Cash and cash equivalents

12 Months Ended

Dec. 31, 2025

Cash and cash equivalents

Cash and cash equivalents

6.Cash and cash equivalents

(a)

This caption is made up as follows:


		2025		2024
		US$(000)		US$(000)

Cash on hand		117		76
Balances with banks (b)		43,655		48,799
Short-term deposits (c)		486,067		429,560
		529,839		478,435

See related accounting policies in Note 2.4(c).

(b)

Corresponds to current bank accounts that are readily available and earn interest at market rates.

(c)

As of December 31, 2025 and 2024, time deposits were kept in prime financial institutions, which generated interest at annual market rates and have current maturities, lower than 3 months, according to the immediate cash needs of the Group.

Sociedad Minera Cerro Verde S.A.A.

Cash and cash equivalents

Cash and cash equivalents

3. Cash and cash equivalents

This item is made up as follows:


		December 31,		December 31,
		2025		2024
		US$(000)		US$(000)

Cash in banks (a)		214,198		218,776
Cash equivalents (b)		873,875		470,901

		1,088,073		689,677

(a)

As of December 31, 2025 and 2024, correspond to fund balances held in local and foreign bank accounts, which are unrestricted funds and generate interest.

(b)

Cash equivalents as of December 31, 2025 and 2024, includes a portfolio of investments in highly marketable liquid investments (mainly investments classified as “AAA” by Standard & Poor’s and Moody’s) which yield variable returns, and are classified as cash equivalents because they are readily convertible to known amounts of cash and management plans to use them for its short-term cash needs. Because of the short maturity of these investments (i.e., less than 90 days), the carrying amount of these investments corresponds to their fair value at the date of the financial statements. Changes in the fair value of these investments are presented in the “Financial income” caption (see Note 18).