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CONSOLIDATED STATEMENT OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Profit (Loss) for the year $ 57,757,000 $ 102,667,000 $ (17,837,000)
Adjustments for:      
Income tax expense 111,762,000 106,240,000 43,145,000
Depreciation 105,532,000 92,240,000 74,885,000
Loss on disposal of property, plant and equipment 143,000 272,000 190,000
Impairment loss reversed for non-financial assets 7,559,000 (4,982,000) 0
Write-off of unsuccessful exploration efforts 18,290,000 26,389,000 5,834,000
Accrual of borrowing's interests 29,573,000 30,444,000 28,879,000
Borrowings cancellation costs 0 0 17,575,000
Amortization of other long-term liabilities (429,000) (1,005,000) (657,000)
Unwinding of long-term liabilities 4,560,000 3,505,000 2,779,000
Accrual of share-based payment 2,717,000 5,446,000 4,075,000
Foreign exchange loss 2,446,000 11,323,000 2,193,000
Unrealized loss (gain) on commodity risk management contracts 26,411,000 (42,271,000) 13,300,000
Income tax paid (88,638,000) (67,704,000) (6,925,000)
Changes in working capital (42,254,000) (6,358,000) (25,278,000)
Cash flows from operating activities - net 235,429,000 256,206,000 142,158,000
Cash flows from investing activities      
Purchase of property, plant and equipment (126,316,000) (124,744,000) (105,604,000)
Acquisition of business 0 (48,850,000) 0
Proceeds from disposal of long-term assets 7,066,000 9,000,000 0
Cash flows used in investing activities - net (119,250,000) (164,594,000) (105,604,000)
Cash flows from financing activities      
Proceeds from borrowings 0 36,017,000 425,000,000
Debt issuance costs paid 0 0 (6,683,000)
Principal paid (9,790,000) (15,073,000) (355,022,000)
Interest paid (29,099,000) (27,695,000) (27,688,000)
Borrowings cancellation costs paid 0 0 (12,315,000)
Lease payments (4,855,000) 0 0
Repurchase of shares (71,272,000) (1,801,000) 0
Proceeds from cash calls from related parties 0 0 1,155,000
Dividends distribution to non-controlling interest 0 (8,089,000) (479,000)
Cash distribution (2,444,000) 0 0
Payments for transactions with non-controlling interest (15,000,000) (81,000,000) 0
Cash flows (used in) from financing activities - net (132,460,000) (97,641,000) 23,968,000
Net (decrease) increase in cash and cash equivalents (16,281,000) (6,029,000) 60,522,000
Cash and cash equivalents at January 1 127,727,000 134,755,000 73,563,000
Currency translation differences (266,000) (999,000) 670,000
Cash and cash equivalents at the end of the year 111,180,000 127,727,000 134,755,000
Ending Cash and cash equivalents are specified as follows:      
Cash in bank and bank deposits 111,159,000 127,707,000 134,734,000
Cash in hand 21,000 20,000 21,000
Cash and cash equivalents $ 111,180,000 $ 127,727,000 $ 134,755,000