| Subsidiaries with material non-controlling interest |
17. | Subsidiaries with material non-controlling interest |
| (a) | Financial information of the main subsidiaries that have material non-controlling interest are provided below: |
| | | | | | | | | | | Country of | | | | | | | | | incorporation | | | | | | | | | and operation | | 2025 | | 2024 | | 2023 | | | | | % | | % | | % | | | | | | | | | | Equity interest held by non-controlling interests: | | | | | | | | | Sociedad Minera El Brocal S.A.A. | | Peru | | 38.57 | | 38.57 | | 38.57 | Apu Coropuna S.R.L. | | Peru | | 30.00 | | 30.00 | | 30.00 |
| | | | | | | | | 2025 | | 2024 | | 2023 | | | US$(000) | | US$(000) | | US$(000) | Accumulated balances of material non-controlling interest: | | | | | | | Sociedad Minera El Brocal S.A.A. | | 205,750 | | 169,178 | | 162,863 | Apu Coropuna S.R.L. | | (175) | | (166) | | (112) | | | 205,575 | | 169,012 | | 162,751 | Profit (loss) allocated to material non-controlling interest: | | | | | | | Sociedad Minera El Brocal S.A.A. | | 48,101 | | 13,628 | | 12,855 | Apu Coropuna S.R.L. | | (58) | | (54) | | (28) | | | 48,043 | | 13,574 | | 12,827 |
| (b) | The summarized financial information of these subsidiaries, before inter-company eliminations, is presented below: |
| | | | | | | | | | | Statements of financial position | | | As of December 31, 2025 | | As of December 31, 2024 | | | Sociedad | | Apu | | Sociedad | | Apu | | | Minera El | | Coropuna | | Minera El | | Coropuna | | | Brocal S.A.A. | | S.R.L. | | Brocal S.A.A. | | S.R.L. | | | US$(000) | | US$(000) | | US$(000) | | US$(000) | Current assets | | 334,077 | | 204 | | 213,843 | | 178 | Non-current assets | | 484,761 | | 1 | | 467,333 | | 10 | Current liabilities | | (154,503) | | (47) | | (117,158) | | — | Non-current liabilities | | (151,707) | | (740) | | (148,006) | | (740) | Equity | | 512,628 | | (582) | | 416,012 | | (552) | | | | | | | | | | Attributable to: | | | | | | | | | Shareholders of the Group | | 306,878 | | (407) | | 246,834 | | (386) | Non-controlling interests | | 205,750 | | (175) | | 169,178 | | (166) | | | 512,628 | | (582) | | 416,012 | | (552) |
Statements of profit or loss for the year ended December 31, 2025, 2024 and 2023: | | | | | | | Sociedad | | | | | Minera El | | Apu | | | Brocal | | Coropuna | | | S.A.A. | | S.R.L. | | | US$(000) | | US$(000) | Year 2025 - | | | | | Revenues | | 532,908 | | — | Profit (loss) for the year | | 124,712 | | (194) | Attributable to non-controlling interests | | 48,101 | | (58) | | | | | | Year 2024 - | | | | | Revenues | | 437,884 | | — | Profit (loss) for the year | | 35,333 | | (178) | Attributable to non-controlling interests | | 13,628 | | (54) | | | | | | Year 2023 - | | | | | Revenues | | 432,616 | | — | Profit (loss) for the year | | 31,454 | | (93) | Attributable to non-controlling interests | | 12,855 | | (28) |
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