QB2 Advances from SMM/SC (Tables)

12 Months Ended

Dec. 31, 2023

Financial Instruments [Abstract]

Scheduled Principal Payments

($ in millions)	December 31, 2023						December 31, 2022
	Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)		Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)
3.75% notes due February 2023 (a)(i)	$	—	$	—	$	—	$	108	$	147	$	147
3.9% notes due July 2030 (a)(iii)	503		621		658		503		614		673
6.125% notes due October 2035 (a)(iii)(iv)	336		467		439		336		452		449
6.0% notes due August 2040 (a)(iv)	473		642		624		480		631		648
6.25% notes due July 2041 (a)(iii)(iv)	396		544		519		396		531		531
5.2% notes due March 2042 (a)(iii)	395		488		516		395		471		529
5.4% notes due February 2043 (a)(iii)	367		466		481		367		448		492
	2,470		3,228		3,237		2,585		3,294		3,469
QB2 project financing facility (b)	2,206		2,979		2,873		2,500		3,419		3,322
Carmen de Andacollo short-term    loans (c)	95		126		126		52		71		71
Antamina loan agreement (d)	225		298		298		225		305		305
	$	4,996	$	6,631	$	6,534	$	5,362	$	7,089	$	7,167
Less current portion of debt	(389)		(515)		(515)		(454)		(616)		(616)
	$	4,607	$	6,116	$	6,019	$	4,908	$	6,473	$	6,551

As at December 31, 2023, the original US$1.3 billion and the second US$750 million subordinated shareholder loan facilities were fully drawn, US$578 million was outstanding under the third subordinated shareholder loan facility and the fourth subordinated shareholder loan facility remains undrawn.

($ in millions)	December 31, 2023						December 31, 2022
	Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)		Face Value (US$)		Fair Value (CAD$)		Carrying Value (CAD$)
QB2 advances from SMM/SC	$	2,661	$	3,589	$	3,497	$	1,693	$	2,330	$	2,279

Summary of Debt Continuity

Debt Continuity

($ in millions)	US$				CAD$ Equivalent
	2023		2022		2023		2022
As at January 1	$	5,292	$	5,816	$	7,167	$	7,374
Cash flows
Proceeds from debt	170		445		230		569
Redemption, purchase or repayment of debt	(530)		(1,026)		(710)		(1,323)
Non-cash changes
Loss on debt redemption or purchase (Note 12)	—		45		—		58
Changes in foreign exchange rates	—		—		(164)		474
Finance fees, discount amortization and other	8		12		11		15
As at December 31	$	4,940	$	5,292	$	6,534	$	7,167

QB2 Advances from SMM/SC Carrying Value Continuity

($ in millions)	US$				CAD$ Equivalent
	2023		2022		2023		2022
As at January 1	$	1,683	$	997	$	2,279	$	1,263
Cash flows
Advances	960		685		1,292		899
Non-cash changes
Finance fee amortization	1		1		1		1
Changes in foreign exchange rates	—		—		(75)		116
As at December 31	$	2,644	$	1,683	$	3,497	$	2,279