30. | Disclosure of information on segments |
- | Production and sale of minerals |
- | Exploration and development activities |
- | Construction and engineering services |
- | Energy generation and transmission services |
- | Insurance brokerage |
- | Rental of mining concessions |
- | Holding of investment in shares (mainly in the associate company Minera Yanacocha S.R.L. and the Group’s subsidiary S.M.R.L. Chaupiloma Dos de Cajamarca) |
- | Industrial activities. |
- | Sales to third parties of gold purchased by the Parent company from La Zanja mining unit and the corresponding cost of sale as well as other intercompany sales. |
- | Administrative expenses, other income (expenses), exchange gain (loss), finance costs and income and income tax that cannot be directly allocated to the operational mining units owned by the Parent company (Uchucchacua, Orcopampa, Julcani, Mallay and Tambomayo). |
- | Exploration activities in non-operating areas, carried out directly by the Parent company and not by the consolidated separate legal entities. |
- | Participation in subsidiaries and associate companies of the Parent company, which are accounted for using the equity method. |
- | Investments in Sociedad Minera Cerro Verde S.A.A. and Compañía Minera Coimolache S.A., associate companies which are directly owned by the Parent company and are accounted for using the equity method; see note 10 to the consolidated financial statements. |
- | Assets and liabilities of the operational mining units owned directly by the Parent company since this is the way the CODM analyzes the business. Assets and liabilities of other operating segments are allocated based on the assets and liabilities of the legal entities included in those segments. |
- | The elimination of any profit or loss of investments accounted for under the equity method and not consolidated by the Group corresponding to the associate companies: Minera Yanacocha S.R.L., Sociedad Minera Cerro Verde S.A.A. and Compañía Minera Coimolache S.A. |
- | The elimination of intercompany sales and cost of sales. |
- | The elimination of any equity pickup profit or loss of the subsidiaries of the Parent company. |
- | The elimination of the assets and liabilities of the investments accounted for under the equity method and not consolidated, corresponding to the associate companies: Minera Yanacocha S.R.L., Sociedad Minera Cerro Verde S.A.A. and Compañía Minera Coimolache S.A. |
- | The elimination of any equity pickup investments of the subsidiaries of the Parent company. |
- | The elimination of intercompany receivables and payables. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Equity accounted investees | | | | | | | | |||||||||||||||||||||||||
| | Ucchuchacua (Operation) | | Orcopampa (Operation) | | Julcani (Operation) | | Mallay (Operation) | | Tambomayo (Operation) | | Colquijirca (Operation) | | La Zanja (Operation) | | Exploration and development mining projects | | Construction and engineering | | Energy generation and transmission | | Insurance brokerage | | Rental of mining concessions | | Holding of investment in shares | | Industrial activities | | Corporate | | Minera Yanacocha S.R.L. | | Sociedad Minera Cerro Verde S.A.A | | Compañía Minera Coimolache S.A. | | Total operating segments | | Adjustments and 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) | | US$(000) | | |||||||||||||||||||||
Year 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Results: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sale of goods | | | 272,334 | | | 256,960 | | | 42,785 | | | 36,736 | | | 118,966 | | | 322,653 | | | 165,319 | | | - | | | - | | | - | | | - | | | - | | | - | | | 6,317 | | | 34,650 | | | 645,176 | | | 3,202,931 | | | 203,790 | | | 5,308,617 | | | (4,084,675) | | | 1,223,942 | |
Net sale of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 10,603 | | | 60,639 | | | 14,377 | | | - | | | 615 | | | 19,658 | | | - | | | 21,870 | | | - | | | - | | | 127,762 | | | (98,065) | | | 29,697 | |
Royalty income | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 20,739 | | | - | | | - | | | - | | | - | | | - | | | - | | | 20,739 | | | - | | | 20,739 | |
Total operating income | | | 272,334 | | | 256,960 | | | 42,785 | | | 36,736 | | | 118,966 | | | 322,653 | | | 165,319 | | | - | | | 10,603 | | | 60,639 | | | 14,377 | | | 20,739 | | | 615 | | | 25,975 | | | 34,650 | | | 667,046 | | | 3,202,931 | | | 203,790 | | | 5,457,118 | | | (4,182,740) | | | 1,274,378 | |
Operating costs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of sales of goods | | | (143,288) | | | (115,574) | | | (31,190) | | | (22,783) | | | (53,555) | | | (193,874) | | | (102,474) | | | - | | | - | | | - | | | - | | | - | | | - | | | (6,043) | | | (34,029) | | | (746,918) | | | (1,768,238) | | | (121,021) | | | (3,338,987) | | | 2,711,554 | | | (627,433) | |
Cost of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (9,393) | | | (25,556) | | | - | | | - | | | - | | | (9,354) | | | - | | | (2,062) | | | - | | | - | | | (46,365) | | | 33,411 | | | (12,954) | |
Exploration in operating units | | | (27,068) | | | (38,820) | | | (13,009) | | | (5,617) | | | (9,543) | | | - | | | (871) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (94,928) | | | - | | | (94,928) | |
Depreciation and amortization | | | (23,899) | | | (8,846) | | | (8,122) | | | (3,568) | | | (42,789) | | | (57,199) | | | (48,385) | | | - | | | (129) | | | (9,651) | | | - | | | - | | | - | | | (11,134) | | | - | | | - | | | - | | | - | | | (213,722) | | | - | | | (213,722) | |
Mining royalties | | | (2,280) | | | (22,436) | | | (354) | | | (333) | | | (998) | | | (3,317) | | | (1,499) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (31,217) | | | - | | | (31,217) | |
Total operating costs | | | (196,535) | | | (185,676) | | | (52,675) | | | (32,301) | | | (106,885) | | | (254,390) | | | (153,229) | | | - | | | (9,522) | | | (35,207) | | | - | | | - | | | - | | | (26,531) | | | (34,029) | | | (748,980) | | | (1,768,238) | | | (121,021) | | | (3,725,219) | | | 2,744,965 | | | (980,254) | |
Gross profit (loss) | | | 75,799 | | | 71,284 | | | (9,890) | | | 4,435 | | | 12,081 | | | 68,263 | | | 12,090 | | | - | | | 1,081 | | | 25,432 | | | 14,377 | | | 20,739 | | | 615 | | | (556) | | | 621 | | | (81,934) | | | 1,434,693 | | | 82,769 | | | 1,731,899 | | | (1,437,775) | | | 294,124 | |
Operating expenses, net | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Administrative expenses | | | (19,473) | | | (18,281) | | | (2,878) | | | (2,931) | | | (9,139) | | | (13,061) | | | (2,814) | | | (1,604) | | | (3,606) | | | (2,423) | | | (12,288) | | | (90) | | | (413) | | | (1,203) | | | 443 | | | (4,760) | | | - | | | (3,829) | | | (98,350) | | | 14,753 | | | (83,597) | |
Exploration in non-operating areas | | | (2,676) | | | - | | | - | | | - | | | (3,214) | | | (1,976) | | | (2,870) | | | (2,771) | | | - | | | - | | | - | | | - | | | - | | | - | | | (5,052) | | | - | | | - | | | - | | | (18,559) | | | 297 | | | (18,262) | |
Selling expenses | | | (6,078) | | | (1,016) | | | (605) | | | (1,045) | | | (1,387) | | | (10,914) | | | (881) | | | - | | | - | | | (1,264) | | | - | | | - | | | - | | | (775) | | | (167) | | | (3,922) | | | (141,669) | | | (946) | | | (170,669) | | | 146,581 | | | (24,088) | |
Impairment loss of long-lived assets | | | - | | | - | | | - | | | - | | | - | | | - | | | (21,620) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (21,620) | | | - | | | (21,620) | |
Provision for contingences and others | | | (7,040) | | | (1) | | | (460) | | | (139) | | | (1,002) | | | - | | | (1,370) | | | (4,657) | | | 100 | | | 312 | | | - | | | - | | | - | | | - | | | 378 | | | - | | | - | | | - | | | (13,879) | | | - | | | (13,879) | |
Write off of stripping activity asset | | | - | | | - | | | - | | | - | | | - | | | (13,573) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (13,573) | | | - | | | (13,573) | |
Other, net | | | (1,799) | | | (715) | | | (1,403) | | | (359) | | | (175) | | | (2,922) | | | (970) | | | (94) | | | 1,129 | | | (94) | | | (4) | | | (1) | | | - | | | 216 | | | (2,012) | | | (63,512) | | | (258,826) | | | (587) | | | (332,128) | | | 318,539 | | | (13,589) | |
Total operating expenses, net | | | (37,066) | | | (20,013) | | | (5,346) | | | (4,474) | | | (14,917) | | | (42,446) | | | (30,525) | | | (9,126) | | | (2,377) | | | (3,469) | | | (12,292) | | | (91) | | | (413) | | | (1,762) | | | (6,410) | | | (72,194) | | | (400,495) | | | (5,362) | | | (668,778) | | | 480,170 | | | (188,608) | |
Operating profit (loss) | | | 38,733 | | | 51,271 | | | (15,236) | | | (39) | | | (2,836) | | | 25,817 | | | (18,435) | | | (9,126) | | | (1,296) | | | 21,963 | | | 2,085 | | | 20,648 | | | 202 | | | (2,318) | | | (5,789) | | | (154,128) | | | 1,034,198 | | | 77,407 | | | 1,063,121 | | | (957,605) | | | 105,516 | |
Other income (expense),net | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Share in the results of associates under equity method | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 8,573 | | | - | | | - | | | (66,187) | | | - | | | 21,194 | | | - | | | - | | | - | | | (36,420) | | | 49,627 | | | 13,207 | |
Finance income | | | - | | | - | | | - | | | - | | | - | | | 179 | | | 670 | | | - | | | - | | | 139 | | | 1 | | | 7 | | | 1 | | | 79 | | | 5,614 | | | 5,831 | | | 5,350 | | | 220 | | | 18,091 | | | (12,574) | | | 5,517 | |
Net gain (loss) from currency exchange difference | | | 31 | | | (63) | | | (75) | | | (11) | | | 10 | | | 310 | | | 48 | | | 537 | | | 105 | | | 294 | | | (75) | | | (41) | | | (4) | | | 497 | | | 1,365 | | | 3,636 | | | 13,288 | | | (174) | | | 19,678 | | | (16,750) | | | 2,928 | |
Finance costs | | | (285) | | | (354) | | | (106) | | | (72) | | | (372) | | | (12,017) | | | (1,919) | | | (131) | | | (370) | | | (10,354) | | | (6) | | | (2) | | | (2) | | | (941) | | | (8,980) | | | (23,766) | | | (216,912) | | | (3,304) | | | (279,893) | | | 245,270 | | | (34,623) | |
Total other income (expense), net | | | (254) | | | (417) | | | (181) | | | (83) | | | (362) | | | (11,528) | | | (1,201) | | | 406 | | | (265) | | | (1,348) | | | (80) | | | (36) | | | (66,192) | | | (365) | | | 19,193 | | | (14,299) | | | (198,274) | | | (3,258) | | | (278,544) | | | 265,573 | | | (12,971) | |
Profit (loss) before income tax | | | 38,479 | | | 50,854 | | | (15,417) | | | (122) | | | (3,198) | | | 14,289 | | | (19,636) | | | (8,720) | | | (1,561) | | | 20,615 | | | 2,005 | | | 20,612 | | | (65,990) | | | (2,683) | | | 13,404 | | | (168,427) | | | 835,924 | | | 74,149 | | | 784,577 | | | (692,032) | | | 92,545 | |
Income tax | | | (1,101) | | | (1,085) | | | (153) | | | (124) | | | (538) | | | (3,903) | | | 6,841 | | | - | | | (400) | | | (3,491) | | | (742) | | | (6,044) | | | (38) | | | 1,818 | | | (9,052) | | | (7,026) | | | (486,043) | | | (23,362) | | | (534,443) | | | 516,431 | | | (18,012) | |
Profit (loss) from continued operations | | | 37,378 | | | 49,769 | | | (15,570) | | | (246) | | | (3,736) | | | 10,386 | | | (12,795) | | | (8,720) | | | (1,961) | | | 17,124 | | | 1,263 | | | 14,568 | | | (66,028) | | | (865) | | | 4,352 | | | (175,453) | | | 349,881 | | | 50,787 | | | 250,134 | | | (175,601) | | | 74,533 | |
Loss from discontinued operations, see note 1(e) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (10,098) | |
Net profit | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 64,435 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | | 146,464 | | | 54,114 | | | 20,922 | | | 18,923 | | | 538,057 | | | 792,594 | | | 190,310 | | | 342,759 | | | 14,004 | | | 360,610 | | | 9,004 | | | 6,611 | | | 988,841 | | | 109,669 | | | 1,931,224 | | | 2,019,332 | | | 7,691,007 | | | 380,534 | | | 15,614,979 | | | (11,282,166) | | | 4,332,813 | |
Total liabilities | | | 49,723 | | | 42,242 | | | 18,099 | | | 6,092 | | | 32,501 | | | 388,899 | | | 87,008 | | | 14,527 | | | 5,153 | | | 205,247 | | | 4,616 | | | 2,378 | | | 414 | | | 20,245 | | | 425,413 | | | 1,360,217 | | | 2,501,845 | | | 150,743 | | | 5,315,362 | | | (4,046,176) | | | 1,269,186 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other segment information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Investment in associates | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 1,536,887 | | | - | | | - | | | - | | | 1,536,887 | | | - | | | 1,536,887 | |
Additions to mining concessions, development costs, property, plant and equipment | | | 18,127 | | | 12,674 | | | 1,951 | | | 1,796 | | | 131,119 | | | 61,060 | | | 17,326 | | | 13,733 | | | 3 | | | 852 | | | 14 | | | - | | | - | | | 459 | | | 393 | | | - | | | - | | | - | | | 259,507 | | | - | | | 259,507 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Equity accounted investees | | | | | | | | |||||||||||||||||||||||||
| | Ucchuchacua (Operation) | | Orcopampa (Operation) | | Julcani (Operation) | | Mallay (Operation) | | Tambomayo (Operation) | | Colquijirca (Operation) | | La Zanja (Operation) | | Exploration and development mining projects | | Construction and engineering | | Energy generation and transmission | | Insurance brokerage | | Rental of mining concessions | | Holding of investment in shares | | Industrial activities | | Corporate | | Minera Yanacocha S.R.L. | | Sociedad Minera Cerro Verde S.A.A | | Compañía Minera Coimolache S.A. | | Total operating segments | | Adjustments and 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$(000) | | US$(000) | | |||||||||||||||||||||
Year 2016 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Results: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sale of goods | | | 240,470 | | | 244,745 | | | 54,666 | | | 46,741 | | | - | | | 230,611 | | | 178,922 | | | - | | | - | | | - | | | - | | | - | | | - | | | 5,982 | | | 191,075 | | | 761,193 | | | 2,384,154 | | | 198,873 | | | 4,537,432 | | | (3,521,762) | | | 1,015,670 | |
Net sale of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 12,633 | | | 57,312 | | | 12,675 | | | - | | | 615 | | | 19,507 | | | - | | | 17,713 | | | - | | | - | | | 120,455 | | | (91,673) | | | 28,782 | |
Royalty income | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 24,339 | | | - | | | - | | | - | | | - | | | - | | | - | | | 24,339 | | | - | | | 24,339 | |
Total operating income | | | 240,470 | | | 244,745 | | | 54,666 | | | 46,741 | | | - | | | 230,611 | | | 178,922 | | | | | | 12,633 | | | 57,312 | | | 12,675 | | | 24,339 | | | 615 | | | 25,489 | | | 191,075 | | | 778,906 | | | 2,384,154 | | | 198,873 | | | 4,682,226 | | | (3,613,435) | | | 1,068,791 | |
Operating costs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of sales of goods | | | (118,561) | | | (97,325) | | | (23,633) | | | (23,392) | | | - | | | (178,231) | | | (80,873) | | | - | | | - | | | - | | | - | | | - | | | - | | | (2,962) | | | (190,041) | | | (725,740) | | | (1,553,040) | | | (107,913) | | | (3,101,711) | | | 2,603,899 | | | (497,812) | |
Cost of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (9,732) | | | (25,250) | | | - | | | - | | | - | | | (8,723) | | | - | | | (2,951) | | | - | | | - | | | (46,656) | | | 35,902 | | | (10,754) | |
Exploration in operating units | | | (31,406) | | | (45,111) | | | (11,069) | | | (7,960) | | | - | | | - | | | (603) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (96,149) | | | - | | | (96,149) | |
Depreciation and amortization | | | (18,541) | | | (11,403) | | | (6,756) | | | (11,393) | | | - | | | (53,637) | | | (67,542) | | | (27) | | | (253) | | | (10,904) | | | - | | | (16) | | | (221) | | | (10,968) | | | (986) | | | - | | | - | | | - | | | (192,647) | | | - | | | (192,647) | |
Mining royalties | | | (1,687) | | | (21,482) | | | (381) | | | (314) | | | - | | | (2,726) | | | (1,021) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (27,611) | | | - | | | (27,611) | |
Total operating costs | | | (170,195) | | | (175,321) | | | (41,839) | | | (43,059) | | | - | | | (234,594) | | | (150,039) | | | (27) | | | (9,985) | | | (36,154) | | | - | | | (16) | | | (221) | | | (22,653) | | | (191,027) | | | (728,691) | | | (1,553,040) | | | (107,913) | | | (3,464,774) | | | 2,639,801 | | | (824,973) | |
Gross profit (loss) | | | 70,275 | | | 69,424 | | | 12,827 | | | 3,682 | | | - | | | (3,983) | | | 28,883 | | | (27) | | | 2,648 | | | 21,158 | | | 12,675 | | | 24,323 | | | 394 | | | 2,836 | | | 48 | | | 50,215 | | | 831,114 | | | 90,960 | | | 1,217,452 | | | (973,634) | | | 243,818 | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Administrative expenses | | | (13,265) | | | (13,810) | | | (4,582) | | | (2,708) | | | (3,274) | | | (11,802) | | | (1,980) | | | (3,750) | | | (4,492) | | | (2,450) | | | (12,245) | | | (112) | | | (227) | | | (635) | | | (12,083) | | | (8,780) | | | - | | | (4,144) | | | (100,339) | | | 18,647 | | | (81,692) | |
Exploration in non-operating areas | | | - | | | - | | | - | | | - | | | (7,517) | | | (1,939) | | | (4,619) | | | (9,585) | | | - | | | - | | | - | | | - | | | - | | | - | | | (4,129) | | | - | | | - | | | - | | | (27,789) | | | 1,200 | | | (26,589) | |
Selling expenses | | | (4,632) | | | (1,075) | | | (845) | | | (1,549) | | | - | | | (10,650) | | | (938) | | | - | | | - | | | (1,124) | | | - | | | - | | | - | | | (1,154) | | | (115) | | | (3,695) | | | (131,391) | | | (1,128) | | | (158,296) | | | 136,563 | | | (21,733) | |
Impairment loss of long-lived assets | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (889,499) | | | - | | | - | | | (889,499) | | | 889,499 | | | - | |
Provision for contingencies | | | 1,121 | | | (110) | | | (630) | | | 49 | | | 69 | | | - | | | - | | | (1,399) | | | (286) | | | (467) | | | - | | | - | | | - | | | - | | | 1,088 | | | - | | | - | | | - | | | (565) | | | - | | | (565) | |
Other, net | | | 1,144 | | | 874 | | | 74 | | | (372) | | | 421 | | | 276 | | | 4,237 | | | 2,180 | | | 2,198 | | | 10,994 | | | - | | | 11 | | | (16) | | | 546 | | | 8,081 | | | (122,151) | | | (24,107) | | | 755 | | | (114,855) | | | 133,812 | | | 18,957 | |
Total operating expenses, net | | | (15,632) | | | (14,121) | | | (5,983) | | | (4,580) | | | (10,301) | | | (24,115) | | | (3,300) | | | (12,554) | | | (2,580) | | | 6,953 | | | (12,245) | | | (101) | | | (243) | | | (1,243) | | | (7,158) | | | (1,024,125) | | | (155,498) | | | (4,517) | | | (1,291,343) | | | 1,179,721 | | | (111,622) | |
Operating profit (loss) | | | 54,643 | | | 55,303 | | | 6,844 | | | (898) | | | (10,301) | | | (28,098) | | | 25,583 | | | (12,581) | | | 68 | | | 28,111 | | | 430 | | | 24,222 | | | 151 | | | 1,593 | | | (7,110) | | | (973,910) | | | 675,616 | | | 86,443 | | | (73,891) | | | 206,087 | | | 132,196 | |
Other income (expense),net | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Share in the results of associates under equity method | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 4,579 | | | (9) | | | - | | | (448,017) | | | - | | | (370,381) | | | - | | | - | | | - | | | (813,828) | | | 448,507 | | | (365,321) | |
Finance income | | | 3 | | | 3 | | | 1 | | | - | | | - | | | 256 | | | 87 | | | - | | | 8 | | | 820 | | | 12 | | | - | | | 4 | | | 1 | | | 7,480 | | | 2,132 | | | 954 | | | 38 | | | 11,799 | | | (4,969) | | | 6,830 | |
Net gain (loss) from currency exchange difference | | | (203) | | | (59) | | | (61) | | | (46) | | | 57 | | | (270) | | | 65 | | | 505 | | | 5 | | | (138) | | | 426 | | | (93) | | | 5 | | | 222 | | | 2,223 | | | (13,741) | | | 7,857 | | | (117) | | | (3,363) | | | 6,001 | | | 2,638 | |
Finance costs | | | (379) | | | (197) | | | (87) | | | (41) | | | (137) | | | (12,554) | | | (2,614) | | | (163) | | | (545) | | | (10,564) | | | (10) | | | (2) | | | (14) | | | (962) | | | (5,156) | | | (15,107) | | | (80,438) | | | (1,614) | | | (130,584) | | | 99,004 | | | (31,580) | |
Total other income (expense), net | | | (579) | | | (253) | | | (147) | | | (87) | | | (80) | | | (12,568) | | | (2,462) | | | 342 | | | (532) | | | (5,303) | | | 419 | | | (95) | | | (448,022) | | | (739) | | | (365,834) | | | (26,716) | | | (71,627) | | | (1,693) | | | (935,976) | | | 548,543 | | | (387,433) | |
Profit (loss) before income tax | | | 54,064 | | | 55,050 | | | 6,697 | | | (985) | | | (10,381) | | | (40,666) | | | 23,121 | | | (12,239) | | | (464) | | | 22,808 | | | 849 | | | 24,127 | | | (447,871) | | | 854 | | | (372,944) | | | (1,000,626) | | | 603,989 | | | 84,750 | | | (1,009,867) | | | 754,630 | | | (255,237) | |
Income tax | | | (1,814) | | | (1,895) | | | (424) | | | (365) | | | - | | | 7,851 | | | (18,256) | | | (245) | | | (178) | | | (9,224) | | | (245) | | | (6,761) | | | - | | | 461 | | | (22,409) | | | (43,126) | | | (263,082) | | | (27,894) | | | (387,606) | | | 334,102 | | | (53,504) | |
Profit (loss) from continued operations | | | 52,250 | | | 53,155 | | | 6,273 | | | (1,350) | | | (10,381) | | | (32,815) | | | 4,865 | | | (12,484) | | | (642) | | | 13,584 | | | 604 | | | 17,366 | | | (447,871) | | | 1,315 | | | (395,353) | | | (1,043,752) | | | 340,907 | | | 56,856 | | | (1,397,473) | | | 1,088,732 | | | (308,741) | |
Loss from discontinued operations, see note 1(e) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (19,073) | |
Net loss | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (327,814) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | | 105,950 | | | 46,085 | | | 25,118 | | | 16,958 | | | 415,341 | | | 763,092 | | | 246,106 | | | 330,169 | | | 22,481 | | | 379,964 | | | 6,226 | | | 7,439 | | | 427,439 | | | 120,038 | | | 2,593,838 | | | 2,045,825 | | | 7,635,623 | | | 334,555 | | | 15,522,247 | | | (11,255,832) | | | 4,266,415 | |
Total liability | | | 35,148 | | | 26,536 | | | 19,733 | | | 7,302 | | | 582 | | | 353,184 | | | 129,689 | | | 14,831 | | | 11,647 | | | 222,324 | | | 3,102 | | | 2,684 | | | 148 | | | 29,751 | | | 556,172 | | | 1,160,102 | | | 2,796,342 | | | 131,051 | | | 5,500,328 | | | (4,281,126) | | | 1,219,202 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other segment information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Investment in associates | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 1,536,607 | | | - | | | - | | | - | | | 1,536,607 | | | - | | | 1,536,607 | |
Additions to mining concessions, development costs, property, plant and equipment | | | 28,899 | | | 3,451 | | | 759 | | | 2,729 | | | 230,223 | | | 51,289 | | | 14,995 | | | 25,450 | | | 27 | | | 4,236 | | | 39 | | | - | | | - | | | 3,719 | | | 1,018 | | | - | | | - | | | - | | | 366,834 | | | - | | | 366,834 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Equity accounted investees | | | | | | | | |||||||||||||||||||||||||
| | Ucchuchacua (Operation) | | Orcopampa (Operation) | | Julcani (Operation) | | Mallay (Operation) | | Tambomayo (Operation) | | Colquijirca (Operation) | | La Zanja (Operation) | | Exploration and development mining projects | | Construction and engineering | | Energy generation and transmission | | Insurance brokerage | | Rental of mining concessions | | Holding of investment in shares | | Industrial activities | | Corporate | | Minera Yanacocha S.R.L. | | Sociedad Minera Cerro Verde S.A.A | | Compañía Minera Coimolache S.A. | | Total operating segments | | Adjustments and 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) | | US$(000) | | |||||||||||||||||||||
Year 2015 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Results: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Continuing operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sale of goods | | | 166,055 | | | 254,118 | | | 50,254 | | | 32,018 | | | - | | | 171,294 | | | 161,007 | | | - | | | - | | | - | | | - | | | - | | | - | | | 3,649 | | | 168,667 | | | 1,031,174 | | | 1,115,617 | | | 177,347 | | | 3,331,200 | | | (2,484,931) | | | 846,269 | |
Net sale of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 48,758 | | | 48,339 | | | 11,929 | | | - | | | - | | | 13,399 | | | - | | | 10,625 | | | - | | | - | | | 133,050 | | | (82,211) | | | 50,839 | |
Royalty income | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 32,414 | | | - | | | - | | | - | | | - | | | - | | | - | | | 32,414 | | | - | | | 32,414 | |
Total operating income | | | 166,055 | | | 254,118 | | | 50,254 | | | 32,018 | | | - | | | 171,294 | | | 161,007 | | | - | | | 48,758 | | | 48,339 | | | 11,929 | | | 32,414 | | | - | | | 17,048 | | | 168,667 | | | 1,041,799 | | | 1,115,617 | | | 177,347 | | | 3,496,664 | | | (2,567,142) | | | 929,522 | |
Operating costs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of sales of goods | | | (126,728) | | | (112,707) | | | (26,725) | | | (20,709) | | | - | | | (158,804) | | | (106,750) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (169,236) | | | (751,736) | | | (862,004) | | | (104,549) | | | (2,439,948) | | | 1,926,458 | | | (513,490) | |
Cost of services | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (48,544) | | | (20,767) | | | - | | | - | | | - | | | (16,820) | | | - | | | (2,524) | | | - | | | - | | | (88,655) | | | 29,043 | | | (59,612) | |
Exploration in operating units | | | (27,784) | | | (41,705) | | | (12,699) | | | (7,539) | | | - | | | - | | | (41) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (89,768) | | | 69 | | | (89,699) | |
Depreciation and amortization | | | (15,767) | | | (17,313) | | | (11,349) | | | (15,439) | | | - | | | (45,752) | | | (104,984) | | | (17) | | | (850) | | | (10,260) | | | - | | | (54) | | | (226) | | | (9,545) | | | (1,027) | | | - | | | - | | | - | | | (232,583) | | | - | | | (232,583) | |
Mining royalties | | | (1,142) | | | (23,877) | | | (337) | | | (234) | | | - | | | - | | | (1,597) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (1) | | | - | | | - | | | - | | | (27,188) | | | - | | | (27,188) | |
Total operating costs | | | (171,421) | | | (195,602) | | | (51,110) | | | (43,921) | | | - | | | (204,556) | | | (213,372) | | | (17) | | | (49,394) | | | (31,027) | | | - | | | (54) | | | (226) | | | (26,365) | | | (170,264) | | | (754,260) | | | (862,004) | | | (104,549) | | | (2,878,142) | | | 1,955,570 | | | (922,572) | |
Gross profit (loss) | | | (5,366) | | | 58,516 | | | (856) | | | (11,903) | | | - | | | (33,262) | | | (52,365) | | | (17) | | | (636) | | | 17,312 | | | 11,929 | | | 32,360 | | | (226) | | | (9,317) | | | (1,597) | | | 287,539 | | | 253,613 | | | 72,798 | | | 618,522 | | | (611,572) | | | 6,950 | |
Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Administrative expenses | | | (10,739) | | | (16,698) | | | (3,623) | | | (2,080) | | | (169) | | | (19,181) | | | (2,251) | | | (1,275) | | | (7,859) | | | (3,422) | | | (11,296) | | | (106) | | | (209) | | | (654) | | | (11,370) | | | (26,325) | | | - | | | (2,185) | | | (119,442) | | | 35,070 | | | (84,372) | |
Exploration in non-operating areas | | | - | | | - | | | - | | | - | | | (12,651) | | | (2,366) | | | (8,954) | | | (3,241) | | | - | | | - | | | - | | | - | | | - | | | - | | | (5,685) | | | - | | | - | | | - | | | (32,897) | | | 2,287 | | | (30,610) | |
Selling expenses | | | (3,552) | | | (851) | | | (1,055) | | | (1,424) | | | - | | | (9,056) | | | (1,207) | | | - | | | - | | | (806) | | | - | | | - | | | - | | | (1,411) | | | (3) | | | (3,534) | | | (56,215) | | | (1,111) | | | (80,225) | | | 60,860 | | | (19,365) | |
Impairment loss of long-lived assets | | | - | | | - | | | - | | | - | | | - | | | - | | | (3,803) | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (672) | | | (4,475) | | | 672 | | | (3,803) | |
Provision for contingencies | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | (472) | | | - | | | - | | | - | | | - | | | 77 | | | - | | | - | | | | | | (395) | | | - | | | (395) | |
Other, net | | | 1,836 | | | (1,182) | | | (125) | | | (67) | | | 156 | | | (2,657) | | | (687) | | | (1,251) | | | 7,417 | | | 167 | | | (4) | | | - | | | 793 | | | 98 | | | 6,252 | | | (82,846) | | | (26,600) | | | 765 | | | (97,935) | | | 92,595 | | | (5,340) | |
Total operating expenses, net | | | (12,455) | | | (18,731) | | | (4,803) | | | (3,571) | | | (12,664) | | | (33,260) | | | (16,902) | | | (5,767) | | | (442) | | | (4,533) | | | (11,300) | | | (106) | | | 584 | | | (1,967) | | | (10,729) | | | (112,705) | | | (82,815) | | | (3,203) | | | (335,369) | | | 191,484 | | | (143,885) | |
Operating profit (loss) | | | (17,821) | | | 39,785 | | | (5,659) | | | (15,474) | | | (12,664) | | | (66,522) | | | (69,267) | | | (5,784) | | | (1,078) | | | 12,779 | | | 629 | | | 32,254 | | | 358 | | | (11,284) | | | (12,326) | | | 174,834 | | | 170,798 | | | 69,595 | | | 283,153 | | | (420,088) | | | (136,935) | |
Other income (expense),net | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Share in the results of associates under equity method | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 6,561 | | | 478 | | | 2 | | | - | | | (187,269) | | | - | | | (268,463) | | | - | | | - | | | - | | | (448,691) | | | 275,316 | | | (173,375) | |
Finance income | | | 5 | | | 5 | | | 2 | | | - | | | - | | | 154 | | | 16 | | | - | | | 182 | | | 23 | | | 13 | | | - | | | - | | | - | | | 10,785 | | | 673 | | | 512 | | | 23 | | | 12,393 | | | (1,367) | | | 11,026 | |
Net gain (loss) from currency exchange difference | | | 539 | | | 461 | | | 378 | | | 75 | | | (63) | | | (3,832) | | | (1,973) | | | (1,734) | | | (1,393) | | | (1,586) | | | (165) | | | 45 | | | 4 | | | (2,162) | | | (2,287) | | | (251) | | | (75,770) | | | (1,300) | | | (91,014) | | | 77,321 | | | (13,693) | |
Finance costs | | | (195) | | | (235) | | | (152) | | | (108) | | | (163) | | | (10,096) | | | (3,684) | | | (52) | | | (1,413) | | | (8,817) | | | (21) | | | (4) | | | (1) | | | (842) | | | (4,043) | | | -22,734 | | | (16,010) | | | (51) | | | (68,621) | | | 41,049 | | | (27,572) | |
Total other income (expense), net | | | 349 | | | 231 | | | 228 | | | (33) | | | (226) | | | (13,774) | | | (5,641) | | | (1,786) | | | 3,937 | | | (9,902) | | | (171) | | | 41 | | | (187,266) | | | (3,004) | | | (264,008) | | | (22,312) | | | (91,268) | | | (1,328) | | | (595,933) | | | 392,319 | | | (203,614) | |
Profit (loss) before income tax | | | (17,472) | | | 40,016 | | | (5,431) | | | (15,507) | | | (12,890) | | | (80,296) | | | (74,908) | | | (7,570) | | | 2,859 | | | 2,877 | | | 458 | | | 32,295 | | | (186,908) | | | (14,288) | | | (276,334) | | | 152,522 | | | 79,530 | | | 68,267 | | | (312,780) | | | (27,769) | | | (340,549) | |
Income tax | | | (518) | | | (602) | | | (140) | | | (78) | | | - | | | 4,109 | | | 5,702 | | | - | | | (4,386) | | | (3,887) | | | (299) | | | (9,186) | | | (87) | | | 584 | | | (5,975) | | | (602,717) | | | (46,246) | | | (29,861) | | | (693,587) | | | 678,824 | | | (14,763) | |
Profit (loss) from continued operations | | | (17,990) | | | 39,414 | | | (5,571) | | | (15,585) | | | (12,890) | | | (76,187) | | | (69,206) | | | (7,570) | | | (1,527) | | | (1,010) | | | 159 | | | 23,109 | | | (186,995) | | | (13,704) | | | (282,309) | | | (450,195) | | | 33,284 | | | 38,406 | | | (1,006,367) | | | 651,055 | | | (355,312) | |
Loss from discontinued operations, see note 1(e) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (20,233) | |
Net loss | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (375,545) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | | 86,961 | | | 51,746 | | | 27,228 | | | 24,279 | | | 168,835 | | | 739,941 | | | 220,331 | | | 303,484 | | | 31,463 | | | 393,318 | | | 5,979 | | | 9,397 | | | 997,835 | | | 118,012 | | | 3,067,988 | | | 2,965,430 | | | 7,852,692 | | | 238,175 | | | 17,303,094 | | | (12,755,913) | | | 4,547,181 | |
Total liability | | | 16,663 | | | 14,817 | | | 6,538 | | | 2,803 | | | 9,100 | | | 364,455 | | | 106,846 | | | 4,590 | | | 29,599 | | | 235,695 | | | 3,457 | | | 3,508 | | | 2,831 | | | 31,479 | | | 465,244 | | | 736,605 | | | 3,354,318 | | | 63,119 | | | 5,451,667 | | | (4,293,722) | | | 1,157,945 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Other segment information | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Investment in associates | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 2,043,983 | | | - | | | - | | | - | | | 2,043,983 | | | - | | | 2,043,983 | |
Additions to mining concessions, development costs, property, plant and equipment | | | 20,245 | | | 8,198 | | | 1,323 | | | 2,259 | | | 77,093 | | | 37,571 | | | 27,741 | | | 26,740 | | | 527 | | | 6,159 | | | 85 | | | - | | | 1,205 | | | 2,140 | | | - | | | - | | | - | | | - | | | 211,286 | | | - | | | 211,286 | |
| | 2017 | | 2016 | | 2015 | | |||
| | US$(000) | | US$(000) | | US$(000) | | |||
| | | | | | | | | | |
Segments profit (loss) from continued operations | | | 250,134 | | | (1,397,473) | | | (1,006,367) | |
Elimination of profit of equity accounted investees, not consolidated (owned by third parties) | | | (225,215) | | | 645,989 | | | 203,912 | |
Elimination of intercompany sales | | | (108,973) | | | (251,502) | | | (232,380) | |
Elimination of intercompany cost of sales | | | 106,726 | | | 250,157 | | | 228,914 | |
Elimination of share in the results of subsidiaries and associates | | | 49,627 | | | 448,507 | | | 448,691 | |
Others | | | 2,234 | | | (4,419) | | | 1,918 | |
| | | | | | | | | | |
Consolidated profit (loss) from continued operations | | | 74,533 | | | (308,741) | | | (355,312) | |
| | 2017 | | 2016 | | 2015 | | |||
| | US$(000) | | US$(000) | | US$(000) | | |||
| | | | | | | | | | |
Segments assets | | | 15,614,979 | | | 15,522,247 | | | 17,303,094 | |
Elimination of assets of equity accounted investees, not consolidated (owned by third parties) | | | (10,090,873) | | | (10,016,003) | | | (8,128,519) | |
Elimination of equity pick up investments of the subsidiaries and associates of the Parent company | | | (1,186,783) | | | (1,047,758) | | | (4,486,717) | |
Elimination of intercompany receivables | | | (32,769) | | | (192,958) | | | (138,703) | |
Others | | | 28,259 | | | 887 | | | (1,974) | |
| | | | | | | | | | |
Consolidated assets | | | 4,332,813 | | | 4,266,415 | | | 4,547,181 | |
| | 2017 | | 2016 | | 2015 | | |||
| | US$(000) | | US$(000) | | US$(000) | | |||
| | | | | | | | | | |
Segments liabilities | | | 5,315,362 | | | 5,500,328 | | | 5,451,667 | |
Elimination of liabilities of equity accounted investees, not consolidated | | | (4,012,805) | | | (4,087,495) | | | (4,154,042) | |
Elimination of intercompany payables | | | (32,769) | | | (192,958) | | | (138,703) | |
Others | | | (602) | | | (673) | | | (977) | |
| | | | | | | | | | |
Consolidated liabilities | | | 1,269,186 | | | 1,219,202 | | | 1,157,945 | |