| Trade and other receivables |
7.Trade and other receivables | (a) | This caption is made up as follows |
| | | | | | | 2025 | | 2024 | | | US$(000) | | US$(000) | Trade receivables (b) | | | | | Domestic clients | | 401,547 | | 161,743 | Foreign clients | | 85,651 | | 55,693 | Related entities, note 31(b) | | 406 | | 669 | | | 487,604 | | 218,105 | Allowance for expected credit losses (g) | | (22,330) | | (24,567) | | | 465,274 | | 193,538 | Other receivables | | | | | Tax claims (c) | | 591,096 | | 535,860 | Value added tax credit | | 59,952 | | 61,452 | Other accounts receivables to third parties | | 21,665 | | 26,284 | Loans to third parties | | 9,255 | | 1,067 | Accounts receivable from Howden Holdco Perú (h), note 27(d) | | 8,090 | | 7,480 | Bank accounts in trust (d) | | 6,744 | | 2,839 | Refund of value added tax applications (e) | | 6,513 | | 8,963 | Interest receivable | | 4,095 | | 3,525 | Advances to suppliers | | 3,654 | | 2,704 | Restricted bank accounts (f) | | 3,136 | | 9,902 | Related entities, note 31(b) | | 3,026 | | 2,285 | Other accounts receivables | | 482 | | 1,407 | | | 717,708 | | 663,768 | Allowance for expected credit losses (g) | | (4,104) | | (2,757) | | | 713,604 | | 661,011 | Total trade and other receivables | | 1,178,878 | | 854,549 | | | | | | Classification by maturity: | | | | | Current portion | | 532,463 | | 256,602 | Non-current portion | | 646,415 | | 597,947 | Total trade and other receivables | | 1,178,878 | | 854,549 | | | | | | Classification by nature: | | | | | Financial receivables | | 514,573 | | 245,435 | Non-financial receivables | | 664,305 | | 609,114 | Total trade and other receivables | | 1,178,878 | | 854,549 | | | | | | Classification by measurement: | | | | | Trade receivables (not subject to provisional pricing) | | 81,103 | | 83,466 | Trade receivables (subject to provisional pricing) | | 384,171 | | 110,072 | Other accounts receivables | | 713,604 | | 661,011 | Total trade and other receivables | | 1,178,878 | | 854,549 |
See related accounting policies in Note 2.4 (b). | (b) | Trade accounts receivable are denominated in U.S. dollars, are neither due nor impaired (except for those included in the Group’s allowance for expected credit losses, see (g)) do not yield interest and have no specific guarantees. |
| (c) | Corresponds to forced payments of tax debts that are in litigation and that, in the opinion of management and its legal advisors, a favorable result should be obtained in the judicial and administrative processes that have been initiated, see note 30(d): |
| | | | | | | | | Payment | | 2025 | | 2024 | Detail | | Date | | US$(000) | | US$(000) | | | | | | | | Buenaventura - | | | | | | | Payment of tax debt for fiscal year 2007 - 2008 | | July 2021 | | 470,432 | | 420,361 | Payment of tax debt for fiscal year 2010 (c.1) | | July 2021 | | 69,326 | | 94,915 | Payment of tax debt for fiscal year 2009 | | July 2021 | | 57,593 | | 51,463 | SUNAT seizure for payment on account from January to December 2009; January and February 2010 | | December 2019 | | 35,814 | | 32,002 | Payment of part of the tax liability debt for fiscal year 2007 | | November and December 2020 | | 21,461 | | 19,176 | SUNAT seizure for payment on account on Income Tax 2007-2008-2009 | | January 2021 | | 5,709 | | 5,101 | Payment in claim to SUNAT for the ITAN 2020 | | August 2025 | | 4,242 | | — | Payment in claim to SUNAT for the year 2018 | | August 2023 | | 3,183 | | 2,844 | Payment of tax debt for fiscal year 2017 | | December 2022 | | 2,749 | | 2,456 | Payment in claim to SUNAT for the ITAN 2021 | | November 2025 | | 2,278 | | — | Other minors | | | | 5,794 | | 4,429 | | | | | 678,581 | | 632,747 | Liability related to tax claims (c.2) | | | | (102,543) | | (113,140) | | | | | 576,038 | | 519,607 | | | | | | | | El Brocal - | | | | | | | Payment under protest of the tax liability for fiscal year 2017 | | October 2023 | | 6,705 | | 5,993 | Other minors | | | | 1,565 | | 1,043 | | | | | 8,270 | | 7,036 | Río Seco - | | | | | | | Forced payment of part of the VAT liability for 2012. | | July to September 2019 | | — | | 3,229 | | | | | | | | La Zanja - | | | | | | | SUNAT seizure for income tax for fiscal year 2016 | | October 2022 | | 2,668 | | 2,384 | Forced payment of part of the tax debt for fiscal year 2013-2015. | | April 2021 | | 911 | | 814 | Forced payment of part of the tax debt for fiscal year 2019 | | December 2023 | | 542 | | 484 | | | | | 4,121 | | 3,682 | Other minor claims of subsidiaries | | | | 2,667 | | 2,306 | | | | | 591,096 | | 535,860 |
| (c.1) | In May 2025, the Group received a refund from the Tax Authority amounting to S/63.2 million (equivalent to US$17.2 million), of which S/44.7 million (equivalent to US$12.1 million) was recognized as a reduction of the related account receivable, and S/20.6 million (equivalent to US$5.6 million) was recognized as finance income. Additionally, in November 2025, the Group received a refund from the Tax Authority amounting to S/116 million (equivalent to US$34.4 million), of which S/79.2 million (equivalent to US$23.4 million) was recognized as a reduction of accounts receivable, and S/36.8 million (equivalent to US$11 million) was recognized as financial income. Additionally, the variation of the year 2025 includes the exchange rate variation. |
| (c.2) | As December 31, 2025, the amount includes the following: |
| | | | | | | | | | | Tax claim liability, | | | | | Disbursements | | note 31(d) | | Tax claims | Years | | US$(000) | | US$(000) | | US$(000) | | | | | | | | 2007 | | 201,983 | | — | | 201,983 | 2008 | | 289,911 | | — | | 289,911 | 2009 | | 95,184 | | (38,947) | | 56,237 | 2010 | | 73,730 | | (63,596) | | 10,134 | 2017 | | 2,749 | | — | | 2,749 | 2018 | | 3,183 | | — | | 3,183 | 2019 | | 754 | | — | | 754 | 2020 | | 1,391 | | — | | 1,391 | Buenaventura’s forced payments claimed | | 668,885 | | (102,543) | | 566,342 | Other Buenaventura’s claims | | 9,696 | | — | | 9,696 | Other Buenaventura’s subsidiaries forced payments claimed | | 15,058 | | — | | 15,058 | Total | | 693,639 | | (102,543) | | 591,096 |
As a result of the reimbursements received in November 2025, as indicated in c.1, during that month, the Group reversed an amount of S/75,983,000 (equivalent to US$22,519,000) related to the tax claim liability initially recognized in 2023 in connection with the income tax of the 2010 fiscal year. This reversal was recognized under finance income, other, net, and current income tax expense in the amounts of US$11,906,000, US$10,574,000, and US$39,000; respectively, notes 28, 27, and 29; respectively. Additionally, the variation of the year 2025 includes the exchange rate variation. | (d) | Corresponds to collections that are deposited in a restricted account in Banco de la Nación that can only be used for the payment of tax obligations maintained by Group with the Tax Administration. |
| (e) | Corresponds mainly to current year refunds applications that are pending as of December 31 of each period. |
| (f) | Corresponds to collections that are deposited into a restricted account, which may only be used to settle financial obligations maintained by the Subsidiary Empresa de Generación Huanza .S.A. (hereinafter “Huanza”) in accordance with the finance lease agreement entered into with Banco de Crédito del Perú in 2009. |
Furthermore, in December 2024, the Tax Authority issued a garnishment order, performing collection from the detraction account held by the Company at Banco de la Nación as of that date. These funds are being used to settle the Company’s tax liabilities. | (g) | Below is presented the movement in the allowance for expected credit losses: |
| | | | | | | | | 2025 | | 2024 | | 2023 | | | US$(000) | | US$(000) | | US$(000) | | | | | | | | Beginning balance | | 27,324 | | 26,417 | | 26,382 | Exchange rate variation | | (890) | | 907 | | 35 | Final balance | | 26,434 | | 27,324 | | 26,417 | | | | | | | | Trade receivables | | 22,330 | | 24,567 | | 22,276 | Other receivables | | 4,104 | | 2,757 | | 4,141 | | | 26,434 | | 27,324 | | 26,417 |
The allowance for expected credit losses of other receivables is related to accounts receivable from third parties. There is no allowance for expected credit losses of related parties’ accounts as they are expected to be fully recoverable. In the opinion of the Group’s management, the balance of the allowance for expected credit losses is sufficient to cover adequately the risks of non-payment as of the consolidated statement of financial position. | (h) | As December 31, 2025 and 2024, the Company holds accounts receivable with Howden Holdco Perú S.A., due to the sale of its Subsidiary Contacto Corredores de Seguros S.A., for US$8.6 million, which were recognized in the consolidated financial statements at a present value at US$8.1 million and US$7.5 million, respectively. This amount will be collected in November 2026. |
During 2025 and 2024, the financial update of accounts receivable generated the recognition of financial income of US$623,000 and US$599,000, respectively, see note 29(a). These accounts receivable were determined based on the contractual conditions agreed upon by the parties.
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