Non-Controlling Interests (Tables)

12 Months Ended

Dec. 31, 2023

Interests In Other Entities [Abstract]

Summary of Information About Subsidiaries with Non-controlling Interests and Non-controlling Interest Balances

(CAD$ in millions)	Principal Place of Business	Percentage of Ownership Interest and Voting Rights Held by Non-Controlling Interest		December 31, 2023		December 31, 2022
Quebrada Blanca (a)	Region I, Chile	40	%	$	1,104	$	874
Carmen de Andacollo	Region IV, Chile	10	%	18		26
Elkview Mine Limited Partnership	British Columbia, Canada	5	%	126		87
Compañía Minera Zafranal S.A.C.	Arequipa Region, Peru	20	%	56		51
				$	1,304	$	1,038

a) Quebrada Blanca

The non-controlling interest in QBSA, the entity that owns QB2, consists of SMM/SC, who subscribed for a 30% indirect interest in QBSA in 2019, and ENAMI, a Chilean state-owned agency that holds a 10% preference share interest. ENAMI’s interest in QBSA does not require ENAMI to make contributions toward QBSA’s capital spending.

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, 2023		December 31, 2022
Summarized balance sheet
Current assets	$	1,025	$	442
Current liabilities	1,576		1,946
Current net assets	(551)		(1,504)
Non-current assets	20,639		17,197
Non-current liabilities	14,378		10,647
Non-current net assets	6,261		6,550
Net assets	$	5,710	$	5,046
Accumulated non-controlling interests	$	1,104	$	874
Summarized statement of comprehensive income (loss)
Revenue	$	595	$	105
Loss for the period	(465)		(257)
Other comprehensive income (loss)	(76)		206
Total comprehensive loss	$	(541)	$	(51)
Loss allocated to non-controlling interests	$	(188)	$	(95)
Summarized cash flows
Cash flows used in operating activities	$	(2,749)	$	(1,579)
Cash flows used in investing activities	(3,203)		(3,304)
Cash flows provided by financing activities	5,994		4,918
Effect of exchange rates on cash and cash equivalents	(4)		7
Increase in cash and cash equivalents	$	38	$	42