Provisions (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Provisions |
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| Schedule of detailed information about provisions |
| (a) | This caption is made up as follows: |
| | | | | | | | | | | | | | | | | | | | | | | | | As of | | | | | | Reclassifications | | | | As of | | | | | | Reclassifications | | | | As of | | | January 1, | | | | Accretion | | and | | | | December 31, | | | | Accretion | | and | | | | December 31, | | | 2024 | | Changes | | expense | | others | | Disbursements | | 2024 | | Changes | | expense | | others | | Disbursements | | 2025 | | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | US$(000) | | | | | | | | | | | | | | | | | | | | | | | | Closure of mining units and projects (b) | | 259,366 | | 73,090 | | 8,476 | | (6,642) | | (17,372) | | 316,918 | | 75,510 | | 11,021 | | 1,054 | | (17,371) | | 387,132 | Environmental liabilities | | 22,266 | | 4,062 | | — | | 5,133 | | (6,634) | | 24,827 | | 875 | | 440 | | (1,054) | | (3,824) | | 21,264 | Environmental contingencies | | 3,689 | | 2,987 | | — | | — | | (1,166) | | 5,510 | | 3,604 | | — | | 849 | | (32) | | 9,931 | Safety contingencies | | 4,963 | | (373) | | — | | — | | 76 | | 4,666 | | (145) | | — | | 547 | | (35) | | 5,033 | Labor contingencies | | 3,824 | | 643 | | — | | — | | (181) | | 4,286 | | 407 | | — | | 498 | | (486) | | 4,705 | Tax contingencies | | 2,991 | | (1,043) | | — | | — | | — | | 1,948 | | 923 | | — | | 42 | | — | | 2,913 | Obligations with communities | | 1,838 | | (1,048) | | — | | — | | — | | 790 | | (654) | | — | | 42 | | — | | 178 | Other provisions | | 1,763 | | (408) | | — | | — | | — | | 1,355 | | 64 | | — | | 28 | | — | | 1,447 | | | 300,700 | | 77,910 | | 8,476 | | (1,509) | | (25,277) | | 360,300 | | 80,584 | | 11,461 | | 2,006 | | (21,748) | | 432,603 | | | | | | | | | | | | | | | | | | | | | | | | Classification by maturity: | | | | | | | | | | | | | | | | | | | | | | | Current portion | | 107,491 | | | | | | | | | | 53,900 | | | | | | | | | | 62,075 | Non-current portion | | 193,209 | | | | | | | | | | 306,400 | | | | | | | | | | 370,528 | | | 300,700 | | | | | | | | | | 360,300 | | | | | | | | | | 432,603 |
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| Closure of mining units and exploration projects [Member] |
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| Provisions |
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| Schedule of detailed information about provisions |
| (b) | Provision for closure of mining units and exploration projects - |
The table below presents the movement of the provision for closure of mining units and exploration projects: | | | | | | | 2025 | | 2024 | | | US$(000) | | US$(000) | | | | | | Beginning balance | | 316,918 | | 259,366 | | | | | | Additions (reversals) in estimates and reclassifications: | | | | | Continuing mining units | | 67,231 | | 65,397 | Discontinued mining units | | 3,550 | | 555 | Exploration projects, note 27(a) | | 5,783 | | 496 | | | 76,564 | | 66,448 | Accretion expense: | | | | | Continuing mining units, note 28(a) | | 9,573 | | 7,563 | Exploration projects, note 28(a) | | 1,278 | | 518 | Discontinued mining units | | 170 | | 395 | | | 11,021 | | 8,476 | | | | | | Disbursements | | (17,371) | | (17,372) | | | | | | Ending balance | | 387,132 | | 316,918 | | | | | | Classification by maturity: | | | | | Current portion | | 32,279 | | 25,758 | Non-current portion | | 354,853 | | 291,160 | | | | | | | | 387,132 | | 316,918 |
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| Sociedad Minera Cerro Verde S.A.A. |
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| Provisions |
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| Schedule of detailed information about provisions |
| | | | | | | December 31, | | December 31, | | | 2025 | | 2024 | | | US$(000) | | US$(000) | | | | | | Current | | | | | Provision for legal contingencies (a) | | 2,345 | | 2,411 | Provision for remediation and mine closure (c) | | 99 | | — | Provision for social commitments (b) | | 92 | | 4,600 | Total current | | 2,536 | | 7,011 | | | | | | Non–current | | | | | Provision for remediation and mine closure (c) | | 237,252 | | 234,126 | Provision for social commitments (b) | | 10,188 | | 5,783 | Provision for legal contingencies (a) | | 1,836 | | 1,127 | Provision for uncertainty over income tax treatments (d) | | 1,231 | | 2,964 | Provision for tax contingencies | | — | | 3,427 | Total non-current | | 250,507 | | 247,427 | | | | | | Total provisions | | 253,043 | | 254,438 |
| (a) | The provision for legal contingencies is mainly associated with penalties incurred with OSINERGMIN and SUNAFIL (National Superintendence of Labor Inspection), which have been appealed by the Company. |
| (b) | The provision for social commitments is associated with repaving Alata-Congata Road (US$6.1 million as of December 31, 2025, and December 31, 2024) and an irrigation project in La Joya (US$4.2 million as of December 31, 2025, and US$4.3 million as of December 31, 2024). |
| (c) | The Company’s mineral exploration and exploitation activities are subject to environmental protection standards. In order to comply with these standards, the Company has obtained the approval for the Environment Adequacy Program (PAMA) and for the Environmental Impact Studies (EIA), required for the operation of Cerro Verde’s production unit and a mine closure plan approved by the Ministry of Energy and Mines. |
As of December 31, 2025, represents interest and penalties related to mining taxes and income taxes for the years 2017 through 2023 (As of December 31, 2024, correspond to the years 2018, 2020, 2021, 2022, and 2023), determined in accordance with IFRIC 23, “Uncertainty over Income Tax Treatments.
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| Schedule of detailed information about provision for closure of mining units and exploration projects |
| | | | | | | December 31, | | December 31, | | | 2025 | | 2024 | | | US$(000) | | US$(000) | | | | | | Beginning balance | | 234,126 | | 259,844 | Accretion expense | | 11,392 | | 11,160 | Changes in estimates (see Note 7) | | (8,167) | | (36,885) | Exchange rate effect | | — | | 7 | | | | | | Final balance | | 237,351 | | 234,126 |
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