by financial institution. 2020 2019 2018 US$(000) US$(000) US$(000) Scotiabank 259,027 253,317 235,000 Pacífico Zurich 200,000 200,000 — La Positiva 70,000 70,000 — Rimac (Travelers) 60,000 60,000 — Santander 25,000 — — MUFG Bank 25,000 — — Banco de Credito del Peru (a) — — 114,251 BBVA Continental — — 190,000 639,027 583,317 539,251 (a)

Transactions with associates co

Transactions with associates companies (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of acquired receivables [line items]
Schedule of transactions with associates companies.	(a) 2020 2019 2018 US$(000) US$(000) US$(000) Associates - Revenues from: Royalties 18,638 22,297 20,385 Energy 3,173 3,181 3,002 Supplies, note 26(a) 890 1,259 27 Mineral 211 683 1,321 Mining concessions, property, plant and equipment, note 26(a) — 11 30 Purchase of: Supplies 55 9 44 Services rendered to: Administrative and Management services 672 359 214 Services of energy transmission 320 287 393 Operation and maintenance services related to energy transmission 280 287 290 Constructions services 72 4 — Engineering services — — 348 Dividends received and collected from: Compañía Minera Coimolache S.A. 3,649 4,011 7,623 Sociedad Minera Cerro Verde S.A.A. — 29,377 39,169 Joint Venture - Interest income: Transportadora Callao S.A., note 27(a) 114 86 92 Non-controlling shareholders - Dividends paid to: Newmont Peru Limited - Sucursal del Perú 5,140 6,500 5,560
accounts receivable and payable from/to associates	(b) 2020 2019 US$(000) US$(000) Trade and other receivables, note 7(a) Minera Yanacocha S.R.L. 5,604 5,920 Compañía Minera Coimolache S.A. 469 327 6,073 6,247 Other receivables, note 7(a) Transportadora Callao S.A. 2,035 1,951 Compañía Minera Coimolache S.A. 277 1,016 2,312 2,967 8,385 9,214 Trade and other payables, note 14(a) Compañía Minera Coimolache S.A. 141 27 Sociedad Minera Cerro Verde S.A.A. − 2 141 Other payables, note 14(a) Compañía Minera Coimolache S.A. 292 — Other minor 36 51 328 51
Schedule of Group's Key executives compensation	The Group’s key executives’ compensation (including the related income taxes assumed by the Group) for the years 2020 and 2019 are presented below: 2020 2019 US$(000) US$(000) Accounts payable: Directors’ remuneration 1,797 1,746 Salaries 856 1,020 Bonus to officers 5,828 6,205 Total 8,481 8,971 Disbursements: Salaries 11,586 12,690 Directors’ compensations 1,797 1,746 Total 13,383 14,436
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of acquired receivables [line items]
Schedule of transactions carried out by the company with its related parties	(a) 2020 2019 2018 US$(000) US$(000) US$(000) Royalties accrued: Affiliates: S.M.R.L. Chaupiloma Dos de Cajamarca, note 18 and 1(a) 18,638 22,297 20,385 Services rendered by: Affiliates: Newmont Peru S.R.L. (management services) (b) 9,017 10,729 12,837 Newmont International Services 5,264 10,822 5,181 Newmont USA Limited 10,214 4,118 5,381 (b)
Schedule of outstanding balances with related party transactions	(c) 2020 2019 US$(000) US$(000) Balance receivable from related parties, note 6 Newmont International Services Limited 1,431 168 Newmont USA Limited 435 144 Oroplata S.A. 254 — Suriname Gold Company — 135 NVL, USA Limited, Delaware 156 102 Newmont Peru S.R.L. 22 26 Newmont Global Employment Limited 5 20 Others (3) 3 2,300 598 Balance payable for related parties, note 11 S.M.R Chaupiloma Dos de Cajamarca 4,596 4,863 Newmont International Service Limited 4,227 3,297 Newmont Peru S.R.L. 1,033 1,101 Newmont Technologies Limited. 142 1,042 Newmont USA Limited. 2,366 1,034 Newmont US Carlin Limited — 3 Others 10 86 12,374 11,426

Disclosure of information on _2

Disclosure of information on segments (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of information on segments
Schedule of reportable segments details	Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Tinka Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache Resources operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. Ltd. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Results: Continuing operations Sales: Sale of goods 90,420 77,825 32,034 142,833 255,275 33,033 — — — — — 36,541 — 592,394 2,538,593 203,163 — 4,002,111 (3,364,492) 637,619 Sale of Services — — — — — — — 48,254 14,753 — 607 15,335 — 27,768 — — — 106,717 (86,432) 20,285 Royalty income — — — — — — — — — 18,638 — - — — — — — 18,638 — 18,638 Total operating income 90,420 77,825 32,034 142,833 255,275 33,033 — 48,254 14,753 18,638 607 51,876 — 620,162 2,538,593 203,163 — 4,127,466 (3,450,924) 676,542 Operating costs Cost of sales of goods, excluding depreciation and amortization (100,097) (37,139) (16,679) (64,107) (170,148) (31,978) — — — — — (38,607) — (666,456) (1,809,255) (148,122) — (3,082,588) 2,688,700 (393,888) Unabsorbed cost due to production stoppage (9,630) (3,849) (5,167) (822) (10,216) (203) — — — — — (597) — (1,247) — — — (31,731) 3,973 (27,758) Cost of services, excluding depreciation and amortization — — — — — — — (17,868) — — — (5,075) — — — — — — 21,389 (1,554) Depreciation and amortization (16,752) (8,102) (6,412) (72,714) (59,433) (6,595) — (9,347) — — — (10,876) — — — — — (190,231) 611 (189,620) Exploration in operating units (6,731) (5,198) (3,167) (7,157) (5,790) (1) — — — — — — — — — — — (28,044) — (28,044) Mining royalties (1,068) (6,943) (278) (1,228) (1,902) (330) — — — — — — — — — — — (11,749) — (11,749) Total operating costs (134,278) (61,231) (31,703) (146,028) (247,489) (39,107) — (27,215) — — — (55,155) — (667,703) (1,809,255) (148,122) — (3,367,286) 2,714,673 (652,613) Gross profit (loss) (43,858) 16,594 331 (3,195) 7,786 (6,074) — 21,039 14,753 18,638 607 (3,279) (47,541) 729,338 55,041 — 760,180 (736,251) 23,929 Operating expenses, net Administrative expenses (9,140) (7,948) (3,288) (14,548) (7,536) (2,434) (1,649) (2,863) (10,939) (112) (398) (1,498) (5,965) (1,227) — (4,043) (2,311) (75,899) 8,714 (67,185) Selling expenses (3,806) (436) (438) (3,862) (9,070) (104) — (784) — — — (687) — (1,922) (97,680) (1,290) — (120,079) 101,546 (18,533) Write –off of stripping activity asset — − − − (11,633) — — — — — — — — — — — — (11,633) — (11,633) Exploration in non-operating areas (27) − − − (86) (4,769) — — — — — — (3,623) — — — — (8,505) 30 (8,475) Reversal of contingent and others 28 (322) (195) 10 (1,145) 173 33 501 — — — 9 (3,242) — — — — (4,150) — (4,150) Impairment recovery (loss) of long-lived assets − − 2,083 − — — — — — — — — — — — — — 2,083 — 2,083 Other, net 2,776 (1,922) (212) (1,376) (712) (593) 796 — 63 (10) 989 1,186 (34,322) (32,327) 188 — (60,929) 63,619 2,690 Total operating expenses, net (10,169) (2,050) (19,776) (7,846) (2,209) (2,350) (10,939) (49) (408) (1,187) (11,644) (37,471) (130,007) (5,145) (2,311) (279,512) 173,909 (105,203) Operating profit (loss) (54,027) 5,966 (1,719) (22,971) (17,137) (13,920) (2,209) 18,689 3,814 18,589 199 (4,466) (11,644) (85,012) 599,331 49,896 (2,311) 481,068 (562,342) (81,274) Finance income − − − − 780 1 1,622 27 9 — 38 1,405 8,100 2,350 411 — 15,000 (12,589) 2,411 Finance costs (268) (913) (636) (390) (9,175) (1,484) (387) (4,690) (55) (2) (1) (175) (21,322) (36,699) (142,675) (2,532) — (221,404) 183,582 (37,822) Share in the results of associates and joint venture − − − − (253) — — 4,331 — — (67,018) — (28,861) — — — — (91,801) 82,284 (9,517) Net loss from currency exchange difference (72) 126 78 130 (404) (306) (808) (402) 65 (49) 91 (984) (1,576) 1,180 52,464 (1,267) — 48,266 (52,382) (4,116) Profit (loss) before income tax (54,367) 5,179 (2,277) (23,231) (26,712) (14,930) (3,403) 19,550 3,851 18,547 (66,729) (5,587) (61,998) (112,431) 511,470 46,508 (2,311) 231,129 (361,447) (130,318) Current income tax (60) (55) (16) (93) (1,483) (17) — (780) (1,475) (5,543) (177) (171) — (53,018) (236,926) (24,801) — (324,615) 314,691 (9,924) Deferred income tax − − − − (3,346) 235 — (9,388) 172 — — (347) (2,888) — — 1,079 — (14,483) (1,023) (15,506) Profit (loss) from continuing operations (54,427) 5,124 (2,293) (23,324) (31,541) (14,712) (3,403) 9,382 2,548 13,004 (66,906) (6,105) (64,886) (165,449) 274,544 22,786 (2,311) (107,969) (47,779) (155,748) Net profit (loss) from discontinued operations 5,409 Loss for the year (150,339) Total assets 145,287 47,855 45,999 329,384 720,150 134,562 425,731 357,830 15,932 6,813 362,419 90,337 2,343,010 2,313,438 7,767,459 418,966 64,539 15,589,711 (11,610,094) 3,979,617 Total liabilities 62,024 46,787 34,431 38,923 366,705 78,916 22,695 166,396 5,569 2,694 340 13,025 410,197 1,989,052 2,132,131 150,463 876 5,521,224 (4,341,464) 1,179,760 Other segment information Investment in associates and joint ventures − − − − 2,374 — — 94,117 — — 159,529 — 2,040,598 — — — — 2,296,618 (807,843) 1,488,775 Capital Expenditures 1,064 1,059 3,531 23,955 825 24,648 371 106 — — 4,611 933 — — — — 71,546 — 71,546 Changes in estimates of mine closures plans 11,745 5,042 771 1,186 2,437 9,569 808 — — — — — — — — — — 31,558 — 31,558 Fair value for contingent consideration liability — — — — — — — — — — — — (5,690) — — — — (5,690) — (5,690) Accounts receivable from sale of assets — — — — — — — — — — — — 8,233 — — — — 8,233 — 8,233 Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Results: Continuing operations Sales: Sale of goods 186,016 58,902 40,082 188,175 299,252 43,520 — — — — — 6,046 — 734,526 2,896,894 241,173 4,694,586 (3,872,656) 821,930 Sale of Services — — — — — — — 59,690 15,687 — 615 19,557 — 4,776 — — 100,325 (76,664) 23,661 Royalty income — — — — — — — — — 22,297 — — — — — — 22,297 — 22,297 Total operating income 186,016 58,902 40,082 188,175 299,252 43,520 — 59,690 15,687 22,297 615 25,603 — 739,302 2,896,894 241,173 4,817,208 (3,949,320) 867,888 Operating costs Cost of sales of goods, excluding depreciation and amortization (128,523) (54,739) (26,586) (76,827) (223,998) (39,693) — — — — — (8,517) — (692,721) (1,961,577) (187,156) (3,400,337) 288,743 (512,874) Cost of services, excluding depreciation and amortization — — — — — — — (22,209) — — — (6,167) — (1,160) — — (29,536) 26,158 (3,378) Depreciation and amortization (21,053) (7,563) (9,178) (83,657) (74,335) (9,103) — (10,075) — — — (11,979) — — — — (226,943) 608 (226,335) Exploration in operating units (8,917) (9,040) (5,864) (11,613) (8,727) (2) — — — — — — — — — — (44,163) — (44,163) Mining royalties (1,955) (5,220) (418) (1,857) (2,953) (429) — — — — — — — — — — (12,832) — (12,832) Total operating costs (160,448) (76,562) (42,046) (173,954) (310,013) (49,227) — (32,284) — — — (26,663) — (693,881) (1,961,577) (187,156) (3,713,811) 2,914,229 (799,582) Gross profit (loss) 25,568 (17,660) (1,964) 14,221 (10,761) (5,707) — 27,406 15,687 22,297 615 (1,060) — 45,421 935,317 54,017 1,103,397 (1,035,091) 68,306 Operating expenses, net Administrative expenses (16,115) (5,209) (3,561) (16,512) (8,865) (2,223) (2,416) (4,073) (11,607) (188) (363) (1,310) (4,894) (1,744) — (4,638) (83,718) 7,421 (76,297) Selling expenses (6,876) (258) (403) (3,940) (10,856) (321) — (1,115) — — — (1,324) − (1,722) (109,483) (1,163) (13,461) 113,148 (24,313) Exploration in non-operating areas (2,534) — — — (2,011) (2,784) (90) — — — — — (4,492) — — — (11,911) 32 (11,879) Reversal (provision) of contingent and others (183) 1 (148) 127 2,079 (98) (40) 166 — — — — 1,067 — — — 2,971 (3) 2,968 Impairment recovery (loss) of long-lived assets — — (2,083) — — — — — — — — — — — — — (2,083) — (2,083) Other, net (4,147) (8,104) (776) (3,767) (6,568) (1,119) (419) 13,813 — 135 79 341 (2,686) (35,987) (37,436) (5,667) (92,308) 77,593 (14,715) Total operating expenses, net (29,855) (13,570) (6,971) (24,092) (26,221) (6,545) (2,965) 8,791 (11,607) (53) (284) (2,293) (11,005) (39,453) (146,919) (11,468) (324,510) 198,191 (126,319) Operating profit (loss) (4,287) (31,230) (8,935) (9,871) (36,982) (12,252) (2,965) 36,197 4,080 22,244 331 (3,353) (11,005) 5,968 788,398 42,549 778,887 (836,900) (58,013) Finance income — — — — 417 2,006 14 263 15 30 10 277 7,751 18,430 10,356 549 40,118 (30,443) 9,675 Finance costs (532) (733) (1,002) (505) (11,440) (3,715) (561) (7,483) (89) (4) (6) (990) (16,249) (57,629) (115,877) (3,598) (220,413) 178,240 (42,173) Share in the results of associates and joint ventures — — — — (44) — — 10,374 — — (53,143) — 45,778 — — — 2,965 44,745 47,710 Net gain (loss) from currency exchange difference (124) 76 3 (12) (191) 14 (156) 62 (119) (9) (9) 208 (481) 2,902 5,574 277 8,015 (8,749) (734) Profit (loss) before income tax (4,943) (31,887) (9,934) (10,388) (48,240) (13,947) (3,668) 39,413 3,887 22,261 (52,817) (3,858) 25,794 (30,329) 688,451 39,777 609,572 (653,107) (43,535) Current income tax — — — — (25) (35) — (4,044) (1,223) (6,546) (39) — − (64,928) (298,074) (26,335) (401,249) 389,338 (11,911) Deferred income tax — — — — 15,410 (5,382) — (5,515) 91 — — 1,554 31,344 — — 15,017 52,519 (15,018) 37,501 Profit (loss) from continuing operations (4,943) (31,887) (9,934) (10,388) (32,855) (19,364) (3,668) 29,854 2,755 15,715 (52,856) (2,304) 57,138 (95,257) 390,377 28,459 260,842 (278,787) (17,945) Loss from discontinued operations (10,514) Loss for the year (28,459) Total assets 146,486 46,750 41,858 425,297 725,973 138,458 398,838 382,481 13,822 6,252 458,212 104,335 2,371,464 2,312,072 7,809,424 379,915 15,761,637 (11,654,363) 4,107,274 Total liabilities 42,265 36,945 35,045 34,142 329,869 68,100 23,223 183,426 6,007 2,286 101 20,918 407,153 1,853,644 2,450,101 125,097 5,618,322 (4,479,248) 1,139,074 Other segment information Investment in associates and joint ventures — — — — — — — 89,786 — — 232,154 — 2,073,745 — — — 2,395,685 (907,438) 1,488,247 Capital Expenditures 31,479 1,323 1,559 9,641 28,298 1,629 26,494 223 85 — — 1,443 453 — — — 102,627 — 102,627 Changes in estimates of mine closures plans 176 10,493 2,430 2,277 5,122 5,021 — — — — — — 1,203 — — — 26,722 — 26,722 Fair value for contingent consideration liability — — — — — — — — — — — — (655) — — — (655) — (655) Accounts receivable from sale of assets — — — — — — — 21,023 — — — — 625 — — — 21,648 — 21,648 Equity accounted investees Exploration and Compañía development Energy Rental of Holding of Minera Sociedad Minera Total Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja mining generation and Insurance mining investment Industrial Yanacocha Minera Cerro Coimolache operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) projects transmission brokerage concessions in shares activities Corporate S.R.L. Verde S.A.A S.A. segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2018 Results: Continuing operations Sales Sale of goods 257,282 153,003 34,104 225,281 333,560 96,611 — — — — — 6,655 — 658,653 3,061,930 225,447 5,052,526 (3,946,197) 1,106,329 Sale of Services — — — — — — — 62,962 14,986 — 615 19,908 — 21,965 — — 120,436 (96,435) 24,001 Royalty income — — — — — — — — — 20,385 — — — — — — 20,385 — 20,385 Total operating income 257,282 153,003 34,104 225,281 333,560 96,611 — 62,962 14,986 20,385 615 26,563 — 680,618 3,061,930 225,447 5,193,347 (4,042,632) 1,150,715 Operating costs Cost of sales of goods, excluding depreciation and amortization (151,817) (97,006) (26,558) (92,829) (216,560) (68,993) — — — — — (6,280) — (619,424) (2,018,876) (170,866) (3,469,209) 2,855,828 (613,381) Cost of services, excluding depreciation and amortization — — — — — — — (25,499) — — — (8,966) — (2,217) — — (36,682) 32,364 (4,318) Depreciation and amortization (26,181) (8,802) (3,353) (77,029) (67,666) (34,088) — (10,248) — — — (11,483) — — — — (238,850) (29) (238,879) Exploration in operating units (20,898) (29,563) (8,646) (20,553) (9,996) (74) — — — — — — — — — — (89,730) — (89,730) Mining royalties (2,243) (13,669) (237) (1,936) (2,345) (957) — — — — — — — — — — (21,387) (1) (21,388) Total operating costs (201,139) (149,040) (38,794) (192,347) (296,567) (104,112) — (35,747) — — — (26,729) — (621,641) (2,018,876) (170,866) (43,855,858) 2,888,162 (967,696) Gross profit (loss) 56,143 3,963 (4,690) 32,934 36,993 (7,501) — 27,215 14,986 20,385 615 (166) — 58,977 1,043,054 54,581 1,337,489 (1,154,470) 183,019 Operating expenses, net Administrative expenses (24,119) (15,100) (2,524) (17,822) (9,906) (3,435) (3,143) (3,972) (11,900) (220) (512) (1,627) 2,377 (2,783) — (5,644) (100,330) 23,231 (77,099) Selling expenses (8,213) (775) (356) (3,046) (12,201) (784) — (1,173) — — — (924) — (2,627) (137,008) (1,135) (168,242) 141,294 (26,948) Exploration in non-operating areas (18,339) — — — (7,199) (5,002) (2,883) — — — — — (4,091) — — — (37,514) 1,207 (36,307) Reversal (provision) of contingent and others 6,784 (121) 947 1,263 (3,711) (57) 6,130 (56) — — — 2 (111) — — — 11,070 178 11,248 Impairment recovery (loss) of long-lived assets — — — — — 5,693 — — — — — — — — — — 5,693 — 5,693 Other, net (5,953) (3,386) (1,050) (5,599) 32,565 (669) 138 562 — — 2,773 194 (2,235) (76,155) (68,683) (325) (127,823) 126,515 (1,308) Total operating expenses, net (49,840) (19,382) (2,983) (25,204) (452) (4,254) 242 (4,639) (11,900) (220) 2,261 (2,355) (4,060) (81,565) (205,691) (7,104) (417,146) 292,425 (124,721) Operating profit (loss) 6,303 (15,419) (7,673) 7,730 36,541 (11,755) 242 22,576 3,086 20,165 2,876 (2,521) (4,060) (22,588) 837,363 47,477 920,343 (862,045) 58,298 Finance income — — — — 418 1,649 — 179 — 21 8 127 9,293 11,448 28,089 357 51,589 (41,904) 9,685 Finance costs (308) (395) (95) (262) (10,365) (1,946) (222) (7,576) (2) (11) (25) (932) (17,194) (39,024) (426,733) (2,935) (508,025) 469,603 (38,422) Share in the results of associates and joint ventures — — — — — — — 8,589 — — (25,517) — 15,081 — — — (1,847) 703 (1,144) Net gain (loss) from currency exchange difference 196 168 8 209 108 (224) (846) (346) 19 18 2 (482) (206) (2,056) 6,161 (852) 1,877 (3,261) (1,384) Profit (loss) before income tax 6,191 (15,646) (7,760) 7,677 26,702 (12,276) (826) 23,422 3,103 20,193 (22,656) (3,808) 2,914 (52,220) 444,880 44,047 463,937 (436,904) 27,033 Current income tax (768) (559) (72) (656) (8,332) (24) — — — (6,025) (444) (2) — (30,368) (325,170) (23,405) (395,825) 378,943 (16,882) Deferred income tax — — — — (10,803) (1,220) — (7,584) — — — 106 9,514 1,071 — 4,942 (3,974) (6,023) (9,997) Profit (loss) from continuing operations 5,423 (16,205) (7,832) 7,021 7,567 (13,520) (826) 15,838 3,103 14,168 (23,100) (3,704) 12,428 (81,517) 119,710 25,584 64,138 (63,984) 154 Loss from discontinued operations (11,808) Loss for the year (11,654) Total assets 126,374 39,725 39,537 461,335 773,554 158,718 372,344 366,354 12,154 7,154 520,484 106,391 2,421,547 2,047,472 7,554,712 361,669 15,369,524 (11,152,303) 4,217,221 Total liabilities 45,227 30,749 29,469 28,502 340,735 68,615 18,986 197,152 4,597 2,653 603 20,671 425,893 1,463,749 2,445,840 125,307 5,248,748 (4,061,092) 1,187,656 Other segment information Investment in associates and joint ventures — — — — — — — — — — — — 1,473,382 — — — 1,473,382 — 1,473,382 Capital Expenditures 18,429 6,225 2,984 18,858 29,572 13,159 17,141 118 — — — 1,816 2,968 — — — 111,270 — 111,270 Changes in estimates of mine closures plans 4,101 1,003 16,484 (447) 19,926 (6,915) 9,063 — — — — — (341) — — — 42,874 — 42,874 Fair value for contingent consideration liability — — — — — — 1,815 — — — — — — — — — 1,815 — 1,815 Accounts receivable from sale of assets — — — — — — — — — — 1,622 — 1,093 — — — 2,715 — 2,715
Schedule of reconciliation segment profit (loss) to the consolidated profit (loss) from continued operations	The reconciliation of segment profit (loss) to the consolidated profit (loss) from continued operations follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments profit (loss) (107,969) 260,842 64,138 Elimination of profit of equity accounted investees, not consolidated (owned by third parties) (129,570) (323,578) (63,777) Elimination of intercompany sales (89,006) (71,951) (74,637) Elimination of cost of sales and operating expenses intercompany 89,593 71,697 76,780 Elimination of share in the results of subsidiaries and associates 82,284 44,745 1,582 Others (1,080) 300 (3,932) Consolidated profit (loss) from continued operations (155,748) (17,945) 154
Schedule of econciliation segment assets to the consolidated assets	The reconciliation of segment assets to the consolidated assets follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments assets 15,589,711 15,761,637 15,369,524 Elimination of assets of equity accounted investees, not consolidated (owned by third parties) (10,564,402) (10,501,411) (9,963,853) Elimination of the subsidiaries and associates of the Parent company (1,005,368) (1,111,454) (1,184,240) Elimination of intercompany receivables (57,810) (64,708) (32,444) Others 17,486 23,210 28,234 Consolidated assets 3,979,617 4,107,274 4,217,221
Schedule of reconciliation segment liabilities to the consolidated liabilities	The reconciliation of segment liabilities to the consolidated liabilities follows: 2020 2019 2018 US$(000) US$(000) US$(000) Segments liabilities 5,521,224 5,618,322 5,248,748 Elimination of liabilities of equity accounted investees, not consolidated (4,272,522) (4,428,842) (4,034,896) Elimination of intercompany payables (68,961) (50,395) (27,822) Others 19 (11) 1,626 Consolidated liabilities 1,179,760 1,139,074 1,187,656
Schedule of revenue from contract with customers	Rental of Holding of Total Adjustments Ucchuchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja Energy generation Insurance mining investment Industrial operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) and transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2020 Revenues by type of customers: Sales by customers - External 91,007 77,907 31,663 143,233 251,974 2,554 — — — — 36,336 634,674 — 634,674 Inter-segment — — — — (160) 30,470 — — — — — 30,310 (30,310) — 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - External — — — — — — 5,532 14,753 — — — 20,285 — 20,285 Inter-segment — — — — — — 42,722 — — 607 15,335 58,664 (58,664) — — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties - External — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Revenues by geographic region: Metal and concentrates sales - Peru 77,077 7,097 3,238 81,058 216,481 32,886 — — — — 2,327 420,164 (30,310) 389,854 America-other than Peru — 70,810 — 60,273 — 138 — — — — 32,279 163,500 — 163,500 Europa 11,503 — 28,425 552 — — — — — — 1,730 42,210 — 42,210 Asia 2,427 — — 1,350 35,333 — — — — — — 39,110 — 39,110 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - Peru — — — — — — 48,254 14,641 — 607 15,335 78,837 (58,664) 20,173 America-other than Peru — — — — — — — 92 — — — 92 — 92 Europa — — — — — — — 20 — — — 20 — 20 — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties - Peru — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Revenues by type of good or services: Sales by metal - Silver 97,903 185 33,631 32,766 63,312 2,241 — — — — 2,337 232,375 (1,877) 230,498 Gold 14 77,964 14 105,359 13,667 32,672 — — — — 30,023 259,713 (30,123) 229,590 Copper — — 48 — 181,007 — — — — — — 181,055 256 181,311 Zinc 8,356 — — 9,513 102,677 — — — — — — 120,546 — 120,546 Lead 6,760 — 529 10,688 30,449 — — — — — — 48,426 — 48,426 Manganese sulfate — — — — — — — — — — 4,051 4,051 — 4,051 113,033 78,149 34,222 158,326 391,112 34,913 — — — — 36,411 846,166 (31,744) 814,422 Commercial deductions (22,026) (242) (2,559) (15,093) (139,298) (1,889) — — — — (75) (181,182) 1,434 (179,748) 91,007 77,907 31,663 143,233 251,814 33,024 — — — — 36,336 664,984 (30,310) 634,674 Services - — — — — — — 48,254 14,753 — 607 15,335 78,949 (58,664) 20,285 Royalties income - — — — — — — — — 18,638 — — 18,638 — 18,638 91,007 77,907 31,663 143,233 251,814 33,024 48,254 14,753 18,638 607 51,671 762,571 (88,974) 673,597 Rental of Holding of Total Adjustments Ucchuchacua Tambomayo Orcopampa Julcani Colquijirca La Zanja Energy generation Insurance mining investment Industrial operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) and transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2019 Revenues by type of customers: Sales by customers - External 184,982 186,668 58,796 39,639 294,842 43,894 — — — — 6,046 814,867 — 814,867 Inter-segment — — — — 62 — — — — — — 62 (62) — 184,982 186,668 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - External — — — — — — 7,974 15,687 — — — 23,661 — 23,661 Inter-segment — — — — — — 51,716 — — 615 19,557 71,888 (71,888) — — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties - External — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Revenues by geographic region: Metal and concentrates sales - Peru 143,512 79,631 4,833 10,451 236,844 683 — — — — 1,086 477,040 (62) 476,978 America - other than Peru — 79,537 53,963 — — 37,326 — — — — 943 171,769 — 171,769 Europe 27,848 135 — 22,590 — 5,885 — — — — 4,017 60,475 — 60,475 Asia 13,622 27,365 — 6,598 58,060 — — — — — — 105,645 — 105,645 184,982 186,668 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - Peru — — — — — — 59,690 15,527 — 615 19,557 95,389 (71,888) 23,501 America - other than Peru — — — — — — — 130 — — — 130 — 130 Europe — — — — — — — 30 — — — 30 — 30 — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties - Peru — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Revenues by type of good or services: Sales by metal - Gold — 134,387 58,737 278 18,104 42,698 — — — — — 254,204 (10) 254,194 Silver 159,713 38,112 263 40,889 57,903 1,300 — — — — — 298,180 (9) 298,171 Copper — — — 79 238,327 — — — — — — 238,406 (102) 238,304 Zinc 38,143 19,867 — — 91,307 — — — — — — 149,317 — 149,317 Lead 29,735 14,016 — 1,627 43,763 — — — — — — 89,141 — 89,141 Manganese sulfate — — — — — — — — — — 6,046 6,046 — 6,046 227,591 206,382 59,000 42,873 449,404 43,998 — — — — 6,046 1,035,294 (121) 1,035,173 Commercial deductions (42,609) (19,714) (203) (3,234) (154,500) (104) — — — — — (220,365) 59 (220,306) 184,982 186,664 58,796 39,639 294,904 43,894 — — — — 6,046 814,929 (62) 814,867 Services - — — — — — — 59,690 15,687 — 615 19,557 95,549 (71,888) 23,661 Royalties income - — — — — — — — — 22,297 — — 22,297 — 22,297 184,982 186,668 58,796 39,639 294,904 43,894 59,690 15,687 22,297 615 25,603 932,775 (71,950) 860,825 Energy Rental of Holding of Adjustments Uchucchacua Orcopampa Julcani Tambomayo Colquijirca La Zanja generation and Insurance mining investment Industrial Total operating and (Operation) (Operation) (Operation) (Operation) (Operation) (Operation) transmission brokerage concessions in shares activities segments eliminations Total US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) US$(000) Year 2018 Revenues by type of customers: Sales by customers - External 257,840 225,339 153,240 33,864 339,414 96,600 — — — — 6,655 1,112,952 — 1,112,952 Inter-segment — — — — 167 — — — — — — 167 (167) — 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - External — — — — — — 9,015 14,986 — — — 24,001 — 24,001 Inter-segment — — — — — — 53,947 — — 615 19,909 74,471 (74,471) — — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties - External — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338 Revenues by geographic region: Metal and concentrates sales - Peru 170,986 63,049 10,808 15,261 257,559 2,770 — — — — 751 521,184 (167) 521,017 America - other than Peru — 159,530 142,432 — — 67,756 — — — — 906 370,624 — 370,624 Europe 57,472 2,760 — 9,488 — 26,074 — — — — 4,998 100,792 — 100,792 Asia 29,382 — — 9,115 82,022 — — — — — — 120,519 — 120,519 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - Peru — — — — — — 62,962 14,787 — 615 19,909 98,273 (74,561) 23,712 America - other than Peru — — — — — — — 199 — — — 199 90 289 — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties - Peru — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338 Revenues by type of good or services: Sales by metal - Gold 11 150,939 149,092 28 18,463 93,358 — — — — — 411,891 (14) 411,877 Silver 217,843 54,109 5,243 35,307 46,060 3,583 — — — — — 362,145 (23) 362,122 Copper — — (221) 129 275,119 — — — — — — 275,027 (266) 274,761 Zinc 45,194 18,197 — — 101,275 — — — — — — 164,666 — 164,666 Lead 36,238 6,703 — 1,996 40,618 — — — — — — 85,555 — 85,555 Manganese sulfate — — — — — — — — — — 6,655 6,655 — 6,655 299,286 229,948 154,114 37,460 481,535 96,941 — — — — 6,655 1,305,939 (303) 1,305,636 Commercial deductions (41,446) (4,609) (874) (3,596) (141,954) (341) — — — — — (192,820) 136 (192,684) 257,840 225,339 153,240 33,864 339,581 96,600 — — — — 6,655 1,113,119 (167) 1,112,952 Services - — — — — — — 62,962 14,986 — 615 19,909 98,472 (74,471) 24,001 Royalties income - — — — — — — — — 20,385 — — 20,385 — 20,385 257,840 225,339 153,240 33,864 339,581 96,600 62,962 14,986 20,385 615 26,564 1,231,976 (74,638) 1,157,338

Derivative financial instrume_2

Derivative financial instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of derivative financial instruments [Line Items]
Schedule of detailed information about hedge derivatives financial instruments	The table below presents the composition of open transactions included in the hedge derivative financial instruments as of December 31, 2020: Quotations Quotation period Concentrate Metric tone Fixed Futures Fair value US$/DMT US$/ DMT US$(000) January 2021 Copper 1,250 6,500 7,758 (1,572) February 2021 Copper 1,250 6,500 7,762 (1,577) March 2021 Copper 2,250 6,633 7,767 (2,549) April 2021 Copper 2,000 6,750 7,769 (2,036) May 2021 Copper 3,000 6,897 7,769 (2,615) June 2021 Copper 3,000 6,967 7,770 (2,408) July 2021 Copper 2,000 7,025 7,768 (1,483) August 2021 Copper 2,000 7,100 7,765 (1,327) September 2021 Copper 2,000 7,500 7,762 (523) October 2021 Copper 2,000 7,900 7,757 286 20,750 (15,804)
Schedule of hedged financial instruments	This caption is made up as follows: 2020 2019 US$(000) US$(000) Copper prices hedge (a) (15,804) — Interest rate hedge (b) (2,635) — (18,439) —
Schedule of composition of the operations to be settled that are part of the liability for hedging derivative instrument	The following is the composition of the operations to be settled that are part of the liability for hedging derivative instrument as of December 31, 2020: LIBOR of three months Maturity Amount Fixed Futures Fair value US$(000) US$(000) October 2022 81,666 2.632 % 2.06% - 2.14 % (785) October 2022 74,167 2.632 % 2.06% - 2.14 % (712) October 2022 74,167 0.732 % 0.16% - 0.24 % (706) July 2022 45,000 2.632 % 2.06% - 2.14 % (432) 275,000 (2,635)
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of derivative financial instruments [Line Items]
Schedule of embedded derivatives	As discussed in Note 2(d), the Company’s sales create exposure to changes in the market prices of copper and molybdenum which are considered embedded derivatives. As of December 31, 2020 and 2019, information about the Company’s embedded derivatives is as follows: As of December 31, 2020 Pounds payable Maturity Provisional pricing Forward pricing Fair value provision (000) US$/Pound US$/Pound US$(000) Copper Concentrate 267,872 January 2021 to May 2021 Between 2.908 and 3.545 Between 3.519 and 3.524 98,424 Copper Cathode 3,964 January 2021 Between 3.535 and 3.612 3.519 (235) Molybdenum 3,382 January 2021 to February 2021 Between 7.360 and 7.884 8.658 3,245 101,434 (a) As of December 31, 2019 Pounds payable Maturity Provisional pricing Forward pricing Fair value provision (000) US$/Pound US$/Pound US$(000) Copper Concentrate 246,441 January 2020 to May 2020 Between 2.567 and 2.774 Between 2.793 and 2.804 39,727 Copper Cathode 4,410 January 2020 2.791 2.793 9 Molybdenum 5,370 January 2020 to February 2020 Between 7.857 and 9.724 8.025 (3,031) 36,705 (a) (a) Embedded derivatives are recorded on the statement of financial position in “Trade account receivable – related parties” (US$101.4 million as of December 31, 2020, and US$36.1 million as of December 31, 2019) and “Trade accounts receivable (net)” (US$0.6 million as of December 31, 2019).

Financial - risk management o_2

Financial - risk management objectives and policies (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of financial risk management objectives and policies [Line Items]
Schedule of foreign-currency exchange rates risk	A table showing the effect on results of a reasonable change in foreign-currency exchange rates is presented below, with all other variables kept constant: Exchange-rate Effect on profit (loss) increase/decrease before income tax US$(000) 2020 Exchange rate 10 % 9,282 Exchange rate (10) % (9,282) 2019 Exchange rate 10 % 4,053 Exchange rate (10) % (3,545) 2018 Exchange rate 10 % 1,695 Exchange rate (10) % (1,681)
Schedule of interest rates risk	A table showing the effect in profit or loss of the variations of interest rates: Effect on profit Increase/decrease of (loss) before LIBOR income tax (percentage rates) US$(000) 2020 Interest rate 10 % (81) Interest rate (10) % 81 2019 Interest rate 10 % (306) Interest rate (10) % 306 2018 Interest rate 10 % (277) Interest rate (10) % 277
Schedule of financial liabilities by remaining maturity	An analysis of the Group’s financial liabilities classified according to their aging is presented below, based on undiscounted contractual payments: Less than Between 1 Between 2 More than 5 1 year and 2 years and 5 years years Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020- Bank loans – capital 65,793 — — — 65,793 Bank loans – interest 1,156 — — — 1,156 Trade and other payables 167,852 — — — 167,852 Financial obligation – capital 21,587 175,932 324,815 6,071 528,405 Financial obligation – interest 14,868 13,289 14,911 203 43,271 Lease – capital 3,609 2,010 2,220 — 7,839 Lease – interest 74 143 145 — 362 Hedge derivative financial instruments 15,804 2,635 — — 18,439 Contingent consideration liability — — 9,924 36,746 46,670 Total As of December 31, 2019 - Bank loans – capital 55,000 — — — 55,000 Bank loans – interest 486 — — — 486 Trade and other payables 152,070 616 — — 152,686 Financial obligation – capital 262,088 131,588 125,154 48,568 567,398 Financial obligation – interest 22,597 11,225 11,880 1,449 47,151 Lease – capital 3,692 1,514 2,297 — 7,503 Lease – interest 73 143 404 — 620 Contingent consideration liability — — 4,905 35,166 40,071 Total 496,006 145,086 144,640 85,183 870,915
Schedule of information about the credit risk exposure	Set out below is the information about the credit risk exposure on the Group's trade and other receivables: Days past due Current < 30 days 30 – 90 days > 90 days Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 - Trade receivables 159,840 — — 22,128 181,968 Other receivables 172,116 — 1,221 9,717 183,054 331,956 — 1,221 31,845 365,022 Expected credit loss rate 0 % 0 % 0 % 100 % — Expected credit loss — — — (31,845) (31,845) As of December 31, 2019 - Trade receivables 204,096 — — 22,016 226,112 Other receivables 125,409 42,390 4,332 10,006 182,137 329,505 42,390 4,332 32,022 408,249 Expected credit loss rate 0 % 0 % 0 % 100 % — Expected credit loss — — — (32,022) (32,022)
Schedule of financial position of the Company	The financial position of the Company is as follows: 2020 2019 US$(000) US$(000) Debt and accounts payables 226,333 188,896 Leasing 330 596 Less cash and short-term deposits (870,929) (818,503) Net debt (644,266) (629,011) Total liquidity 870,929 818,503
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of financial risk management objectives and policies [Line Items]
Schedule of foreign-currency exchange rates risk	Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial assets: Trade and other receivables, net 27,658 15,016 27,658 15,016 Restricted cash 48,752 48,617 49,042 50,353 Financial assets at fair value 21,676 23,648 21,676 23,648 98,086 87,281 98,376 89,017 Carrying amount Fair value 2020 2019 2020 2019 US$(000) US$(000) US$(000) US$(000) Financial liabilities: Debt instrument 45,423 43,927 47,479 45,633 45,423 43,927 47,479 45,633
Schedule of current financial liabilities	The following table represents the analysis of the Company’s financial liabilities, considering the remaining period to reach such maturity as of the consolidated statement of financial position date (see notes 11 and 12): 2020 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 44,977 — — 44,977 Debt instruments — — 45,423 45,423 Trade accounts payable - Related parties 12,374 — — 12,374 Leases liabilities 290 40 — 330 57,641 40 45,423 103,104 2019 Between 1 to 2 Between 2 to 5 Less than 1 year years years Total US$(000) US$(000) US$(000) US$(000) Trade accounts payable – domestic suppliers 45,671 — — 45,671 Debt instruments — — 43,927 43,927 Trade accounts payable - Related parties 11,426 — — 11,426 Leases liabilities 291 305 — 596 57,388 305 43,927 101,620
Schedule of information about the credit risk exposure	Set out below is the information about the credit risk exposure on the Company’s trade and other receivables: Days past due Current < 30 days 30 – 90 days > 90 days Total US$(000) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020 Trade receivables — 21,274 2,797 4,971 29,042 Expected credit loss rate — % — % — % 27.84 % 4.77 % Expected credit loss — — — (1,384) (1,384) Total — 21,274 2,797 3,587 27,658 As of December 31, 2019 Trade receivables — 5,047 7,976 3,377 16,400 Expected credit loss rate — % — % — % 40.98 % 8.44 % Expected credit loss — — — (1,384) (1,384) Total — 5,047 7,976 1,993 15,016
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of financial risk management objectives and policies [Line Items]
Schedule of foreign-currency exchange rates risk	Effect on profit before income tax US$(000) December 31, 2020 10% increase in future copper prices 112,080 10% decrease in future copper prices (112,080) Effect on profit before income tax US$(000) December 31, 2019 10% increase in future copper prices 99,219 10% decrease in future copper prices (99,219) Effect on profit before income tax US$(000) December 31, 2018 10% increase in future copper prices 72,847 10% decrease in future copper prices (72,847)

Selling Expenses (Tables)

Selling Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Selling Expenses [Line Items]
Schedule of selling expenses	2020 2019 2018 US$(000) US$(000) US$(000) Selling expenses 1,412 1,719 1,551 Other 510 3 1,076 1,922 1,722 2,627
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Selling Expenses [Line Items]
Schedule of selling expenses	This item is made up of as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Copper concentrate freight 89,241 98,933 126,670 Commissions 4,935 5,588 6,048 Cathode freight 2,019 1,890 1,831 Other 1,485 3,072 2,459 97,680 109,483 137,008

Other operating expenses (Table

Other operating expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Other operational expenses [Line Items]
Schedule of other operating expenses	This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Excess of salaries limit in workers profit sharing (a) 17,146 — — Royalty non-income tax (b) 10,780 — — Optimization and prefeasibility/feasibility studies (c) 8,429 450 Other expenses 1,425 2,434 Tax contingencies 704 6,119 10,711 Fines and penalties (d) — 14,183 — Royalties, ITAN and penalties (e) — — 55,088 38,484 38,116 68,683 (a) Corresponds to the excess of salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO), and it’s related to adjustments of previous years income tax assessments (recognized in 2020 primarily as a result of the international arbitration proceeding initiated by the Company (See Note 13(d)). (b) Represents current year mining royalties calculated based on revenues according to applicable tax rules (see Note 13(d)). (c) Represents charges related to projects for the optimization of the Company’s operating processes. (d) For the year ended December 31, 2019, primarily represents land right penalties with INGEMMET (US$6.8 million), SUNAT penalties related to 2012 income tax audit (US$4.7 million) and OSINERGMIN fine (US$2.7 million), which in September 2020, was declared closed and archived in favor of the Company. (e)

Financial expenses (Tables)

Financial expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Financial Expenses [Line Items]
Schedule of finance expenses	This item is made up as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 US$(000) US$(000) US$(000) Interest on disputed mining royalties (a) 43,838 68,107 370,159 Tax contingencies (b) 54,098 2,488 4,273 Interest on senior unsecured credit facility (see Note 10(b)) 22,351 39,083 49,551 Excess of salaries limit in workers profit sharing (c) 16,591 — — Interest for leases (see Note 10(a)) 4,875 5,242 — Amortization debt issuance cost (See Note 10(b)) 1,673 1,768 2,419 Extinguishment of debt - debt issuance cost (see Note 10(b)) 902 1,298 1,902 Capitalized Interest associated to capital projects (see Note 7(a)) Other financial expenses 891 2,395 2,219 142,675 115,877 426,733

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2020
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Earnings per share [Line Items]
Schedule of basic and diluted earnings per common share	Basic and diluted earnings per share are calculated by dividing earnings by the weighted-average number of outstanding shares during the period. Basic and diluted earnings per common share have been determined as follows: For the year ended For the year ended For the year ended December 31, 2020 December 31, 2019 December 31, 2018 Profit for the period (US$) 274,544,000 390,377,000 119,710,000 Weighted average number of share outstanding (Note 12(a)) 350,056,012 350,056,012 350,056,012 Basic and diluted earnings per share (US$) 0.784 1.115 0.342

Fair value measurement (Tables)

Fair value measurement (Tables)	12 Months Ended
	Dec. 31, 2020
Fair value measurement
Schedule of fair value measurement of liabilities	The following table provides the fair value measurement hierarchy of the Group’s assets and liabilities: Fair value measurement using: Quoted prices in active Observable Unobservable markets inputs inputs Total (Level 1) (Level 2) (Level 3) US$(000) US$(000) US$(000) US$(000) As of December 31, 2020- Assets and liabilities measured at fair value: Fair value of account receivable (subject to provisional pricing) 126,553 — 126,553 — Bank loans 65,793 — 65,793 — Financial obligations 531,745 — 531,745 — Contingent consideration liability 22,100 — — 22,100 Hedge instruments 18,439 — 18,439 — As of December 31, 2019 - Assets and liabilities measured at fair value: Fair value of account receivable (subject to provisional pricing) 165,546 — 165,546 — Bank loans 55,000 — 55,000 — Financial obligations 571,688 — 571,688 — Contingent consideration liability 16,410 — — 16,410 Hedge instruments — — — —
Schedule of quantitative information about the significant unobservable inputs used in level 3 fair value measurements	The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements: Fair value as of December 31, Unobservable Relationship of unobservable Description 2020 inputs Range of inputs inputs to fair value Contingent consideration liability 22,100 Rate before tax 9.30 % A change in the discount rate by 10% (rate of 0.93%) higher/lower, the fair value would increase/decrease in US$1.5 million. Expected revenues annual average (US$000) If expected sales change by 10% higher/lower, the fair value would increase/decrease in US$2.2 million.

Reconciliation between net in_2

Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP (Tables)	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Disclosure of detailed information about adjustments for reconciliation of financial position and financial performance between IFRS and US GAAP	The following is a summary of the adjustment to net income for the years ended December 31, 2020, 2019 and 2018, and to partners' equity as of December 31, 2020, 2019 and 2018 that would be required if U.S. GAAP had been applied instead of IFRS in the consolidated financial statements: 2020 2019 2018 US$(000) US$(000) US$(000) Loss for the year under IFRS (165,449) (95,257) (81,517) Items increasing (decreasing) reported net profit: Reversal of depreciation of assets impaired under IFRS, note 24(a) (97,352) (205,653) (320,424) Reversal of depreciation of assets impaired under U.S. GAAP, note 24(a) 104,108 204,276 254,006 Stripping activity asset, note 24(b) (32,169) 7,533 18,227 Reclamation and mine closure, note 24(c) (61,555) 54,873 (20,537) Asset retirement costs, note 24(c) 16,702 14,504 89,280 Inventories, note 24(d) (929) (7,740) (10,217) Contingencies, note 24(e) — — 1,228 Debt instrument interest, note 24(f) 1,497 1,497 735 Interest regarding tax claim, note 24(g) (16,496) 16,839 — Income tax payable, including fines, note 24(g) (11,920) 12,168 — Others 20 276 151 (98,094) 98,573 12,449 Income (loss) for the year under U.S. GAAP (263,543) 3,316 (69,068) 2020 2019 2018 US$(000) US$(000) US$(000) Partners' equity under IFRS 324,387 489,712 583,723 Items increasing (decreasing) reported partners' equity: Impairment loss for IFRS, note 24(a) 2,469,188 2,469,188 2,469,188 Reversal of depreciation of assets impaired under IFRS, note 24(a) (1,297,689) (1,200,337) (994,684) Elimination of impairment loss recorded under U.S. GAAP, note 24(a) (933,200) (933,200) (933,200) Reversal of depreciation of assets impaired under U.S. GAAP note 24(a) 800,296 696,188 491,912 Stripping activity asset, note 24(b) (40,409) (8,240) (15,773) Asset retirement cost, note 24(c) (29,149) (59,160) (1,026) Reclamation and mine closure, note 24(c) 64,971 139,834 12,323 Inventories, note 24(d) (5,766) (4,837) 2,903 Debt instruments, note 24(f) 45,424 43,927 42,430 Contingencies, note 24(e) 1,228 1,228 1,228 Income tax payable contingency, including fines note 24(g) — 12,168 — Interest regarding tax claim, note 24(g) — 16,839 — Others 3,681 3,072 2,776 1,078,575 1,176,679 1,078,077 Partners' equity under U.S. GAAP 1,402,962 1,666,382 1,661,800
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Disclosure of detailed information about adjustments for reconciliation of financial position and financial performance between IFRS and US GAAP	The following is a summary of the main adjustments to net income for the years ended December 31, 2020, 2019 and 2018 and to shareholders' equity as of December 31, 2020, 2019 and 2018 that would be required if U.S. GAAP had been applied instead of IFRS in the financial statements: 2020 2019 2018 US$(000) US$(000) US$(000) Net profit under IFRS 274,544 390,377 119,710 Items increasing (decreasing) reported net profit: Stripping activity asset, net of amortization, note 23 (a) 31,419 (41,508) (64,452) Inventories valuation, note 23 (b) (906) (53,424) (29,515) Remediation and mine closure, note 23 (e) 23 23 1,351 Deferred workers´ profit sharing, note 23 (c) (24,255) (23,449) (7,079) Lease activity 1,597 2,071 — Deferred income tax, note 23 (d) (6,514) 45,759 33,291 Other (222) (134) (26) Net income under U.S. GAAP 275,686 319,715 53,280 2020 2019 2018 US$(000) US$(000) US$(000) Shareholders’ equity under IFRS 5,635,328 5,359,323 5,117,732 Items increasing (decreasing) reported shareholder’s equity: Stripping activity asset, net of amortization, note 23 (a) (267,596) (299,015) (257,507) Inventories valuation, note 23 (b) (217,707) (216,801) (163,377) Remediation and mine closure, note 23(e) (5,480) (5,503) (5,526) Deferred workers´ profit sharing note 23(c) and 24 (a) (87,415) (63,160) (39,711) Lease activity 3,668 2,071 — Deferred income tax, note 23d 189,073 195,587 149,828 Other (144) 78 212 Shareholders’ equity under U.S. GAAP 5,249,727 4,972,580 4,801,651

Other accruals and liabilities

Other accruals and liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Other Accruals And Liabilities [Line Items]
Schedule of components of other accruals and liabilities	2020 2019 US$(000) US$(000) Accrual of capital expenditure 20,147 8,139 Workers’ profit sharing payable (b) 17,311 12,793 Interests payable, see note 23 16,840 16,840 Accrual of operating costs (c) 15,938 11,238 Lease liabilities 330 596 70,566 49,606 Classification by maturity: Current portion 70,526 49,301 Non-current portion 40 305 70,566 49,606 (a) Accrual of operating cost - The accrual of operating cost relates to the accruals of services received by the Company as part of its operations that were pending to be invoiced such as power, maintenance, contractors and others. (b) Workers’ profit sharing - In accordance with Peruvian legislation, the Company maintains an employee profit sharing plan equal to 8% of annual taxable income. Distributions to employees under the plan are based 50% on the number of days that each employee worked during the preceding year and 50% on proportionate annual salary levels.

Identification and business a_3

Identification and business activity - Subsidiaries (Details)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Compaa de Minas Buenaventura S.A.A. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary	[1]	Peru
Compaa Minera Condesa S.A | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Compania Minera Colquirrumi S.A. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Sociedad Minera El Brocal S.A.A | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary	[2]	Peru
Inversiones Colquijirca S.A. | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary	[2]	Peru
S.M.R.L. Chaupiloma Dos de Cajamarca [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Minera La Zanja S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Minera Julcani S.A. de C.V. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Mexico
Compaa de Minas Buenaventura Chile Ltda. | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary	[3]	Chile
El Molle Verde S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Apu Coropuna S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Cerro Hablador S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Minera Azola S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Compania Minera Nueva Italia S.A. [Member] | Mining activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Consorcio Energtico de Huancavelica S.A. | Energy generation and transmission services [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Empresa de Generacin Huanza S.A | Energy generation and transmission services [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Contacto Corredores de Seguros S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Contacto Risk Consulting S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Rio Seco | Industrial activities [Member]
Identification and business activity
Country of incorporation of subsidiary		Peru
Direct [Member] | Compaa de Minas Buenaventura S.A.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[1]	100.00%	100.00%
Direct [Member] | Compaa Minera Condesa S.A | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		100.00%	100.00%
Direct [Member] | Compania Minera Colquirrumi S.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		100.00%	100.00%
Direct [Member] | Sociedad Minera El Brocal S.A.A | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[2]	3.19%	3.19%
Direct [Member] | Inversiones Colquijirca S.A. | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[2]	89.76%	89.76%
Direct [Member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		20.00%	20.00%
Direct [Member] | Minera La Zanja S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		53.06%	53.06%
Direct [Member] | Minera Julcani S.A. de C.V. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		99.80%	99.80%
Direct [Member] | Compaa de Minas Buenaventura Chile Ltda. | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[3]	90.00%	90.00%
Direct [Member] | El Molle Verde S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		99.98%	99.98%
Direct [Member] | Apu Coropuna S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		70.00%	70.00%
Direct [Member] | Cerro Hablador S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		99.00%	99.00%
Direct [Member] | Minera Azola S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		99.00%	99.00%
Direct [Member] | Compania Minera Nueva Italia S.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Direct [Member] | Consorcio Energtico de Huancavelica S.A. | Energy generation and transmission services [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		100.00%	100.00%
Direct [Member] | Empresa de Generacin Huanza S.A | Energy generation and transmission services [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Direct [Member] | Contacto Corredores de Seguros S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		99.98%	99.98%
Direct [Member] | Contacto Risk Consulting S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Direct [Member] | Rio Seco | Industrial activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		100.00%	100.00%
Indirect [Member] | Compaa de Minas Buenaventura S.A.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[1]	0.00%	0.00%
Indirect [Member] | Compaa Minera Condesa S.A | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Indirect [Member] | Compania Minera Colquirrumi S.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Indirect [Member] | Sociedad Minera El Brocal S.A.A | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[2]	58.24%	58.24%
Indirect [Member] | Inversiones Colquijirca S.A. | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[2]	10.24%	10.24%
Indirect [Member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		40.00%	40.00%
Indirect [Member] | Minera La Zanja S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Indirect [Member] | Minera Julcani S.A. de C.V. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.20%	0.20%
Indirect [Member] | Compaa de Minas Buenaventura Chile Ltda. | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[3]	10.00%	10.00%
Indirect [Member] | El Molle Verde S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.02%	0.02%
Indirect [Member] | Apu Coropuna S.R.L. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Indirect [Member] | Cerro Hablador S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		1.00%	1.00%
Indirect [Member] | Minera Azola S.A.C. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		1.00%	1.00%
Indirect [Member] | Compania Minera Nueva Italia S.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	93.36%
Indirect [Member] | Consorcio Energtico de Huancavelica S.A. | Energy generation and transmission services [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
Indirect [Member] | Empresa de Generacin Huanza S.A | Energy generation and transmission services [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		100.00%	100.00%
Indirect [Member] | Contacto Corredores de Seguros S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.02%	0.02%
Indirect [Member] | Contacto Risk Consulting S.A. [Member] | Construction, engineering services and insurance brokerage [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		98.00%	98.00%
Indirect [Member] | Rio Seco | Industrial activities [Member]
Identification and business activity
Proportion of ownership interest in subsidiary		0.00%	0.00%
[1]	(*)         Includes four operating mining units in Peru (Uchucchacua, Orcopampa, Julcani and Tambomayo), two discontinued mining units (Poracota and Shila-Paula), and one mining unit under development stage (San Gabriel)
[2]	(**)       As of December 31, 2020 and 2019, the participation of the Company in the voting rights of El Brocal is 61.43 percent. Inversiones Colquijirca S.A. (hereafter “Colquijirca”), a Group’s subsidiary (99.99 percent as of December 31, 2020 and 2019), has an interest in El Brocal’s capital stock, through which the Company holds an indirect participation in El Brocal of 58.24 percent as of December 31, 2020 and 2019.
[3]	(***)     On January 21, 2021, the Company sold 100% of its shares of Compañía de Minas Buenaventura Chile Ltda., which were presented as financial investments as of December 31, 2020. The sale value was US$30,000 which are fully collected as of the date of this report.

Identification and business a_4

Identification and business activity - Net cash flows of discontinued operations (Details) - Mining activities [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Identification and business activity
Operating activities	$ 0	$ (2)	$ 1,800
Investing activities	0	0	(1,817)
Decrease in cash and cash equivalents for the year	$ 0	$ (2)	$ (17)

Identification and business a_5

Identification and business activity - Results of the discontinued operations (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating income
Sales of goods	$ 637,619	$ 821,930	$ 1,106,329
Cost of sales	(652,613)	(799,582)	(967,696)
Gross profit (loss)	(23,929)	(68,306)	(183,019)
Operating income (expenses), net
Reversal (provision) of contingent and others			(11,248)
Administrative expenses	(67,185)	(76,297)	(77,099)
Reversal of Impairment loss of long-lived assets, note 11(b)	2,083	(2,083)	5,693
Total operating expenses, net	(105,203)	(126,319)	(124,721)
Operating profit (loss)	81,274	58,013	(58,298)
Other income (expense), net
Finance costs, note 15(b)	(37,822)	(42,173)	(38,422)
Net gain (loss) from currency exchange difference	4,116	734	1,384
Profit (loss) from discontinued operations	(5,409)	10,514	11,808
Discontinued Operations Mining Activities [Member]
Operating income
Sales of goods	(1)	97	16,666
Cost of sales	0	(2)	(15,261)
Gross profit (loss)	(1)	95	1,405
Operating income (expenses), net
Income from sale of development costs, property, plant and equipment (sale of Mallay mining unit)	7,976
Reversal of provision for closure of mining unit (sale of Mallay mining unit), nota 15(b)	5,093
Reversal of provision for impairment of value of inventory (sale of Mallay mining unit), note 8(c)	1,220
Income from sale of supplies (sale of Mallay mining unit)	606
Reversal (provision) of contingent and others	13	(134)	(9)
Cost of sale of development costs, property, plant and equipment, nota 11(a)	(3,099)	(44)	(5,100)
Administrative expenses	(3,243)	(8,048)	(1,661)
Cost of sale of supplies (sale of Mallay mining unit)	(1,711)
Provision for impairment of value of inventory, note 8(c)	(377)	(320)
Changes in provision for closure of mining units	(58)	(1,912)	(6,013)
Reversal of Impairment loss of long-lived assets, note 11(b)	0		2,837
Others, net	(846)	117	(3,162)
Total operating expenses, net	5,574	(10,341)	(13,108)
Operating profit (loss)	5,573	(10,246)	(11,703)
Other income (expense), net
Finance costs, note 15(b)	(176)	(266)	(88)
Net gain (loss) from currency exchange difference	12	(2)	30
Profit (loss) before income tax	5,409	(10,514)	(11,761)
Income tax	0		(47)
Profit (loss) from discontinued operations	$ 5,409	$ (10,514)	$ (11,808)
Profit (loss) from the discontinued operations, per basic and diluted share, express in U. S. dollars	$ 0.03	$ (0.04)	$ (0.03)

Identification and business a_6

Identification and business activity - Summary of unabsorbed cost due to production stoppage (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unabsorbed cost due to production stoppage
Unabsorbed cost due to production stoppage	$ 27,758	$ 0	$ 0
Depreciation and amortization incurred during the production stoppage	10,800
Services provided by third parties
Unabsorbed cost due to production stoppage
Unabsorbed cost due to production stoppage	13,885	0
Direct labor
Unabsorbed cost due to production stoppage
Unabsorbed cost due to production stoppage	11,057	0
Supplies
Unabsorbed cost due to production stoppage
Unabsorbed cost due to production stoppage	$ 2,816	$ 0

Identification and business a_7

Identification and business activity - Additional information (Details) oz in Thousands, lb in Millions		Jan. 21, 2021USD ($)	Dec. 31, 2020USD ($)Tlboz	Dec. 31, 2019USD ($)oz	Dec. 31, 2018USD ($)oz
Identification and business activity
Assets			$ 3,979,617,000	$ 4,107,274,000	$ 4,217,221,000
Decrease in sales			191,300,000
Unabsorbed cost due to production stoppage			$ 27,758,000	$ 0	$ 0
Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Volume of gold produced | oz			340,000	527,000	515,000
Description Of Location of Entity Operation			In order to perform its activities, the Company is required to obtain mining concessions or provisional permits for exploration and processing concessions for the treatment of mining ores from the Peruvian Ministry of Energy and Mines (MEM). Under Peru's current legal and regulatory regime, these mining and processing rights are maintained by meeting a minimum annual level of production or investment and by the annual payment of a concession fee. A fine is payable for the years in which minimum production or investment requirements are not met. The Company holds mining concessions which exploration and processing rights do not expires as long as the Company comply with the legal requirements. To date the Company has complied with all the applicable legal requirements related to its concession rights.The Company's operations are located approximately 375 miles (604 kilometers) north of Lima and 30 miles (48 kilometers) north of the city of Cajamarca and are primarily accessible by paved roads. The Yanacocha property began production in 1993 and consists of the following open pit mines: (i) the La Quinua Complex, (ii) the Yanacocha Complex, (iii) the Carachugo Complex and Maqui Maqui. In addition, The Company has (i) four leach pads (La Quinua, Yanacocha, Carachugo and Maqui Maqui), (ii) three gold processing plants (Pampa Larga, Yanacocha Norte and La Quinua), one limestone processing facility (China Linda) and (iv) one mill (Yanacocha Gold Mill).
Assets			$ 2,313,438,000	$ 2,312,072,000
Minera Yanacocha SRL and subsidiary [Member] | Conga Project [Member]
Identification and business activity
Assets			$ 449,800,000	$ 458,200,000
Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Processing Capacity | T			548,500
Concentrator Facility Capacity | T			409,500
Pre Expansion Capacity Approved | T			361,500
Capacity of Crushed Leach Facility | T			39,000
Run Of Mine Capacity | T			100,000
Sociedad Minera Cerro Verde Saa [Member] | Quecher Main project [Member]
Identification and business activity
Average production capacity | lb			200
Newmont Second Capital Corporation [Member] | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Proportion of ownership interest in subsidiary			51.35%
S.M.R.L. Chaupiloma Dos de Cajamarca [Member] | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Royalty rate on net sales			3.00%
Newmont Mining Corporation [Member] | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Proportion of ownership interest in subsidiary			100.00%
Cyprus Climax Metals [Member] | Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Proportion of ownership interest in subsidiary			53.56%
SMM Cerro Verde Netherlands B.V [Member] | Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Proportion of ownership interests held by non-controlling interests			21.00%
Compania de Minas Buenaventura S.A.A. [Member] | Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Proportion of ownership interests held by non-controlling interests			19.58%
other stakeholders [Member] | Sociedad Minera Cerro Verde Saa [Member]
Identification and business activity
Proportion of ownership interests held by non-controlling interests			5.86%
Mallay | Discontinued operations
Identification and business activity
Sale price, gross			$ 10,000,000
Sale price plus VAT			8,500,000
Related cost on sale of investments			3,600,000
Income from the reversal of provision for mining unit closure			5,100,000
Proceeds collected			2,000,000
Mallay | Discontinued operations | Less than 1 year
Identification and business activity
Remaining balance of proceeds receivable			4,000,000
Mallay | Discontinued operations | Between 1 to 2 years
Identification and business activity
Remaining balance of proceeds receivable			$ 4,000,000
El Brocal | Mining activities [Member]
Identification and business activity
Proportion of voting rights held in subsidiary			61.43%	61.43%
El Brocal | Mining activities [Member] | Indirect [Member]
Identification and business activity
Proportion of voting rights held in subsidiary			58.24%	58.24%
Colquijirca S.A. [Member] | Mining activities [Member]
Identification and business activity
Proportion of voting rights held in subsidiary			99.99%	99.99%
Compaa Minera Condesa S.A | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Proportion of ownership interests held by non-controlling interests			43.65%
Compaa Minera Condesa S.A | Mining activities [Member] | Indirect [Member]
Identification and business activity
Proportion of ownership interest in subsidiary			0.00%	0.00%
Minas Buenaventura S.A.A [Member] | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Proportion of ownership interest in subsidiary			100.00%
Summit Global Management [Member] | Minera Yanacocha SRL and subsidiary [Member]
Identification and business activity
Proportion of ownership interests held by non-controlling interests			5.00%
Compaa de Minas Buenaventura Chile Ltda.
Identification and business activity
Percentage of share capital sold		100.00%
Sale price		$ 30,000
Compaa de Minas Buenaventura Chile Ltda. | Mining activities [Member] | Indirect [Member]
Identification and business activity
Proportion of ownership interest in subsidiary	[1]		10.00%	10.00%
[1]	(***)     On January 21, 2021, the Company sold 100% of its shares of Compañía de Minas Buenaventura Chile Ltda., which were presented as financial investments as of December 31, 2020. The sale value was US$30,000 which are fully collected as of the date of this report.

Basis for preparation, consol_4

Basis for preparation, consolidation and accounting policies - Useful lives or used for administrative purposes (Details)	12 Months Ended
	Dec. 31, 2020
Transportation units [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	5 years
Fixtures and fittings [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	10 years
Computer Equipment [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Minimum | Buildings and other constructions
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	6 years
Minimum | Buildings and other constructions | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	5 years
Minimum | Buildings and other constructions | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	5 years
Minimum | Machinery and equipment
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	5 years
Minimum | Machinery and equipment | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Minimum | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	2 years
Minimum | Transportation units [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Minimum | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	5 years
Minimum | Fixtures and fittings [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Minimum | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	7 years
Minimum | Computer Equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Minimum | Land improvements [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	2 years
Minimum | Other property, plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Minimum | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	3 years
Maximum | Buildings and other constructions
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	20 years
Maximum | Buildings and other constructions | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	10 years
Maximum | Buildings and other constructions | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	35 years
Maximum | Machinery and equipment
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	10 years
Maximum | Machinery and equipment | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	10 years
Maximum | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	30 years
Maximum | Transportation units [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Maximum | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	7 years
Maximum | Fixtures and fittings [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Maximum | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	10 years
Maximum | Computer Equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Maximum | Land improvements [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Maximum | Other property, plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	4 years
Maximum | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Useful life of property plant equipment	25 years

Basis for preparation, consol_5

Basis for preparation, consolidation and accounting policies - Additional information (Details)	Jan. 01, 2017	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2016USD ($)
Basis for preparation, consolidation and accounting policies
Useful lives or depreciation of Investment property		20 years
Impairment loss					$ 0
Workers' profit sharing rate		8.00%
Qualifying asset, description		The Group defines a qualifying asset as one which value is greater than US$5 million and requires a longer period to 12 months to get ready for its intended use.
Applicable tax rate	29.50%	32.00%	32.00%	32.00%
Lease Liabilities		$ 7,839,000	$ 7,503,000
Right-of-use assets		$ 7,178,000	$ 6,185,000
Lease term		10 years
Maximum [Member]
Basis for preparation, consolidation and accounting policies
Normal credit term		90 days
Mining Royalties Marginal Rate		12.00%
Useful life of intangible assets		10 years
Minimum [Member]
Basis for preparation, consolidation and accounting policies
Normal credit term		30 days
Mining Royalties Marginal Rate		1.00%
Useful life of intangible assets		1 year
Written put options [member]
Basis for preparation, consolidation and accounting policies
Closing foreign exchange rate		0.2759	0.2959
Purchased call options [member]
Basis for preparation, consolidation and accounting policies
Closing foreign exchange rate		0.2764	0.2968
Minera Yanacocha SRL and subsidiary [Member]
Basis for preparation, consolidation and accounting policies
Applicable tax rate	29.50%	29.50%	29.50%	29.50%
Lease Liabilities		$ 330,000	$ 596,000
Interest from short-term money market funds and interest from current bank accounts		$ 8,100,000	18,430,000	$ 11,448,000
Terminal compensation percentage		1.50%
Maximum severance payments | item		12
Amortization expense of intangible assets		$ 3,000,000	$ 3,000,000	$ 4,100,000
Minera Yanacocha SRL and subsidiary [Member] | Maximum [Member]
Basis for preparation, consolidation and accounting policies
Mining Royalties Marginal Rate		12.00%
Minera Yanacocha SRL and subsidiary [Member] | Minimum [Member]
Basis for preparation, consolidation and accounting policies
Mining Royalties Marginal Rate		1.00%
Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Workers' profit sharing rate		8.00%
Applicable tax rate		32.00%	32.00%	32.00%
Right-of-use assets		$ 76,862,000	$ 84,856,000	$ 95,728,000
Amortization expense of intangible assets		$ 1,000,000	$ 1,000,000
Sociedad Minera Cerro Verde S.A.A. [Member] | Concessions related to the operation of the port terminal
Basis for preparation, consolidation and accounting policies
Useful life of intangible assets		20 years
Sociedad Minera Cerro Verde S.A.A. [Member] | Written put options [member]
Basis for preparation, consolidation and accounting policies
Closing foreign exchange rate		3.624	3.317
Sociedad Minera Cerro Verde S.A.A. [Member] | Purchased call options [member]
Basis for preparation, consolidation and accounting policies
Closing foreign exchange rate		3.618	3.311
Plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member] | Maximum [Member]
Basis for preparation, consolidation and accounting policies
Lease term		10 years
Plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member] | Minimum [Member]
Basis for preparation, consolidation and accounting policies
Lease term		3 years
Buildings and other constructions
Basis for preparation, consolidation and accounting policies
Lease Liabilities		$ 3,971,000	$ 5,296,000
Right-of-use assets		$ 3,370,000	$ 4,602,000
Buildings and other constructions | Minera Yanacocha SRL and subsidiary [Member] | Maximum [Member]
Basis for preparation, consolidation and accounting policies
Lease term		10 years
Buildings and other constructions | Minera Yanacocha SRL and subsidiary [Member] | Minimum [Member]
Basis for preparation, consolidation and accounting policies
Lease term		5 years
OSINERGMIN [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Contribution rate on sales invoice value		0.14%	0.13%	0.14%
OEFA [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Basis for preparation, consolidation and accounting policies
Contribution rate on sales invoice value		0.10%	0.11%

Basis for preparation, consol_6

Basis for preparation, consolidation and accounting policies - Assets and liabilities originally denominated in Soles (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Assets
Cash and cash equivalents	$ 235,449	$ 210,046	$ 369,200	$ 214,551
Trade and other receivables	333,177	376,227
Income tax credit	19,837	31,919
Total assets	3,979,617	4,107,274	4,217,221
Liabilities
Trade and other payables	179,956	166,860
Income tax payable	3,162	5,650
Total liabilities	1,179,760	1,139,074	1,187,656
PEN
Assets
Cash and cash equivalents	8,606	6,796
Income tax credit	19,837	31,919
Total assets	187,542	178,339
Liabilities
Trade and other payables	47,705	60,311
Income tax payable	3,162	5,650
Total liabilities	89,441	107,476
Net asset position	98,101	70,863
Minera Yanacocha SRL and subsidiary [Member]
Assets
Cash and cash equivalents	870,929	818,503
Trade and other receivables	49,720	42,610
Total assets	2,313,438	2,312,072
Liabilities
Income tax payable	42,029	23,153
Provisions, other accruals and liabilities	1,762,389	1,632,868
Total liabilities	1,989,052	1,822,360
Net loss from currency exchange			$ 2,056
Net gain from currency exchange	$ 1,180	$ 2,902
Minera Yanacocha SRL and subsidiary [Member] | Buy
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Closing foreign exchange rate | $ / shares	0.2764	0.3020
Minera Yanacocha SRL and subsidiary [Member] | Sell
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Closing foreign exchange rate | $ / shares	0.3020	0.3015
Minera Yanacocha SRL and subsidiary [Member] | PEN
Assets
Cash and cash equivalents	$ 6,242	$ 5,140
Trade and other receivables	7,584	27,990
Value added tax credit	25,214	32,831
Total assets	39,040	65,961
Liabilities
Trade and other payables	48,200	13,085
Income tax payable	37,779	23,153
Provisions, other accruals and liabilities	25,774	29,633
Total liabilities	111,753	65,871
Net asset position	$ (72,713)	$ 90

Basis for preparation, consol_7

Basis for preparation, consolidation and accounting policies - Reconciliation between the balance of assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Total lease liabilities	$ 7,839	$ 7,503
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Total lease liabilities	$ 330	$ 596

Basis for preparation, consol_8

Basis for preparation, consolidation and accounting policies - Impact of Adoption of IFRIC 23 on consolidated statement of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liabilities
Current tax liabilities, current	$ 3,162	$ 5,650
Total liabilities	1,179,760	1,139,074	$ 1,187,656
Shareholders' equity, net
Retained earnings	1,503,785	1,639,658
Total shareholders' equity, net	$ 2,799,857	$ 2,968,200	$ 3,029,565	$ 3,063,627

Basis for preparation, consol_9

Basis for preparation, consolidation and accounting policies - Impact of Adoption of IFRS 16 on Impact on consolidated statement of cash flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Interest paid	$ (21,653)	$ (28,266)	$ (27,699)
Net cash and cash equivalents provided by operating activities	122,885	47,065	346,260
Net cash and cash equivalents used in financing activities	$ (35,258)	(100,618)	(74,052)
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Net cash and cash equivalents provided by operating activities		$ (34,419)	$ (78,519)

Basis for preparation, conso_10

Basis for preparation, consolidation and accounting policies - Impact of Adoption of IFRS 16 on Impact on consolidated statement of profit or loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating costs
Cost of sales of goods, excluding depreciation and amortization	$ 393,888	$ 512,874	$ 613,381
Depreciation and amortization	(189,620)	(226,335)	(238,879)
Operating profit
Administrative expenses.	67,185	76,297	77,099
Operating expenses, net.	(2,690)	14,715	1,308
Operating profit (loss)	(81,274)	(58,013)	58,298
Other income (expense), net
Finance costs	37,822	42,173	38,422
Profit (loss) before income tax	(130,318)	(43,535)	27,033
Minera Yanacocha SRL and subsidiary [Member]
Operating costs
Cost of sales of goods, excluding depreciation and amortization	666,456	692,721	619,424
Operating profit
Administrative expenses.	1,227	1,744	2,783
Operating expenses, net.	34,322	35,987	76,155
Operating profit (loss)	(85,012)	5,968	(22,588)
Other income (expense), net
Finance costs	36,699	57,629	39,024
Profit (loss) before income tax	$ (112,431)	$ (30,329)	$ (52,220)

Basis for preparation, conso_11

Basis for preparation, consolidation and accounting policies - Impact of Adoption of IFRS 16 on consolidated statement of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 14, 2018	Dec. 31, 2017
Assets
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	$ 1,650,361	$ 1,754,372	$ 1,847,615
Right-of-use assets	7,178	6,185
Deferred income tax asset	73,850	74,556
Total assets	3,979,617	4,107,274	4,217,221
Liabilities
Financial obligations	25,086	265,692
Total liabilities	1,179,760	1,139,074	1,187,656
Retained earnings	1,503,785	1,639,658
Total shareholders' equity, net	2,799,857	2,968,200	3,029,565		$ 3,063,627
Minera Yanacocha SRL and subsidiary [Member]
Assets
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	1,039,579	1,038,294	840,454
Deferred income tax asset	1,071	1,071
Total assets	2,313,438	2,312,072
Liabilities
Total liabilities	1,989,052	1,822,360
Retained earnings	(32,134)	133,315
Total shareholders' equity, net	$ 324,386	$ 489,712	$ 583,723	$ 6,216	$ 659,115

Basis for preparation, conso_12

Basis for preparation, consolidation and accounting policies - Reclassifications of comparative information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Sales	$ 637,619	$ 821,930	$ 1,106,329
Cost applicable to sales	(393,888)	(512,874)	(613,381)
Trade and other payables	179,956	166,244
Income tax payable	3,162	5,650
Royalties expenses	11,749	12,832	21,388
Accounts payable	179,956	166,860
Current liabilities
Trade and other payables	179,956	166,244
Provisions	68,000	72,771
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Net cash and cash equivalents provided by operating activities	122,885	47,065	346,260
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Sales	592,394	734,526	658,653
Cost applicable to sales	(666,456)	(692,721)	(619,424)
Trade and other payables	68,645	72,806
Income tax payable	42,029	23,153
Royalties expenses		49,000	3,600
Provision related to benefits to employees	17,311	12,793
Current liabilities
Trade and other payables	68,645	72,806
Provisions	101,786	45,317
Other accruals and liabilities		49,301
Non-current liabilities
Provisions	1,660,603	1,587,551
Other accruals and liabilities	40	305
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Provisions		10,051	(2,617)
Trade and other payables		(8,231)	2,028
Other accruals and liabilities		21,282	(197)
Value added tax credit and other taxes		(16,491)	7,616
Current income tax expense		64,928	29,297
Net cash and cash equivalents provided by operating activities		(34,419)	(78,519)
Minera Yanacocha SRL and subsidiary [Member] | Previously stated
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Trade and other payables		76,484
Current liabilities
Trade and other payables		76,484
Provisions		90,940
Non-current liabilities
Provisions		1,587,856
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Provisions		30,082	(2,494)
Trade and other payables		(6,980)	1,708
Value added tax credit and other taxes		(3,003)	13,856
Income tax collected(paid)		19,239	14,160
Income tax payable		32,201	8,897
Net cash and cash equivalents provided by operating activities		(34,419)	(78,519)
Minera Yanacocha SRL and subsidiary [Member] | Reclassifications
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Trade and other payables		(3,678)
Other capital contributions	10,100
Current liabilities
Trade and other payables		(3,678)
Provisions		(45,623)
Other accruals and liabilities		49,301
Non-current liabilities
Provisions		(305)
Other accruals and liabilities		305
Adjustments to reconcile profit after income tax to net cash flows from operating activities:
Provisions		(20,031)	(123)
Trade and other payables		(1,251)	320
Other accruals and liabilities		21,282	(197)
Value added tax credit and other taxes		(13,488)	(6,240)
Income tax collected(paid)		(19,239)	(14,160)
Income tax payable		(32,201)	(8,897)
Current income tax expense		64,928	29,297
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Sales	2,538,593	2,896,894	3,061,930
Income tax payable	34,716
Royalties expenses	2,000	2,923	2,743
Accounts payable - Related entities	3,446	4,014
Other capital contributions	11,500	10,100	$ 8,900
Accounts payable	411,857	$ 479,104
Sociedad Minera Cerro Verde S.A.A. [Member] | Reclassifications
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Accounts payable - Related entities	(10,100)
Amount of reclassifications from opening balance of accounts payable - related parties	8,900
Amount of reclassifications from accounts payable - related parties during the period	1,200
Provisions, short term	(27,900)
Accounts payable	27,900
Provision related to benefits to employees	(17,300)
Other accounts payable	17,300
Sociedad Minera Cerro Verde S.A.A. [Member] | Reclassifications | Sales of goods
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Royalties expenses	(6,800)
Sociedad Minera Cerro Verde S.A.A. [Member] | Reclassifications | Cost of sales
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Royalties expenses	$ 6,800

Basis for preparation, conso_13

Basis for preparation, consolidation and accounting policies - Estimated useful lives of right of use assets (Details) - Sociedad Minera Cerro Verde S.A.A. [Member]	12 Months Ended
	Dec. 31, 2020
Land
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Estimated useful life of right of use assets	10 years
Buildings and other constructions | Minimum
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Estimated useful life of right of use assets	1 year
Buildings and other constructions | Maximum
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Estimated useful life of right of use assets	14 years
Machinery and equipment | Minimum
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Estimated useful life of right of use assets	3 years
Machinery and equipment | Maximum
Disclosure of basis for preparation, consolidation and accounting policies [Line Items]
Estimated useful life of right of use assets	14 years

Transactions in soles (Details)

Transactions in soles (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents.	$ 235,449	$ 210,046	$ 369,200	$ 214,551
Trade and other receivables	230,830	287,712
Income tax credit	19,837	31,919
Total assets	3,979,617	4,107,274	4,217,221
Liabilities
Trade and other payables	(179,956)	(166,860)
Income tax payable	(3,162)	(5,650)
Provisions, contingent liabilities and other liabilities	(68,000)	(72,771)
Total liabilities	(1,179,760)	(1,139,074)	$ (1,187,656)
PEN
Assets
Cash and cash equivalents.	8,606	6,796
Trade and other receivables	159,099	139,624
Income tax credit	19,837	31,919
Total assets	187,542	178,339
Liabilities
Trade and other payables	(47,705)	(60,311)
Income tax payable	(3,162)	(5,650)
Provisions, contingent liabilities and other liabilities	(38,574)	(41,515)
Total liabilities	(89,441)	(107,476)
Net asset position	$ 98,101	$ 70,863

Transactions in soles - Additio

Transactions in soles - Additional information (Details)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Purchased call options [member]
Transactions in Soles
Closing foreign exchange rate	0.2764	0.2968
Purchased call options [member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Transactions in Soles
Closing foreign exchange rate	3.618	3.311
Written put options [member]
Transactions in Soles
Closing foreign exchange rate	0.2759	0.2959
Written put options [member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Transactions in Soles
Closing foreign exchange rate	3.624	3.317

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents
Cash		$ 173	$ 304
Bank accounts (b)	[1]	185,276	37,836
Time deposits (c)	[2]	50,000	171,906
Cash and cash equivalents.		235,449	210,046	$ 369,200	$ 214,551
Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Cash		22	22
Bank accounts (b)		51,279	56,822
Time deposits (c)		819,628	761,659
Cash and cash equivalents.		870,929	818,503
Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Cash equivalents	[3]	529,820	471,372
Bank accounts (b)		3,910	10,119
Cash and cash equivalents.		$ 533,730	$ 481,491
[1]	(b)Bank accounts earn interest at floating rates based on market rates.
[2]	(c)As of December 31, 2020 and 2019, time deposits were kept in prime financial institutions, which generated interest at annual market rates and have current maturities, according to the immediate cash needs of the Group.
[3]	(a)Cash equivalents as of December 31, 2020, includes short-term deposits with Scotiabank Peru of US$125.0 million, Citibank NY of US$92.3 million and a portfolio of investments in highly marketable liquid investments (investments classified as “AAA” by Standard & Poor’s and Moody’s) of US$312.5 million, which yield variable returns, and are classified as cash equivalents because they are readily convertible to known amounts of cash and management plans to use them for its short-term cash needs. Because of the short maturity of these investments (i.e., less than 90 days), the carrying amount of these investments corresponds to their fair value at the date of the financial statements. Changes in the fair value of these investments are insignificant.

Cash and cash equivalents - Ter

Cash and cash equivalents - Term deposit balance (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents
Short-term deposits, classified as cash equivalents	[1]	$ 50,000	$ 171,906
Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		819,628	761,659
Moodys [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		312,500
Scotiabank Peru [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		125,000
Scotiabank Peru [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		125,000
Citibank NY [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		92,300
JP Morgan [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		404,319	501,916
Citi bank [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		215,073	214,282
Santander [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		50,114
BNP Paribas [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		50,080	$ 45,461
Standard Chartered [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		50,031
MUFG Bank [Member] | Minera Yanacocha SRL and subsidiary [Member]
Cash and cash equivalents
Short-term deposits, classified as cash equivalents		$ 50,011
[1]	(c)As of December 31, 2020 and 2019, time deposits were kept in prime financial institutions, which generated interest at annual market rates and have current maturities, according to the immediate cash needs of the Group.

Related parties (Details)

Related parties (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions		$ 594,409	$ 453,070
Balances payable to related parties [Abstract]
Total accounts payable, short term		3,446	4,014
Accounts Receivables Non Provisional Pricing [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions		116,740	121,995
Accounts Receivables Provisional Pricing [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions		376,235	294,998
Freeport Minerals Corporation [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions	[1]	462,304	401,211
Balances payable to related parties [Abstract]
Amounts payable to related parties		0	367
Sumitomo Metal Mining Company, Ltd. [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions	[2]	16,352	10,760
Climax Molybdenum Marketing Corporation [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions	[3]	14,319	5,022
Freeport-McMoRan Sales Company Inc. [Member]
Balances payable to related parties [Abstract]
Amounts payable to related parties		2,883	3,086
Minera Freeport-McMoRan South America Ltda [Member]
Balances payable to related parties [Abstract]
Amounts payable to related parties		402	561
Freeport Cobalt OY [Member]
Balances payable to related parties [Abstract]
Amounts payable to related parties		161	0
Embedded derivatives [Member]
Balances receivable from related parties [Abstract]
Amounts receivable, related party transactions	[4]	$ 101,434	$ 36,077
[1]	Accounts receivable from FMC mainly correspond to sales of copper concentrate and copper cathode. The Company has a long-term agreement with FMC through which it has committed to sell between 70% and 80% of its annual copper concentrate production through December 31, 2021. Terms of the contract are reviewed annually.
[2]	The Company has a long-term agreement with Sumitomo through which it has committed to sell 21% of its annual copper concentrate production through December 31, 2021. Terms of the contract are reviewed annually.
[3]	The Company has a new long-term agreement with Climax Molybdenum Marketing Corporation (a wholly owned subsidiary of FMC) through which it has committed to sell 100% of its annual molybdenum concentrate production, at a price based on MWDO and under a delivery type known as CIF (cost, insurance and freight) from February 1, 2020, through January 31, 2022.
[4]	Reflects the embedded derivative adjustment associated with accounts receivable from related parties (see Note 2(d) and 21).

Related parties - Additional In

Related parties - Additional Information (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] $ in Thousands		12 Months Ended
		Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure Of Related Party Explanatory [Line Items]
Description of basis for determining transaction price and type of delivery		at a price based on MWDO and under a delivery type known as CIF (cost, insurance and freight)
Amounts receivable, related party transactions		$ 594,409	$ 453,070
Benefits derived to key managerial personnel, Percentage		0.45	0.42
Related payments/vesting		$ 400	$ 800	$ 500
Stock-based compensation
Disclosure Of Related Party Explanatory [Line Items]
Related payments/vesting		2,300	1,600	1,200
Other capital contributions
Disclosure Of Related Party Explanatory [Line Items]
Net impact in "Other capital contributions"		1,500	1,200	$ 700
Freeport Minerals Corporation [Member]
Disclosure Of Related Party Explanatory [Line Items]
Amounts payable, related party transactions		0	367
Amounts receivable, related party transactions	[1]	462,304	401,211
Sumitomo Metal Mining Company, Ltd. [Member]
Disclosure Of Related Party Explanatory [Line Items]
Amounts receivable, related party transactions	[2]	16,352	10,760
Climax Molybdenum Marketing Corporation [Member]
Disclosure Of Related Party Explanatory [Line Items]
Amounts receivable, related party transactions	[3]	$ 14,319	$ 5,022
Copper concentrate [Member] | Sumitomo Metal Mining Company, Ltd. [Member] | Long-term contracts [member]
Disclosure Of Related Party Explanatory [Line Items]
Proportion of sales commitment made by entity, related party transactions		21.00%
Molybdenum concentrate [Member] | Climax Molybdenum Marketing Corporation [Member] | Long-term contracts [member]
Disclosure Of Related Party Explanatory [Line Items]
Proportion of sales commitment made by entity, related party transactions		100.00%
Minimum | Copper concentrate [Member] | Freeport Minerals Corporation [Member] | Long-term contracts [member]
Disclosure Of Related Party Explanatory [Line Items]
Proportion of sales commitment made by entity, related party transactions		70.00%
Maximum | Copper concentrate [Member] | Freeport Minerals Corporation [Member] | Long-term contracts [member]
Disclosure Of Related Party Explanatory [Line Items]
Proportion of sales commitment made by entity, related party transactions		80.00%
[1]	Accounts receivable from FMC mainly correspond to sales of copper concentrate and copper cathode. The Company has a long-term agreement with FMC through which it has committed to sell between 70% and 80% of its annual copper concentrate production through December 31, 2021. Terms of the contract are reviewed annually.
[2]	The Company has a long-term agreement with Sumitomo through which it has committed to sell 21% of its annual copper concentrate production through December 31, 2021. Terms of the contract are reviewed annually.
[3]	The Company has a new long-term agreement with Climax Molybdenum Marketing Corporation (a wholly owned subsidiary of FMC) through which it has committed to sell 100% of its annual molybdenum concentrate production, at a price based on MWDO and under a delivery type known as CIF (cost, insurance and freight) from February 1, 2020, through January 31, 2022.

Related parties - Transactions

Related parties - Transactions with related entities that affected results (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Demurrage				$ 524
Reimbursement				76
Total revenues				600
Expenses
Supplies		$ 55	$ 9	44
Sociedad Minera Cerro Verde S.A.A. [Member]
Revenues
Supplies		768
Demurrage		226	688
Reimbursement			491
Total revenues		994	1,179
Expenses
Reimbursement of information technology services		15,900	11,533	11,836
Commissions		7,801	8,953	8,292
Stock-based compensation (a)	[1]	2,259	1,560	1,174
Management fee		2,159	2,923	2,743
Supplies		492	908	1,133
Fixed assets and spare parts				14,265
Total expenses		$ 28,611	$ 25,877	$ 39,443
[1]	As indicated in the table above, during 2020, 2019 and 2018 stock-based compensation expense totaled US$2.3 million, US$1.6 million and US$1.2 million and the related payments/vesting totaled US$0.8 million, US$0.4 million and US$0.5

Trade and other receivables, _3

Trade and other receivables, net (Details) - USD ($) $ in Thousands		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Trade and other receivables, net
Trade receivables, gross		$ 181,968		$ 226,112
Trade receivables, net ,Allowance for doubtful accounts		(22,128)	[1]	(22,016)	[1]	$ (22,013)
Trade receivables, net		159,840		204,096
Other receivables, gross		183,054		182,137
Other receivables		173,337		172,131
Total trade and other receivables, net		333,177		376,227
Classification by maturity:
Current portion		230,830		287,712
Non-current portion		102,347		88,515
Total trade and other receivables, net		333,177		376,227
Classification by nature:
Financial receivables		288,207		320,242
Non-financial receivables		44,970		55,985
Total trade and other receivables, net		333,177		376,227
Classification by measurement :
Trade receivables (without provisional prices)		33,287		38,550
Trade receivables (with provisional prices)		126,553		165,546
Other accounts receivables		173,337		172,131
Total trade and other receivables, net		333,177		376,227
Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Trade receivables, net		29,042		16,400
Other receivables, gross		34,185		43,311
Other receivables		32,801		41,927
Total trade and other receivables, net		49,720		42,610
Classification by maturity:
Current portion		28,044		18,962
Non-current portion		21,676		23,648
Total trade and other receivables, net		49,720		42,610
Classification by nature:
Financial receivables		27,658		15,016
Non-financial receivables		22,062		27,594
Total trade and other receivables, net		49,720		42,610
Classification by measurement :
Total trade and other receivables, net		49,720		42,610
Domestic clients [Member]
Trade and other receivables, net
Trade receivables, gross		129,283		141,005
Foreign clients [Member]
Trade and other receivables, net
Trade receivables, gross		46,612		78,860
Foreign clients [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Trade receivables, gross		16,919		683
Related entities [Member]
Trade and other receivables, net
Trade receivables, gross	[2]	6,073		6,247
Other receivables, gross		2,312		2,967
Related entities [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Other receivables		2,300		598
Value added tax credit [Member]
Trade and other receivables, net
Other receivables, gross		44,389		54,328
Refund application of value added tax [Member]
Trade and other receivables, net
Other receivables, gross	[3]	581		1,657
Tax deposits [Member]
Trade and other receivables, net
Other receivables, gross		12,413		6,644
Other [Member]
Trade and other receivables, net
Other receivables, gross		475		743
Other [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Other receivables		2,728		5,247
Accounts receivables to third parties [Member]
Trade and other receivables, net
Other receivables, gross		28,277		31,478
Due from sale of assets [Member]
Trade and other receivables, net
Other receivables, gross		8,233		21,648
Advances to suppliers [Member]
Trade and other receivables, net
Other receivables, gross		20,569		9,275
Advances to suppliers [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Other receivables		7,095		9,872
Interest Receivable [Member]
Trade and other receivables, net
Other receivables, gross		2,648		3,244
Tax claims [Member]
Trade and other receivables, net
Other receivables, gross		62,373		44,014
Tax claims [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Other receivables		386		3,946
Dividends Receivable [Member]
Trade and other receivables, net
Other receivables, gross				2,501
Loan to Personel [Member]
Trade and other receivables, net
Other receivables, gross		408		1,128
Bank Accounts in Trust [Member]
Trade and other receivables, net
Other receivables, gross	[4]	376		2,510
Allowance for credit losses [member]
Trade and other receivables, net
Trade receivables, net ,Allowance for doubtful accounts	[1]	$ (9,717)		$ (10,006)
[1]	(f)Below is presented the movement in the allowance for expected credit losses:
[2]	(b)Trade accounts receivable are denominated in U.S. dollars, are neither due nor impaired, do not yield interest and have no specific guarantees.
[3]	(c)Corresponds mainly to current year refunds applications that are pending as of December 31, 2020.
[4]	(e)Corresponds mainly to collections that are deposited into restricted bank accounts that only can be used for the payment of financial obligations held by the subsidiary Empresa de Generación Huanza S.A. (hereafter “Huanza”), according to the finance lease signed with Banco de Crédito del Perú in 2009. Below is presented the movement:

Trade and other receivables, _4

Trade and other receivables, net - Receivables (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Trade and other receivables, net
Trade receivables, gross		$ 181,968	$ 226,112
Other receivables, gross		183,054	182,137
Allowance for expected credit losses (b)		(9,717)	(10,006)	$ (10,089)
Other Receivables		173,337	172,131
Total trade and other receivables, net		333,177	376,227
Trade and other receivables, net		230,830	287,712
Trade and other receivables, net		102,347	88,515
Foreign clients [Member]
Trade and other receivables, net
Trade receivables, gross		46,612	78,860
Advances to suppliers [Member]
Trade and other receivables, net
Other receivables, gross		20,569	9,275
Tax claims [Member]
Trade and other receivables, net
Other receivables, gross		62,373	44,014
Related entities [Member]
Trade and other receivables, net
Trade receivables, gross	[1]	6,073	6,247
Other receivables, gross		2,312	2,967
Other [Member]
Trade and other receivables, net
Other receivables, gross		475	743
Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Other receivables, gross		34,185	43,311
Allowance for expected credit losses (b)		(1,384)	(1,384)	$ (1,384)	$ (1,384)
Other Receivables		32,801	41,927
Total trade and other receivables, net		49,720	42,610
Trade and other receivables, net		28,044	18,962
Trade and other receivables, net		21,676	23,648
Minera Yanacocha SRL and subsidiary [Member] | Foreign clients [Member]
Trade and other receivables, net
Trade receivables, gross		16,919	683
Minera Yanacocha SRL and subsidiary [Member] | Advances to suppliers [Member]
Trade and other receivables, net
Other Receivables		7,095	9,872
Minera Yanacocha SRL and subsidiary [Member] | Tax claims [Member]
Trade and other receivables, net
Other Receivables		386	3,946
Minera Yanacocha SRL and subsidiary [Member] | Related entities [Member]
Trade and other receivables, net
Other Receivables		2,300	598
Minera Yanacocha SRL and subsidiary [Member] | Other [Member]
Trade and other receivables, net
Other Receivables		2,728	5,247
Minera Yanacocha SRL and subsidiary [Member] | Credit of tax on net assets [Member]
Trade and other receivables, net
Other Receivables		$ 21,676	$ 23,648
[1]	(b)Trade accounts receivable are denominated in U.S. dollars, are neither due nor impaired, do not yield interest and have no specific guarantees.

Trade and other receivables, _5

Trade and other receivables, net - Allowance for expected credit losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Trade and other receivables, net
Opening balance	$ 10,006
Ending balance	9,717
Minera Yanacocha SRL and subsidiary [Member]
Trade and other receivables, net
Opening balance	1,384
Additions/Deductions	0
Ending balance	$ 1,384

Trade and other receivables, _6

Trade and other receivables, net - Charged into restricted bank accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade and other receivables, net
Beginning balance	$ 2,510	$ 2,782	$ 2,372
Increase in restricted bank accounts		166	410
Decrease in restricted bank accounts	(2,134)	(438)	0
Final balance	$ 376	$ 2,510	$ 2,782

Trade and other receivables, _7

Trade and other receivables, net - Movement of allowance for expected credit losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Disclosure Of Available for Sale Assets Explanatory [Abstract]
Beginning balance	$ 32,022		$ 32,102		$ 32,184
Provision for other receivable, note 26	4		25		1,334
Provision for trade receivables, note 24	126		0		18
Provision of the period	130		25		1,352
Write off of the period			(162)		(410)
Exchange difference	(307)		57		(173)
Reversals of the period, note 26			0		(45)
Other minor			0		(806)
Final balance	31,845		32,022		32,102
Trade receivables	22,128	[1]	22,016	[1]	22,013
Other receivables	$ 9,717		$ 10,006		$ 10,089
[1]	(f)Below is presented the movement in the allowance for expected credit losses:

Trade and other receivables, _8

Trade and other receivables, net - Forced payments of tax debts that are in litigation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	$ 173,337	$ 172,131
Buenaventura
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	56,370	37,733
Buenaventura | SUNAT seizure
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	33,240	36,321
Buenaventura | Forced payment of part of the tax liability debt
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	19,918
Buenaventura | Inminsur's tax liability debt
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	1,403	1,412
Buenaventura | Payment of the tax liability debt imputed by SUNAT in the IGV inspection process
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	1,311
Buenaventura | Forced payment of part of the tax debt
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	498
Rio Seco | Forced payment of part of the VAT tax liability
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	3,279	3,398
El Brocal
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	2,724	2,618
El Brocal | Payment under protest of the tax liability
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	2,303	2,517
El Brocal | Payment of the fine for the benefit of reducing the fine
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	402
El Brocal | Other minor
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	19	101
Consorcio Energtico de Huancavelica S.A.
Disclosure of Trade and other receivables, net [Line Items]
Other receivables	$ 62,373	44,014
Consorcio Energtico de Huancavelica S.A. | Payment of the fine for the benefit of reducing the fine
Disclosure of Trade and other receivables, net [Line Items]
Other receivables		$ 265

Trade and other receivables, _9

Trade and other receivables, net - Additional information (Details) - USD ($)	Sep. 05, 2019	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Trade and other receivables, net [Line Items]
Expense arising from insurance contracts	$ 21,023,000
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Trade and other receivables, net [Line Items]
Current payables for purchase of non-current assets		$ 12,400,000	$ 30,300,000

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventory, net
Finished goods		$ 2,525	$ 2,084	$ 4,640
Products in process	[1]	52,619	47,652
Spare parts and supplies		76,937	74,033
Inventory gross		132,081	123,769
Provision for impairment of value of inventory		(31,117)	(25,402)
Finished goods [Abstract]
Current portion		77,327	97,973
Inventories, net		23,637	394
Inventories		100,964	98,367
Minera Yanacocha SRL and subsidiary [Member]
Inventory, net
Inventory gross		58,892	60,343
Allowance for obsolescence of materials and supplies (b)		(6,595)	(6,098)	$ (7,515)	$ (7,076)
Finished goods [Abstract]
Current portion		52,297	54,245
Inventories		52,297	54,245
Minera Yanacocha SRL and subsidiary [Member] | Precious metals [Member]
Inventory, net
Inventory gross		12,559	8,021
Minera Yanacocha SRL and subsidiary [Member] | Leach in circuit [Member]
Inventory, net
Inventory gross		3,117	5,158
Minera Yanacocha SRL and subsidiary [Member] | Mill in circuit [Member]
Inventory, net
Inventory gross		2,093	1,332
Minera Yanacocha SRL and subsidiary [Member] | Supplies
Inventory, net
Inventory gross		41,123	45,832
Sociedad Minera Cerro Verde S.A.A. [Member]
Inventory, net
Products in process	[2]	176,813	173,190
Finished goods [Abstract]
Copper cathode		3,826	6,321
Copper concentrate		16,563	23,890
Molybdenum concentrate		700	1,268
Less: Provision for obsolescence of materials and supplies		(104)	(507)
Current portion		566,794	552,197
Inventories, net	[2]	301,075	255,123
Inventories		867,869	807,320
Materials and supplies		$ 368,996	$ 348,035
[1]	Products in process include mainly to mineral in process of El Brocal for 1,527,521 Dried Metric Ton (DMT) amounting to US$32.2 million (1,592,905 DMT amounting to US$31.2 million as of December 31, 2019).
[2]	WIP inventories represent mill and leach stockpiles, which contain higher grade ores (mill stockpiles) and medium and lower grade ores (leach stockpiles) that have been extracted from the open pit and are available for copper recovery. Based on the future mine plan production, the Company identifies the portion of inventory that is classified as current or long-term. For mill stockpiles, recovery is through milling and concentrating. For leach stockpiles, recovery is through exposure to acidic solutions that dissolve copper and deliver it in a solution to extraction processing facilities.

Inventories, net - Impairment o

Inventories, net - Impairment of value of inventory (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventories, net
Beginning Balance	$ 25,402	$ 23,163	$ 11,603
Provision for impairment of finished and in progress goods, note 21(a)	8,920	7,329
Reversal for impairment of finished and in progress goods, note 21(a)	3,866	9,472	119
Provision for impairment of spare parts and supplies, note 26(a)	17,266	15,703	11,704
Reversal for impairment of spare parts and supplies, note 26(a)	(15,762)	(11,641)	(4,665)
Sale of mining unit, note 1(e)	(1,220)	0	0
Provision for impairment of spare parts and supplies	1,220	843	0
Reversal for impairment of spare parts and supplies	(843)	(523)	0
Final balance	$ 31,117	$ 25,402	$ 23,163

Inventories, net - Allowance fo

Inventories, net - Allowance for obsolescence of material and supplies (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory, net
Opening balance	$ 6,098	$ 7,515	$ 7,076
Provision for impairment of materials and supplies	1,459	1,898	1,887
Reversal of provision for impairment of materials and supplies	(962)	(3,315)	(1,448)
Ending balance	$ 6,595	$ 6,098	$ 7,515

Inventories, net - Additional i

Inventories, net - Additional information (Details) - El Brocal $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)T	Dec. 31, 2019USD ($)T
Inventory, net
Production in Process | $	$ 32.2	$ 31.2
Products in process of quantity | T	1,527,521	1,592,905

Other non-financial assets (Det

Other non-financial assets (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Current
Income tax prepayments and/or benefits (a)		$ 19,837	$ 31,919
Sociedad Minera Cerro Verde S.A.A. [Member]
Current
Value added tax (VAT) credit		40,300	27,414
Other taxes to be recovered		1,060	2,745
Income tax prepayments and/or benefits (a)	[1]		75,521
Total Current		41,360	105,680
Non-current
Other receivables (b)	[2]	190,501	186,626
Income tax prepayments and/or benefits (a)	[1]	13,669	52,559
Other taxes to be recovered		1,457	0
Total Non-Current		205,627	239,185
Total other non-financial assets		$ 246,987	$ 344,865
[1]	The balance as of December 31, 2020, represents income tax benefits from the years 2015 and 2016 determined in accordance with the IFRIC 23, “Uncertainty over Income Tax Treatments”.The balance as of December 31, 2019, represents disbursements made by the Company for the prepayment of income tax, which the Company expects to use to offset future tax obligations (see Note 13(b)) also includes income tax benefits from the years 2013 to 2018 as part of the adoption of IFRIC 23. During 2020, the Company applied a portion of this balance against the income tax payable as determined by the tax authority.
[2]	Represents disbursements made under protest by the Company in connection with disputed tax assessments related to reviews by SUNAT (Superintendencia Nacional de Administración Tributaria) from the years 2003 to 2012 (see Note 13(c) and 13(e)). According to current tax procedures and the timeframe for resolving these types of claims, management and its legal advisors expect resolution of this matter will be favorable to the Company and amounts will be recoverable.

Stockpiles and ore on leach p_3

Stockpiles and ore on leach pads, net (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current portion -
Stockpiles	$ 7,363	$ 23,769
Ore on leach pads	124,364	139,991
Net realizable value adjustment (b)	(10,212)	(28,837)
Current ore stockpiles	121,515	134,923
Non-current portion -
Stockpiles	33,088	35,888
Ore on leach pads	39,674	88,223
Net realizable value adjustment (b)	(3,075)	(19,088)
Non-current ore stockpiles	$ 69,687	$ 105,023

Stockpiles and ore on leach p_4

Stockpiles and ore on leach pads, net - Provision for net realizable value (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of stockpiles and ore on leach pads [Line Items]
Opening balance	$ 47,925	$ 89,127	$ 62,540
Provision	37,880	33,464	90,365
Reversal of provision	(72,518)	(74,666)	(63,778)
Ending balance	$ 13,287	$ 47,925	$ 89,127

Prepaid expenses (Details)

Prepaid expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid expenses
Prepaid energy services(b)	$ 25,692	$ 26,582
Prepaid insurance	15,794	13,568
Deferred costs of works for taxes	4,855	4,138
Other prepaid expenses	4,174	2,373
Prepaid expenses	50,515	46,661
Classification by maturity:
Current portion	25,709	20,969
Non-current portion	24,806	25,692
Prepaid expenses	$ 50,515	$ 46,661

Prepaid expenses - Additional i

Prepaid expenses - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Prepaid expenses
Non-current lease prepayments	$ 25,692	$ 26,582
Life of underlying assets	P35Y
Empresa de Generacin Huanza S.A
Prepaid expenses
Non-current lease prepayments	$ 31,007,190

Financial Instrument at fair _2

Financial Instrument at fair value (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2008	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Available For Sale Financial Assets [Line Items]
Change in fair value of the investments in marketable stocks		$ (207)	$ 821
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Available For Sale Financial Assets [Line Items]
Purchase of available-for-sale financial assets	$ 13,000
Non-current financial assets available-for-sale		25,168	24,417
Other comprehensive income, net of tax, financial assets measured at fair value through other comprehensive income		$ 123	$ 1,246	$ 91

Investments in associates and_3

Investments in associates and joint venture (Details) - USD ($) $ in Thousands	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in associates and joint ventures
Joint venture (d)		$ 2,254	$ 2,627
Investments in associates		1,488,775	1,488,247	$ 1,473,382
Investment In Associates And Joint Ventures		$ 1,488,775	$ 1,488,247
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Proportion of ownership interest in associate		19.58%	19.58%
Investments in associates		$ 1,209,126	$ 1,155,359
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Proportion of ownership interest in associate		43.65%	43.65%
Investments in associates		$ 157,835	$ 230,000
Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Proportion of ownership interest in associate		40.10%	40.10%
Investments in associates		$ 104,833	$ 98,426
Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Proportion of ownership interest in associate	19.30%	19.30%
Other minor investments [Member]
Investments in associates and joint ventures
Investments in associates		$ 1,865	1,835
Associates [member]
Investments in associates and joint ventures
Investments in associates		1,484,656	1,483,785
Associates [member] | Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Investments in associates		1,209,126	1,155,359
Associates [member] | Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Investments in associates		157,835	230,000
Associates [member] | Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Investments in associates		104,833	$ 98,426
Associates [member] | Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Investments in associates		$ 12,862

Investments in associates and_4

Investments in associates and joint venture - Net share in profit (loss) of investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in associates and joint ventures
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method	$ (9,517)	$ 47,710	$ (1,144)
Net share in profit (loss) of investments in joint venture	(252)	(44)
Net share in profit (loss) of investments	(9,517)	47,710	(1,144)
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method	(72,219)	(41,580)	(35,582)
Net share in profit (loss) of investments in associates	(72,219)	(41,580)	(35,582)
Net share in profit (loss) of investments	(72,219)	(41,580)	(35,582)
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Net share in profit (loss) of investments in associates	53,767	76,451	23,444
Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method	10,055	12,883	10,994
Net share in profit (loss) of investments in associates	10,055	12,883	10,994
Net share in profit (loss) of investments	10,055	12,883	10,994
Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method	(868)
Net share in profit (loss) of investments in associates	(868)
Net share in profit (loss) of investments	(868)
Other minor investments [Member]
Investments in associates and joint ventures
Net share in profit (loss) of investments in associates	$ (9,265)	$ 47,754	$ (1,144)

Investments in associates and_5

Investments in associates and joint venture - Statements of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in associates and joint ventures
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Current liabilities	(360,436)	(565,357)
Non-current liabilities	(819,324)	(573,717)
Shareholders' equity, net	2,799,857	2,968,200	$ 3,029,565	$ 3,063,627
Equity, adjusted	2,799,857	2,968,200	3,029,565	3,063,627
Investments in associates	1,488,775	1,488,247	1,473,382
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Current assets	1,099,590	1,060,455
Non-current assets	1,213,848	1,251,617
Current liabilities	(282,986)	(190,577)
Non-current liabilities	(1,706,066)	(1,631,783)
Shareholders' equity, net	324,386	489,712
Equity, adjusted	324,386	489,712
Groups' interest	141,594	213,759
Goodwill	16,241	16,241
Investments in associates	157,835	230,000
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Current assets	1,754,888	1,614,928
Non-current assets	6,012,571	6,194,496
Current liabilities	(450,680)	(420,786)
Non-current liabilities	(1,681,451)	(2,029,315)
Shareholders' equity, net	5,635,328	5,359,323	5,117,732	5,189,162
Equity, adjusted	5,635,328	5,359,323	$ 5,117,732	$ 5,189,162
Groups' interest	1,101,363	1,047,596
Goodwill	107,763	107,763
Investments in associates	$ 1,209,126	$ 1,155,359

Investments in associates and_6

Investments in associates and joint venture - Statements of profit or loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in associates and joint ventures
Sales of goods	$ 676,542	$ 867,888	$ 1,150,715
Sales of goods	637,619	821,930	1,106,329
Other comprehensive profit (loss):	(163,074)	(30,696)	10,947
Net loss from continued operations	(150,339)	(28,459)	(11,654)
Share in results	(9,517)	47,710	(1,144)
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Sales of goods	620,162	739,302	680,618
Sales of goods	592,394	734,526	658,653
Other comprehensive profit (loss):	123	1,246	(91)
Net loss from continued operations	(165,449)	(95,257)	(81,517)
Share in results	(72,219)	(41,580)	(35,582)
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Net loss from continued operations	$ 274,544	$ 390,377	$ 119,710

Investments in associates and_7

Investments in associates and joint venture - Statements of financial position of Cerro Verde under IFRS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in associates and joint ventures
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Current liabilities	(360,436)	(565,357)
Non-current liabilities	(819,324)	(573,717)
Shareholders' equity, net	2,799,857	2,968,200	$ 3,029,565	$ 3,063,627
Investments in associates	1,488,775	1,488,247	$ 1,473,382
Sociedads Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Current assets	1,754,888	1,614,928
Non-current assets	6,012,571	6,194,496
Current liabilities	(450,680)	(420,786)
Non-current liabilities	(1,681,451)	(2,029,315)
Shareholders' equity, net	$ 5,635,328	$ 5,359,323

Investments in associates and_8

Investments in associates and joint venture - Statements of profit or loss of Cerro Verde under IFRS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in associates and joint ventures
Sales of goods	$ 637,619	$ 821,930	$ 1,106,329
Profit for the period	(150,339)	(28,459)	(11,654)
Share in results	(9,517)	47,710	(1,144)
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Profit for the period	$ 274,544	$ 390,377	$ 119,710

Investments in associates and_9

Investments in associates and joint venture - Statements of financial position of Coimolache under IFRS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investments in associates and joint ventures
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Current liabilities	(360,436)	(565,357)
Non-current liabilities	(819,324)	(573,717)
Shareholders' equity, net	2,799,857	2,968,200	$ 3,029,565	$ 3,063,627
Group's interest	1,488,775	1,488,247	$ 1,473,382
Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Current assets	205,893	145,692
Non-current assets	213,073	234,223
Current liabilities	(45,589)	(34,028)
Non-current liabilities	(104,873)	(91,069)
Shareholders' equity, net	268,504	254,818
Adjustments to conform to the accounting policies of the Group	(7,037)	(9,330)
Shareholders' equity, adjusted	261,467	245,488
Group's interest	104,833	$ 98,426
Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Current assets	14,075
Non-current assets	50,464
Current liabilities	876
Shareholders' equity, net	63,663
Adjustments to conform to the accounting policies of the Group	2,982
Shareholders' equity, adjusted	$ 66,645

Investments in associates an_10

Investments in associates and joint venture - Statements of profit or loss of Coimolache under IFRS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in associates and joint ventures
Sales of goods	$ 676,542	$ 867,888	$ 1,150,715
Net income from continued operations	(150,339)	(28,459)	(11,654)
Share in results	(9,517)	47,710	(1,144)
Compania Minera Coimolache S.A. [Member]
Investments in associates and joint ventures
Sales of goods	203,163	241,173	225,447
Net income from continued operations	22,786	28,459	25,584
Adjustments to conform to the accounting policies	2,293	3,674	1,837
Net income, adjusted	25,079	32,133	27,421
Share in results	10,055	12,883	10,994
Sociedads Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Net income from continued operations	274,544	390,377	119,710
Share in results	$ 53,767	$ 76,451	$ 23,444

Investments in associates an_11

Investments in associates and joint venture - Statement of fair values of the identifiable assets and liabilities of Tinka (Details) $ in Thousands, £ in Millions	Jan. 31, 2020GBP (£)	Jan. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Consideration transferred			$ 13,453	$ 0	$ 0
Tinka Resources Ltd [Member]
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [abstract]
Current assets			16,548
Non-current assets			53,769
Current liabilities			(612)
Total identifiable net assets at fair value			69,705
Consideration transferred	£ 16	$ 13,400	$ 13,453

Investments in associates an_12

Investments in associates and joint venture - Statements of financial position of Tinka under IFRS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Investments in associates [Line Items]
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Current liabilities	360,436	565,357
Shareholders' equity, net	2,799,857	$ 2,968,200	$ 3,029,565	$ 3,063,627
Tinka Resources Ltd [Member]
Disclosure of Investments in associates [Line Items]
Current assets	14,075
Non-current assets	50,464
Current liabilities	(876)
Shareholders' equity, net	63,663
Adjustments to conform to the accounting policies of the Group	2,982
Shareholders' equity, net, adjusted	66,645
Group's interest	$ 12,862

Investments in associates an_13

Investments in associates and joint venture - Statements of profit or loss of Tinka under IFRS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Investments in associates [Line Items]
Sales of goods	$ 637,619	$ 821,930	$ 1,106,329
Net loss from continued operations	(150,339)	(28,459)	(11,654)
Share in results	(9,517)	$ 47,710	$ (1,144)
Total market capitalization of shares	$ 11,900
Market capitalization value by each share	$ 0.18
Tinka Resources Ltd [Member]
Disclosure of Investments in associates [Line Items]
Net loss from continued operations	$ (2,311)
Adjustments to conform to the accounting policies	(2,189)
Net income, adjusted	(4,500)
Share in results	$ (868)

Investments in associates an_14

Investments in associates and joint venture - Joint venture under IFRS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Investments in associates [Line Items]
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Liabilities	1,179,760	1,139,074	$ 1,187,656
Current liabilities	360,436	565,357
Shareholders' equity, reported	2,799,857	2,968,200	3,029,565	$ 3,063,627
Income tax expense or income	25,430	(25,590)	26,879
Net loss from continued operations	(150,339)	(28,459)	(11,654)
Share in results	(9,517)	47,710	$ (1,144)
Joint ventures [member]
Disclosure of Investments in associates [Line Items]
Current assets	12,946	11,090
Non-current assets	93,847	100,106
Liabilities	87,005	88,608
Shareholders' equity, reported	19,788	22,588
Group's interest	2,254	2,627
Revenue	20,571	24,521
Interest income		101
Interest expense	(5,252)	(5,694)
Income tax expense or income	311	186
Net loss from continued operations	(2,800)	(665)
Share in results	$ (252)	$ (44)

Investments in associates an_15

Investments in associates and joint venture - Additional information (Details) $ / shares in Units, $ in Thousands, £ in Millions	Jan. 31, 2020GBP (£)shares	Jan. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)oz$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)	Dec. 31, 2016USD ($)	Feb. 29, 2020USD ($)shares	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)shares
Investments in associates and joint ventures
Gross proceeds to associate			$ 13,453	$ 0	$ 0
Impairment loss						$ 0
market capitalization of shares			$ 11,900
market capitalization value per share | $ / shares			$ 0.18
Number of shares acquired in business combination | shares									63,920,000
Percentage of voting equity interests acquired									5.00%
Consideration transferred, acquisition-date fair value									$ 47,900
Minera Yanacocha S.R.L. [Member]
Investments in associates and joint ventures
Potential outstanding liability							$ 61,000
Provision for workers participation			$ 2,100
Percent of common shares acquired			43.65%	43.65%
Consideration transferred, acquisition-date fair value								$ 48,000
Average production capacity | oz			55,413
Interest and penalties							21,000
Value added tax payables							$ 8,100
Sociedad Minera Cerro Verde Saa [Member]
Investments in associates and joint ventures
Percent of common shares acquired			19.58%	19.58%
market capitalization of shares			$ 1,434,000	$ 1,323,000
market capitalization value per share | $ / shares			$ 20.92	$ 19.30
Transportadora Callao SA [Member]
Investments in associates and joint ventures
Percentage of voting equity interests acquired			8.00%
Tinka Resources Ltd [Member]
Investments in associates and joint ventures
Number of common shares acquired | shares	65,843,620	65,843,620					65,843,620
Price per share | $ / shares		$ 0.243
Gross proceeds to associate	£ 16	$ 13,400	$ 13,453
Percent of common shares acquired	19.30%	19.30%	19.30%

Mining concessions, developme_3

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mining concessions, development costs, property, plant and equipment, net
Opening balance	$ 1,754,372	$ 1,847,615
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	1,650,361	1,754,372	$ 1,847,615
Final balances	1,650,361	1,754,372	1,847,615
Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	3,781,326	3,727,403
Additions	109,325	133,070
Disposals	(14,270)	(48,153)
Sales	(104,403)	(45,772)
Reclassifications and transfers		(3,750)
Implementation IFRS 16		18,528
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	3,771,978	3,781,326	3,727,403
Final balances	3,771,978	3,781,326	3,727,403
Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(1,998,596)	(1,853,513)
Additions	(199,586)	(222,221)
Disposals	1,595	36,331
Sales	101,245	40,807
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(2,095,342)	(1,998,596)	(1,853,513)
Final balances	(2,095,342)	(1,998,596)	(1,853,513)
Accumulated impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(28,358)	(26,275)
Additions	2,083	2,083
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(26,275)	(28,358)	(26,275)
Final balances	(26,275)	(28,358)	(26,275)
Land | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	17,517	21,761
Additions	133	630
Sales		(135)
Reclassifications and transfers		(4,739)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	17,650	17,517	21,761
Final balances	17,650	17,517	21,761
Mining concessions [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	151,873	151,873
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	151,873	151,873	151,873
Final balances	151,873	151,873	151,873
Mining concessions [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(40,259)	(40,249)
Additions	(11)	(10)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(40,270)	(40,259)	(40,249)
Final balances	(40,270)	(40,259)	(40,249)
Development costs [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	788,044	743,259
Additions	33,233	46,047
Disposals		(443)
Sales	8,657
Reclassifications and transfers	612	(819)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	813,232	788,044	743,259
Final balances	813,232	788,044	743,259
Development costs [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(328,517)	(298,553)
Additions	(21,139)	(29,964)
Sales	8,657
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(340,999)	(328,517)	(298,553)
Final balances	(340,999)	(328,517)	(298,553)
Buildings and other constructions | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	1,359,841	1,342,621
Additions	99	39
Disposals	(132)	(3,559)
Sales	45,624	(5,380)
Reclassifications and transfers	28,876	26,120
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	1,343,060	1,359,841	1,342,621
Final balances	1,343,060	1,359,841	1,342,621
Buildings and other constructions | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(667,319)	(591,643)
Additions	(74,719)	(83,274)
Disposals	53	3,391
Sales	44,096	(3,569)
Reclassifications and transfers	435	(638)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(698,324)	(667,319)	(591,643)
Final balances	(698,324)	(667,319)	(591,643)
Machinery and equipment | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	912,704	958,466
Additions	4	12
Disposals	(419)	(30,235)
Sales	42,319	(38,322)
Reclassifications and transfers	13,222	22,783
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	883,192	912,704	958,466
Final balances	883,192	912,704	958,466
Machinery and equipment | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(667,937)	(665,357)
Additions	(60,034)	(66,020)
Disposals	265	28,619
Sales	40,805	35,459
Reclassifications and transfers	(435)	638
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(686,466)	(667,937)	(665,357)
Final balances	(686,466)	(667,937)	(665,357)
Transportation units [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	8,892	10,885
Additions		33
Disposals		(540)
Sales	577	(1,856)
Reclassifications and transfers	94	370
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	8,409	8,892	10,885
Final balances	8,409	8,892	10,885
Transportation units [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(7,026)	(8,599)
Additions	(607)	(744)
Disposals		538
Sales	550	1,779
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(7,083)	(7,026)	(8,599)
Final balances	(7,083)	(7,026)	(8,599)
Fixtures and fittings [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	12,010	13,306
Additions	3	2
Disposals	(74)	(1,310)
Sales	408	(1)
Reclassifications and transfers	206	13
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	11,737	12,010	13,306
Final balances	11,737	12,010	13,306
Fixtures and fittings [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(9,604)	(10,123)
Additions	(614)	(653)
Disposals	46	1,172
Sales	348
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(9,824)	(9,604)	(10,123)
Final balances	(9,824)	(9,604)	(10,123)
Units in transit [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	3,754	2,682
Disposals	(373)	(1)
Reclassifications and transfers		1,073
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	3,381	3,754	2,682
Final balances	3,381	3,754	2,682
Work in Progress [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	50,365	56,662
Additions	27,322	44,319
Disposals	(325)	(1,168)
Sales	30	(78)
Reclassifications and transfers	(42,398)	(49,370)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	34,934	50,365	56,662
Final balances	34,934	50,365	56,662
Stripping activity asset [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	154,090	141,726
Additions	10,752	11,545
Disposals	(11,633)
Reclassifications and transfers	(612)	819
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	152,597	154,090	141,726
Final balances	152,597	154,090	141,726
Stripping activity asset [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(88,923)	(70,518)
Additions	(22,532)	(18,405)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(111,455)	(88,923)	(70,518)
Final balances	(111,455)	(88,923)	(70,518)
Right-of-use assets [member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	11,352
Additions	6,221	3,721
Disposals	(1,314)	(10,897)
Implementation IFRS 16		18,528
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	16,259	11,352
Final balances	16,259	11,352
Right-of-use assets [member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(5,167)
Additions	(5,145)	7,778
Disposals	1,231	2,611
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(9,081)	(5,167)
Final balances	(9,081)	(5,167)
Mine closure costs [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	310,884	284,162
Additions	31,558	26,722
Sales	6,788
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	335,654	310,884	284,162
Final balances	335,654	310,884	284,162
Mine closure costs [Member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(183,844)	(168,471)
Additions	(14,785)	(15,373)
Sales	6,789
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(191,840)	(183,844)	(168,471)
Final balances	(191,840)	(183,844)	(168,471)
Mine closure costs [Member] | Accumulated impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(15,290)	(13,207)
Additions	2,083	2,083
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(13,207)	(15,290)	(13,207)
Final balances	(13,207)	(15,290)	(13,207)
Mine Development Cost [Member] | Accumulated impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(10,153)	(10,153)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(10,153)	(10,153)	(10,153)
Final balances	(10,153)	(10,153)	(10,153)
Mining Concessions And Development Costs [Member] | Accumulated impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(2,915)	(2,915)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(2,915)	(2,915)	(2,915)
Final balances	(2,915)	(2,915)	(2,915)
Sociedad Minera Cerro Verde S.A.A. [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	5,690,851	5,602,902
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	5,495,976	5,690,851	5,602,902
Final balances	5,495,976	5,690,851	5,602,902
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	8,753,310	8,166,652
Additions	294,846	529,708
Disposals	(15,146)	(36,886)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	9,026,755	8,753,310	8,166,652
Final balances	9,026,755	8,753,310	8,166,652
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			95,728
Sociedad Minera Cerro Verde S.A.A. [Member] | Land | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	24,905	24,663
Additions	0	0
Disposals	0	(80)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	24,905	24,905	24,663
Final balances	24,905	24,905	24,663
Sociedad Minera Cerro Verde S.A.A. [Member] | Land | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Machinery and equipment | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	4,854,613	4,694,050
Additions	0	0
Disposals	(12,814)	(30,482)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	4,985,749	4,854,613	4,694,050
Final balances	4,985,749	4,854,613	4,694,050
Sociedad Minera Cerro Verde S.A.A. [Member] | Machinery and equipment | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Transportation units [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	26,365	23,251
Additions	0	0
Disposals	0	(32)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	30,098	26,365	23,251
Final balances	30,098	26,365	23,251
Sociedad Minera Cerro Verde S.A.A. [Member] | Transportation units [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Fixtures and fittings [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	949	949
Additions	0	0
Disposals	0	0
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	949	949	949
Final balances	949	949	949
Sociedad Minera Cerro Verde S.A.A. [Member] | Fixtures and fittings [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Work in Progress [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	158,068	185,928
Additions	161,059	271,364
Disposals	0	0
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	118,430	158,068	185,928
Final balances	118,430	158,068	185,928
Sociedad Minera Cerro Verde S.A.A. [Member] | Work in Progress [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Mine Maintenance Truck Shop [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions	13,400	78,200
Additions for capitalization of interest	1,400
Sociedad Minera Cerro Verde S.A.A. [Member] | Haul Trucks [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions	24,600	47,100
Sociedad Minera Cerro Verde S.A.A. [Member] | Stators For Ball Mills [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions	7,000	18,300
Additions for capitalization of interest	200
Sociedad Minera Cerro Verde S.A.A. [Member] | Tailing Drain Expansion [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions		15,200
Sociedad Minera Cerro Verde S.A.A. [Member] | Concentrator Optimization Project [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions		12,300
Sociedad Minera Cerro Verde S.A.A. [Member] | Regrowth Of Leach Pad [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions		10,900
Sociedad Minera Cerro Verde S.A.A. [Member] | Staged Flotation Reactor Engineering Project [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions		6,200
Sociedad Minera Cerro Verde S.A.A. [Member] | New shovel and rebuild of another shovel
Mining concessions, development costs, property, plant and equipment, net
Additions	37,900
Sociedad Minera Cerro Verde S.A.A. [Member] | Projects associated with the capitalization of main components of the mine heavy equipment
Mining concessions, development costs, property, plant and equipment, net
Additions	17,600
Sociedad Minera Cerro Verde S.A.A. [Member] | Projects for the optimization of the Company's operating processes
Mining concessions, development costs, property, plant and equipment, net
Additions	14,800
Sociedad Minera Cerro Verde S.A.A. [Member] | Rollers [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions	11,000
Sociedad Minera Cerro Verde S.A.A. [Member] | Tailing dam projects related to drain expansion and jacking header extension
Mining concessions, development costs, property, plant and equipment, net
Additions	10,400
Additions for capitalization of interest	400
Sociedad Minera Cerro Verde S.A.A. [Member] | Other projects
Mining concessions, development costs, property, plant and equipment, net
Additions for capitalization of interest	500
Sociedad Minera Cerro Verde S.A.A. [Member] | Stripping activity asset [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	852,747	655,709
Additions	92,890	197,038
Disposals	0	0
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	945,637	852,747	655,709
Final balances	945,637	852,747	655,709
Sociedad Minera Cerro Verde S.A.A. [Member] | Stripping activity asset [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			0
Sociedad Minera Cerro Verde S.A.A. [Member] | Right-of-use assets [member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	95,441
Additions	3,328	1,342
Disposals	(2,318)	(929)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	96,451	95,441
Final balances	96,451	95,441
Sociedad Minera Cerro Verde S.A.A. [Member] | Right-of-use assets [member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			95,728
Sociedad Minera Cerro Verde S.A.A. [Member] | Right-of-use assets [member] | Accumulated depreciation, amortisation and impairment [member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	(10,585)
Additions	(11,320)	11,488
Disposals	2,316	903
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	(19,589)	(10,585)
Final balances	(19,589)	(10,585)
Sociedad Minera Cerro Verde S.A.A. [Member] | Other property, plant and equipment [Member] | Gross carrying amount [Member]
Mining concessions, development costs, property, plant and equipment, net
Opening balance	25,100	25,491
Additions	0	0
Disposals	0	(594)
Mining concessions, development costs, right-of-use asset, property, plant and equipment, net	30,965	25,100	25,491
Final balances	$ 30,965	$ 25,100	25,491
Sociedad Minera Cerro Verde S.A.A. [Member] | Other property, plant and equipment [Member] | Gross carrying amount [Member] | IFRS 16 [Member]
Mining concessions, development costs, property, plant and equipment, net
Additions			$ 0

Mining concessions, developme_4

Mining concessions, development costs, right-of-use assets, property, plant and equipment, net - Estimates prices for the current and long-term periods (Details)	Dec. 31, 2020$ / t$ / oz
Less than 1 year | Gold per ounce [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / oz	1,800
Less than 1 year | Silver [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / oz	23
Less than 1 year | Copper [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / t	7,250
Less than 1 year | Lead [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / t	1,850
Between 1 to 2 years | Gold per ounce [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / oz	1,747
Between 1 to 2 years | Silver [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / oz	21.20
Between 1 to 2 years | Copper [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / t	7,083
Between 1 to 2 years | Lead [Member]
Mining concessions, development costs, property, plant and equipment, net
Commodity price estimates | $ / t	2,056

Mining concessions, developme_5

Mining concessions, development costs, right-of-use assets, property, plant and equipment, net - Net assets for right in use (Details)	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2016USD ($)
Mining concessions, development costs, property, plant and equipment, net
After-tax discount rate applied to the pre-tax cash flows	5.25
Pre-tax discount rate applied to the pre-tax cash flows	8.09%
Book Value Of Assets Under Finance Lease	$ 187,800,000		$ 313,300,000
Acquisition Of Assets Under Lease		$ 0	0
Capitalized finance costs		0	0
Right-of-use assets	7,178,000	6,185,000
Additions to right-of-use assets	6,200,000	3,700,000
Disposal of right of use assets	1,300,000	10,900,000
Reversal of Impairment loss of long-lived assets, note 11(b)	2,083,000	(2,083,000)	5,693,000
Write-off of stripping activity asset	11,633,000	0	0
Impairment loss				$ 0
Buildings and other constructions
Mining concessions, development costs, property, plant and equipment, net
Right-of-use assets	3,370,000	4,602,000
Transportation units
Mining concessions, development costs, property, plant and equipment, net
Right-of-use assets	3,330,000	1,112,000
Machinery and equipment
Mining concessions, development costs, property, plant and equipment, net
Right-of-use assets	$ 478,000	471,000
El Brocal
Mining concessions, development costs, property, plant and equipment, net
After-tax discount rate applied to the pre-tax cash flows	7.91
Pre-tax discount rate applied to the pre-tax cash flows	12.18%
Goodwill	$ 34,000,000
Stripping activity asset of phase 9 written off | item	1,102,117
Write-off of stripping activity asset	$ 11,633,000
Stripping activity asset of phase 9 expected to be produced	$ 3,244,000
Stripping activity asset of phase 9 | item	307,302
La Zanja mining unit [Member]
Mining concessions, development costs, property, plant and equipment, net
After-tax discount rate applied to the pre-tax cash flows	5.96
Pre-tax discount rate applied to the pre-tax cash flows	9.19%
Reversal of impairment loss recognised in profit or loss, property, plant and equipment		5,700,000
Shila-Paula mining unit [Member]
Mining concessions, development costs, property, plant and equipment, net
Reversal of impairment loss recognised in profit or loss, property, plant and equipment			2,800,000
Impairment Of Long Lived Asset [Member] | La Zanja mining unit [Member]
Mining concessions, development costs, property, plant and equipment, net
Reversal of Impairment loss of long-lived assets, note 11(b)			$ 5,700,000
Impairment Of Long Lived Asset [Member] | Julcani Mining Unit [Member]
Mining concessions, development costs, property, plant and equipment, net
Provisions	$ 0
Reversal of Impairment loss of long-lived assets, note 11(b)	$ 2,100,000	$ 2,100,000

Mining concessions, developme_6

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net - Net cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, plant and equipments,net [Line Items]
Opening balance	$ 1,754,372	$ 1,847,615
Final balances	1,650,361	1,754,372	$ 1,847,615
Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	1,038,294	840,454
Final balances	1,039,579	1,038,294	840,454
Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	5,690,851	5,602,902
Final balances	5,495,976	5,690,851	5,602,902
Gross carrying amount [Member]
Property, plant and equipments,net [Line Items]
Opening balance	3,781,326	3,727,403
Additions	109,325	133,070
Sales and disposals	(14,270)	(48,153)
Sales	104,403	45,772
Final balances	3,771,978	3,781,326	3,727,403
Gross carrying amount [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	4,567,187	4,309,213
Additions	143,489	344,415
Sales and disposals	(25,067)	(85,069)
Transfer/Other changes	(382)	(1,372)
Final balances	4,685,227	4,567,187	4,309,213
Gross carrying amount [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	8,753,310	8,166,652
Additions	294,846	529,708
Adjustments and reclassifications	(6,255)	(1,892)
Sales and disposals	(15,146)	(36,886)
Transfer/Other changes	0	0
Final balances	9,026,755	8,753,310	8,166,652
Gross carrying amount [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			95,728
Gross carrying amount [Member] | Land
Property, plant and equipments,net [Line Items]
Opening balance	17,517	21,761
Additions	133	630
Sales		135
Final balances	17,650	17,517	21,761
Gross carrying amount [Member] | Land | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	17,053	9,459
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	269	7,594
Final balances	17,322	17,053	9,459
Gross carrying amount [Member] | Land | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	24,905	24,663
Additions	0	0
Adjustments and reclassifications	0	0
Sales and disposals	0	(80)
Transfer/Other changes	0	322
Final balances	24,905	24,905	24,663
Gross carrying amount [Member] | Land | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Land improvements [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	28,982	36,454
Additions	0	0
Sales and disposals	0	(7,472)
Transfer/Other changes	0	0
Final balances	28,982	28,982	36,454
Gross carrying amount [Member] | Buildings and constructions [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	271,554	298,328
Additions	0	0
Sales and disposals	0	(26,556)
Transfer/Other changes	4,510	(218)
Final balances	276,064	271,554	298,328
Gross carrying amount [Member] | Buildings and constructions [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	2,548,124	2,449,577
Additions	0	0
Adjustments and reclassifications	(1)	544
Sales and disposals	(14)	(4,769)
Transfer/Other changes	40,895	102,772
Final balances	2,589,004	2,548,124	2,449,577
Gross carrying amount [Member] | Buildings and constructions [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Machinery and equipment
Property, plant and equipments,net [Line Items]
Opening balance	912,704	958,466
Additions	4	12
Sales and disposals	(419)	(30,235)
Sales	(42,319)	38,322
Final balances	883,192	912,704	958,466
Gross carrying amount [Member] | Machinery and equipment | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	216,872	244,560
Additions	0	0
Sales and disposals	(20,844)	(46,286)
Transfer/Other changes	14,187	18,598
Final balances	210,215	216,872	244,560
Gross carrying amount [Member] | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	4,854,613	4,694,050
Additions	0	0
Adjustments and reclassifications	1	(544)
Sales and disposals	(12,814)	(30,482)
Transfer/Other changes	143,949	191,589
Final balances	4,985,749	4,854,613	4,694,050
Gross carrying amount [Member] | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Leach pads [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	1,817,226	1,723,270
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	12,253	93,956
Final balances	1,829,479	1,817,226	1,723,270
Gross carrying amount [Member] | Transportation units [Member]
Property, plant and equipments,net [Line Items]
Opening balance	8,892	10,885
Additions		33
Sales and disposals		(540)
Sales	(577)	1,856
Final balances	8,409	8,892	10,885
Gross carrying amount [Member] | Transportation units [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	9,402	9,921
Additions	0	0
Sales and disposals	(98)	(1,043)
Transfer/Other changes	951	524
Final balances	10,255	9,402	9,921
Gross carrying amount [Member] | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	26,365	23,251
Additions	0	0
Adjustments and reclassifications	0	0
Sales and disposals	0	(32)
Transfer/Other changes	3,733	3,146
Final balances	30,098	26,365	23,251
Gross carrying amount [Member] | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Fixtures and fittings [Member]
Property, plant and equipments,net [Line Items]
Opening balance	12,010	13,306
Additions	3	2
Sales and disposals	(74)	(1,310)
Sales	(408)	1
Final balances	11,737	12,010	13,306
Gross carrying amount [Member] | Fixtures and fittings [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	2,556	2,556
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	2,556	2,556	2,556
Gross carrying amount [Member] | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	949	949
Additions	0	0
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	949	949	949
Gross carrying amount [Member] | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Other property, plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	59,262	58,924
Additions	0	0
Sales and disposals	0	(3,712)
Transfer/Other changes	2,232	4,050
Final balances	61,494	59,262	58,924
Gross carrying amount [Member] | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	25,100	25,491
Additions	0	0
Adjustments and reclassifications	0	0
Sales and disposals	0	(594)
Transfer/Other changes	5,865	203
Final balances	30,965	25,100	25,491
Gross carrying amount [Member] | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Work in Progress [Member]
Property, plant and equipments,net [Line Items]
Opening balance	50,365	56,662
Additions	27,322	44,319
Sales and disposals	(325)	(1,168)
Sales	(30)	78
Final balances	34,934	50,365	56,662
Gross carrying amount [Member] | Work in Progress [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	436,699	444,688
Additions	143,489	184,403
Sales and disposals	0	0
Transfer/Other changes	(69,829)	(192,392)
Final balances	510,359	436,699	444,688
Gross carrying amount [Member] | Work in Progress [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	158,068	185,928
Additions	161,059	271,364
Adjustments and reclassifications	(6,255)	(1,192)
Sales and disposals	0	0
Transfer/Other changes	(194,442)	(298,032)
Final balances	118,430	158,068	185,928
Gross carrying amount [Member] | Work in Progress [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Mining property [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	37,521	37,521
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	37,521	37,521	37,521
Gross carrying amount [Member] | Right-of-use assets [member]
Property, plant and equipments,net [Line Items]
Opening balance	11,352
Additions	6,221	3,721
Sales and disposals	(1,314)	(10,897)
Final balances	16,259	11,352
Gross carrying amount [Member] | Right-of-use assets [member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	1,045
Additions	0	1,045
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	1,045	1,045
Gross carrying amount [Member] | Right-of-use assets [member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	95,441
Additions	3,328	1,342
Adjustments and reclassifications		(700)
Sales and disposals	(2,318)	(929)
Final balances	96,451	95,441
Gross carrying amount [Member] | Right-of-use assets [member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			95,728
Gross carrying amount [Member] | Asset retirement and mine closure cost asset [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	693,365	534,398
Additions	0	158,967
Sales and disposals	(4,125)	0
Transfer/Other changes	0	0
Final balances	689,240	693,365	534,398
Gross carrying amount [Member] | Stripping activity asset [Member]
Property, plant and equipments,net [Line Items]
Opening balance	154,090	141,726
Additions	10,752	11,545
Sales and disposals	(11,633)
Final balances	152,597	154,090	141,726
Gross carrying amount [Member] | Stripping activity asset [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	151,494	148,487
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	35,045	3,007
Final balances	186,539	151,494	148,487
Gross carrying amount [Member] | Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	852,747	655,709
Additions	92,890	197,038
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	945,637	852,747	655,709
Gross carrying amount [Member] | Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Gross carrying amount [Member] | Mine developments [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	824,156	760,647
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	0	63,509
Final balances	824,156	824,156	760,647
Gross carrying amount [Member] | Asset retirement costs [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	166,998	107,034
Additions	37,569	59,964
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	204,567	166,998	107,034
Gross carrying amount [Member] | Asset retirement costs [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(3,528,893)	(3,468,759)
Additions	(137,238)	(141,815)
Sales and disposals	20,483	81,681
Transfer/Other changes	0	0
Final balances	(3,645,648)	(3,528,893)	(3,468,759)
Accumulated amortisation [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(3,062,459)	(2,563,750)
Additions	(483,285)	(534,047)
Adjustments and reclassifications	0	0
Sales and disposals	14,965	35,338
Transfer/Other changes	0	0
Final balances	(3,530,779)	(3,062,459)	(2,563,750)
Accumulated amortisation [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Land improvements [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(28,315)	(35,583)
Additions	(80)	(101)
Sales and disposals	0	7,369
Transfer/Other changes	0	0
Final balances	(28,395)	(28,315)	(35,583)
Accumulated amortisation [Member] | Buildings and constructions [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(226,129)	(247,979)
Additions	(6,981)	(5,702)
Sales and disposals	0	26,579
Transfer/Other changes	0	(973)
Final balances	(233,110)	(226,129)	(247,979)
Accumulated amortisation [Member] | Buildings and constructions [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(393,910)	(321,920)
Additions	(62,317)	(76,199)
Adjustments and reclassifications	0	513
Sales and disposals	14	4,722
Transfer/Other changes	0	0
Final balances	(456,213)	(393,910)	(321,920)
Accumulated amortisation [Member] | Buildings and constructions [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Machinery and equipment | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(184,030)	(204,255)
Additions	(18,029)	(21,780)
Sales and disposals	20,385	42,978
Transfer/Other changes	0	973
Final balances	(181,674)	(184,030)	(204,255)
Accumulated amortisation [Member] | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(2,040,819)
Additions	(277,384)	(284,097)	(1,786,326)
Adjustments and reclassifications	0	(513)
Sales and disposals	12,635	29,091
Transfer/Other changes	0	0
Final balances	(2,305,568)	(2,040,819)
Accumulated amortisation [Member] | Machinery and equipment | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Leach pads [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(1,694,288)	(1,656,002)
Additions	(40,197)	(38,286)
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(1,734,485)	(1,694,288)	(1,656,002)
Accumulated amortisation [Member] | Transportation units [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(8,828)	(9,855)
Additions	(49)	(16)
Sales and disposals	98	1,043
Transfer/Other changes	0	0
Final balances	(8,779)	(8,828)	(9,855)
Accumulated amortisation [Member] | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(15,872)	(13,972)
Additions	(1,826)	(1,928)
Adjustments and reclassifications	0	0
Sales and disposals	0	28
Transfer/Other changes	0	0
Final balances	(17,698)	(15,872)	(13,972)
Accumulated amortisation [Member] | Transportation units [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Fixtures and fittings [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(2,556)	(2,556)
Additions	4	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(2,564)	(2,556)	(2,556)
Accumulated amortisation [Member] | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(881)	(858)
Additions	(23)	(23)
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(904)	(881)	(858)
Accumulated amortisation [Member] | Fixtures and fittings [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Other property, plant and equipment [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(54,136)	(56,522)
Additions	(2,291)	(1,326)
Sales and disposals	0	3,712
Transfer/Other changes	0	0
Final balances	(56,423)	(54,136)	(56,522)
Accumulated amortisation [Member] | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(19,745)	(18,796)
Additions	(1,495)	(1,543)
Adjustments and reclassifications	0	0
Sales and disposals	0	594
Transfer/Other changes	0	0
Final balances	(21,240)	(19,745)	(18,796)
Accumulated amortisation [Member] | Other property, plant and equipment [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Mining property [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(29,457)	(29,457)
Additions	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(29,457)	(29,457)	(29,457)
Accumulated amortisation [Member] | Right-of-use assets [member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(461)
Additions	268	(461)
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(729)	(461)
Accumulated amortisation [Member] | Asset retirement and mine closure cost asset [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(478,826)	(424,008)
Additions	(61,882)	(54,818)
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(540,708)	(478,826)	(424,008)
Accumulated amortisation [Member] | Stripping activity asset [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(147,725)	(146,058)
Additions	(1,769)	(1,667)
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(149,494)	(147,725)	(146,058)
Accumulated amortisation [Member] | Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(553,732)	(398,202)
Additions	(124,309)	(155,530)
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(678,041)	(553,732)	(398,202)
Accumulated amortisation [Member] | Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			0
Accumulated amortisation [Member] | Mine developments [Member] | Minera Yanacocha SRL and subsidiary [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(674,142)	(656,484)
Additions	(5,688)	(17,658)
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	(679,830)	(674,142)	(656,484)
Accumulated amortisation [Member] | Asset retirement costs [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Property, plant and equipments,net [Line Items]
Opening balance	(26,915)	(23,676)
Additions	(4,611)	(3,239)
Adjustments and reclassifications	0	0
Sales and disposals	0	0
Transfer/Other changes	0	0
Final balances	$ (31,526)	$ (26,915)	(23,676)
Accumulated amortisation [Member] | Asset retirement costs [Member] | Sociedad Minera Cerro Verde S.A.A. [Member] | IFRS 16 [Member]
Property, plant and equipments,net [Line Items]
Additions			$ 0

Mining concessions, developme_7

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net - Carrying amounts of right-of-use assets recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	$ 6,185
Addition	6,200	$ 3,700
Ending Balance	7,178	6,185
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	84,856	95,728
Ending Balance	76,862	84,856
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	95,441	95,728
Addition	3,328	1,342
Adjustments		(700)
Disposals and or/sales	(2,318)	(929)
Ending Balance	96,451	95,441
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member] | Land
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	9,851	11,008
Adjustments		(700)
Disposals and or/sales		(457)
Ending Balance	9,851	9,851
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member] | Buildings and other constructions
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	55,936	55,114
Addition	2,880	1,192
Disposals and or/sales	(2,222)	(370)
Ending Balance	56,594	55,936
Sociedad Minera Cerro Verde S.A.A. [Member] | Gross carrying amount [Member] | Machinery and equipment
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	29,654	29,606
Addition	448	150
Disposals and or/sales	(96)	(102)
Ending Balance	30,006	29,654
Sociedad Minera Cerro Verde S.A.A. [Member] | Accumulated depreciation, amortisation and impairment [member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	(10,585)	0
Addition	11,320	11,488
Disposals and or/sales	(2,316)	(903)
Ending Balance	(19,589)	(10,585)
Sociedad Minera Cerro Verde S.A.A. [Member] | Accumulated depreciation, amortisation and impairment [member] | Land
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	(1,255)	0
Addition	1,642	1,712
Disposals and or/sales		(457)
Ending Balance	(2,897)	(1,255)
Sociedad Minera Cerro Verde S.A.A. [Member] | Accumulated depreciation, amortisation and impairment [member] | Buildings and other constructions
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	(6,269)	0
Addition	6,526	6,613
Disposals and or/sales	(2,220)	(344)
Ending Balance	(10,575)	(6,269)
Sociedad Minera Cerro Verde S.A.A. [Member] | Accumulated depreciation, amortisation and impairment [member] | Machinery and equipment
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Opening Balance	(3,061)	0
Addition	3,152	3,163
Disposals and or/sales	(96)	(102)
Ending Balance	$ (6,117)	$ (3,061)

Mining concessions, developme_8

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net - Estimate future revenues (Details) - Minera Yanacocha SRL and subsidiary [Member]	12 Months Ended
	Dec. 31, 2020$ / oz$ / £
Gold per ounce [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Commodity Price Estimate , Current | $ / oz	1,876
Commodity Price Estimate , Long Term | $ / oz	1,500
Copper [Member]
Disclosure of Mining concessions, development costs, property, plant and equipment, net [Line Items]
Commodity Price Estimate , Current | $ / £	3.1
Commodity Price Estimate , Long Term | $ / £	3

Mining concessions, developme_9

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended	48 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2020
Property, plant and equipments,net [Line Items]
Impairment loss	$ 0
Yanacocha | Minimum
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value			8.90%
Yanacocha | Maximum
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value			9.40%
Conga | Minimum
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value			9.38%
Conga | Maximum
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value			10.36%
Yanacocha mine [Member]
Property, plant and equipments,net [Line Items]
Impairment loss	$ 933,200	$ 1,342,645

Mining concessions, developm_10

Mining concessions, development costs, right-of-use asset, property, plant and equipment, net - Sensitivity analysis (Details) - Minera Yanacocha SRL and subsidiary [Member] $ in Millions	Dec. 31, 2020USD ($)
Yanacocha
Property, plant and equipments,net [Line Items]
Percentage of reasonably possible increase in WACC used in the determination of CGU's recoverable amounts	0.50%
Percentage of reasonably possible decrease in WACC used in the determination of CGU's recoverable amounts	(0.50%)
Yanacocha | Discount rate, Bottom of range
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value	8.90%
Increase (decrease) in CGU's recoverable amount due to reasonably possible increase in WACC used	$ 125
Increase (decrease) in CGU's recoverable amount due to reasonably possible decrease in WACC used	$ (14)
Yanacocha | Discount rate, Top of range
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value	9.40%
Increase (decrease) in CGU's recoverable amount due to reasonably possible increase in WACC used	$ 54.5
Increase (decrease) in CGU's recoverable amount due to reasonably possible decrease in WACC used	$ (77)
Conga
Property, plant and equipments,net [Line Items]
Percentage of reasonably possible increase in WACC used in the determination of CGU's recoverable amounts	0.50%
Percentage of reasonably possible decrease in WACC used in the determination of CGU's recoverable amounts	(0.50%)
Conga | Discount rate, Bottom of range
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value	9.40%
Increase (decrease) in CGU's recoverable amount due to reasonably possible increase in WACC used	$ 132
Increase (decrease) in CGU's recoverable amount due to reasonably possible decrease in WACC used	$ (33)
Conga | Discount rate, Top of range
Property, plant and equipments,net [Line Items]
Discount rate used in current estimate of fair value	10.40%
Increase (decrease) in CGU's recoverable amount due to reasonably possible increase in WACC used	$ (30)
Increase (decrease) in CGU's recoverable amount due to reasonably possible decrease in WACC used	$ (158)

Other assets, net (Details)

Other assets, net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Line Items]
Opening balance	$ 26,675	$ 25,261
Transfers		0
Disposals	0
Closing balance	26,503	26,675
Gross carrying amount [Member]
Other Assets [Line Items]
Opening balance	37,791	34,183
Additions	1,641	3,700
Transfers		(92)
Disposals	(189)
Closing balance	39,243	37,791
Accumulated amortisation [Member]
Other Assets [Line Items]
Opening balance	(11,116)	(8,922)
Additions	(1,628)	(2,306)
Transfers		112
Disposals	4
Closing balance	(12,740)	(11,116)
Patents And Industrial Property [Member] | Gross carrying amount [Member]
Other Assets [Line Items]
Opening balance	13,862	11,723
Additions	1,014	2,139
Transfers		0
Disposals	(167)
Closing balance	14,709	13,862
Rights-of-use [member] | Gross carrying amount [Member]
Other Assets [Line Items]
Opening balance	13,611	12,292
Additions	109	1,319
Transfers		0
Disposals	0
Closing balance	13,720	13,611
Rights-of-use [member] | Accumulated amortisation [Member]
Other Assets [Line Items]
Opening balance	(7,434)	(5,948)
Additions	(731)	(1,486)
Transfers		0
Disposals	0
Closing balance	(8,165)	(7,434)
Software licenses [member] | Gross carrying amount [Member]
Other Assets [Line Items]
Opening balance	10,318	10,168
Additions	518	242
Transfers		(92)
Disposals	(22)
Closing balance	10,814	10,318
Software licenses [member] | Accumulated amortisation [Member]
Other Assets [Line Items]
Opening balance	(3,682)	(2,974)
Additions	(897)	(820)
Transfers		(112)
Disposals	4
Closing balance	$ (4,575)	$ (3,682)

Bank loans (Details)

Bank loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Bank loans
Beginning balance	$ 55,000	$ 95,000	$ 95,000
New loans	18,019	55,000	95,000
Payments	(7,197)	(95,000)	(95,000)
Exchange difference	(29)	0	0
Final balance	$ 65,793	$ 55,000	$ 95,000

Bank loans - Additional informa

Bank loans - Additional information (Details)	Dec. 31, 2020	Dec. 31, 2019
Minimum
Disclosure Of Bank Loans [Line Items]
Borrowings, interest rate	1.65%	2.00%
Maximum
Disclosure Of Bank Loans [Line Items]
Borrowings, interest rate	3.70%	2.95%

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade payables
Trade payables	$ 149,446	$ 131,307
Other payables
Other accounts payable	30,510	35,553
Classification by maturity:
Trade and other current payables	179,956	166,244
Trade and other non-current payables	0	616
Trade and other payables.	179,956	166,860
Minera Yanacocha SRL and subsidiary [Member]
Trade payables
Trade payables	57,351	57,097
Other payables
Other accounts payable	11,294	15,709
Classification by maturity:
Trade and other current payables	68,645	72,806
Sociedad Minera Cerro Verde S.A.A. [Member]
Trade payables
Accounts payable	207,625	252,865
Other payables
Other accounts payable	126,465	99,380
Classification by maturity:
Trade and other payables.	411,857	479,104
Domestic suppliers [Member]
Trade payables
Trade payables	149,305	131,278
Domestic suppliers [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade payables
Trade payables	44,977	45,671
Related entities [Member]
Trade payables
Trade payables	141	29
Other payables
Other payables	328	51
Related entities [Member] | Minera Yanacocha SRL and subsidiary [Member]
Trade payables
Trade payables	12,374	11,426
Taxes payable [Member]
Other payables
Other payables	9,663	12,043
Remuneration and similar benefits payable [Member]
Other payables
Other payables	8,860	11,522
Remuneration and similar benefits payable [Member] | Minera Yanacocha SRL and subsidiary [Member]
Other payables
Other payables	4,649	7,818
Other Taxes Payable [Member] | Minera Yanacocha SRL and subsidiary [Member]
Other payables
Other payables	4,097	5,195
Interest Payable [Member]
Other payables
Other payables	3,020	5,318
Royalties payable to the Peruvian State [Member]
Other payables
Other payables	2,441	2,132
Royalties payable to the Peruvian State [Member] | Minera Yanacocha SRL and subsidiary [Member]
Other payables
Other payables	2,548	2,696
Hedge instruments accounts payables [Member]
Other payables
Other payables	1,569
Dividends payable [Member]
Other payables
Other payables	638	604
Other liability [Member]
Other payables
Other payables	3,991	3,883
Financial payables [Member]
Classification by maturity:
Trade and other payables.	167,852	152,686
Non financial payables [Member]
Classification by maturity:
Trade and other payables.	$ 12,104	$ 14,174

Trade and other payables - Move

Trade and other payables - Movement of dividends payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables
Beginning balance	$ 604	$ 663	$ 730
Declared dividends to controlling shareholders, note 17(d)		22,098	22,860
Dividends paid to controlling shareholders		(22,098)	(22,860)
Declared dividends to non-controlling shareholders, note 17(d)	5,140	6,500	5,560
Dividends paid to non-controlling shareholders, note 17(d)	(5,140)	(6,500)	(5,560)
Expired dividends	(26)	(53)	(44)
Other minor	60	(6)	(23)
Final balance	$ 638	$ 604	$ 663

Other accounts payable (Details

Other accounts payable (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Current
Income tax payable		$ 3,162	$ 5,650
Total current		30,510	35,553
Sociedad Minera Cerro Verde S.A.A. [Member]
Current
Royalties and mining taxes in dispute (a)	[1]	87,499	95,120
Income tax payable		34,716
Other		4,250	4,260
Total current		126,465	99,380
Non-current
Mining royalties, interests and penalties 2009-Sept. 2011 (b)	[2]	248,537	362,464
Excess of salaries limit of workers profit sharing		36,855	17,260
Total other accounts payable		$ 285,392	$ 379,724
[1]	December 31, 2020    December 31, 2019US$(000)US$(000)CurrentRoyalties and mining taxes in dispute (a)  87,499  95,120Income tax assessment (b) 34,716 —Other  4,250  4,260Total current  126,465  99,380Non-currentRoyalties and mining taxes in dispute (a)  248,537  362,464Excess of salaries limit of workers profit sharing (c) 36,855 17,260Total non-current  285,392  379,724The balance as of December 31, 2020, corresponds to the remaining balance from the monthly payments of the installment programs for disputed mining royalties for the period January 2009 through September 2011 and for the years 2012 and 2013 and special mining tax for the period October 2011 through December 2013, totaling US$336.0 million (US$457.6 million as of December 31, 2019), including interest and penalties of US$186.5 million (US$256.1 million as of December 31, 2019) (see Note 13(d)).Corresponds to interest and penalties related to income tax assessments for the year 2013, which will be paid in the first quarter of 2021.
[2]	As of December 31, 2020, represents the excess salaries limit in workers profit sharing to be transferred to the Regional Government and the National Fund for Employment’s Promotion and Training (FONDOEMPLEO). This is related to adjustments of previous years income tax assessments (recognized in 2020 mainly as a result of the international arbitration proceeding initiated by the Company (see Note 13(d)).This amount includes interest of US$16.6 million.

Other accounts payable - Additi

Other accounts payable - Additional information (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other accounts payable [Line Items]
Current portion of monthly payments of disputed mining royalties	$ 336	$ 457.6
Current portion of monthly payments of interest and penalties of disputed mining royalties	186.5	$ 256.1
Non-current portion of monthly payments of interest and penalties of disputed mining royalties	$ 16.6

Other Financial Liabilities (_3

Other Financial Liabilities (debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current debt:
Lease liabilities (a)	$ 3,609	$ 3,692
Non-current debt:
Lease liabilities (a)	4,230	3,811
Less : Debt issuance cost	(3,205)	(3,124)
Total non-current financial liabilities	506,567	305,996
Sociedad Minera El Brocal S.A.A
Current debt:
Lease liabilities (a)	10,223	8,855
Non-current debt:
Senior unsecured credit facility (a)	525,000	830,000
Lease liabilities (a)	68,994	76,944
Less : Debt issuance cost	(1,549)	(4,124)
Total non-current financial liabilities	592,445	902,820
Total other financial liabilities	$ 602,668	$ 911,675	$ 1,118,538

Other Financial Liabilities (_4

Other Financial Liabilities (debt) - Movement of the changes derived from the financing activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Other Financial Liabilities debt [Line Items]
Cash flows from (used in) financing activities	$ (35,258)	$ (100,618)	$ (74,052)
Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities	911,675	1,118,538
Additions	3,328	550
Payments	(314,376)	(210,479)
Long term to short term transfers	0	0
Others change in other financial liabilities	2,041	3,066
Other financial liabilities	602,668	911,675	1,118,538
Leases, Current [Member] | Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities	8,855	8,119
Additions	1,477	464
Payments	(9,376)	(10,479)
Long term to short term transfers	9,402	10,751
Others change in other financial liabilities	(135)	0
Other financial liabilities	10,223	8,855	8,119
Noncurrent, Leases [Member] | Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities	76,944	87,609
Additions	1,851	86
Payments	0	0
Long term to short term transfers	(9,402)	(10,751)
Others change in other financial liabilities	(399)	0
Other financial liabilities	68,994	76,944	87,609
Senior unsecured credit facility [Member] | Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities	830,000	1,030,000
Additions	0	0
Payments	(305,000)	(200,000)
Long term to short term transfers	0	0
Others change in other financial liabilities	0	0
Other financial liabilities	525,000	830,000	1,030,000
Debt issuance cost [Member] | Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Other financial liabilities	4,124	7,190
Additions	0	0
Payments	0	0
Long term to short term transfers	0	0
Others change in other financial liabilities	2,575	3,066
Other financial liabilities	$ 1,549	$ 4,124	$ 7,190

Other Financial Liabilities (_5

Other Financial Liabilities (debt) - Lease liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Other Financial Liabilities debt [Line Items]
Balance at beginning of the year	$ 7,503
Balance at end of the year	7,839	$ 7,503
Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Balance at beginning of the year	85,799	95,728
Additions	3,328	550
Accrued interest	4,875	5,242
Payments	(9,376)	(10,479)
Interest payments	(4,875)	(5,242)
Exchange rate effect	(534)
Balance at end of the year	79,217	85,799
Depreciation charge of right-of-use assets, see Note 15	11,320	11,488
Expense relating to variable lease payments, low-value and short-term leases, see Note 15	7,399	7,069
Amounts recognized in profit or los	$ 23,594	$ 23,799

Other Financial Liabilities (_6

Other Financial Liabilities (debt) - Additional information (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Jun. 30, 2017	Mar. 31, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Other Financial Liabilities debt [Line Items]
Repayments of borrowings, classified as financing activities			$ 7,197	$ 95,000	$ 95,000
Write off debt issuance costs			900
Extinguishment debt issuance cost				1,300	1,900
Senior unsecured credit facility [Member]
Disclosure Of Other Financial Liabilities debt [Line Items]
Borrowings	$ 1,500,000
Repayments of borrowings, classified as financing activities			975,000	305,000
Increased in Credit Facility	$ 225,000
Interest expense			$ 22,400	39,100	$ 49,600
Citi bank [Member] | Senior unsecured credit facility [Member]
Disclosure Of Other Financial Liabilities debt [Line Items]
Notional amount		$ 1,800,000
Term of credit facility		5 years
Sociedad Minera El Brocal S.A.A
Disclosure Of Other Financial Liabilities debt [Line Items]
Borrowings, interest rate basis			Interest on the credit facility is based on the London Interbank Offered Rate (LIBOR) plus a spread (currently 1.9%) based on the Company´s total net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio, as defined in the agreement.
Description of amortization of credit facility			The credit facility calls for amortization in four installments, with 15% of the total facility due on December 31, 2020 (fully repaid as of December 31, 2020), 15% due on June 30, 2021 (fully repaid as of December 31, 2020), 35% due on December 31, 2021 (fully repaid as of December 31, 2020) and 35% due on June 19, 2022 (US$525 million).
Write off debt issuance costs			$ 1,700	1,800
Extinguishment debt issuance cost			$ 900	$ 1,300

Provisions, contingent liabil_3

Provisions, contingent liabilities and other liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of provisions [Line Items]
Balance at beginning of the year	$ 294,507
Changes (additions and deductions)	50,798
Accretion expense	6,848
Disbursements	(26,722)
Sale of mining unit	(5,093)
Balance at end of the year	320,338	$ 294,507
Classification by maturity [Abstract]
Current portion	68,000	72,771
Non-current portion	252,338	221,736
Closure Of Mining Units And Exploration Projects [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	252,305
Changes (additions and deductions)	32,200
Accretion expense	6,848
Disbursements	(8,571)	(16,882)
Sale of mining unit	(5,093)
Balance at end of the year	277,689	252,305
Classification by maturity [Abstract]
Current portion	32,462	35,280
Non-current portion	245,227	217,025
Bonus To Employees And Officers [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	19,226
Changes (additions and deductions)	13,106
Accretion expense	0
Disbursements	(15,119)
Sale of mining unit	0
Balance at end of the year	17,213	19,226
Environmental Liabilities [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	6,305
Changes (additions and deductions)	(211)
Accretion expense	0
Disbursements	(1,056)
Sale of mining unit	0
Balance at end of the year	5,038	6,305
Safety Contingencies [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	5,205
Changes (additions and deductions)	(598)
Accretion expense	0
Disbursements	(71)
Sale of mining unit	0
Balance at end of the year	4,536	5,205
Labor Contingencies [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	3,777
Changes (additions and deductions)	442
Accretion expense	0
Disbursements	(139)
Sale of mining unit	0
Balance at end of the year	4,080	3,777
Obligations With Communities [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	3,509
Changes (additions and deductions)	96
Accretion expense	0
Disbursements	0
Sale of mining unit	0
Balance at end of the year	3,605	3,509
Tax contingencies
Disclosure of provisions [Line Items]
Balance at beginning of the year	382
Changes (additions and deductions)	2,728
Accretion expense	0
Disbursements	0
Sale of mining unit	0
Balance at end of the year	3,110	382
Environmental contingencies
Disclosure of provisions [Line Items]
Balance at beginning of the year	1,500
Changes (additions and deductions)	1,640
Disbursements	(266)
Balance at end of the year	2,874	1,500
Board of Directors' participation [Member]
Disclosure of provisions [Line Items]
Balance at beginning of the year	1,594
Changes (additions and deductions)	1,493
Accretion expense	0
Disbursements	(1,500)
Sale of mining unit	0
Balance at end of the year	1,587	1,594
Workers' profit sharing payable
Disclosure of provisions [Line Items]
Balance at beginning of the year	69
Changes (additions and deductions)	57
Accretion expense	0
Disbursements	0
Sale of mining unit	0
Balance at end of the year	126	69
Other Provisions
Disclosure of provisions [Line Items]
Balance at beginning of the year	635
Changes (additions and deductions)	(155)
Accretion expense	0
Disbursements	0
Sale of mining unit	0
Balance at end of the year	$ 480	$ 635

Provisions, contingent liabil_4

Provisions, contingent liabilities and other liabilities - Provision classification (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Classification by maturity [Abstract]
Current provisions	$ 68,000	$ 72,771
Non-current Portion	252,338	221,736
Provision for remediation and mine closure [Member]
Non-current provisions [abstract]
Other non-current provisions	237,543	195,900	$ 131,888
Classification by maturity [Abstract]
Non-current portion	237,543	195,900	131,888
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Provision for closure of mining units and exploration projects	1,738,428	1,608,380	1,294,464	$ 1,234,731
Provision for social responsibility	16,609	18,326	$ 18,010	$ 21,689
Accrual of operating costs	15,938	11,238
Workers' profit sharing payable	17,311	12,793
Provisions for Accruals Of Capital Expenditures	20,147	8,139
Total	7,352	6,162
Provisions	1,762,389	1,632,868
Provisions, Other Accruals And Liabilities	1,762,389	1,632,868
Provisions for Accruals Of Capital Expenditures	20,147	8,139
Non-current provisions [abstract]
Other non-current provisions	1,660,603	1,587,551
Classification by maturity [Abstract]
Current provisions	101,786	45,317
Provisions	1,762,389	1,632,868
Non-current portion	1,660,603	1,587,551
Total	7,352	6,162
Sociedad Minera Cerro Verde Saa [Member]
Current provisions [abstract]
Other current provisions	9,625	7,918
Non-current provisions [abstract]
Other non-current provisions	307,974	278,419
Classification by maturity [Abstract]
Current portion	9,625	7,918
Non-current portion	307,974	278,419
Sociedad Minera Cerro Verde Saa [Member] | Provision for social commitments [Member]
Current provisions [abstract]
Other current provisions	9,469	7,677
Non-current provisions [abstract]
Other non-current provisions	1,226	3,046
Classification by maturity [Abstract]
Current portion	9,469	7,677
Non-current portion	1,226	3,046
Sociedad Minera Cerro Verde Saa [Member] | Provision for remediation and mine closure [Member]
Current provisions [abstract]
Other current provisions	156	241
Non-current provisions [abstract]
Other non-current provisions	237,387	195,659
Classification by maturity [Abstract]
Current portion	156	241
Non-current portion	237,387	195,659
Sociedad Minera Cerro Verde Saa [Member] | Provision for disputed mining royalties (c )
Non-current provisions [abstract]
Other non-current provisions	44,982	62,797
Classification by maturity [Abstract]
Non-current portion	44,982	62,797
Sociedad Minera Cerro Verde Saa [Member] | Provision for legal contingencies [member]
Non-current provisions [abstract]
Other non-current provisions	1,924	4,800
Classification by maturity [Abstract]
Non-current portion	1,924	4,800
Sociedad Minera Cerro Verde Saa [Member] | Miscellaneous other provisions [member]
Classification by maturity [Abstract]
Non-current Portion	$ 22,455	$ 12,117

Provisions, contingent liabil_5

Provisions, contingent liabilities and other liabilities - Movement of the provision for closure of mining units (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provisions and contingent liabilities
Reversal of impairment loss	$ 2,083	$ (2,083)	$ 5,693
Sale of mining unit	(5,093)
Disbursements	(26,722)
Classification by maturity
Current portion				$ 68,000	$ 72,771
Non-current portion				252,338	221,736
Closure Of Mining Units And Exploration Projects [Member]
Provisions and contingent liabilities
Beginning balance	252,305	225,877
Continuing mining units, note 11(a)	31,500	26,722
Discontinued mining units, note	58	1,912
Exploration projects, note 26(a)	642	4,020
Continuing mining units, note 27(a)	6,424	10,266
Discontinued mining units, note 1(e)	176	266
Exploration projects, note 27(a)	248	124
Sale of mining unit	(5,093)
Disbursements	(8,571)	(16,882)
Final balance	277,689	252,305	225,877
Classification by maturity
Current portion				32,462	35,280
Non-current portion				245,227	217,025
Provision for closure of mining units and exploration projects	277,689	252,305	225,877	277,689	252,305	$ 225,877
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Beginning balance	1,608,380	1,294,464	1,234,731
Additional provisions	120,655	301,096	43,560
Payments	(22,656)	(23,889)	(19,842)
Unwinding of discount, note 19	32,049	36,709	36,015
Final balance	1,738,428	1,608,380	1,294,464
Classification by maturity
Current portion				92,706	39,156	19,325
Non-current portion				1,645,722	1,569,224	1,275,139
Provision for closure of mining units and exploration projects	$ 1,738,428	$ 1,608,380	$ 1,294,464	$ 1,738,428	$ 1,608,380	$ 1,294,464

Provisions, contingent liabil_6

Provisions, contingent liabilities and other liabilities - Provision for remediation and mine closure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Provisions and contingent liabilities
Changes in estimates, Note 7	$ 37,600	$ 60,000
Provision for remediation and mine closure [Member]
Provisions and contingent liabilities
Beginning balance	195,900	131,888
Accretion expense	4,196	4,048
Additions, Note 7	37,569	59,964
Progressive mine closure payments in hydrometallurgy process	(122)
Final balance	237,543	195,900
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Beginning balance	1,587,551
Final balance	1,660,603	1,587,551
Sociedad Minera Cerro Verde Saa [Member]
Provisions and contingent liabilities
Beginning balance	278,419
Final balance	307,974	278,419
Sociedad Minera Cerro Verde Saa [Member] | Provision for remediation and mine closure [Member]
Provisions and contingent liabilities
Beginning balance	195,659
Final balance	$ 237,387	$ 195,659

Provisions and contingent liabi

Provisions and contingent liabilities - Movement of provision - Caption - Minera (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Provisions [abstract]
Provision for closure of mining units and exploration projects	$ 1,738,428	$ 1,608,380	$ 1,294,464	$ 1,234,731
Provision for social responsibility	16,609	18,326	$ 18,010	$ 21,689
Other provisions	7,352	6,162
Provisions	1,762,389	1,632,868
Other Accruals And Liabilities [Abstract]
Workers' profit sharing payable	17,311	12,793
Accrual of operating costs	15,938	11,238
Provisions for Accruals Of Capital Expenditures	20,147	8,139
Provisions, Other Accruals And Liabilities	1,762,389	1,632,868
Classification by maturity [Abstract]
Current portion	101,786	45,317
Non-current portion	1,660,603	1,587,551
Provisions, other accruals and liabilities	$ 1,762,389	$ 1,632,868

Provisions and contingent lia_2

Provisions and contingent liabilities - Movement of the provision for social responsibility (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provisions and contingent liabilities
Opening balance	$ 18,326	$ 18,010	$ 21,689
Additional provisions		888
Payments	(6)	(572)	(3,679)
Corrections	(1,711)
Ending balance	16,609	18,326	18,010
Classification by maturity [Abstract]
Current portion	1,728	761	8,351
Non-current portion	14,881	17,565	9,659
Ending balance	$ 16,609	$ 18,326	$ 18,010

Provisions, contingent liabil_7

Provisions, contingent liabilities and other liabilities - Additional information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Dec. 31, 2017USD ($)
Provisions and contingent liabilities
Current provisions		$ 72,771			$ 68,000
Provision for closure of mining units and exploration projects at future value		$ 252,300			309,300
Period Used To Reflect Time Value Of Money For Provisions		22 years
Letter of credit		$ 121,400		S/ 1,780,126,238	$ 140,000
Annual risk free rate				1.56%	1.56%
Increase (decrease) through transfers and other changes, other provisions	$ 37,600	$ 60,000
Minimum
Provisions and contingent liabilities
Discount rate used to reflect time value of money for provisions		1.79%		0.31%	0.31%
Period Used To Reflect Time Value Of Money For Provisions	1 year	1 year
Maximum
Provisions and contingent liabilities
Discount rate used to reflect time value of money for provisions		3.12%		2.77%	2.77%
Period Used To Reflect Time Value Of Money For Provisions	20 years
Provision for remediation and mine closure [Member]
Provisions and contingent liabilities
Other non-current provisions		$ 195,900	$ 131,888		$ 237,543
Future value of non current provisions		$ 374,400			374,400
Annual risk free rate		2.28%
Provision for disputed mining royalties (c )
Provisions and contingent liabilities
Interest and penalties associated with income tax related to disputed mining royalties					45,000
Miscellaneous other provisions [member]
Provisions and contingent liabilities
Provision for unfavorable results from SUNAT assessments		$ 3,800			9,600
Interest and penalties associated with SUNAT		4,300			12,900
Provision for royalties and mining tax [Member]
Provisions and contingent liabilities
Interest and penalties associated with income tax related to disputed mining royalties		42,100
Interest and penalties associated with ITAN		6,700
Interest and penalties associated with SRF		1,900
Net asset tax included in provisions		12,100
La Joya [Member] | Irrigation Project [Member] | Provision for social commitments [Member]
Provisions and contingent liabilities
Other provisions					4,400
Alata-Congata Road [Member] | Repaving Project [Member] | Provision for social commitments [Member]
Provisions and contingent liabilities
Other provisions					6,300
Minera Yanacocha SRL and subsidiary [Member]
Provisions and contingent liabilities
Current provisions		45,317			101,786
Provision for closure of mining units and exploration projects		1,608,380	1,294,464		1,738,428	$ 1,234,731
Employee's profit share on annual taxable income	8.00%
Other provisions		6,162			7,352
Other non-current provisions		1,587,551			1,660,603
Increase in reclamation liability	$ 121,000	301,000	44,000
Increase in recorded asset retirement cost	4,000	159,000	27,200
Non-cash charge to reclamation expense	$ 124,000	$ 142,000	$ 16,300
Minera Yanacocha SRL and subsidiary [Member] | Minimum
Provisions and contingent liabilities
Discount rates used in the calculation of the provision	0.40%	0.40%	0.40%
Minera Yanacocha SRL and subsidiary [Member] | Maximum
Provisions and contingent liabilities
Discount rates used in the calculation of the provision	6.00%	6.00%	6.00%
Sociedad Minera Cerro Verde Saa [Member]
Provisions and contingent liabilities
Other non-current provisions		$ 278,419			307,974
Sociedad Minera Cerro Verde Saa [Member] | Provision for social commitments [Member]
Provisions and contingent liabilities
Other non-current provisions		3,046			1,226
Sociedad Minera Cerro Verde Saa [Member] | Provision for remediation and mine closure [Member]
Provisions and contingent liabilities
Other non-current provisions		195,659			237,387
Sociedad Minera Cerro Verde Saa [Member] | Provision for disputed mining royalties (c )
Provisions and contingent liabilities
Other non-current provisions		$ 62,797			44,982
Sociedad Minera Cerro Verde Saa [Member] | Ministry of Energy and Mines [Member]
Provisions and contingent liabilities
Letter of credit					$ 59,400

Debt instruments (Details)

Debt instruments (Details) - USD ($) $ in Thousands	Jun. 14, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument Held [LineItems]
Number of shares issued		350,056,012
Equity		$ 2,799,857	$ 2,968,200	$ 3,029,565	$ 3,063,627
Minera Yanacocha SRL and subsidiary [Member]
Debt Instrument Held [LineItems]
Number of shares issued	63,922,565
Subsidiary Sale Of Stock Value	$ 47,911
Escrow Deposits		48,752	48,617
Fair Value of Subsidiary Sale of Stock	41,695
Equity	$ 6,216	324,386	489,712	583,723	$ 659,115
Subsidiary Sale of Stock Outstanding Amount		45,423	43,927
Unwinding of discount of debt instruments		$ 1,497	$ 1,497	$ 1,497
Sumitomo [Member] | Minera Yanacocha SRL and subsidiary [Member]
Debt Instrument Held [LineItems]
Proportion of ownership interest in subsidiary	5.00%
Newmont [Member]
Debt Instrument Held [LineItems]
Proportion of ownership interest in subsidiary	51.35%
Buenaventura
Debt Instrument Held [LineItems]
Proportion of ownership interest in subsidiary	43.65%

Financial obligations (Details)

Financial obligations (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Oct. 29, 2019	Dec. 31, 2018	Oct. 29, 2018	Dec. 31, 2016	Jun. 27, 2016	Jun. 30, 2014
Disclosure of Financial obligations [Line Items]
Financial liabilities	$ 531,653,000	$ 571,688,000		$ 587,062,000		$ 633,083,000
Classification by maturity:
Current portion	25,086,000	265,692,000
Non-current portion (e)	506,567,000	305,996,000
Lease liabilities	7,839,000	7,503,000
Financial Liabilities	531,653,000	571,688,000		$ 587,062,000		$ 633,083,000
Sociedad Minera El Brocal S.A.A
Disclosure of Financial obligations [Line Items]
Notional amount	139,709,000	161,185,000
Compaa de Minas Buenaventura S.A.A. [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	275,000,000	275,000,000					$ 275,000,000
Debt issuance costs	2,715,000	2,504,000
Borrowings	272,285,000	272,496,000
Classification by maturity:
Lease liabilities	111,820,000	130,504,000
BBVA Banco Continental S.A. [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	61,667,000	61,667,000
BBVA Banco Continental S.A. [Member] | Contacto Corredores de Seguros S.A. [Member]
Classification by maturity:
Lease liabilities	7,839,000	7,503,000
CorpBanca New York Branch [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	61,666,000	61,666,000
Banco Internacional del Peru [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	30,000,000	30,000,000
ICBC Peru Bank [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	40,000,000	25,000,000
Banco Latinoamericano de Comercio Exterior S.A. [Member]
Disclosure of Financial obligations [Line Items]
Notional amount		20,000,000
Banco de Sabadell, Miami Branch [Member]
Disclosure of Financial obligations [Line Items]
Notional amount	15,000,000	15,000,000
Banco De Credito Del Peru - New Financial Obligation [Member]
Disclosure of Financial obligations [Line Items]
Notional amount			$ 161,893,850
Banco De Credito Del Peru - New Financial Obligation [Member] | Sociedad Minera El Brocal S.A.A
Disclosure of Financial obligations [Line Items]
Notional amount	140,309,000	161,894,000
Debt issuance costs	600,000	709,000
Banco de Credito del Peru [member]
Disclosure of Financial obligations [Line Items]
Notional amount	66,667,000	61,667,000			$ 119,000,000			$ 103,373,000
Banco de Credito del Peru [member] | Sociedad Minera El Brocal S.A.A
Disclosure of Financial obligations [Line Items]
Debt issuance costs	1,276,000
Classification by maturity:
Finance Lease Liabilities IAS17	$ 113,096,000	$ 130,504,000

Financial obligations - Long-te

Financial obligations - Long-term portion of the financial obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Financial obligations [Line Items]
Gross non current financial liabilities	$ 509,772	$ 309,120
Debt issuance costs	3,205	3,124
Non-current financial liabilities	506,567	305,996
Between 1 to 2 years
Disclosure of Financial obligations [Line Items]
Gross non current financial liabilities	176,665	133,091
Later than one year and not later than five years [member]
Disclosure of Financial obligations [Line Items]
Gross non current financial liabilities	327,036	127,463
More than 5 years
Disclosure of Financial obligations [Line Items]
Gross non current financial liabilities	$ 6,071	$ 48,566

Financial obligations - Total f

Financial obligations - Total financial obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial obligations
Beginning balance	$ 571,688	$ 587,062
New financial obligations	0	161,894	$ 0
New lease obligations	5,213	19,885	0
Disposals of lease obligations	(977)	(5,079)	0
Payments of financial obligations	(38,994)	(186,152)	(45,222)
Payments of obligations for leases	(4,080)	(7,596)	0
Amortization of debt issuance costs in results, note 27(a)	976	2,109	1,024
Accretion expense for leases related to rights in use, nota 27(a)	180	293	0
Effect of amortized cost, note 27(a)	(361)	0	0
Increase of debt issuance costs	(1,992)	(728)	(2,207)
Other minor			384
Final balance	$ 531,653	$ 571,688	$ 587,062

Financial obligations - Lease l

Financial obligations - Lease liabilities related to right in use (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
Disclosure of Financial obligations [Line Items]
Lease liabilities	$ 7,839	$ 7,503
Current portion	3,609	3,692
Non-current portion	$ 4,230	3,811
Lease term	10 years
Number of renewal options | item	2
Lease renewal term	5 years
Future minimum rentals payable	$ 3,697	5,167
Less than 1 year
Disclosure of Financial obligations [Line Items]
Future minimum rentals payable	1,470	1,470
Later than one year and not later than five years [member]
Disclosure of Financial obligations [Line Items]
Future minimum rentals payable	2,227	3,697
Buildings and other constructions
Disclosure of Financial obligations [Line Items]
Lease liabilities	3,971	5,296
Transportation units
Disclosure of Financial obligations [Line Items]
Lease liabilities	3,186	1,429
Machinery and equipment
Disclosure of Financial obligations [Line Items]
Lease liabilities	$ 682	$ 778

Financial obligations - Additio

Financial obligations - Additional information (Details)

Oct. 29, 2020USD ($)

Jul. 30, 2020USD ($)

Apr. 30, 2020USD ($)

Oct. 29, 2019USD ($)

Jun. 27, 2016USD ($)

Jun. 30, 2014USD ($)

Apr. 30, 2020

Apr. 30, 2018

Jun. 27, 2016USD ($)

Jun. 30, 2014USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2018USD ($)

Oct. 29, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 02, 2009USD ($)

Disclosure of Financial obligations [Line Items]

Bank loans

$ 55,000,000

$ 65,793,000

$ 95,000,000

$ 95,000,000

Equity

$ 2,968,200,000

$ 2,799,857,000

$ 3,029,565,000

$ 3,063,627,000

Minimum

Disclosure of Financial obligations [Line Items]

Borrowings, interest rate

2.00%

1.65%

Maximum

Disclosure of Financial obligations [Line Items]

Borrowings, interest rate

2.95%

3.70%

LIBOR

Disclosure of Financial obligations [Line Items]

Borrowings, adjustment to interest rate basis

2.15%

Spread on variable interest rate

2.15%

Compaa de Minas Buenaventura S.A.A. [Member]

Disclosure of Financial obligations [Line Items]

Notional amount

$ 275,000,000

$ 275,000,000

$ 275,000,000

$ 275,000,000

Borrowings, interest rate basis

Three-month LIBOR plus 3%

Borrowings, adjustment to interest rate basis

3.00%

3.00%

Borrowings, maturity

June 30, 2021

Borrowings Modified Repayment Terms

six semiannual installments

Borrowings Periodic Repayment Amount

$ 39,285,714

$ 39,285,714

Final installment

$ 39,285,716

Grace Period

2 years

Spread on variable interest rate

3.00%

3.00%

Compaa de Minas Buenaventura S.A.A. [Member] | Minimum

Disclosure of Financial obligations [Line Items]

Debt service coverage ratio

4

Equity

$ 2,711

$ 2,711

Compaa de Minas Buenaventura S.A.A. [Member] | Maximum

Disclosure of Financial obligations [Line Items]

Leverage ratio

3

Banco De Credito Del Peru - New Financial Obligation [Member]

Disclosure of Financial obligations [Line Items]

Notional amount

$ 161,893,850

Bank loans

10,793,000

Deferred periodic payment

$ 5,396,000

$ 5,396,000

Banco De Credito Del Peru - New Financial Obligation [Member] | Minimum

Disclosure of Financial obligations [Line Items]

Debt service coverage ratio

1.3

Banco De Credito Del Peru - New Financial Obligation [Member] | Maximum

Disclosure of Financial obligations [Line Items]

Leverage ratio

1

Indebtedness ratio

2.25

Banco De Credito Del Peru - New Financial Obligation Maturing on October 2024 [Member]

Disclosure of Financial obligations [Line Items]

Notional amount

$ 113,325,695

Borrowings, interest rate

3.76%

Borrowings, maturity

October 2024

Banco De Credito Del Peru - New Financial Obligation Maturing on October 2026 [Member]

Disclosure of Financial obligations [Line Items]

Notional amount

$ 48,568,155

Borrowings, interest rate basis

Three-month LIBOR plus 2.39 percent

Borrowings, adjustment to interest rate basis

2.39%

Borrowings, maturity

October 2026

Spread on variable interest rate

2.39%

Banco de Credito del Peru [member]

Disclosure of Financial obligations [Line Items]

Notional amount

$ 103,373,000

$ 103,373,000

$ 61,667,000

$ 66,667,000

$ 119,000,000

Borrowings, interest rate basis

LIBOR 30 days plus 2.10 percent (three -month LIBOR plus 2.75 percent

LIBOR 30 days plus 2.10 percent (three -month LIBOR plus 2.75 percent

Borrowings, adjustment to interest rate basis

2.75%

2.75%

2.75%

Borrowings, maturity

November 2020

November 2020

Final installment

$ 44,191,000

$ 68,905,000

$ 68,905,000

$ 44,191,000

Spread on variable interest rate

2.75%

2.75%

2.75%

Banco de Credito del Peru [member] | Minimum

Disclosure of Financial obligations [Line Items]

Debt service coverage ratio

1.1

Equity

$ 30,000,000

Syndicated Term Loan

Disclosure of Financial obligations [Line Items]

Term of debt

5 years

4 years

Number of semi-annual installments

41,200,000

Periodic payment

$ 55,000,000

Final payment

$ 68,750,000

Syndicated Term Loan | LIBOR

Disclosure of Financial obligations [Line Items]

Borrowings, adjustment to interest rate basis

1.90%

Spread on variable interest rate

1.90%

Shareholders' equity, net - Cap

Shareholders' equity, net - Capital stock (Details) S/ in Thousands, $ in Thousands	Dec. 31, 2020PEN (S/)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)
Disclosure of Shareholders' equity, net [Line Items]
Number of shares	(350,056,012)	(350,056,012)
Capital stock | $		$ (750,497)	$ (750,497)
Common shares [member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares	(274,889,924)	(274,889,924)
Capital stock	S/ (2,748,899)	$ (813,162)
Treasury shares [member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares	(21,174,734)	(21,174,734)
Capital stock	S/ (211,747)	$ (62,665)
Total Shares [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares	(253,715,190)	(253,715,190)
Capital stock	S/ (2,537,152)	$ (750,497)

Shareholders' equity, net - Inv

Shareholders' equity, net - Investment shares (Details) S/ in Thousands, $ in Thousands	Dec. 31, 2020PEN (S/)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)
Disclosure of Shareholders' equity, net [Line Items]
Number of shares outstanding	350,056,012	350,056,012
Investment shares | $		$ 791	$ 791
Total investment shares [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares outstanding	271,677	271,677
Investment shares	S/ 2,717	$ 791
Other reserves of equity [member] | investment shares [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares outstanding	744,640	744,640
Investment shares	S/ 7,447	$ 2,161
Other reserves of equity [member] | Treasury investment shares [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shares outstanding	472,963	472,963
Investment shares	S/ (4,730)	$ (1,370)

Shareholders' equity, net - Div

Shareholders' equity, net - Dividends declared and paid (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid	$ (5,140)	$ (28,598)	$ (28,420)
Dividend 2019 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		(22,098)
Dividend 2019 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		(15,240)
Dividend 2019 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		(6,858)
Dividends 2018 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			(22,860)
Dividends 2018 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			(7,621)
Dividends 2018 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			(15,239)
Common shares [member] | Dividend 2019 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		$ (16,538)
Dividends paid, ordinary shares per share		$ 0.06
Common shares [member] | Dividend 2019 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		$ (7,442)
Dividends paid, ordinary shares per share		$ 0.03
Common shares [member] | Dividends 2018 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			$ (8,269)
Dividends paid, ordinary shares per share			$ 0.030
Common shares [member] | Dividends 2018 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			$ (16,538)
Dividends paid, ordinary shares per share			$ 0.060
Treasury shares [member] | Dividend 2019 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		$ (1,298)
Treasury shares [member] | Dividend 2019 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid		$ (584)
Treasury shares [member] | Dividends 2018 [Member] | Annual General Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			$ (648)
Treasury shares [member] | Dividends 2018 [Member] | Directors Meeting [Member]
Disclosure of Shareholders' equity, net [Line Items]
Dividends declared and paid			$ (1,299)

Shareholders' equity, net - Pro

Shareholders' equity, net - Profit (loss) per share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Shareholders' equity, net [Line Items]
Loss for the year (numerator)	$ (135,718,000)	$ (12,208,000)	$ (13,445,000)
Loss for the year (numerator)	$ (155,748,000)	$ (17,945,000)	$ 154,000
Total common and investment shares (denominator)	253,986,867	253,986,867	253,986,867
Loss per basic share and diluted	$ (0.53)	$ (0.05)	$ (0.05)
Loss per basic share and diluted	$ (0.56)	$ (0.01)	$ (0.02)
Continuing operations
Disclosure of Shareholders' equity, net [Line Items]
Loss for the year (numerator)	$ (141,135,000,000)	$ (1,694,000,000)	$ (1,637,000,000)
Total common and investment shares (denominator)	253,986,867	253,986,867	253,986,867
Loss per basic share and diluted	$ (0.56)	$ (0.01)	$ (0.02)

Shareholders' equity, net - C_2

Shareholders' equity, net - Capital stock structure (Details) - Sociedad Minera Cerro Verde S.A.A. [Member]	12 Months Ended
	Dec. 31, 2020shareholder
Disclosure of Shareholders' equity, net [Line Items]
Number of shareholders	2,848
Percentage of equity interest	100.00%
Up to 1.00 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shareholders	2,844
Percentage of equity interest	4.39%
From 1.01 to 20.00 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shareholders	2
Percentage of equity interest	21.05%
From 20.01 to 30.00 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shareholders	1
Percentage of equity interest	21.00%
From 30.01 to 60.00 [Member]
Disclosure of Shareholders' equity, net [Line Items]
Number of shareholders	1
Percentage of equity interest	53.56%

Shareholders' equity, net - Par

Shareholders' equity, net - Partners' equity (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 21, 2017	Dec. 31, 2020	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2019	Dec. 31, 2018	Jun. 14, 2018	Feb. 19, 2018
Disclosure Of Partners Equity Net LineItems [Line Items]
Number of shares issued and fully paid					656,484,745	656,484,745
Subsidiary Sale Of Stock Shares Approved For Reduction								63,922,565
Subsidiary Sale Of Stock Shares Approved For Sale							63,922,565
Applicable Dividend Distribution Tax Rate			5.00%	6.80%
Treasury shares [member]
Disclosure Of Partners Equity Net LineItems [Line Items]
Number of shares purchased	63,922,565
Payments to acquire or redeem entity's shares	$ 47,911
Percentage of stock purchased	5.00%
Common shares [member]
Disclosure Of Partners Equity Net LineItems [Line Items]
Number of shares issued and fully paid		1,214,528,739			1,214,528,739
Value of shares issued and fully paid		$ 398,216
Subsidiary sale of stock value approved for reduction								$ 19,711

Shareholders' equity, net - Add

Shareholders' equity, net - Additional information (Details)

Apr. 30, 2019

Mar. 29, 2019USD ($)$ / shares

Jan. 15, 2017

Dec. 31, 2020S/ / shares

Dec. 31, 2020USD ($)shares

Dec. 31, 2019USD ($)S/ / shares$ / shares

Dec. 31, 2019USD ($)$ / sharesshares

Dec. 31, 2018USD ($)shares

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2020USD ($)$ / sharesshares

Jun. 14, 2018shares

Dec. 31, 2009$ / shares

Jul. 11, 2003$ / shares

Disclosure of Shareholders' equity, net [Line Items]

Trading frequency

5.00%

25.00%

Par value per share | $ / shares

$ 2.83

$ 0.54

Increase in legal reserves | $

$ 26,000

$ 53,000

$ 44,000

Dividends declared to non controlling interest | $

$ 5,140,000

$ 6,500,000

$ 5,560,000

Total number of common and investment shares outstanding

253,986,867

253,986,867

253,986,867

Quoted price per equity share | $ / shares

$ 19.30

$ 19.30

$ 20.92

Number of shares outstanding

350,056,012

Number of shares authorised

350,056,012

Number of shares issued

350,056,012

Dividend Declared | $

$ 150,000,000

Dividend Declared Per Share | $ / shares

$ 0.428503

Withholding Taxes Percentage

4.10%

Minimum

Disclosure of Shareholders' equity, net [Line Items]

Other capital reserve, Percentage

10.00%

Maximum

Disclosure of Shareholders' equity, net [Line Items]

Other capital reserve, Percentage

20.00%

Changes in tax rates or tax laws enacted or announced [member]

Disclosure of Shareholders' equity, net [Line Items]

Withholding tax rate, Percent

5.00%

Common shares [member]

Disclosure of Shareholders' equity, net [Line Items]

Market price per share | S/ / shares

S/ 43.80

$ 47.77

Par value per share | S/ / shares

10

Number of shares outstanding

274,889,924

investment shares [Member]

Disclosure of Shareholders' equity, net [Line Items]

Market price per share | S/ / shares

16

Par value per share | S/ / shares

S/ 10.00

Minera Yanacocha SRL and subsidiary [Member]

Disclosure of Shareholders' equity, net [Line Items]

Number of shares issued

63,922,565

Applicable Dividend Distribution Tax Rate

5.00%

6.80%

Sociedad Minera Cerro Verde S.A.A. [Member]

Disclosure of Shareholders' equity, net [Line Items]

Other equity contributions | $

$ 10,100,000

$ 10,100,000

$ 8,900,000

$ 11,500,000

Subsidiaries with material no_3

Subsidiaries with material non-controlling interest (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Accumulated balances of material non-controlling interest:
Non-controlling interests	$ 172,397	$ 196,678	$ 221,237	$ 172,397
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(14,621)	(16,251)	1,791
Sociedad Minera El Brocal S.A.A
Accumulated balances of material non-controlling interest:
Non-controlling interests	144,501	161,917		144,501
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(12,895)	(13,432)	2,880
Minera La Zanja S.R.L. [Member]
Accumulated balances of material non-controlling interest:
Non-controlling interests	26,121	33,026		26,121
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(6,905)	(9,090)	(6,346)
S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Accumulated balances of material non-controlling interest:
Non-controlling interests	1,648	1,587		1,648
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	5,201	6,286	5,667
Apu Coropuna S.R.L. [Member]
Accumulated balances of material non-controlling interest:
Non-controlling interests	127	148		$ 127
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(22)	(14)	(410)
Other minor subsidiaries [Member]
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	0	(1)	0
Country of domicile [member] | Sociedad Minera El Brocal S.A.A
Equity interest held by non-controlling interests:
Proportion of ownership interests held by non-controlling interests				38.57%
Accumulated balances of material non-controlling interest:
Non-controlling interests	144,501	161,917	176,978	$ 144,501
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(12,895)	(13,432)	2,880
Country of domicile [member] | Minera La Zanja S.R.L. [Member]
Equity interest held by non-controlling interests:
Proportion of ownership interests held by non-controlling interests				46.94%
Accumulated balances of material non-controlling interest:
Non-controlling interests	26,121	33,026	42,295	$ 26,121
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(6,905)	(9,090)	(6,346)
Country of domicile [member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Equity interest held by non-controlling interests:
Proportion of ownership interests held by non-controlling interests				40.00%
Accumulated balances of material non-controlling interest:
Non-controlling interests	1,648	1,587	1,800	$ 1,648
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	5,201	6,286	5,667
Country of domicile [member] | Apu Coropuna S.R.L. [Member]
Equity interest held by non-controlling interests:
Proportion of ownership interests held by non-controlling interests				30.00%
Accumulated balances of material non-controlling interest:
Non-controlling interests	127	148	164	$ 127
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	(22)	(14)	(410)
Country of domicile [member] | Other minor subsidiaries [Member]
Profit (loss) allocated to material non-controlling interest:
Profit (loss), attributable to non-controlling interests	$ 0	$ (1)	$ 0

Subsidiaries with material no_4

Subsidiaries with material non-controlling interest - Statements of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Current assets	$ 589,152	$ 648,619
Non-current assets	3,390,465	3,458,655
Current liabilities	(360,436)	(565,357)
Non-current liabilities	(819,324)	(573,717)
Total shareholders' equity, net	2,799,857	2,968,200	$ 3,029,565	$ 3,063,627
Shareholders of the parent	2,627,460	2,771,522
Non-controlling interests	172,397	196,678	$ 221,237
Sociedad Minera El Brocal S.A.A
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Current assets	166,396	149,945
Non-current assets	553,754	576,028
Current liabilities	(170,896)	(118,965)
Non-current liabilities	(195,809)	(210,904)
Total shareholders' equity, net	353,445	396,104
Shareholders of the parent	208,944	234,187
Non-controlling interests	144,501	161,917
Minera La Zanja S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Current assets	104,076	112,420
Non-current assets	30,486	26,038
Current liabilities	(22,329)	(20,170)
Non-current liabilities	(56,587)	(47,930)
Total shareholders' equity, net	55,646	70,358
Shareholders of the parent	29,525	37,332
Non-controlling interests	26,121	33,026
S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Current assets	6,814	6,252
Non-current assets	0	0
Current liabilities	(2,694)	(2,286)
Non-current liabilities	0	0
Total shareholders' equity, net	4,120	3,966
Shareholders of the parent	2,472	2,379
Non-controlling interests	1,648	1,587
Apu Coropuna S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Current assets	2,064	2,141
Non-current assets	169	185
Current liabilities	(1,071)	(1,094)
Non-current liabilities	(740)	(740)
Total shareholders' equity, net	422	492
Shareholders of the parent	295	344
Non-controlling interests	$ 127	$ 148

Subsidiaries with material no_5

Subsidiaries with material non-controlling interest - Statements of profit or loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	$ 676,542	$ 867,888	$ 1,150,715
Net profit (loss)	(150,339)	(28,459)	(11,654)
Attributable to non-controlling interests	(14,621)	(16,251)	1,791
Sociedad Minera El Brocal S.A.A
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	255,275	299,252	332,298
Net profit (loss)	(31,541)	(32,855)	6,305
Attributable to non-controlling interests	(12,895)	(13,432)	2,880
Minera La Zanja S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	33,033	43,520	96,611
Net profit (loss)	(14,712)	(19,364)	(13,519)
Attributable to non-controlling interests	(6,905)	(9,090)	(6,346)
S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	18,638	22,297	20,385
Net profit (loss)	13,004	15,715	14,168
Attributable to non-controlling interests	5,201	6,286	5,667
Apu Coropuna S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	0	0	0
Net profit (loss)	(44)	(48)	(1,369)
Attributable to non-controlling interests	(22)	(14)	(410)
Other minor subsidiaries [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Sales of goods	0	0	0
Net profit (loss)	0	(17)	0
Attributable to non-controlling interests	$ 0	$ (1)	$ 0

Subsidiaries with material no_6

Subsidiaries with material non-controlling interest - Statements of cash flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Operating activities	$ (122,885)	$ (47,065)	$ (346,260)
Investing activities	(62,224)	(105,601)	(117,559)
Financing activities	(35,258)	(100,618)	(74,052)
Increase in cash and cash equivalents in the year	25,403	(159,154)	154,649
Sociedad Minera El Brocal S.A.A
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Operating activities	53,304	1,545	74,985
Investing activities	(24,699)	(28,259)	(29,546)
Financing activities	(1,954)	(405)	(29,974)
Increase in cash and cash equivalents in the year	26,651	(27,119)	15,465
Minera La Zanja S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Operating activities	(5,751)	(908)	10,323
Investing activities	(825)	(1,629)	(13,160)
Financing activities	0	(763)	0
Increase in cash and cash equivalents in the year	(6,576)	(3,300)	(2,837)
S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Operating activities	13,738	16,040	14,066
Investing activities	0	0	0
Financing activities	(12,850)	(16,250)	(13,900)
Increase in cash and cash equivalents in the year	888	(210)	166
Apu Coropuna S.R.L. [Member]
Disclosure Of Subsidiaries with material non-controlling interest [Line Items]
Operating activities	(74)	0	(572)
Investing activities	0	0	0
Financing activities	0	1,032	0
Increase in cash and cash equivalents in the year	$ (74)	$ 1,032	$ (572)

Tax situation - Income tax prov

Tax situation - Income tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income Tax Explanatory
Current income tax expense	$ 9,924	$ 11,911	$ 16,882
Deferred tax expense (income)	15,506	(37,501)	9,997
Income tax expense (benefit)	25,430	(25,590)	26,879
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Current Peruvian tax returns	51,197	42,978	12,701
Royalties and mining taxes	5,065	11,444	8,888
Income tax from prior years (refunds)/payments	(1,712)	8,459	8,269
Other taxes	1,363	993	510
Income tax prior years refunds	(2,895)	(3,002)	0
Fines from prior years	0	4,056	0
Current income tax expense	53,018	64,928	30,368
Deferred tax expense (income)	0	0	(1,071)
Income tax expense (benefit)	$ 53,018	$ 64,928	$ 29,297

Tax situation - Reconciliation

Tax situation - Reconciliation of tax expense (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income Tax Explanatory
Income (loss) before income tax		$ (130,318)	$ (43,535)	$ 27,033
Peruvian statutory tax rate	29.50%	32.00%	32.00%	32.00%
Income tax expense (income)		$ (23,716)	$ 25,766	$ (22,462)
Non-deductible expenses		(11,789)	(6,877)	(1,095)
Difference in income tax rate applicable to La Quinua at 29%		(31,853)	14,995	(15,248)
Total income tax		25,430	(25,590)	26,879
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Income (loss) before income tax		$ (112,431)	$ (30,329)	$ (52,220)
Peruvian statutory tax rate	29.50%	29.50%	29.50%	29.50%
Income tax expense (income)		$ (33,167)	$ (8,947)	$ (15,405)
Valuation allowance on deferred tax asset		57,131	46,473	23,771
Effect of change in income tax rate		23,075	(4,217)	0
Royalties and Mining taxes		5,065	11,444	8,888
Credit of Royalties and Mining taxes		(1,494)	(3,376)	(2,622)
Non-deductible expenses		7,015	13,837	6,572
Ruling on a tax case		(2,895)	(2,801)
Income tax prior years refunds		(1,712)	8,459	8,269
Difference in income tax rate applicable to La Quinua at 29%				(176)
Fines from prior years		0	4,056	0
Total income tax		$ 53,018	$ 64,928	$ 29,297

Tax situation - Summary of asse

Tax situation - Summary of assessments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	$ 294,610
Tax Assessments, penalties and interest expenses	442,302
Total	736,912
Year 2003 - 2005 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	8,780
Tax Assessments, penalties and interest expenses	39,700
Total	48,480
Year 2006 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	11,206
Tax Assessments, penalties and interest expenses	51,769
Total	62,975
Year 2007 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	12,821
Tax Assessments, penalties and interest expenses	21,177
Total	33,998
Year 2008 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	16,906
Tax Assessments, penalties and interest expenses	16,859
Total	33,765
Year 2009 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	56,000
Tax Assessments, penalties and interest expenses	51,606
Total	107,606
Year 2010 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	53,700
Tax Assessments, penalties and interest expenses	117,880
Total	171,580
Year 2011 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	41,063
Tax Assessments, penalties and interest expenses	67,932
Total	108,995
Year 2012 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	869
Tax Assessments, penalties and interest expenses	9,477
Total	10,346
Year 2013 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	48,401
Tax Assessments, penalties and interest expenses	65,902
Total	114,303
Year 2014-2020 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	44,864
Tax Assessments, penalties and interest expenses	0
Total	44,864
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	294,610
Tax Assessments, penalties and interest expenses	442,302
Total	736,912
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2003 - 2005 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	8,780
Tax Assessments, penalties and interest expenses	39,700
Total	48,480
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2006 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	11,206
Tax Assessments, penalties and interest expenses	51,769
Total	62,975
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2007 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	12,821
Tax Assessments, penalties and interest expenses	21,177
Total	33,998
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2008 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	16,906
Tax Assessments, penalties and interest expenses	16,859
Total	33,765
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2009 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	56,000
Tax Assessments, penalties and interest expenses	51,606
Total	107,606
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2010 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	53,700
Tax Assessments, penalties and interest expenses	117,880
Total	171,580
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2011 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	41,063
Tax Assessments, penalties and interest expenses	67,932
Total	108,995
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2012 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	869
Tax Assessments, penalties and interest expenses	9,477
Total	10,346
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2013 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	48,401
Tax Assessments, penalties and interest expenses	65,902
Total	114,303
Sociedad Minera Cerro Verde S.A.A. [Member] | Year 2014-2020 [Member]
Disclosure Of Income Tax Explanatory
Tax assessments, Estimated possible losses	44,864
Tax Assessments, penalties and interest expenses	0
Total	$ 44,864

Tax situation - Effect of tempo

Tax situation - Effect of temporary differences (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets [Abstract]
Deferred tax assets	$ 73,850	$ 74,556
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	38,319	28,959
Sociedad Minera Cerro Verde S.A.A. [Member]
Deferred tax assets [Abstract]
Deferred tax assets	254,083	152,997	$ 175,769
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	645,576	518,528	401,366
Deferred tax liabilities before supplementary retirement fund	391,493	365,531	225,597
Supplementary Retirement Fund [Abstract]
Supplementary retirement fund, deferred liability	4,581	4,258	2,651
Total deferred income tax liabilities, net	396,074	369,789	228,248
Sociedad Minera Cerro Verde S.A.A. [Member] | Royalty Accrual [Member]
Deferred tax assets [Abstract]
Deferred tax assets	83,570	84,546	109,505
Sociedad Minera Cerro Verde S.A.A. [Member] | Provision For Remediation And Mine Closure [Member]
Deferred tax assets [Abstract]
Deferred tax assets	19,937	17,309	15,131
Sociedad Minera Cerro Verde S.A.A. [Member] | Unpaid Vacations [Member]
Deferred tax assets [Abstract]
Deferred tax assets	7,015	6,618	5,937
Sociedad Minera Cerro Verde S.A.A. [Member] | Provision For Mining Taxes Deferred Tax Assets [Member]
Deferred tax assets [Abstract]
Deferred tax assets	6,124	3,737	4,120
Sociedad Minera Cerro Verde S.A.A. [Member] | SUNAT Assessments
Deferred tax assets [Abstract]
Deferred tax assets	0	0	4,055
Sociedad Minera Cerro Verde S.A.A. [Member] | Cost of net asset for the construction of the tailing dam [Member]
Deferred tax assets [Abstract]
Deferred tax assets	125,621	30,033	26,449
Sociedad Minera Cerro Verde S.A.A. [Member] | Development Costs [Member]
Deferred tax assets [Abstract]
Deferred tax assets	59	72	122
Sociedad Minera Cerro Verde S.A.A. [Member] | Leases [Member]
Deferred tax assets [Abstract]
Deferred tax assets	931	406
Sociedad Minera Cerro Verde S.A.A. [Member] | Other Provisions [Member]
Deferred tax assets [Abstract]
Deferred tax assets	10,826	10,276	10,450
Sociedad Minera Cerro Verde S.A.A. [Member] | Difference In Depreciation Method Deferred Tax Liabilities [Member]
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	545,636	458,307	361,453
Sociedad Minera Cerro Verde S.A.A. [Member] | Stripping Activity Asset [Member]
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	43,187	33,661	27,464
Sociedad Minera Cerro Verde S.A.A. [Member] | Difference In Valuation Of Inventories Deferred Tax Liabilities [Member]
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	18,479	14,885	16,605
Sociedad Minera Cerro Verde S.A.A. [Member] | Debt Issuance Costs [Member]
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	412	933	1,894
Sociedad Minera Cerro Verde S.A.A. [Member] | Embedded derivatives for price adjustment of copper concentrate and cathode
Deferred tax liability [Abstract]
Deferred Tax Liabilities, Net	$ 37,862	$ 10,742	$ (6,050)

Tax situation - Effective incom

Tax situation - Effective income tax (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Income Tax Explanatory
Profit before income tax		$ (130,318)	$ (43,535)	$ 27,033
Income tax rate	29.50%	32.00%	32.00%	32.00%
Expected income tax expense		$ (23,716)	$ 25,766	$ (22,462)
Non - deductible expenses		(11,789)	(6,877)	(1,095)
Tax expense (income), continuing operations		25,430	(25,590)	26,879
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Income Tax Explanatory
Profit before income tax		$ 511,470	$ 688,451	$ 444,880
Income tax rate		32.00%	32.00%	32.00%
Expected income tax expense		$ 163,670	$ 220,304	$ 142,362
Moratorium interest		24,652	4,052	1,367
Non - deductible expenses		16,925	24,129	23,985
Royalty case		0	0	143,728
IFRIC 23 adoption		0	20,767
Special mining tax and mining royalties		(10,305)	(15,660)	(25,165)
Special mining burden (GEM)		0	0	(22,334)
Income tax rate change effect on deferred taxes for change in Peruvian tax law once the current Stability Contract expires (from 32% to 30.85%)		(2,750)	(2,746)	(1,958)
Income tax true - ups		7,293	(10,255)	(10,312)
Others		4,348	7,620	4,896
Current and deferred income tax charges to results		203,833	248,211	256,569
Mining taxes charged to results		31,535	48,036	65,055
Supplementary retirement fund charged to results		1,558	1,827	3,546
Tax expense (income), continuing operations		$ 236,926	$ 298,074	$ 325,170
Effective income tax		46.32%	43.30%	73.09%

Tax situation - Income tax expe

Tax situation - Income tax expense (benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income tax
Deferred	$ 15,506	$ (37,501)	$ 9,997
Supplementary retirement fund
Income tax expense reported in the statements of comprehensive income	25,430	(25,590)	26,879
Sociedad Minera Cerro Verde S.A.A. [Member]
Income tax
Current	175,870	107,666	254,767
Deferred	25,962	139,934	61,483
income tax expense (benefit)	201,832	247,600	316,250
Mining taxes
Current mining royalty and special mining tax	32,203	47,032	6,661
Supplementary retirement fund
Current	2,568	1,835	1,499
Deferred	323	1,607	760
Total Supplementary retirement fund	2,891	3,442	2,259
Income tax expense reported in the statements of comprehensive income	$ 236,926	$ 298,074	$ 325,170

Tax situation - Additional info

Tax situation - Additional information (Details)		Jan. 05, 2021installment	Jan. 01, 2017	Jan. 01, 2004	Jul. 17, 2012	Sep. 28, 2011	Dec. 31, 2020PEN (S/)installment	Dec. 31, 2020USD ($)installment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2020USD ($)	Dec. 31, 2019PEN (S/)	Dec. 31, 2019USD ($)
Disclosure Of Income Tax Explanatory
Refunds provision															$ 13,700,000
Applicable tax rate			29.50%				32.00%	32.00%	32.00%	32.00%
Income Tax Rate Applicable To Dividends							5.00%	5.00%
Applicable Tax Rate With Respect To Results Obtained												6.80%	6.80%	4.10%
Unused tax losses for which no deferred tax asset recognised							S/ 2,469,226,000								681,354,000	S/ 1,950,896,000	$ 588,151,000
Mining royalties.								$ 11,749,000	$ 12,832,000	$ 21,388,000
Term of agreement of guarantees and measures to promote investments					15 years
Current tax expense (income)								9,924,000	11,911,000	16,882,000
Current tax expense income relating to special mining tax									18,600,000
Current tax expense income relating to mining royalties								17,300,000	28,400,000
Current tax expense income relating to statutory retirement fund								2,600,000	1,800,000
Deferred tax expense (income)								15,506,000	(37,501,000)	9,997,000
Tax expense (income), continuing operations								$ 25,430,000	$ (25,590,000)	$ 26,879,000
Construction work in progress (as a percent)							80.00%	80.00%
Deductible temporary differences for which no deferred tax asset is recognised															1,100,000,000
Data processing equipment
Disclosure Of Income Tax Explanatory
Depreciation rate							50.00%	50.00%
Machinery and equipment
Disclosure Of Income Tax Explanatory
Depreciation rate							20.00%	20.00%
Land transport vehicle
Disclosure Of Income Tax Explanatory
Depreciation rate							33.30%	33.30%
Hybrid or electric land transport vehicle
Disclosure Of Income Tax Explanatory
Depreciation rate							50.00%	50.00%
SUNAT
Disclosure Of Income Tax Explanatory
Number Of Equal Monthly Payments | installment		66
Changes in tax rates or tax laws enacted or announced [member]
Disclosure Of Income Tax Explanatory
Applicable Tax Rate With Respect To Results Obtained										5.00%
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Applicable tax rate			29.50%				29.50%	29.50%	29.50%	29.50%
Maximum mining tax rate on operating profit						12.00%
Mining royalties included in cost of production								$ 6,167,000	$ 7,360,000	$ 1,273,000
Mining tax expense								$ 5,065,000	9,702,000	592,000
Employers contribution rate							0.50%	0.50%
Employees Contribution Rate							0.50%	0.50%
Current Income Tax Payable															39,604,000
Mining Tax Payable															2,425,000		2,877,000
Income and mining tax expense								$ 868,000	728,000	39,000
Term of agreement of guarantees and measures to promote investments							15 years	15 years
Mining royalties payable										0	$ 0				55,000		1,563,000
Current tax expense (income)								$ 53,018,000	64,928,000	30,368,000
Deferred tax expense (income)								0	0	(1,071,000)
Tax expense (income), continuing operations								$ 53,018,000	$ 64,928,000	$ 29,297,000
Tax rate effect from change in tax rate							29.00%	29.00%
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Income Tax Explanatory
Applicable tax rate							32.00%	32.00%	32.00%	32.00%
Deferred tax expense (income) recognised in profit or loss								$ 26,300,000	$ 141,600,000	$ 62,200,000
Amount Paid For Disputed Tax Assessments															432,700,000		432,700,000
Other non-current receivables	[1]														190,501,000		186,626,000
Current tax expense (income)								236,926,000	(298,074,000)	325,170,000
Current tax expense income relating to special mining tax										(28,200,000)
Current tax expense income relating to mining royalties										34,900,000
Current tax expense income relating to statutory retirement fund										1,500,000
Deferred tax expense (income)								25,962,000	139,934,000	61,483,000
Tax expense (income), continuing operations								236,926,000	298,074,000	325,170,000
Current income tax expense								$ 210,600,000	$ 156,500,000	263,000,000
Sociedad Minera Cerro Verde S.A.A. [Member] | December 2006 to December 2013 | SUNAT
Disclosure Of Income Tax Explanatory
Tax payment based on exchange rates															435,200,000
Tax payment based on estimated due							S/ 1,600,000								476,700,000
Number Of Equal Monthly Payments | installment							66	66
Deferred Interest, Interest And Penalties								$ 496,500,000
Amount of the assessment, including interest and penalties							S/ 2,800,000,000	$ 771,200,000
Minera Yanacocha SRL One [Member]
Disclosure Of Income Tax Explanatory
Additional income and mining tax expense										$ 8,230,000	$ 3,526,000
Current Income Tax Payable																	20,276,000
Peruvian government [member]
Disclosure Of Income Tax Explanatory
Applicable tax rate							32.00%	32.00%
Peruvian government [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Royalty rate on revenue						1.00%
IFRS Standby Letters of Credit [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Income Tax Explanatory
Notional amount							S/ 1,370,300,000								$ 378,100,000	S/ 1,643,900,000	$ 495,600,000
Minimum
Disclosure Of Income Tax Explanatory
Royalty rate on revenue				1.00%
Minimum | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Mining tax rate on operating profit							2.00%	2.00%
Minimum | Minera Yanacocha SRL and subsidiary [Member] | Special Mining Burden [Member]
Disclosure Of Income Tax Explanatory
Mining tax rate on operating profit							4.00%	4.00%
Maximum
Disclosure Of Income Tax Explanatory
Royalty rate on revenue				12.00%
Maximum | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Income Tax Explanatory
Mining tax rate on operating profit							8.40%	8.40%
Maximum | Minera Yanacocha SRL and subsidiary [Member] | Special Mining Burden [Member]
Disclosure Of Income Tax Explanatory
Mining tax rate on operating profit							13.12%	13.12%
[1]	Represents disbursements made under protest by the Company in connection with disputed tax assessments related to reviews by SUNAT (Superintendencia Nacional de Administración Tributaria) from the years 2003 to 2012 (see Note 13(c) and 13(e)). According to current tax procedures and the timeframe for resolving these types of claims, management and its legal advisors expect resolution of this matter will be favorable to the Company and amounts will be recoverable.

Net sales (Details)

Net sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods	$ 637,619	$ 821,930	$ 1,106,329
Revenue from rendering of services	20,285	23,661	24,001
Gold	229,590	254,194	411,877
Silver	230,498	298,171	362,122
Copper	181,311	238,304	274,761
Zinc	120,546	149,317	164,666
Lead	48,426	89,141	85,555
Manganese sulfate	4,051	6,046	6,655
Revenue from sale of goods before commercial deductions	814,422	1,035,173	1,305,636
Commercial deductions	(179,748)	(220,306)	(192,684)
Royalty income	18,638	22,297	20,385
Revenue from contracts with customers	673,597	860,825	1,157,338
Revenue	676,542	867,888	1,150,715
Contracts with customers for sale of goods	634,674	814,867	1,112,952
Hedge Operations	(6,464)	4,322	(1,398)
Fair Value of accounts receivables.	5,154	2,347	(6,013)
Adjustments to prior period liquidations	4,255	394	788
Peru [Member]
Disclosure of Sales of goods [Line Items]
Revenue from rendering of services	20,173	23,501	23,712
Royalty income	18,638	22,297	20,385
Revenue from contracts with customers		22,297
Contracts with customers for sale of goods	389,854	476,978	521,017
America
Disclosure of Sales of goods [Line Items]
Revenue from rendering of services	92	130	289
Contracts with customers for sale of goods	163,500	171,769	370,624
Asia [Member]
Disclosure of Sales of goods [Line Items]
Contracts with customers for sale of goods	39,110	105,645	120,519
Europe [Member]
Disclosure of Sales of goods [Line Items]
Revenue from rendering of services	20	30
Contracts with customers for sale of goods	$ 42,210	$ 60,475	$ 100,792

Net sales - Revenue from contra

Net sales - Revenue from contracts with customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Sales of goods [Line Items]
Revenue from sale of gold	$ 229,590	$ 254,194	$ 411,877
Less: Royalty contributions (see Note 2(k))	(11,749)	(12,832)	(21,388)
Revenue from sale of goods	637,619	821,930	1,106,329
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of gold	592,394	734,526	658,653
Less: Royalty contributions (see Note 2(k))		(49,000)	(3,600)
Revenue from sale of goods	592,394	734,526	658,653
Minera Yanacocha SRL and subsidiary [Member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Disclosure of Sales of goods [Line Items]
Less: Royalty contributions (see Note 2(k))	(18,638)	(22,297)	(20,385)
Minera Yanacocha SRL and subsidiary [Member] | Switzerland
Disclosure of Sales of goods [Line Items]
Revenue from sale of gold	590,002	$ 734,526	518,664
Minera Yanacocha SRL and subsidiary [Member] | America
Disclosure of Sales of goods [Line Items]
Revenue from sale of gold	1,135		$ 139,989
Minera Yanacocha SRL and subsidiary [Member] | Singapore
Disclosure of Sales of goods [Line Items]
Revenue from sale of gold	$ 1,257

Net sales - Sales of goods (Det

Net sales - Sales of goods (Details) S/ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Dec. 31, 2019PEN (S/)	Dec. 31, 2019USD ($)	Dec. 31, 2018PEN (S/)	Dec. 31, 2018USD ($)
Disclosure of Sales of goods [Line Items]
Revenue from sale of copper		$ 181,311		$ 238,304		$ 274,761
Less: Royalty contributions (see Note 2(k))		(11,749)		(12,832)		(21,388)
Revenue from sale of goods		637,619		821,930		1,106,329
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of copper		2,538,593		2,896,894		3,061,930
Less: Royalty contributions (see Note 2(k))		(2,000)		(2,923)		(2,743)
Revenue from sale of goods		2,538,593		2,896,894		3,061,930
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper concentrate [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of copper	S/ 743,274	2,088,167	S/ 912,974	2,294,249	S/ 962,113	2,458,088
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper cathode [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of copper	S/ 83,870	241,808	S/ 88,875	244,277	S/ 86,346	251,908
Sociedad Minera Cerro Verde S.A.A. [Member] | Other primarily silver and molybdenum concentrate [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of copper		$ 208,618		$ 358,368		$ 351,934

Net sales - geographic region (

Net sales - geographic region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Sales of goods [Line Items]
Less: Royalty contributions (see Note 2(k))	$ (11,749)	$ (12,832)	$ (21,388)
Revenue from sale of goods	637,619	821,930	1,106,329
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	2,538,593	2,896,894	3,061,930
Sociedad Minera Cerro Verde S.A.A. [Member] | Asia [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	2,096,084	2,374,350	2,404,530
Sociedad Minera Cerro Verde S.A.A. [Member] | North America [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	120,865	265,599	295,448
Sociedad Minera Cerro Verde S.A.A. [Member] | South America primarily Peru [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	106,489	168,077	136,400
Sociedad Minera Cerro Verde S.A.A. [Member] | Europe [Member]
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	207,954	77,716	209,894
Sociedad Minera Cerro Verde S.A.A. [Member] | America
Disclosure of Sales of goods [Line Items]
Revenue from sale of goods before deducting royalty expense	$ 7,201	$ 11,152	$ 15,658

Net sales - Other operating rev

Net sales - Other operating revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Net Sales [Line Items]
Other operating income (expense)	$ 2,690	$ 14,715	$ (1,308)
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Net Sales [Line Items]
Other operating income (expense)	27,768	4,776	21,965
Copper and silver in concentrate [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Net Sales [Line Items]
Other operating income (expense)	27,765	4,098	20,442
Others [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Net Sales [Line Items]
Other operating income (expense)	$ 3	$ 678	$ 1,523

Net sales - Additional informat

Net sales - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	10.00%
Percentage Of Sale Expenses On Operating Income	3.00%	3.00%	2.00%
Percentage Of Transportation Services On Sales Expenses	64.00%	58.00%	58.00%
Percentage Of Shipping Expenses On Sales Expenses	13.00%	22.00%	21.00%
Revenue from sale of goods, related party transactions	$ 2,400,000	$ 2,700,000	$ 2,900,000
Increase decrease in revenue from sale of copper through adjustments arising from change in provisional price	$ 64,700	$ 56,800	$ 88,800
Percentage of sales to related party	94.00%	92.00%	94.00%
Customer1 [Member]
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	26.00%	25.00%	32.00%
Customer2 [Member]
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	23.00%	16.00%	13.00%
Customer3 [Member]
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	16.00%	11.00%	11.00%
Customer4 [Member]
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	15.00%
Trade receivables [member]
Disclosure Of Net Sales [Line Items]
Percentage of entity's revenue	65.00%	84.00%
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Net Sales [Line Items]
Adjustments for decrease (increase) in trade and other receivables	$ 583	$ 176	$ 15
Minera Yanacocha SRL and subsidiary [Member] | Copper concentrate [Member]
Disclosure Of Net Sales [Line Items]
Percentage of copper sales	0.00%
Minera Yanacocha SRL and subsidiary [Member] | Ocean Partners | Copper concentrate [Member]
Disclosure Of Net Sales [Line Items]
Percentage of copper sales	100.00%
Minera Yanacocha SRL and subsidiary [Member] | Switzerland
Disclosure Of Net Sales [Line Items]
Percentage of copper sales	100.00%
Minera Yanacocha Srl And Subsidiaries [Member]
Disclosure Of Net Sales [Line Items]
Adjustments for decrease (increase) in trade and other receivables	$ (7,110)	$ 13,290	$ (7,580)

Cost of sales, without consid_3

Cost of sales, without considering depreciation and amortization - Cost of sales of goods (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cost of production
Cost of sales, excluding depreciation and amortization	$ 393,888	$ 512,874	$ 613,381
cost of sales of products [Member]
Disclosure of cost of sales [Line Items]
Beginning balance of finished goods and products in process, net of depreciation and amortization		31,938	49,206	$ 37,640
Cost of production
Services provided by third parties	143,652	196,895	243,410
Consumption of materials and supplies	70,942	96,351	133,961
Disbursement of salaries	62,885	79,076	93,122
Electricity and water	36,504	44,583	50,215
Maintenance and repair	22,235	19,729	24,415
Short-term and low-value lease	16,289	20,784	23,539
Transport	12,234	16,341	30,819
Insurances	12,036	12,235	11,311
Provision (reversal) for impairment of finished goods and product in progress, note 8(c)	5,054	(2,143)	4,521
Other production expenses	11,916	11,755	9,634
Total cost of production of the period	393,747	495,606	624,947
Final balance of products in process and finished goods, net of depreciation and amortization	$ (31,797)	$ (31,938)	$ (49,206)

Cost of sales, without consid_4

Cost of sales, without considering depreciation and amortization - Costs applicable to sales (Details) - New - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of cost of sales [Line Items]
Royalties expenses	$ 11,749	$ 12,832	$ 21,388
Depreciation and amortization	189,620	226,335	238,879
Cost of sales of goods, excluding depreciation and amortization	652,613	799,582	967,696
Cost of inventory recognized in cost of inventory	299,955	326,790	327,459
Minera Yanacocha Srl And Subsidiaries [Member]
Disclosure of cost of sales [Line Items]
Beginning balance of finished goods and in-process	302,382	341,213	345,489
Beginning balance of provision for net realizable value, note 8(b)	47,925	89,127	62,540
Consumption of supplies	138,041	200,036	215,863
Personnel expenses	61,298	72,325	82,645
Other services	31,864	41,120	43,671
Maintenance	17,415	26,645	22,585
Power	20,241	23,619	24,203
Depreciation and amortization	140,252	144,862	156,212
Workers' profit participation	17,199	12,804	3,837
Incremental costs related to COVID-19 pandemic and care and maintenance	43,672
Provision for mine closure, note 12	124,780	142,129	16,285
Ending balance of provision for net realizable value, note 8(b)	13,287	47,925	89,127
Ending balance of finished goods and in-process	222,258	302,382	341,213
Cost of sales of goods, excluding depreciation and amortization	666,456	692,721	619,424
Minera Yanacocha Srl And Subsidiaries [Member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Disclosure of cost of sales [Line Items]
Royalties expenses	18,638	22,297	20,385
Minera Yanacocha Srl And Subsidiaries [Member] | Government [member]
Disclosure of cost of sales [Line Items]
Royalties expenses	$ 7,570	$ 9,255	$ 2,875

Cost of sales, without consid_5

Cost of sales, without considering depreciation and amortization - Cost of services (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of cost of sales [Line Items]
Cost of sales of services, without considering depreciation and amortization	$ 1,554	$ 3,378	$ 4,318
cost of services [Member]
Disclosure of cost of sales [Line Items]
Disbursement of salaries	371	1,231	2,128
Consumption of materials and supplies	20	497	675
Maintenance and repair	55	186	543
Services provided by third parties	189	331	382
Electricity and water	668	589	249
Insurances	81	163	86
Transport	87	148	50
Short-term and low-value lease	6	89	92
Other production expenses	77	144	113
Cost of sales of services, without considering depreciation and amortization	$ 1,554	$ 3,378	$ 4,318

Cost of sales, without consid_6

Cost of sales, without considering depreciation and amortization - Cost of sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of cost of sales [Line Items]
Depreciation and amortization	$ 189,620	$ 226,335	$ 238,879
Third parties services	1,554	3,378	4,318
OEFA and OSINERGMIN contributions	11,749	12,832	21,388
Cost of sales	652,613	799,582	967,696
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of cost of sales [Line Items]
Materials and supplies	581,658	693,292	693,316
Depreciation and amortization	451,001	523,512	512,298
Labor (a)	288,104	285,081	357,692
Energy	200,794	228,853	254,243
Third parties services	164,590	181,215	159,514
Incremental costs related to COVID-19 pandemic	95,702
Change in finished goods inventory	11,320	11,488
Change in work in process inventory	10,391	(2,290)	(5,723)
Depreciation for right-of-use assets (see Note 7 and 10(a))	7,399	7,069
Variable lease payments, low-value and short-term leases (see Note 10(a))	5,889	6,828	7,904
OEFA and OSINERGMIN contributions	2,000	2,923	2,743
Management Fees	(49,575)	(23,427)	(8,513)
Other costs	39,982	47,033	45,402
Cost of sales	$ 1,809,255	$ 1,961,577	$ 2,018,876

Cost of sales, without consid_7

Cost of sales, without considering depreciation and amortization - Additional information (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of cost of sales [Line Items]
Increase decrease in labor costs related to profit sharing	$ 28.9	$ 32.2	$ 60.2
Increase (decrease) in labor costs for recognition of contingent liabilities related to taxes	8.3
Administrative expense directly related to cost of production	35.6	32	30.7
Administrative Expense Related To Cost Of Production	$ 35.6	$ 32	$ 30.7
OSINERGMIN [Member]
Disclosure of cost of sales [Line Items]
Percentage of invoiced sales payable as royalty	0.14%	0.13%	0.14%
OEFA [Member]
Disclosure of cost of sales [Line Items]
Percentage of invoiced sales payable as royalty	0.10%	0.11%

Cost of sales, without consid_8

Cost of sales, without considering depreciation and amortization - Incremental costs related to COVID-19 pandemic and care and maintenance (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Minera Yanacocha Srl And Subsidiaries [Member]
Disclosure of cost of sales [Line Items]
Incremental costs related to COVID-19 pandemic and care and maintenance, capitalized to inventory	$ 0
Incremental costs (i)	27,157
Personnel expenses (i)	11,446
Labor expenses (ii)	5,069
Incremental labor costs	14,300
Incremental costs of services	9,500
Incremental other costs	3,300
Incremental costs related to COVID-19	43,672
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of cost of sales [Line Items]
Incremental costs (i)	51,071
Labor and other employee expenses (ii)	29,705
Severance costs (iii)	7,485
Capital project write-off	6,255
Exceptional contributions and donations	1,186
Incremental costs related to COVID-19	95,702
Incremental depreciation	21,900
Severance costs associated with employee retirement programs	$ 7,100

Operating expenses, net (Detail

Operating expenses, net (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Operating Expenses [line items]
Operating expenses, net	$ 34,322	$ 35,987	$ 76,155
Exploration and advanced projects [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	19,279	33,669	62,643
Severance program [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	4,454	2,210	8,678
Social responsibility commitments
Disclosure of Operating Expenses [line items]
Operating expenses, net	6,730	250
Cost of fixed assets sold [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	30	2,092	5,445
Tax fine [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	11	2,019	3,954
Write-off of fixed assets [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	460	1,204
Income from fixed asset sales [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	(40)	(8,088)	(4,821)
Others, net [Member]
Disclosure of Operating Expenses [line items]
Operating expenses, net	$ 3,398	$ 2,631	$ 256

Exploration in operating unit_2

Exploration in operating units (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Exploration In Operating Units [Line Items]
Beginning balance of finished goods and products in process, net of depreciation and amortization	$ 444	$ 2,837	$ 5,157
Total exploration in operating units	28,896	41,770	87,410
Final balance of products in process and finished goods, net of depreciation and amortization	1,296	444	2,837
Exploration in operating units	28,044	44,163	89,730
Services provided by third parties
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	20,406	33,591	71,513
Consumption of materials and supplies [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	1,426	3,712	8,594
Direct labor
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	3,361	1,747	2,349
Purchase of land [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	2,162
Short-term and low-value lease [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	766	1,186	2,065
Electricity and water [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	471	905	1,337
Maintenance and repair [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	9	10	450
Transport [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	12	71	192
Others [Member]
Disclosure Of Exploration In Operating Units [Line Items]
Exploration in operating units	$ 283	$ 548	$ 910

Exploration in operating unit_3

Exploration in operating units - Additional information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Exploration in operating units
Disbursement of exploration in operating activities	$ 28	$ 44.2	$ 89.7

Mining royalties (Details)

Mining royalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Mining Royalties [Line Items]
Royalty Expense	$ 11,749	$ 12,832	$ 21,388
Sindicato Minero de Orcopampa S.A., note 29(b) [Member]
Disclosure Of Mining Royalties [Line Items]
Royalty Expense	6,180	4,741	12,122
Royalties paid to the Peruvian State [Member]
Disclosure Of Mining Royalties [Line Items]
Royalty Expense	$ 5,569	$ 8,091	$ 9,266

Administrative expenses (Detail

Administrative expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of administrative expense [Line Items]
Administrative expenses.	$ 67,185	$ 76,297	$ 77,099
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	1,227	1,744	2,783
Management expenses [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	874	1,341	1,317
Others [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	353	403	1,466
Personnel expenses [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	34,500	38,566	34,656
Professional fees [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	10,517	13,924	15,324
Sundry charges [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	7,766	7,489	3,965
Board of Directors' participation [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	2,178	2,202	3,252
Software licenses [member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	1,731	1,706	1,824
Subscriptions and quotes [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	1,405	1,492	1,938
Donations [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	708	1,030	1,617
Short-term and low-value lease [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	611	1,011	5,818
Maintenance and repairs [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	579	953	2,732
Communications [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	973	1,296	1,512
Depreciation and amortization [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	3,700	3,825	1,295
Transport [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	255	878	1,212
Insurance [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	1,272	720	645
Travel and mobility [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	153	373	467
Consumption of materials and supplies [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	393	422	436
Canons and tributes [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	318	$ 410	388
Allowance for doubtful accounts [Member]
Disclosure of administrative expense [Line Items]
Administrative expenses.	$ 126		$ 18

Exploration in non-operating _3

Exploration in non-operating areas (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	$ 8,475	$ 11,879	$ 36,307
Personnel expenses [Member]
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	1,705	3,632	4,830
Services provided by third parties
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	3,326	3,611	22,764
Services provided by third parties
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	1,538	766	1,211
Lands [Member]
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	420	1,528	1,867
Short-term and low-value lease [Member]
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	327	415	1,524
Consumption of materials and supplies [Member]
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	201	328	1,420
Other expenses [Member]
Disclosure Of Exploration In Non-Operating Areas [Line Items]
Expense arising from exploration for and evaluation of non operating units	$ 958	$ 1,599	$ 2,691

Exploration in non-operating _4

Exploration in non-operating areas - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Exploration in non-operating areas
Disbursements Of Exploration In Non-Operating Areas	$ 8.5	$ 11.9	$ 36.3

Other, net (Details)

Other, net (Details) - USD ($)	Apr. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Other net [Line Items]
Other operating incomes		$ 53,767,000	$ 77,000,000	$ 102,599,000
Other Operating Expense		(51,077,000)	(91,715,000)	(103,907,000)
Other operating income expense net		2,690,000	(14,715,000)	(1,308,000)
Loss for the year		(150,339,000)	(28,459,000)	(11,654,000)
Proceeds from insurance claim		4,381,000	0	38,793,000
Associated Costs for Mitigation and Repairs				5,058,000
loss on sale of investment in subsidiary	$ 4,100,000
Disposal cost of sale of supplies and merchandise to third parties [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(26,463,000)	(33,664,000)	(57,897,000)
Provision for impairment of spare parts and supplies, note 8(c) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(17,266,000)	(15,703,000)	(11,704,000)
Direct expenses [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(3,311,000)	(15,992,000)	(9,867,000)
Expenses from previous years [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(1,402,000)	(2,240,000)	(1,831,000)
Disposal cost of sale of supplies and merchandise to related parties [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(1,211,000)	(2,944,000)	(257,000)
Changes in provisions for exploration projects, note 15(b) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(642,000)	(4,020,000)	0
Withdrawals and disposals of property, machinery and equipment, note 11(a) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(586,000)	(2,926,000)	(6,626,000)
Net cost of property, machinery and equipment to third parties, note 11(a) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(192,000)	(4,965,000)	(626,000)
Allowance for expected credit losses, note 7(f) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		(4,000)	(25,000)	(1,334,000)
Net cost of transfer of investments (c) [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		0	0	(11,178,000)
Other minor [Member]
Disclosure of Other net [Line Items]
Other Operating Expense		0	(9,236,000)	(2,587,000)
Sale of supplies and merchandise to third parties [Member]
Disclosure of Other net [Line Items]
Other operating incomes		19,581,000	32,228,000	46,128,000
Reversal for impairment of spare parts and supplies, note 8(c) [Member]
Disclosure of Other net [Line Items]
Other operating incomes		15,762,000	11,641,000	4,665,000
Sale of services to third parties [Member]
Disclosure of Other net [Line Items]
Other operating incomes		5,626,000	6,415,000	3,512,000
Insurance claim recovery (b) [Member]
Disclosure of Other net [Line Items]
Other operating incomes		4,381,000	0	33,735,000
Revenue from commercial claims [Member]
Disclosure of Other net [Line Items]
Other operating incomes		3,800,000	2,098,000	0
Sale of assets to third parties [Member]
Disclosure of Other net [Line Items]
Other operating incomes		1,356,000	19,405,000	3,863,000
Sale of supplies to related parties, note 30(a) [Member]
Disclosure of Other net [Line Items]
Other operating incomes		890,000	1,259,000	27,000
Income from previous years [Member]
Disclosure of Other net [Line Items]
Other operating incomes		475,000	1,311,000	1,504,000
Sale of investment in subsidiary [Member]
Disclosure of Other net [Line Items]
Other operating incomes		250,000	0	7,097,000
Sale of assets to related parties, note 30(a) [Member]
Disclosure of Other net [Line Items]
Other operating incomes		0	11,000	30,000
Changes in provisions for exploration projects [Member]
Disclosure of Other net [Line Items]
Other operating incomes		0	0	2,433,000
Recovery of expenses from previous years [Member]
Disclosure of Other net [Line Items]
Other operating incomes		0	0	81,000
Income from rental of investment properties [Member]
Disclosure of Other net [Line Items]
Other operating incomes		0	0	45,000
Expiration of allowance for expected credit losses, note 7(f) [Member]
Disclosure of Other net [Line Items]
Other operating incomes		0	0	45,000
Other minor [Member]
Disclosure of Other net [Line Items]
Other operating incomes		$ 1,646,000	$ 2,632,000	$ (566,000)

Finance costs and finance inc_3

Finance costs and finance income - (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance revenues:
Interest on time deposits	$ 1,074,000	$ 4,971,000	$ 5,176,000
Interests on third parties loans	355,000	460,000	561,000
Interests on tax claims	352,000	16,000	1,701,000
Interests on loans to related parties, note 30(a)	114,000	86,000	92,000
Dividends income	0	3,625,000	0
Other minor	155,000	517,000	340,000
Finance income before financial obligations amortized costs and unrealized variation of fair value related to contingent consideration liability	2,050,000	9,675,000	7,870,000
Financial obligations amortized costs	361,000	0	0
Unrealized change of the fair value related to contingent consideration liability (b)	0	0	1,815,000
Total finance revenues	2,411,000	9,675,000	9,685,000
Finance costs:
Interest on borrowings	19,249,000	28,418,000	31,538,000
Commission for restructuring financial obligations, note 16	3,929,000	0	0
Interest on commercial obligations	626,000	0	0
Settlement of hedging financial instruments, note 32(b)	146,000	0	0
Tax on financial transactions	107,000	166,000	173,000
Interest on loans	55,000	1,000	2,000
Other minor	37,000	141,000	703,000
Finance costs before unrealized change of fair value related to contingent consideration liability	24,149,000	28,726,000	32,416,000
Accretion expense for mine closure, note 15(b)	6,672,000	10,390,000	4,982,000
Unrealized change of the fair value related to contingent consideration liability (b)	5,690,000	655,000	0
Accrual of debt issuance costs, note 16(f)	976,000	2,109,000	1,024,000
Accretion expense for leases related to rights in use	180,000	293,000	0
Other minor	155,000	0	0
Financial expenses	$ 37,822,000	$ 42,173,000	$ 38,422,000

Finance costs and finance inc_4

Finance costs and finance income - Reconciliation of fair value measurement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance costs and finance income
Beginning balance	$ 16,410	$ 15,755	$ 17,570
Variation of the fair value in profit and loss	5,690	655	(1,815)
Final balance	$ 22,100	$ 16,410	$ 15,755

Finance costs and finance inc_5

Finance costs and finance income - Unobservable valuation inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance costs and finance income
Annual average of future sales of mineral	$ 222,238	$ 190,815
Useful life of mining properties	0 years	14 years
Pre-tax Discount rate (%)	9.30%	10.00%

Finance costs and finance inc_6

Finance costs and finance income - Finance cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance Cost and Finance Income [Line Items]
Finance costs	$ 37,822	$ 42,173	$ 38,422
Minera Yanacocha SRL and subsidiary [Member]
Finance Cost and Finance Income [Line Items]
Unwinding of the discount of the provision for mining closure, note 12(b)	32,049	36,709	36,015
Commissions of guarantee letters	3,153	2,485	2,113
Unwinding of debt instruments, note 14	1,497	1,497	735
Interests on tax contingency and others, see note 23		16,938	161
Finance costs	$ 36,699	$ 57,629	$ 39,024

Finance costs and finance inc_7

Finance costs and finance income - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2017	Aug. 18, 2014
Finance Cost and Finance Income [Line Items]
Percentage of voting equity interests acquired		5.00%
Contingent consideration recognised as of acquisition date	$ 23,026,000
Royalty rate	1.50%
Minera Gold Fields Peru S.A [Member]
Finance Cost and Finance Income [Line Items]
Percentage of voting equity interests acquired			51.00%

Deferred income tax - Differenc

Deferred income tax - Differences between the accounting and tax basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	$ 45,597	$ 6,883
Deferred tax expense (income)	15,506	(37,501)	$ 9,997
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	(5,440)	(813)	9,916
Deferred income tax other income		400
Deferred tax liability (asset)	35,531	45,597	6,883
Deferred liability for mining royalties [Member]
Disclosure of Deferred income tax [Line Items]
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0
Deferred Liability For Derivative Financial Instruments [Member]
Disclosure of Deferred income tax [Line Items]
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0
Deferred asset [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	237,709	206,870
Deferred tax expense (income)	24,023	30,439
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	5,440	0
Deferred income tax other income		400
Deferred tax liability (asset)	267,172	237,709	206,870
Deferred asset [Member] | Deferred asset for income tax before allowance [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	237,679	206,834
Deferred tax expense (income)	24,053	30,445
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		400
Deferred tax liability (asset)	261,732	237,679	206,834
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Unused tax losses [member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	131,328	105,462
Deferred tax expense (income)	27,185	25,866
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	158,513	131,328	105,462
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Difference in depreciation and amortization rates [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	61,287	61,390
Deferred tax expense (income)	2,616	(103)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	63,903	61,287	61,390
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Provision for closure of mining units, net [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	15,513	11,829
Deferred tax expense (income)	(1,313)	3,684
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	14,200	15,513	11,829
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Provision for impairment of value of inventory [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	7,494	6,833
Deferred tax expense (income)	(195)	661
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	7,299	7,494	6,833
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Contingent consideration liability [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	4,841	4,648
Deferred tax expense (income)	1,671	193
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	6,512	4,841	4,648
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Other temporary differences [member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	9,168	9,200
Deferred tax expense (income)	207	(432)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		400
Deferred tax liability (asset)	9,375	9,168	9,200
Deferred asset [Member] | Deferred asset for income tax before allowance [Member] | Impairment loss of long-lived assets [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	8,048	7,472
Deferred tax expense (income)	(6,118)	576
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	1,930	8,048	7,472
Deferred asset [Member] | Deferred asset included in retained earnings [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	237,679	206,834
Deferred tax expense (income)	24,053	30,445
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	5,440	0
Deferred income tax other income		400
Deferred tax liability (asset)	267,172	237,679	206,834
Deferred asset [Member] | Deferred asset included in retained earnings [Member] | Derivative financial instruments [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	0	0
Deferred tax expense (income)	0	0
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	5,440	0
Deferred income tax other income		0
Deferred tax liability (asset)	5,440	0	0
Deferred asset [Member] | Deferred assets for mining royalties [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	30	36
Deferred tax expense (income)	(30)	(6)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	0	30	36
Deferred liability [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(192,112)	(199,987)
Deferred tax expense (income)	(39,529)	7,062
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	813
Deferred income tax other income		0
Deferred tax liability (asset)	(231,641)	(192,112)	(199,987)
Deferred liability [Member] | Deferred liability for income tax [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(191,944)	(199,172)
Deferred tax expense (income)	(39,323)	7,228
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(231,267)	(191,944)	(199,172)
Deferred liability [Member] | Deferred liability for income tax [Member] | Difference in depreciation and amortization rates [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(44,007)	(36,468)
Deferred tax expense (income)	(3,028)	(7,539)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(47,035)	(44,007)	(36,468)
Deferred liability [Member] | Deferred liability for income tax [Member] | Fair value of mining concessions [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(12,983)	(12,745)
Deferred tax expense (income)	(1,915)	(238)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(14,898)	(12,983)	(12,745)
Deferred liability [Member] | Deferred liability for income tax [Member] | Other temporary differences [member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(19,333)	(22,700)
Deferred tax expense (income)	(7,036)	3,367
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(26,369)	(19,333)	(22,700)
Deferred liability [Member] | Deferred liability for income tax [Member] | Effect of translation into U.S. dollars [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(46,276)	(61,271)
Deferred tax expense (income)	(31,853)	14,995
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(78,129)	(46,276)	(61,271)
Deferred liability [Member] | Deferred liability for income tax [Member] | Differences in amortization rates for development costs [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(69,345)	(65,988)
Deferred tax expense (income)	4,509	(3,357)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(64,836)	(69,345)	(65,988)
Deferred liability [Member] | Deferred liability for mining royalties [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	(168)	(2)
Deferred tax expense (income)	(206)	(166)
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	0
Deferred income tax other income		0
Deferred tax liability (asset)	(374)	(168)	(2)
Deferred liability [Member] | Deferred Liability For Derivative Financial Instruments [Member]
Disclosure of Deferred income tax [Line Items]
Deferred tax liability (asset)	0	(813)
Deferred tax expense (income)	0	0
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	0	813
Deferred income tax other income		0
Deferred tax liability (asset)	$ 0	$ 0	$ (813)

Deferred income tax - Consolida

Deferred income tax - Consolidated statement of financial position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax
Deferred income tax asset	$ 73,850	$ 74,556
Deferred income tax liability	38,319	28,959
Deferred tax liability (asset)	$ 35,531	$ 45,597	$ 6,883

Deferred income tax - Compositi

Deferred income tax - Composition of the provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Deferred income tax [Line Items]
Current	$ (9,924)	$ (11,911)	$ (16,882)
Deferred	(15,506)	37,501	(9,997)
Total income tax	(25,430)	25,590	(26,879)
Income Tax Expense [Member]
Disclosure of Deferred income tax [Line Items]
Current	(8,446)	(11,851)	(12,433)
Deferred	(15,270)	37,617	(10,029)
Total income tax	(23,716)	25,766	(22,462)
Mining Royalties and Special Mining Tax [Member]
Disclosure of Deferred income tax [Line Items]
Current	(1,478)	(60)	(4,449)
Deferred	(236)	(116)	32
Total income tax	$ (1,714)	$ (176)	$ (4,417)

Deferred income tax - Reconcili

Deferred income tax - Reconciliation of tax expense and the accounting profit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax
Profit (loss) before income tax	$ (130,318)	$ (43,535)	$ 27,033
Profit (loss) for discontinued operations	5,409	(10,514)	(11,808)
Profit (loss) before income tax	(124,909)	(54,049)	15,225
Theoretical gain (loss) for income tax	36,848	15,944	(4,491)
Effect of translation into U.S. dollars	(31,853)	14,995	(15,248)
Non - deductible expenses	(11,789)	(6,877)	(1,095)
Foreign exchange difference of permanent items	(10,524)	(3,081)	(2,371)
Share in the results of associates	(2,808)	14,074	(337)
Unrecognized deferred tax asset	(2,342)	(9,265)	(2,038)
Deferred stripping cost	(2,521)	0
Mining royalties and special mining tax	1,273	(24)	3,118
Income tax income (expense)	(23,716)	25,766	(22,462)
Mining Royalties and Special Mining Tax	(1,714)	(176)	(4,417)
Total income tax	$ (25,430)	$ 25,590	$ (26,879)

Deferred income tax - Additiona

Deferred income tax - Additional information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised	$ 64.2	$ 60.4

Commitments and contingencies -

Commitments and contingencies - Summary of assessments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	$ 294,610
Tax Assessments Penalties And Interest Expense	442,302
Total	736,912
Year 2003 - 2005 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	8,780
Tax Assessments Penalties And Interest Expense	39,700
Total	48,480
Year 2006 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	11,206
Tax Assessments Penalties And Interest Expense	51,769
Total	62,975
Year 2007 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	12,821
Tax Assessments Penalties And Interest Expense	21,177
Total	33,998
Year 2008 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	16,906
Tax Assessments Penalties And Interest Expense	16,859
Total	33,765
Year 2009 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	56,000
Tax Assessments Penalties And Interest Expense	51,606
Total	107,606
Year 2010 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	53,700
Tax Assessments Penalties And Interest Expense	117,880
Total	171,580
Year 2011 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	41,063
Tax Assessments Penalties And Interest Expense	67,932
Total	108,995
Year 2012 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	869
Tax Assessments Penalties And Interest Expense	9,477
Total	10,346
Year 2013 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	48,401
Tax Assessments Penalties And Interest Expense	65,902
Total	114,303
Year 2014-2020 [Member]
Disclosure of Commitments and contingencies [Line Items]
Tax assessments, Estimated possible losses	44,864
Tax Assessments Penalties And Interest Expense	0
Total	$ 44,864

Commitments and contingencies_2

Commitments and contingencies - Outstanding signed commitments (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	$ 639,027	$ 583,317	$ 539,251
Scotiabank [member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	259,027	253,317	235,000
BBVA Continental [member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount			190,000
Banco de Credito del Peru [member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount			$ 114,251
Pacfico Zurich [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	200,000	200,000
La Positiva [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	70,000	70,000
Rimac (Travelers) [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	60,000	$ 60,000
Santander [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	25,000
MUFG Bank [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount	$ 25,000

Commitments and contingencies_3

Commitments and contingencies - Additional information (Details)

Jan. 05, 2021PEN (S/)installment

Jun. 23, 2004

Dec. 31, 2020PEN (S/)

Dec. 31, 2020USD ($)

Dec. 31, 2019PEN (S/)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2015PEN (S/)

Dec. 31, 2015USD ($)

Dec. 31, 2021PEN (S/)

Dec. 31, 2021USD ($)

Jan. 05, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 14, 2020PEN (S/)

Dec. 14, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 20, 2019PEN (S/)

Dec. 20, 2019USD ($)

Sep. 30, 2019PEN (S/)

Sep. 30, 2019USD ($)

Dec. 31, 2018PEN (S/)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014PEN (S/)

Dec. 31, 2014USD ($)

Dec. 31, 2012PEN (S/)

Dec. 31, 2012USD ($)

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 43,462,000

$ 11,993,000

Recoverability of litigation amount

$ 190,500,000

Declared tax deductions not recognized

1,100,000,000

Description of material leasing arrangements by lessor classified as operating lease

Legal procedures -Buenaventura -

Legal procedures -Buenaventura -

Tax expense (income), continuing operations

$ 25,430,000

$ (25,590,000)

$ 26,879,000

SUNAT

Disclosure of Commitments and contingencies [Line Items]

Tax assessment value

S/ 1,505,948,000

$ 415,549,000

Number of equal monthly payments | installment

66

Minera Yanacocha SRL and subsidiary [Member]

Disclosure of Commitments and contingencies [Line Items]

Provision for collection of doubtful debts

29,000,000

Loss contingencies, laws affected

The Peruvian Agency in charge of conducting environmental evaluations and audits is the OEFA, the Environmental Assessment and Enforcement Agency, this institution conducts periodic supervision of the Yanacocha mine. From 2011 to 2020, the OEFA issued notifications of alleged breaches of Yanacocha's environmental standards and environmental management instruments, related to past supervisions. OEFA has resolved identified findings that do not translate into environmental deterioration as a result of some bad practice in the Yanacocha operation. The experience with OEFA, in the case of finding administrative responsibility to Yanacocha, results in a corrective action, in addition to imposing a fine that is calculated by the avoided cost capitalized on the date of issuance of the directorial resolution, multiplied by potential factors of environmental impact. The presumed offenses identified by the OEFA currently range from zero to 33,676

The Peruvian Agency in charge of conducting environmental evaluations and audits is the OEFA, the Environmental Assessment and Enforcement Agency, this institution conducts periodic supervision of the Yanacocha mine. From 2011 to 2020, the OEFA issued notifications of alleged breaches of Yanacocha's environmental standards and environmental management instruments, related to past supervisions. OEFA has resolved identified findings that do not translate into environmental deterioration as a result of some bad practice in the Yanacocha operation. The experience with OEFA, in the case of finding administrative responsibility to Yanacocha, results in a corrective action, in addition to imposing a fine that is calculated by the avoided cost capitalized on the date of issuance of the directorial resolution, multiplied by potential factors of environmental impact. The presumed offenses identified by the OEFA currently range from zero to 33,676

Tax expense (income), continuing operations

$ 53,018,000

64,928,000

$ 29,297,000

Provision for tax Dispute related to the amortization of the contractual rights

29,000,000

Maximum amount of potential excessive interest against which the company has filed an objection

60,000,000

Maximum amount of duplicity of criteria against which the company has filed an objection

81,000,000

Minera Yanacocha SRL and subsidiary [Member] | Los Tapados S.A [Member]

Disclosure of Commitments and contingencies [Line Items]

Royalty rate on net sales

3.00%

3.00%

Minera Yanacocha S.R.L

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

8,000,000

Open tax procedure | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Collection of debt forced amount

S/ 120,262,000

$ 33,240,000

Appeal Proceedings Provision for collection of Doubtful Debt and Unfounded Income Case [Member]

Disclosure of Commitments and contingencies [Line Items]

Provision for collection of doubtful debts

S/ 70,277,000

$ 19,378,000

Provision for tax Dispute related to the amortization of the contractual rights

70,277,000

19,378,000

Legal Proceedings [Member]

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

5,400,000

3,000,000

Tax year 2009 and 2010 | Open tax procedure | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Declared tax deductions not recognized

S/ 76,023,000

$ 20,978,000

Compensation of tax losses

561,758,000

$ 155,010,000

Tax year 2014 [Member] | Open tax procedure | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Declared tax deductions not recognized

S/ 94,898,000

$ 26,186,000

Year 2007 [Member] | Open tax procedure | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Declared tax deductions not recognized

S/ 1,056,310,000

$ 291,476,000

Year 2008 [Member] | Open tax procedure | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Declared tax deductions not recognized

S/ 1,530,985,000

$ 422,457,000

Year 2009 [Member] | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Collection of debt forced amount

S/ 18,807,000

$ 5,190,000

Income tax liabilities

S/ 202,614,000

$ 55,909,000

Empresa de Generacin Huanza S.A

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 7,532,000

S/ 6,999,000

$ 2,080,000

$ 2,071,000

Empresa de Generacin Huanza S.A | Tax year 2014 [Member] | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Unrecognized Depreciation expense

S/ 27,532,000

$ 7,597,000

Rio Seco

Disclosure of Commitments and contingencies [Line Items]

Collection of debt forced amount

S/ 11,153,000

$ 3,279,000

Rio Seco | Omission of Payment of General Sales Tax [Member] | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 1,815,000

$ 501,000

San Jose Reservoir Trust [Member]

Disclosure of Commitments and contingencies [Line Items]

Outstanding commitments made by entity, related party transactions

$ 6,321,000

Other Subsidiaries [Member] | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Tax expense (income), continuing operations

9,485,000

$ 2,617,000

Minera La Zanja S.R.L. [Member] | Tax year 2013 and 2015 | SUNAT

Disclosure of Commitments and contingencies [Line Items]

Disallowance of development cost

S/ 3,185,000

$ 879,000

S/ 2,952,000

$ 815,000

Sindicato Minero de Orcopampa S.A., note 29(b) [Member]

Disclosure of Commitments and contingencies [Line Items]

Lease concession expense, Percent

10.00%

10.00%

S.M.R.L. Chaupiloma Dos de Cajamarca [Member] | Minera Yanacocha SRL and subsidiary [Member]

Disclosure of Commitments and contingencies [Line Items]

Royalty rate on net sales

3.00%

3.00%

Maximum | Cerro Verde [Member]

Disclosure of Commitments and contingencies [Line Items]

Royalty rate on net sales

3.00%

Commitments and contingencies_4

Commitments and contingencies - Environmental contingencies (Details)	12 Months Ended
	Dec. 31, 2020USD ($)item
OEFA [Member]
Disclosure of Commitments and contingencies [Line Items]
Potential fine, Per unit	$ 1,210
Minimum | OEFA [Member]
Disclosure of Commitments and contingencies [Line Items]
Number of units under violation	0
Potential fine	$ 0
Maximum | OEFA [Member]
Disclosure of Commitments and contingencies [Line Items]
Number of units under violation	3,667
Potential fine	$ 4,450,000
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Commitments and contingencies [Line Items]
Potential fine, Per unit	1,194
Minera Yanacocha SRL and subsidiary [Member] | Minimum
Disclosure of Commitments and contingencies [Line Items]
Potential fine	0
Minera Yanacocha SRL and subsidiary [Member] | Maximum
Disclosure of Commitments and contingencies [Line Items]
Potential fine	$ 40,209,000
Minera Yanacocha SRL and subsidiary [Member] | Maximum | OEFA [Member]
Disclosure of Commitments and contingencies [Line Items]
Number of units under violation | item	33,676

Commitments and contingencies_5

Commitments and contingencies - Open tax procedures (Details)	Nov. 13, 2020PEN (S/)	Nov. 13, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)
Disclosure of Commitments and contingencies [Line Items]
Compulsory collection of income tax			$ 736,912,000
Tax Assessments, penalties and interest expenses			442,302,000
Tax Assessments Estimated Possible Losses			$ 294,610,000
SUNAT | Year 2007 and 2008
Disclosure of Commitments and contingencies [Line Items]
Compulsory collection of income tax	S/ 1,567,297,000	$ 432,477,000
Tax Assessments, penalties and interest expenses	1,375,248,000	379,483,000
Collection of debt forced amount				S/ 72,065,000	$ 19,918,000
Tax Assessments Estimated Possible Losses	S/ 192,049,000	$ 52,994,000

Commitments and contingencies_6

Commitments and contingencies - Open tax procedures SUNAT (Details) - Jan. 05, 2021 - SUNAT	PEN (S/)installment	USD ($)
Disclosure of Commitments and contingencies [Line Items]
Number of equal monthly payments	66
Tax assessment value	S/ 1,505,948,000	$ 415,549,000
Percentage over the letters of guarantee amount	5.00%
Letters of guarantee outstanding, amount	S/ 1,580,126,000	$ 436,017,000

Commitments and contingencies_7

Commitments and contingencies - Open tax procedures - l (Details) - Twenty-Second Administrative Litigation Court - Year 2008 [Member]	Jan. 31, 2020PEN (S/)	Dec. 31, 2019	Apr. 30, 2019PEN (S/)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Jan. 31, 2020USD ($)	Apr. 30, 2019USD ($)
Disclosure of Commitments and contingencies [Line Items]
Percentage of injunction of tax debt	60.00%		60.00%
Letters of guarantee outstanding, amount			S/ 511,030,000				$ 141,013,000
Validity of letter of guarantee			12 months
Tax debt	S/ 892,682,000					$ 246,325,000
New guarantee contract
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee outstanding, amount				S/ 535,609,000	$ 147,795,000
Validity of letter of guarantee		12 months

Commitments and contingencies_8

Commitments and contingencies - Open tax procedures - ll (Details) - SUNAT - Year 2010 [Member]	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Dec. 04, 2020PEN (S/)	Dec. 04, 2020USD ($)
Disclosure of Commitments and contingencies [Line Items]
Tax debt			S/ 340,074,000	$ 93,839,000
Collection of debt forced amount	S/ 1,800,000	$ 498,000

Commitments and contingencies_9

Commitments and contingencies - Open tax procedures - lll (Details) - Jan. 05, 2021 - SUNAT	PEN (S/)installment	USD ($)
Disclosure of Commitments and contingencies [Line Items]
Number of equal monthly payments	66
Tax assessment value	S/ 1,505,948,000	$ 415,549,000
Percentage over the letters of guarantee amount	5.00%
Letters of guarantee outstanding, amount	S/ 1,580,126,000	436,017,000
Deferred payment of tax debt | Year 2010 [Member]
Disclosure of Commitments and contingencies [Line Items]
Number of equal monthly payments	66
Tax assessment value	S/ 339,928,000	93,799,000
Percentage over the letters of guarantee amount	5.00%
Letters of guarantee outstanding, amount	S/ 357,944,000	$ 98,770,000

Commitments and contingencie_10

Commitments and contingencies - Open tax procedures - lV (Details) - Year 2009 [Member] - SUNAT	Dec. 31, 2021PEN (S/)	Dec. 31, 2021USD ($)	Dec. 14, 2020PEN (S/)	Dec. 14, 2020USD ($)
Disclosure of Commitments and contingencies [Line Items]
Tax debt			S/ 202,614,000	$ 55,909,000
Collection of debt forced amount	S/ 18,807,000	$ 5,190,000

Commitments and contingencie_11

Commitments and contingencies - Open tax procedures - V (Details) - SUNAT	Jan. 14, 2021PEN (S/)installment	Jan. 05, 2021PEN (S/)installment	Jan. 14, 2021USD ($)	Jan. 05, 2021USD ($)
Disclosure of Commitments and contingencies [Line Items]
Number of equal monthly payments		66
Tax assessment value		S/ 1,505,948,000		$ 415,549,000
Percentage over the letters of guarantee amount		5.00%
Letters of guarantee outstanding, amount		S/ 1,580,126,000		$ 436,017,000
Deferred payment of tax debt | Year 2009 [Member]
Disclosure of Commitments and contingencies [Line Items]
Number of equal monthly payments	66
Tax assessment value	S/ 184,922,000		$ 51,027,000
Percentage over the letters of guarantee amount	5.00%
Letters of guarantee outstanding, amount	S/ 194,398,000		$ 53,642,000

Commitments and contingencie_12

Commitments and contingencies - Open tax procedures - Vl (Details) - Year 2009 [Member] - Twenty-Second Administrative Litigation Court	Jan. 14, 2020PEN (S/)	May 31, 2019PEN (S/)	Jan. 14, 2020USD ($)	May 31, 2019USD ($)
Disclosure of Commitments and contingencies [Line Items]
Percentage of injunction of tax debt		60.00%
Letters of guarantee outstanding, amount		S/ 171,791,000		$ 47,404,000
Validity of letter of guarantee		12 months
New guarantee contract
Disclosure of Commitments and contingencies [Line Items]
Percentage of injunction of tax debt	60.00%
Tax debt	S/ 196,485,000		$ 54,218,000
Letters of guarantee outstanding, amount	S/ 117,891,000		$ 32,531,000

Commitments and contingencie_13

Commitments and contingencies - Income tax declaration for 2014 (Details)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Dec. 31, 2018PEN (S/)	Dec. 31, 2018USD ($)
Disclosure of Commitments and contingencies [Line Items]
Declared tax deductions not recognized		$ 1,100,000,000
Contingent liability	S/ 43,462,000	$ 11,993,000
SUNAT | Tax year 2014 [Member] | Open tax procedure
Disclosure of Commitments and contingencies [Line Items]
Declared tax deductions not recognized			S/ 94,898,000	$ 26,186,000

Commitments and contingencie_14

Commitments and contingencies - Income tax declaration for 2013 (Details)	12 Months Ended
	Dec. 31, 2019PEN (S/)	Dec. 31, 2019USD ($)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Nov. 17, 2020PEN (S/)	Nov. 17, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018PEN (S/)	Dec. 31, 2018USD ($)
Disclosure of Commitments and contingencies [Line Items]
Declared tax deductions not recognized				$ 1,100,000,000
Contingent liability			S/ 43,462,000	11,993,000
SUNAT | Open tax procedure
Disclosure of Commitments and contingencies [Line Items]
Payments of tax debt					S/ 4,744,000	$ 1,311,000
SUNAT | Year 2013 [Member] | Open tax procedure
Disclosure of Commitments and contingencies [Line Items]
Declared tax deductions not recognized	S/ 148,730,000						$ 41,040,000
Contingent liability			S/ 65,751,000	$ 18,143,000
SUNAT | Tax year 2014 [Member] | Open tax procedure
Disclosure of Commitments and contingencies [Line Items]
Declared tax deductions not recognized								S/ 94,898,000	$ 26,186,000
Disallowance of bonus paid to contractors	S/ 2,067,000	$ 570,000

Commitments and contingencie_15

Commitments and contingencies - Subsidiaries - Sociedad Minera El Brocal S.A.A (Details)

Dec. 30, 2020PEN (S/)item

Dec. 30, 2020USD ($)item

Dec. 18, 2020PEN (S/)

Dec. 18, 2020USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019PEN (S/)item

Jan. 07, 2021PEN (S/)

Jan. 07, 2021USD ($)

Jan. 05, 2021PEN (S/)

Jan. 05, 2021USD ($)

Dec. 31, 2020PEN (S/)

Dec. 31, 2020USD ($)

Dec. 30, 2020USD ($)

Jan. 27, 2020PEN (S/)

Jan. 27, 2020USD ($)

Dec. 31, 2019USD ($)

Jan. 08, 2015PEN (S/)

Jan. 08, 2015USD ($)

Jun. 18, 2014PEN (S/)

Jun. 18, 2014USD ($)

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 43,462,000

$ 11,993,000

El Brocal

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 5,220,000

$ 1,445,000

Amount disbursed recorded as an account receivable

S/ 7,871,000

$ 2,172,000

SUNAT

Disclosure of Commitments and contingencies [Line Items]

Tax assessment value

S/ 1,505,948,000

$ 415,549,000

SUNAT | El Brocal | Development cost of Smelter Project

Disclosure of Commitments and contingencies [Line Items]

Depreciation of the tailings

S/ 6,108,000

$ 1,661,000

Year 2011 [Member] | SUNAT | El Brocal

Disclosure of Commitments and contingencies [Line Items]

Income tax liabilities

S/ 8,333,000

$ 2,303,000

Year 2012 [Member] | SUNAT | El Brocal

Disclosure of Commitments and contingencies [Line Items]

Tax assessment value

S/ 4,030,000

$ 1,112,000

Tax year 2014 [Member] | SUNAT | El Brocal

Disclosure of Commitments and contingencies [Line Items]

Number of tailings depreciation rate questioned

2

2

Tax year 2014 [Member] | SUNAT | El Brocal | Development cost of Smelter Project

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 10,902,000

$ 3,008,000

Development cost

S/ 16,582,000

$ 4,576,000

Year 2015 [Member] | SUNAT | El Brocal

Disclosure of Commitments and contingencies [Line Items]

Number of tailings depreciation rate questioned

2

Amount disbursed recorded as an account receivable

S/ 1,456,000

$ 402,000

Year 2015 [Member] | SUNAT | El Brocal | Development cost of Smelter Project

Disclosure of Commitments and contingencies [Line Items]

Contingent liability

S/ 3,412,000

$ 942,000

Development cost

$ 3,844,000

S/ 13,930,000

Commitments and contingencie_16

Commitments and contingencies - Associates - Cerro Verde (Details) $ in Millions, S/ in Billions	Jan. 05, 2021installment	Jun. 23, 2004	Dec. 31, 2020PEN (S/)installment	Dec. 31, 2020USD ($)installment
SUNAT
Disclosure of Commitments and contingencies [Line Items]
Number Of Equal Monthly Payments | installment	66
SUNAT | Sociedad Minera Cerro Verde S.A.A. [Member] | December 2006 to December 2013
Disclosure of Commitments and contingencies [Line Items]
Amount of the assessment, including interest and penalties			S/ 2.8	$ 771.2
Deferred Interest, Interest And Penalties | $				$ 496.5
Number Of Equal Monthly Payments | installment			66	66
Payment of Litigation Settlement Amount			S/ 1.6	$ 476.7
Payment of litigation amount on exchange rate basis | $				$ 435.2
Minimum | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Commitments and contingencies [Line Items]
Royalty rate on net sales		1.00%
Maximum | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Commitments and contingencies [Line Items]
Royalty rate on net sales		3.00%
New guarantee contract | Minimum | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Commitments and contingencies [Line Items]
Royalty rate on net sales		1.00%
New guarantee contract | Maximum | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Commitments and contingencies [Line Items]
Royalty rate on net sales		12.00%

Commitments and contingencie_17

Commitments and contingencies - Yanacocha - Tax Dispute related to the amortization of the contractual rights (Details)	Jan. 18, 2019Vote	Dec. 31, 2003	Dec. 31, 2002	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)
Disclosure of Commitments and contingencies [Line Items]
Withholding tax rate		12.00%	30.00%
Withholding tax, Old Tax Rate				12.00%
Contingent liability						S/ 43,462,000	$ 11,993,000
Minera Yanacocha S.R.L
Disclosure of Commitments and contingencies [Line Items]
Withholding tax rate		12.00%
Withholding tax, New Tax Rate				30.00%
Payment to acquire contractual positions in mining concession agreements				$ 29,000,000
Number of votes cast against | Vote	3
Number of votes in favorable | Vote	2
Minimum number of votes required for winning the case | Vote	4
Contingent liability					$ 8,000,000
Interest payable					16,800,000
Penalty payable					4,000,000
Potential liability in the form of fines and interest					61,000,000
Amount related to workers participation				$ 2,100,000
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Commitments and contingencies [Line Items]
Payment to acquire contractual positions in mining concession agreements					$ 29,000,000

Commitments and contingencie_18

Commitments and contingencies - Letters of credit (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020PEN (S/)shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee	S/ 1,780,126,238	$ 140	$ 121.4
Consorcio Energtico de Huancavelica S.A.
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	186,413,288
Inversiones Colquijirca S.A.
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	90,846,185
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	68,556,629
Minera Yanacocha S.R.L
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	558,044,001
Empresa de Generacin Huanza S.A
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	1
Sociedad Minera El Brocal S.A.A
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	4,965,941
Compaa Minera Condesa S.A
Disclosure of Commitments and contingencies [Line Items]
Security interest on number of shares owned in favor of the financial entities	21,130,260

Commitments and contingencie_19

Commitments and contingencies - Letters fo credit - Additional information (Details)	12 Months Ended
	Dec. 31, 2020PEN (S/)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of Commitments and contingencies [Line Items]
Maximum amount of loans		$ 50,000,000
Minimum coverage ratio	1.6
Letters of guarantee	S/ 1,780,126,238	140,000,000	$ 121,400,000
Regional Governments and Others [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee		491,000,000
Letters Of Credit Regional Governments And Others [Member]
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee		852,000	$ 361,000
Tax years 2008 and 2009
Disclosure of Commitments and contingencies [Line Items]
Letters of guarantee	S/ 653,500,000	$ 180,300,000

Transactions with associates _2

Transactions with associates companies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Transactions with associates companies [Line Items]
Royalty income	$ 18,638	$ 22,297	$ 20,385
Energy income	3,173	3,181	3,002
Supplies income	890	1,259	27
Minerals income	211	683	1,321
Revenue from mining concessions, property, plant and equipment	0	11	30
Purchase of supplies from related party	55	9	44
Sales of services	20,285	23,661	24,001
Interest income on loans made to related party	114	86	92
Dividends paid to non-controlling shareholders	5,140	6,500	5,560
Energy transmission [Member]
Disclosure Of Transactions with associates companies [Line Items]
Sales of services	320	287	393
Engineering service [Member]
Disclosure Of Transactions with associates companies [Line Items]
Sales of services	0	0	348
Operation and maintenance [Member]
Disclosure Of Transactions with associates companies [Line Items]
Sales of services	280	287	290
Administrative and Management services [Member]
Disclosure Of Transactions with associates companies [Line Items]
Sales of services	672	359	214
Constructions services [Member]
Disclosure Of Transactions with associates companies [Line Items]
Sales of services	72	4	0
Compania Minera Coimolache S.A. [Member]
Disclosure Of Transactions with associates companies [Line Items]
Dividends received and collected	3,649	4,011	7,623
Sociedad Minera Cerro Verde Saa [Member]
Disclosure Of Transactions with associates companies [Line Items]
Dividends received and collected	0	29,377	39,169
Transportadora Callao SA [Member]
Disclosure Of Transactions with associates companies [Line Items]
Interest income on loans made to related party	114	86	92
Newmont Peru Limited [Member]
Disclosure Of Transactions with associates companies [Line Items]
Dividends paid to non-controlling shareholders	$ 5,140	$ 6,500	$ 5,560

Transactions with associates _3

Transactions with associates companies - Accounts receivable, payable from/to associates (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Transactions with associates companies [Line Items]
Trade receivables	$ 159,840	$ 204,096
Other Receivables	173,337	172,131
Total trade and other payables total	328	51
Associates [member]
Disclosure Of Transactions with associates companies [Line Items]
Trade receivables	6,073	6,247
Other Receivables	2,312	2,967
Trade and other receivable total	8,385	9,214
Trade payables	141	29
Others [Member]
Disclosure Of Transactions with associates companies [Line Items]
Other payables	36	51
Minera Yanacocha S.R.L. [Member] | Associates [member]
Disclosure Of Transactions with associates companies [Line Items]
Trade receivables	5,604	5,920
Compania Minera Coimolache S.A. [Member]
Disclosure Of Transactions with associates companies [Line Items]
Other payables	292	0
Compania Minera Coimolache S.A. [Member] | Associates [member]
Disclosure Of Transactions with associates companies [Line Items]
Trade receivables	469	327
Other Receivables	277	1,016
Trade payables	141	27
Sociedad Minera Cerro Verde Saa [Member] | Associates [member]
Disclosure Of Transactions with associates companies [Line Items]
Trade payables	0	2
Transportadora Callao SA [Member] | Associates [member]
Disclosure Of Transactions with associates companies [Line Items]
Other Receivables	$ 2,035	$ 1,951

Transactions with associates _4

Transactions with associates companies - Key executives' compensation (Details) - Key management personnel of entity or parent [member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Transactions with associates companies [Line Items]
Directors remuneration	$ 1,797	$ 1,746
Salaries	856	1,020
Provision for bonus to officers	5,828	6,205
Total compensation	8,481	8,971
Disbursement of salaries	11,586	12,690
Disbursement of directors' compensations	1,797	1,746
Key management personnel compensation	$ 13,383	$ 14,436

Transactions with related com_2

Transactions with related companies - Related income taxes assumed (Details) - Minera Yanacocha SRL and subsidiary [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	$ 2,300	$ 598
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	12,374	11,426
S.M.R.L. Chaupiloma Dos de Cajamarca c [Member]
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	4,596	4,863
NVL, USA Limited, Delaware [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	156	102
Newmont USA Limited [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	435	144
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	2,366	1,034
Oroplata S.A.
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	254	0
Newmont International Service Limited [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	1,431	168
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	4,227	3,297
Suriname Gold Company [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	0	135
Newmont Global Employment Limited [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	5	20
Newmont Peru S.R.L [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	22	26
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	1,033	1,101
Newmont Technologies Limited [Member]
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	142	1,042
Newmont USA Limited Carlin [Member]
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	0	3
Others [Member]
Balance receivable from related parties [Abstract]
Amounts receivable, related party transactions	(3)	3
Balance payable to related parties [Abstract]
Amounts payable, related party transactions	$ 10	$ 86

Transactions with related com_3

Transactions with related companies - Transactions with related parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions [Abstract]
Royalty Expense	$ 11,749	$ 12,832	$ 21,388
Minera Yanacocha SRL and subsidiary [Member]
Related Party Transactions [Abstract]
Royalty Expense		49,000	3,600
Minera Yanacocha SRL and subsidiary [Member] | S.M.R.L. Chaupiloma Dos de Cajamarca [Member]
Related Party Transactions [Abstract]
Royalty Expense	18,638	22,297	20,385
Minera Yanacocha SRL and subsidiary [Member] | Newmont Peru S.R.L [Member]
Services rendered by [Abstract]
Expense arising from exploration for and evaluation of mineral resources	9,017	10,729	12,837
Minera Yanacocha SRL and subsidiary [Member] | Newmont USA Limited [Member]
Services rendered by [Abstract]
Expense arising from exploration for and evaluation of mineral resources	10,214	4,118	5,381
Minera Yanacocha SRL and subsidiary [Member] | Newmont International Services [Member]
Services rendered by [Abstract]
Expense arising from exploration for and evaluation of mineral resources	$ 5,264	$ 10,822	$ 5,181

Transactions with associates _5

Transactions with associates companies - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Transactions with associates companies [Line Items]
LIBOR interest rate on accounts receivable	6.25%
Related parties [member]
Disclosure Of Transactions with associates companies [Line Items]
Amounts receivable, related party transactions	$ 7,000	$ 31,000
Minera Yanacocha S.R.L. [Member]
Disclosure Of Transactions with associates companies [Line Items]
Royalty percentage	3

Disclosure of information on _3

Disclosure of information on segments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Operating income
Sale of goods	$ 637,619,000	$ 821,930,000	$ 1,106,329,000
Sale of services	20,285,000	23,661,000	24,001,000
Royalty income	18,638,000	22,297,000	20,385,000
Total operating income	676,542,000	867,888,000	1,150,715,000
Operating costs
Cost of sales, excluding depreciation and amortization	(393,888,000)	(512,874,000)	(613,381,000)
Unabsorbed cost due to production stoppage	(27,758,000)	0	0
Cost of services	(1,554,000)	(3,378,000)	(4,318,000)
Exploration in operating units	(28,044,000)	(44,163,000)	(89,730,000)
Depreciation and amortization	(189,620,000)	(226,335,000)	(238,879,000)
Mining royalties	(11,749,000)	(12,832,000)	(21,388,000)
Total operating costs	(652,613,000)	(799,582,000)	(967,696,000)
Gross profit (loss)	23,929,000	68,306,000	183,019,000
Operating expenses, net
Administrative expenses	(67,185,000)	76,297,000	(77,099,000)
Selling expenses	(18,533,000)	(24,313,000)	(26,948,000)
Write-off of stripping activity asset	(11,633,000)	0	0
Exploration in non-operating areas	(8,475,000)	(11,879,000)	(36,307,000)
Reversal of contingent and others			(11,248,000)
Impairment recovery (loss) of long-lived assets	2,083,000	(2,083,000)	5,693,000
Impairment loss of long-lived assets				$ 0
Provision for contingencies and others	(4,150,000)	2,968,000	11,248,000
Other, net	2,690,000	14,715,000	(1,308,000)
Total operating expenses, net	(105,203,000)	(126,319,000)	(124,721,000)
Total operating expenses, net		(126,319,000)
Operating profit (loss)	(81,274,000)	(58,013,000)	58,298,000
Other income (expense),net
Finance income	2,411,000	9,675,000	9,685,000
Net gain (loss) from currency exchange difference	(4,116,000)	(734,000)	(1,384,000)
Share in the results of associates and joint ventures	(9,517,000)	47,710,000	1,144,000
Finance costs	(37,822,000)	(42,173,000)	(38,422,000)
Profit (loss) before income tax	(130,318,000)	(43,535,000)	27,033,000
Income tax expense or income	25,430,000	(25,590,000)	26,879,000
Current income tax	(9,924,000)	(11,911,000)	(16,882,000)
Deferred Income tax	(15,506,000)	37,501,000	(9,997,000)
Profit (loss) from continued operations	(155,748,000)	(17,945,000)	154,000
Loss from discontinued operations	5,409,000	(10,514,000)	(11,808,000)
Profit for the period	(150,339,000)	(28,459,000)	(11,654,000)
Total assets	3,979,617,000	4,107,274,000	4,217,221,000
Total liability	1,179,760,000	1,139,074,000	1,187,656,000
Other segment information
Investment in associates	1,488,775,000	1,488,247,000	1,473,382,000
Capital Expenditures	71,546,000	102,627,000	111,270,000
Changes in estimates of mine closures plans	31,558,000	26,722,000	42,874,000
Fair value for contingent consideration liability	(5,690,000)	(655,000)	1,815,000
Accounts receivable from sale of assets	8,233,000	21,648,000	2,715,000
Exploration and development mining projects [Member]
Operating income
Sale of goods		0
Sale of services		0
Royalty income		0
Total operating income		0
Operating costs
Cost of sales, excluding depreciation and amortization		0
Cost of services		0
Exploration in operating units		0
Depreciation and amortization		0
Mining royalties		0
Total operating costs		0
Gross profit (loss)		0
Operating expenses, net
Administrative expenses	(1,649,000)	2,416,000	(3,143,000)
Selling expenses		0
Exploration in non-operating areas		90,000	(2,883,000)
Reversal of contingent and others			(6,130,000)
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	33,000	(40,000)
Other, net	(593,000)	419,000	138,000
Total operating expenses, net	(2,209,000)		242,000
Total operating expenses, net		(2,965,000)
Operating profit (loss)	(2,209,000)	(2,965,000)	242,000
Other income (expense),net
Finance income	1,000	14,000
Net gain (loss) from currency exchange difference	(808,000)	(156,000)	(846,000)
Share in the results of associates and joint ventures		0
Finance costs	(387,000)	(561,000)	(222,000)
Profit (loss) before income tax	(3,403,000)	(3,668,000)	(826,000)
Current income tax		0
Deferred Income tax		0
Profit (loss) from continued operations	(3,403,000)	(3,668,000)	(826,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	425,731,000	398,838,000	372,344,000
Total liability	22,695,000	23,223,000	18,986,000
Other segment information
Investment in associates		0
Capital Expenditures	24,648,000	26,494,000	17,141,000
Changes in estimates of mine closures plans	808,000	0	9,063,000
Fair value for contingent consideration liability		0	1,815,000
Accounts receivable from sale of assets		0
Energy generation and transmission [Member]
Operating income
Sale of goods		0
Sale of services	48,254,000	59,690,000	62,962,000
Royalty income		0
Total operating income	48,254,000	59,690,000	62,962,000
Operating costs
Cost of sales, excluding depreciation and amortization		0
Cost of services	(17,868,000)	(22,209,000)	(25,499,000)
Exploration in operating units		0
Depreciation and amortization	(9,347,000)	(10,075,000)	(10,248,000)
Mining royalties		0
Total operating costs	(27,215,000)	(32,284,000)	(35,747,000)
Gross profit (loss)	21,039,000	27,406,000	27,215,000
Operating expenses, net
Administrative expenses	(2,863,000)	4,073,000	(3,972,000)
Selling expenses	(784,000)	(1,115,000)	(1,173,000)
Exploration in non-operating areas		0
Reversal of contingent and others			56,000
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	501,000	166,000
Other, net	796,000	(13,813,000)	562,000
Total operating expenses, net	(2,350,000)		(4,639,000)
Total operating expenses, net		8,791,000
Operating profit (loss)	18,689,000	36,197,000	22,576,000
Other income (expense),net
Finance income	1,622,000	263,000	179,000
Net gain (loss) from currency exchange difference	(402,000)	62,000	(346,000)
Share in the results of associates and joint ventures	4,331,000	10,374,000	(8,589,000)
Finance costs	(4,690,000)	(7,483,000)	(7,576,000)
Profit (loss) before income tax	19,550,000	39,413,000	23,422,000
Current income tax	(780,000)	4,044,000
Deferred Income tax	(9,388,000)	(5,515,000)	(7,584,000)
Profit (loss) from continued operations	9,382,000	29,854,000	15,838,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	357,830,000	382,481,000	366,354,000
Total liability	166,396,000	183,426,000	197,152,000
Other segment information
Investment in associates	94,117,000	89,786,000
Capital Expenditures	371,000	223,000	118,000
Changes in estimates of mine closures plans		0
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		21,023,000
Insurance brokerage [Member]
Operating income
Sale of goods		0
Sale of services	14,753,000	15,687,000	14,986,000
Royalty income		0
Total operating income	14,753,000	15,687,000	14,986,000
Operating costs
Cost of sales, excluding depreciation and amortization		0
Cost of services		0
Exploration in operating units		0
Depreciation and amortization		0
Mining royalties		0
Total operating costs		0
Gross profit (loss)	14,753,000	15,687,000	14,986,000
Operating expenses, net
Administrative expenses	(10,939,000)	11,607,000	(11,900,000)
Selling expenses		0
Exploration in non-operating areas		0
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others		0
Other, net		0
Total operating expenses, net	(10,939,000)		(11,900,000)
Total operating expenses, net		(11,607,000)
Operating profit (loss)	3,814,000	4,080,000	3,086,000
Other income (expense),net
Finance income	27,000	15,000
Net gain (loss) from currency exchange difference	65,000	(119,000)	19,000
Share in the results of associates and joint ventures		0
Finance costs	(55,000)	(89,000)	(2,000)
Profit (loss) before income tax	3,851,000	3,887,000	3,103,000
Current income tax	(1,475,000)	1,223,000
Deferred Income tax	172,000	91,000
Profit (loss) from continued operations	2,548,000	2,755,000	3,103,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	15,932,000	13,822,000	12,154,000
Total liability	5,569,000	6,007,000	4,597,000
Other segment information
Investment in associates		0
Capital Expenditures	106,000	85,000
Changes in estimates of mine closures plans		0
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Rental of mining concessions [Member]
Operating income
Sale of goods		0
Sale of services		0
Royalty income	18,638,000	22,297,000	20,385,000
Total operating income	18,638,000	22,297,000	20,385,000
Operating costs
Cost of sales, excluding depreciation and amortization		0
Cost of services		0
Exploration in operating units		0
Depreciation and amortization		0
Mining royalties		0
Total operating costs		0
Gross profit (loss)	18,638,000	22,297,000	20,385,000
Operating expenses, net
Administrative expenses	(112,000)	188,000	(220,000)
Selling expenses		0
Exploration in non-operating areas		0
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others		0
Other, net	63,000	(135,000)
Total operating expenses, net	(49,000)		(220,000)
Total operating expenses, net		(53,000)
Operating profit (loss)	18,589,000	22,244,000	20,165,000
Other income (expense),net
Finance income	9,000	30,000	21,000
Net gain (loss) from currency exchange difference	(49,000)	(9,000)	18,000
Share in the results of associates and joint ventures		0
Finance costs	(2,000)	(4,000)	(11,000)
Profit (loss) before income tax	18,547,000	22,261,000	20,193,000
Current income tax	(5,543,000)	6,546,000	(6,025,000)
Deferred Income tax		0
Profit (loss) from continued operations	13,004,000	15,715,000	14,168,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	6,813,000	6,252,000	7,154,000
Total liability	2,694,000	2,286,000	2,653,000
Other segment information
Investment in associates		0
Capital Expenditures		0
Changes in estimates of mine closures plans		0
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Holding of investment in shares [Member]
Operating income
Sale of goods		0
Sale of services	607	615,000	615,000
Royalty income		0
Total operating income	607	615,000	615,000
Operating costs
Cost of sales, excluding depreciation and amortization		0
Cost of services		0
Exploration in operating units		0
Depreciation and amortization		0
Mining royalties		0
Total operating costs		0
Gross profit (loss)	607	615,000	615,000
Operating expenses, net
Administrative expenses	(398)	363,000	(512,000)
Selling expenses		0
Exploration in non-operating areas		0
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others		0
Other, net	(10)	(79,000)	2,773,000
Total operating expenses, net	(408)		2,261,000
Total operating expenses, net		(284,000)
Operating profit (loss)	199	331,000	2,876,000
Other income (expense),net
Finance income		10,000	8,000
Net gain (loss) from currency exchange difference	91	(9,000)	2,000
Share in the results of associates and joint ventures	(67,018)	(53,143,000)	25,517,000
Finance costs	(1)	(6,000)	(25,000)
Profit (loss) before income tax	(66,729)	(52,817,000)	(22,656,000)
Current income tax	(177)	39,000	(444,000)
Deferred Income tax		0
Profit (loss) from continued operations	(66,906)	(52,856,000)	(23,100,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	362,419	458,212,000	520,484,000
Total liability	340	101,000	603,000
Other segment information
Investment in associates	159,529	232,154,000
Capital Expenditures		0
Changes in estimates of mine closures plans		0
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0	1,622,000
Industrial activities [Member]
Operating income
Sale of goods	36,541,000	6,046,000	6,655,000
Sale of services	15,335,000	19,557,000	19,908,000
Royalty income		0
Total operating income	51,876,000	25,603,000	26,563,000
Operating costs
Cost of sales, excluding depreciation and amortization	(38,607,000)	(8,517,000)	(6,280,000)
Unabsorbed cost due to production stoppage	(597,000)
Cost of services	(5,075,000)	(6,167,000)	(8,966,000)
Exploration in operating units		0
Depreciation and amortization	(10,876,000)	(11,979,000)	(11,483,000)
Mining royalties		0
Total operating costs	(55,155,000)	(26,663,000)	(26,729,000)
Gross profit (loss)	(3,279,000)	(1,060,000)	(166,000)
Operating expenses, net
Administrative expenses	(1,498,000)	1,310,000	(1,627,000)
Selling expenses	(687,000)	(1,324,000)	(924,000)
Exploration in non-operating areas		0
Reversal of contingent and others			(2,000)
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	9,000	0
Other, net	989,000	(341,000)	194,000
Total operating expenses, net	(1,187,000)		(2,355,000)
Total operating expenses, net		(2,293,000)
Operating profit (loss)	(4,466,000)	(3,353,000)	(2,521,000)
Other income (expense),net
Finance income	38,000	277,000	127,000
Net gain (loss) from currency exchange difference	(984,000)	208,000	(482,000)
Share in the results of associates and joint ventures		0
Finance costs	(175,000)	(990,000)	(932,000)
Profit (loss) before income tax	(5,587,000)	(3,858,000)	(3,808,000)
Current income tax	(171,000)	0	(2,000)
Deferred Income tax	(347,000)	1,554,000	106,000
Profit (loss) from continued operations	(6,105,000)	(2,304,000)	(3,704,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	90,337,000	104,335,000	106,391,000
Total liability	13,025,000	20,918,000	20,671,000
Other segment information
Investment in associates		0
Capital Expenditures	4,611,000	1,443,000	1,816,000
Changes in estimates of mine closures plans		0
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Corporates [Member]
Operating expenses, net
Administrative expenses	(5,965,000)		2,377,000
Exploration in non-operating areas	(3,623,000)		(4,091,000)
Reversal of contingent and others			111,000
Provision for contingencies and others	(3,242,000)
Other, net	1,186,000		(2,235,000)
Total operating expenses, net	(11,644,000)		(4,060,000)
Operating profit (loss)	(11,644,000)		(4,060,000)
Other income (expense),net
Finance income	1,405,000		9,293,000
Net gain (loss) from currency exchange difference	(1,576,000)		(206,000)
Share in the results of associates and joint ventures	(28,861,000)		(15,081,000)
Finance costs	(21,322,000)		(17,194,000)
Profit (loss) before income tax	(61,998,000)		2,914,000
Deferred Income tax	(2,888,000)		9,514,000
Profit (loss) from continued operations	(64,886,000)		12,428,000
Total assets	2,343,010,000		2,421,547,000
Total liability	410,197,000		425,893,000
Other segment information
Investment in associates	2,040,598,000		1,473,382,000
Capital Expenditures	933,000		2,968,000
Changes in estimates of mine closures plans			(341,000)
Fair value for contingent consideration liability	(5,690,000)
Accounts receivable from sale of assets	8,233,000		1,093,000
Ucchuchacua [Member]
Operating income
Sale of goods	90,420,000	186,016,000	257,282,000
Sale of services		0
Royalty income		0
Total operating income	90,420,000	186,016,000	257,282,000
Operating costs
Cost of sales, excluding depreciation and amortization	(100,097,000)	(128,523,000)	(151,817,000)
Unabsorbed cost due to production stoppage	(9,630,000)
Cost of services		0
Exploration in operating units	(6,731,000)	(8,917,000)	(20,898,000)
Depreciation and amortization	(16,752,000)	(21,053,000)	(26,181,000)
Mining royalties	(1,068,000)	(1,955,000)	(2,243,000)
Total operating costs	(134,278,000)	(160,448,000)	(201,139,000)
Gross profit (loss)	(43,858,000)	25,568,000	56,143,000
Operating expenses, net
Administrative expenses	(9,140,000)	16,115,000	(24,119,000)
Selling expenses	(3,806,000)	(6,876,000)	(8,213,000)
Exploration in non-operating areas	(27,000)	2,534,000	(18,339,000)
Reversal of contingent and others			(6,784,000)
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	28,000	(183,000)
Other, net	2,776,000	4,147,000	(5,953,000)
Total operating expenses, net	(10,169,000)		(49,840,000)
Total operating expenses, net		(29,855,000)
Operating profit (loss)	(54,027,000)	(4,287,000)	6,303,000
Other income (expense),net
Finance income		0
Net gain (loss) from currency exchange difference	(72,000)	(124,000)	196,000
Share in the results of associates and joint ventures		0
Finance costs	(268,000)	(532,000)	(308,000)
Profit (loss) before income tax	(54,367,000)	(4,943,000)	6,191,000
Current income tax	(60,000)	0	(768,000)
Deferred Income tax		0
Profit (loss) from continued operations	(54,427,000)	(4,943,000)	5,423,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	145,287,000	146,486,000	126,374,000
Total liability	62,024,000	42,265,000	45,227,000
Other segment information
Investment in associates		0
Capital Expenditures	10,443,000	31,479,000	18,429,000
Changes in estimates of mine closures plans	11,745,000	176,000	4,101,000
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Orcopampa [Member]
Operating income
Sale of goods	77,825,000	58,902,000	153,003,000
Sale of services		0
Royalty income		0
Total operating income	77,825,000	58,902,000	153,003,000
Operating costs
Cost of sales, excluding depreciation and amortization	(37,139,000)	(54,739,000)	(97,006,000)
Unabsorbed cost due to production stoppage	(3,849,000)
Cost of services		0
Exploration in operating units	(5,198,000)	(9,040,000)	(29,563,000)
Depreciation and amortization	(8,102,000)	(7,563,000)	(8,802,000)
Mining royalties	(6,943,000)	(5,220,000)	(13,669,000)
Total operating costs	(61,231,000)	(76,562,000)	(149,040,000)
Gross profit (loss)	16,594,000	(17,660,000)	3,963,000
Operating expenses, net
Administrative expenses	(7,948,000)	5,209,000	(15,100,000)
Selling expenses	(436,000)	(258,000)	(775,000)
Exploration in non-operating areas		0
Reversal of contingent and others			121,000
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	(322,000)	1,000
Other, net	(1,922,000)	8,104,000	(3,386,000)
Total operating expenses, net	(10,628,000)		(19,382,000)
Total operating expenses, net		(13,570,000)
Operating profit (loss)	5,966,000	(31,230,000)	(15,419,000)
Other income (expense),net
Finance income		0
Net gain (loss) from currency exchange difference	126,000	76,000	168,000
Share in the results of associates and joint ventures		0
Finance costs	(913,000)	(733,000)	(395,000)
Profit (loss) before income tax	5,179,000	(31,887,000)	(15,646,000)
Current income tax	(55,000)	0	(559,000)
Deferred Income tax		0
Profit (loss) from continued operations	5,124,000	(31,887,000)	(16,205,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	47,855,000	46,750,000	39,725,000
Total liability	46,787,000	36,945,000	30,749,000
Other segment information
Investment in associates		0
Capital Expenditures	1,064,000	1,323,000	6,225,000
Changes in estimates of mine closures plans	5,042,000	10,493,000	1,003,000
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Julcani [Member]
Operating income
Sale of goods	32,034,000	40,082,000	34,104,000
Sale of services		0
Royalty income		0
Total operating income	32,034,000	40,082,000	34,104,000
Operating costs
Cost of sales, excluding depreciation and amortization	(16,679,000)	(26,586,000)	(26,558,000)
Unabsorbed cost due to production stoppage	(5,167,000)
Cost of services		0
Exploration in operating units	(3,167,000)	(5,864,000)	(8,646,000)
Depreciation and amortization	(6,412,000)	(9,178,000)	(3,353,000)
Mining royalties	(278,000)	(418,000)	(237,000)
Total operating costs	(31,703,000)	(42,046,000)	(38,794,000)
Gross profit (loss)	331,000	(1,964,000)	(4,690,000)
Operating expenses, net
Administrative expenses	(3,288,000)	3,561,000	(2,524,000)
Selling expenses	(438,000)	(403,000)	(356,000)
Exploration in non-operating areas		0
Reversal of contingent and others			(947,000)
Impairment recovery (loss) of long-lived assets	2,083,000	(2,083,000)
Provision for contingencies and others	(195,000)	(148,000)
Other, net	(212,000)	776,000	(1,050,000)
Total operating expenses, net	(2,050,000)		(2,983,000)
Total operating expenses, net		(6,971,000)
Operating profit (loss)	(1,719,000)	(8,935,000)	(7,673,000)
Other income (expense),net
Finance income		0
Net gain (loss) from currency exchange difference	78,000	3,000	8,000
Share in the results of associates and joint ventures		0
Finance costs	(636,000)	(1,002,000)	(95,000)
Profit (loss) before income tax	(2,277,000)	(9,934,000)	(7,760,000)
Current income tax	(16,000)	0	(72,000)
Deferred Income tax		0
Profit (loss) from continued operations	(2,293,000)	(9,934,000)	(7,832,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	45,999,000	41,858,000	39,537,000
Total liability	34,431,000	35,045,000	29,469,000
Other segment information
Investment in associates		0
Capital Expenditures	1,059,000	1,559,000	2,984,000
Changes in estimates of mine closures plans	771,000	2,430,000	16,484,000
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Colquijirca [Member]
Operating income
Sale of goods	255,275,000	299,252,000	333,560,000
Sale of services		0
Royalty income		0
Total operating income	255,275,000	299,252,000	333,560,000
Operating costs
Cost of sales, excluding depreciation and amortization	(170,148,000)	(223,998,000)	(216,560,000)
Unabsorbed cost due to production stoppage	(10,216,000)
Cost of services		0
Exploration in operating units	(5,790,000)	(8,727,000)	(9,996,000)
Depreciation and amortization	(59,433,000)	(74,335,000)	(67,666,000)
Mining royalties	(1,902,000)	(2,953,000)	(2,345,000)
Total operating costs	(247,489,000)	(310,013,000)	(296,567,000)
Gross profit (loss)	7,786,000	(10,761,000)	36,993,000
Operating expenses, net
Administrative expenses	(7,536,000)	8,865,000	(9,906,000)
Selling expenses	(9,070,000)	(10,856,000)	(12,201,000)
Write-off of stripping activity asset	(11,633,000)
Exploration in non-operating areas	(86,000)	2,011,000	(7,199,000)
Reversal of contingent and others			3,711,000
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	(1,145,000)	2,079,000
Other, net	4,547,000	6,568,000	32,565,000
Total operating expenses, net	(24,923,000)		(452,000)
Total operating expenses, net		(26,221,000)
Operating profit (loss)	(17,137,000)	(36,982,000)	36,541,000
Other income (expense),net
Finance income	257,000	417,000	418,000
Net gain (loss) from currency exchange difference	(404,000)	(191,000)	108,000
Share in the results of associates and joint ventures	(253,000)	(44,000)
Finance costs	(9,175,000)	(11,440,000)	(10,365,000)
Profit (loss) before income tax	(26,712,000)	(48,240,000)	26,702,000
Current income tax	(1,483,000)	25,000	(8,332,000)
Deferred Income tax	(3,346,000)	15,410,000	(10,803,000)
Profit (loss) from continued operations	(31,541,000)	(32,855,000)	7,567,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	720,150,000	725,973,000	773,554,000
Total liability	366,705,000	329,869,000	340,735,000
Other segment information
Investment in associates	2,374,000	0
Capital Expenditures	23,955,000	28,298,000	29,572,000
Changes in estimates of mine closures plans	2,437,000	5,122,000	19,926,000
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
La Zanja [Member]
Operating income
Sale of goods	33,033,000	43,520,000	96,611,000
Sale of services		0
Royalty income		0
Total operating income	33,033,000	43,520,000	96,611,000
Operating costs
Cost of sales, excluding depreciation and amortization	(31,978,000)	(39,693,000)	(68,993,000)
Unabsorbed cost due to production stoppage	(203,000)
Cost of services		0
Exploration in operating units	(1,000)	(2,000)	(74,000)
Depreciation and amortization	(6,595,000)	(9,103,000)	(34,088,000)
Mining royalties	(330,000)	(429,000)	(957,000)
Total operating costs	(39,107,000)	(49,227,000)	(104,112,000)
Gross profit (loss)	(6,074,000)	(5,707,000)	(7,501,000)
Operating expenses, net
Administrative expenses	(2,434,000)	2,223,000	(3,435,000)
Selling expenses	(104,000)	(321,000)	(784,000)
Exploration in non-operating areas	(4,769,000)	2,784,000	(5,002,000)
Reversal of contingent and others			57,000
Impairment recovery (loss) of long-lived assets		0	5,693,000
Provision for contingencies and others	173,000	(98,000)
Other, net	(712,000)	1,119,000	(669,000)
Total operating expenses, net	(7,846,000)		(4,254,000)
Total operating expenses, net		(6,545,000)
Operating profit (loss)	(13,920,000)	(12,252,000)	(11,755,000)
Other income (expense),net
Finance income	780,000	2,006,000	1,649,000
Net gain (loss) from currency exchange difference	(306,000)	14,000	(224,000)
Share in the results of associates and joint ventures		0
Finance costs	(1,484,000)	(3,715,000)	(1,946,000)
Profit (loss) before income tax	(14,930,000)	(13,947,000)	(12,276,000)
Current income tax	(17,000)	35,000	(24,000)
Deferred Income tax	235,000	(5,382,000)	(1,220,000)
Profit (loss) from continued operations	(14,712,000)	(19,364,000)	(13,520,000)
Loss from discontinued operations		0
Profit for the period		0
Total assets	134,562,000	138,458,000	158,718,000
Total liability	78,916,000	68,100,000	68,615,000
Other segment information
Investment in associates		0
Capital Expenditures	825,000	1,629,000	13,159,000
Changes in estimates of mine closures plans	9,569,000	5,021,000	(6,915,000)
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Tambomayo [Member]
Operating income
Sale of goods	142,833,000	188,175,000	225,281,000
Sale of services		0
Royalty income		0
Total operating income	142,833,000	188,175,000	225,281,000
Operating costs
Cost of sales, excluding depreciation and amortization	(64,107,000)	(76,827,000)	(92,829,000)
Unabsorbed cost due to production stoppage	(822,000)
Cost of services		0
Exploration in operating units	(7,157,000)	(11,613,000)	(20,553,000)
Depreciation and amortization	(72,714,000)	(83,657,000)	(77,029,000)
Mining royalties	(1,228,000)	(1,857,000)	(1,936,000)
Total operating costs	(146,028,000)	(173,954,000)	(192,347,000)
Gross profit (loss)	(3,195,000)	14,221,000	32,934,000
Operating expenses, net
Administrative expenses	(14,548,000)	16,512,000	(17,822,000)
Selling expenses	(3,862,000)	(3,940,000)	(3,046,000)
Exploration in non-operating areas		0
Reversal of contingent and others			(1,263,000)
Impairment recovery (loss) of long-lived assets		0
Provision for contingencies and others	10,000	127,000
Other, net	(1,376,000)	3,767,000	(5,599,000)
Total operating expenses, net	(19,776,000)		(25,204,000)
Total operating expenses, net		(24,092,000)
Operating profit (loss)	(22,971,000)	(9,871,000)	7,730,000
Other income (expense),net
Finance income		0
Net gain (loss) from currency exchange difference	130,000	(12,000)	209,000
Share in the results of associates and joint ventures		0
Finance costs	(390,000)	(505,000)	(262,000)
Profit (loss) before income tax	(23,231,000)	(10,388,000)	7,677,000
Current income tax	(93,000)	0	(656,000)
Deferred Income tax		0
Profit (loss) from continued operations	(23,324,000)	(10,388,000)	7,021,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	329,384,000	425,297,000	461,335,000
Total liability	38,923,000	34,142,000	28,502,000
Other segment information
Investment in associates		0
Capital Expenditures	3,531,000	9,641,000	18,858,000
Changes in estimates of mine closures plans	1,186,000	2,277,000	(447,000)
Fair value for contingent consideration liability		0
Accounts receivable from sale of assets		0
Operating Segments [Member]
Operating income
Sale of goods	4,002,111,000	4,694,586,000	5,052,526,000
Sale of services	106,717,000	100,325,000	120,436,000
Royalty income	18,638,000	22,297,000	20,385,000
Total operating income	4,127,466,000	4,817,208,000	5,193,347,000
Operating costs
Cost of sales, excluding depreciation and amortization	(3,082,588,000)	(3,400,337,000)	(3,469,209,000)
Unabsorbed cost due to production stoppage	(31,731,000)
Cost of services		(29,536,000)	(36,682,000)
Exploration in operating units	(28,044,000)	(44,163,000)	(89,730,000)
Depreciation and amortization	(190,231,000)	(226,943,000)	(238,850,000)
Mining royalties	(11,749,000)	(12,832,000)	(21,387,000)
Total operating costs	(3,367,286,000)	(3,713,811,000)	(43,855,858,000)
Gross profit (loss)	760,180,000	1,103,397,000	1,337,489,000
Operating expenses, net
Administrative expenses	(75,899,000)	83,718,000	(100,330,000)
Selling expenses	(120,079,000)	(13,461,000)	(168,242,000)
Write-off of stripping activity asset	(11,633,000)
Exploration in non-operating areas	(8,505,000)	11,911,000	(37,514,000)
Reversal of contingent and others			(11,070,000)
Impairment recovery (loss) of long-lived assets	2,083,000	(2,083,000)	5,693,000
Provision for contingencies and others	(4,150,000)	2,971,000
Other, net	(60,929,000)	92,308,000	(127,823,000)
Total operating expenses, net	(279,512,000)		(417,146,000)
Total operating expenses, net		(324,510,000)
Operating profit (loss)	481,068,000	778,887,000	920,343,000
Other income (expense),net
Finance income	15,000,000	40,118,000	51,589,000
Net gain (loss) from currency exchange difference	48,266,000	8,015,000	1,877,000
Share in the results of associates and joint ventures	(91,801,000)	2,965,000	1,847,000
Finance costs	(221,404,000)	(220,413,000)	(508,025,000)
Profit (loss) before income tax	231,129,000	609,572,000	463,937,000
Current income tax	(324,615,000)	401,249,000	(395,825,000)
Deferred Income tax	(14,483,000)	52,519,000	(3,974,000)
Profit (loss) from continued operations	(107,969,000)	260,842,000	64,138,000
Loss from discontinued operations		0
Profit for the period		0
Total assets	15,589,711,000	15,761,637,000	15,369,524,000
Total liability	5,521,224,000	5,618,322,000	5,248,748,000
Other segment information
Investment in associates	2,296,618,000	2,395,685,000	1,473,382,000
Capital Expenditures	71,546,000	102,627,000	111,270,000
Changes in estimates of mine closures plans	31,558,000	26,722,000	42,874,000
Fair value for contingent consideration liability	(5,690,000)	(655,000)	1,815,000
Accounts receivable from sale of assets	8,233,000	21,648,000	2,715,000
Elimination of intersegment amounts [member]
Operating income
Sale of goods	(3,364,492,000)	(3,872,656,000)	(3,946,197,000)
Sale of services	(86,432,000)	(76,664,000)	(96,435,000)
Total operating income	(3,450,924,000)	(3,949,320,000)	(4,042,632,000)
Operating costs
Cost of sales, excluding depreciation and amortization	2,688,700,000	288,743,000	2,855,828,000
Unabsorbed cost due to production stoppage	3,973,000
Cost of services	21,389,000	26,158,000	32,364,000
Depreciation and amortization	611,000	608,000	(29,000)
Mining royalties			(1,000)
Total operating costs	2,714,673,000	2,914,229,000	2,888,162,000
Gross profit (loss)	(736,251,000)	(1,035,091,000)	(1,154,470,000)
Operating expenses, net
Administrative expenses	8,714,000	(7,421,000)	23,231,000
Selling expenses	101,546,000	113,148,000	141,294,000
Exploration in non-operating areas	30,000	(32,000)	1,207,000
Reversal of contingent and others			(178,000)
Provision for contingencies and others		(3,000)
Other, net	63,619,000	(77,593,000)	126,515,000
Total operating expenses, net	173,909,000		292,425,000
Total operating expenses, net		198,191,000
Operating profit (loss)	(562,342,000)	(836,900,000)	(862,045,000)
Other income (expense),net
Finance income	(12,589,000)	(30,443,000)	(41,904,000)
Net gain (loss) from currency exchange difference	(52,382,000)	(8,749,000)	(3,261,000)
Share in the results of associates and joint ventures	82,284,000	44,745,000	(703,000)
Finance costs	183,582,000	178,240,000	469,603,000
Profit (loss) before income tax	(361,447,000)	(653,107,000)	(436,904,000)
Current income tax	314,691,000	(389,338,000)	378,943,000
Deferred Income tax	(1,023,000)	(15,018,000)	(6,023,000)
Profit (loss) from continued operations	(47,779,000)	(278,787,000)	(63,984,000)
Total assets	(11,610,094,000)	(11,654,363,000)	(11,152,303,000)
Total liability	(4,341,464,000)	(4,479,248,000)	(4,061,092,000)
Other segment information
Investment in associates	(807,843,000)	(907,438,000)
Minera Yanacocha S.R.L. [Member]
Operating income
Sale of goods	592,394,000	734,526,000	658,653,000
Sale of services	27,768,000	4,776,000	21,965,000
Total operating income	620,162,000	739,302,000	680,618,000
Operating costs
Cost of sales, excluding depreciation and amortization	(666,456,000)	(692,721,000)	(619,424,000)
Unabsorbed cost due to production stoppage	(1,247,000)
Cost of services		(1,160,000)	(2,217,000)
Total operating costs	(667,703,000)	(693,881,000)	(621,641,000)
Gross profit (loss)	(47,541,000)	45,421,000	58,977,000
Operating expenses, net
Administrative expenses	(1,227,000)	1,744,000	(2,783,000)
Selling expenses	(1,922,000)	(1,722,000)	(2,627,000)
Other, net	(34,322,000)	35,987,000	(76,155,000)
Total operating expenses, net	(37,471,000)		(81,565,000)
Total operating expenses, net		(39,453,000)
Operating profit (loss)	(85,012,000)	5,968,000	(22,588,000)
Other income (expense),net
Finance income	8,100,000	18,430,000	11,448,000
Net gain (loss) from currency exchange difference	1,180,000	2,902,000	(2,056,000)
Finance costs	(36,699,000)	(57,629,000)	(39,024,000)
Profit (loss) before income tax	(112,431,000)	(30,329,000)	(52,220,000)
Current income tax	(53,018,000)	64,928,000	(30,368,000)
Deferred Income tax			1,071,000
Profit (loss) from continued operations	(165,449,000)	(95,257,000)	(81,517,000)
Profit for the period	(165,449,000)	(95,257,000)	(81,517,000)
Total assets	2,313,438,000	2,312,072,000	2,047,472,000
Total liability	1,989,052,000		1,463,749,000
Total liability		1,853,644,000
Other segment information
Investment in associates	157,835,000	230,000,000
Minera Yanacocha S.R.L. [Member] | Corporates [Member]
Operating expenses, net
Administrative expenses		4,894,000
Exploration in non-operating areas		4,492,000
Provision for contingencies and others		1,067,000
Other, net		2,686,000
Total operating expenses, net		(11,005,000)
Operating profit (loss)		(11,005,000)
Other income (expense),net
Finance income		7,751,000
Net gain (loss) from currency exchange difference		(481,000)
Share in the results of associates and joint ventures		45,778,000
Finance costs		(16,249,000)
Profit (loss) before income tax		25,794,000
Deferred Income tax		31,344,000
Profit (loss) from continued operations		57,138,000
Total assets		2,371,464,000
Total liability		407,153,000
Other segment information
Investment in associates		2,073,745,000
Capital Expenditures		453,000
Changes in estimates of mine closures plans		1,203,000
Fair value for contingent consideration liability		(655,000)
Accounts receivable from sale of assets		625,000
Sociedad Minera Cerro Verde S.A.A. [Member]
Operating income
Sale of goods	2,538,593,000	2,896,894,000	3,061,930,000
Total operating income	2,538,593,000	2,896,894,000	3,061,930,000
Operating costs
Cost of sales, excluding depreciation and amortization	(1,809,255,000)	(1,961,577,000)	(2,018,876,000)
Cost of services	(164,590,000)	(181,215,000)	(159,514,000)
Depreciation and amortization	(451,001,000)	(523,512,000)	(512,298,000)
Mining royalties	(2,000,000)	(2,923,000)	(2,743,000)
Total operating costs	(1,809,255,000)	(1,961,577,000)	(2,018,876,000)
Gross profit (loss)	729,338,000	935,317,000	1,043,054,000
Operating expenses, net
Selling expenses	(97,680,000)	(109,483,000)	(137,008,000)
Other, net	(32,327,000)	37,436,000	(68,683,000)
Total operating expenses, net	(130,007,000)		(205,691,000)
Total operating expenses, net		(146,919,000)
Operating profit (loss)	599,331,000	788,398,000	837,363,000
Other income (expense),net
Finance income	2,350,000	10,356,000	28,089,000
Net gain (loss) from currency exchange difference	52,464,000	5,574,000	6,161,000
Finance costs	(142,675,000)	(115,877,000)	(426,733,000)
Profit (loss) before income tax	511,470,000	688,451,000	444,880,000
Income tax expense or income	236,926,000	298,074,000	325,170,000
Current income tax	(236,926,000)	298,074,000	(325,170,000)
Deferred Income tax	(25,962,000)	(139,934,000)	(61,483,000)
Profit (loss) from continued operations	274,544,000	390,377,000	119,710,000
Profit for the period	274,544,000,000	390,377,000,000	119,710,000,000
Total assets	7,767,459,000	7,809,424,000	7,554,712,000
Total liability	2,132,131,000	2,450,101,000	2,445,840,000
Compania Minera Coimolache S.A. [Member]
Operating income
Sale of goods	203,163,000	241,173,000	225,447,000
Total operating income	203,163,000	241,173,000	225,447,000
Operating costs
Cost of sales, excluding depreciation and amortization	(148,122,000)	(187,156,000)	(170,866,000)
Total operating costs	(148,122,000)	(187,156,000)	(170,866,000)
Gross profit (loss)	55,041,000	54,017,000	54,581,000
Operating expenses, net
Administrative expenses	(4,043,000)	4,638,000	(5,644,000)
Selling expenses	(1,290,000)	(1,163,000)	(1,135,000)
Other, net	188,000	5,667,000	(325,000)
Total operating expenses, net	(5,145,000)		(7,104,000)
Total operating expenses, net		(11,468,000)
Operating profit (loss)	49,896,000	42,549,000	47,477,000
Other income (expense),net
Finance income	411,000	549,000	357,000
Net gain (loss) from currency exchange difference	(1,267,000)	277,000	(852,000)
Finance costs	(2,532,000)	(3,598,000)	(2,935,000)
Profit (loss) before income tax	46,508,000	39,777,000	44,047,000
Current income tax	(24,801,000)	26,335,000	(23,405,000)
Deferred Income tax	1,079,000	15,017,000	4,942,000
Profit (loss) from continued operations	22,786,000	28,459,000	25,584,000
Profit for the period	22,786,000	28,459,000	25,584,000
Total assets	418,966,000	379,915,000	361,669,000
Total liability	150,463,000	125,097,000	$ 125,307,000
Other segment information
Investment in associates	104,833,000	$ 98,426,000
Tinka Resources Ltd [Member]
Operating expenses, net
Administrative expenses	(2,311,000)
Total operating expenses, net	(2,311,000)
Operating profit (loss)	(2,311,000)
Other income (expense),net
Profit (loss) before income tax	(2,311,000)
Profit (loss) from continued operations	(2,311,000)
Profit for the period	(2,311,000)
Total assets	64,539,000
Total liability	$ 876,000

Disclosure of information on _4

Disclosure of information on segments - Reconciliation of segment profit (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of information on segments [Line Items]
Profit (loss) from continued operations	$ (155,748)	$ (17,945)	$ 154
Elimination Of Profit Of Equity Accounted Investees	(129,570)	(323,578)	(63,777)
Elimination Of Profit of Inter Company Sales	(89,006)	(71,951)	(74,637)
Elimination of Profit In Cost of Sales And Operating Expenses Of Intercompany	89,593	71,697	76,780
Elimination Of Share of Profit In subsidiaries And Associates	82,284	44,745	1,582
Elimination of Profits In others	(1,080)	300	(3,932)
Operating Segments [Member]
Disclosure of information on segments [Line Items]
Profit (loss) from continued operations	$ (107,969)	$ 260,842	$ 64,138

Disclosure of information on _5

Disclosure of information on segments - Reconciliation of segment assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of information on segments [Line Items]
Assets	$ 3,979,617	$ 4,107,274	$ 4,217,221
Elimination Of assets Of Equity Accounted Investees, Not Consolidated	(10,564,402)	(10,501,411)	(9,963,853)
Elimination of the Subsidiaries And Associates of The Parent Company	(1,005,368)	(1,111,454)	(1,184,240)
Elimination of Segment Assets Intercompany Receivables	(57,810)	(64,708)	(32,444)
Elimination of Other Segment Assets	17,486	23,210	28,234
Operating Segments [Member]
Disclosure of information on segments [Line Items]
Assets	$ 15,589,711	$ 15,761,637	$ 15,369,524

Disclosure of information on _6

Disclosure of information on segments - Reconciliation of segment liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of information on segments [Line Items]
Total liability	$ 1,179,760	$ 1,139,074	$ 1,187,656
Operating Segments [Member]
Disclosure of information on segments [Line Items]
Total liability	5,521,224	5,618,322	5,248,748
Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Total liability	(4,341,464)	(4,479,248)	(4,061,092)
Elimination of liabilities of equity accounted investees [Member]
Disclosure of information on segments [Line Items]
Total liability	(4,272,522)	(4,428,842)	(4,034,896)
Elimination of intercompany payables [Member]
Disclosure of information on segments [Line Items]
Total liability	(68,961)	(50,395)	(27,822)
Elimination of intersegment other liabilities amount [Member]
Disclosure of information on segments [Line Items]
Total liability	$ 19	$ (11)	$ 1,626

Disclosure of information on _7

Disclosure of information on segments - Disaggregated revenue information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	$ 814,422		$ 1,305,636
Revenue from contracts with customers	673,597	$ 860,825	1,157,338
Revenue From Contract With Customers Net		860,825
Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	113,033		299,286
Revenue from contracts with customers	91,007	184,982	257,840
Revenue From Contract With Customers Net		184,982
Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	34,222		229,948
Revenue from contracts with customers	31,663	58,796	225,339
Revenue From Contract With Customers Net		58,796
Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	158,326		154,114
Revenue from contracts with customers	143,233	39,639	153,240
Revenue From Contract With Customers Net		39,639
Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	78,149		37,460
Revenue from contracts with customers	77,907	186,668	33,864
Revenue From Contract With Customers Net		186,668
Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	391,112		481,535
Revenue from contracts with customers	251,814	294,904	339,581
Revenue From Contract With Customers Net		294,904
La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	34,913		96,941
Revenue from contracts with customers	33,024	43,894	96,600
Revenue From Contract With Customers Net		43,894
Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0		0
Revenue from contracts with customers	48,254	59,690	62,962
Revenue From Contract With Customers Net		59,690
Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0		0
Revenue from contracts with customers	14,753	15,687	14,986
Revenue From Contract With Customers Net		15,687
Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0		0
Revenue from contracts with customers	18,638	22,297	20,385
Revenue From Contract With Customers Net		22,297
Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0		0
Revenue from contracts with customers	607	615	615
Revenue From Contract With Customers Net		615
Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	36,411		6,655
Revenue from contracts with customers	51,671	25,603	26,564
Revenue From Contract With Customers Net		25,603
Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	(31,744)		(303)
Revenue from contracts with customers	(88,974)	(71,950)	(74,638)
Revenue From Contract With Customers Net		(71,950)
Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	846,166		1,305,939
Revenue from contracts with customers	762,571	932,775	1,231,976
Revenue From Contract With Customers Net		932,775
Peru [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		22,297
Peru [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		22,297
Peru [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		0
Peru [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers		22,297
Metal and concentrates sales [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	634,674	814,867	1,112,952
Metal and concentrates sales [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			1,112,952
Metal and concentrates sales [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	91,007	184,982	257,840
Metal and concentrates sales [Member] | Ucchuchacua [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			257,840
Metal and concentrates sales [Member] | Ucchuchacua [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	31,663	58,796	225,339
Metal and concentrates sales [Member] | Orcopampa [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			225,339
Metal and concentrates sales [Member] | Orcopampa [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	143,233	39,639	153,240
Metal and concentrates sales [Member] | Julcani [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			153,240
Metal and concentrates sales [Member] | Julcani [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	77,907	186,668	33,864
Metal and concentrates sales [Member] | Tambomayo [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			33,864
Metal and concentrates sales [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	251,814	294,904	339,581
Metal and concentrates sales [Member] | Colquijirca [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			339,414
Metal and concentrates sales [Member] | Colquijirca [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			(167)
Metal and concentrates sales [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	33,024	43,894	96,600
Metal and concentrates sales [Member] | La Zanja [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			96,600
Metal and concentrates sales [Member] | La Zanja [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Energy generation and transmission [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Energy generation and transmission [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Insurance brokerage [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Insurance brokerage [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Rental of mining concessions [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Rental of mining concessions [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Holding of investment in shares [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Holding of investment in shares [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	36,336	6,046	6,655
Metal and concentrates sales [Member] | Industrial activities [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			6,655
Metal and concentrates sales [Member] | Industrial activities [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,310)	(62)	(167)
Metal and concentrates sales [Member] | Adjustments and eliminations [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			0
Metal and concentrates sales [Member] | Adjustments and eliminations [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			(167)
Metal and concentrates sales [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	664,984	814,929	1,113,119
Metal and concentrates sales [Member] | Reportable segments [member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			1,112,952
Metal and concentrates sales [Member] | Reportable segments [member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers			(167)
Metal and concentrates sales [Member] | Asia [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	39,110	105,645	120,519
Metal and concentrates sales [Member] | Asia [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	2,427	13,622	29,382
Metal and concentrates sales [Member] | Asia [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	1,350	6,598	0
Metal and concentrates sales [Member] | Asia [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	27,365	9,115
Metal and concentrates sales [Member] | Asia [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	35,333	58,060	82,022
Metal and concentrates sales [Member] | Asia [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Asia [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	39,110	105,645	120,519
Metal and concentrates sales [Member] | Europe [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	42,210	60,475	100,792
Metal and concentrates sales [Member] | Europe [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	11,503	27,848	57,472
Metal and concentrates sales [Member] | Europe [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	28,425	0	2,760
Metal and concentrates sales [Member] | Europe [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	552	22,590	0
Metal and concentrates sales [Member] | Europe [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	135	9,488
Metal and concentrates sales [Member] | Europe [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	5,885	26,074
Metal and concentrates sales [Member] | Europe [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	1,730	4,017	4,998
Metal and concentrates sales [Member] | Europe [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Europe [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	42,210	60,475	100,792
Metal and concentrates sales [Member] | Peru [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	389,854	476,978	521,017
Metal and concentrates sales [Member] | Peru [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	77,077	143,512	170,986
Metal and concentrates sales [Member] | Peru [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	3,238	4,833	63,049
Metal and concentrates sales [Member] | Peru [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	81,058	10,451	10,808
Metal and concentrates sales [Member] | Peru [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	7,097	79,631	15,261
Metal and concentrates sales [Member] | Peru [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	216,481	236,844	257,559
Metal and concentrates sales [Member] | Peru [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	32,886	683	2,770
Metal and concentrates sales [Member] | Peru [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Peru [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Peru [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Peru [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | Peru [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	2,327	1,086	751
Metal and concentrates sales [Member] | Peru [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,310)	(62)	(167)
Metal and concentrates sales [Member] | Peru [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	420,164	477,040	521,184
Metal and concentrates sales [Member] | America
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	163,500	171,769	370,624
Metal and concentrates sales [Member] | America | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	53,963	159,530
Metal and concentrates sales [Member] | America | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	60,273	0	142,432
Metal and concentrates sales [Member] | America | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	70,810	79,537
Metal and concentrates sales [Member] | America | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	138	37,326	67,756
Metal and concentrates sales [Member] | America | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	32,279	943	906
Metal and concentrates sales [Member] | America | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Metal and concentrates sales [Member] | America | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	163,500	171,769	370,624
Sales By Customers [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	634,674	814,867
Sales By Customers [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	634,674	814,867
Sales By Customers [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	91,007	184,982
Sales By Customers [Member] | Ucchuchacua [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	91,007	184,982
Sales By Customers [Member] | Ucchuchacua [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	31,663	58,796
Sales By Customers [Member] | Orcopampa [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	31,663	58,796
Sales By Customers [Member] | Orcopampa [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	143,233	39,639
Sales By Customers [Member] | Julcani [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	143,233	39,639
Sales By Customers [Member] | Julcani [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	77,907	186,668
Sales By Customers [Member] | Tambomayo [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	77,907	186,668
Sales By Customers [Member] | Tambomayo [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	251,814	294,904
Sales By Customers [Member] | Colquijirca [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	251,974	294,842
Sales By Customers [Member] | Colquijirca [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	160	(62)
Sales By Customers [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	33,024	43,894
Sales By Customers [Member] | La Zanja [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	2,554	43,894
Sales By Customers [Member] | La Zanja [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,470)	0
Sales By Customers [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Energy generation and transmission [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Energy generation and transmission [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Insurance brokerage [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Insurance brokerage [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Rental of mining concessions [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Rental of mining concessions [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Holding of investment in shares [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Holding of investment in shares [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	36,336	6,046
Sales By Customers [Member] | Industrial activities [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	36,336	6,046
Sales By Customers [Member] | Industrial activities [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,310)	(62)
Sales By Customers [Member] | Adjustments and eliminations [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales By Customers [Member] | Adjustments and eliminations [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,310)	(62)
Sales By Customers [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	664,984	814,929
Sales By Customers [Member] | Reportable segments [member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	634,674	814,867
Sales By Customers [Member] | Reportable segments [member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(30,310)	(62)
Services [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20,285	23,661	24,001
Services [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20,285	23,661	24,001
Services [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Ucchuchacua [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Ucchuchacua [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Orcopampa [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Orcopampa [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Julcani [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Julcani [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Tambomayo [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Tambomayo [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Colquijirca [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Colquijirca [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | La Zanja [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | La Zanja [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	48,254	59,690	62,962
Services [Member] | Energy generation and transmission [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	5,532	7,974	9,015
Services [Member] | Energy generation and transmission [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(42,722)	(51,716)	(53,947)
Services [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	14,753	15,687	14,986
Services [Member] | Insurance brokerage [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	14,753	15,687	14,986
Services [Member] | Insurance brokerage [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Rental of mining concessions [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Rental of mining concessions [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	607	615	615
Services [Member] | Holding of investment in shares [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Holding of investment in shares [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(607)	(615)	(615)
Services [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	15,335	19,557	19,909
Services [Member] | Industrial activities [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Industrial activities [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(15,335)	(19,557)	(19,909)
Services [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(58,664)	(71,888)	(74,471)
Services [Member] | Adjustments and eliminations [Member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Adjustments and eliminations [Member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(58,664)	(71,888)	(74,471)
Services [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	78,949	95,549	98,472
Services [Member] | Reportable segments [member] | Operating Segments [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20,285	23,661	24,001
Services [Member] | Reportable segments [member] | Elimination of intersegment amounts [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(58,664)	(71,888)	(74,471)
Services [Member] | Europe [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20	30
Services [Member] | Europe [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20	30
Services [Member] | Europe [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Europe [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20	30
Services [Member] | Peru [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20,173	23,501	23,712
Services [Member] | Peru [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | Peru [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	48,254	59,690	62,962
Services [Member] | Peru [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	14,641	15,527	14,787
Services [Member] | Peru [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | Peru [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	607	615	615
Services [Member] | Peru [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	15,335	19,557	19,909
Services [Member] | Peru [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(58,664)	(71,888)	(74,561)
Services [Member] | Peru [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	78,837	95,389	98,273
Services [Member] | America
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	92	130	289
Services [Member] | America | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Services [Member] | America | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	92	130	199
Services [Member] | America | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Services [Member] | America | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	90
Services [Member] | America | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	92	130	199
Royalties [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Royalties [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Royalties [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Royalties [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Royalties [Member] | Peru [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638		20,385
Royalties [Member] | Peru [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Royalties [Member] | Peru [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	0	20,385
Royalties [Member] | Peru [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Royalties [Member] | Peru [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	0	20,385
Ifrs Gold [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		254,194
Ifrs Gold [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		58,737
Ifrs Gold [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		278
Ifrs Gold [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		134,387
Ifrs Gold [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		18,104
Ifrs Gold [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		42,698
Ifrs Gold [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Ifrs Gold [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		(10)
Ifrs Gold [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		254,204
Silver [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	229,590	298,171	362,122
Silver [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	14	159,713	217,843
Silver [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	14	263	54,109
Silver [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	105,359	40,889	5,243
Silver [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	77,964	38,112	35,307
Silver [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	13,667	57,903	46,060
Silver [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	32,672	1,300	3,583
Silver [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Silver [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Silver [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Silver [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Silver [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	30,023	0	0
Silver [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	(30,123)	(9)	(23)
Silver [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	259,713	298,180	362,145
Copper [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	181,311	238,304	274,761
Copper [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	48	0	0
Copper [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	79	(221)
Copper [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	129
Copper [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	181,007	238,327	275,119
Copper [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Copper [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	256	(102)	(266)
Copper [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	181,055	238,406	275,027
Zinc [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	120,546	149,317	164,666
Zinc [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	8,356	38,143	45,194
Zinc [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	18,197
Zinc [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	9,513	0	0
Zinc [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	19,867
Zinc [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	102,677	91,307	101,275
Zinc [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Zinc [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	120,546	149,317	164,666
Lead [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	48,426	89,141	85,555
Lead [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	6,760	29,735	36,238
Lead [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	529	0	6,703
Lead [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	10,688	1,627	0
Lead [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	14,016	1,996
Lead [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	30,449	43,763	40,618
Lead [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Lead [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	48,426	89,141	85,555
Manganese sulfate [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	4,051	6,046	6,655
Manganese sulfate [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0
Manganese sulfate [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	4,051	6,046	6,655
Manganese sulfate [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Manganese sulfate [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	4,051	6,046	6,655
Metal and Concentrates Sales Before Commercial Deductions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		1,035,173
Revenue from contracts with customers		814,867
Metal and Concentrates Sales Before Commercial Deductions [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		227,591
Revenue from contracts with customers		184,982
Metal and Concentrates Sales Before Commercial Deductions [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		59,000
Revenue from contracts with customers		58,796
Metal and Concentrates Sales Before Commercial Deductions [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		42,873
Revenue from contracts with customers		39,639
Metal and Concentrates Sales Before Commercial Deductions [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		206,382
Revenue from contracts with customers		186,664
Metal and Concentrates Sales Before Commercial Deductions [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		449,404
Revenue from contracts with customers		294,904
Metal and Concentrates Sales Before Commercial Deductions [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		43,998
Revenue from contracts with customers		43,894
Metal and Concentrates Sales Before Commercial Deductions [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Revenue from contracts with customers		0
Metal and Concentrates Sales Before Commercial Deductions [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Revenue from contracts with customers		0
Metal and Concentrates Sales Before Commercial Deductions [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Revenue from contracts with customers		0
Metal and Concentrates Sales Before Commercial Deductions [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		0
Revenue from contracts with customers		0
Metal and Concentrates Sales Before Commercial Deductions [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		6,046
Revenue from contracts with customers		6,046
Metal and Concentrates Sales Before Commercial Deductions [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		(121)
Revenue from contracts with customers		(62)
Metal and Concentrates Sales Before Commercial Deductions [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross		1,035,294
Revenue from contracts with customers		814,929
Commercial deductions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	179,748	220,306	192,684
Commercial deductions [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(22,026)	(42,609)	(41,446)
Commercial deductions [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(2,559)	(203)	(4,609)
Commercial deductions [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(15,093)	(3,234)	(874)
Commercial deductions [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(242)	(19,714)	(3,596)
Commercial deductions [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(139,298)	(154,500)	(141,954)
Commercial deductions [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(1,889)	(104)	(341)
Commercial deductions [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	0	0	0
Commercial deductions [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	0	0	0
Commercial deductions [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	0	0	0
Commercial deductions [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	0	0	0
Commercial deductions [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(75)	0	0
Commercial deductions [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	1,434	59	136
Commercial deductions [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Commercial Deductions In Revenue From Contract With Customers	(181,182)	(220,365)	(192,820)
Sales by services [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	20,285	23,661	24,001
Sales by services [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Sales by services [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	48,254	59,690	62,962
Sales by services [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	14,753	15,687	14,986
Sales by services [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Sales by services [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	607	615	615
Sales by services [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	15,335	19,557	19,909
Sales by services [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	(58,664)	(71,888)	(74,471)
Sales by services [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	78,949	95,549	98,472
Royalties income [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Revenue From Contract With Customers Net		23,661
Royalties income [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		0
Royalties income [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		59,690
Royalties income [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		15,687
Royalties income [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Revenue From Contract With Customers Net		0
Royalties income [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		615
Royalties income [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		19,557
Royalties income [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	0	0	0
Revenue From Contract With Customers Net		(71,888)
Royalties income [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue from contracts with customers	18,638	22,297	20,385
Revenue From Contract With Customers Net		95,549
Gold per ounce [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	230,498		411,877
Gold per ounce [Member] | Ucchuchacua [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	97,903	0	11
Gold per ounce [Member] | Orcopampa [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	33,631	0	150,939
Gold per ounce [Member] | Julcani [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	32,766	0	149,092
Gold per ounce [Member] | Tambomayo [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	185	0	28
Gold per ounce [Member] | Colquijirca [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	63,312	0	18,463
Gold per ounce [Member] | La Zanja [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	2,241	0	93,358
Gold per ounce [Member] | Energy generation and transmission [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Gold per ounce [Member] | Insurance brokerage [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Gold per ounce [Member] | Rental of mining concessions [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Gold per ounce [Member] | Holding of investment in shares [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	0	0	0
Gold per ounce [Member] | Industrial activities [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	2,337	0	0
Gold per ounce [Member] | Adjustments and eliminations [Member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	(1,877)	0	(14)
Gold per ounce [Member] | Reportable segments [member]
Disclosure of information on segments [Line Items]
Revenue From Contract With Customers Gross	$ 232,375	$ 0	$ 411,891

Derivative financial instrume_3

Derivative financial instruments - Hedged Derivative Financial Instruments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of detailed information about hedging instruments [line items]
Fair value	$ (18,439)
Copper Price Hedging Instrument [Member]
Disclosure of detailed information about hedging instruments [line items]
Fair value	(15,804)
Interest rate hedge
Disclosure of detailed information about hedging instruments [line items]
Fair value	$ (2,635)

Derivative financial instrume_4

Derivative financial instruments - Composition of open transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)lb	Dec. 31, 2019USD ($)
Disclosure of derivative financial instruments [Line Items]
Fair value	$ (18,439)
Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	20,750
Fair value	$ (15,804)
Settlement period one [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	1,250
Fixed Quotation	$ 6,500
Future quotation	7,758
Fair value	$ (1,572)
Settlement period one [Member] | Minimum
Disclosure of derivative financial instruments [Line Items]
Fixed Quotation		$ 6,500
Settlement period two [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	1,250
Fixed Quotation	$ 6,500
Future quotation	7,762
Fair value	$ (1,577)
Settlement period two [Member] | Minimum
Disclosure of derivative financial instruments [Line Items]
Fixed Quotation		$ 6,500
Settlement period three [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,250
Fixed Quotation	$ 6,633
Future quotation	7,767
Fair value	$ (2,549)
Settlement period four [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,000
Fixed Quotation	$ 6,750
Future quotation	7,769
Fair value	$ (2,036)
Settlement period five [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	3,000
Fixed Quotation	$ 6,897
Future quotation	7,769
Fair value	$ (2,615)
Settlement period six [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	3,000
Fixed Quotation	$ 6,967
Future quotation	7,770
Fair value	$ (2,408)
Settlement period seven [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,000
Fixed Quotation	$ 7,025
Future quotation	7,768
Fair value	$ (1,483)
Settlement period eight [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,000
Fixed Quotation	$ 7,100
Future quotation	7,765
Fair value	$ (1,327)
Settlement period nine [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,000
Fixed Quotation	$ 7,500
Future quotation	7,762
Fair value	$ (523)
Settlement period ten [Member] | Copper Price Hedging Instrument [Member]
Disclosure of derivative financial instruments [Line Items]
Quantity of commodity | lb	2,000
Fixed Quotation	$ 7,900
Future quotation	7,757
Fair value	$ 286

Derivative financial instrume_5

Derivative financial instruments - Composition of the operations to be settled that are part of the liability for hedging derivative instrument (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of derivative financial instruments [Line Items]
Fair value	$ (18,439)
Interest rate hedge
Disclosure of derivative financial instruments [Line Items]
Amount	275,000
Fair value	$ (2,635)
October 2022
Disclosure of derivative financial instruments [Line Items]
Amount	81,666
LIBOR of three months, Fixed interest rate (as a percent)	2.632%
Fair value	$ (785)
October 2022
Disclosure of derivative financial instruments [Line Items]
Amount	74,167
LIBOR of three months, Fixed interest rate (as a percent)	2.632%
Fair value	$ (712)
October 2022
Disclosure of derivative financial instruments [Line Items]
Amount	74,167
LIBOR of three months, Fixed interest rate (as a percent)	0.732%
Fair value	$ (706)
July 2022
Disclosure of derivative financial instruments [Line Items]
Amount	45,000
LIBOR of three months, Fixed interest rate (as a percent)	2.632%
Fair value	$ (432)

Derivative financial instrume_6

Derivative financial instruments - Embedded derivatives (Details) item in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)item
Copper concentrate [Member] | Minimum
Disclosure Of Embedded derivatives [Line Items]
Forward pricing		2.793
Copper concentrate [Member] | Maximum
Disclosure Of Embedded derivatives [Line Items]
Forward pricing		2.804
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Embedded derivatives [Line Items]
Derivative financial asset liabilities	$ 101,434,000	$ 36,705,000
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper concentrate [Member]
Disclosure Of Embedded derivatives [Line Items]
Quantity of Metal | item	267,872	246,441
Embedded derivatives, maturity	January 2021 to May 2021	January 2020 to May 2020
Derivative financial asset liabilities	$ 98,424,000	$ 39,727,000
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper concentrate [Member] | Minimum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	$ 2.908	2.567
Forward pricing	3.519
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper concentrate [Member] | Maximum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	$ 3.545	$ 2.774
Forward pricing	3.524
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper cathode [Member]
Disclosure Of Embedded derivatives [Line Items]
Quantity of Metal | item	3,964	4,410
Embedded derivatives, maturity	January 2021	January 2020
Provisional pricing		$ 2.791
Forward pricing	3.519	2.793
Derivative financial asset liabilities	$ (235,000)	$ 9,000
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper cathode [Member] | Minimum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	3.535
Sociedad Minera Cerro Verde S.A.A. [Member] | Copper cathode [Member] | Maximum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	$ 3.612
Sociedad Minera Cerro Verde S.A.A. [Member] | Molybdenum [Member]
Disclosure Of Embedded derivatives [Line Items]
Quantity of Metal | item	3,382	5,370
Embedded derivatives, maturity	January 2021 to February 2021	January 2020 to February 2020
Forward pricing	8.658	8.025
Derivative financial asset liabilities	$ 3,245,000	$ (3,031,000)
Sociedad Minera Cerro Verde S.A.A. [Member] | Molybdenum [Member] | Minimum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	7.360	7.857
Sociedad Minera Cerro Verde S.A.A. [Member] | Molybdenum [Member] | Maximum
Disclosure Of Embedded derivatives [Line Items]
Provisional pricing	$ 7.884	$ 9.724

Derivative financial instrume_7

Derivative financial instruments - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of derivative financial instruments [Line Items]
Hedge instruments	$ 18,439,000
Gain/loss on hedge ineffectiveness recognised in profit or loss	4,000,000	$ (322,000,000,000)	$ (1,398,000,000,000)
Gain (loss) on change in fair value of derivatives	(18,439,000)	(2,759,000)	31,464,000
Effect on settlement of hedging financial instruments	146,000	0	0
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of derivative financial instruments [Line Items]
Trade account receivable due from related parties	101,400,000	36,100,000
Trade accounts receivable net		600,000
Other reserves [member]
Disclosure of derivative financial instruments [Line Items]
Gain (loss) on change in fair value of derivatives	$ 18,400,000	2,800,000	$ 31,500,000
Net deferred income tax asset		$ 6,464,000

Financial - risk management o_3

Financial - risk management objectives and policies - Effect in profit or loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial - risk management objectives and policies
Increase in exchange rate basis points	10.00%	10.00%	10.00%
Decrease in exchange rate basis points	(10.00%)	(10.00%)	(10.00%)
Exchange rate increased effect on income	$ 9,282	$ 4,053	$ 1,695
Exchange rate decreased effect on income	$ (9,282)	$ (3,545)	$ (1,681)

Financial - risk management o_4

Financial - risk management objectives and policies - Effect in profit or loss of the variations of interest rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial - risk management objectives and policies
Increase in libor interest rate	10.00%	10.00%	10.00%
Decrease in libor interest rate	(10.00%)	(10.00%)	(10.00%)
Libor interest rate increased effect on income	$ (81)	$ (306)	$ (277)
Libor interest rate decreased effect on income	$ 81	$ 306	$ 277

Financial - risk management o_5

Financial - risk management objectives and policies - Credit risk exposure (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of credit risk exposure [line items]
Trade receivables	$ 181,968	$ 226,112
Trade receivables	$ 159,840	$ 204,096
Expected credit loss rate	0.00%	0.00%
Expected credit loss	$ (31,845)	$ (32,022)
Other receivables	183,054	182,137
Other Receivables	173,337	172,131
Total trade and other receivables	365,022	408,249
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 29,042	$ 16,400
Expected credit loss rate	4.77%	8.44%
Expected credit loss	$ (1,384)	$ (1,384)
Other receivables	34,185	43,311
Other Receivables	32,801	41,927
Total trade and other receivables	27,658	15,016
Current [member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 159,840	$ 204,096
Expected credit loss rate	0.00%	0.00%
Expected credit loss	$ 0	$ 0
Other receivables	172,116	125,409
Total trade and other receivables	331,956	329,505
Not later than one month [member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 0	$ 0
Expected credit loss rate	0.00%	0.00%
Expected credit loss	$ 0	$ 0
Other receivables	0	42,390
Total trade and other receivables	0	42,390
Not later than one month [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure of credit risk exposure [line items]
Trade receivables	21,274	5,047
Total trade and other receivables	21,274	5,047
Later than one month and not later than three months [member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 0	$ 0
Expected credit loss rate	0.00%	0.00%
Expected credit loss	$ 0	$ 0
Other receivables	1,221	4,332
Total trade and other receivables	1,221	4,332
Later than one month and not later than three months [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure of credit risk exposure [line items]
Trade receivables	2,797	7,976
Total trade and other receivables	2,797	7,976
Later than three months [member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 22,128	$ 22,016
Expected credit loss rate	100.00%	100.00%
Expected credit loss	$ (31,845)	$ (32,022)
Other receivables	9,717	10,006
Total trade and other receivables	31,845	32,022
Later than three months [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure of credit risk exposure [line items]
Trade receivables	$ 4,971	$ 3,377
Expected credit loss rate	27.84%	40.98%
Expected credit loss	$ (1,384)	$ (1,384)
Total trade and other receivables	$ 3,587	$ 1,993

Financial - risk management o_6

Financial - risk management objectives and policies - Aging of financial liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial risk management objectives and policies [line items]
Hedge derivative financial instruments, undiscounted cash flows	$ 18,439
Non-derivative financial instruments, undiscounted cash flows	879,787	$ 870,915
Financial liabilities, undiscounted contractual payments	879,787	870,915
Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Hedge derivative financial instruments, undiscounted cash flows	15,804
Non-derivative financial instruments, undiscounted cash flows	290,743	496,006
Financial liabilities, undiscounted contractual payments	290,743	496,006
Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Hedge derivative financial instruments, undiscounted cash flows	2,635
Non-derivative financial instruments, undiscounted cash flows	194,009	145,086
Financial liabilities, undiscounted contractual payments	194,009	145,086
Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Hedge derivative financial instruments, undiscounted cash flows	0
Non-derivative financial instruments, undiscounted cash flows	352,015	144,640
Financial liabilities, undiscounted contractual payments	352,015	144,640
More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Hedge derivative financial instruments, undiscounted cash flows	0
Non-derivative financial instruments, undiscounted cash flows	43,020	85,183
Financial liabilities, undiscounted contractual payments	43,020	85,183
Bank Loans Capital [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	65,793	55,000
Financial liabilities, undiscounted contractual payments	65,793	55,000
Bank Loans Capital [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	65,793	55,000
Financial liabilities, undiscounted contractual payments	65,793	55,000
Bank Loans Capital [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Bank Loans Capital [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Bank Loans Capital [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Bank Loans Interest [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	1,156	486
Financial liabilities, undiscounted contractual payments	1,156	486
Bank Loans Interest [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	1,156	486
Financial liabilities, undiscounted contractual payments	1,156	486
Bank Loans Interest [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Bank Loans Interest [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Bank Loans Interest [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Trade and other payables [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	167,852	152,686
Financial liabilities, undiscounted contractual payments	167,852	152,686
Trade and other payables [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	167,852	152,070
Financial liabilities, undiscounted contractual payments	167,852	152,070
Trade and other payables [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	616
Financial liabilities, undiscounted contractual payments	0	616
Trade and other payables [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Trade and other payables [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Financial Obligation Capital [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	528,405	567,398
Financial liabilities, undiscounted contractual payments	528,405	567,398
Financial Obligation Capital [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	21,587	262,088
Financial liabilities, undiscounted contractual payments	21,587	262,088
Financial Obligation Capital [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	175,932	131,588
Financial liabilities, undiscounted contractual payments	175,932	131,588
Financial Obligation Capital [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	324,815	125,154
Financial liabilities, undiscounted contractual payments	324,815	125,154
Financial Obligation Capital [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	6,071	48,568
Financial liabilities, undiscounted contractual payments	6,071	48,568
Financial Obligation Interest [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	43,271	47,151
Financial liabilities, undiscounted contractual payments	43,271	47,151
Financial Obligation Interest [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	14,868	22,597
Financial liabilities, undiscounted contractual payments	14,868	22,597
Financial Obligation Interest [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	13,289	11,225
Financial liabilities, undiscounted contractual payments	13,289	11,225
Financial Obligation Interest [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	14,911	11,880
Financial liabilities, undiscounted contractual payments	14,911	11,880
Financial Obligation Interest [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	203	1,449
Financial liabilities, undiscounted contractual payments	203	1,449
Lease Capital [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	7,839	7,503
Financial liabilities, undiscounted contractual payments	7,839	7,503
Lease Capital [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	3,609	3,692
Financial liabilities, undiscounted contractual payments	3,609	3,692
Lease Capital [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	2,010	1,514
Financial liabilities, undiscounted contractual payments	2,010	1,514
Lease Capital [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	2,220	2,297
Financial liabilities, undiscounted contractual payments	2,220	2,297
Lease Capital [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Lease Interest [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	362	620
Financial liabilities, undiscounted contractual payments	362	620
Lease Interest [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	74	73
Financial liabilities, undiscounted contractual payments	74	73
Lease Interest [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	143	143
Financial liabilities, undiscounted contractual payments	143	143
Lease Interest [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	145	404
Financial liabilities, undiscounted contractual payments	145	404
Lease Interest [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Contingent consideration liability [Member]
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	46,670	40,071
Financial liabilities, undiscounted contractual payments	46,670	40,071
Contingent consideration liability [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Contingent consideration liability [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	0	0
Financial liabilities, undiscounted contractual payments	0	0
Contingent consideration liability [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	9,924	4,905
Financial liabilities, undiscounted contractual payments	9,924	4,905
Contingent consideration liability [Member] | More than 5 years
Disclosure of financial risk management objectives and policies [line items]
Non-derivative financial instruments, undiscounted cash flows	36,746	35,166
Financial liabilities, undiscounted contractual payments	36,746	35,166
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of financial risk management objectives and policies [line items]
Total	103,104	101,620
Minera Yanacocha SRL and subsidiary [Member] | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Total	57,641	57,388
Minera Yanacocha SRL and subsidiary [Member] | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Total	40	305
Minera Yanacocha SRL and subsidiary [Member] | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Total	45,423	43,927
Minera Yanacocha SRL and subsidiary [Member] | Trade accounts payable - domestic suppliers
Disclosure of financial risk management objectives and policies [line items]
Total	44,977	45,671
Minera Yanacocha SRL and subsidiary [Member] | Trade accounts payable - domestic suppliers | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Total	44,977	45,671
Minera Yanacocha SRL and subsidiary [Member] | Debt instruments
Disclosure of financial risk management objectives and policies [line items]
Total	45,423	43,927
Minera Yanacocha SRL and subsidiary [Member] | Debt instruments | Between 2 and 5 years
Disclosure of financial risk management objectives and policies [line items]
Total	45,423	43,927
Minera Yanacocha SRL and subsidiary [Member] | Trade accounts payable - Related parties
Disclosure of financial risk management objectives and policies [line items]
Total	12,374	11,426
Minera Yanacocha SRL and subsidiary [Member] | Trade accounts payable - Related parties | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Total	12,374	11,426
Minera Yanacocha SRL and subsidiary [Member] | Lease liabilities
Disclosure of financial risk management objectives and policies [line items]
Total	330	596
Minera Yanacocha SRL and subsidiary [Member] | Lease liabilities | Less than 1 year
Disclosure of financial risk management objectives and policies [line items]
Total	290	291
Minera Yanacocha SRL and subsidiary [Member] | Lease liabilities | Between 1 to 2 years
Disclosure of financial risk management objectives and policies [line items]
Total	$ 40	$ 305

Financial - risk management o_7

Financial - risk management objectives and policies - Liquidity risk (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial - risk management [Line Items]
Lease liabilities	$ 7,839	$ 7,503
Total	25,086	265,692
Minera Yanacocha SRL and subsidiary [Member]
Financial - risk management [Line Items]
Lease liabilities	$ 330	$ 596

Financial - risk management o_8

Financial - risk management objectives and policies - Carrying value versus fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Disclosure of financial liabilities [abstract]
Financial liabilities at carrying value	$ 531,653	$ 571,688	$ 587,062	$ 633,083
Financial liabilities at fair value	531,745	571,688
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of financial assets [abstract]
Financial assets at carrying value	98,086	87,281
Financial assets at fair value	98,376	89,017
Disclosure of financial liabilities [abstract]
Financial liabilities at carrying value	45,423	43,927
Financial liabilities at fair value	47,479	45,633
Minera Yanacocha SRL and subsidiary [Member] | Trade receivables [member]
Disclosure of financial assets [abstract]
Financial assets at carrying value	27,658	15,016
Financial assets at fair value	27,658	15,016
Minera Yanacocha SRL and subsidiary [Member] | Restricted Cash [Member]
Disclosure of financial assets [abstract]
Financial assets at carrying value	48,752	48,617
Financial assets at fair value	49,042	50,353
Minera Yanacocha SRL and subsidiary [Member] | Financial assets at fair value [member]
Disclosure of financial assets [abstract]
Financial assets at carrying value	21,676	23,648
Financial assets at fair value	21,676	23,648
Minera Yanacocha SRL and subsidiary [Member] | Debt Instrument [Member]
Disclosure of financial liabilities [abstract]
Financial liabilities at carrying value	45,423	43,927
Financial liabilities at fair value	$ 47,479	$ 45,633

Financial - risk management o_9

Financial - risk management objectives and policies - Changes in copper price (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Financial risk management [Line Items]
10% increase in future copper prices	$ 9,282	$ 4,053	$ 1,695
10% decrease in future copper prices	9,282	3,545	1,681
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Financial risk management [Line Items]
10% increase in future copper prices	112,080	99,219	72,847
10% decrease in future copper prices	$ (112,080)	$ (99,219)	$ (72,847)

Financial - risk management _10

Financial - risk management objectives and policies - Aging of obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Disclosure Of Financial risk management [Line Items]
Trade and other payables.	$ 179,956	$ 166,860
Total financial liabilities	531,653	571,688	$ 587,062	$ 633,083
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Financial risk management [Line Items]
Trade accounts payable	207,625	252,865
Accounts payable - related parties	3,446	4,014
Other financial liabilities	602,668	911,675
Trade and other payables.	411,857	479,104
Total financial liabilities	1,225,596	1,647,658
Sociedad Minera Cerro Verde S.A.A. [Member] | On Demands [Member]
Disclosure Of Financial risk management [Line Items]
Trade accounts payable	0	0
Accounts payable - related parties	0	0
Other financial liabilities	0	0
Trade and other payables.	0	0
Total financial liabilities	0	0
Sociedad Minera Cerro Verde S.A.A. [Member] | Not later than three months [member]
Disclosure Of Financial risk management [Line Items]
Trade accounts payable	197,855	245,463
Accounts payable - related parties	3,446	4,014
Other financial liabilities	1,551	3
Trade and other payables.	57,637	40,357
Total financial liabilities	260,489	289,837
Sociedad Minera Cerro Verde S.A.A. [Member] | Later than three months and not later than one year [member]
Disclosure Of Financial risk management [Line Items]
Trade accounts payable	9,770	7,402
Accounts payable - related parties	0	0
Other financial liabilities	8,672	8,852
Trade and other payables.	68,828	59,023
Total financial liabilities	87,270	75,277
Sociedad Minera Cerro Verde S.A.A. [Member] | Later than one year and not later than five years [member]
Disclosure Of Financial risk management [Line Items]
Other financial liabilities	560,750	825,877
Trade and other payables.	285,392	90,019
Total financial liabilities	846,142	915,896
Sociedad Minera Cerro Verde S.A.A. [Member] | More than 5 years
Disclosure Of Financial risk management [Line Items]
Trade accounts payable	0	0
Accounts payable - related parties	0	0
Other financial liabilities	31,695	76,943
Trade and other payables.	0	289,705
Total financial liabilities	$ 31,695	$ 366,648

Financial - risk management _11

Financial - risk management objectives and policies - Additional information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)$ / £	Dec. 31, 2019$ / £	Dec. 31, 2018$ / £
Disclosure Of Financial risk management [Line Items]
Decrease in exchange rate basis points	10.00%	10.00%	10.00%
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Financial risk management [Line Items]
Consolidated minimum net worth | $	$ 2,711,389
Sociedad Minera Cerro Verde S.A.A. [Member] | Minimum
Disclosure Of Financial risk management [Line Items]
10% increase in copper price	3.524	2.865	2.974
10% decrease in copper price	2.884	2.344	2.433
Sociedad Minera Cerro Verde S.A.A. [Member] | Maximum
Disclosure Of Financial risk management [Line Items]
10% increase in copper price	3.876	3.085	2.979
10% decrease in copper price	3.172	2.524	2.437

Financial - risk management _12

Financial - risk management objectives and policies - Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Financial risk management [Line Items]
Leasing	$ 7,839	$ 7,503
Less cash and short-term deposits	(235,449)	(210,046)	$ (369,200)	$ (214,551)
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Financial risk management [Line Items]
Debt and accounts payables	226,333	188,896
Leasing	330	596
Less cash and short-term deposits	(870,929)	(818,503)
Net debt	(644,266)	(629,011)
Total liquidity	$ 870,929	$ 818,503

Selling Expenses (Details)

Selling Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Selling Expenses [Line Items]
Total	$ 18,533	$ 24,313	$ 26,948
Minera Yanacocha SRL and subsidiary [Member]
Disclosure of Selling Expenses [Line Items]
Selling Expense	1,412	1,719	1,551
Other	510	3	1,076
Total	1,922	1,722	2,627
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of Selling Expenses [Line Items]
Copper concentrate freight	89,241	98,933	126,670
Commissions	4,935	5,588	6,048
Cathode freight	2,019	1,890	1,831
Other	1,485	3,072	2,459
Total	$ 97,680	$ 109,483	$ 137,008

Other operating expenses - Othe

Other operating expenses - Other operating expenses (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [line items]
Excess of salaries limit of workers profit sharing	$ 17,146
Royalty non-income tax (b)	10,780
Optimization and prefeasibility/feasibility studies (c)	8,429	$ 14,919	$ 450
Other expenses	1,425	2,895	2,434
Tax contingencies	704	6,119	10,711
Fines and penalties (d)		14,183
Royalties, ITAN and penalties (e)			55,088
Other operating expense	$ 38,484	$ 38,116	$ 68,683

Other operating expenses (Detai

Other operating expenses (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Other operational expenses [Line Items]
Potential liability in the form of fines and interest	$ 14,183
Penalties for income tax related to disputed mining royalties		$ 33,800
Penalties on disputed mining royalties		17,700
Profit sharing adjustments related to GEM refund		$ 3,600
INGEMMET
Disclosure Other operational expenses [Line Items]
Potential liability in the form of fines and interest	6,800
SUNAT
Disclosure Other operational expenses [Line Items]
Potential liability in the form of fines and interest	4,700
OSINERGMIN
Disclosure Other operational expenses [Line Items]
Potential liability in the form of fines and interest	$ 2,700

Financial expenses (Details)

Financial expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance Expense [Line Items]
Financial expenses	$ 37,822	$ 42,173	$ 38,422
Sociedad Minera Cerro Verde S.A.A. [Member]
Finance Expense [Line Items]
Interest on disputed mining royalties (a)	43,838	68,107	370,159
Tax contingencies (b)	54,098	2,488	4,273
Interest on senior unsecured credit facility (see Note 10(b))	22,351	39,083	49,551
Excess of salaries limit in workers profit sharing	16,591	0
Interest for leases (see Note 10(a))	4,875	5,242
Amortization debt issuance cost (See Note 10(b))	1,673	1,768	2,419
Extinguishment of debt - debt issuance cost (see Note 10(b))	902	1,298	1,902
Capitalized Interest associated to capital projects (see Note 7(a))	(2,544)	(4,504)	(3,790)
Other financial expenses	891	2,395	2,219
Financial expenses	$ 142,675	$ 115,877	$ 426,733

Financial expenses - Additional

Financial expenses - Additional inforamtion (Details) - Sociedad Minera Cerro Verde S.A.A. [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2010
Finance Expense [Line Items]
Interest related to the installment payment programs for SMT and disputed mining royalties	$ 38.2	$ 53.6
Interest related to the ITAN				$ 10.4	$ 10.4	$ 10.4
Interest of other taxes related to disputed mining royalty	5.6	2.9
Interest associated with disputed mining royalties		$ 1.2
Interest and interest on penalties associated to disputed mining royalties			$ 218.7
Interest on income tax related to disputed mining royalties			75.7
Interest related to the SMT			51
Interest paid on royalty installment payment program			6.1
Deferral interest related to the new royalty installment payment programs			5.3
Interest of amended tax return			1.3
Interest on royalties, interest paid on the royalty installment payment program and interest on royalty penalties			$ 12.1
Interests related to income tax assessment for the year 2013	31.4
Interests related to uncertain income tax treatments (IFRIC 23) associated primarily to tailing dam income tax	13.1
Interests related to SUNAT assessments	$ 8.7

Financial Income (Details)

Financial Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance Income [Line Items]
Finance income	$ 2,411	$ 9,675	$ 9,685
Sociedad Minera Cerro Verde S.A.A. [Member]
Finance Income [Line Items]
Finance income	$ 2,350	$ 10,356	$ 28,089

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Earnings per share [Line Items]
Profit for the period	$ (150,339)	$ (28,459)	$ (11,654)
Weighted average number of share outstanding (Note 12(a))	253,986,867	253,986,867	253,986,867
Basic and diluted earnings per share	$ (0.53)	$ (0.05)	$ (0.05)
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Earnings per share [Line Items]
Profit for the period	$ 274,544,000	$ 390,377,000	$ 119,710,000
Weighted average number of share outstanding (Note 12(a))	350,056,012	350,056,012	350,056,012
Basic and diluted earnings per share	$ 0.784	$ 1.115	$ 0.342

Fair value measurement - Hierar

Fair value measurement - Hierarchy of assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of fair value measurement [line Items]
Fair value of account receivable (subject to provisional pricing)	$ 126,553	$ 165,546
Bank loans	65,793	55,000
Financial obligations	531,745	571,688
Contingent consideration liability	22,100	16,410	$ 15,755	$ 17,570
Hedge instruments	18,439
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure of fair value measurement [line Items]
Derivative financial asset liabilities	101,434	36,705
Level 1 of fair value hierarchy [member]
Disclosure of fair value measurement [line Items]
Fair value of account receivable (subject to provisional pricing)	0	0
Bank loans	0	0
Financial obligations	0	0
Contingent consideration liability	0	0
Hedge instruments	0	0
Level 2 of fair value hierarchy [member]
Disclosure of fair value measurement [line Items]
Fair value of account receivable (subject to provisional pricing)	126,553	165,546
Bank loans	65,793	55,000
Financial obligations	531,745	571,688
Hedge instruments	18,439
Level 3 of fair value hierarchy [member]
Disclosure of fair value measurement [line Items]
Fair value of account receivable (subject to provisional pricing)	0	0
Bank loans	0	0
Financial obligations	0	0
Contingent consideration liability	22,100	16,410
Hedge instruments	$ 0	$ 0

Fair value measurement - Quanti

Fair value measurement - Quantitative information about the significant unobservable inputs used in level 3 fair value measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items]
Contingent consideration liability at fair value	$ 22,100	$ 16,410	$ 15,755	$ 17,570
Expected revenues annual average [member]
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items]
Contingent consideration liability at fair value	$ 222,238
Possible increase in unobservable input, liabilities	10.00%
Possible decrease in unobservable input, liabilities	10.00%
Amount of increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, liabilities	$ 2,200
Amount of increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, liabilities	2,200
Contingent consideration [member] | At fair value [member] | Rate before tax [member]
Disclosure of significant unobservable inputs used in fair value measurement of liabilities [line items]
Contingent consideration liability at fair value	$ 22,100
Range of inputs	9.30
Percentage of reasonably possible increase in unobservable input, liabilities	10.00%
Percentage of reasonably possible decrease in unobservable input, liabilities	0.93%
Amount of increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, liabilities	$ 1,500
Amount of increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, liabilities	$ 1,500

Fair value measurement - Additi

Fair value measurement - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of fair value measurement [Line Items]
Transfer of assets between level 1 to level2	$ 0
Transfers of assets between Level 2 to Level 1	0
Transfer of liabilities between level 1 to level2	0
Transfers of liabilities between Level 2 to Level 1	0
Assets	3,979,617	$ 4,107,274	$ 4,217,221
Investment property [member]
Disclosure of fair value measurement [Line Items]
Assets	$ 842,000	$ 544,000

Reconciliation between net in_3

Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Jun. 14, 2018	Dec. 31, 2017
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	$ (150,339)	$ (28,459)	$ (11,654)
Items increasing (decreasing) reported net profit:
Impairment loss				$ 0
Profit for the period	(150,339)	(28,459)	(11,654)
Equity	2,799,857	2,968,200	3,029,565			$ 3,063,627
Items increasing (decreasing) reported Partners' equity:
Equity	2,799,857	2,968,200	3,029,565			3,063,627
Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	274,544,000	390,377,000	119,710,000
Items increasing (decreasing) reported net profit:
Profit for the period	274,544,000	390,377,000	119,710,000
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(165,449)	(95,257)	(81,517)
Items increasing (decreasing) reported net profit:
Profit for the period	(165,449)	(95,257)	(81,517)
Equity	324,386	489,712	583,723		$ 6,216	659,115
Items increasing (decreasing) reported Partners' equity:
Equity	324,386	489,712	583,723		$ 6,216	$ 659,115
Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	31,419	(41,508)	(64,452)
Items increasing (decreasing) reported net profit:
Profit for the period	31,419	(41,508)	(64,452)
Equity	(267,596)	(299,015)	(257,507)
Items increasing (decreasing) reported Partners' equity:
Equity	(267,596)	(299,015)	(257,507)
Reclamation and mine closure [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	23	23	1,351
Items increasing (decreasing) reported net profit:
Profit for the period	23	23	1,351
Equity	(5,480)	(5,503)	(5,526)
Items increasing (decreasing) reported Partners' equity:
Equity	(5,480)	(5,503)	(5,526)
Inventories [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(906)	(53,424)	(29,515)
Items increasing (decreasing) reported net profit:
Profit for the period	(906)	(53,424)	(29,515)
Equity	(217,707)	(216,801)	(163,377)
Items increasing (decreasing) reported Partners' equity:
Equity	(217,707)	(216,801)	(163,377)
Deferred workers' profit participation [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(24,255)	(23,449)	(7,079)
Items increasing (decreasing) reported net profit:
Profit for the period	(24,255)	(23,449)	(7,079)
Equity	(87,415)	(63,160)	(39,711)
Items increasing (decreasing) reported Partners' equity:
Equity	(87,415)	(63,160)	(39,711)
Lease Activity [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	1,597	2,071
Items increasing (decreasing) reported net profit:
Profit for the period	1,597	2,071
Equity	3,668	2,071
Items increasing (decreasing) reported Partners' equity:
Equity	3,668	2,071
Deferred income tax [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(6,514)	45,759	33,291
Items increasing (decreasing) reported net profit:
Profit for the period	(6,514)	45,759	33,291
Equity	189,073	195,587	149,828
Items increasing (decreasing) reported Partners' equity:
Equity	189,073	195,587	149,828
Others [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(222)	(134)	(26)
Items increasing (decreasing) reported net profit:
Profit for the period	(222)	(134)	(26)
Equity	(144)	78	212
Items increasing (decreasing) reported Partners' equity:
Equity	(144)	78	212
Effect of transition to IFRSs [member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	274,544	390,377	119,710
Items increasing (decreasing) reported net profit:
Profit for the period	274,544	390,377	119,710
Equity	5,635,328	5,359,323	5,117,732
Items increasing (decreasing) reported Partners' equity:
Equity	5,635,328	5,359,323	5,117,732
Effect of transition to IFRSs [member] | Sociedad Minera Cerro Verde S.A.A. [Member] | Maximum
Items increasing (decreasing) reported net profit:
Equity	5,066,565	4,896,850
Items increasing (decreasing) reported Partners' equity:
Equity	5,066,565	4,896,850
Effect of transition to IFRSs [member] | Sociedad Minera Cerro Verde S.A.A. [Member] | Minimum
Items increasing (decreasing) reported net profit:
Equity	4,972,580	4,801,651
Items increasing (decreasing) reported Partners' equity:
Equity	4,972,580	4,801,651
Effect of transition to IFRSs [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(98,094)	98,573	12,449
Items increasing (decreasing) reported net profit:
Profit for the period	(98,094)	98,573	12,449
Equity	1,078,575	1,176,679	1,078,077
Items increasing (decreasing) reported Partners' equity:
Equity	1,078,575	1,176,679	1,078,077
Effect of transition to IFRSs [member] | Impairment loss [Member] | Minera Yanacocha SRL and subsidiary [Member]
Items increasing (decreasing) reported net profit:
Equity	2,469,188	2,469,188	2,469,188
Items increasing (decreasing) reported Partners' equity:
Equity	2,469,188	2,469,188	2,469,188
Effect of transition to IFRSs [member] | Elimination of impairment loss recorded under US GAAP [Member] | Minera Yanacocha SRL and subsidiary [Member]
Items increasing (decreasing) reported net profit:
Equity	(933,200)	(933,200)	(933,200)
Items increasing (decreasing) reported Partners' equity:
Equity	(933,200)	(933,200)	(933,200)
Effect of transition to IFRSs [member] | Stripping activity asset [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	53
Items increasing (decreasing) reported net profit:
Profit for the period	53
Effect of transition to IFRSs [member] | Stripping activity asset [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(32,169)	7,533	18,227
Items increasing (decreasing) reported net profit:
Profit for the period	(32,169)	7,533	18,227
Equity	(40,409)	(8,240)	(15,773)
Items increasing (decreasing) reported Partners' equity:
Equity	(40,409)	(8,240)	(15,773)
Effect of transition to IFRSs [member] | Reclamation and mine closure [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(61,555)	54,873	(20,537)
Items increasing (decreasing) reported net profit:
Profit for the period	(61,555)	54,873	(20,537)
Equity	64,971	139,834	12,323
Items increasing (decreasing) reported Partners' equity:
Equity	64,971	139,834	12,323
Effect of transition to IFRSs [member] | Inventories [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	55
Items increasing (decreasing) reported net profit:
Profit for the period	55
Effect of transition to IFRSs [member] | Inventories [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(929)	(7,740)	(10,217)
Items increasing (decreasing) reported net profit:
Profit for the period	(929)	(7,740)	(10,217)
Equity	(5,766)	(4,837)	2,903
Items increasing (decreasing) reported Partners' equity:
Equity	(5,766)	(4,837)	2,903
Effect of transition to IFRSs [member] | Deferred workers' profit participation [Member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	38
Items increasing (decreasing) reported net profit:
Profit for the period	38
Effect of transition to IFRSs [member] | Others [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	20	276	151
Items increasing (decreasing) reported net profit:
Profit for the period	20	276	151
Equity	3,681	3,072	2,776
Items increasing (decreasing) reported Partners' equity:
Equity	3,681	3,072	2,776
Effect of transition to IFRSs [member] | Asset retirement obligation [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	16,702	14,504	89,280
Items increasing (decreasing) reported net profit:
Profit for the period	16,702	14,504	89,280
Equity	(29,149)	(59,160)	(1,026)
Items increasing (decreasing) reported Partners' equity:
Equity	(29,149)	(59,160)	(1,026)
Effect of transition to IFRSs [member] | Interest Regarding Tax Claim [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(16,496)	16,839
Items increasing (decreasing) reported net profit:
Profit for the period	(16,496)	16,839
Equity		16,839
Items increasing (decreasing) reported Partners' equity:
Equity		16,839
Effect of transition to IFRSs [member] | Income Tax Payable, Including Fines [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(11,920)	12,168
Items increasing (decreasing) reported net profit:
Profit for the period	(11,920)	12,168
Equity		12,168
Items increasing (decreasing) reported Partners' equity:
Equity		12,168
Effect of transition to IFRSs [member] | Contingencies [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year			1,228
Items increasing (decreasing) reported net profit:
Profit for the period			1,228
Equity	1,228	1,228	1,228
Items increasing (decreasing) reported Partners' equity:
Equity	1,228	1,228	1,228
Effect of transition to IFRSs [member] | Debt instrument interest [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	1,497	1,497	735
Items increasing (decreasing) reported net profit:
Profit for the period	1,497	1,497	735
Effect of transition to IFRSs [member] | Deb instruments [Member] | Minera Yanacocha SRL and subsidiary [Member]
Items increasing (decreasing) reported net profit:
Equity	45,424	43,927	42,430
Items increasing (decreasing) reported Partners' equity:
Equity	45,424	43,927	42,430
Effect of transition to IFRSs [member] | Reversal of depreciation of assets impaired under IFRS [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(97,352)	(205,653)	(320,424)
Items increasing (decreasing) reported net profit:
Profit for the period	(97,352)	(205,653)	(320,424)
Equity	(1,297,689)	(1,200,337)	(994,684)
Items increasing (decreasing) reported Partners' equity:
Equity	(1,297,689)	(1,200,337)	(994,684)
Effect of transition to IFRSs [member] | Reversal of depreciation of assets impaired under US GAAP [Member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	104,108	204,276	254,006
Items increasing (decreasing) reported net profit:
Profit for the period	104,108	204,276	254,006
Equity	800,296	696,188	491,912
Items increasing (decreasing) reported Partners' equity:
Equity	800,296	696,188	491,912
Previous GAAP [member] | Sociedad Minera Cerro Verde S.A.A. [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	275,686	319,715	53,280
Items increasing (decreasing) reported net profit:
Profit for the period	275,686	319,715	53,280
Equity	5,249,727	4,972,580	4,801,651
Items increasing (decreasing) reported Partners' equity:
Equity	5,249,727	4,972,580	4,801,651
Previous GAAP [member] | Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Reconciliation between net income and Partners' Equity determined under IFRS and U.S. GAAP [Line Items]
Profit (loss) for the year	(263,543)	3,316	(69,068)
Items increasing (decreasing) reported net profit:
Profit for the period	(263,543)	3,316	(69,068)
Equity	1,402,962	1,666,382	1,661,800
Items increasing (decreasing) reported Partners' equity:
Equity	$ 1,402,962	$ 1,666,382	$ 1,661,800

Events after the reporting pe_2

Events after the reporting period (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Events after the reporting period
Deferred income tax liability	$ 38,319	$ 28,959

Other accruals and liabilitie_2

Other accruals and liabilities - Caption (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Other Accruals And Liabilities [Line Items]
Lease liabilities	$ 7,839	$ 7,503
Minera Yanacocha SRL and subsidiary [Member]
Disclosure Of Other Accruals And Liabilities [Line Items]
Accrual of capital expenditure	20,147	8,139
Workers' profit sharing payable (b)	17,311	12,793
Interests payable, see note 23	16,840	16,840
Accrual of operating costs (c)	15,938	11,238
Lease liabilities	330	596
Total	70,566	49,606
Classification by maturity:
Current portion	70,526	49,301
Non-current portion	40	305
Total	$ 70,566	$ 49,606

Other accruals and liabilitie_3

Other accruals and liabilities - Additional information (Details) - Minera Yanacocha SRL and subsidiary [Member]	12 Months Ended
	Dec. 31, 2020
Disclosure Of Other Accruals And Liabilities [Line Items]
Employee's profit share on annual taxable income	8.00%
Number of days of work [Member]
Disclosure Of Other Accruals And Liabilities [Line Items]
Percentage of distribution	50.00%
Annual salary levels [Member]
Disclosure Of Other Accruals And Liabilities [Line Items]
Percentage of distribution	50.00%

Summary of significant differ_2

Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles (Details) - USD ($) $ in Thousands	12 Months Ended		48 Months Ended
	Dec. 31, 2020	Dec. 31, 2016	Dec. 31, 2016
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Impairment loss		$ 0
US GAAP [Member] | Minimum
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Percentage of Events Likely To Occur	70.00%
US GAAP [Member] | Maximum
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Percentage of Events Likely To Occur	80.00%
Conga [Member]
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Impairment loss			$ 1,126,543
Yanacocha mine [Member]
Disclosure of Summary of significant differences between accounting principles followed by the Company and U.S. Generally Accepted Accounting Principles [Line Items]
Impairment loss		$ 933,200	$ 1,342,645