Subsidiaries with material non-controlling interest (Tables)

12 Months Ended

Dec. 31, 2025

Subsidiaries with material non-controlling interest

Schedule of non-controlling interests


		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

Schedule of financial position of subsidiaries


		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)

Schedule of statement of profit or loss of subsidiaries

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)