QB2 Advances from SMM/SC (Tables)

12 Months Ended

Dec. 31, 2022

Financial Instruments [Abstract]

Scheduled Principal Payments

($ in millions)	December 31, 2022						December 31, 2021
	Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)		Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)
4.75% notes due January 2022 (a)	$	—	$	—	$	—	$	150	$	190	$	190
3.75% notes due February 2023 (a)	108		147		147		108		140		137
3.9% notes due July 2030 (a)	503		614		673		550		751		688
6.125% notes due October 2035 (a)	336		452		449		609		1,005		761
6.0% notes due August 2040 (a)	480		631		648		490		795		620
6.25% notes due July 2041 (a)	396		531		531		795		1,349		997
5.2% notes due March 2042 (a)	395		471		529		399		602		500
5.4% notes due February 2043 (a)	367		448		492		377		586		473
	2,585		3,294		3,469		3,478		5,418		4,366
QB2 project financing facility (b)	2,500		3,419		3,322		2,252		2,929		2,785
Carmen de Andacollo short-term    loans (c)	52		71		71		—		—		—
Antamina loan agreements (d)	225		305		305		176		223		223
	$	5,362	$	7,089	$	7,167	$	5,906	$	8,570	$	7,374
Less current portion of debt	(454)		(616)		(616)		(168)		(213)		(213)
	$	4,908	$	6,473	$	6,551	$	5,738	$	8,357	$	7,161

Amounts outstanding under the facility bear interest at LIBOR plus an applicable margin.

In 2022, QBSA entered into a second subordinated loan facility agreement with SMM/SC to advance QBSA up to an additional US$750 million, under similar terms to the existing subordinated loan facility.

($ in millions)	December 31, 2022						December 31, 2021
	Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)		Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)
QB2 advances from SMM/SC	$	1,693	$	2,330	$	2,279	$	1,003	$	1,288	$	1,263

Summary of Debt Continuity

Debt Continuity

($ in millions)	US$				CAD$ Equivalent
	2022		2021		2022		2021
As at January 1	$	5,816	$	4,913	$	7,374	$	6,255
Cash flows
Proceeds from debt	445		1,305		569		1,639
Redemption, purchase or repayment of debt	(1,026)		(124)		(1,323)		(155)
Revolving credit facilities	—		(262)		—		(335)
Non-cash changes
Loss on debt redemption or purchase	45		—		58		—
Changes in foreign exchange rates	—		—		474		(10)
Finance fees, discount amortization and other	12		(16)		15		(20)
As at December 31	$	5,292	$	5,816	$	7,167	$	7,374

QB2 Advances from SMM/SC Carrying Value Continuity

($ in millions)	US$				CAD$ Equivalent
	2022		2021		2022		2021
As at January 1	$	997	$	734	$	1,263	$	934
Cash flows
Advances	685		262		899		326
Non-cash changes
Finance fee amortization	1		1		1		1
Changes in foreign exchange rates	—		—		116		2
As at December 31	$	1,683	$	997	$	2,279	$	1,263