BUENAVENTURA MINING CO INC | CIK:0001013131 | 3

  • Filed: 4/30/2018
  • Entity registrant name: BUENAVENTURA MINING CO INC (CIK: 0001013131)
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    • ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory

    30.
    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
     
    -
    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.
     
    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. Also, 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 segment information of profit and loss -
    -
    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.
     
    In the segment information of assets and liabilities -
    -
    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.
     
    Adjustments and eliminations mainly include the following:
    In segment information of consolidated statements of profit and loss –
    -
    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.
     
    In the segment information of assets and liabilities –
    -
    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.
     
    Refer to Note 20(a) to the consolidated financial statements where the Group reports revenues from external customers for each product and service, and revenues from external customers attributed to Peru and foreign countries. The revenue information is based on the locations of customers.
     
    Refer to Note 20(b) to the consolidated financial statements for information about major customers (clients representing more than 10 percent of the Group’s revenues).
     
    All non-current assets are located in Peru.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    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
     
     
    Reconciliation of segment profit (loss)
    The reconciliation of segment profit (loss) to the consolidated profit (loss) from continued operations follows:
     
     
     
    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)
     
     
    Reconciliation of segment assets
    The reconciliation of segment assets to the consolidated assets follows:
     
     
     
    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
     
     
    Reconciliation of segment liabilities
    The reconciliation of segment liabilities to the consolidated liabilities follows:
     
     
     
    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