Non-Controlling Interests

12 Months Ended

Dec. 31, 2020

Interests In Other Entities [Abstract]

Non-Controlling Interests

Non-Controlling Interests

Set out below is information about our subsidiaries with non-controlling interests and the non-controlling interest balances included in equity.

(CAD$ in millions)	Principal Place of Business	Percentage of Ownership Interest and Voting Rights Held by Non-Controlling Interest		December 31, 2020		December 31, 2019
Carmen de Andacollo	Region IV, Chile	10	%	$	26	$	29
Quebrada Blanca (a)(b)	Region I, Chile	40	%	526		634
Elkview Mine Limited Partnership	British Columbia, Canada	5	%	74		67
Compañía Minera Zafranal S.A.C.	Arequipa Region, Peru	20	%	43		40
				$	669	$	770

a)During the year ended December 31, 2019, SMM/SC subscribed for a 30% indirect interest in QBSA. As a result, we recorded a non-controlling interest for SMM/SC’s interest in QBSA of $793 million on the date of the transaction.

b)Quebrada Blanca

The following is the summarized financial information for Quebrada Blanca before intra-group eliminations. Quebrada Blanca has non-controlling interests that are considered material to our consolidated financial statements.

(CAD$ in millions)	December 31, 2020		December 31, 2019
Summarized balance sheet
Current assets	$	221	$	653
Current liabilities	698		512
Current net assets	(477)		141
Non-current assets	8,575		6,628
Non-current liabilities	4,841		3,448
Non-current net assets	3,734		3,180
Net assets	$	3,257	$	3,321
Accumulated non-controlling interests	$	526	$	634
Summarized statement of comprehensive income (loss)
Revenue	$	116	$	170
Loss for the period	$	(291)	$	(120)
Other comprehensive income (loss)	(47)		(138)
Total comprehensive income (loss)	$	(338)	$	(258)
Loss allocated to non-controlling interests	$	(95)	$	(24)
Summarized cash flows
Cash flows from operating activities	$	(442)	$	(298)
Cash flows from investing activities	(1,657)		(1,255)
Cash flows from financing activities	1,668		2,076
Effect of exchange rates on cash and cash equivalents	8		(22)
Net increase (decrease) in cash and cash equivalents	$	(423)	$	501