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CONSOLIDATED STATEMENT OF CASH FLOW - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
(Loss) Profit for the year $ (232,950,000) $ 57,757,000 $ 102,667,000
Adjustments for:      
Income tax expense 47,863,000 111,762,000 106,240,000
Depreciation 118,073,000 105,532,000 92,240,000
Loss on disposal of property, plant and equipment 417,000 143,000 272,000
Impairment loss recognized (reversed) for non-financial assets 133,864,000 7,559,000 (4,982,000)
Write-off of unsuccessful exploration efforts 52,652,000 18,290,000 26,389,000
Accrual of borrowing's interests 48,690,000 29,573,000 30,444,000
Amortization of other long-term liabilities (387,000) (429,000) (1,005,000)
Unwinding of long-term liabilities 5,894,000 4,560,000 3,505,000
Accrual of share-based payment 8,444,000 2,717,000 5,446,000
Foreign exchange loss 3,594,000 5,289,000 11,323,000
Unrealized loss (gain) on commodity risk management contracts 12,978,000 26,411,000 (42,271,000)
Income tax paid (25,193,000) (88,638,000) (67,704,000)
Changes in working capital (5,240,000) (45,097,000) (6,358,000)
Cash flows from operating activities – net 168,699,000 235,429,000 256,206,000
Cash flows from investing activities      
Purchase of property, plant and equipment (75,298,000) (126,316,000) (124,744,000)
Acquisition of business, net of cash acquired (272,335,000) 0 (48,850,000)
Proceeds from disposal of long-term assets 0 7,066,000 9,000,000
Cash flows used in investing activities – net (347,633,000) (119,250,000) (164,594,000)
Cash flows from financing activities      
Proceeds from borrowings 350,000,000 0 36,017,000
Debt issuance costs paid (7,507,000) 0 0
Principal paid (3,575,000) (9,790,000) (15,073,000)
Interest paid (37,594,000) (29,099,000) (27,695,000)
Lease payments (9,380,000) (4,855,000) 0
Repurchase of shares (4,009,000) (71,272,000) (1,801,000)
Dividends distribution to non-controlling interest 0 0 (8,089,000)
Cash distribution (4,859,000) (2,444,000) 0
Payments for transactions with former non-controlling interest (11,931,000) (15,000,000) (81,000,000)
Cash flows (used in) from financing activities - net 271,145,000 (132,460,000) (97,641,000)
Net increase (decrease) in cash and cash equivalents 92,211,000 (16,281,000) (6,029,000)
Cash and cash equivalents at January 1 111,180,000 127,727,000 134,755,000
Currency translation differences (1,484,000) (266,000) (999,000)
Cash and cash equivalents at the end of the year 201,907,000 111,180,000 127,727,000
Ending Cash and cash equivalents are specified as follows:      
Cash in bank and bank deposits 201,884,000 111,159,000 127,707,000
Cash in hand 23,000 21,000 20,000
Cash and cash equivalents $ 201,907,000 $ 111,180,000 $ 127,727,000