Non-Controlling Interests (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024		December 31, 2023
Quebrada Blanca (a)	Region I, Chile	40	%	$	889	$	1,104
Carmen de Andacollo	Region IV, Chile	10	%	30		18
Elkview Mine Limited    Partnership (b)	British Columbia, Canada	5	%	—		126
Compañía Minera    Zafranal S.A.C. (c)	Arequipa Region, Peru	20	%	100		56
				$	1,019	$	1,304

a) Quebrada Blanca

The non-controlling interest in QBSA consists of SMM/SC, who subscribed for a 30% indirect interest in QBSA in 2019, and Codelco, a Chilean state-owned company that holds a 10% preference share interest. Codelco’s interest in QBSA does not require Codelco 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.

30. Non-Controlling Interests (continued)

(CAD$ in millions)	December 31, 2024		December 31, 2023
Summarized balance sheet
Current assets	$	1,492	$	1,025
Current liabilities	1,286		1,576
Current net assets (liabilities)	206		(551)
Non-current assets	23,244		20,931
Non-current liabilities	17,358		14,378
Non-current net assets	5,886		6,553
Net assets	$	6,092	$	6,002
Accumulated non-controlling interests	$	889	$	1,104
Summarized statement of comprehensive income (loss)
Revenue	$	2,376	$	595
Loss for the period	(1,200)		(465)
Other comprehensive income (loss)	219		(76)
Total comprehensive loss	$	(981)	$	(541)
Loss allocated to non-controlling interests	$	(462)	$	(188)
Summarized cash flows
Cash flows provided by (used in) operating activities	$	554	$	(506)
Cash flows used in investing activities	(1,407)		(3,203)
Cash flows provided by financing activities	841		3,751
Effect of exchange rates on cash and cash equivalents	9		(4)
Increase (decrease) in cash and cash equivalents	$	(3)	$	38