20-F/A

As filed with the Securities and Exchange Commission on May 9, 2018

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 20-F/A

(Amendment No. 1)

ANNUAL REPORT PURSUANT TO SECTION 13 OR

15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

Commission File Number: 33-99720

CELULOSA ARAUCO Y CONSTITUCIÓN S.A.

(Exact name of Registrant as specified in its charter)

Arauco and Constitution Pulp Inc.

(Translation of Registrant’s name into English)

Republic of Chile

(Jurisdiction of incorporation or organization)

Avenida El Golf 150

14^th Floor

Las Condes, Santiago

Chile

(Address of principal executive offices)

Gianfranco Truffello

Tel.: 56-2-2461-7221

E-mail: gianfranco.truffello@arauco.cl

Avenida El Golf 150

14^th Floor

Las Condes, Santiago

Chile

(Name, telephone, e-mail and/or facsimile number and address of company contact person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

None

Securities registered or to be registered pursuant to Section 12(g) of the Act:

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

Title of each class:

7.250% Notes due 2019

5.000% Notes due 2021

4.750% Notes due 2022

4.500% Notes due 2024

3.875% Notes due 2027

5.500% Notes due 2047

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: Shares of Common Stock, without par value: 113,159,655

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes ☐  No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes ☒  No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer	☐	Accelerated Filer	☐
Non-Accelerated Filer	☒	Emerging Growth Company	☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.   ☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statement included in this filing:

U.S. GAAP  ☐ International Financial Reporting Standards as issued by the International Accounting Standards Board    ☒ Other  ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow: Item  17 ☐  Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐  No ☒

Explanatory Note

Celulosa Arauco y Constitución S.A. (“Arauco”) is filing this Amendment No. 1 (the “Form 20-F/A”) to its Annual Report on Form 20-F for the fiscal year ended December 31, 2017 (the “Form 20-F”), which was originally filed with the Securities and Exchange Commission on April 23, 2018, to submit the Interactive Data File (as defined in Rule 11 of Regulation S-T) with respect to the audited consolidated financial statements of Arauco and its subsidiaries for that fiscal year as Exhibit 101 to the Form 20-F in accordance with Rule 405 of Regulation S-T. Exhibit 101 was omitted from the Form 20-F in accordance with the 30-day grace period provided under Rule 405(a)(2)(ii) of Regulation S-T.

Except as set forth above, this Form 20-F/A does not modify or update any of the disclosures in the Form 20-F. This Form 20-F/A speaks as of the time of filing of the Form 20-F, does not reflect events that may have occurred subsequent to such filing, and does not modify or update in any way disclosures made in the Form 20-F.

2

Item 19. Exhibits

101.INS* XBRL Instance Document

101.SCH* XBRL Taxonomy Extension Schema Linkbase Document

101. CAL* XBRL Taxonomy Extension Calculation Linkbase Document

101. DEF* XBRL Taxonomy Extension Definition Linkbase Document

101.LAB* XBRL Taxonomy Extension Label Linkbase Document

101.PRE* XBRL Taxonomy Extension Presentation Linkbase Document

* In accordance with Rule 402 of Regulation S-T, the information in these exhibits shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

3

Signature

The registrant hereby certifies that it meets all of the requirements for filing this Amendment No. 1 to Form 20-F and that it has duly caused and authorized the undersigned to sign this Amendment No.1 to Form 20-F on its behalf.

CELULOSA ARAUCO Y CONSTITUCIÓN S.A.
By:	/s/ Matías Domeyko
	Matías Domeyko
	Chief Executive Officer

Date: May 9, 2018

4

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Document And Entity Information	12 Months Ended
	Dec. 31, 2017 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Registrant Name	ARAUCO & CONSTITUTION PULP INC
Entity Central Index Key	0001004156
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	113,159,655

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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 589,886	$ 592,253
Other current financial assets	3,504	5,201
Other current non-financial assets	129,837	144,915
Trade and other current receivables	814,412	701,610
Accounts receivable due from related companies	3,488	12,505
Current inventories	868,462	852,612
Current biological assets	307,796	306,117
Current tax assets	49,471	104,088
Total Current Assets other than assets or disposal groups classified as held for sale	2,766,856	2,719,301
Non-Current Assets or disposal groups classified as held for sale	3,507	3,059
Non-Current Assets or disposal groups classified as held for sale or as held for distribution to owners	3,507	3,059
Total Current Assets	2,770,363	2,722,360
Non-Current Assets
Other non-current financial assets	56,600	8,868
Other non-current non-financial assets	121,521	130,319
Trade and other non-current receivables	16,040	14,273
Accounts receivable due from related companies, non-current	1,056	957
Investments accounted for using equity method	368,772	446,548
Intangible assets other than goodwill	88,615	89,497
Goodwill	69,922	74,893
Property, plant and equipment	7,034,299	6,919,495
Non-current biological assets	3,459,146	3,592,874
Deferred tax assets	8,266	6,097
Total Non-Current Assets	11,224,237	11,283,821
Total Assets	13,994,600	14,006,181
Current Liabilities
Other current financial liabilities	500,344	697,452
Trade and other current payables	717,346	537,891
Accounts payable to related companies	11,208	3,831
Other current provisions	2,728	842
Current tax liabilities	8,088	1,641
Current provisions for employee benefits	5,730	5,244
Other current non-financial liabilities	153,950	99,163
Total Current Liabilities other than assets included in disposal groups classified as held for sale	1,399,394	1,346,064
Total Current Liabilities	1,399,394	1,346,064
Non-Current Liabilities
Other non-current financial liabilities	3,778,567	3,870,914
Other non-current provisions	36,008	38,138
Deferred tax liabilities	1,485,365	1,631,065
Non-current provisions for employee benefits	66,033	60,084
Other non-current non-financial liabilities	112,340	60,633
Total Non-Current Liabilities	5,478,313	5,660,834
Total Liabilities	6,877,707	7,006,898
Equity
Issued capital	353,618	353,618
Retained earnings	7,425,133	7,329,675
Other reserves	(703,778)	(728,042)
Equity attributable to parent company	7,074,973	6,955,251
Non-controlling interests	41,920	44,032
Total Equity	7,116,893	6,999,283
Total Equity and Liabilities	$ 13,994,600	$ 14,006,181

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CONSOLIDATED STATEMENTS OF PROFIT OR LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statements of profit or loss
Revenue	$ 5,238,341	$ 4,761,385	$ 5,146,740
Cost of sales	(3,574,532)	(3,498,905)	(3,511,425)
Gross profit	1,663,809	1,262,480	1,635,315
Other income	111,513	257,863	273,026
Distribution costs	(523,300)	(496,473)	(528,470)
Administrative expenses	(521,294)	(474,469)	(551,977)
Other expense	(240,165)	(77,415)	(83,388)
Profit from operating activities	490,563	471,986	744,506
Finance income	19,640	29,701	50,284
Finance costs	(287,958)	(258,467)	(262,962)
Share of profit of associates and joint ventures accounted for using equity method	17,017	23,939	6,748
Exchange rate differences	98	(3,935)	(41,171)
Profit before income tax	239,360	263,224	497,405
Income Tax	30,992	(45,647)	(129,694)
Net Profit	270,352	217,577	367,711
Net profit attributable to
Net profit attributable to parent company	269,724	213,801	362,689
Net profit attributable to non-controlling interests	628	3,776	5,022
Net Profit	$ 270,352	$ 217,577	$ 367,711
Basic and diluted earnings per share (in U.S.$ per share)
Basic and diluted earnings per share from continuing operations	$ 2.3836	$ 1.8894	$ 3.2051
Basic and diluted earnings per share	$ 2.3836	$ 1.8894	$ 3.2051

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net profit	$ 270,352	$ 217,577	$ 367,711
Components of other comprehensive income that will not be reclassified to profit or loss before tax:
Other comprehensive income before tax actuarial gain (losses) on defined benefit plans	2,499	(5,593)	(1,530)
Share of other comprehensive income of associates and joint ventures accounted for using equity method	8,754	132	(1,008)
Other Comprehensive Income that will not be reclassified to profit or loss before tax	11,253	(5,461)	(2,538)
Exchange differences on translation
Gains (losses) on exchange differences on translation, before tax	11,873	173,754	(385,109)
Other Comprehensive Income before tax exchange differences on translation	11,873	173,754	(385,109)
Cash flow hedges
Gains (losses) on cash flow hedges, before tax	22,212	84,045	11,859
Recycle of cash flow hedges to profit or loss before tax	(16,965)	(10,198)	(16,122)
Other Comprehensive Income before tax Cash flow hedges	5,247	73,847	(4,263)
Other Comprehensive income that will be reclassified to profit or loss before tax	17,120	247,601	(389,372)
Income tax relating to components of other comprehensive Income that will not be reclassified to profit or loss before tax
Income tax relating to actuarial losses on defined benefit plans	(673)	1,509	649
Income tax relating to share of other comprehensive income of associates and joint ventures accounted for using equity method	(2,086)	(106)	227
Income tax relating to components of other comprehensive Income that will be reclassified to profit or loss before tax
Income tax relating to cash flow hedges	(5,917)	(20,055)	(1,738)
Income tax relating to recycle of cash flow hedges	4,326	2,700	3,627
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss	(1,591)	(17,355)	1,889
Other comprehensive (loss) income	24,023	226,188	(389,145)
Comprehensive (loss) income	24,023	226,188	(389,145)
Comprehensive Income attributable to
Comprehensive (loss) income, attributable to owners of parent company	293,988	435,119	(15,619)
Comprehensive (loss) income, attributable to non-controlling interests	387	8,646	(5,815)
Total comprehensive (loss) income	$ 294,375	$ 443,765	$ (21,434)

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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Issued capital [member]	Reserve of exchange differences on translation [member]	Reserve of cash flow hedges [member]	Reserve of actuarial losses on defined benefit plans [member]	Other reserves [member]	Total Other reserves [member]	Retained Earnings [Member]	Equity attributable to owners of parent [member]	Non-controlling interests [member]
Opening balance at Dec. 31, 2014	$ 6,814,736	$ 353,618	$ (498,495)	$ (53,022)	$ (15,790)	$ (3,745)	$ (571,052)	$ 6,984,564	$ 6,767,130	$ 47,606
Comprehensive income
Net profit	367,711							362,689	362,689	5,022
Other comprehensive income, net of tax	(389,145)		(374,275)	(2,374)	(878)	(781)	(378,308)		(378,308)	(10,837)
Comprehensive income	(21,434)	0	(374,275)	(2,374)	(878)	(781)	(378,308)	362,689	(15,619)	(5,815)
Dividends	(146,029)							(142,801)	(142,801)	(3,228)
Increase (decrease) from transfers and other changes	(828)							0	0	(828)
Changes in equity	(168,291)	0	(374,275)	(2,374)	(878)	(781)	(378,308)	219,888	(158,420)	(9,871)
Closing balance at Dec. 31, 2015	6,646,445	353,618	(872,770)	(55,396)	(16,668)	(4,526)	(949,360)	7,204,452	6,608,710	37,735
Comprehensive income
Net profit	217,577							213,801	213,801	3,776
Other comprehensive income, net of tax	226,188		168,884	56,492	(4,084)	26	221,318		221,318	4,870
Comprehensive income	443,765	0	168,884	56,492	(4,084)	26	221,318	213,801	435,119	8,646
Dividends	(90,828)							(88,578)	(88,578)	(2,250)
Increase (decrease) from transfers and other changes	(99)							0	0	(99)
Changes in equity	352,838	0	168,884	56,492	(4,084)	26	221,318	125,223	346,541	6,297
Closing balance at Dec. 31, 2016	6,999,283	353,618	(703,886)	1,096	(20,752)	(4,500)	(728,042)	7,329,675	6,955,251	44,032
Comprehensive income
Net profit	270,352							269,724	269,724	628
Other comprehensive income, net of tax	24,023		12,114	3,656	1,826	6,668	24,264		24,264	(241)
Comprehensive income	294,375	0	12,114	3,656	1,826	6,668	24,264	269,724	293,988	387
Dividends	(176,749)							(174,266)	(174,266)	(2,483)
Increase (decrease) from transfers and other changes	(16)							0	0	(16)
Changes in equity	117,610	0	12,114	3,656	1,826	6,668	24,264	95,458	119,722	(2,112)
Closing balance at Dec. 31, 2017	$ 7,116,893	$ 353,618	$ (691,772)	$ 4,752	$ (18,926)	$ 2,168	$ (703,778)	$ 7,425,133	$ 7,074,973	$ 41,920

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Classes of cash receipts from operating activities
Receipts from sales of goods and rendering of services	$ 5,508,705	$ 5,020,551	$ 5,733,693
Other cash receipts from operating activities	365,238	470,765	337,696
Classes of cash payments
Payments to suppliers for goods and services	(3,850,367)	(3,914,976)	(4,260,587)
Payments to and on behalf of employees	(532,223)	(320,738)	(490,723)
Other cash payments from operating activities	(128,314)	(232,271)	(193,334)
Interest paid	(261,186)	(191,573)	(205,797)
Interest received	18,966	29,380	17,720
Income taxes paid	(37,942)	(83,903)	(87,784)
Other inflows (outflows) of cash, net	(10,452)	(3,651)	2,766
Net Cash flows from Operating Activities	1,072,425	773,584	853,650
Cash flows (used in) investing activities
Cash flow used in obtaining control of subsidiaries or other businesses	(15,918)	0	(10,090)
Cash used for contributions and purchase of associates and joint ventures	0	(153,135)	(814)
Other cash receipts from sales of equity or debt instruments in other entities	1	6,781	0
Loans to related parties	0	0	(23,628)
Proceeds from sale of property, plant and equipment	6,308	17,685	5,860
Purchase of property, plant and equipment	(448,314)	(356,153)	(321,385)
Proceeds from sales of intangible assets	0	0	99
Purchase of intangible assets	(10,468)	(14,858)	(10,395)
Proceeds from sales of other long-term assets	2,609	1,644	506
Purchase of other non-current assets	(179,184)	(140,707)	(126,132)
Dividends received	7,287	4,772	6,350
Other inflows (outflows) of cash, net	4,331	(6,241)	1,849
Cash flows used in Investing Activities	(633,348)	(640,212)	(477,780)
Cash flows from (used in) Financing Activities
Total borrowings obtained	1,312,481	737,653	280,863
Debt obtained in long-term	1,025,096	187,845	890
Debt obtained in short-term	287,385	549,808	279,973
Repayments of borrowings	(1,627,711)	(645,211)	(949,183)
Dividends paid	(121,586)	(130,624)	(143,003)
Other outflows of cash, net	(2,285)	(302)	(853)
Cash flows used in Financing Activities	(439,101)	(38,484)	(812,176)
Net increase (decrease) in Cash and Cash Equivalents before effect of exchange rate changes	(24)	94,888	(436,306)
Effect of exchange rate changes on cash and cash equivalents	(2,343)	(2,660)	(34,821)
Net increase (decrease) of Cash and Cash equivalents	(2,367)	92,228	(471,127)
Cash and cash equivalents, at the beginning of the period	592,253	500,025	971,152
Cash and cash equivalents, at the end of the period	$ 589,886	$ 592,253	$ 500,025

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PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2000

Disclosure of Presentation of Consolidated Financial Statements [Abstract]

Disclosure of basis of preparation of financial statements [text block]

NOTE 1. PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS

Entity Information

Celulosa Arauco y Constitución S.A. and subsidiaries, (hereafter “Arauco” or the “Company”), tax identification number 93,458,000-1, is a closely held corporation, that was registered in the Securities Registry (the “Registry”) of the Superintendency of Securities and Insurance (current Chilean Commission for the Financial Market (“CMF”)) as No. 042 on June 14, 1982. Additionally, the Company is registered as a non-accelerated filer in the Securities and Exchange Commission (SEC) of the United States of America.

Forestal Cholguán S.A., a subsidiary of Celulosa Arauco y Constitución S.A., is also registered in the Securities Registry as No. 030.

The Company’s head office address is El Golf Avenue 150, 14^th floor, Las Condes, Santiago, Chile.

Arauco is principally engaged in the production and sale of products related to the forestry and timber industries. Its main operations are focused on business areas of pulp, wood products and forestry.

Arauco is controlled by Empresas Copec S.A., which owns 99.9780% of Arauco, and is registered in the Securities Registry as No. 0028. Each of the above mentioned companies is subject to the oversight of the CMF.

The ultimate shareholders of Arauco are Mrs. María Noseda Zambra de Angelini (who passed away on April 15, 2018), Mr. Roberto Angelini Rossi and Mrs. Patricia Angelini Rossi, who have control fundamentally as follows:

(i)   Through Inversiones Angelini y Cía. Ltda., entity wich has 63.4015% of the shares of AntarChile S.A. and

(ii)   Mr. Roberto Angelini Rossi through the statutory control of Inversiones Golfo Blanco Ltda., direct owner of 5.77307% of the shares of AntarChile S.A.; and Mrs. Patricia Angelini Rossi, through the statutory control of Inversiones Senda Blanca Ltda., direct owner of 4.32981% of the shares of AntarChile S.A.

Arauco’s Consolidated Financial Statements were prepared on a going concern basis.

Presentation of Consolidated Financial Statements

The Financial Statements presented by Arauco are comprised by the following:

- Consolidated Statements of Financial Position as of December 31, 2017 and 2016.

- Consolidated Statements of Profit or Loss for the years ended December 31, 2017, 2016 and 2015.

- Consolidated Statements of Comprehensive Income for the years ended December 31, 2017, 2016 and 2015.

- Consolidated Statements of Changes in Equity for the years ended December 31, 2017, 2016 and 2015.

- Consolidated Statements of Cash Flows for the years ended December 31, 2017, 2016 and 2015.

- Explanatory disclosures (notes)

Period Covered by the Consolidated Financial Statements

As of December 31, 2017 and 2016 and for the periods between January 1 and December 31, 2017, 2016 and 2015.

Date of Approval of Consolidated Financial Statements

These consolidated financial statements were approved by the Board of Directors of the Company (the “Board”) at the Extraordinary Meeting on April 20, 2018.

Abbreviations used in this report:

IFRS - International Financial Reporting Standards

IASB - International Accounting Standards Board

IAS - International Accounting Standards

IFRIC - International Financial Reporting Standards Interpretations Committee

MU.S.$ - Millions of U.S. dollars

ThU.S.$ - Thousands of U.S. dollars

U.F. – Inflation index-linked units of account

UTA – Annual Tax Unit

ICMS – Tax movement of inventories and services (Brazil)

Functional and Presentation Currency

Arauco and most of its subsidiaries determined the United States (“U.S.”) Dollar as its functional currency since the majority of its revenues from sales of its products are derived from exports denominated in U.S. Dollars, while their costs of sales are to a large extent related or indexed to the U.S. Dollar.

For the pulp reportable segment, most of the sales are exports denominated in U.S. Dollars and costs are mainly related to plantation costs which are settled in U.S. Dollars.

For the wood products and forestry reportable segments, although total sales include a mix of domestic and exports sales, prices of the products are established in U.S. Dollars, which is also the case for the cost structure of the related raw materials.

In relation to the cost of sales, although labor and services costs are generally billed and paid in local currency, these costs are not as significant as the costs of raw materials, which are driven mainly by global markets and therefore, influenced mostly by the U.S. Dollar.

The presentation currency of the consolidated financial statements is the U.S. Dollar. Figures on these consolidated financial statements are presented in thousands of U.S. Dollar (ThU.S.$).

Summary of significant accounting policies

a) Basis for preparation of consolidated financial statements

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and they represent the explicit and unreserved adoption of IFRS.

The consolidated financial statements have been prepared on the historical cost basis, except for biological assets and certain derivative financial instruments which are measured at revalued amounts or fair value at the end of each period as explained in the following significant accounting policies.

b) Critical accounting estimates and judgments

The preparation of these financial statements, in accordance with IFRS, requires management to make estimates and assumptions that affect the carrying amounts reported. These estimates are based on historical experience and various other assumptions that are considered to be reasonable. Actual results may differ from these estimates. Management believes that the accounting policies below are the critical judgments that have the most significant effect on the amounts recognized in the consolidated financial statements.

- Biological Assets

The recovery of forest plantations is based on discounted cash flow models which means that the fair value of biological assets is calculated using cash flows from continuing operations on a discounted basis, based on our sustainable forest management plans and the estimated growth of forests.

These discounted cash flows require estimates in growth, harvest, sales prices and costs; therefore, it is important that management make appropriate estimates of future levels and trends for sales and costs, as well as conduct regular surveys of the forests to establish the volumes of wood available for harvesting and their current growth rates. The main considerations used to measure forest plantations are presented in Note 20, including a sensitivity analysis.

- Goodwill

Goodwill represents the excess of the acquisition cost over the fair value of the Group’s holding in the identifiable net assets of the acquired subsidiary at the date of acquisition. The aforementioned fair value is determined whether based on assessments and/or the discounted future flow method using hypotheses in their determination, such as sales prices and industry indexes, among others. See Note 17.

- Litigation and Contingencies

Arauco and its subsidiaries are subject to certain litigation proceedings. Future impact on Arauco’s financial condition derived from such litigations is estimated by management, in collaboration with its legal advisors. Arauco applies judgment when interpreting the reports of its legal advisors who provide updated estimates of the legal contingencies at each reporting period and/or at each time a modification is determined to be necessary. For a description of current litigations see Note 18.

c) Consolidation

The consolidated financial statements include all entities over which Arauco has the power to direct the relevant financial and operating activities. Subsidiaries are consolidated from the date on which control is obtained and up to the date that control ceases.

Specifically, a company controls an investee or subsidiary if, and only if, they have all of the following:

(a) power over the investee, i.e. the investor has existing rights which give it the ability to direct the relevant activities (the activities that significantly affect the investee's returns)

(b) exposure or rights to variable returns from involvement with the investee; and

(c) the ability to use power over the investee to affect the amount of the investor’s returns.

When Arauco holds less than the majority of voting rights in a company in which it participates, it nonetheless has the power over said company - when these voting rights are enough - to grant it in practice the ability to unilaterally direct said company's relevant activities. Arauco takes into account all facts and circumstances in order to assess if the voting rights in a company in which it participates are enough for granting it the power, including:

a) the size of the investor’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;

b) potential voting rights held by the investor, other vote holders or other parties;

c) rights arising from other contractual arrangements; and

d) any additional facts and circumstances that indicate the investor has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings.

The Company will reevaluate whether or not it holds control of a company in which participates if the facts and circumstances indicate that changes have occurred in one or more of the three elements of control mentioned above.

Consolidation of an investee shall begin from the date the investor obtains control of the investee and cease when the investor loses control of the investee. An entity includes the income and expenses of an acquired or sold subsidiary in the consolidated financial statements from the date it gains control until the date when the entity ceases to control the subsidiary.

The profit or loss of each component of other comprehensive income is attributed to owners of the parent company and the non-controlling interest, as appropriate. Total comprehensive income is attributed to the owners of the parent company and non-controlling interests even if the results of the non-controlling interest have a deficit balance.

If a subsidiary uses accounting policies other than those adopted in the consolidated financial statements for transactions and other events in similar circumstances, appropriate adjustments are made to the consolidated financial statements of subsidiaries in order to ensure compliance with Arauco's accounting policies.

All intercompany transactions and unrealized gains and losses from subsidiaries have been fully eliminated from consolidated financial statements and non-controlling interest is presented in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

The consolidated financial statements at the end of this period include the assets, liabilities, income and expenses of the subsidiaries shown in Note 13.

Certain consolidated subsidiaries have Brazilian Real and Chilean Pesos as their functional currencies. For consolidation purposes, the financial statements of those subsidiaries have been prepared in accordance with IFRS and translated into the presentation currency as indicated in Note 1 (e) (ii).

A parent company will present non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

d) Segments

Arauco has defined its reportable segments according to its business areas, based on the products and services sold to its customers. This definition is consistent with the management, resource allocation and performance assessment made by key personnel responsible for making relevant decisions related to the Company’s operation. The Chief Operating Decision Maker (CODM) is the Chief Executive Officer who is responsible for making these decisions and it is supported by the Corporate Managing Directors of each segment.

Based on the aforementioned process, the Company has established reportable segments according to the following business units:

⋅ Pulp

⋅ Wood products

⋅ Forestry

Refer to Note 24 for detailed financial information by reportable segment.

e) Functional currency

(i) Functional currency

All items in the financial statements of Arauco and each of its subsidiaries, associates and jointly controlled entities are measured using the currency of the primary economic environment in which each entity operates (the functional currency). The consolidated financial statements are presented in U.S. dollars, which is Arauco’s functional and presentation currency.

(ii) Translation to the presentation currency of Arauco

For the purposes of presenting consolidated financial statements, assets and liabilities of Arauco’s operations in a functional currency different from Arauco’s are translated into U.S. dollars using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange rate differences are recognized in other comprehensive income and accumulated in “Other reserves” within–equity.

(iii) Foreign Currency Transactions

Transactions in currencies other than the functional currency are recognized at the exchange rates prevailing at the dates of the transactions. Profit or loss on transactions in currencies other than the functional currency resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognized in the statements of profit or loss, except those which are recorded in other comprehensive income and accumulated in equity such as cash flows hedging derivatives.

f) Cash and cash equivalents

Cash and cash equivalents include cash-in-hand, deposits held on demand at banks and other short term highly liquid investments with an original maturity of three months or less and which are subject to an insignificant risk of changes in value.

g) Financial Instruments

Financial assets

Financial assets are classified into the following specified categories: 'loans and receivables' and “derivative financial instruments”. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All purchases and sales of financial assets are recognized and derecognized on the trade date, which require delivery of assets within the same time frame established by regulation or convention in the marketplace.

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables are classified as current assets, except for those with maturities more than 12 months after the reporting period, which are classified as non-current assets. Loans and receivables include trade and other receivables.

Loans and receivables are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition and are subsequently measured at amortized cost using the effective interest rate method, less any impairment.

Derivative financial instruments are explained in Note 1 h)

Financial liabilities

Financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortized cost using the effective interest method.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash payments (including all fees and amounts paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition.

Financial obligations are classified as current liabilities, unless Arauco holds an unconditional right to defer their settlement during at least 12 months after the balance sheet's date.

The estimate of the fair value of obligations with banks is determined using valuation techniques that include discounted cash flow analyses applying rates of similar loans. Bonds are appraised at market value.

h) Derivative financial instruments

(i) Derivative Financial Instruments - The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign exchange rate risks, including foreign exchange forward contracts, interest rate swaps, currency swaps and zero cost collar contracts.  The Company’s policy is to enter into derivatives contracts only for economic hedging purposes and there are no instruments with speculation objectives.

Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently re-measured at fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss unless the derivative is designated as a hedging instrument and complies with hedge accounting requirements of IAS 39, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

(ii) Embedded derivatives - The Company assesses the existence of embedded derivatives in financial instrument contracts. Derivatives embedded in non-derivative host contracts are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the contracts are not measured at FVTPL as a whole. Arauco has determined that no embedded derivatives currently exist.

(iii) Hedge accounting - The Company designates certain hedging instruments as either fair value hedges or cash flow hedges.

At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, Arauco documents whether the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk.

-Fair Value Hedges under IAS 39- Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item attributable to the hedged risk are recognized in profit or loss in the line item relating to the hedged item.

-Cash flow hedges under IAS 39 - The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of cash flow hedging reserve. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss, and is included in the Finance costs line item in the consolidated statement of profit or loss. Amounts previously recognized in other comprehensive income are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognized hedged item.

Hedge accounting is discontinued when the Group revokes the hedging relationship, when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income and accumulated in equity at that time remains in equity and is recognized when the forecasted transaction is ultimately recognized in profit or loss. When a forecasted transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.

i) Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the weighted average cost method.

The cost of finished and in process products includes the cost of raw materials, direct labor, other direct costs and manufacturing overhead expenses.

Initial costs of harvested wood are determined at fair value less cost of sale at the point of harvest.

Biological assets are transferred to inventories when forests are harvested.

Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

When market conditions result in the production costs of a product exceeding its net realizable value, the inventories are written-down to their net realizable value. This write-down also includes obsolescence amounts resulting from slow moving inventories and technical obsolescence.

Spare parts that will be consumed in a period of less than twelve months are presented in inventories and recognized as an expense when they are consumed.

j) Non-current assets held for sale

The Group classifies certain property, plant and equipment, intangible assets, investments in associates and disposal groups (groups of assets to be sold together with their directly associated liabilities) as non-current assets held for sale which as of the date of the statements of financial position are the subject of active sale efforts which are estimated to be highly probable. Non-current assets held for sale are presented separately from the other assets in the balance sheet.

These assets or disposal groups are measured at the lower of the carrying amount or the fair value less the costs to sell, and are no longer depreciated or amortized from the time they are classified as non-current assets held for sale.

k) Business Combinations

Arauco applies the acquisition method to account for a business combination. This method requires the identification of the acquirer, determination of the acquisition date, recognition and measurement of the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree; and recognition and measurement of goodwill or a gain from a bargain purchase. Identifiable assets acquired and liabilities assumed and any contingent liabilities in a business combination are initially measured at fair value at the acquisition date, except:

-deferred tax assets or liabilities, and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes and IAS 19 respectively;

-liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 3 at the acquisition date; and

-assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations are measured in accordance with such standard.

Acquisition-related costs are accounted for as expenses when they are incurred, except for costs to issue debt or equity securities which are recognized in accordance with IAS 32 and IAS 39.

A parent will present non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

Changes in the ownership interest of a parent in its subsidiary that do not result in a loss of control are treated as equity transactions. Any difference between the amount by which non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to owners of the parent company. No adjustment is made to the carrying amount of goodwill, neither gains nor losses are recognized in the statement of profit or loss.

Non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in the event of liquidation may initially be measured either at fair value or at the present ownership instruments' proportionate share of non-controlling interests, in the recognized amounts of the acquirer’s identifiable net assets. The choice is made on a transaction-by-transaction basis.

Arauco measures the fair value of the acquired company in the business combination achieved in stage (“step acquisition”), recognizing the effects of remeasurement of previously held equity in the acquiree in the statements of profit or loss.

If the initial accounting for a business combination is not completed by the end of the reporting period in which the combination occurs, Arauco reports preliminary amounts for the items for which the accounting is incomplete. During the measurement period (no more than one year), these preliminary amounts are retrospectively adjusted, or additional assets or liabilities are recognized to reflect new information about facts and circumstances that existed at the acquisition date, if known, would have affected the amounts recognized at that date.

Business combinations that are under common control transactions are accounted using as a reference the pooling of interest. Under this method, assets and liabilities related to the transaction carry over the previous carrying values. Any difference between assets and liabilities included in the consolidation and the consideration transferred, is accounted in equity.

l) Investments in associates and joint arrangements

Associates are entities over which Arauco exercises significant influence, but not control. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.

Joint arrangement is defined as an entity over which there is joint control, which exists only when the decisions about strategic of activities, both financial and operational, require the unanimous consent of the parties sharing control.

Investments in joint arrangements are classified as a joint venture or as a joint operation. A joint operation is a joint arrangement in which the parties that have joint control of the arrangement (i.e. joint operators) have rights to the assets and obligations for the liabilities, relating to the arrangement. A joint venture is a joint arrangement in which the parties that have joint control of the arrangement (i.e., participants in a joint venture) have rights to the net assets of the arrangement.

Investments in associates and joint ventures are accounted for using the equity method and are initially recognized at cost. Their carrying amount is increased or decreased to recognize the portion corresponding to the statement of profit or loss or to the statement of comprehensive income. Dividends received are recognized by deducting the amount received from the carrying amount of the investment. Arauco’s investment in associates includes goodwill (both net of any accumulated impairment loss).

The investments in joint operations are recognized through consolidation of assets, liabilities and results of operations in relation to Arauco's ownership percentage.

Investments in associates and joint ventures are presented in the consolidated statement of financial position in the line item “Investments accounted for using equity method”.

If Arauco’s share of losses of an associate or joint venture equals or exceeds its interest in the associate or joint venture, Arauco discontinues recognizing its share of further losses. After Arauco's carrying value in the investee is reduced to zero, additional losses are provided for, and a liability is recognized, only to the extent that Arauco has incurred legal or constructive obligations or made payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, Arauco resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized.

m) Intangible assets other than goodwill

After initial recognition, intangible assets with finite useful lives are carried at cost less any accumulated amortization and impairment losses.

Amortization of an intangible asset with a finite useful life is allocated over the asset’s useful life. Amortization begins when the asset is available for use, i.e., when it is in the location and condition necessary for it to be capable of operating in the manner intended by management.

(i) Computer Software

Computer software licenses are capitalized in terms of the costs incurred to acquire and make them compatible with existing software. These costs are amortized over the estimated useful lives of the software.

(ii) Water Rights, Easements and Other Rights

This item includes water rights, easements and other acquired rights recognized at historical cost which have indefinite useful lives as there is no foreseeable limit to the period over which these assets are expected to generate future cash flows. These rights are not amortized, but are tested for impairment at least annually, or when there is any indication that the assets might be impaired.

(iii) Customers and trade relations with customers

Correspond to the valuation over the time of the established relationship with customers, from the sale of products and services through its sales team. These relations will materialize in sales orders, which generate revenue and cost of sales. The useful life has been determined to be 15 years.

n) Goodwill

Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interest in the acquired company, and the fair value of the acquirer's previously held equity interest in the acquired company (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the statements of profit or loss.

Goodwill is not amortized but tested for impairment on annual basis.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For purposes of impairment testing, goodwill in a business combination is allocated as of the acquisition date to the cash generating unit or a group of cash generating units expected to benefit from the synergies of the combination irrespective of whether other assets or liabilities of the acquired company are allocated to those units or group of units.

The goodwill generated on acquisitions of foreign companies, is expressed in the functional currency of such foreign company.

Goodwill recognized for the acquisition of the subsidiary Arauco do Brasil S.A. whose functional currency is the Brazilian Real, is translated into U.S. Dollars at the closing exchange rate.

o) Property, Plant and Equipment

Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment. The cost includes expenditures that are directly attributable to the acquisition of the assets.

Subsequent costs, such as improvements and replacement of components, are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to Arauco and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized from property, plant and equipment. All other repairs and maintenance costs are expensed in the period in which they are incurred.

Arauco capitalizes borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets as part of the cost of those assets, until the assets are ready for their intended use (See Note 12).

Depreciation is calculated by components using the straight-line method.

The useful lives of the items of property, plant and equipment is estimated according to the expected use of the assets. The residual values and useful lives of assets are reviewed and adjusted, if appropriate, annually.

p) Leases

Arauco applies IFRIC 4 to assess whether an arrangement is, or contains, a lease. Leases of assets in which Arauco substantially holds all the risks and rewards of ownership are classified as finance leases. All other leases are classified as operating leases.

Finance leases are initially recognized at the lower of the fair value at the inception of the lease of the leased property and the present value of the minimum lease payments.

When assets are leased under a finance lease, the present value of lease payments are recognized as financial accounts receivable. Finance income, which is the difference between the gross receivable and the present value of such amount, is recognized as the interest rate of return.

Leases in which substantially all risks and rewards are not transferred to the lessee are classified as operating leases. Payments under operating leases (net of any incentives received from the lessor) are recognized as an expense on a straight-line basis over the lease term.

Arauco evaluates the economic nature of the contracts that grant the right to use certain assets, for the purposes of determining the existence of implied leases. In these cases, the Company separates - at the beginning of the contract, and based on relative reasonable values - payments and considerations associated with the lease, from the rest of the elements incorporated to the contract.

q) Biological Assets

IAS 41 requires that biological assets, such as standing trees, are measured at fair value less cost to sell in the statement of financial position. Forestry plantations are accounted for at fair value less costs to sell, based on the presumption that fair values of these assets can be measured reliably.

The measurement of forestry plantations is based on discounted cash flow models whereby the fair value of the biological assets is determined using estimated future cash flows from continuing operations calculated using our sustainable forest management plans and including the estimated growth of the forests. This valuation is performed on the basis of each identifiable farm block and for each type of tree.

The measurement of new forestry plantations made during the current year is made at cost, which corresponds to the fair value at that date. After twelve months, the valuation methodology used is that explained in the preceding paragraph.

Biological assets shown as current assets correspond to those forestry plantations that will be harvested in the short term.

Biological growth and changes in fair value of forestry plantations are recognized in the line item “Other income” in the consolidated statement of profit or loss.

r) Income taxes and deferred taxes.

The tax liabilities are recognized in the consolidated financial statements based on the determination of taxable income for the year and calculated using the tax rates in force in the countries where Arauco operates.

Deferred income tax is recognized using liability method, on the temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated annual accounts. Deferred income tax is determined using tax rates contained in laws adopted as of the date of the financial statements and that are expected to be applicable when the related deferred tax asset is realized or the deferred income tax liability is settled.

The goodwill arising on business combinations does not give rise to deferred tax.

The deferred tax assets and tax credits are generally recognized for all deductible temporary differences to the extent that it is probable that future taxable profit will be available against which those deductible temporary differences can be utilized.

s) Provisions

Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period.

t) Revenue recognition

Revenues are recognized when Arauco has transferred the risks and rewards of ownership to the buyer and Arauco has no right to dispose of the assets, nor effective control of such good.

(i) Revenue recognition from the Sale of Goods

Revenue from the sale of goods is recognized when Arauco has transferred to the buyer the significant risks and rewards of ownership of the goods, when the amount of revenue can be reliably measured, when Arauco does not retain any managerial involvement over the goods sold and when it is probable that the economic benefits associated with the transaction will flow to Arauco and the costs incurred in respect of the transaction can be measured reliably.

Sales are recognized in terms of the price agreed to in the sales contract, less any volume discounts and estimated product returns at the date of the sale. Volume discounts are evaluated in terms of estimated annual purchases. There is no significant financing component given that receivables from sales are collected within a short period, which is in line with market practices.

The structure for recognizing revenue from export sales is based on the 2010 Incoterms, which are the official rules for the interpretation of commercial terms issued by the International Chamber of Commerce.

The main Incoterms used by Arauco are the following:

“CFR (Cost and freight)”, where the company bears all costs including main transportation, until the products arrives at its port of destination. The risk is transferred to the purchaser once the products have been loaded onto the vessel, in the country of origin.

“CIF (Cost Insurance &; Freight)”, where the Company organizes and pays for external freight services and some other expenses. Arauco is no longer responsible for the products once they have been delivered to the ocean carrier company. The point of sale is the delivery of the products to the carrier chartered by the seller.

(ii) Revenue recognition from Rendering of Services

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue is recognized by reference to the stage of completion of the transaction at the date of the reporting period, and when it is probable that the economic benefits associated with the transaction will flow to the Arauco.

Arauco mainly provides power supply services which are transacted principally in the spot market of the Sistema Interconectado Central (“Central Interconnected System”). According to current regulations, the prices on that market called “Marginal Costs” are calculated by the Centro de Despacho Económico de Carga del Sistema Interconectado Central (CDEC–SIC) (“Economic Load Dispatch Center of the Central Interconnected System”) and are generally recognized in the period in which the services are rendered.

Electrical power is generated as a by-product of the pulp and wood process and is a complementary business to it, which is initially supplied to the group’s subsidiaries and any surplus is sold to the CDEC-SIC.

Arauco provides other non-core services such as port services and pest control whose revenues are derived from fixed price service contracts, generally recognized during the period of the service contract on a straight-line basis over the term of the contract.

Revenues from reportable segments mentioned in Note 24 are measured in accordance with the policies indicated in the preceding paragraphs.

Revenues from inter-segment sales (which are made at market prices) are eliminated in the consolidated financial statements.

u) Minimum dividend

Article No. 79 of the Chilean Corporations Law states that, unless otherwise unanimously agreed by the shareholders, corporations must distribute annually at least 30% of net income for the current year as cash dividend to shareholders determined in proportion to their shares or in the proportion established in the by-laws for preferred shares, if any, except where necessary to absorb accumulated losses from prior years.

The General Shareholders’ Meeting of Arauco agreed to distribute annual dividends at 40% of net distributable income, including an interim dividend to be distributed at year end. Dividends payable are recognized as a liability in the financial statements in the period when they are declared and approved by the Arauco’s shareholders or when arises the corresponding present obligation based on existing legislation or distribution policies established by the Shareholders' Meeting.

The dividends payable provision is registered for 40% of the liquid distributable profit and against a lower equity, based on the yearly resolution of the Shareholders’ Meeting.

Dividends payable are presented in the line item “Other current non-financial liabilities” in the consolidated statement of financial position.

v) Earning per share

Basic earnings per share are calculated by dividing the net profit for the period attributable to the parent company by the weighted average number of ordinary shares outstanding during the period, excluding the average number of shares in the Company held by a subsidiary, if such circumstance exists. Arauco has not performed any type of transaction with a potential dilutive effect that would cause diluted earnings per share to be different from basic earnings per share.

w) Impairment

Non-financial Assets

The recoverable amount of property, plant and equipment and other long-term assets with finite useful lives are measured whenever there are any circumstances indicating that the assets have to recognize an impairment loss. Among the circumstances to consider as evidence of impairment are significant declines in the assets’ market value, significant adverse changes in the technological environment, obsolescence or physical damages of assets and changes in the manner in which the asset is used or expected to be used). Arauco evaluates at the end of each reporting period whether there is any evidence of the indications above mentioned.

A previously recognized impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount however a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

For the purposes of assessing impairment losses, assets are grouped at the lowest level for which there is identifiable cash flows separately for each cash-generating unit. Non-financial assets, other than goodwill, which had recognized an impairment loss, are reviewed at the end of each reporting period whether there are any circumstances indicating that an impairment loss previously recognized may no longer exists or has decreased.

“Cash-generating units” are the smallest identifiable groups of those cash inflows that are largely independent of the cash inflow from other assets or groups of assets.

Goodwill

Goodwill and intangible assets with indefinite useful life are tested annually for impairment or whenever circumstances indicate it. The recoverable amount of an intangible asset is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognized whenever the carrying amount exceeds the recoverable amount.

A cash-generating unit, for which goodwill has been allocated, is tested for impairment annually or more frequently when there are circumstances indicating that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to other assets pro rata based on the carrying amount of each asset in the unit. Any impairment loss of goodwill is recognized directly in profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods.

Goodwill is allocated to cash-generating units for impairment testing purposes. The allocation is made between cash-generating units or groups of cash generating units expected to benefit from the synergies of the combination.

Financial Assets

At the end of each reporting period, an assessment is performed in order to identify whether there is any objective evidence that a financial asset or a group of financial assets may have been impaired. Financial assets are impaired only when there is objective evidence that, as a result of one or more loss events that occurred after the initial recognition of a financial asset, the estimated future cash flows of the financial asset have been affected. Impairment losses are recognized in the consolidated statement of profit or loss.

An allowance for doubtful accounts is established based on an analysis of the maturity of the portfolio and considering the insurance coverage on accounts receivable. Other conditions are assessed, for example, when there is objective evidence of default or delinquency in payments under the original sale terms and when the customer enters into bankruptcy or financial reorganization, and is written-off when Arauco has exhausted all levels of recovery of the receivable in a reasonable time.

The allowance for doubtful accounts is measured as the difference between the carrying amount of receivables and the present value of estimated future cash flows. The carrying amount of the receivable is reduced through the use of the allowance. If the impairment loss decreases in later periods, it is reversed either directly or by adjusting the provision for doubtful accounts, with effect in profit or loss.

x) Employee Benefits

Arauco constitutes labor obligations for severance payable in all circumstances for certain of its employees with at least 5 years of work in the Company, based on the terms of the staff’s collective and individual bargaining agreements.

The related provision is an estimate of the years of service to be recognized as a future labor obligation liability, in accordance with contracts between Arauco and its employees and pursuant to actuarial valuation criteria for this type of liability. This post-employment benefit is considered a defined benefit plan.

The main factors considered for calculating the actuarial value of severance obligation for years of service are employee turnover, salary increases and life expectancy of the workers included in this benefit.

Actuarial gains and losses are recognized in other comprehensive income in the year they are incurred.

These obligations are related to post-employee benefits in accordance with current standards.

y) Employee Vacations

Arauco recognizes the expense for employee vacation according to labor legislation in each country on an accrual basis.

This obligation is presented in the line item “Trade and Other current payables” and “Trade and Other non-current payables” depending on their respective maturities in the consolidated statements of financial position.

z) Recent accounting pronouncements

a) Standards, interpretations and amendments that are mandatory for the first time for annual periods beginning on January 1, 2017:

Amendments and improvements	Content	Mandatory application for annual periods beginning on or after
IAS 7	Statements of Cash Flows	January 1, 2017
	Introduces additional disclosure that enable users of financial statements to evaluate changes in liabilities arising from financial activities.
IAS 12	Income taxes	January 1, 2017
	Clarifies the accounting for deferred tax assets relating to debt instruments measured at fair value.
IFRS 12	Disclosure of Interests in Other Entities.	January 1, 2017
	Clarifies the scope of this rule.

The adoption of the standards, amendments and interpretations described above did not have a significant impact on the Arauco’s Consolidated Financial Statements.

b) Standards, interpretations and amendments, the application of which is not yet mandatory, which have not been adopted in advance:

Standards and interpretations	Content	Mandatory application for annual periods beginning on or after
IFRS 9	Financial Instruments	January 1, 2018
	Supersedes IAS 39. This final version includes requirements for the classification and measurement of financial assets and liabilities and introduces an 'expected credit loss' model for the measurement of the impairment. Hedge accounting part was included in IFRS 9 published at November 2013.
IFRS 15	Revenue from Contracts with Customers	January 1, 2018
	Provides a single, principles based five-step model to be applied to all contracts with customers. The principles include information related to nature, amount, opportunity and uncerntainty of the revenue and cash flows from contracts with customers.
IFRS 16	Leases	January 1, 2019
	The standard provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.
IFRIC 22	Transactions in Foreign Currency and Anticipated Considerations	January 1, 2018
	Applies to a transaction in foreign currency (or partially in foreign currency) when an entity recognizes a non-financial asset or a non-financial liability arising from the payment or collection of an anticipated consideration, before recognizing the related asset, expense, or income.
IFRIC 23	Uncertain tax positions	January 1, 2019
	It clarifies the method of applying the acknowledgment and measurement requirements of IAS 12 when there is uncertainty regarding the fiscal treatments.
IFRS 17	Insurance Contracts	January 1, 2021
	Supersedes IFRS 4. It changes mainly the accounting for insurance contracts and inverstments contracts.

Amendments and improvements	Content	Mandatory application for annual periods beginning on or after
IFRS 1	First-time Adoption of International Financial Reporting Standards	January 1, 2018
	Deletes the short-term exemptions for first time adopters regarding to IFRS 7, IAS 9 and IFRS 10.
IFRS 2	Share-based payment	January 1, 2018
	Clarifies the measurement of cash settled share-based payment transactions and the accounting for amendments that change such payments to equity instruments.
IFRS 15	Revenue from contracts with customers.	January 1, 2018
	Introduces clarifications to the guidelines and examples related to the transition towards the new rule.
IFRS 4	Insurance contracts	January 1, 2018
	Introduces two approaches: overlap and temporary exemption of IFRS 9.
IAS 40	Investment properties	January 1, 2018
	Clarifies the requirements needed to transfer to, or from, investment properties.
IFRS 10 y IAS 28-Amendments	Sale or Contribution of assets among an Investor and its Associates or Joint Ventures.	Indeterminate
IAS 28	Investments in associates and joint ventures	January 1, 2018
	Measurement of the investments in associates and joint ventures at fair value.
IAS 28	Investments in associates and joint ventures	January 1, 2019
	It clarifies that an entity applies IFRS 9 Financial Instruments to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied.
IFRS 9	Financial instruments	January 1, 2019
	Allows assets to be measured at amortised cost.
IFRS 3	Business Combinations	January 1, 2019
	Clarifies that when an entity obtains control of a business that is a joint operation, it is a business combination achieve by steps.
IFRS 11	Joint Arrangements	January 1, 2019
	Clarifies that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.
IAS 12	Income taxes	January 1, 2019
	Clarifies the income tax consequences of dividends from financial instruments at amortized cost should be recognized according to the past transactions or events that generated distributable profits.
IAS 23	Borrowing Costs	January 1, 2019
	Clarifies that if any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the general borrowings.

IFRS 9 - Financial Instruments.

IFRS 9 addresses the classification, measurement and derecognition of financial assets and financial liabilities. The standard includes new rules applicable to hedge accounting and a new impairment model for financial assets. The financial assets held by the Group mainly include: Mutual Fund Holdings, (hedge) Derivatives, and highly-liquid financial instruments.

Consequently, Arauco does not expect the new standard to have a significant impact in the classification and measurement of its financial assets.

IFRS 15 – Revenue from Contracts with Customers.

The new standard specifies how and when income will be recognized and increases the disclosures. The standard provides a single five-step model based on principles applicable to all contracts with clients. The standard will be in full force and effect as of January 1, 2018.

Arauco is a pulp and wood supplier in the global markets. Arauco’s contracts with clients can be clearly identified on the basis of purchase orders placed by such clients. Performance obligations are regularly explicitly defined as the products are delivered in accordance with the client’s contracts.

The main contracts with clients do not include additional separate performance obligations that would substantially change the timing of income recognition in accordance to IFRS 15, compared to current income recognition practices.

IFRS 15 requires separate presentation of contract assets and contract liabilities in the balance sheet. This will result in some reclassifications as of January 1, 2018 in relation to contract liabilities in relation to volume-based rebates, which are currently included in other balance sheet line items.

Arauco intends to adopt the standard using the modified retrospective approach which means that the cumulative impact of the adoption will be recognized in retained earnings as of January 1, 2018 and that comparatives will not be restated.

IFRS 16 - Leases

IFRS 16 was issued in January 2016. The new standard will result in recognizing practically all leases in the balance sheet, because the distinction between operational and financial leases was eliminated. Under the new standard an asset (the right to use the leased property) as well as a financial liability is recognized for lease payments. Short-term and low-value leases are an exception to this standard. This standard will be in full force and effect as of January 1, 2019.

The group’s main assets are held under financial leases by Arauco and its affiliates, and therefore we do not expect that the new standard will have a significant impact on the financial statements. However, the group has yet to evaluate which other adjustments, if any, would be necessary due to changes in the definition of the term of the lease and the various treatments of variable rent payments and extension and termination options. Therefore, it is not yet possible to estimate the value of the right to use the assets and liabilities under leases that will be recognized upon the implementation of the new standard, or how this could affect the group’s earnings or losses and the classification of future cash flows.

According to the performed evaluations, the adoption of the other standards, amendments and interpretations described above will not have a significant impact on Arauco’s Consolidated Financial Statements during its initial application period.

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ACCOUTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES

12 Months Ended

Dec. 31, 2017

Disclosure Of Accouting Policies Changes In Accounting Estimates Abstract [Abstract]

Disclosure of changes in accounting policies, accounting estimates and errors [text block]

NOTE 2. ACCOUTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES

There have been no changes in the treatment of estimates, amendments and accounting policies with respect to same period of last year.

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DISCLOSURE OF OTHER INFORMATION

12 Months Ended

Dec. 31, 2017

DISCLOSURE OF OTHER INFORMATION [Abstract]

Disclosure Of Other Information Explanatory [Text Block]

NOTE 3. DISCLOSURE OF OTHER INFORMATION

a) Disclosure of information on Issued Capital

At the date of these consolidated financial statements the share capital of Arauco is ThU.S.$353,618.

100% of Capital corresponds to ordinary shares

	12-31-2017		12-31-2016
Description of Ordinary Capital Share Types	100% of Capital corresponds to ordinary shares
Number of Authorized Shares by Type of Capital in Ordinary Shares	113,159,655
Nominal Value of Shares by Type of Capital in Ordinary Shares	ThU.S.$0.0031210 per share
Amount of Capital in Shares by Type of Ordinary Shares that Constitute Capital	ThU.S.$353,618
	12-31-2017		12-31-2016
Number of Shares Issued and Fully Paid by Type of Capital in Ordinary Shares		113,159,655

b) Dividends paid

The interim dividend paid in December 2017 was equivalent to 20% of the distributable net profit calculated as of the end of September 2017 and was considered a decrease in the statements of changes in equity.

The final dividend paid each year corresponds to the difference between the 40% of the prior year distributable net profit and the amount of the interim dividend paid.

The ThU.S.$174,266 (ThU.S.$ 88,578 as of December 31, 2016) presented in the statements of changes in equity correspond to the minimum dividend provision recorded for the period 2017.

In the Statements of Cash Flow in the line item “Dividends Paid” an amount of ThU.S.$121,586 is presented for the year ended December 31, 2017 (ThU.S.$130,624 for the year ended December 31, 2016), of which ThU.S.$119,499 (ThU.S.$ 128,793 for the year ended December 31, 2016) correspond to the payment of dividends of the parent company.

The following are the dividends paid and per share amounts during the periods 2017, 2016 and 2015:

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-20-2017
Amount of Dividend		ThU.S.$60,494
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.53459

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-10-2017
Amount of Dividend		ThU.S.$59,005
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.52143

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-14-2016
Amount of Dividend		ThU.S.$29,572
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.26133

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-11-2016
Amount of Dividend		ThU.S.$99,221
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.87683

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-16-2015
Amount of Dividend		ThU.S.$43,580
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.38512

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-12-2015
Amount of Dividend		ThU.S.$98,072
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.86667

c) Disclosure of Information on Reserves

Other reserves comprise reserves of exchange differences on translation, reserves of cash flow hedges and other reserves. Arauco does not have any restrictions associated with these reserves.

Reserves of exchange differences on translation

Reserves of exchange differences on translation correspond to exchange differences relating to the translation of the results and net assets of Arauco’s subsidiaries whose functional currency is other than Arauco’s presentation currency.

Reserves of cash flow hedges

Reserves of cash flow hedges correspond to the portion of net gain or loss of derivative financial instruments that complies with the requirements of hedge accounting at the end of each period.

Reserve of Actuarial Losses in Defined Benefit Plans

This corresponds to changes in the present value of the obligation for defined benefits resulting from experience adjustments (the effect of the differences between the previous actuarial assumptions and the events that occurred within the context of the plan) and the effects of the changes in the actuarial assumptions.

Other reserves

This mainly corresponds to the share of other comprehensive income of investments in associates and joint ventures.

Other items in the Statements of Profit or Loss

The table below sets forth other income, other expenses, finance income, finance costs and share of profit (loss) of associates and joint ventures for the years ended December 31, 2017, 2016 and 2015 are as follows:

	January - December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Classes of Other Income
Other Income, Total		111,513		257,863		273,026
Gain from changes in fair value of biological assets (See note 20)		83,031		208,562		210,479
Net income from insurance compensation		1,305		3,222		1,522
Revenue from export promotion		3,542		2,350		2,692
Lease income		3,061		4,687		2,654
Gain on sales of assets		13,444		17,485		11,849
Gain on business combination achieved in stages		-		-		8,744
Access easement		565		3,756		8,160
Recovery of tax credits		-		2,033		8,081
Other operating results (*)		6,565		15,768		18,845
Classes of Other Expenses by activity
Total of Other Expenses by activity		(240,165)		(77,415)		(83,388)
Depreciation		(1,880)		(562)		(1,407)
Legal expenses		(3,882)		(5,087)		(5,082)
Impairment provision for property, plant and equipment and others		(33,240)		(14,979)		(12,321)
Operating expenses related to plants stoppage		(5,861)		(3,926)		(3,917)
Expenses related to projects		(2,139)		(1,620)		(532)
Loss of asset sales		(4,691)		(2,283)		(2,475)
Loss and repair of assets		(3,739)		(1,307)		(316)
Loss of forest due to fires (**)		(138,139)		(15,193)		(34,850)
Other Taxes		(17,463)		(8,261)		(8,981)
Research and development expenses		(2,594)		(2,684)		(2,604)
Fines, readjustments and interests		(3,675)		(1,004)		(1,139)
Loss on disposal of associates		-		(10,369)		-
Others rentals no operational		(1,877)		-		-
Other expenses		(20,985)		(10,140)		(9,764)
Classes of financing income
Financing income, total		19,640		29,701		50,284
Financial income from mutual funds - term deposits		11,023		11,439		15,128
Financial income resulting from swap - forward instruments		3,602		7,226		4,439
Financial income resulting from loans with related companies		-		-		17,629
Other financial income		5,015		11,036		13,088
Classes of financing costs
Financing costs, Total		(287,958)		(258,467)		(262,962)
Interest expense, Banks loans		(31,014)		(33,224)		(40,690)
Interest expense, Bonds		(223,602)		(183,203)		(189,526)
Interest expense, other financial instruments		(15,706)		(17,221)		(7,260)
Other financial costs		(17,636)		(24,819)		(25,486)
Share of profit (loss) of associates and joint ventures accounted for using equity method
Total		17,017		23,939		6,748
Investments in associates		4,855		16,348		5,573
Joint ventures		12,162		7,591		1,175

(*) ”Other operating results” includes income from interests, extraction of sand and gravel from wharfage and indemnities, among others.

(**) Loss of forest due to fires are presented net of ThU.S.$35,000 from insurance compensation as of December 2017.

The analysis of expenses by nature contained in these consolidated financial statements is presented below:

	January - December
Cost of sales	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Timber		725,114		736,399		641,821
Forestry labor costs		631,276		600,320		636,100
Depreciation and amortization		389,847		377,983		371,851
Maintenance costs		262,764		313,500		305,701
Chemical costs		517,478		479,335		539,856
Sawmill Services		109,776		117,340		128,801
Other Raw Materials		188,874		221,950		226,342
Other Indirect costs		178,447		143,074		138,900
Energy and fuel		186,041		139,527		172,077
Cost of electricity		42,008		39,960		41,674
Wage and salaries		342,907		329,517		308,302
Total		3,574,532		3,498,905		3,511,425

	January - December
Distribution cost	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Selling costs		39,175		33,557		48,160
Commissions		14,880		13,880		15,801
Insurance		3,620		3,216		4,601
Provision for doubtful accounts		(245)		910		3,137
Other selling costs		20,920		15,551		24,621
Shipping and freight costs		484,125		462,916		480,310
Port services		30,996		28,028		26,216
Freights		384,523		357,442		387,081
Other shipping and freight costs		68,606		77,446		67,013
Total		523,300		496,473		528,470

	January - December
Administrative expenses	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Wages and salaries		218,720		198,042		227,407
Marketing, advertising, promotion and publications expenses		10,046		9,937		10,422
Insurances		17,122		21,526		28,216
Depreciation and amortization		28,210		29,285		24,587
Computer services		27,193		27,735		31,897
Lease rentals (offices, other property and vehicles)		14,195		13,391		13,527
Donations, contributions, scholarships		12,772		10,396		11,172
Fees (legal and technical advisors)		43,107		43,809		49,556
Property taxes, city permits and rights		17,281		15,962		19,196
Cleaning services, security services and transportation		25,153		26,975		25,638
Third-party variable services (maneuvers, logistics)		46,097		40,277		56,093
Basic services		8,423		8,653		9,395
Maintenance and repair		5,579		7,617		8,361
Seminars, courses, training materials		2,526		3,560		5,156
Other administration expenses		44,870		17,304		31,354
Total		521,294		474,469		551,977

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INVENTORIES

12 Months Ended

Dec. 31, 2017

Disclosure Of Inventories [Abstract]

Disclosure of inventories [text block]

NOTE 4. INVENTORIES

	12-31-2017	12-31-2016
Components of Inventory	ThU.S.$	ThU.S.$
Raw materials	103,049	61,252
Production supplies	98,548	102,760
Work in progress	56,194	59,332
Finished goods	441,726	468,544
Spare Parts	168,945	160,724
Total Inventories	868,462	852,612

Inventories recognized as cost of sales at December 31, 2017 were ThU.S.$3,511,871 (ThU.S.$3,423,439 and ThU.S.$3,416,235 at December 31, 2016 and 2015, respectively).       

In order to have the inventories recorded at net realizable value at December 31, 2017, a net decrease of inventories was recognized associated with a higher provision of obsolescence of ThU.S.$1,264 (ThU.S.$8,397 and ThU.S.$ 6,909 at December 31, 2016 and 2015, respectively). As of December 31, 2017, the amount of obsolescence provision is ThU.S.$28,684 (ThU.S.$27,420 at December 31, 2016).

At December 31, 2017, there were inventory write-offs of ThU.S.$1,427 (ThU.S.$1,332 and ThU.S.$ 4,215 at December 31, 2016 and 2015, respectively)

The inventory obsolescence provision is calculated based on the sales conditions of products and age of inventory (inventory turnover).

As of the date of these consolidated financial statements, there are no inventories pledged as security to report.

Agricultural Products

Agricultural Products are mainly forestry products that are intended for sale in the normal course of our operations and are measured at fair value less costs to sell at the point of harvest at the end of each reporting period Agricultural products are classified as raw materials within the line item inventories.

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CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Cash And Cash Equivalents [Abstract]

Disclosure of cash and cash equivalents [text block]

NOTE 5. CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash on hand, bank checking account balances, time deposits and mutual funds. These are short-term highly liquid investments that are readily convertible to known amounts of cash, and are subject to an insignificant risk of changes in value.

The investment objective of time deposits is to maximize the amounts of cash surpluses in the short-term. These instruments are permitted under Arauco’s Investment Policy which allows investing in fixed income securities. These instruments have a maturity of less than three months from the date of acquisition.

Arauco invests in local and international mutual funds in order to maximize the returns of cash surpluses denominated in Chilean Pesos or in foreign currencies such as U.S. Dollars or Euros. These instruments are permitted under Arauco’s Investment Policy.

As of the date of these consolidated financial statements, there are no amounts of cash and cash equivalents with restrictions on use.

	12-31-2017	12-31-2016
Components of Cash and Cash Equivalents	ThU.S.$	ThU.S.$
Cash on hand	148	3,156
Bank checking account balances	209,037	146,290
Time deposits	292,105	247,391
Mutual funds	73,170	195,416
Other cash and cash equivalents (*)	15,426	-
Total	589,886	592,253

(*) Applies to purchase contracts resale commitments.

The risk classification of the mutual funds in effect as of December 31, 2017 and December 31, 2016 is shown below.

	December 2017 ThU.S.$	December 2016 ThU.S.$
AAAfm	70,808	192,895
AAfm	2,362	2,521
Total Mutual Funds	73,170	195,416

Changes in Financial Liabilities

		Cash Flow
	Opening balance	Borrowings	Borrowings	Interest	Accrued	Inflation	Non-cash	Closing balance
	12-31-2016	obtained	paid	paid	interest	adjustment	movements	12-31-2017
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Borrowings from banks	914,358	421,309	(481,205)	(28,141)	27,894	(439)	4,681	858,457
Hedging liabilities	87,364	-	-	-	-	-	(81,971)	5,393
Bonds and promissory notes	3,452,658	891,172	(1,146,506)	(233,045)	218,326	122,324	(2,244)	3,302,685
Total	4,454,380	1,312,481	(1,627,711)	(261,186)	246,220	121,885	(79,534)	4,166,535

		Cash Flow
	Opening balance	Borrowings	Borrowings	Interest	Accrued	Inflation	Non-cash	Closing balance
	12-31-2015	obtained	paid	paid	interest	adjustment	movements	12-31-2016
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Borrowings from banks	997,542	550,226	(645,211)	(27,692)	27,471	9	12,013	914,358
Hedging liabilities	227,568	-	-	-	-	-	(140,204)	87,364
Bonds and promissory notes	3,180,334	187,427	-	(163,881)	165,017	79,923	3,838	3,452,658
Total	4,405,444	737,653	(645,211)	(191,573)	192,488	79,932	(124,353)	4,454,380

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INCOME TAXES AND DEFERRED TAXES

12 Months Ended

Dec. 31, 2017

Disclosure Of Income Tax [Abstract]

Disclosure of income tax [text block]

NOTE 6. INCOME TAXES and deferred taxes

The tax rates applicable in the countries in which Arauco operates are 25.5% in Chile, 35% in Argentina, 34% in Brazil, 25% in Uruguay and 35% in the United States (federal tax).

On September 29, 2014, the Official Gazette enacted Law No. 20,780, which introduced various amendments to the current income tax system, as well as to other taxes in Chile. The main amendment was the establishment of an option between two tax regimes: attributed income system and the partially integrated system. One of the effects of the regime selection is that it attaches a progressive increase in the First Category Tax for the fiscal years of 2014, 2015, 2016 and 2017 onwards, increasing to 21%, 22,5%, 24% y 25%, respectively, if the Company chooses the application of an attributed income system, or an increase to 21%, 22.5%, 24%, 25.5% y 27% for the fiscal years 2014, 2015, 2016, 2017, 2018 and thereafter, if the Company chooses the application of the partially integrated system.

Subsequently, on February 28, 2016, the Official Gazette enacted Law No. 20,899, which introduced amendments to Law No. 20,780. Among the main amendments is the incorporation of certain limitations for applying to the attributed income system, and therefore Arauco’s Chilean companies must apply the general rule, that is, the partially integrated system.

On December 22, 2017, a new law was enacted in the United States that amended several articles of the Income Tax Act. The most relevant amendments of this law include the reduction of the income tax rate, from 35% as to 21% by 2018 fiscal year. This amendment generated a benefit of ThU.S.$ 17,600 for Arauco’s subsidiaries in that country as of December 31, 2017, as a result of the reduction of the net deferred liabilities generated by the reduction of the federal income tax rate.

On December 29, 2017, Law No. 27,430 was enacted in the Official Gazette of Argentina, which amended several articles of the Income Tax Act. The most relevant amendments include the reduction of the federal income tax rate from 35% to 30% by 2018 and 2019 fiscal years, and 25% by 2020. This amendment generated a benefit of ThU.S$ 62,677 for Arauco’s subsidiaries in that country as of December 31, 2017, as a result of the reduction of the net deferred liabilities generated by the reduction of the federal income tax rate.

Deferred Tax Assets

The following table sets forth the deferred tax assets as of the dates indicated:

	12-31-2017	12-31-2016
Deferred Tax Assets	ThU.S.$	ThU.S.$
Deferred tax Assets relating to Provisions	7,433	5,771
Deferred tax Assets relating to Accrued Liabilities	11,267	11,716
Deferred tax Assets relating to Post-Employment benefits	19,276	17,618
Deferred tax Assets relating to Property, Plant and equipment	11,657	9,806
Deferred tax Assets relating to Financial Instruments	4,348	12,699
Deferred tax Assets relating to Tax Loss Carryforward	62,706	50,917
Deferred tax Assets relating to Inventories	5,941	7,158
Deferred tax Assets relating to Provisions for Income	21,354	7,069
Deferred tax Assets relating to Allowance for Doubtful Accounts	5,149	4,886
Intangible revaluation differences	10,389	10
Deferred tax Assets relating to Other Deductible Temporary Differences	27,364	22,985
Total Deferred Tax Assets	186,884	157,866
Offsetting presentation	(178,618)	(151,769)
Net Effect	8,266	6,097

Certain subsidiaries of Arauco mainly in Chile, Brazil and Uruguay, as of the date of these consolidated financial statements, present tax losses for which we estimate that, given the projection of future profits, will allow the recovery of these assets. The total amount of these tax losses is ThU.S.$216,397 (ThU.S.$178,064 at December 31, 2016), which are mainly originated by operational and financial losses.

In addition, as of the closing of these consolidated financial statements there are ThU.S.$167,862 (ThU.S.$176,280 at December 31, 2016) of non-recoverable tax losses from companies in Uruguay as joint operations based on the participation of Arauco and subsidiaries in USA, for which deferred tax assets have not been recognized. The estimated recovery period exceeds the expiry date of such tax losses.

Deferred Tax Liabilities

The following table sets forth the deferred tax liabilities as of the dates indicated:

	12-31-2017	12-31-2016
Deferred Tax Liabilities	ThU.S.$	ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment	860,498	934,892
Deferred tax Liabilities relating to Financial Instruments	12,684	7,186
Deferred tax Liabilities relating to Biological Assets	676,876	719,577
Deferred tax Liabilities relating to Inventory	32,580	31,072
Deferred tax Liabilities relating to Prepaid Expenses	41,600	42,881
Deferred tax Liabilities relating to Intangible	22,014	27,222
Deferred tax Liabilities relating to Other Taxable Temporary Differences	17,731	20,004
Total Deferred Tax Liabilities	1,663,983	1,782,834
Offsetting presentation	(178,618)	(151,769)
Net Effect	1,485,365	1,631,065

The effect of changes in current and deferred tax liabilities related to financial hedging instruments corresponds to a credit of ThU.S.$1,591 for the year ended December 31, 2017 (compared to a credit of ThU.S.$17,355 for the year ended December 31, 2016), which is presented net in Reserves for Cash Flow Hedges in the Consolidated Statement of changes in Equity.

Reconciliation of deferred tax assets and liabilities

	Opening Balance 01-01-2017		Deferred tax Expenses (Income)		Deferred tax of items charged to other comprehensive income		Increase (decrease) through Business Combination		Increase (decrease) Net exchange differences		Closing balance 12-31-2017
Deferred Tax Assets	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Deferred tax Assets relating to Provisions		5,771		931		-		726		5		7,433
Deferred tax Assets relating to Accrued Liabilities		11,716		(405)		-		-		(44)		11,267
Deferred tax Assets relating to Post-Employment benefits		17,618		2,286		(673)		-		45		19,276
Deferred tax Assets relating to Property, Plant and equipment		9,806		1,850		-		-		1		11,657
Deferred tax Assets relating to Financial Instruments		12,699		1,414		(9,764)		-		(1)		4,348
Deferred tax Assets relating to Tax Loss Carryforward		50,917		7,271		-		6,093		(1,575)		62,706
Deferred tax Assets relating to Inventories		7,158		(1,435)		-		221		(3)		5,941
Deferred tax Assets relating to Provisions for Income		7,069		(3,697)		-		-		-		3,372
Deferred tax Assets relating to Allowance for Doubtful Accounts		4,886		(854)		-		1,133		(16)		5,149
Intangible revaluation differences		10		(954)		-		11,333		-		10,389
Deferred tax Assets relating to Other Deductible Temporary Differences		30,216		6,943		-		9,134		(948)		45,345
Total Deferred Tax Assets		157,866		13,350		(10,437)		28,640		(2,536)		186,883

	Opening Balance 01-01-2017		Deferred tax Expenses (Income)		Deferred tax of items charged to other comprehensive income		Increase (decrease) Through Business Combination		Increase (decrease) Net exchange differences		Closing balance 12-31-2017
Deferred Tax Liabilities	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment		934,892		(82,445)		-		9,735		(1,684)		860,498
Deferred tax Liabilities relating to Financial Instruments		7,186		5,497		-		-		1		12,684
Deferred tax Liabilities relating to Biological Assets		719,577		(79,947)		-		37,246		(751)		676,876
Deferred tax Liabilities relating to Inventory		31,072		1,508		-		-		-		32,580
Deferred tax Liabilities relating to Prepaid Expenses		42,881		(1,281)		-		-		-		41,600
Deferred tax Liabilities relating to Intangible		27,222		(4,880)		-		-		(328)		22,014
Deferred tax Liabilities relating to Other Taxable Temporary Differences		20,004		(6,730)		-		4,467		(10)		17,731
Total Deferred Tax Liabilities		1,782,834		(168,278)		-		52,199		(2,772)		1,663,983

	Opening  Balance 01-01-2016	Deferred tax Expenses (Income)	Deferred tax of items charged to other comprehensive income	Increase (decrease) Net exchange differences	Closing balance 12-31-2016
Deferred Tax Assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred tax Assets relating to Provisions	13,498	(8,019)	-	292	5,771
Deferred tax Assets relating to Accrued Liabilities	8,535	3,181	-	-	11,716
Deferred tax Assets relating to Post-Employment benefits	15,480	579	1,509	50	17,618
Deferred tax Assets relating to Property, Plant and equipment	7,730	2,076	-	-	9,806
Deferred tax Assets relating to Financial Instruments	21,805	1,500	(10,606)	-	12,699
Deferred tax Assets relating to Tax Loss Carryforward	35,751	11,498	-	3,668	50,917
Deferred tax Assets relating to Inventories	4,240	2,918	-	-	7,158
Deferred tax Assets relating to Provisions for Income	3,997	3,050	-	22	7,069
Deferred tax Assets relating to Allowance for Doubtful Accounts	4,572	261	-	53	4,886
Intangible revaluation differences	56	(46)	-	-	10
Deferred tax Assets relating to Other Deductible Temporary Differences	24,587	3,593	-	2,036	30,216
Total Deferred Tax Assets	140,251	20,591	(9,097)	6,121	157,866

	Opening Balance 01-01-2016	Deferred tax Expenses (Income)	Deferred tax of items charged to other comprehensive income	Increase (decrease) Net exchange differences	Closing balance 12-31-2016
Deferred Tax Liabilities	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment	930,608	(1,065)	-	5,349	934,892
Deferred tax Liabilities relating to Financial Instruments	6,376	810	-	-	7,186
Deferred tax Liabilities relating to Biological Assets	693,103	12,642	-	13,832	719,577
Deferred tax Liabilities relating to Inventory	31,912	(840)	-	-	31,072
Deferred tax Liabilities relating to Prepaid Expenses	40,907	2,078	-	(104)	42,881
Deferred tax Liabilities relating to Intangible	26,419	(528)	-	1,331	27,222
Deferred tax Liabilities relating to Other Taxable Temporary Differences	26,203	(9,229)	-	3,030	20,004
Total Deferred Tax Liabilities	1,755,528	3,868	-	23,438	1,782,834

Temporary Differences

The following tables summarize the deductible and taxable temporary differences:

	12-31-2017		12-31-2016
	Deductible	Taxable	Deductible	Taxable
Detail of classes of Deferred Tax	Difference	Difference	Difference	Difference
Temporary Differences	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred Tax Assets	124,178		106,949
Deferred Tax Assets - Tax loss carryforward	62,706		50,917
Deferred Tax Liabilities		1,663,983		1,782,834
Total	186,884	1,663,983	157,866	1,782,834

	January - December
Detail of Temporary Difference Income	2017	2016	2015
and Loss Amounts	ThU.S.$	ThU.S.$	ThU.S.$
Deferred Tax Assets	6,079	9,093	(15,306)
Deferred Tax Assets - Tax loss carryforward	7,270	11,498	(959)
Deferred Tax Liabilities	168,279	(3,868)	(26,259)
Total	181,628	16,723	(42,524)

Income Tax Expense

Income tax expense consists of the following:

	January - December
	2017	2016	2015
Income Tax composition	ThU.S.$	ThU.S.$	ThU.S.$
Current income tax expense	(155,292)	(58,831)	(87,908)
Tax benefit arising from unrecognized tax assets previously used to reduce current tax expense	3,018	-	-
Prior period current income tax adjustments	(227)	(6,899)	4,033
Other current benefit tax (expenses)	1,865	3,360	(3,295)
Current Tax Expense, Net	(150,636)	(62,370)	(87,170)
Deferred tax expense relating to origination and reversal of temporary differences	174,358	5,225	(41,565)
Tax benefit arising from previously unrecognized tax loss carryforward	7,270	11,498	(959)
Total deferred Tax benefit (expense), Net	181,628	16,723	(42,524)
Income Tax benefit (expense), Total	30,992	(45,647)	(129,694)

The following table presents the current income tax expense detailed by foreign and domestic (Chile) companies at December 31, 2017, 2016 and 2015:

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Foreign current income tax expense	(28,071)	(27,931)	(33,129)
Domestic current income tax expense	(122,565)	(34,439)	(54,041)
Total current income tax expense	(150,636)	(62,370)	(87,170)
Foreign deferred tax benefit (expense)	94,228	7,794	(17,240)
Domestic deferred tax benefit (expense)	87,400	8,929	(25,284)
Total deferred tax benefit (expense)	181,628	16,723	(42,524)
Total tax benefit (expense)	30,992	(45,647)	(129,694)

Reconciliation of income tax expense from statutory tax rate to the effective tax rate.

The reconciliation of income tax expense is as follows:

	January - December
Reconciliation of Income tax from Statutory Rate to Effective Tax	2017		2016		2015
Rate	ThU.S.$		ThU.S.$		ThU.S.$
Statutory domestic (Chile) income tax rate	25.5	%	24.0	%	22.5	%
Tax Expense at statutory tax rate	(61,037)		(63,174)		(111,916)
Tax effect of foreign tax rates	(7,118)		(13,368)		(16,099)
Tax effect of revenues exempt from taxation	40,133		33,834		41,268
Tax effect of not deductible expenses	(28,783)		(10,987)		(40,866)
Tax rate effect of tax loss carry forwards	(44)		-		14
Tax effect of Previously Unrecognized Tax Benefit in the Statements of Profit or Loss	195		-		(857)
Tax effect of a new evaluation of assets for deferred not recognized taxes	5,311		17,157		307
Tax rate effect from change in tax rate (opening balances)	78,946		(3,681)		(3,445)
Tax rate effect of adjustments for current tax of prior periods	(227)		(6,899)		4,033
Other tax rate effects	3,616		1,471		(2,128)
Total adjustments to tax expense at applicable tax rate	92,029		17,527		(17,778)
Tax benefit (expense) at effective tax rate	30,992		(45,647)		(129,694)

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PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

Disclosure Of Property Plant And Equipments [Abstract]

Disclosure of property, plant and equipment [text block]

NOTE 7. PROPERTY, PLANT AND EQUIPMENT

	12-31-2017	12-31-2016
Property, Plant and Equipment, Net	ThU.S.$	ThU.S.$
Construction work in progress	597,351	321,031
Land	1,008,310	991,450
Buildings	2,135,201	2,169,731
Plant and equipment	3,112,755	3,256,348
Information technology equipment	22,665	24,154
Fixtures and fittings	12,297	9,880
Motor vehicles	15,959	16,858
Other property, plant and equipment	129,761	130,043
Total Net	7,034,299	6,919,495
Property, Plant and Equipment, Gross
Construction work in progress	597,351	321,031
Land	1,008,310	991,450
Buildings	3,926,157	3,825,259
Plant and equipment	6,410,561	6,128,494
Information technology equipment	82,765	76,421
Fixtures and fittings	40,388	33,613
Motor vehicles	49,756	48,534
Other property, plant and equipment	159,720	153,838
Total Gross	12,275,008	11,578,640
Accumulated depreciation and impairment
Buildings	(1,790,956)	(1,655,528)
Plant and equipment	(3,297,806)	(2,872,146)
Information technology equipment	(60,100)	(52,267)
Fixtures and fittings	(28,091)	(23,733)
Motor vehicles	(33,797)	(31,676)
Other property, plant and equipment	(29,959)	(23,795)
Total	(5,240,709)	(4,659,145)

Description of Property, Plant and Equipment Pledged as Security for Liabilities

As of December 31, 2017, there are no significant assets pledged as collateral to be disclosed in these consolidated financial statements.

Disbursements commitments for the acquisition of property, plant and equipment and disbursements for property, plant and equipment under construction.

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Amount committed for the acquisition of property, plant and equipment	112,924	122,757

Reconciliation of Property, Plant and Equipment

The following tables set forth the reconciliation of the carrying amount of property, plant and equipment as of December 31, 2017 and December 31, 2016:

	Construction work in progress	Land	Buildings	Plant and equipment	IT Equipment	Fixtures and fittings	Motor vehicles	Other Property, Plant and Equipment	TOTAL
Movement of Property, Plant and Equipment	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance 01-01-2017	321,031	991,450	2,169,731	3,256,348	24,154	9,880	16,858	130,043	6,919,495
Changes
Additions	440,394	277	12,932	65,938	787	556	2,161	10,788	533,833
Acquisitions through business combinations	3,460	4,009	17,214	46,415	164	986	241	2,022	74,511
Disposals	-	(1,878)	(48)	(5,492)	(26)	(26)	(292)	(262)	(8,024)
Retirements	(1,585)	(75)	(3,809)	(3,900)	(4)	(29)	(127)	(7,211)	(16,740)
Depreciation	-	-	(125,692)	(311,819)	(6,080)	(2,268)	(3,546)	(5,421)	(454,826)
Impairment loss recognized in profit or loss	(208)	-	(769)	(8,271)	(5)	(310)	-	(338)	(9,901)
Increase (decrease) through net exchange differences	290	(2,728)	961	(2,394)	51	(31)	67	69	(3,715)
Reclassification of assets held for sale	(418)	-	-	84	-	-	-	-	(334)
Increase (decrease) through transfers from construction in progress	(165,613)	17,255	64,681	75,846	3,624	3,539	597	71	-
Total changes	276,320	16,860	(34,530)	(143,593)	(1,489)	2,417	(899)	(282)	114,804
Closing balance 12-31-2017	597,351	1,008,310	2,135,201	3,112,755	22,665	12,297	15,959	129,761	7,034,299

	Construction work in progress	Land	Buildings	Plant and equipment	IT Equipment	Fixtures and fittings	Motor vehicles	Other Property, Plant and Equipment	TOTAL
Movement of Property, Plant and Equipment	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance 01-01-2016	251,519	951,638	2,182,643	3,346,675	26,210	11,860	16,721	109,130	6,896,396
Changes
Additions	317,159	6,350	7,966	59,997	554	269	1,281	25,618	419,194
Disposals	(44)	(1,107)	(443)	(2,382)	(105)	-	(199)	(1,607)	(5,887)
Retirements	(1,754)	(295)	(926)	(2,209)	(24)	(8)	(30)	(2,811)	(8,057)
Depreciation	-	-	(122,257)	(330,876)	(5,352)	(1,970)	(3,969)	(4,729)	(469,153)
Impairment loss recognized in profit or loss	-	-	9	(1,254)	(7)	(1)	-	(1,553)	(2,806)
Increase (decrease) through net exchange differences	6,610	30,514	(2,388)	51,224	134	116	112	3,145	89,467
Reclassification of assets held for sale	-	-	-	341	-	-	-	-	341
Increase (decrease) through transfers from construction in progress	(252,459)	4,350	105,127	134,832	2,744	(386)	2,942	2,850	-
Total changes	69,512	39,812	(12,912)	(90,327)	(2,056)	(1,980)	137	20,913	23,099
Closing balance 12-31-2016	321,031	991,450	2,169,731	3,256,348	24,154	9,880	16,858	130,043	6,919,495

The depreciation expense for the period ending December 31, 2017, 2016 and 2015 is as follows:

	January-December
	2017	2016	2015
Depreciation for the year	ThU.S.$	ThU.S.$	ThU.S.$
Cost of sales	381,725	371,170	365,401
Administrative expenses	23,005	21,546	19,084
Other expenses	3,494	2,119	3,707
Total	408,224	394,835	388,192

The useful lives of property, plant and equipment are estimated based on the expected use of the assets. The average useful lives by asset class are as follow:

	Years of Useful Life (Average)
Buildings	58
Plant and equipment	30
Information technology equipment	8
Fixtures and fittings	28
Motor vehicles	7
Other property, plant and equipment	14

See Note 12 for details of capitalized borrowing costs.

XML

LEASES

12 Months Ended

Dec. 31, 2017

Disclosure Of Leases [Abstract]

Disclosure of leases [text block]

NOTE 8. LEASES

Arauco acting as lessee

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Property, Plant and Equipment under finance leases	116,534	117,206
Plant and equipment	116,534	117,206

Reconciliation of Financial Lease Minimum Payments:

	12-31-2017
	Present Value
Periods	ThU.S.$
Less than one year	44,341
Between one and five years	68,035
More than five years	-
Total	112,376

	12-31-2016
	Present Value
Periods	ThU.S.$
Less than one year	40,400
Between one and five years	73,586
More than five years	-
Total	113,986

Lease obligations are presented in the consolidated statements of financial position in line items “Other current financial liabilities” and “Other non-current financial liabilities” depending on their respective maturities as stated above.

Araucoacting as lessor

Reconciliation of Financial Lease Minimum Payments:

	12-31-2017
	Gross	Interest	Present Value
Periods	ThU.S.$	ThU.S.$	ThU.S.$
Less than one year	12,001	69	11,932
Between one and five years	1,174	-	1,174
More than five years	-	-	-
Total	13,175	69	13,106

	12-31-2016
	Gross	Interest	Present Value
Periods	ThU.S.$	ThU.S.$	ThU.S.$
Less than one year	512	-	512
Between one and five years	353	-	353
More than five years	-	-	-
Total	865	-	865

Finance lease receivables are presented in the consolidated statements of financial position in line items “Trade and other current receivable” and “Trade and other non-current receivable” depending on their maturities stated above.

Arauco accounts for its lease contracts as finance leases. These lease contracts are for a term of less than five-years at market interest rates and leased assets are forestry machinery and equipment. They also include an early termination option, under general and special conditions stipulated in each contract.

Arauco holds leases as lessee and lessor, described in the previous tables, for which there are no impairment contingent payments or restrictions to report.

XML

REVENUE

12 Months Ended

Dec. 31, 2017

Disclosure Of Revenue [Abstract]

Disclosure of revenue [text block]

NOTE 9. REVENUE

	January - December
	2017	2016	2015
Classes of revenue	ThU.S.$	ThU.S.$	ThU.S.$
Revenue from sales of goods	5,133,339	4,649,581	5,018,138
Revenue from rendering of services	105,002	111,804	128,602
Total	5,238,341	4,761,385	5,146,740

XML

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2017

Disclosure Of Employee Benefits [Abstract]

Disclosure of employee benefits [text block]

NOTE 10. EMPLOYEE BENEFITS

Classes of Benefits and Expenses by Employee

	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Employee expenses	563,117	532,957	537,629
Wages and salaries	542,981	506,993	519,066
Severance indemnities	20,136	25,964	18,563

	2017	2016	2015
Discount rate	5.11%	4.52%	4.91%
Inflation	2.77%	2.79%	2.95%
Annual rate of wage growth	5.22%	5.22%	5.22%
Mortality rate (1)	RV-2014	RV-2009	RV-2009

(1) For the purposes of determining the technical reserves, Chilean annuity providers are required by law to utilize the mortality tables specified by the SVS (currently Chilean Commission for the Financial Market). The most recent table is the RV-2014, which is based on Chilean pensioner experience from 2006-2013 (SP &; SVS, 2013). The mortality tables distinguish between males and females.

Sensitivities to assumptions	2017 ThU.S.$
Discount rate
Increase in 100 bps	(5,170)
Decrease in 100 bps	6,018
Wage growth rates
Increase in 100 bps	5,590
Decrease in 100 bps	(5,212)

The following tables set forth the balances and the reconciliation of the present value of severance indemnities obligations as of December 31, 2017 and December 31, 2016:

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Current	5,730	5,244
Non-current	66,033	60,084
Total	71,763	65,328

	12-31-2017	12-31-2016
Reconciliation of the present value of severance indemnities obligations	ThU.S.$	ThU.S.$
Opening balance	65,328	56,433
Current service cost	5,583	5,334
Interest cost	3,208	2,957
(Gains) losses from changes in actuarial assumptions	(3,711)	2,083
Actuarial gains and losses arising from experience	1,212	3,503
Benefits paid	(5,654)	(7,871)
Increase (decrease) for foreign currency exchange rates changes	5,792	2,889
Closing balance	71,763	65,328

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS

12 Months Ended

Dec. 31, 2017

Disclosure Of EffectOf ChangesIn Foreign Exchange Rates Explanatory [Abstract]

Disclosure of effect of changes in foreign exchange rates [text block]

NOTE 11. BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS.

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Total Current Assets	2,770,363	2,722,360
Cash and Cash Equivalents	589,886	592,253
U.S Dollar	501,352	524,426
Euros	4,306	2,357
Brazilian Real	47,314	47,696
Argentine Pesos	10,038	4,046
Other currencies	3,685	3,327
Chilean Pesos	23,191	10,401
Other current financial assets	3,504	5,201
U.S Dollar	3,497	4,879
Argentine Pesos	-	315
Other currencies	7	7
Other current non-financial assets	129,837	144,915
U.S Dollar	48,632	62,246
Euros	104	71
Brazilian Real	17,158	22,537
Argentine Pesos	5,832	12,261
Other currencies	5,306	3,500
Chilean Pesos	52,805	44,300
Trade and other current receivables	814,412	701,610
U.S Dollar	550,674	489,056
Euros	20,498	26,544
Brazilian Real	89,673	46,150
Argentine Pesos	26,863	15,137
Other currencies	17,702	16,620
Chilean Pesos	106,442	106,681
U.F.	2,560	1,422
Accounts receivable due from related companies	3,488	12,505
U.S Dollar	726	274
Brazilian Real	171	726
Chilean Pesos	2,192	10,548
U.F.	399	957
Current Inventories	868,462	852,612
U.S Dollar	809,689	812,748
Brazilian Real	58,773	39,864
Current biological assets	307,796	306,117
U.S Dollar	270,761	271,551
Brazilian Real	37,035	34,566
Current tax assets	49,471	104,088
U.S Dollar	7,769	6,199
Brazilian Real	6,721	5,798
Argentine Pesos	-	39
Other currencies	3,188	2,696
Chilean Pesos	31,793	89,356
Non-current assets or disposal groups classified as held for sale	3,507	3,059
U.S Dollar	2,835	3,059
Brazilian Real	672	-

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Total Non-Current Assets	11,224,237	11,283,821
Other non-current financial assets	56,600	8,868
U.S Dollar	56,600	8,868
Other non-current non-financial assets	121,521	130,319
U.S Dollar	104,711	95,658
Brazilian Real	4,629	4,042
Argentine Pesos	11,303	9,900
Other currencies	693	636
Chilean Pesos	185	20,083
Trade and other non-current receivables	16,040	14,273
U.S Dollar	4,247	6,895
Brazilian Real	3,345	-
Other currencies	-	527
Chilean Pesos	6,692	5,753
U.F.	1,756	1,098
Accounts receivable due from related companies, non-current	1,056	957
U.F.	1,056	957
Investments accounted for using equity method	368,772	446,548
U.S Dollar	130,276	124,324
Euros	185,410	156,990
Brazilian Real	53,080	165,203
Chilean Pesos	6	31
Intangible assets other than goodwill	88,615	89,497
U.S Dollar	87,007	88,394
Brazilian Real	1,516	1,026
Chilean Pesos	92	77
Goodwill	69,922	74,893
U.S Dollar	42,656	42,508
Brazilian Real	27,266	32,385
Property, plant and equipment	7,034,299	6,919,495
U.S Dollar	6,443,081	6,394,105
Brazilian Real	585,202	520,448
Chilean Pesos	6,016	4,942
Non-current biological assets	3,459,146	3,592,874
U.S Dollar	2,934,819	3,185,872
Brazilian Real	524,327	407,002
Deferred tax assets	8,266	6,097
U.S Dollar	4,319	4,134
Brazilian Real	3,622	1,697
Other currencies	32	52
Chilean Pesos	293	214

	12-31-2017			12-31-2016
	Up to 90 days	From 91 days to 1 year	Total	Up to 90 days	From 91 days to 1 year	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Total Liabilities, current	1,045,364	354,030	1,399,394	806,280	539,784	1,346,064
Other current financial liabilities	148,778	351,566	500,344	196,001	501,451	697,452
U.S Dollar	134,125	284,293	418,418	178,442	455,908	634,350
Brazilian Real	2,383	4,660	7,043	3,558	1,282	4,840
Argentine Pesos	-	-	-	11	29	40
Chilean Pesos	1,508	4,116	5,624	1,132	3,387	4,519
U.F.	10,762	58,497	69,259	12,858	40,845	53,703
Bank Loans	110,700	282,172	392,872	134,140	61,483	195,623
U.S Dollar	108,317	277,512	385,829	130,571	60,172	190,743
Brazilian Real	2,383	4,660	7,043	3,558	1,282	4,840
Argentine Pesos	-	-	-	11	29	40
Financial Leases	9,928	34,413	44,341	9,534	30,866	40,400
Chilean Pesos	1,508	4,116	5,624	1,132	3,387	4,519
U.F.	8,420	30,297	38,717	8,402	27,479	35,881
Other Loans	28,150	34,981	63,131	52,327	409,102	461,429
U.S Dollar	25,808	6,781	32,589	47,871	395,736	443,607
U.F.	2,342	28,200	30,542	4,456	13,366	17,822
Trade and other current payables	717,342	4	717,346	511,371	26,520	537,891
U.S Dollar	193,562	-	193,562	146,652	3,510	150,162
Euros	9,099	-	9,099	12,006	1,028	13,034
Brazilian Real	124,917	-	124,917	4,849	21,982	26,831
Argentine Pesos	29,243	-	29,243	31,661	-	31,661
Other currencies	4,936	-	4,936	12,244	-	12,244
Chilean Pesos	333,525	4	333,529	285,359	-	285,359
U.F.	22,060	-	22,060	18,600	-	18,600
Accounts payable to related companies	11,208	-	11,208	3,831	-	3,831
U.S Dollar	1,354	-	1,354	1,969	-	1,969
Chilean Pesos	9,854	-	9,854	1,862	-	1,862
Other current provisions	2,728	-	2,728	842	-	842
U.S Dollar	622	-	622	842	-	842
Brazilian Real	2,106	-	2,106	-	-	-
Current tax liabilities	6,361	1,727	8,088	1,641	-	1,641
U.S Dollar	283	-	283	448	-	448
Euros	158	-	158	7	-	7
Argentine Pesos	46	-	46	133	-	133
Other currencies	479	-	479	574	-	574
Chilean Pesos	5,395	1,727	7,122	479	-	479
Current provisions for employee benefits	5,595	135	5,730	5,214	30	5,244
Chilean Pesos	5,595	135	5,730	5,214	30	5,244
Other current non-financial liabilities	153,352	598	153,950	87,380	11,783	99,163
U.S Dollar	119,309	582	119,891	62,974	163	63,137
Euros	77	-	77	53	-	53
Brazilian Real	18,016	-	18,016	9,426	11,616	21,042
Argentine Pesos	3,215	-	3,215	3,474	-	3,474
Other currencies	3,906	-	3,906	3,202	-	3,202
Chilean Pesos	8,809	16	8,825	8,183	4	8,187
U.F.	20	-	20	68	-	68

	12-31-2017			12-31-2016
	From 13 months to 5 years	More than 5 years	Total	From 13 months to 5 years	More than 5 years	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Total non-current liabilities	3,025,553	2,452,760	5,478,313	3,599,291	2,061,543	5,660,834
Other non-current financial liabilities	1,455,641	2,322,926	3,778,567	2,020,484	1,850,430	3,870,914
U.S Dollar	970,631	1,508,999	2,479,630	1,591,127	1,075,204	2,666,331
Brazilian Real	16,506	-	16,506	17,098	1,042	18,140
Chilean Pesos	9,839	-	9,839	11,151	-	11,151
U.F.	458,665	813,927	1,272,592	401,108	774,184	1,175,292
Bank Loans	327,424	138,161	465,585	626,384	92,351	718,735
U.S Dollar	310,918	138,161	449,079	609,286	91,309	700,595
Brazilian Real	16,506	-	16,506	17,098	1,042	18,140
Financial Leases	68,035	-	68,035	73,586	-	73,586
Chilean Pesos	9,839	-	9,839	11,151	-	11,151
U.F.	58,196	-	58,196	62,435	-	62,435
Other Loans	1,060,182	2,184,765	3,244,947	1,320,514	1,758,079	3,078,593
U.S Dollar	659,713	1,370,838	2,030,551	981,841	983,895	1,965,736
U.F.	400,469	813,927	1,214,396	338,673	774,184	1,112,857
Other non-current provisions	36,008	-	36,008	38,138	-	38,138
U.S Dollar	7	-	7	1	-	1
Brazilian Real	4,682	-	4,682	5,425	-	5,425
Argentine Pesos	31,316	-	31,316	32,712	-	32,712
Chilean Pesos	3	-	3	-	-	-
Deferred tax liabilities	1,355,531	129,834	1,485,365	1,479,596	151,469	1,631,065
U.S Dollar	1,247,096	129,834	1,376,930	1,412,506	131,406	1,543,912
Brazilian Real	108,435	-	108,435	67,090	20,063	87,153
Non-current provisions for employee benefits	66,033	-	66,033	60,084	-	60,084
Other currencies	129	-	129	144	-	144
Chilean Pesos	65,904	-	65,904	59,940	-	59,940
Other non-current non-financial liabilities	112,340	-	112,340	989	59,644	60,633
U.S Dollar	13	-	13	430	-	430
Brazilian Real	111,634	-	111,634	-	59,644	59,644
Argentine Pesos	480	-	480	349	-	349
Chilean Pesos	213	-	213	206	-	206
U.F.	-	-	-	4	-	4

The table below sets forth the subsidiaries that have determined a functional currency other than the U.S. Dollar as follows:

Subsidiary	Country	Functional Currency
Arauco do Brasil S.A.	Brazil	Brazilian Real
Arauco Forest Brasil S.A.	Brazil	Brazilian Real
Arauco Florestal Arapoti S.A.	Brazil	Brazilian Real
Arauco Industria de Paineis Ltda.	Brazil	Brazilian Real
Empreendimentos Florestais Santa Cruz Ltda.	Brazil	Brazilian Real
Mahal Empreendimentos e Participacoes S.A.	Brazil	Brazilian Real
Investigaciones Forestales Bioforest S.A.	Chile	Chilean Pesos
Consorcio Protección Fitosanitaria Forestal S.A.	Chile	Chilean Pesos
Forestal Nuestra Señora del Carmen S.A.	Argentina	Argentine Pesos
Forestal Talavera S.A.	Argentina	Argentine Pesos
Greeneagro S.A.	Argentina	Argentine Pesos
Leasing Forestal S.A.	Argentina	Argentine Pesos
Savitar S.A.	Argentina	Argentine Pesos
Flakeboard Company Limited	Canada	Canadian Dollar

The table below shows a detail per company of the effect in the period of the Reserve of Exchange Differences on translation:

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Arauco do Brasil S.A.	(6,537)	73,087	(155,390)
Arauco Forest Brasil S.A.	(6,929)	68,314	(140,992)
Arauco Florestal Arapoti S.A.	(1,051)	19,523	(43,189)
Arauco Distribución S.A.	-	-	(4,180)
Sonae Arauco S.A.	20,547	-	-
Arauco Argentina S.A.	(752)	4,989	(13,308)
Flakeboard Company Limited	6,529	2,984	(16,915)
Others	307	(13)	(301)
Total reserve of exchange differences on translation	12,114	168,884	(374,275)

Effect of foreign exchange rates changes

	January-December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Exchange differences recognized in profit or loss, except for those arising on financial instruments measured at fair value through profit or loss	98	(3,935)	(40,827)
Reserve of exchange differences on translation (with Non-controlling interests)	11,873	173,754	(385,109)

XML

BORROWING COSTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Borrowing Costs [Abstract]

Disclosure of borrowing costs [text block]

NOTE 12. BORROWING COSTS

Arauco estimates the average rate of borrowings to finance its current investments projects. The average rate loans to finance these investments projects were claculated to record the capitalization.

	January - December
	2017		2016
	ThU.S.$		ThU.S.$
Property, plant and equipment capitalized cost
Property, plant and equipment capitalized interest cost rate	4.91	%	5.11	%
Amount of the capitalized interest cost, property, plant and equipment	5,603		2,177

XML

RELATED PARTIES

12 Months Ended

Dec. 31, 2017

Disclosure Of Related Party [Abstract]

Disclosure of related party [text block]

NOTE 13. RELATED PARTIES

Related Party Disclosures

Related parties are those entities defined in IAS 24 and under the rules of the Superintendency of Securities and Insurance (current Chilean Commission for the Financial Market) and the Chilean Corporations Law.

The receivable and payable amounts among related parties at the end of each period correspond to commercial and financing transactions denominated in Chilean Pesos, U.S. dollars and Brazilian Real, where collection or payment deadlines are shown in the following tables and in general do not bear interest, except for financing transactions.

As of the date of these consolidated financial statements, the main transactions with related parties are related to fuel purchases with Compañía de Petróleos de Chile S.A. and sodium chlorate purchases at EKA Chile S.A.

As of the date of these consolidated financial statements, there are neither provisions for doubtful accounts nor any guarantees granted or received related to the balances with related parties.

Name of Group’s Main Shareholders

The ultimate shareholders of Arauco, direct and indirectly, are Mrs. Maria Noseda Zambra de Angelini, Mr. Roberto Angelini Rossi and Mrs. Patricia Angelini Rossi. Mrs. María Noseda Zambra (who passed away on April 15, 2018).

Name of the Intermediate Controlling Entity that Produces Consolidated Financial Statements for Public Use

Empresas Copec S.A.

Compensation to Key Management Personnel

Compensation to key management personnel, including directors, managers and deputy managers, consist of a fixed monthly salary, and managers and deputy managers also receive an annual bonus subject to the results of the Company and the fulfillment of goals of the business as well as individual performance.

Pricing Strategy Terms and Conditions Corresponding to Transactions with Related Parties

Related party transactions are equitable in relation to other transactions regularly performed at market conditions, with mutual independence of the parties.

The table below sets forth information about the Relationship between the Parent Company and its Subsidiaries

				% Ownership interest			% Ownership interest
			Functional	12-31-2017			12-31-2016
ID N°	Company Name	Country	Currency	Direct	Indirect	Total	Direct	Indirect	Total
-	Agenciamiento y Servicios Profesionales S.A.	Mexico	U.S. Dollar	0.0020	99.9970	99.9990	0.0020	99.9970	99.9990
-	Arauco Argentina S.A.	Argentina	U.S. Dollar	9.9753	90.0048	99.9801	9.9753	90.0048	99.9801
-	Arauco Australia Pty Ltd.	Australia	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
96547510-9	Arauco Bioenergía S.A.	Chile	U.S. Dollar	98.0000	1.9999	99.9999	98.0000	1.9999	99.9999
-	Arauco Colombia S.A.	Colombia	U.S. Dollar	1.4778	98.5204	99.9982	1.4778	98.5204	99.9982
-	Arauco do Brasil S.A.	Brazil	Brazilian Real	1.1624	98.8366	99.9990	1.1624	98.8366	99.9990
-	Arauco Europe Cooperatief U.A.	Netherlands	U.S. Dollar	0.5689	99.4301	99.9990	0.4614	99.5376	99.9990
-	Arauco Florestal Arapoti S.A.	Brazil	Brazilian Real	-	79.9992	79.9992	-	79.9992	79.9992
-	Arauco Forest Brasil S.A.	Brazil	Brazilian Real	9.9971	90.0021	99.9992	10.1297	89.8694	99.9991
-	Arauco Industria de Paineis Ltda.	Brazil	Brazilian Real	-	99.9990	99.9990	-	-	-
-	Arauco Middle East DMCC	Dubai	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
76620842-8	Arauco Nutrientes Naturales SPA	Chile	U.S. Dollar	-	99.9484	99.9484	-	99.9484	99.9484
-	Arauco Panels USA, LLC	USA	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
-	Arauco Perú S.A.	Peru	U.S. Dollar	0.0013	99.9977	99.9990	0.0013	99.9977	99.9990
-	Arauco Wood Products, Inc.	USA	U.S. Dollar	0.0004	99.9986	99.9990	0.0004	99.9986	99.9990
-	Araucomex S.A. de C.V.	Mexico	U.S. Dollar	0.0005	99.9985	99.9990	0.0005	99.9985	99.9990
96657900-5	Consorcio Protección Fitosanitaria Forestal S.A.	Chile	Chilean Pesos	-	57.5223	57.5223	-	57.5404	57.5404
-	Empreendimentos Florestais Santa Cruz Ltda.	Brazil	Brazilian Real	-	99.9795	99.9795	-	99.9789	99.9789
-	Flakeboard America Limited	USA	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
-	Flakeboard Company Ltd.	Canada	Canadian Dollar	-	99.9990	99.9990	-	99.9990	99.9990
85805200-9	Forestal Arauco S.A.	Chile	U.S. Dollar	99.9484	-	99.9484	99.9484	-	99.9484
93838000-7	Forestal Cholguán S.A.	Chile	U.S. Dollar	-	98.4826	98.4826	-	98.4744	98.4744
-	Forestal Concepción S.A.	Panama	U.S. Dollar	-	-	-	0.0050	99.9940	99.9990
78049140-K	Forestal Los Lagos S.A.	Chile	U.S. Dollar	-	79.9587	79.9587	-	79.9587	79.9587
-	Forestal Nuestra Señora del Carmen S.A.	Argentina	Argentine pesos	-	99.9805	99.9805	-	99.9805	99.9805
-	Forestal Talavera S.A.	Argentina	Argentine pesos	-	99.9942	99.9942	-	99.9942	99.9942
-	Greenagro S.A.	Argentina	Argentine pesos	-	97.9805	97.9805	-	97.9805	97.9805
96563550-5	Inversiones Arauco Internacional Ltda.	Chile	U.S. Dollar	98.0186	1.9804	99.9990	98.0186	1.9804	99.9990
79990550-7	Investigaciones Forestales Bioforest S.A.	Chile	Chilean Pesos	1.0000	98.9489	99.9489	1.0000	98.9489	99.9489
-	Leasing Forestal S.A.	Argentina	Argentine pesos	-	99.9801	99.9801	-	99.9801	99.9801
96510970-6	Maderas Arauco S.A. (ex Paneles Arauco S.A.)	Chile	U.S. Dollar	99.0000	0.9995	99.9995	99.0000	0.9995	99.9995
-	Mahal Empreendimentos e Participacoes S.A.	Brazil	Brazilian Real	-	99.9961	99.9961	-	99.9934	99.9934
-	Novo Oeste Gestao de Ativos Florestais S.A.	Brazil	Brazilian Real	-	99.9991	99.9991	-	99.9990	99.9990
-	Savitar S.A.	Argentina	Argentine pesos	-	99.9841	99.9841	-	99.9841	99.9841
76375371-9	Servicios Aéreos Forestales Ltda.	Chile	U.S. Dollar	0.0100	99.9890	99.9990	0.0100	99.9890	99.9990
96637330-K	Servicios Logísticos Arauco S.A.	Chile	U.S. Dollar	45.0000	54.9997	99.9997	45.0000	54.9997	99.9997

The companies in the table below are classified as joint operations in accordance with IFRS 11. The assets, liabilities, income and expenses are recorded in relation to the Company’s ownership percentage in accordance with accounting standards applicable in each case.

Company Name	Country	Functional Currency
Eufores S.A.	Uruguay	U.S. Dollar
Celulosa y Energía Punta Pereira S.A.	Uruguay	U.S. Dollar
Zona Franca Punta Pereira S.A.	Uruguay	U.S. Dollar
Forestal Cono Sur S.A.	Uruguay	U.S. Dollar
Stora Enso Uruguay S.A.	Uruguay	U.S. Dollar
El Esparragal Asociación Agraria de R.L.	Uruguay	U.S. Dollar
Ongar S.A.	Uruguay	U.S. Dollar
Terminal Logística e Industrial M’Bopicua S.A.	Uruguay	U.S. Dollar

There are no significant restrictions on the ability of subsidiaries to transfer funds to Arauco, in the form of cash dividends or repayment of loans and/or advances.

Employee Benefits for Key Management Personnel

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Salaries and bonuses	59,501	73,398	65,760
Per diem compensation to members of the Board of Directors	2,566	1,783	1,097
Termination benefits	4,936	6,174	2,250
Total	67,003	81,355	69,107

Related Party Receivables, Current

Name of Related Party	Tax ID No.	Nature of Relationship	Country	Currency	Maturity	12-31-2017 ThU.S.$	12-31-2016 ThU.S.$
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	30 days	25	39
Eka Chile S.A.	99.500.140-3	Joint Venture	Chile	Chilean pesos	30 days	2,027	1,701
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	30 days	4	7,618
Unilin Arauco Pisos Ltda.	-	Joint Venture	Brazil	Brazilian Real	30 days	171	726
Colbún S.A.	96.505.760-9	Common director	Chile	Chilean pesos	30 days	136	-
CMPC Celulosa S.A.	96.532.330-9	Common Stockholder	Chile	Chilean pesos	-	-	2
Fundación Educacional Arauco	71.625.000-8	Common director	Chile	Chilean pesos	-	-	1,188
Fundación Acerca Redes	65.097.218-K	Parent company is founder and contributor	Chile	U.S. Dollar	30 days	726	274
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	30 days	399	957
TOTAL						3,488	12,505

Related Party Receivables, Non-Current

		Nature of				12-31-2017	12-31-2016
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Maturity	ThU.S.$	ThU.S.$
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	Sep-18	528	478
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	Sep-19	528	478
TOTAL						1,056	957

Related Party Payables, Current

		Nature of				12-31-2017	12-31-2016
Name of Related party	Tax ID No.	Relationship	Country	Currency	Maturity	ThU.S.$	ThU.S.$
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	30 days	8,837	1,758
Abastible S.A.	91.806.000-6	Controlling Parent’s Subsidiary	Chile	Chilean pesos	30 days	545	97
Fundación Educacional Arauco	71.625.000-8	Common director	Chile	Chilean pesos	30 days	54	-
Red to Green S.A. (Ex-Sigma Servicios Informáticos S.A.)	86.370.800-1	Common director	Chile	Chilean pesos	30 days	1	-
Portaluppi, Guzman y Bezanilla Abogados	78.096.080-9	Common director	Chile	Chilean pesos	30 days	146	-
Empresa Nacional de Telecomunicaciones S.A.	92.580.000-7	Common Stockholder	Chile	Chilean pesos	30 days	137	-
Servicios Corporativos Sercor S.A.	96.925.430-1	Subsidiary of the Associate	Chile	Chilean pesos	30 days	29	-
Puerto Lirquén S.A.	96.959.030-1	Subsidiary of the Associate	Chile	U.S. Dollar	30 days	1,354	1,246
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.S. Dollar	-	-	723
Adm.Estaciones de Servicio Serco Ltda.	79.689.550-0	Common controlling parent	Chile	Chilean pesos	30 days	1	-
Adm. de Ventas al Detalle Arco Prime Ltda.	77.215.640-5	Common controlling parent	Chile	Chilean pesos	30 days	14	5
Empresa Distrib. Papeles y Cartones S.A.	88.566.900-k	Common Stockholder	Chile	Chilean pesos	-	-	2
Elemental S.A.	76.659.730-0	Indirect associate of controlling parent	Chile	Chilean pesos	30 days	4	-
Woodtech S.A.	76.724.000-7	Indirect associate of controlling parent	Chile	Chilean pesos	30 days	86	-
TOTAL						11,208	3,831

Related Party Transactions

Purchases

		Nature of			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Abastible S.A.	91.806.000-6	Common controlling parent	Chile	Chilean pesos	Fuel	3,115	2,199	2,503
Empresas Copec S.A.	90.690.000-9	Controlling Parent	Chile	Chilean pesos	Management service	106	356	233
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	Fuel and other	66,789	39,732	61,245
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.S. Dollar	Transport and stowage	9,986	8,633	10,917
Puerto Lirquén S.A.	96.959.030-1	Subsidiary of the Associate	Chile	U.S. Dollar	Port services	6,956	7,311	7,694
EKA Chile S.A.	99.500.140-3	Joint Venture	Chile	Chilean pesos	Sodium chlorate	44,055	47,236	39,362
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	Wood and ships	1,310	2,093	2,018
Portaluppi, Guzman y Bezanilla Abogados	78.096.080-9	Common director	Chile	Chilean pesos	Legal services	1,496	1,295	1,312
Empresa Nacional de Telecomunicaciones S.A.	92.580.000-7	Common Stockholder	Chile	Chilean pesos	Telephone services	460	512	552
CMPC Maderas S.A.	95.304.000-K	Common Stockholder	Chile	Chilean pesos	Wood and logs	330	511	267
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	Wood and logs	62	180	204
Red to Green S.A. (Ex-Sigma Servicios Informáticos S.A.)	86.370.800-1	Common director	Chile	Chilean pesos	Computer Services	130	249	59
Empresa de Residuos Resiter Ltda	89.696.400-3	Common director	Chile	Chilean pesos	Industrial Cleaning Services	-	-	(285)
Empresas de Residuos Industriales Resiter Ltda	76.329.072-7	Common director	Chile	Chilean pesos	Industrial Cleaning Services	-	-	5,027
Resiter Uruguay S.A.	-	Common director	Uruguay	U.S. Dollar	Service to collect solid waste	-	-	774
Colbún Transmisión S.A.	76.218.856-2	Common director	Chile	Chilean pesos	Electrical Power	389	383	447
Woodtech S.A.	76.724.000-7	Indirect associate of controlling parent	Chile	Chilean pesos	Wood volumen measurement services	2,239	982	-
Inversiones Siemel S.A.	94.082.000-6	Common Stockholder	Chile	Chilean pesos	Rentals	596	777	-
CMPC Celulosa S.A.	96.532.330-9	Common Stockholder	Chile	Chilean pesos	Others purchases	965	3	2,217

Sales

		Relationship			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Nature of	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	Charter Services	202	-	-
Colbún S.A.	96.505.760-9	Common director	Chile	Chilean pesos	Electrical Power	1,128	5,999	1,083
EKA Chile S.A.	99.500.140-3	Joint venture	Chile	Chilean pesos	Electrical Power	19,182	16,326	17,543
Stora Enso Arapoti Industria de Papel S.A.	-	Subsidiary of the Associate	Brazil	Brazilian Real	Wood	-	1,149	5,617
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	Harvesting services, Wood and chips	25,322	21,657	19,328
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	Wood	-	47	311
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.F.	Sale Land	-	1,914	-
Unilin Arauco Pisos Ltda.	-	Joint venture	Brazil	Brazilian Real	Wood	2,966	5,263	2,666

Other Transactions

		Nature of			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Novo Oeste Gestao de Ativo Florestais S.A.	-	Subsidiary of the Associate	Brazil	Brazilian Real	Loans (Capital and interest)	-	-	41,091

(1) Since October 2015, the company is a subsidiary of Arauco, therefore, the transactions presented in this note are those made with this Company until that month (see Note 14).

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CONSOLIDATED FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Consolidated And Separate Financial Statements [Abstract]

Disclosure of separate financial statements [text block]

NOTE 14. CONSOLIDATED FINANCIAL STATEMENTS

On December 6, 2017, the subsidiary Arauco do Brasil S.A. acquired all the equity rights of Masisa do Brasil Ltda. (currently Arauco Industria de Paineis Ltda.) for a value of ThU.S.$ 32,698. During December 2017, Arauco paid ThU.S.$ 15,918. Later, in February 2018, the remaining balance of ThU.S$ 16,780 was paid. The main assets acquired consist of 2 industrial complexes that would give Arauco an installed capacity of approximately 10 million m3.

Arauco recognized the acquisition of Arauco Industria de Paineis Ltda. over the basis of the information available at the date of the transaction, performing a preliminary calculation of the allocation of fair values in the acquisition of this Company. The recorded assets and liabilities are considered provisional amounts and may be adjusted during the measurement period of this acquisition, in order to reflect new information obtained regarding facts and circumstances existing as of the date of acquisition which, had they been known, would have affected the measurements of the amounts recorded by that date. The measurement period will not exceed the term of one year, from the acquisition date.

The table below shows the fair values of assets and liabilities at the date of the transaction:

	12-06-2017
ARAUCO INDUSTRIA DE PAINEIS LTDA.	ThU.S.$
Cash and cash equivalent	4,345
Trade and other current receivables	49,715
Inventories	23,331
Property, plant and equipment	68,321
Other assets	27,012
Total assets	172,724
Other financial liabilities, current and non-current	43,218
Trade and other payables	26,437
Other liabilities	70,371
Total liabilities	140,026

The following table shows revenue and net profit recognized at the acquisition day:

	12-01-2017 al 12-31-2017
ARAUCO INDUSTRIA DE PAINEIS LTDA.	ThU.S.$
Revenue	11,830
Net loss	(1,376)

If the acquisition had occurred on January 1, 2017, consolidated pro-forma revenue and profit for the year ended December 31, 2017 would have been:

CELULOSA ARAUCO Y CONSTITUCIÓN S.A. AND	January-December 2017 (Pro-forma)
SUBSIDIARIES	ThU.S.$
Revenue	5,395,859
Net profit	261,776

These amounts have been calculated using the subsidiary’s results and adjusting them for property, plant and equipment impairments before the acquisition.

On August 2, 2016, our subsidiary Forestal Arauco S.A. incorporated the company Arauco Nutrientes Naturales SPA, with a capital contribution of ThU.S.$5,000 of which, as of December 31, 2017 ThU.S.$3,000 had been paid. The corporate purpose of the company is the manufacture and sale of products made from extracts, fruits, and others.

The details of the subsidiaries included in the consolidation of Arauco are disclosed in Note 13.

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INVESTMENTS IN ASSOCIATES

12 Months Ended

Dec. 31, 2017

Disclosure Of Investments In Associates [Abstract]

Disclosure of interests in associates [text block]

NOTE 15. INVESTMENTS IN ASSOCIATES

At December 31, 2017 and December 31, 2016 there were no new investments in associates to report.

On March 31, 2016, our subsidiary Arauco do Brasil S.A. sold its stake at Stora Enso Arapoti Industria de Papel S.A. for ThU.S.$4,141. This transaction generated a loss of ThU.S.$10,369, as reflected in the Consolidated Statements of Profit or Loss, in the line item “Other Expenses”.

The following tables set forth information about Investments in associates.

Name	Puertos y Logística S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Docking and warehousing operations for proprietary and third party use, cargo of all classes of goods, as well, as warehousing and transport operations.
Ownership interest (%)	20.2767%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$62,225	ThU.S.$61,505

Name	Inversiones Puerto Coronel S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Investments in movables and real estate, acquisition of companies, securities and investment instruments, investment management and development and/or participation in all kind of businesses and companies related to industrial, shipping, forestry and commercial activities.
Ownership interest (%)	50.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$47,619	ThU.S.$43,559

Name	Servicios Corporativos Sercor S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Consulting services related to business management to Boards of Directors and Senior Management of all Arauco’s entities.
Ownership interest (%)	20.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$ 191	ThU.S.$ 190

Name	Genómica Forestal S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing forestry genomics, through the use of biotechnological, molecular and bioinformatics tools with the purpose of strengthening genetic programs so as to improve the competitive position of the Chilean forestry industry for priority tree species.
Ownership interest (%)	25.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$(4)	ThU.S.$(1)

Name	Consorcio Tecnológico Bioenercel S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing of technologies which will promote the development of a biofuels industry in Chile, obtained from lingo-cellulosic materials. The future execution of this sustainable project is financed by the Innova Chile Committee.
Ownership interest (%)	20.0000%

 

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$6	ThU.S.$31

Name	Vale do Corisco S.A.
Country	Brazil
Functional Currency	Brazilian Real
Corporate purpose	Management of forestry activities.
Ownership interest (%)	49.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$48,921	ThU.S.$160,490

Summarized Financial Information of Associates

	Assets
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv.Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel S.A.	Genómica Forestal S.A.	Total
12-31-2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	92,816	29	4,296	-	6,384	5	25	103,555
Non-current	590,309	97,072	769	-	126,215	45	24	814,434
Total	683,125	97,101	5,065	-	132,599	50	49	917,989

	Liabilities
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv. Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel S.A.	Genómica Forestal S.A.	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	44,564	82	3,219	-	123	-	14	48,002
Non-current	331,681	-	871	-	32,636	5	50	365,243
Equity	306,880	97,019	975	-	99,840	45	(15)	504,744
Total	683,125	97,101	5,065	-	132,599	50	49	917,989
12-31-2017
Revenues	130,720	4,741	5,211	-	34,449	2	30	175,153
Expenses	(132,538)	-	(5,246)	-	(29,648)	(10)	(36)	(167,478)
Profit or loss (continuing operations)	(1,818)	4,741	(35)	-	4,801	(8)	(6)	7,675
Other comprehensive income	5,850		-	-	95,039	-	-	100,889
Total comprehensive income	4,032	4,741	(35)	-	99,840	(8)	(6)	108,564
Dividends	-	-	-	-	-	-	-	-

	Assets
	Puertos y Logística  S.A.	Inversiones Puerto Coronel  S.A.	Serv. Corporativos Sercor  S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel  S.A.	Genómica Forestal  S.A.	Total
12-31-2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	76,021	29	4,608	-	24,972	6	26	105,662
Non-current	572,831	88,936	668	-	415,083	153	63	1,077,734
Total	648,852	88,965	5,276	-	440,055	159	89	1,183,396

	Liabilities
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv. Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco  S.A.	Consorcio Tecnológico Bioenercel  S.A.	Genómica Forestal S.A.	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	44,457	82	3,412	-	3,446	-	9	51,406
Non-current	301,065	-	912	-	109,079	6	85	411,147
Equity	303,330	88,883	952	-	327,530	153	(5)	720,843
Total	648,852	88,965	5,276	-	440,055	159	89	1,183,396
12-31-2016
Revenues	107,722	3,072	4,591	492	44,822	33	94	160,826
Expenses	(98,642)	-	(4,587)	(6,320)	(15,238)	(147)	(100)	(125,034)
Profit or loss (continuing operations)	9,080	3,072	4	(5,828)	29,584	(114)	(6)	35,792
Other comprehensive income	7,385	(29)	-	-	-	-	-	7,356
Total Comprehensive income	16,465	3,043	4	(5,828)	29,584	(114)	(6)	43,177
Dividends	-	-	-	-	1,420	-	-	1,420

Reconciliation of Investment in Associates and Joint Ventures

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Opening balance as of January 1. 2017	446,548	264,812
Changes
Investment in joint ventures, Additions	-	153,135
Disposals, Investments in associates and joint ventures	-	(14,510)
Share of profit (loss) in investment in associates	4,855	16,349
Share of profit (loss) in investment in joint ventures	12,162	7,590
Dividends Received, Investments in Associates	(8,586)	(5,320)
Increase (Decrease) in foreign exchange currency on translation of Associates and Joint Ventures	22,726	20,634
Other increase (decrease) in investment and associates and joint ventures (*)	(108,933)	3,858
Total changes	(77,776)	181,736
Ending balance	368,772	446,548

(*) In May 2017, Arauco’s associate Florestal Vale do Corisco S.A. performed a return of capital to its shareholders. This transaction did not generate effects in the Consolidated Statements of Profit or Loss nor modified Arauco’s shareholding in Florestal Vale do Corisco S.A.

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Carrying amount of associates accounted for using equity method	158,772	265,775
Carrying amount of joint ventures accounted for using equity method	209,805	180,773
Total investment accounted for using equity method	368,577	446,548

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INTERESTS IN JOINT ARRANGEMENTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Interests In Joint Arrangements [Abstract]

Disclosure of interests in joint arrangements [text block]

NOTE 16. INTERESTS IN JOINT ARRANGEMENTS

Investments and contributions made

On May 31, 2016, Inversiones Arauco Internacional Limitada, Arauco’s subsidiary, acquired 50% of the shares of Tableros de Fibras S.A, a Spanish subsidiary of SONAE INDUSTRIA, SGPS, S.A. (“Sonae”), which as of such date changed its name to “Sonae Arauco S.A.”. The price paid by Arauco for the acquisition of 50% of the shares of Sonae Arauco was the amount of €137,500,000 (equivalent to ThU.S.$153,135 at the acquisition date). This transaction generated a goodwill of ThU.S.$36,190, as shown in the Consolidated Statements of Financial Position as part of the investment.

Sonae Arauco produces and sales wood panels, of the type of MDF, PB and OSB, and sawn timber, through the operation of 2 panel plants and one sawmill in Spain; 2 panel plants and one resin plant in Portugal; 4 panel plants in Germany and 2 panel plants in South Africa.

In the aggregate, the production capacity of Sonae Arauco is of approximately 1.4 million m3 of MDF, 2.1 million m3 of particleboard, 486,000 m3 of OSB and 50,000 m3 of sawn timber.

As of December 31, 2017 and 2016, Arauco has not carried out any contributions to Uruguayan companies Celulosa y Energía Punta Pereira S.A. and Zona Franca Punta Pereira S.A.

The investments in Uruguay qualify as a joint operation. In relation to “other rights and contractual conditions”, the joint operation has the primary objective of providing the parties an output. As established in the “Pulp Supply Agreement”, both Arauco and its partner have the obligation to acquire 100% of the yearly pulp produced by the joint operation. Arauco has recognized the assets, liabilities, income and expenses associated with its interest ownership, as of January 1, 2013, pursuant to IFRS 11.

Furthermore, Arauco holds a 50% ownership interest in Unilin Arauco Pisos Laminados Ltda., a Brazilian company, and in Eka Chile S.A. (“Eka”), a company that sells sodium chlorate to cellulose plants in Chile. There is a contractual agreement with these companies whereby Arauco has engaged in an economic activity subject to common control, which is classified as a joint venture.

The following tables set forth summarized financial information of the more significant interests in joint arrangements, which qualify as joint operations:

	12-31-2017		12-31-2016
Celulosa y Energía Punta Pereira S.A.	Assets	Liabilities	Assets	Liabilities
(Uruguay)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	202,669	186,626	173,258	182,834
Non-current	2,076,255	586,034	2,131,266	735,679
Equity		1,506,264		1,386,011
Total Joint Arrangement	2,278,924	2,278,924	2,304,524	2,304,524
Investment	753,132		693,006

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	768,508	680,819
Expenses	(650,174)	(618,387)
Joint Arrangement Net Income (Loss)	118,334	62,432

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Forestal Cono Sur S.A. (consolidated)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	33,012	22,582	23,745	21,039
Non-current	174,943	2,314	178,236	1,381
Equity		183,059		179,561
Total Joint Arrangement	207,955	207,955	201,981	201,981
Investment	91,530		89,781

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	15,113	8,443
Expenses	(9,926)	(2,876)
Joint Arrangement Net Income (Loss)	5,187	5,567

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Eufores S.A.(consolidated)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	183,175	180,298	178,644	200,525
Non-current	612,187	7,948	604,736	23,052
Equity		607,116		559,803
Total Joint Arrangement	795,362	795,362	783,380	783,380
Investment	303,558		279,902

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	336,705	296,927
Expenses	(286,616)	(280,054)
Joint Arrangement Net Income (Loss)	50,089	16,873

	12-31-2017		12-31-2016
Zona Franca Punta Pereira S.A.	Assets	Liabilities	Assets	Liabilities
(Uruguay)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	6,105	97,233	4,397	82,331
Non-current	483,884	43,180	492,815	63,021
Equity		349,576		351,860
Total Joint Arrangement	489,989	489,989	497,212	497,212
Investment	174,788		175,930

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	22,129	31,042
Expenses	(24,413)	(25,966)
Joint Arrangement Net Income (Loss)	(2,284)	5,076

The following tables set forth summarized financial information of the more significant interests in joint ventures:

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Unilin Arauco Pisos Ltda.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	7,270	4,461	7,900	3,549
Non-current	5,535	28	5,094	18
Equity		8,316		9,427
Total Joint Arrangement	12,805	12,805	12,994	12,994
Investment	4,158		4,714

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	17,910	1,305
Expenses	(18,736)	(1,974)
Joint Arrangement Net Income (Loss)	(826)	(669)
Other comprehensive income	-	-
Comprehensive income	(826)	(669)
Dividends	-	-

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Eka Chile S.A.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	18,876	5,388	15,817	4,348
Non-current	32,040	5,054	31,690	5,021
Equity		40,474		38,138
Total Joint Arrangement	50,916	50,916	47,507	47,507
Investment	20,237		19,069

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	43,678	48,276
Expenses	(40,111)	(44,045)
Joint Arrangement Net Income (Loss)	3,567	4,231
Other comprehensive income	-	-
Comprehensive income	3,567	4,231
Dividends	-	-

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Sonae Arauco S.A.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	265,578	235,676	223,145	213,228
Non-current	664,689	323,770	616,467	312,404
Equity		370,821		313,980
Total Joint Arrangement	930,267	930,267	839,612	839,612
Net assets	151,920		120,800
Net asset adjustment (Goodwill)	33,491		36,190
Investment	185,411		156,990

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	976,936	507,179
Expenses	(954,979)	(495,560)
Joint Arrangement Net Income (Loss)	21,957	11,619
Other comprehensive income	-	-
Comprehensive income	21,957	11,619
Dividends	-	-

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IMPAIRMENT OF ASSETS

12 Months Ended

Dec. 31, 2017

Description Of Impairment Of Assets [Abstract]

Disclosure of impairment of assets [text block]

NOTE 17. IMPAIRMENT OF ASSETS

Provisions for impairment of property, plant and equipment due to technical obsolescence have been recorded as of December 31, 2017 and December 31, 2016, respectively, as shown below:

Disclosure of Asset Impairment
Principal classes of Assets affected by Impairment and Reversal of Losses	Machinery and Equipment
Principal Facts and Circumstances that lead to Recognizing Impairment and Reversal of losses	Technical Obsolescence and Claim
		12-31-2017	12-31-2016
Information relevant to the sum of all impairment		ThU.S.$17,396	ThU.S.$7,993

Goodwill

Goodwill is allocated to the groups of cash-generating units that are expected to benefit from the synergies of the combination.

At the date of these consolidated financial statements, the balance of goodwill is ThU.S.$69,922 (ThU.S.$74,893 at December 31, 2016), as shown below:

	12-31-2017	12-31-2016
Goodwill	ThU.S.$	ThU.S.$
Opening balance at January 1	74,893	69,475
Impairment	(4,640)	-
Increase (decrease) in foreign currency exchange	(331)	5,418
Closing balance at December 31, 2017	69,922	74,893

Of the total of goodwill, ThU.S.$39,841 (ThU.S.$39,694 as of December 31, 2016) are generated by the acquisition of “Flakeboard”, a company that, directly and/or through its subsidiaries, possesses and operates 7 panel plants, for which Arauco acquired and paid, on September 24, 2012, the price of ThU.S.$242,502 for the 100% interest ownership.

The recoverable amount for Flakeboard’s cash generating unit was determined based on the calculations of its value in use, and this calculation was made using cash flow projections covering a 5-year term, applying a real discount rate of 6.7% which reflects current market assessments for the wood products segment in North America.

The investment in the panel plant in Pien, Brazil generated a goodwill of ThU.S.$27,266 (ThU.S.$32,385 as of December 31, 2016).

The recoverable amount for the Pien plant’s cash generating unit was determined based on the calculations of its value in use, and this calculation was made using cash flow projections based on the operational plan approved by the Administration, covering a 5-year term, applying a 7% real discount rate that reflects current evaluations for the panel segment in Brazil.

As a result of the annual impairment test, the carrying value of the goodwill of the plants exceeded their recoverable value, and therefore impairment losses of ThU.S.$4,640 were recognized.

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PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES

12 Months Ended

Dec. 31, 2017

Disclosure Of Provisions Contingent Liabilities And Contingent Assets [Abstract]

Disclosure of other provisions, contingent liabilities and contingent assets [text block]

NOTE 18. PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES

The contingent liabilities for outstanding litigations are as follows:

Celulosa Arauco y Constitución S.A.

1. On August 25, 2005, the Chilean Servicio de Impuestos Internos (the “Chilean IRS”) issued tax resolutions No. 184 and No. 185 of 2005, and objected certain income tax returns made by Arauco on April 16, 2001 and October 31, 2001, and furthermore, requested the reimbursement of the amounts returned in connection to tax losses, along with the amendment of the FUT (Tax Profits Fund) Registry balance. In consideration to the foregoing, the above mentioned tax resolutions ordered the restitution of the historical amount of $4,571,664,617 (equal to ThU.S.$7,436 as of December 31, 2017). On November 7, 2005, the Company requested a Review of the Supervision Action (Revisión de la Actuación Fiscalizadora, or “RAF”), which is an administrative review of the tax action brought by the Chilean IRS, and filed a claim disputing the above mentioned tax resolutions No. 184 and 185 of 2005. The RAF was resolved on January 9, 2009 by the Chilean IRS, partially sustaining the Company’s request, granting a discount to the total amount of $1,209,399,164 (equal to ThU.S.$1,967, as of December 31, 2017), resulting in a total disputed amount of $3,362,265,453 (equal to ThU.S.$5,469 as of December 31, 2017); consequently, on this date the claim corresponding to the sums not granted during the enforcement stage was filed. On February 19, 2010, the Court acknowledged receipt of the Company’s request. Subsequently, the tax authority issued a report and the Company commented on such report.

On September 26, 2014, Arauco requested the submission of this claim to the competent jurisdiction of the new Tax and Customs Courts. On October 10, 2014, Arauco’s request was granted. Currently the action is being considered by these new Courts under the Docket No. RUC 14-9-0002087-3. On March 20, 2015, the SII responded to the allegations submitted by Arauco against Liquidations No. 184 and 185 of 2005. On June 19, 2017, the Court issued the evidence production ruling, which resolution was notified via certified letter on July 23 of 2017. Arauco lodged a motion for reconsideration and a supplementary appeal, requesting the terms of the evidence production ruling be modified. On July 7, 2017, the Court upheld the motion for reconsideration. On September 20, 2017, the Court issued its first instance decision confirming the liquidations. On October 12, 2017, Arauco challenged the decision through an appeal, requesting the Court of Appeals of Santiago to revoke the first instance decision and uphold Arauco’s claim instead. The case is pending.

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company and therefore as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

2. In connection with Licancel Plant, on June 22, 2011, the Company was notified of a civil claim for compensation of prejudice for an alleged tort liability, filed by twelve fishermen of the Mataquito River before the Court of First Instance, Guarantee and Family of Licantén under Docket number 73-2011. The case arose out of dead fish allegedly found in the Mataquito River on June 5, 2007 caused by the Licancel Plant. The plaintiffs seek to be compensated for alleged damages that they had from the aforementioned event, including loss of profits, pain and suffering and an alleged contractual liability, for a total of $2,695,560,000 (equal to ThU.S.$4,824 as of December 31, 2017).

On October 21, 2015, the Court issued a definitive first instance decision partially admitting the claim, sentencing Celulosa Arauco y Constitución S.A. to pay each claimant – as non-monetary damages – the sum of $5,000,000 (equal to ThU.S.$8, as of December 31, 2017) plus adjustments, in accordance with the variation of the Consumer Price Index, calculated as of the month of May 2007, up to the month when the payment is made. On November 16, 2015, the defendant challenged the definitive decision through the submission of a cassation appeal based on formal aspects and an ordinary appeal. In turn, the plaintiff adhered to the appeal, seeking to have the amount of the non-monetary damages recognized by the first instance decision increased. On June 27, 2017, the Court of Appeals of Talca confirmed the ruling, additionally declaring that it increased the amount awarded as non-monetary damages to $10,000,000 (equal to ThU.S.$16 as of December 31, 2017) for each claimant, plus Consumer Price Index-based adjustments, calculated from the date of the first instance ruling (October 21, 2015) up to the date of effective payment. On July 12, 2017, Arauco filed a cassation appeal based on both procedural and substantial flaws. On October 5, 2017, Arauco became a party to the Appeal.

On December 20, 2017 the parties reached a complete agreement, thus putting an end to the trial through a settlement, with Celulosa Arauco y Constitución S.A., paying - without recognizing any liability in connection with the events - an amount lower than ninety million pesos, with the plaintiffs, in turn, abandoning the cassation appeals that they had lodged. On December 28, 2017, the Supreme Corte issued a ruling declaring the waiver of both remedies. Proceedings Terminated.

3. Through Res. Ex. N° 1 issued by the Superintendence of the Environment (“SMA”) on January 8, 2016, notified on January 14, 2016, the SMA formulated 11 charges against the Company, due to alleged breaches of certain Environmental Qualification Resolutions for the Valdivia Plant and of DS No. 90/2000. The 11 charges were classified as follows by the SMA: 1 critical, 5 severe, 5 minor.

On February 12, 2016, the Company submitted its defenses.

On December 15, 2017, the Superintendence of the Environment issued Exempted Resolution No. 1,487, closing the punitive administrative proceeding, absolving the company with regards to one of the charges and convicting for other 10 charges, applying a fine of 7,777 UTA (equal to ThU.S.$ 7,131 as of December 31, 2017). On December 22, 2017, the Company submitted a motion for reconsideration regarding Exempted Resolution No. 1,487, before the SMA, requesting that we be absolved of all infringements, with the exception of the charge specified under number 7 (late submission of the water quality report regarding the Cruces river).

Exempted Resolution No. 357, issued by the Superintendence of the Environment (SMA) was notified on March 23rd, 2018, through which the reconsideration appeal lodged by the company was rejected. In consideration to the foregoing, on April 5, 2018, a judicial claim was submitted before the Third Environmental Court against Exempted Resolutions No. 1487 and No. 357 of the SMA. The complaint was declared admissible and an official letter was sent to the SMA for it to issue a report. Proceedings Pending. (Case File: R-64-2018, Third Environmental Court.)

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company, and therefore as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

4. Through Res. Ex. N° 1 of the SMA, dated February 17, 2016 notified on February 23, 2016, the SMA formulated 8 charges against the company due to alleged breaches of certain Environmental Qualification Resolutions for the Nueva Aldea Plant. The 8 charges were qualified by the SMA as follows: 7 severe and 1 minor.

On March 15, 2016, the company submitted - within the established term - a compliance program which contains 30 actions and goals, related to each one of the 8 alleged infringements. On July 15, 2016, the Exempted Resolution No. 11 of the SMA was notified, which approved the compliance program and suspended the punitive proceedings. If the program is satisfactorily implemented, it would be possible to conclude the proceedings without applying any sanctions.

On August 3, 2016, third-party complainants in the administrative proceeding filed a complaint appeal against Exempted Resolution No. 11 issued by the SMA, which approved the compliance program. On December 24, 2016, the Third Environmental Court rejected such complaint filed against Ex. Res. No. 11 SMA, which approved the compliance program. The petitioners did not file a cassation remedy.

On October 31, 2017, a final report was submitted regarding the Compliance Program, which evidenced the complete and comprehensive performance of all actions and measures envisaged in said program. The SMA must issue its opinion regarding the satisfactory performance of the Compliance Program.

5. Through Exempted Resolution No. 1/File F-020-2016, dated May 6, 2016, the SMA formulated four charges against the company due to certain alleged breaches of the Environmental Qualification Resolutions of the Licancel Plant. The SMA classified the four charges as follows: 1 severe and 3 minor.

Regarding the 4 charges pressed by the Superintendence of the Environment through Exempted Resolution No. 1/Case File F-020-2016, dated May 6, 2016, against the Company for alleged infringements to the Environmental Qualification Resolutions of the Licancel Plant, we can inform the following:

On February 1, 2017, the Environment Superintendent issued Exempted Resolution No. 71, imposing a fine against the Company for the amount of 239 Annual Tax Units (UTA) (equivalent to ThU.S.$ 219, as of December 31, 2017).

On February 13, 2017, the Company filed a motion for reconsideration, requesting the annulment of the fine or substantially decreasing it.

On August 7, 2017, a ruling was issued to resolve the reconsideration appeal, partially upholding the Company’s request regarding Charge No. 2, thus reducing the portion of the fine that corresponds to this charge, from 234 UTA to 177 UTA (equivalent to ThU.S.$215, as of December 31, 2017).

Additionally, regarding the total amount of the fine imposed for Charges Nos. 1, 2 and 3 (No. 4 had been rendered ineffective previously), the 25% reduction benefit was granted as a result of paying within the first 5 business days, and the total sum amounted to 136.5 UTA (equivalent to ThU.S.$125 as of December 31, 2017). Case closed.

6. Through Exempted Resolution No. 1/File F-031-2016, dated September 15, 2016, the SMA formulated three charges against the company due to certain alleged breaches of certain Environmental Qualification Resolutions of the Constitución Plant, and an alleged contravention of Law No. 19,300 resulting from a purported circumvention of the Environmental Assessment System. The SMA classified the three charges as follows: 1 severe and 2 minor.

On October 17, 2016, the company filed a Compliance Program containing 7 actions and objectives. On January 3, 2017, the SMA served its resolution approving the compliance program submitted by the Company. If the compliance program is executed satisfactorily, the proceedings would conclude without the application of any sanctions.

The final report regarding the Compliance Program was submitted on October 2, 2017, and further supplemented on December 11, 2017, evidencing the complete and comprehensive performance of all the actions and measures envisaged in said program. The SMA must issue its opinion regarding the satisfactory performance of the Compliance Program.

Since the Company’s position is grounded in solid legal arguments, there is a reasonable margin for obtaining a favorable result for the Company and therefore, as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

Arauco Argentina S.A.

1. On December 14, 2007 the Federal Administration of Internal Revenue (Administración Federal de Ingresos Públicos) (“AFIP”) requested a determination, challenging the deductibility, as against Income Tax, of certain expenses, interests and exchange differences generated by Private Negotiable Obligations issued by the Company in 2001 and cancelled in 2007, for an amount of US$ 250,000,000.

This determination reached $417,908,207 Argentine Pesos (equivalent to ThU.S.$22,409 as of December 31, 2017) for principal, compensatory interest and fines.

On February 11, 2008, the Company appealed before the National Tax Court (Tribunal Fiscal de la Nación) (“TFN”), which upheld the State’s determination on February 2010. The Company appealed this decision before the National Chamber of Appeals for Federal Administrative Disputes.

Likewise, the Company requested an interim measure of relief before the Chamber of Appeals, so that the Chamber may order the suspension of the determination’s enforceability while the final judgment is pending. On May 13, 2010, Chamber I of the National Chamber of Appeals for Federal Administrative Disputes approved the request, subject to the pledge of collateral, which collateral was furnished by the Company by means of Insurance Policy No. 86058, issued by Zurich Argentina Cia. de Seguros S.A. for $633,616,741 Argentine Pesos (equivalent to ThU.S.$ 33,976 as of December 31, 2017).

The judgment of the Chamber of Appeals, issued in December 2012, was contrary to the company’s interests. The Company filed an Ordinary Appeal before the Supreme Court of Justice, which was authorized by the Chamber of Appeals, and an Extraordinary Appeal, which was duly noted by the Chamber for the relevant procedural phase.

During this entire process, the Company, in consultation with its external legal advisors maintained their opinion that the Company had behaved within the limits of the law in its deduction of the interests, expenses and exchange differences that was challenged by the State, and that there were good chances that this determination issued by the AFIP would be rendered without effect.

On July 22, 2016, Congress passed law No. 27,260, whose Title II, Book II establishes an Exceptional Regularization Regime for Tax, Social Security and Customs Obligations, for obligations that have been the subject matter of judicial proceedings (henceforth, the “Regularization Regime”).

The introduction of the Regularization Regime entails an exemption from the applicable fines as well as a portion of the interests. In order to enjoy these benefits, the taxpayer must unconditionally accept its counterparty’s claim in relation to the regularized obligations, as well as desist from and withdraw any action and right, including restitution actions, bearing the expense of litigation costs and expenses.

The legal counselors that have been intervening in the different stages of litigation have highlighted the very important economic advantages offered by the Regularization Regime in light of the contingency inherent to any judicial case.

On September 7, 2016, the Company materialized its application to the Regularization Regime before the AFIP, in connection to the obligations claimed in consideration to the adjustment conducted by the State regarding the Income Tax Statements filed between the years 2001 and 2004 and reported this situation to the Nation’s Supreme Court, consequently abandoning the Ordinary Appeal that had been promptly filed.

As of this date, the updated amount for the contingency amounted to approximately $891,758,132 Argentine Pesos (equal to ThU.S.$47,818 as of December 31, 2017), corresponding to principal, interest and fines. The Company decided to pay in cash, and the balance that was finally paid amounted to $248,503,504 Argentine Pesos (equal to ThU.S.$ 13,626 as of December 31, 2017). Additionally, the Company shall assume the payment of all litigation costs and trial expenses, the sum of which was undetermined as of the date of these financial statements. On November 1, 2016, the Nation’s Supreme Court of Justice declared the above mentioned remedy’s abandonment and returned the file to the court of origin. On November 30, 2016, the First Chamber of the National Appeals Court declared that the case file as returned. On April 18, 2017, Chamber I of the National Chamber declared that the Company had abandoned its actions and rights, including its repetition rights, thus condoning the fine and the corresponding interests. Additionally, it ordered the deferral of the fees regulation until payment of the state attorneys has been decided before the lower court, ordering the reimbursement of the Surety Insurance. The contingency insurance policy has been redeemed and returned to the insurance company.

2. Pursuant to law No. 25,080, the former Secretary of Agriculture, Livestock, Fishing and Foodstuffs, the enforcement agency referred to in the law approved, by Res. No. 952/2000, the forestry and industrial-forestry projects submitted by Arauco Argentina S.A. In the context of these projects, the Company afforested: 1) 4,777 hectares during 2000, in observance of its committed yearly plan; and 2) 23,012 hectares between 2000 and 2006 as a part of the multi-year afforestation plan. Likewise, a sawmill was built with installed capacity to produce 250,000 m3 of sawn timber per year.

On January 11, 2001, Arauco Argentina S.A. submitted an expansion for the approved industrial-forestry project. The expansion was approved via Res. No. 84/03 issued by the former Secretary of Agriculture, Livestock, Fishing and Foodstuffs. In accordance with the assumed obligations, the Company built a MDF board (panels) plant and afforested 8,089 hectares between 2001 and 2006.

Additionally, the Company filed yearly forestry plans between years 2007 and 2015 for its local operations in the Provinces of Misiones and Buenos Aires.

In March, 2005, Note No. 145/05 of the Undersecretary of Agriculture, Livestock and Afforestation suspended the benefit that exempted Arauco Argentina S.A. from paying export duties under Law No. 25,080. This measure is currently under discussion by the Company. On November 8, 2006, the V Chamber of the National Appeals Court for Adversarial Administrative and Federal Matters issued a ruling ordering Arauco Argentina S.A. to continue to enjoy an exemption from paying the exportation duties, in the same manner and scope it had prior to the suspension ordered by Note No. 145/05, if the clearance of merchandise is performed pursuant to the guarantee regime established in article 453, subsection a) of the Customs Code, for the exempted tax obligation. The judicial measure became effective beginning on March of 2007 by collateralization through the granting of bond (caución) policies for each shipment permits exempted from payment of export duty. The company maintains an assignment of funds equivalent to $437,149,340 Argentine Pesos (ThU.S.$ 23,440 as of December 31, 2017) for guaranteed export duties, which appears under not current provisions. Additionally, the Company filed a restitution claim for a total amount of US$6,555,207, plus interests accrued from the service of the claim, corresponding to export duties between March 2005 and March 2007, as a result of the application of Note 145/05 issued by the Undersecretary of Agriculture, Livestock and Afforestation. Both the underlying issue and the restitution claim have yet to be resolved.

On the other hand, in April 2016, the Secretary of Agriculture, Livestock and Fishing issued Resolution No.154 – E/2016, that requires that the holders of enterprises that have received the fiscal benefits envisaged by Law No. 25,080, establish collateral to cover a third of the duration of the project, with a minimum term of five years. During May of 2017, the Company modified the duly established collateral in accordance to the terms of said Resolution, for which reason the security was ultimately established at an amount of $276,508,024 (ThU.S.$14,827 as of December 31, 2017).

Arauco Argentina S.A. believes that it has complied with all of the obligations imposed upon it by the system set forth under Law No. 25,080.

Arauco do Brasil S.A.

On November 8, 2012, the Brazilian tax authorities issued an Infringement Notice against one of our Brazilian subsidiaries, Arauco do Brasil S.A., for allegedly unpaid taxed owed by said company during the period from 2006 to 2010. Specifically, the tax authorities (i) objected to the deductibility of certain payments made, and expenses incurred (including the amortization of premiums, interest and litigation costs) by Arauco do Brasil between 2005 and 2010, and, (ii) argued that Arauco do Brasil made certain insufficient payments regarding the Brazilian Corporate Tax (“IRPJ”) and the Corporate Contribution over Net Profits (“CSLL”) during 2010.

On July 20, 2015, Arauco do Brasil was notified of the first-level administrative ruling which partially upheld the Infringement, at the estimated amount of R$164,159,000 (ThU.S.$49,572 as of December 31, 2017). Against this ruling, a Voluntary Appeal was filed seeking to revoke the Infringement Notice before the Brazilian Administrative Tax Council (Conselho Administrativo de Recursos Fiscais de Brasil or “CARF”), which is the second administrative level. The CARF’s decision was issued on May 16, 2017, and took into consideration certain arguments presented by the Company regarding the agios, but preserving other charges. Administratively, it is possible that the parties can file a Special Remedy. If the current scenario remains in place, it is estimated that the claim will amount to R$57,278,771 (ThU.S.$17,297 as of December 31, 2017), plus correction increments.

The company believes that its challenge against the Infringement Notice is based on sound legal grounds and that a reasonable possibility exists that this matter will be resolved in favor of the company. Otherwise, as the next step, the Company will discuss the Infringement Notice before the Brazilian Justice Courts.

Forestal Arauco S.A.

1. Maquinarias y Equipos Klenner Limitada filed a civil damages claim before the First Civil Court of Valdivia, Case File number C-375-2015, against Forestal Arauco S.A. The claim seeks compensation for alleged damages brought as a result of the termination of a service provision contract that took place on February 9, 2010. The plaintiff valued the damages in the amount of $4,203,216,164 (equivalent to ThU.S.$ 6,837, as of December 31, 2017).

On November 14, 2016, the lower court issued a ruling partially upholding the claim, convicting Forestal Arauco S.A. to pay the sum of $115,026,673 (equivalent to ThU.S.$ 187 as of December 31, 2017) as general damage, and the sum of $607,849,413 (equivalent to ThU.S.$ 989 as of December 31, 2017) for loss profit, rejecting the claim for alleged moral damage, all without ordering the payment of litigation expenses.

Forestal Arauco S.A. challenged the ruling filing a cassation remedy based on procedural violations as well as an appeal. The plaintiff also challenged the ruling through an appeal. On August 14, 2017, the Court of Appeals decided to only uphold the appeal filed by Forestal Arauco S.A., dismissing the claim in its entirety.

On September 1, 2017, the plaintiff challenged the decision rendered by the Court of Appeals, filing a formal cassation appeal and a cassation appeal on the merits before the Supreme Court. Proceedings pending.

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company and therefore, as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

2. On April 28, 2015, the company was notified of and answered the action for recovery submitted in ordinary proceedings by Mr. Rodrigo Huanquimilla Arcos and Mr. Mario Andrades Rojas, attorneys at law, on behalf of 24 members of the Arcos succession, who claiming to be owners of the estate that they identify as Hacienda Quivolgo, of 5,202 hectares, request that Forestal Celco S.A., currently Forestal Arauco S.A., be sentenced to return the above mentioned real property plus civil and natural fruits or revenues as well as any estates adhered to it, along with any damages that the real property may have suffered, with litigation costs. The company proceeded to answer the claim requesting that it be completely rejected, arguing that Forestal Celco S.A., currently Forestal Arauco S.A., is the sole and legitimate owner of the real property.

The Court ordered that this trial be joined with those entertained under Case File C-54-2015, suspending the proceeding and ordering the parties to appoint a joint representative to act on behalf of both parties. The attorneys for both claimant parties conferred reciprocal powers to each other, and thus the Court deemed they had fulfilled the legal requirement.

On December 9, 2016, the Court summoned the parties for the issuance of the ruling. On February 24, 2017, the first instance final ruling was notified, which ruling dismissed the claim in its entirety, and imposed the payment of court costs. On March 8, 2017, the claimant appealed against the first instance decision. Currently, the case is pending before the Court of Appeals, with the decree declaring that the case is ready to be heard by the Court being issued on April 12. Pending (Court of Appeals of Talca Case File No. 949-2017).

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company and therefore, as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

3. On April 6, 2015, the company was notified through a rogatory letter regarding the claim submitted by Mr. Gustavo Andrés Ochagavía Urrutia, attorney at law, acting on behalf of 23 members of the Arcos succession, who claim to be the owners of the estate that they identify as Hacienda Quivolgo, of 5,202 hectares, requesting that Forestal Celco S.A., currently Forestal Arauco S.A., be ordered to return the above mentioned real property plus civil and natural fruits or revenues as well as any estates adhered to it, along with any damages that the real property may have suffered, with litigation costs. They base their claim in that Forestal Celco S.A., currently Forestal Arauco S.A., is allegedly in possession but does not own the real property in question. On April 28, 2014, the company proceeded to answer the claim requesting that it be completely rejected, arguing that Forestal Celco S.A., currently Forestal Arauco S.A., is the sole and legitimate owner of the real property.

On January 8, 2016, the defendant requested a consolidation of the proceedings with Case file 334-2014, as well as the suspension of the proceedings until this request is decided upon. The Court ordered this case file to be joined with the proceedings of case file No. C-334-2014 of the Civil Court of Constitución.

On February 24, 2017, the final ruling of the lower court was notified, completely dismissing the claim, with litigation costs.

On March 8, 2017, the plaintiff filed an appeal against the lower court final ruling. Currently, the case is pending before the Court of Appeals, with the decree declaring that the case is ready to be heard by the Court being issued on April 12. Pending (Court of Appeals of Talca Case File No. 949-2017).

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company and therefore, as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

4. On August 24, 2017, the company was notified of a civil claim for recovery in ordinary proceedings, filed by Mrs. Carmen Muñoz Domínguez on behalf of Forestal Ezrece S.A. The plaintiff argues that its client would be the rightful owner – as a result of an assignment and sale – of 87.5% of the hereditary rights in the rural real estate property called “Pino Huacho,” located in the boroughs of Los Alamos and of Cañete, province of Lebu, Eighth Region, for a surface area amounting to 5,144.22 hectares, which actions would be under the possession of Forestal Arauco S.A. The claimant has requested the court to order Forestal Arauco S.A. to be sentenced to restitute these actions and rights. Forestal Arauco S.A. answered the claim, requesting its total dismissal, with litigation costs, and further filing a counterclaim based on the ordinary prescription and, in lieu thereof, based on extraordinary prescription.

Currently, and having exhausted the period of discussion both for the main action as well as the counterclaim, the Court issued the corresponding evidence production resolution. Forestal Arauco S.A. lodged a reconsideration remedy with a subsidiary appeal. The Court partially upheld the reconsideration and overruled the subsidiary appeal. Forestal Arauco S.A. lodged an appeal for the review of facts, dated April 11th, which was upheld by the Court of Appeals of Concepcion, ordering the Court to grant the processing of the appeal.

Proceedings currently in the evidence production stage. Pending. (Case File C-109-2017 First Instance and Guarantee Court of Lebu).

Considering that the Company’s position is based on solid legal grounds, there is a reasonable margin for obtaining a favorable result for the Company and therefore, as of December 31, 2017, Arauco has not made any provision whatsoever in connection to this contingency.

At the end of each reporting period there are no other contingencies that might significantly affect the Company’s financial, position or results of operations.

Provisions recorded as of December 31, 2017 and December 31, 2016 are as follows:

	12-31-2017	12-31-2016
Classes of Provisions	ThU.S.$	ThU.S.$
Provisions, Current	2,728	842
Provisions for litigations	616	427
Other provisions	2,112	415
Provisions, non-Current	36,008	38,138
Provisions for litigations	12,556	14,696
Other provisions	23,452	23,442
Total Provisions	38,736	38,980

	12-31-2017
		Other
	Litigations (*)	Provisions  (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	15,123	23,857	38,980
Changes in provisions
Increase in existing provisions	1,314	16	1,330
Increase through business combinations	-	2,106	2,106
Used provisions	(1,578)	-	(1,578)
Increase (decrease) in foreign currency exchange	(1,493)	-	(1,493)
Other Increases (Decreases)	(193)	(416)	(609)
Total Changes	(1,950)	1,706	(244)
Closing balance	13,173	25,563	38,736

(*) The increase in legal claims is composed mainly of ThU.S.$908 and ThU.S.$375 Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits.

(**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the provision in Zona Franca Punta Pereira (Uruguay). The increase through business combination corresponds to the acquisition of Arauco Industrias de Paineis.

	12-31-2016
		Other
	Litigations (*)	Provisions (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	11,400	23,999	35,399
Changes in provisions
Increase in existing provisions	5,363	1	5,364
Used provisions	(998)	(39)	(1,037)
Increase (decrease) in foreign currency exchange	(609)	-	(609)
Other Increases (Decreases)	(33)	(104)	(137)
Total Changes	3,723	(142)	3,581
Closing balance	15,123	23,857	38,980

(*) The increase in legal claims is composed mainly of ThU.S.$ 863 and ThU.S.$ 2,255 (Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits, and ThU.S.$1,490 from Arauco Argentina in connection of fees in lawsuits.

(**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the ThU.S.$ 100 corresponding to Arauco Argentina.

	12-31-2015
		Other
	Litigations (*)	Provisions (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	16,038	51,026	67,064
Changes in provisions
Increase in existing provisions	2,555	1,429	3,984
Used provisions	(2,990)	-	(2,990)
Increase (decrease) in foreign currency exchange	(5,163)	-	(5,163)
Other Increases (Decreases)	960	(28,456)	(27,496)
Total Changes	(4,638)	(27,027)	(31,665)
Closing balance	11,400	23,999	35,399

(*)The increase in legal claims is composed mainly of ThU.S.$1,558 from Brazilian subsidiaries in connection with civil and labor lawsuits, being the latter the most important. In addition there are ThU.S.$840 from Arauco Argentina in connection with labor lawsuits.

(**)The increase of Other Provisions comprises mainly an increase of ThU.S.$1,429 from Arauco Argentina for export duties. While in the Other Increases (Decreases), line item, the reverse of Negative Equity to Arauco Forest Brasil over Novo Oeste by ThU.S.$ 25,290 and Forestal Cholguán over Sercor is reflected by ThU.S.$2,850.

Provisions for litigations are related to labor and tax claims whose payment period is uncertain. Other provisions mainly include the recognition of a liability related to investments in associates and joint ventures accounted under the equity method with net asset deficiency at the end of the reporting period.

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INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

Disclosure of Intangibles Assets [Abstract]

Disclosure of intangible assets [text block]

NOTE 19. INTANGIBLE ASSETS

	12-31-2017	12-31-2016
Classes of Intangible Assets, Net	ThU.S.$	ThU.S.$
Intangible assets, net	88,615	89,497
Computer software	26,747	26,370
Water rights	5,697	5,689
Customer	47,144	50,982
Other identifiable intangible assets	9,027	6,456
Classes of intangible Assets, Gross	173,426	159,025
Computer software	81,907	72,008
Water rights	5,697	5,689
Customer	72,685	71,275
Other identifiable intangible assets	13,137	10,053
Classes of accumulated amortization and impairment
Total accumulated amortization and impairment	(84,811)	(69,528)
Accumulated amortization and impairment, intangible assets	(84,811)	(69,528)
Computer software	(55,160)	(45,638)
Customer	(25,541)	(20,293)
Other identifiable intangible assets	(4,110)	(3,597)

Reconciliation of the carrying amount of intangible assets at the beginning and end of each reporting period balances

	12-31-2017
	Computer Software	Water Rights	Customer	Others	TOTAL
Reconciliation of intangible assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance	26,370	5,689	50,982	6,456	89,497
Changes
Additions	7,487	8	-	2,973	10,468
Additions through business combination	320	-	-	-	320
Disposals	(181)	-	-	-	(181)
Amortization	(8,122)	-	(4,797)	(408)	(13,327)
Increase (Decrease) related to foreign currency translation	873	-	959	(96)	1,736
Other Increases (Decreases)	-	-	-	102	102
Changes Total	377	8	(3,838)	2,571	(882)
Closing Balance	26,747	5,697	47,144	9,027	88,615

	12-31-2016
	Computer Software	Water Rights	Customer	Others	TOTAL
Reconciliation of intangible assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance	21,251	5,485	55,265	6,111	88,112
Changes
Additions	12,935	204	-	1,718	14,857
Disposals	(1)	-	-	-	(1)
Amortization	(8,368)	-	(4,770)	(1,414)	(14,552)
Increase (Decrease) related to foreign currency translation	178	-	487	41	706
Other Increases (Decreases)	375	-	-	-	375
Changes Total	5,119	204	(4,283)	345	1,385
Closing Balance	26,370	5,689	50,982	6,456	89,497

	Years of Useful life
	(Average)
Computer Software		5
Customer		15
Brands		7

The amortization of customer and computer software is presented in the Consolidated Statements of Profit or Loss under the “Administrative Expenses” line item.

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BIOLOGICAL ASSETS

12 Months Ended

Dec. 31, 2000

Disclosure Of Biological Assets [Abstract]

Disclosure of biological assets, agriculture produce at point of harvest and government grants related to biological assets [text block]

NOTE 20.  BIOLOGICAL ASSETS

Biological assets comprise forestry plantations, mainly radiata and taeda pine, and to a lesser extent eucalyptus. The plantations are located in Chile, Argentina, Brazil and Uruguay, with a total surface of 1.7 million hectares as of December 31, 2017 out of which 1 million hectares are used for forestry planting, 431 thousand hectares are native forest, 195 thousand hectares are used for other purposes and 99 thousand hectares not yet planted.

For the year ended December 31, 2017, the production volume of logs totaled 20.7 million m3 (18.7 million m3 as of December 31, 2016).

Measurements of fair value of Arauco’s biological assets are classified as Level 3, due to the fact that inputs are not observable. However, this information reflects the assumptions that market participants would use in pricing the asset, including assumptions about risk.

These unobservable inputs were developed using the best information available and includes internal data from Arauco. These unobservable inputs can be adjusted if the available information indicates that other market participants would use different information or there is something specific in Arauco that is not available to other market participants.

The main considerations in determining the fair value of biological assets include the following:

- Arauco uses discounted expected future cash flows of its forest plantations, which are based on a harvest projection date for all existing plantations.

- Current forestry plantations are projected based on a net volume that will not decrease, with a minimum growth equivalent to the current supply demand.

- Future plantations are not considered.

- The harvest of forestry plantations supplies raw materials for all other products that Arauco produces and trades. By directly controlling the development of forests that will be processed, Arauco ensures high quality timber for each of its products.

- Expected cash flows are determined in terms of harvest and expected sale of forestry products, associated with the demand from the Company’s own industrial centers and sales to third parties at market prices. Sales margin of the different products that are harvested in the forest is also considered in the valuation. The changes in the value of the plantations pursuant to the criteria defined above are accounted for in the results for the fiscal year, as established in IAS 41. These changes are presented in the Consolidated Statements of Profit or Loss under the line item Other income per function, which as of December 31, 2017 amounted to ThU.S.$83,031 (ThU.S.$ 208,562 as of December 31, 2016). The appraisal of biological assets resulted in a greater cost of the lumber sold in comparison to the real incurred cost, which is presented included in the cost of sales which as of December 31, 2017 amounted to ThU.S.$213,234 (ThU.S.$204,971 as of December 31, 2016). 

- Forestry plantations are harvested according to the needs of Arauco’s production plants.

- The discount rates used are 7.5% in Chile (8% at 2016), 8% Brazil and Uruguay, and 12% in Argentina.

- It is expected that prices of harvested timber are constant in real terms based on market prices.

- Cost expectations with respect to the lifetime of the forests are constant based on estimated costs included in the projections made by Arauco. 

- The average crop age by species and country is:

	Chile		Argentina		Brazil		Uruguay
Pine		24		15		15		-
Eucalyptus		12		10		7		10

The following table sets forth changes in fair value of biological assets considering variations in significant assumptions considered in calculating the fair value of the assets:

		ThU.S.$
Discount rate	0,5	(98,304)
	-0,5	103,444
Margins (%)	10	370,058
	-10	(370,058)

The adjustment to fair value of biological assets is recorded in the Consolidated Statements of Profit or Loss, under the line item Other Income or Other Expenses, depending on whether it corresponds to profits or losses.  

Forestry plantations classified as current Biological assets are those to be harvested and sold within twelve months after the reporting period.  

The Company has contracted fire insurance policies for its forestry plantatios, which in conjunction with the Company’s resources, allow risks to be minimized.

Detail of Biological Assets Pledged as Security   

As of December 31, 2017, there are no forestry plantations pledged as security.  

Detail of Biological Assets with Restricted Ownership  

As of the date of these consolidated financial statements, there are no biological assets with restricted ownership.  

No significant government grants have been received.  

Current and Non-Current Biological Assets  

As of the date of these consolidated financial statements, the Current and Non-current biological assets are as follows:  

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Current		307,796		306,117
Non-current		3,459,146		3,592,874
Total		3,766,942		3,898,991

Reconciliation of carrying amount of biological assets

	12-31-2017
Movement	ThU.S.$
Opening Balance	3,898,991
Changes in Biological Assets
Additions through acquisition and costs of new plantations	182,322
Increase due to non-cash capital distribution from Vale do Corisco S.A. (see Note 15)	127,927
Sales	(5,289)
Harvest	(341,108)
Gain (losses) arising from changes in fair value less costs to sale	83,031
Increases (decreases) in Foreign Currency Translation	(5,792)
Loss of forest due to fires	(173,139)
Other Increases (decreases)	(1)
Total Changes	(132,049)
Closing Balance	3,766,942

  

	12-31-2016
Movement	ThU.S.$
Opening Balance	3,826,597
Changes in Biological Assets
Additions through acquisition and costs of new plantations	137,439
Sales	(1,351)
Harvest	(326,494)
Gain (losses) arising from changes in fair value less costs to sale	208,562
Increases (decreases) in Foreign Currency Translation	69,068
Loss of forest due to fires	(15,193)
Other Increases (decreases)	363
Total Changes	72,394
Closing Balance	3,898,991

(*) On May 2017, Arauco’s associate Vale do Corisco S.A. performed a return of capital to its shareholders. This operation did not generate effects in the Consolidated Statements of Profit or Loss nor modified Arauco’s shareholding in Florestal Vale do Corisco S.A.

In January 2017, Arauco was affected by fires that consumed 72,564 hectares of forest plantations, recorded in the balance sheet in MU.S.$ 210, representing 5.6% of the value of Arauco’s forestry plantations.

The affected plantations have been managed by the company in order to minimize the damage caused by the fires. This management has allowed for the recovery of 17.6% of the afore mentioned amount of MU.S.$210. Additionally, the forest plantations affected by the fires were insured, with their corresponding deductibles and limitations. As a consequence of the above, the sum recovered from the insurance company amounted to MU.S$ 35..

As of the date of these consolidated financial statements, there are no committed disbursements related to the acquisition of biological assets..

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ENVIRONMENTAL MATTERS

12 Months Ended

Dec. 31, 2017

Environmental Matters [Abstract]

DisclosureForEnvironmentRelatedExpenseExplanatory [Text Block]

NOTE 21.  ENVIRONMENTAL MATTERS

Environment Management

For Arauco, sustainability means management strategy. This strategy incorporates values, commitments and standards, that together with the adoption of best practices as well as the use of the latest available technologies, seek to continuously improve the Company’s environmental management. It is the environmental department and each of its specialists that ensure these guidelines are met and are put in to practice in everyday company operations.   

All of Arauco’s production units have certified environmental management systems, which reinforce the Company’s commitment to environmental performance and ensure the traceability of all raw materials used.

Arauco uses several supplies in its productive processes such as wood, chemical products, and water, etc., which in turn produce liquid and gas emissions. As a way to make the Company’s environmental management more efficient, significant progress has been made to reduce consumption and emissions.

Environmental investments have been made related to the control of atmospheric emissions, process improvements, water and waste management, as well as effluent treatment, in order to improve the environmental performance of all of Arauco’s business units.  

These investments are reflected in the Consolidated Financial Statements as Properties, Plants and Equipment when they refer to disbursements in major works executed and are reflected in Expenses when they refer to improvements or management not directly associated with investment projects.

Detail information of disbursements related to the environment

As of December 31, 2017 and December 31, 2016 Arauco has made and / or has committed the following disbursements by major environmental projects:

		Disbursements undertaken 2017				Committed Disbursements
12-31-2017		State	Amount	Asset	Asset/expense	Amount	Estimated
Company	Name of project	of project	ThU.S.$	Expense	destination item	ThU.S.$	date
Arauco Do Brasil S.A.	Environmental improvement studies	In process	1,008	Assets	Property, plant and equipment	48	2018
Arauco Do Brasil S.A.	Environmental improvement studies	In process	1,058	Expense	Administration expenses	296	2018
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	5,811	Assets	Property, plant and equipment	4,068	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	17,435	Assets	Property, plant and equipment	20,694	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	Finished	10,326	Assets	Property, plant and equipment	-	-
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	47,512	Assets	Property, plant and equipment	17,837	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	26,578	Expense	Operating cost	6,214	2018
Arauco Argentina S.A.	Construction emisario	In process	2,312	Assets	Property, plant and equipment	797	2018
Arauco Argentina S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	139	Assets	Property, plant and equipment	28	2018
Arauco Argentina S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	19	Assets	Property, plant and equipment	5,921	2018
Maderas Arauco S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	432	Expense	Administration expenses	-	2018
Maderas Arauco S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	1,346	Expense	Operating cost	-	0
Maderas Arauco S.A.	Environmental improvement studies	In process	89	Assets	Property, plant and equipment	332	0
Forestal Arauco S.A.	Environmental improvement studies	In process	983	Expense	Administration expenses	1,165	2018
Forestal los Lagos S.A.	Environmental improvement studies	In process	229	Expense	Operating cost	290	2018
		TOTAL	115,277			57,690

		Disbursements undertaken 2016				Committed Disbursements
12-31-2016		State	Amount	Asset	Asset/expense	Amount	Estimated
Company	Name of project	of project	ThU.S.$	Expense	destination item	ThU.S.$	date
Arauco Do Brasil S.A.	Environmental improvement studies	In process	285	Assets	Property, plant and equipment	417	2017
Arauco Do Brasil S.A.	Environmental improvement studies	In process	385	Expense	Administration expenses	1,231	2017
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	1,585	Assets	Property, plant and equipment	1,396	2017
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	476	Assets	Property, plant and equipment	8,085	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	611	Assets	Property, plant and equipment	20,658	2017
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	Finished	1,271	Assets	Property, plant and equipment	-	-
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	1,218	Assets	Property, plant and equipment	14,736	2018
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	51,703	Assets	Property, plant and equipment	64,450	2017
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	26,990	Expense	Operating cost	4,180	2018
Celulosa Arauco Y Constitucion S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	Finished	144	Assets	Property, plant and equipment	-	-
Arauco Argentina S.A.	Construction emisario	In process	8	Assets	Property, plant and equipment	824	2017
Arauco Argentina S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	187	Assets	Property, plant and equipment	124	2017
Arauco Argentina S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	183	Assets	Property, plant and equipment	6,112	2017
Paneles Arauco S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	Finished	1,332	Expense	Operating cost	-	-
Paneles Arauco S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	Finished	465	Expense	Administration expenses	-	-
Paneles Arauco S.A.	Environmental improvement studies	In process	1,217	Assets	Property, plant and equipment	304	2017
Forestal Arauco S.A. (Ex-Forestal Celco S.A.)	Environmental improvement studies	In process	643	Expense	Administration expenses	946	2017
Forestal Los Lagos S.A.	Environmental improvement studies	In process	225	Expense	Operating cost	18	2017
		TOTAL	88,928			123,481

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NON-CURRENT ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2017

Disclosure Of Noncurrent Assets Held For Sale [Abstract]

Disclosure of non-current assets or disposal groups classified as held for sale [text block]

NOTE 22.  NON-CURRENT ASSETS HELD FOR SALE

Arauco decided to sell assets in previous years corresponding mainly to sawmills in Chile and remains committed to its sales plan.

The following table sets forth information on the main types of non-current assets held for sale:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Land		160		160
Buildings		1,122		1,122
Property, plant and equipment		2,225		1,777
Total		3,507		3,059

As of December 31, 2017, 2016 and 2015, there were no significant effects on results related to the sale of assets held for sale.

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FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Financials Instruments [Abstract]

Disclosure of financial instruments [text block]

NOTE 23. FINANCIAL INSTRUMENTS

23.1 Classification

Arauco's financial instruments as of December 31, 2017 and December 31, 2016, are displayed in the table below. Regarding those instruments valued at an amortized cost, as estimation of their fair value is displayed for informational purposes.

Financial Instruments	December 2017				December 2016
Thousands of dollars	Carrying amount		Fair Value		Carrying amount		Fair Value
Fair value through profit or loss (held for trading) (1)		74,849		74,849		198,582		198,582
Derivatives		1,679		1,679		3,166		3,166
Mutual funds (2)		73,170		73,170		195,416		195,416
Loans and Accounts Receivables		1,351,712		1,351,712		1,126,182		1,126,182
Cash and cash equivalents (amortized cost)		516,716		516,716		396,837		396,837
Cash		209,185		209,185		149,446		149,446
Time deposits		292,105		292,105		247,391		247,391
Agreements		15,426		15,426		-		-
Accounts Receivable (net)		830,452		830,452		715,883		715,883
Trade and other receivables		709,983		709,983		600,589		600,589
Lease receivable		13,106		13,106		764		764
Other receivables		107,363		107,363		114,530		114,530
Accounts receivable due from related parties		4,544		4,544		13,462		13,462
Other Financial Assets (5)		58,425		58,425		10,903		10,903
Financial liabilities at amortized cost (3)		5,002,072		5,198,654		5,022,725		5,158,789
Bonds issued denominated in U.S. Dollars		2,057,746		2,135,893		2,321,980		2,480,063
Bonds issued denominated in U.F. (4)		1,244,939		1,333,087		1,130,679		1,078,934
Bank Loans in U.S. Dollars		835,099		870,399		891,338		926,070
Bank borrowing denominated in U.S. Dollars		23,358		23,358		23,020		23,020
Financial leasing		112,376		107,363		113,986		108,980
Trade and other payables		717,346		717,346		537,891		537,891
Accounts payable to related parties		11,208		11,208		3,831		3,831
Financial liabilities at fair value through profit or loss		137		137		336		336
Forward		137		137		336		336
Hedging Liabilities		5,256		5,256		87,027		87,027

(1)       Assets measured at fair value through profit or loss other than mutual funds classified as cash equivalents, are presented in the line item “other financial assets” in the consolidated statements of financial position.

(2)       Although mutual funds are measured at fair value through profit or loss for purposes of the consolidated statements of financial position mutual funds are classified as “Cash and cash equivalents” due to the are highly liquid short-term investment.

(3)       Financial liabilities measured at amortized cost, other than “Trade and other payables” and derivatives are presented in the consolidated statements of financial position in the line item “Other financial liabilities” as current and non-current based on their maturity.

(4)       The Unidad de Fomento (“U.F.”) is a unit of account that is linked to, and is adjusted daily to reflect changes in the Chilean consumer price index.

(5)       Includes guarantee fund for derivatives which correspond to the collateral under swap agreements.

23.2 Fair Value Hierarchy of Financial Assets and Liabilities

The assets and liabilities measured at fair value in the consolidated statements of financial position as of December 31, 2017, have been measured based on the valuation methodologies provided in IAS 39. The methodologies applied for each financial instrument are classified according to their hierarchy as follows:

- Level 1: Securities or quoted prices in active markets for identical assets and liabilities

- Level 2: Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

- Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

	Fair Value		Fair value
	December 2017		Level 1		Level 2		Level 3
Financial Instruments	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Fair value through profit or loss (held for trading)
Derivatives		1,679				1,679
Mutual Funds		73,170		73,170
Other financial assets		58,425		2,654		55,771
Financial liabilities measured at amortized cost
Bonds issued denominated in U.S. Dollars		2,135,893		2,135,893
Bonds issued denominated in U.F. (4)		1,333,087		1,333,087
Bank loans in U.S. Dollars		870,399				870,399
Bank borrowing denominated in U.S. Dollars		23,358				23,358
Financial leasing		107,363				107,363
Financial liabilities at fair value through profit or loss		137				137
Hedging liabilities		5,256				5,256

23.3 Explanation of the valuation of Financial Instruments.

Cash and cash equivalent and accounts receivable

The carrying amount of accounts receivable, cash and cash equivalents (including mutual funds), and other financial assets and liabilities approximate their fair value due to the short-term nature of such instruments.

Derivative financial instruments

Interest rate and currency swaps are valued under the cash flow discount method at the rate applicable according to the transaction’s risk, using an internal methodology based on the information obtained from Bloomberg. In this particular case, given that cross currency swaps correspond to future flows in UF and future flows in Dollars, Arauco calculates the current value of such flows by using 2 discount curves: the UF zero coupon curve and the Dollar zero coupon.

The fair value of the interest rate swap contracts is calculated by reference to the rate differential between the agreed upon rate and the market rate as of the end date of these financial statements.

The fair value of the currency forward contracts is calculated by reference to the current forward exchange rates of contracts with similar maturity profiles.

Financial Liabilities

The fair value of bonds issued was determined with reference to quoted market prices as they have standard terms and conditions.

The fair value of bank borrowings was determined based on discounted cash flow analysis, applying the corresponding discount yield curves to the remaining term to maturity.

Disclosures of the fair value of financial liabilities at amortized cost are determined via the use of discounted cash flows, calculated over variables of the observable markets as of the date of informing the consolidated financial statements, and correspond to Level 2 of the fair value hierarchy.

The following table sets forth a reconciliation between the financial liabilities and the consolidated statements of financial position as of December 31, 2017 and 2016:

	December 2017
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Other current financial liabilities, Total		From 13 months to 5 years		More than 5 years		Other non- current financial liabilities, Total		Total
Bonds obligations		28,013		34,981		62,994		1,054,926		2,184,765		3,239,691		3,302,685
Bank borrowing		110,700		282,172		392,872		327,424		138,161		465,585		858,457
Financial Leasing		9,928		34,413		44,341		68,035		-		68,035		112,376
Swap and Forward		137		-		137		5,256		-		5,256		5,393
Other Financial Liabilities, Total (a)		148,778		351,566		500,344		1,455,641		2,322,926		3,778,567		4,278,911

	December 2017
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Total Current		From 13 months to 5 years		More than 5 years		Total non- current		Total
Trades and other payables		717,342		4		717,346		-		-		-		717,346
Accounts payable to related companies		11,208		-		11,208		-		-		-		11,208
Accounts Payable, Total (b)		728,550		4		728,554		-		-		-		728,554
Financial Liabilities, Total (a) + (b)		877,328		351,570		1,228,898		1,455,641		2,322,926		3,778,567		5,007,465

	December 2016
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Other current financial liabilities, Total		From 13 months to 5 years		More than 5 years		Other non- current financial liabilities, Total		Total
Bonds obligations		51,874		409,102		460,976		1,233,603		1,758,079		2,991,682		3,452,658
Bank borrowings		134,140		61,483		195,623		626,384		92,351		718,735		914,358
Financial leasing		9,534		30,866		40,400		73,586		-		73,586		113,986
Swap and Forward		453		-		453		86,911		-		86,911		87,364
Other Financial Liabilities, Total (a)		196,001		501,451		697,452		2,020,484		1,850,430		3,870,914		4,568,366

	December 2016
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Total Current		From 13 months to 5 years		More than 5 years		Total non- current		Total
Trades and other payables		511,371		26,520		537,891		-		-		-		537,891
Accounts payable to related companies		3,831		-		3,831		-		-		-		3,831
Accounts Payable, Total (b)		515,202		26,520		541,722		-		-		-		541,722
Financial Liabilities, Total (a) + (b)		711,203		527,971		1,239,174		2,020,484		1,850,430		3,870,914		5,110,088

23.4 Derivative Instruments

Hedging instruments recorded as of December 31, 2017 and 2016 are cash flow hedges. Arauco uses derivatives for hedging purposes, such as cross currency swaps, currency and commodity forwards, interest rate swaps, and options.  Depending on the fair value of each instrument, the position could be either an asset or a liability, and they are listed in the Statements of Financial Position under Other Non-Current Financial Assets or Other Non-current Financial Liabilities, respectively.  The effects for the period are presented under Equity as Other Comprehensive Income or the Statements of Comprehensive Income as Finance Income or Finance Costs, net of differences in exchange rate of the hedged items and the deferred tax.

A summary of the derivative financial instruments included in the Statements of Financial Position as of the end of this period, is presented below:

Financial Instruments	2017 Fair Value ThU.S.$		2016 Fair Value ThU.S.$
Assets at fair value through profit or loss (held for trading)		1,679		3,166
Derivative-Uruguay (1)		1,672		3,159
Forward-Colombia		7		7
Hedging Assets		55,771		8,658
Derivative-Uruguay (1)		3,037		2,029
Cross Currency Swaps		52,734		6,629
Financial liabilities at fair value through profit or loss		(137)		(336)
Forward-Colombia		(137)		(267)
Derivative-Uruguay (1)		-		(69)
Hedging Liabilities		(5,256)		(87,027)
Cross Currency Swaps		(5,248)		(86,895)
Derivative-Uruguay (1)		(8)		(132)

(1) Includes Swap and Forward from Uruguay tables.

23.4.1. Chile

Cross currency swaps

Arauco is exposed to the risk of variability in cash flows from changes in foreign exchange rates and inflation, mainly due to balances of assets denominated in U.S. Dollars and other currencies differente from the functional currency, which causes mismatches that could affect operating results.

Below are the cross currency swaps that Arauco has as of December 31, 2017 and 2016 to cover the exposure to the exchange rate risk generated from bonds denominated in U.F.:

Bond	Institution	Amount U.S.$	Amount U.F.	Starting date	Ending date	Market Value ThU.S.$ 2017	Market Value ThU.S. 2016
F	Deutsche - U.K.	43,618,307	1,000,000	10-30-2011	10-30-2021	213	(4,703)
F	JP Morgan - N.A.	43,618,307	1,000,000	10-30-2011	10-30-2021	306	(4,584)
F	Deutsche - U.K.	37,977,065	1,000,000	04-30-2014	04-30-2019	6,599	1,782
F	BBVA – Chile	38,426,435	1,000,000	10-30-2014	04-30-2023	5,252	558
F	BBVA – Chile	38,378,440	1,000,000	10-30-2014	04-30-2023	5,550	908
F	Santander - Chile	37,977,065	1,000,000	10-30-2014	04-30-2023	6,051	1,427
F	BCI – Chile	37,621,562	1,000,000	10-30-2014	04-30-2023	6,549	1,954
J	Corpbanca - Chile	42,864,859	1,000,000	09-01-2010	09-01-2020	(292)	(5,505)
J	BBVA – Chile	42,864,859	1,000,000	09-01-2010	09-01-2020	(292)	(5,505)
J	Deutsche - U.K.	42,864,859	1,000,000	09-01-2010	09-01-2020	(356)	(5,590)
J	Santander – Spain	42,873,112	1,000,000	09-01-2010	09-01-2020	(263)	(5,463)
J	BBVA – Chile	42,864,257	1,000,000	09-01-2010	09-01-2020	(152)	(5,318)
P	Corpbanca - Chile	46,474,122	1,000,000	05-15-2012	11-15-2021	(1,775)	(6,355)
P	JP Morgan - N.A.	47,163,640	1,000,000	11-15-2012	11-15-2021	(1,753)	(6,157)
P	BBVA – Chile	42,412,852	1,000,000	11-15-2013	11-15-2023	1,854	(2,548)
P	Santander - Chile	41,752,718	1,000,000	11-15-2013	11-15-2023	2,777	(1,591)
P	Deutsche - U.K.	41,752,718	1,000,000	11-15-2013	11-15-2023	2,800	(1,564)
R	Santander - Chile	128,611,183	3,000,000	10-01-2014	04-01-2024	(365)	(13,815)
R	JP Morgan - U.K.	43,185,224	1,000,000	10-01-2014	04-01-2024	329	(4,039)
R	Corpbanca - Chile	43,277,070	1,000,000	10-01-2014	04-01-2024	327	(4,026)
Q	BCI - Chile	43,185,224	1,000,000	10-01-2014	04-01-2021	1,022	(3,524)
Q	BCI - Chile	43,196,695	1,000,000	10-01-2014	04-01-2021	1,070	(3,443)
S	Santander - Chile	201,340,031	5,000,000	11-15-2016	11-15-2026	12,035	(3,165)
						47,486	(80,266)

Arauco needs to minimize the risk of the exchange rate, as it holds debt in pesos, adjustable to reflect inflation. The objective of this position in the swap is to eliminate the uncertainty of the exchange rate, exchanging the flows derived from obligations expressed in adjustable pesos of the bonds described above, with flows in U.S. dollars (Arauco's functional currency), at a fixed and determined exchange rate as of the agreement's execution date.

Through an effectiveness test, and pursuant to IAS 39, we were able to validate that the aforementioned hedging instruments are highly effective within an acceptable range for Arauco, for the purposes of eliminating the uncertainty of the exchange rate in the commitments derived from the hedged object.

23.4.2. Colombia

Forward contracts that are in force and effect, executed by Arauco Colombia as of December 31, 2017 and 2016, are detailed in the following table:

Exchange rate	Institution	Amount ThU.S.$		Starting date	Ending date	December 2017 Market Value ThU.S.$
USDCOP	BBVA Colombia		6,000	10-11-2017	01-10-2018		(1)
USDCOP	Corpbanca Colombia		8,000	11-14-2017	02-13-2018		(136)
USDCOP	Corpbanca Colombia		2,100	12-21-2017	03-12-2018		7
							(130)

Exchange rate	Institution	Amount ThU.S.$		Starting date	Ending date	December 2016 Market Value ThU.S.$
USDCOP	BBVA Colombia		5,000	10-28-2016	01-11-2017		7
USDCOP	BBVA Colombia		4,000	11-18-2016	02-09-2017		(255)
USDCOP	BBVA Colombia		7,000	12-13-2016	03-10-2017		(12)
							(260)

23.4.3. Uruguay

Forward

As of December 31, 2017 and 2016, Arauco Uruguay maintains the following forward contracts in force and effect for the purposes of ensuring an exchange rate for sale of dollars:

Exchange rate	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
UYUUSD	Banco Santander Uy		24,000		1,213
UYUUSD	HSBC Uruguay		9,000		543
					1,756

Exchange rate	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
UYUUSD	Banco Santander Uy		16,600		1,633
UYUUSD	Citibank U.K.		3,200		150
UYUUSD	HSBC Uruguay		10,750		1,256
					3,039

Arauco Uruguay's profits and losses also face exposure to the price variation of certain fuels, as occurs with Fuel Oil N°6, which is used during the cellulose manufacturing process. In order to minimize this risk, the volatility of future flows associated to the purchase of Fuel Oil No. 6 for years 2017, 2018 and part of 2019 has been limited, through forwards of this commodity. The agreements that are in force and effect as of December 31, 2017 and 2016, are detailed below:

Commodity	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
Fuel Oil N°6	JPMorgan Chase Bank, N.A.		4,760		1,372
Fuel Oil N°6	DNB Bank ASA		4,002		732
Fuel Oil N°6	Citibank U.K.		761		112
					2,216

Commodity	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
Fuel Oil N°6	JPMorgan Chase Bank, N.A.		5,508		1,059
Fuel Oil N°6	DNB Bank ASA		2,661		156
Fuel Oil N°6	Citibank U.K.		378		83
					1,298

Interest Rate Swap

In addition, Arauco Uruguay's maintains an Interest Rate Swap in force and effect, a derivative instrument which purpose is to set the interest rate of a variable rate debt in the same currency (USD). The valuation off this instrument as of December 31, 2017, is shown below:

Exchange rate	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
USD	DNB Bank ASA		50,638		729

Exchange rate	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
USD	DNB Bank ASA		59,077		650

23.5 Loans and Receivables

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. In the consolidated statements of financial position, they are included in line items “Cash and cash equivalents” (certain components of cash and cash equivalents), “Trade and Other Current/Non-Current Receivables” and “Accounts receivable due from related parties”.

Loans and receivables are measured at amortized cost using the effective interest method and are tested for impairment. Financial assets that are classified as loans and receivables are: cash and cash-equivalents, time deposits, repurchase agreements, trade and other current/non-current receivables, and accounts receivable due from related parties.

As of December 31, 2017 and 2016, there are provisions for impairment for ThU.S.$ 14,501 and ThU.S.$ 16,644, respectively.

	December 2017	December 2016
	ThU.S.$	ThU.S.$
Loans and Accounts Receivables	1,351,712	1,126,182
Cash and cash equivalents	516,716	396,837
Cash	209,185	149,446
Time Deposits	292,105	247,391
Agreements	15,426	-
Trade and other receivables (net)	834,996	729,345
Trade and other receivables	709,983	600,589
Lease receivable	13,106	764
Other receivables	107,363	114,530
Accounts receivable due from related parties	4,544	13,462

23.5.1. Cash and Cash Equivalents

Includes cash on hand, bank checking account balances and time deposits and other short term highly liquid investments with an original maturity of three months or less. They are short-term, highly liquid investments that are readily convertible to known amounts of cash, and which are subject to an insignificant risk of changes in value.

The composition of cash and cash equivalents (including the balance of mutual funds displayed in this note as valuation, instruments at fair value with profit or loss) at December 31, 2017 and December 31, 2016, classified by origin coins is as follow:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Cash and Cash Equivalents		589,886		592,253
U.S. Dollars		501,352		524,426
Euro		4,306		2,357
Other currencies		61,037		55,069
Chilean pesos		23,191		10,401

23.5.2 Time Deposits and Repurchase Agreements: The investment objective of time deposits and repurchase agreements is to maximize in the short-term the amounts of cash surpluses. These instruments are authorized by Arauco’s Investment Policy, which allows investing in fixed income securities. These instruments have a maturity of less than three months from the date of acquisition.

23.5.3 Trade and Other Receivables: These represent enforceable rights for Arauco resulting from the normal course of the business.

23.5.4 Other Receivables: These correspond to receivables from sales, services or loans that are not considered within the normal course of the business.

The provision for doubtful accounts is presented as a deduction of trade and other receivables. The provision for doubtful accounts is established based on an analysis of the age of the portfolio and considering the insurance coverage on accounts receivable. Other conditions are assessed for example when there is objective evidence that Arauco will not receive payments under the original sale terms and when the customer is a party to a bankruptcy court agreement or cessation of payments, and is written-off when Arauco has exhausted all levels of recovery of the receivable in a reasonable time.

23.5.5 Accounts receivable due from related parties: Represent enforceable rights for Arauco resulting from the normal course of business, calling normal to the line of business, activity or purpose of exploitation and financing, and which Arauco owns a non-controlling ownership of the counterparty.

The following table sets forth trade and other current/non-current receivables classified by currencies as of December 31, 2017 and December 31, 2016:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Trades and other current receivables		814,412		701,610
U.S. Dollars		550,674		489,056
Euros		20,498		26,544
Other currencies		134,238		77,907
Chilean pesos		106,442		106,681
U.F.		2,560		1,422
Accounts receivable from related parties, current		3,488		12,505
U.S. Dollars		726		274
Other currencies		171		726
Chilean pesos		2,192		10,548
U.F.		399		957
Trade and other non-current receivables		16,040		14,273
U.S. Dollars		4,247		6,895
Other currencies		3,345		527
Chilean pesos		6,692		5,753
U.F.		1,756		1,098
Accounts receivable from related parties, non-current		1,056		957
U.F.		1,056		957

23.6 Total Financial Liabilities

Arauco’s financial liabilities to the date of these consolidated financial statements are as follows:

Financial Liabilities	December 2017 ThU.S.$		December 2016 ThU.S.$
Total Financial Liabilities		5,007,465		5,110,088
Financial liabilities at fair value through profit or loss (held for trading)		137		336
Hedging Liabilities		5,256		87,027
Financial Liabilities Measured at Amortized Cost		5,002,072		5,022,725

The following table sets forth the current portion of the non-current bank borrowings and debt issued as of December 31, 2017 and 2016.

	December 2017 ThU.S.$		December 2016 ThU.S.$
Bank borrowings - current portion		92,693		88,028
Bonds issued - current portion		107,268		62,506
Total		199,961		150,534

23.7 Financial Liabilities Measured at Amortized Cost

Financial liabilities correspond to non-derivative financial instruments with contractual cash-flow payments that can be either fixed or variable.

Also, this category includes those non-derivative financial liabilities for services or goods delivered to Arauco at the end of each reporting period that have not yet been paid. These amounts are not insured and are generally paid within thirty days after being recognized.

At the end of each reporting period, Arauco includes in this category bank borrowings, bonds issued denominated in U.S. Dollars and in U.F., trade and other payables.

		12-31-2017		12-31-2016		12-31-2017		12-31-2016
		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
	Currency	Amortized Cost				Fair Value
Total Financial Liabilities			5,002,072		5,022,725		5,198,654		5,158,789
Bonds Issued	U.S. Dollar		2,057,747		2,321,980		2,135,893		2,480,063
Bonds Issued	U.F.		1,244,938		1,130,679		1,333,087		1,078,934
Bank borrowings	U.S. Dollar		834,908		891,338		870,399		926,070
Bank borrowings	Other currencies		23,549		23,020		23,358		23,020
Financial Leasing	Other currencies		96,913		98,316		92,542		94,052
Financial Leasing	Chilean pesos		15,463		15,670		14,821		14,928
Trades and Other Payables	U.S. Dollar		194,342		150,162		194,342		150,162
Trades and Other Payables	Euro		8,848		13,034		8,848		13,034
Trades and Other Payables	Other currencies		158,567		70,736		158,567		70,736
Trades and Other Payables	Chilean pesos		333,529		285,359		333,529		285,359
Trades and Other Payables	U.F.		22,060		18,600		22,060		18,600
Related party payables	U.S. Dollar		1,354		1,969		1,354		1,968
Related party payables	Chilean pesos		9,854		1,862		9,854		1,863

The financial liabilities at amortized cost presented in the consolidated statements of financial positions as of December 31, 2017 and 2016 are as follows: 

	December 2017
	Current ThU.S.$		Non-Current ThU.S.$		Total ThU.S.$
Other financial liabilities		500,207		3,773,311		4,273,518
Trade and other payables		717,346		-		717,346
Related Party Payables		11,208		-		11,208
Total Financial Liabilities Measured at Amortized Cost		1,228,761		3,773,311		5,002,072

	December 2016
	Current ThU.S.$		Non-Current ThU.S.$		Total ThU.S.$
Other financial liabilities		697,000		3,784,003		4,481,003
Trade and other payables		537,891		-		537,891
Related Party Payables		3,831		-		3,831
Total Financial Liabilities Measured at Amortized Cost		1,238,722		3,784,003		5,022,725

23.8 Cash Flow Hedges Reserve Reconciliation

The following table sets forth the reconciliation balances of cash flow hedges presented in Other Comprehensive Income:

	January-December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Opening balance		1,096		(55,396)		(53,022)
Gains (losses) on cash flow hedges		22,212		84,045		11,859
Recycle of cash flow hedges to profit or loss		(16,965)		(10,198)		(16,122)
Income tax		(5,917)		(20,055)		(1,738)
Recycle of income tax		4,326		2,700		3,627
Closing balance		4,752		1,096		(55,396)

23.9 Capital Disclosures

23.9.1 Information on Objectives, Policies and Processes applied by the Company regarding Capital Management

Arauco’s policies on capital management have the objective of:

a) Ensuring business continuity and normal operations in the long term;

b) Ensuring funding for new investments to achieve sustainable growth over time;

c) Keeping adequate capital structure considering all economic cycles that impact the business and the nature of the industry; and

d) Maximizing the Company’s value and providing an adequate return to shareholders.

23.9.2 Qualitative Information on Objectives, Policies and Processes applied by the Company regarding Capital Management

Arauco determines and manages its capital structure based on its carrying amount of equity plus its financial debt (bank borrowings and bonds issued).

23.9.3 Quantitative Information on Capital Management

The following table sets forth the financial covenants that the Company has to comply with as part of the terms of certain of its obligations:

					Interest
	December 2017		December 2016		coverage	Debt level
Instrument	ThU.S.$		ThU.S.$		>= 2,0x	(1) <= 1,2x
Domestic bonds (Chile)		1,244,939		1,130,679	N/R	v
Syndicate Loan Scotia		199,597		298,967	v	v
Syndicate Loan Banco Estado - Grayling		130,953		-	v	v

N/R: Not required for the financial obligation

(1) Debt to equity ratio (financial debt divided by equity plus non-controlling interests)

As of December 31, 2017 and December 31, 2016, Arauco has complied with all of its financial covenants.

The following table sets forth the credit ratings of our debt instruments as of December 31, 2017, are as follows:

Instrument	Standard &; Poor’s	Fitch Ratings	Moody’s	Feller Rate
Local bonds	-	AA-	-	AA-
Foreign bonds	BBB-	BBB	Baa3	-

Capitalization requirements are established based on the Company’s financial needs and on maintaining an adequate liquidity level and complying with financial covenants established in current debt arrangements. The Company manages its capital structure and makes adjustments based on the prevailing economic conditions in order to mitigate the risks associated with adverse market conditions, and based on opportunities that may arise to improve the Company’s level of liquidity.

The capitalization of Arauco as of December 31, 2017 and December 31, 2016 is as follows:

	December 2017		December 2016
	ThU.S.$		ThU.S.$
Equity		7,116,893		6,999,283
Bank borrowings		858,457		914,358
Financial leasing		112,376		113,986
Bonds issued		3,302,685		3,452,659
Capitalization		11,390,411		11,480,286

23.10 Risk Management

Arauco’s financial instruments are exposed to various financial risks: credit risk, liquidity risk and market risk (including exchange rate risks, interest rate risks and price risks).

Arauco’s overall risk management program focuses on uncertainty in financial markets and aims to minimize potential adverse effects on Arauco’s financial profitability.

Arauco’s financial risk management is overseen by the Corporate Finance Department. This department identifies, assesses and hedges financial risks in close collaboration with Arauco’s operational units.

23.10.1 Type of Risk: Credit Risk

Description

Credit risk refers to financial uncertainty at different periods of time relating to the fulfillment of obligations with counterparties, at the time of exercising the contract rights to receive cash or other financial assets on behalf of Arauco.

Explanation of Credit Risk Exposure and How This Risk Arises

Arauco’s exposure to credit risk is directly related to each of its customer’s individual abilities to fulfill their contractual commitments, reflected in trade receivables.

Accounts exposed to credit risk are: trade receivable, financial lease debtors and other debtors.

Arauco does not have a securitized portfolio.

	December 2017		December 2016
	ThU.S.$		ThU.S.$
Current Receivables
Trade receivables		706,485		598,597
Financial lease receivables		11,932		411
Other debtors		95,995		102,602
Net subtotal		814,412		701,610
Trade receivables		715,217		609,102
Financial lease receivables		12,033		512
Other debtors		101,663		108,640
Gross subtotal		828,913		718,254
Provision for doubtful trade receivables		8,732		10,505
Provision for doubtful lease receivables		101		101
Provision for doubtful other debtors		5,668		6,038
Subtotal Bad Debt		14,501		16,644
Non-Current Receivables
Trade receivables		3,498		1,992
Financial lease receivables		1,174		353
Other debtors		11,368		11,928
Net Subtotal		16,040		14,273
Trade receivables		3,498		1,992
Financial lease receivables		1,174		353
Other debtors		11,368		11,928
Gross subtotal		16,040		14,273
Provision for doubtful trade receivables		-		-
Provision for doubtful lease receivables		-		-
Provision for doubtful other debtors		-		-
Subtotal Bad Debt		-		-

Explanation of Risk Management Objectives, Policies and Processes, and Measurement Methods

The Credit and Collections Sub-Division, dependent from the Treasury Division, is the area entrusted with minimizing the credit risk of the accounts receivable, supervising the delinquency of the accounts. The regulations and procedures applicable for the control and administration of the Arauco Group can be found in the Corporate Credit Policy.

As of December 31, 2017, Arauco’s balance for commercial Debtors was ThU.S.$ 718,714 of which, according to the agreed sales conditions, 59.18% corresponded to sales on credit (open account), 37.83% to sales with letters of credit and 2.99% to other types of sales, distributed in 2,245 debtors. The client with the largest Open Account debt represented 3.49% of the total accounts receivable as of that date.

Below we provide detail regarding accounts receivable, classified in tranches.

December 31, 2017
Age of trade receivables
Days	Non- past due	1 to 30	31 to 60	61 to 90	91 to 120	121 to 150	151 to 180	181 to 210	211 to 250	More than 250	Total
ThU.S.$	662,963	39,459	551	955	50	34	2,238	56	97	12,312	718,715
%	92.20%	5.50%	0.10%	0.10%	0.00%	0.00%	0.30%	0.00%	0.00%	1.70%	100%

December 31, 2016
Age of trade receivables
Days	Non- past due	1 to 30	31 to 60	61 to 90	91 to 120	121 to 150	151 to 180	181 to 210	211 to 250	More than 250	Total
ThU.S.$	564,378	31,106	257	881	39	18	21	11	64	14,319	611,094
%	92.40%	5.10%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	2.30%	100%

Arauco does not conduct rescheduling or renegotiations with its clients that imply an amendment to the maturity of the invoices and, should it be necessary, any debt renegotiation with a client shall be analyzed on a case-by-case basis and subjected to the approval of the Corporate Finance Division. 

Regarding the provisions from non-enforceable accounts, below we provide detail for the movements as of December 31, 2017, 2016 and 2015:

	12-31-2017		12-31-2016		12-31-2015
	ThU.S.$		ThU.S.$		ThU.S.$
Opening balance		(16,644)		(19,860)		(18,520)
Impairment losses recognized on receivables		(139)		(3,950)		(3,072)
Reversal of impairment losses		2,282		7,166		1,732
Closing balance		(14,501)		(16,644)		(19,860)

Currently there is a policy for provisions for doubtful accounts receivable under IFRS for all the Arauco group companies.

Explanation regarding the Sales Risk with Letters of Credit

The sales with letters of credit mainly occur in markets in Asia and the Middle East. Periodically, a credit assessment is conducted regarding the banks that issue the letters of credit with the purpose of obtaining their score over the basis of risk-qualification ratings, country-specific risk and financial statements. The decision of approving the issuing bank or asking for confirmation of the letter of credit is made in consideration to this assessment.

Explanation of the Sales Risk with Credit Line

Sales on credit are subject to the credit limit for each customer. The approval or rejection of a credit limit for all term sales is conducted by the Corporate Credit Sub-Division, as well as by the Credit and Collections area for North America, Brazil and Argentina, which report to the Corporate Finance Division. The regulations and procedures applicable for the correct control and risk management over the sales on credit are ruled by the Credit Policy.

A procedure that must be applied by all the companies of the Arauco group has been established for the approval and/or modification of client credit lines. Credit line requests are entered to the SAP that analyzes all available information. Afterwards, the same are either approved or rejected in each one of the internal committees of each company belonging to the Arauco group, depending on the maximum amount authorized by the Credit Policy. Lines of credit are renewed during this internal process on a yearly basis.

All sales are automatically controlled by a credit verification system, which has been configured to block any orders from clients who are delinquent in a given percentage of a debt and/or from clients whose line of credit, as of the time of the product’s shipping, has been exceeded or is overdue.

In order to minimize the credit risk for term or Open Account sales, it is Arauco’s policy to take out insurance to cover the export sales of companies Celulosa Arauco y Constitución S.A., Maderas Arauco S.A., Forestal Arauco S.A., and Arauco do Brasil S.A., as well as the domestic sales of Arauco México S.A. de C.V., Arauco Wood Inc, Arauco Colombia S.A., Arauco Perú S.A., Arauco Panels USA LLC, Flakeboard Company Ltd., Flakeboard America Ltd., Celulosa Arauco y Constitución S.A., Maderas Arauco S.A., Arauco Florestal Arapoti, Arauco Forest Brasil S.A. and Arauco do Brasil S.A. Arauco works with credit insurance company Continental (AA- rating, as per risk rating companies Humphreys and Fitch Ratings). In order to cover the export sales and domestic sales of Arauco Argentina S.A., the preferred credit insurance company is Insur (a subsidiary of Continental in Argentina). Both companies grant a 90% coverage over the amount of each invoice, without deductibles, for registered clients and of 85% for non-registered clients. (Non-registered clients are those whose lines range between ThU.S.$ 5 and ThU.S.$ 70 (equivalent currency of their invoicing) of the local sales of companies Arauco Perú S.A., Arauco Colombia S.A., Arauco México S.A. de C.V., Arauco Do Brasil S.A., Arauco Argentina S.A. and Maderas Arauco S.A. Lines in excess of the aforesaid amounts correspond to registered clients.

As another way of minimizing risk and supporting a line of credit approved by the Credit Committee, Arauco holds guarantees such as mortgages, pledges, Standby letters of credit, bank performance bonds, checks, promissory notes, loans or any other that could be required under the laws of each country. The total amount held in guarantees amounts to ThU.S.$98.7 million, effective as of December 2017, as summarized in the following chart. The procedure for guarantees is regulated by Arauco’s Policy on Guarantees, whose purpose is to control their accounting, due date and custody.

Guarantees Arauco Group (ThU.S.$)
Guarantees Debtors (received from clients)
Certificate of deposits	7,106	7.3	%
Standby	6,942	7.0	%
Promissory notes	71,961	72.9	%
Finance	3,094	3.1	%
Mortgage	6,849	6.9	%
Pledge	2,580	2.6	%
Promissory notes	200	0.2	%
Total Guarantees	98,732	100.0	%

The maximum exposure to credit risk is limited to the value at amortized cost of the Debtors’ account for sales registered as of the date of this report, minus the percentage of sales insured by the aforementioned credit insurance companies and the guarantees granted in favor of Arauco.

In summary, the open account debt covered by the various insurance policies and guarantees amounts to 97.4% and, therefore, Arauco’s portfolio exposure amounts to 2.6%.

Secured Open Accounts Receivable	ThU.S.$			%
Total open accounts receivable		391,992	100.0	%
Secured receivables (*)		381,800	97.4	%
Unsecured receivables		10,192	2.6	%

(*) Insured Debt is deemed to be the portion of accounts receivable that is covered by a credit company or by guarantees such as standby letters of credit, mortgages, performance bonds, among others

Investment Policy:

Arauco has an Investment Policy which identifies and limits the financial instruments and the entities into which the Arauco companies, in particular Celulosa Arauco y Constitucion S.A., are authorized to invest. The Company’s Treasury Department is centralized with operations in Chile. The Head Office is responsible for carrying out investments, cash flow surplus investments, and short and long term debt subscriptions. Exceptions to this rule are specific investments made through other companies where authorization is required from the Chief Financial Officer.

For financial instruments, the only permitted investments are fixed income investments with adequate liquidity. Each instrument has defined classifications and limits, depending on duration and type of issuer.

Regarding intermediaries (such as banks, securities brokers and dealers of mutual funds that are bank affiliates), a scoring methodology is used to determine the relative degree of risk of each intermediary based on their financial position and assign score points that result in a credit risk rating to each intermediary. Arauco uses this scoring system to determine its investment limits for each intermediary.

The required information to evaluate the various criteria are obtained from published financial statements from the banks under evaluation and from the credit risk ratings of short and long term debt securities obtained from rating agencies authorized by the Superintendence of Banks and Financial Institutions (Fitch Ratings Chile, Humphreys and Feller Rate).

The criteria evaluated are: Capital and Reserves, Current Ratio, Return on equity, Net Income to Operating income Ratio, Debt to Equity Ratio and the Credit Risk rating of each entity.

Any necessary exceptions regarding investment limits in each particular instrument or entity must have the authorization from Arauco’s Chief Financial Officer.

23.10.2 Type of Risk: Liquidity Risk

Description

This risk corresponds to Arauco’s ability to fulfill its financial obligations upon maturity.

Explanation of Liquidity Risk Exposure and How This Risk Arises

Arauco’s exposure to liquidity risk is mainly from its obligations to bondholders, banks and financial institutions, creditors and other payables. Liquidity risk may arise if Arauco is unable to meet the net cash flow requirements, which sustain its operations under both normal and exceptional circumstances.

Explanation of Objectives, Policies and Processes for Risk Management, and Measurement Methods

The Financial Management Department monitors on an ongoing basis the Company’s cash flow forecasts based on short and long term forecasts and available financing alternatives. In order to manage the risk level of financial assets, Arauco follows its investment policy.

The following tables detail Arauco’s liquidity analysis for its financial liabilities as of December 31, 2017 and December 31, 2016. The tables have been drawn up based on the contractual undiscounted cash outflows and their remaining contractual maturities:

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective		Nominal
Tax ID	Name	Currency	Loans with banks	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Scotiabank- Chile	25	199,572	-	-	-	-	-	199,597	-	1.70	%	Libor + 0.70%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank	1,167	1,032	2,434	2,361	2,282	2,201	2,120	2,199	11,398	3.51	%	Libor + 2.05%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank	2,953	2,787	5,870	5,676	-	-	-	5,740	11,546	3.26	%	Libor + 1.80%
-	Zona Franca Punta Pereira	U.S. Dollar	BBVA	14,007	-	-	-	-	-	-	14,007	-	3.13	%	Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Citibank	-	4,503	-	-	-	-	-	4,503	-	3.10	%	Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Scotiabank	3	2,506	-	-	-	-	-	2,509	-	3.17	%	3.17%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo	4,723	4,161	9,828	9,526	9,201	8,885	8,570	8,884	46,010	3.51	%	Libor + 2.05%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo	11,946	11,255	23,735	22,938	-	-	-	23,201	46,673	3.26	%	Libor + 1.80%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Finnish Export Credit	25,176	21,214	50,198	49,484	47,929	47,207	23,564	46,390	218,382	3.20	%	3.20%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Dnb Nor Bank	-	45	-	-	-	-	-	45	-	0.00	%	Libor + 2%
-	Eufores S.A.	U.S. Dollar	Banco Republica Oriental de Uruguay	24,746	12,564	-	-	-	-	-	37,310	-	3.08	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Citibank	6	-	-	-	-	-	-	6	-	3.43	%	Libor + 2%
-	Eufores S.A.	U.S. Dollar	Banco HSBC- Uruguay	1,200	-	-	-	-	-	-	1,200	-	2.91	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Banco Itau -Uruguay	4	12,513	-	-	-	-	-	12,517	-	3.08	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Heritage	1,352	-	-	-	-	-	-	1,352	-	3.03	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Banco Santander	20,230	5,013	-	-	-	-	-	25,243	-	3.06	%	Libor + 1.75%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander	23	67	89	46	-	-	-	90	135	9.50	%	9.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Alfa	18	56	74	74	74	7	-	74	229	10.75	%	Tljp+2%+ spread 1.75%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander	3	7	10	10	7	-	-	10	27	11.00	%	Tljp+2%+ spread 2%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau	1	-	-	-	-	-	-	1	-	2.50	%	2.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau	13	37	4	-	-	-	-	50	4	3.50	%	3.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco	11	33	36	-	-	-	-	44	36	6.00	%	6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Votorantim	16	-	-	-	364	364	-	16	728	5.00	%	5.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra	22	65	22	-	-	-	-	87	22	6.00	%	6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra	7	20	27	27	11	-	-	27	65	10.00	%	10.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	981	907	-	-	-	-	-	1,888	-	9.50	%	9.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	-	16	16	8	-	-	-	16	24	9.00	%	9.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	12	52	85	74	64	54	-	64	277	10.49	%	10.49%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bradesco	20	69	53	28	28	16	-	89	125	9.00	%	9.00%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Alfa	2	7	9	9	5	-	-	9	23	8.20	%	Cesta+2%+spread 1.8%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Alfa	6	17	23	22	11	-	-	23	56	10.80	%	Tljp+2%+Spread 1.8%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Itau -Brazil	1	-	-	-	-	-	-	1	-	2.50	%	2.50%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Votorantim - Brazil	192	619	403	-	322	322	-	811	1,047	8.10	%	Tljp+1.8%+Spread 2%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Votorantim - Brazil	34	-	78	-	-	-	-	34	78	7.70	%	Cesta+1.3%+spread 2%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bndes Subcrédito A-B-D	4	-	-	115	458	344	-	4	917	9.82	%	Tljp + 2.91%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Bndes Subcrédito C	5	-	-	24	145	120	-	5	289	7.30	%	Cesta+2.91%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Santander	995	984	107	212	202	161	-	1,979	682	8.90	%	8.90%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito E-I	23	754	3,017	2,262	-	-	-	777	5,279	9.91	%	Tljp + 2.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito F-J	16	452	1,810	1,358	-	-	-	468	3,168	10.91	%	Tljp + 3.91%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Bndes Subcrédito G-K	63	339	2,037	1,697	-	-	-	402	3,734	7.31	%	Cesta + 2.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito H-L	19	504	2,011	1,509	-	-	-	523	3,520	12.11	%	Tljp + 5.11%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Banco Santander	-	-	27	27	27	-	-	-	81	11.00	%	Tljp+2%+Spread 2%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Banco Santander	-	-	13	13	12	-	-	-	38	8.40	%	Cesta+2%+Spread 2%
-	Novo Oeste Gestao de Ativos Florestais S.A.	Brazilian Real	Banco Santander	-	1	26	28	28	2	-	1	84	11.00	%	Tljp+2%+Spread 2%
-	Novo Oeste Gestao de Ativos Florestais S.A.	U.S. Dollar	Banco Santander	-	1	12	13	13	1	-	1	39	8.40	%	Tljp+2%+Spread 2%
-	Flakeboard America Ltd	U.S. Dollar	Banco del Estado de Chile	675	-	5,060	4,839	17,925	17,925	111,309	675	157,058	3.00	%	Libor + 1.65%
			Total	110,700	282,172	107,114	102,380	79,108	77,609	145,563	392,872	511,774

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective		Nominal
Tax ID	Name	Currency	Bonds	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F	-	1,528	28,132	27,301	26,469	25,638	156,181	1,528	263,721	4.24	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F	-	611	11,340	11,005	10,670	10,335	62,958	611	106,308	4.25	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-J	2,342	-	7,027	224,916	-	-	-	2,342	231,943	3.23	%	3.22	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-P	-	1,103	8,633	8,633	8,633	28,334	240,175	1,103	294,408	3.96	%	3.96	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-Q	-	22,364	23,445	22,796	11,154	-	-	22,364	57,395	2.96	%	2.98	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-R	-	1,944	7,777	7,777	7,777	7,777	314,228	1,944	345,336	3.57	%	3.57	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-S	-	650	5,200	5,200	5,200	5,200	230,228	650	251,028	2.44	%	2.89	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2019	6,168	-	217,034	-	-	-	-	6,168	217,034	7.26	%	7.25	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2021	4,422	-	10,013	10,013	204,138	-	-	4,422	224,164	5.02	%	5.00	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2022	5,705	-	12,153	12,153	12,153	259,072	-	5,705	295,531	4.77	%	4.75	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2024	9,375	-	22,500	22,500	22,500	22,500	548,324	9,375	638,324	4.52	%	4.50	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2027	-	3,175	19,375	19,375	19,375	19,375	582,479	3,175	659,979	3.90	%	3.88	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2047	-	3,607	22,000	22,000	22,000	22,000	943,160	3,607	1,031,160	5.50	%	5.50	%
			Total	28,012	34,982	394,629	393,669	350,069	400,231	3,077,733	62,994	4,616,331

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective	Nominal
Tax ID	Name	Currency	Lease	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate	rate
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Santander	168	1,026	983	983	-	-	-	1,194	1,966	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Scotiabank	1,563	3,772	4,139	4,139	638	638	-	5,335	9,554	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Estado	749	2,182	2,318	2,318	230	230	-	2,931	5,096	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco de Chile	3,346	13,995	7,886	7,886	2,247	2,247	-	17,341	20,266	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco BBVA	1,151	3,421	447	447	-	-	-	4,572	894	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Credito e Inversiones	1,443	5,901	4,856	4,856	5,354	5,354	-	7,344	20,420	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Santander	50	17	-	-	-	-	-	67	-	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Chile	607	1,547	1,015	1,015	123	123	-	2,154	2,276	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Credito e Inversiones	767	2,301	3,032	3,032	179	179	-	3,068	6,422	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Scotiabank	84	251	334	334	237	236	-	335	1,141	-	-
			Total	9,928	34,413	25,010	25,010	9,008	9,007	-	44,341	68,035

As part of the policy of Arauco, it considers compliance with all Accounts Payable, whether with related (see Note 13) or third parties, within a period not exceeding 30 days.

December 31, 2016					Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Loans with banks	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Scotiabank- Chile		-		36		302,242		-		-		-		-		36		302,242		1.63%		1.63%
-	Arauco Argentina S.A.	U.S. Dollar	Banco Galicia- Argentina		5,031		-		-		-		-		-		-		5,031		-		2.00%		2.00%
-	Arauco Argentina S.A.	Argentine Pesos	Banco Macro- Argentina		11		29		-		-		-		-		-		40		-		15.25%		15.25%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank		1,178		1,027		2,450		2,387		2,324		2,256		4,302		2,205		13,719		Libor + 2.05%		Libor + 2.05%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank		2,990		2,782		5,997		5,830		5,664		-		-		5,772		17,491		Libor + 1.80%		Libor + 1.80%
-	Zona Franca Punta Pereira	U.S. Dollar	BBVA		16,176		-		-		-		-		-		-		16,176		-		3.23%		Libor + 2%
-	Zona Franca Punta Pereira	U.S. Dollar	Citibank		-		2,501		-		-		-		-		-		2,501		-		2.95%		Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Scotiabank		2,501		-		-		-		-		-		-		2,501		-		1.60%		1.60%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo		4,768		4,143		9,895		9,637		9,379		9,096		17,371		8,911		55,378		3.30%		Libor + 2.05%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo		12,104		11,237		24,249		23,568		22,888		-		-		23,341		70,705		3.05%		Libor + 1.80%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Finnish Export Credit		25,474		20,774		43,915		44,538		45,209		45,882		70,166		46,248		249,710		3.20%		3.20%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Dnb Nor Bank		89		-		-		-		-		-		-		89		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Republica Oriental de Uruguay		24,733		12,563		-		-		-		-		-		37,296		-		Libor + 1.75%		Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Citibank		5		-		-		-		-		-		-		5		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco HSBC- Uruguay		1,202		-		-		-		-		-		-		1,202		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Itau -Uruguay		10,135		5,003		-		-		-		-		-		15,138		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Heritage		1,351		-		-		-		-		-		-		1,351		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Santander		22,735		-		-		-		-		-		-		22,735		-		Libor + 2.00%		Libor + 2.00%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco ABC - Brazil		7		18		-		-		-		-		-		25		-		2.50%		2.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Itau		2,713		321		-		-		-		-		-		3,034		-		9.50%		9.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Votorantim		13		25		-		-		-		-		-		38		-		5.50%		5.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander		2		46		100		100		57		7		-		48		264		9.34%		9.34%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau		2		6		1		-		-		-		-		8		1		2.50%		2.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau		13		38		51		4		-		-		-		51		55		3.50%		3.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco		11		33		44		37		-		-		-		44		81		6.00%		6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco		400		-		-		-		-		-		-		400		-		8.75%		8.75%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Votorantim		17		-		-		-		-		369		369		17		738		5.00%		5.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra		22		66		88		22		-		-		-		88		110		6.00%		6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra		8		21		27		27		27		11		-		29		92		10.00%		10.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander		1		16		16		16		8		-		-		17		40		9.00%		9.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander		5		18		30		30		19		8		-		23		87		9.22%		9.22%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bradesco		20		57		77		23		-		-		-		77		100		5.91%		5.91%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Alfa		-		5		9		9		9		5		-		5		32		7.94%		7.94%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Alfa		-		12		23		23		23		11		-		12		80		11.30%		11.30%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Itau -Brazil		4		12		1		2		-		-		-		16		3		2.50%		2.50%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Votorantim - Brazil		195		520		694		405		-		327		327		715		1,753		8.59%		8.59%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Votorantim - Brazil		35		101		134		78		-		-		-		136		212		7.44%		7.44%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bndes Subcrédito A-B-D		4		-		-		-		114		460		346		4		920		9.82%		9.82%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Bndes Subcrédito C		4		-		-		-		24		144		120		4		288		7.05%		7.05%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Santander		1		32		-		-		-		-		-		33		-		9.32%		9.32%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco John Deere		62		41		41		32		10		-		-		103		83		6.00%		6.00%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito E-I		23		-		758		3,030		2,272		-		-		23		6,060		8.91%		8.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito F-J		16		-		454		1,818		1,363		-		-		16		3,635		9.91%		9.91%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Bndes Subcrédito G-K		60		-		339		2,037		1,697		-		-		60		4,073		7.05%		7.05%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito H-L		19		-		504		2,020		1,514		-		-		19		4,038		11.11%		11.11%
			Total		134,140		61,483		392,139		95,673		92,601		58,576		93,001		195,623		731,990

December 31, 2016				Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Bonds	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F		-		1,931		11,587		29,091		27,486		33,383		180,490		1,931		282,037	4.24	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-J		2,115		-		6,344		6,344		203,030		-		-		2,115		215,718	3.23	%	3.22	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-P		-		996		7,794		7,794		7,794		7,794		242,571		996		273,747	3.96	%	3.96	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-Q		586		9,839		21,758		21,172		20,586		10,073		-		10,425		73,589	2.96	%	2.98	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-R		1,755		-		7,022		7,022		7,022		7,022		290,572		1,755		318,660	3.57	%	3.57	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-S		-		600		4,695		4,695		4,695		4,695		210,785		600		229,565	2.44	%	2.89	%
-	Arauco Argentina S.A.	U.S. Dollar	Bono 144 A – Argentina		-		270,787		-		-		-		-		-		270,787		-	6.39	%	6.38	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee Bonds 2019		15,205		-		36,250		534,254		-		-		-		15,205		570,504	7.26	%	7.25	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee Bonds 2nd Emission		2,734		124,949		-		-		-		-		-		127,683		-	7.50	%	7.50	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2021		8,889		-		20,000		20,000		20,000		406,926		-		8,889		466,926	5.02	%	5.00	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2022		11,215		-		23,750		23,750		23,750		23,750		504,895		11,215		599,895	4.77	%	4.75	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2024		9,376		-		22,500		22,500		22,500		22,500		569,625		9,376		659,625	4.52	%	4.50	%
			Total		51,875		409,102		161,700		676,622		336,863		516,143		1,998,938		460,977		3,690,266

December 31, 2016				Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Lease	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Santander		237		1,616		-		1,179		-		1,201		-		1,853		2,380		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Scotiabank		1,571		4,970		-		7,731		-		4,259		-		6,541		11,990		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Estado		645		2,008		-		5,092		-		2,035		-		2,653		7,127		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco de Chile		3,294		10,861		-		16,861		-		8,906		-		14,155		25,767		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco BBVA		1,673		5,030		-		4,663		-		183		-		6,703		4,846		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Credito e Inversiones		982		2,994		-		7,501		-		2,824		-		3,976		10,325		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Santander		46		138		-		61		-		-		-		184		61		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Chile		439		1,317		-		2,418		-		929		-		1,756		3,347		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Credito e Inversiones		647		1,932		-		5,053		-		2,690		-		2,579		7,743		-		-
			Total		9,534		30,866		-		50,559		-		23,027		-		40,400		73,586

As part of the policy of Arauco, it considers compliance with all Accounts Payable, whether with related (see Note 13) or third parties, within a period not exceeding 30 days.

Guarantees

As of the date of these consolidated financial statements, Arauco has financial assets of approximately MU.S.$55 that have been pledged to third parties (beneficiaries), as direct guarantee. If Arauco does not fulfill its obligations, the guarantors could execute the guarantees.

As of December 31, 2017, the total assets pledged as an indirect guarantee were MU.S.$602. In contrast to direct guarantees, indirect guarantees are given to secure obligations assumed by a third party.

On September 29, 2011, Arauco entered into a Security Agreement under which it granted a non-joint guarantee limited to 50% of the obligations of the Uruguayan companies (joint ventures) Celulosa y Energía Punta Pereira S.A. and Zona Franca Punta Pereira S.A., under the IDB Facility Agreement in the amount of up to MU.S.$454 and the Finnevera Guaranteed Facility Agreement in the amount of up to MU.S.$900. Both loan agreements were signed with the International Development Bank. Such guarantee is included in the table below, under indirect guarantees.

Direct and indirect guarantees granted by Arauco:

DIRECT
Subsidiary	Guarantee	Assets Pledged	Currency	ThU.S.$		Guarantor
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		488	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		313	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		230	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		209	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		100	National Customs Service
Arauco Forest Brasil S.A.	Mortgage Industrial Plant of Jaguariaíva of Arauco do Brasil	-	U.S. Dollar		46.346	BNDES
Arauco Forest Brasil S.A.	Endorsement of ADB + Guarantee Letter AISA	-	U.S. Dollar		3.539	Bank Votorantim S.A.
Arauco Forest Brasil S.A.	Endorsement of Arauco do Brasil	-	U.S. Dollar		645	Bank Votorantim S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		224	Bank Santander S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		134	Bank Bradesco S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		113	Bank Bradesco S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		97	Bank Bradesco S.A.
Arauco do Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		209	Bank Santander S.A.
Arauco do Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		206	Bank Alpha S.A.
Arauco Florestal Arapoti S.A.	Endorsement of Arauco do Brasil	-	U.S. Dollar		727	Bank Votorantim S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		389	Bank Safra S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		232	Bank Santander S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		201	Bank Itaú BBA S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		96	Bank Bradesco S.A.
Arauco Bioenergía S.A.	Guarantee letter	-	Chilean Pesos		185	Minera Escondida Ltda.
Arauco Bioenergía S.A.	Guarantee letter	-	Chilean Pesos		121	CODELCO S.A.
		Total			54.804

INDIRECT
Subsidiary	Guarantee	Assets Pledged	Currency	ThU.S.$		Guarantor
Celulosa Arauco y Constitución S.A.	Suretyship not supportive and cumulative	-	U.S. Dollar		408.351	Joint Ventures (Uruguay)
Celulosa Arauco y Constitución S.A.	Full Guarantee	-	U.S. Dollar		131.000	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	U.S. Dollar		4.362	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Brazilian Real		14.593	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	U.S. Dollar		43.896	Masisa S.A.
		Total			602.202

23.10.3 Type of Risk: Market Risk – Exchange Rate

Description

Market risk arises from the probability of being affected by losses from fluctuations in currencies exchange rates in which assets and liabilities are denominated, in a functional currency other than the functional currency of Arauco.

Explanation of Currency Risk Exposure and How This Risk Arises

Arauco is exposed to the foreign currency risk from currency fluctuations arising from sales, purchases and obligations undertaken in foreign currencies, such as the Chilean Peso, Euro, Brazilian Real or other foreign currencies. In the case of significant exchange rate variations, the Chilean Peso is the currency that represents the main currency risk. See Note 11 for details assets and liabilities classified by currency.

Explanation of Risk Management Objectives, Policies and Processes, and Measurement Methods

Arauco performs sensitivity analyses to measure the effect of this variable on equity and net result.

Sensitivity analysis considers a variation of +/- 10% of the exchange rate over the Chilean Peso. This fluctuation range is considered possible given current market conditions as of the date of these financial statements. With all other variables at a constant rate, a U.S. Dollar exchange rate variation of +/- 10% in relation to the Chilean Peso would mean a change in the net income year after tax +/- 9.98% (equivalent to ThU.S.$ +/- 26,968), and +/- 0.23% of equity (equivalent to ThU.S.$ +/- 16,181).

Additionally, a sensitivity analysis is carried out assuming a variation of +/- 10% in the closing exchange rate on the Brazilian Real, which is considered a possible range of fluctuation given the market conditions as of the date of these financial statements. With all the other variables constant, a variation of +/- 10% in the exchange rate of the dollar on the Brazilian Real would mean a variation on the net income after tax +/- 1,67% (equivalent to ThU.S.$4,500) and a change on the equity of +/- 0.04% (equivalent to ThU.S.$2,700).

23.10.4 Type of Risk: Market Risk – Interest rate risk

Description

Interest rate risk refers to the sensitivity of the value of financial assets and liabilities in terms of interest rate fluctuations.

Explanation of Interest Rate Risk Exposure and How This Risk Arises

Arauco is exposed to risks due to interest rate fluctuations for bonds issued, bank borrowings and financial instruments that bear interest at a variable rate.

Explanation of Risk Management Objectives, Policies and Processes, and Measurement Methods

Arauco completes its risk analysis by reviewing its exposure to changes in interest rates. As of December 31, 2017, 14% our financial debt accrues interest at variable rates. A change of +/- 10% in the interest rate is considered a possible range of fluctuation. Such market conditions would affect the income after tax at rate of +/- 0.41% (equivalent to ThU.S.$-/+ 1,097) and +/- 0.01% (equivalent to ThU.S.$-/+ 658) on equity.

Thousands of dollars	December 2017 ThU.S.$		Total
Fixed rate		3,676,210		86.0	%
Bonds issued		3,302,685
Bank borrowings (*)		261,149
Financial leasing		112,376
Variable rate		597,308		14.0	%
Bonds issued		-
Loans with Banks		597,308
Total		4,273,518		100.0	%

Thousands of dollars	December 2016 ThU.S.$		Total
Fixed rate		3,903,942		87.1	%
Bonds issued		3,452,659
Bank borrowings (*)		337,297
Financial leasing		113,986
Variable rate		577,061		12.9	%
Bonds issued		-
Loans with Banks		577,061
Total		4,481,003		100.0	%

(*) Includes variable rate bank borrowings changed by fixed rate swaps.

23.10.5 Type of Risk: Market Risk – Price of Pulp Risks

Description

Pulp prices are determined by world and regional market conditions. Prices fluctuate based on demand, production capacity, commercial strategies adopted by large-scale forestry companies, pulp and paper producers and by the availability of substitutes.

Explanation of Price Risk Exposure and How This Risk Arises

Pulp prices are reflected in revenue from sales and directly affect the net income for the period.

As of December 31, 2017, revenue due to pulp sales accounted for 46.8% of total sales. Pulp prices are fixed on a monthly basis in accordance with the market. Forward contracts or other financial instruments are not used for pulp sales.

Explanation of Risk Management Objectives, Policies and Processes, and Measurement Methods

This risk is approached in different ways. Arauco has a team of specialists who perform periodic market and competition analyses, providing tools to analyze and evaluate trends and adjust forecasts. Similarly, Arauco performs price financial sensitivity analysis in order to take the necessary safeguards to confront different scenarios in the best possible manner.

Sensitivity analysis considers a variation of +/- 10% in the average pulp price, a possible fluctuation range given current market conditions at the date of the closing balance. With all other variables constant, a variation of +/- 10% in the average pulp price would mean a variation of +/- 72.94% (equivalent to ThU.S.$ 197,022) on the income for the year after tax and +/- 1.66% (equivalent to ThU.S.$118,213) on equity.

XML

REPORTABLE SEGMENTS

12 Months Ended

Dec. 31, 2017

Disclosure Of Reportable Segments [Abstract]

Disclosure of entity's operating segments [text block]

NOTE 24. REPORTABLE SEGMENTS

The main products that generate revenue for each reportable segment are described as follows:

· Pulp: The main products sold by this reportable segment are long fiber bleached pulp (BSKP), short fiber bleached pulp (BHKP), long fiber raw pulp (UKP), and pulp fluff.

· Wood products: The range of products sold by this reportable segment are plywood panels, MDF panels (medium density fiberboard), Hardboard Panels, PB Panels (agglomerated) different sizes of sawn wood and remanufactured products such as moldings, precut pieces and finger joints.

· Forestry: This reportable segment produces and sells sawn logs, pulpable logs, posts and chips made from owned forests of Radiata and Taeda pine, eucalyptus globulus and nitens forests. Additionally, purchases logs and woodchip from third parties, which it sells to its other reportable segment.

Arauco has revised its disclosure of the split of revenues between Chilean entities and foreign entities within its presentation of geographical information relating to the years ended December 31, 2016 and 2015 to correct the classification of revenues from subsidiaries in Uruguay. There was no impact to the Consolidated Statements of Profit or Loss, Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flow nor to the Consolidated Statements of Changes in Equity. In addition, the corrections did not affect the Company’s service of its debt obligations.

Pulp

The Pulp reportable segment uses wood exclusively from pine and eucalyptus plantations for the production of different classes of wood cellulose or pulp. Bleached pulp is mainly used as raw material for producing printing and writing paper, as well as toilet paper and high quality wrapping paper. Unbleached pulp is used to produce packing paper, filters, fiber cement products, dielectric paper and others. On the other hand, fluff pulp is mainly used in the production of diapers and female hygiene products.

Arauco has seven plants, five in Chile, one in Argentina and one in Uruguay and they have a total production capacity of approximately 3.9 million tons per year. Pulp is sold in more than 45 countries, mainly in Asia and Europe.

Wood products

The Panels area produces a wide range of panel products and several kinds of moldings aimed at the furniture, decoration and construction industries. It consists of 19 industrial plants: 5 in Chile, 2 in Argentina, 4 in Brazil, and 8 plants around USA and Canada. The Company has a total annual production capacity of 6.8 million cubic meters of PBO, MDF, Hardboards, plywood and moldings.

Through the joint venture Sonae Arauco (see note 16), Arauco produces and sells wood panels, of the type of MDF, PB and OSB, and sawn timber, through the operation of 2 panel plants and one sawmill in Spain; 2 panel plants and one resin plant in Portugal; 4 panel plants in Germany and 2 panel plants in South Africa.

In total, Sonae Arauco’s production capacity is approximately 1.4 million m3 of MDF, 2.1 million m3 of PB, 486,000 m3 of OSB and 50,000 m3 of sawn lumber.

The Sawn Timber area produces a wide range of wood and remanufactured products with different kinds of uses and appearances, which include a wide variety of uses in the furniture, packing, construction and refurbishing industries.

With 8 saw mills in operation (7 in Chile and 1 in Argentina), the Company has a production capacity of 3 million m3 of sawn wood.

Furthermore, the Company has 5 remanufacturing plants, 4 in Chile and 1 in Argentina. These plants reprocess sawn wood and produce high quality remanufactured products, such as finger joint and solid moldings as well as precut pieces.

Forestry

The Forestry reportable segment is Arauco’s core business. It provides raw materials for all products manufactured and sold by the Company. By directly controlling the growth of the forests to be processed, Arauco guarantees itself quality wood for each of its products.

Arauco holds forestry assets distributed throughout Chile, Argentina, Brazil and Uruguay, reaching 1.7 million hectares as of December 31, 2017, of which 1 million hectares are used for plantations, 431 thousand hectares for native forests, 195 thousand hectares for other uses and 99 thousand hectares are to be planted.

Arauco’s principal plantations consist of radiata and taeda pine and eucalyptus to a lesser degree. These are species that have fast growth rates and short harvest cycles compared with other long fiber commercial woods.

Arauco has no customers representing 10% or more of its revenues.

Below, please find summarized information concerning the assets, liabilities and profits and losses at the end of each period, by segments. The profit (loss) of each segment informed takes into consideration that taxes and income and financial costs have not been allocated to the various segments, and are shown as part of the Corporate’s segment:

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues from external customers	2,451,363	114,122	2,633,773	39,083	-	5,238,341	-	5,238,341
Revenues from transactions with other operating segments	43,829	970,384	6,297	35,659	-	1,056,169	(1,056,169)	-
Finance income	-	-	-	-	19,640	19,640	-	19,640
Finance costs	-	-	-	-	(287,958)	(287,958)	-	(287,958)
Net finance costs	-	-	-	-	(268,318)	(268,318)	-	(268,318)
Depreciation and amortizations	246,382	22,011	142,504	3,568	7,086	421,551	-	421,551
Sum of significant income accounts	581	91,089	1,304	-	-	92,974	-	92,974
Sum of significant expense accounts	-	138,139	3,333	-	-	141,472	-	141,472
Profit (loss) of each reportable segment	589,934	(210,566)	225,317	6,668	(341,001)	270,352	-	270,352
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates	-	-	-	-	4,855	4,855	-	4,855
Joint ventures	-	-	10,378	-	1,784	12,162	-	12,162
Income tax expense	-	-	-	-	30,992	30,992	-	30,992
Geographical information on revenues
Revenue – Chilean entities	1,781,769	55,946	1,265,161	692	-	3,103,568	-	3,103,568
Revenue – Foreign entities	669,594	58,176	1,368,612	38,391	-	2,134,773	-	2,134,773
Total Ordinary Income	2,451,363	114,122	2,633,773	39,083	-	5,238,341	-	5,238,341

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets	191,771	211,245	230,395	428	4,127	637,966	-	637,966
Acquisition and contribution of investments in associates and joint venture	-	-	-	-	15,918	15,918	-	15,918

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,035,105	5,040,500	3,024,120	52,640	881,000	14,033,365	(38,765)	13,994,600
Segments assets (excluding deferred tax assets)	5,035,105	5,040,500	3,024,120	52,640	872,734	14,025,099	(38,765)	13,986,334
Deferred tax assets	-	-	-	-	8,266	8,266	-	8,266
Investments accounted through equity method
Associates	-	48,921	-	-	110,046	158,967	-	158,967
Joint Ventures	-	-	189,568	-	20,237	209,805	-	209,805
Segment liabilities	325,598	184,721	489,022	16,100	5,862,266	6,877,707	-	6,877,707
Segment liabilities (excluding deferred tax liabilities)	325,598	184,721	489,022	16,100	4,376,902	5,392,343	-	5,392,343
Deferred tax liabilities	-	-	-	-	1,485,364	1,485,364	-	1,485,364
Geographical information on non-current assets
Chile	2,537,947	3,221,911	666,234	22,220	187,639	6,635,951	(4,635)	6,631,316
Foreign countries	1,700,240	1,648,557	1,191,895	21,571	30,658	4,592,921	-	4,592,921
Non-current assets, Total	4,238,187	4,870,468	1,858,129	43,791	218,297	11,228,872	(4,635)	11,224,237

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues from external customers	2,146,079	96,488	2,494,750	24,068	-	4,761,385	-	4,761,385
Revenues from transactions with other reportable segments	41,586	1,105,220	6,938	34,085	-	1,187,829	(1,187,829)	-
Finance income	-	-	-	-	29,701	29,701	-	29,701
Finance costs	-	-	-	-	(258,467)	(258,467)	-	(258,467)
Net finance costs	-	-	-	-	(228,766)	(228,766)	-	(228,766)
Depreciation and amortizations	240,699	19,996	139,844	2,529	6,319	409,387	-	409,387
Sum of significant income accounts	212	227,776	269	-	-	228,257	-	228,257
Sum of significant expense accounts	-	15,193	12,565	-	-	27,758	-	27,758
Profit (loss) of each reportable segment	308,536	98,955	165,887	(2,559)	(353,242)	217,577	-	217,577
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates	-	-	-	-	16,348	16,348	-	16,348
Joint ventures	-	-	5,475	-	2,116	7,591	-	7,591
Income tax expense	-	-	-	-	(45,647)	(45,647)	-	(45,647)
Geographical information on revenues
Revenue – Chilean entities	1,521,453	52,161	1,275,937	885	-	2,850,436	-	2,850,436
Revenue – Foreign entities	624,626	44,327	1,218,813	23,183	-	1,910,949	-	1,910,949
Total Ordinary Income	2,146,079	96,488	2,494,750	24,068	-	4,761,385	-	4,761,385

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets	205,205	182,743	118,408	1,479	3,883	511,718	-	511,718
Acquisition and contribution of investments in associates and joint venture	-	-	153,135	-	-	153,135	-	153,135

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,077,300	5,492,364	2,515,092	30,970	932,059	14,047,785	(41,604)	14,006,181
Segments assets (excluding deferred tax assets)	5,077,300	5,492,364	2,515,092	30,970	925,962	14,041,688	(41,604)	14,000,084
Deferred tax assets	-	-	-	-	6,097	6,097	-	6,097
Investments accounted through equity method
Associates	-	160,490	-	-	105,285	265,775	-	265,775
Joint Ventures	-	-	161,703	-	19,070	180,773	-	180,773
Segment liabilities	277,474	161,091	311,667	11,836	6,244,830	7,006,898	-	7,006,898
Segment liabilities (excluding deferred tax liabilities)	277,474	161,091	311,667	11,836	4,613,765	5,375,833	-	5,375,833
Deferred tax liabilities	-	-	-	-	1,631,065	1,631,065	-	1,631,065
Geographical information on non-current assets
Chile	2,572,702	3,509,727	721,418	27	135,808	6,939,682	(3,575)	6,936,107
Foreign countries	1,740,559	1,525,190	1,016,633	23,040	42,292	4,347,714	-	4,347,714
Non-current assets, Total	4,313,261	5,034,917	1,738,051	23,067	178,100	11,287,396	(3,575)	11,283,821

	Pulp		Forestry		Wood products		Others		Corporate		Sub Total		Elimination		Total
Year ended December 31, 2015	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Revenues from external customers		2,363,973		116,368		2,633,211		33,188		-		5,146,740		-		5,146,740
Revenues from transactions with other reportable segments		43,414		491,703		10,673		32,543		-		578,333		(578,333)		-
Finance income		-		-		-		-		50,284		50,284		-		50,284
Finance costs		-		-		-		-		(262,962)		(262,962)		-		(262,962)
Net finance costs		-		-		-		-		(212,678)		(212,678)		-		(212,678)
Depreciation and amortizations		231,916		18,211		139,446		3,913		6,659		400,145		-		400,145
Sum of significant income accounts		31		220,907		4,823		-		-		225,761		-		225,761
Sum of significant expense accounts		585		35,610		3,383		35		-		39,613		-		39,613
Profit (loss) of each reportable segment		455,190		137,829		264,473		1,815		(491,596)		367,711		-		367,711
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates		-		-		-		-		5,572		5,572		-		5,572
Joint ventures		-		-		(470)		-		1,646		1,176		-		1,176
Income tax expense		-		-		-		-		(129,694)		(129,694)		-		(129,694)
Geographical information on revenues
Revenue – Chilean entities		1,680,804		68,986		1,323,886		597		-		3,074,273		-		3,074,273
Revenue – Foreign entities		683,169		47,382		1,309,325		32,591		-		2,072,467		-		2,072,467
Total Ordinary Income		2,363,973		116,368		2,633,211		33,188		-		5,146,740		-		5,146,740

	Pulp		Forestry		Wood products		Others		Corporate		Sub Total		Elimination		Total
Year ended December 31, 2015	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets		199,094		155,872		94,191		1,754		7,001		457,912		-		457,912
Acquisition and contribution of investments in associates and joint venture		-		814		-		-		-		814		-		814

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2015	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,172,095	5,471,322	2,374,134	31,679	669,703	13,718,933	(48,542)	13,670,391
Segments assets (excluding deferred tax assets)	5,172,095	5,471,322	2,374,134	31,679	665,968	13,715,198	(48,542)	13,666,656
Deferred tax assets	-	-	-	-	3,735	3,735	-	3,735
Investments accounted through equity method
Associates	-	121,359	-	-	119,781	241,140	-	241,140
Joint Ventures	-	-	3,573	-	20,099	23,672	-	23,672
Segment liabilities	318,880	147,432	269,963	11,526	6,276,145	7,023,946	-	7,023,946
Segment liabilities (excluding deferred tax liabilities)	318,880	147,432	269,963	11,526	4,657,133	5,404,934	-	5,404,934
Deferred tax liabilities	-	-	-	-	1,619,012	1,619,012	-	1,619,012
Geographical information on non-current assets
Chile	2,565,307	3,536,372	758,936	30	128,185	6,988,830	(2,955)	6,985,875
Foreign countries	1,782,286	1,313,685	735,924	23,406	142,803	3,998,104	-	3,998,104
Non-current assets, Total	4,347,593	4,850,057	1,494,860	23,436	270,988	10,986,934	(2,955)	10,983,979

Information required by geographic area:

	Geographical area
	Local  country	Foreign country
2017	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2017	3,103,568	494,479	395,416	801,092	443,786	5,238,341
Non-current Assets at 12-31-2017 other than deferred tax	6,624,381	956,511	1,274,536	575,231	1,785,312	11,215,971

	Geographical area
	Local  country	Foreign country
2016	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2016	2,850,436	414,084	350,352	801,821	344,692	4,761,385
Non-current Assets at 12-31-2016 other than deferred tax	6,931,755	960,596	1,186,538	397,924	1,800,911	11,277,724

	Geographical area
	Local  country	Foreign country
2015	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2015	3,074,273	546,409	358,562	809,293	358,203	5,146,740
Non-current Assets at 12-31-2015 other than deferred tax	6,986,236	978,285	837,886	364,889	1,812,948	10,980,244

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OTHER NON-FINANCIAL ASSETS AND NON-FINANCIAL LIABILITIES

12 Months Ended

Dec. 31, 2017

Disclosure Of Other Non financial Assets And Non financial Liabilities [Abstract]

Disclosure Of Other Non financial Assets And Non financial Liabilities Explanatory [Text Block]

NOTE 25. OTHER NON-FINANCIAL ASSETS AND NON-FINANCIAL LIABILITIES

	12-31-2017		12-31-2016
Current non-financial assets	ThU.S.$		ThU.S.$
Roads to amortize current		43,301		41,812
Prepayment to amortize (insurance + others)		21,257		23,086
Recoverable taxes (Relating to purchases)		60,823		71,357
Other current non-financial assets		4,456		8,660
Total		129,837		144,915

	12-31-2017		12-31-2016
Non-current non-financial assets	ThU.S.$		ThU.S.$
Roads to amortize, non-current		112,937		121,894
Guarantee values		2,893		3,302
Recoverable taxes		1,835		1,493
Other non-current non-financial assets		3,856		3,630
Total		121,521		130,319

	12-31-2017		12-31-2016
Current non-financial liabilities	ThU.S.$		ThU.S.$
Provision of minimum dividend (1)		116,123		60,312
ICMS tax payable		12,593		14,856
Other tax payable		23,040		16,202
Other Current non-financial liablities		2,194		7,793
Total		153,950		99,163
(1) Provision includes a minimum dividend of subsidiary minority.

	12-31-2017		12-31-2016
Non-current non-financial liabilities	ThU.S.$		ThU.S.$
ICMS tax payable		110,532		58,606
Other non-current non-financial liablities		1,808		2,027
Total		112,340		60,633

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DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2017

DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE [Abstract]

Disclosure of earnings per share [text block]

NOTE 26. DISTRIBUTABLE NET Profit AND EARNINGS PER SHARE

Distributable net profit

As a general policy, the Board of Directors of Arauco agreed that the net profit to be distributed as dividend is determined based on realized net gains/(losses) of any relevant variations in the value of unrealized assets and liabilities, which are excluded from the calculation of net profit during the period such changes are made.

As a result of the foregoing, for purposes of determining the distributable net profit of the Company, which is the same considered for calculating the minimum dividend required and additional dividend, the following unrealized gains/losses are excluded from the net profit for the year:

1) Unrealized gains/losses relating to the fair value recorded for forestry assets under IAS 41, adding them back to distributable net profit when they are realized through sale or disposed of by other means.

2) Those generated through the acquisition of entities. These results will be added back to net profit when they are realized through sale.

The deferred taxes associated with the amounts described in 1) and 2) above are also excluded.

The following table details the adjustments made for the determination of distributable net profit as December 31, 2017, 2016 and 2015 in order to determine the provision of 40% of the distributable net profit for each year:

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2017		269,724
Adjustments:
Biological Assets
Unrealized gains/losses		(82,782)
Realized gains/losses		303,668
Deferred income taxes		(54,944)
Total adjustments		165,942
Distributable Net Profit at 12-31-2017		435,666

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2016		213,801
Adjustments:
Biological Assets
Unrealized gains/losses		(204,671)
Realized gains/losses		210,223
Deferred income taxes		2,089
Total adjustments		7,641
Distributable Net Profit at 12-31-2016		221,442

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2015		362,689
Adjustments:
Biological Assets
Unrealized gains/losses		(205,527)
Realized gains/losses		203,730
Deferred income taxes		(3,889)
Total adjustments		(5,686)
Distributable Net Profit at 12-31-2015		357,003

 

The Company expects to maintain its policy of distributing 40% of its net distributable profit as dividends for all future fiscal years, but will also consider the alternative of distributing a provisional dividend at year end.

As of December 31, 2017, in the Statements of Financial Position, under the line item Other current non-financial liabilities ThU.S.$113,773 correspond to a provision for the minimum dividend for the 2017 period, corresponding to the Parent Company, after discounting the provisional dividend distribution of ThU.S.$60,494, paid to the shareholders in December 2017.

Basic and diluted earnings per share

Basic and diluted earnings per share are calculated by dividing the profit or loss attributable to ordinary equity holders of parent by the weighted average number of ordinary shares outstanding. Arauco does not have any shares with potential dilutive effect.

	January-December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Profit or loss attributable to ordinary equity holder of parent		269,724		213,801		362,689
Weighted average of number of shares		113,159,655		113,159,655		113,159,655
Basic and diluted earnings per share (in U.S.$ per share)		2,3836		1,8894		3,2051

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SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2017

DisclosureOf Subsequent Events [Abstract]

Disclosure of events after reporting period [text block]

NOTE 27. SUBSEQUENT EVENTS

The authorization for the issuance and publication of these consolidated financial statements for the period ended December 31, 2017 was approved by the Board of Directors of Arauco on April 20, 2018.

Subsequent to December 31, 2017 and until the date of issuance of these consolidated financial statements, there have been no events, other than those discussed above, that could materially affect the presentation of these financial statements.

XML

PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Description of accounting policy for basis of preparation of consolidated financial statements [text block]

a) Basis for preparation of consolidated financial statements

These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and they represent the explicit and unreserved adoption of IFRS.

The consolidated financial statements have been prepared on the historical cost basis, except for biological assets and certain derivative financial instruments which are measured at revalued amounts or fair value at the end of each period as explained in the following significant accounting policies.

Description of accounting policy for critical accounting estimates and judgements [text block]

b) Critical accounting estimates and judgments

The preparation of these financial statements, in accordance with IFRS, requires management to make estimates and assumptions that affect the carrying amounts reported. These estimates are based on historical experience and various other assumptions that are considered to be reasonable. Actual results may differ from these estimates. Management believes that the accounting policies below are the critical judgments that have the most significant effect on the amounts recognized in the consolidated financial statements.

- Biological Assets

The recovery of forest plantations is based on discounted cash flow models which means that the fair value of biological assets is calculated using cash flows from continuing operations on a discounted basis, based on our sustainable forest management plans and the estimated growth of forests.

These discounted cash flows require estimates in growth, harvest, sales prices and costs; therefore, it is important that management make appropriate estimates of future levels and trends for sales and costs, as well as conduct regular surveys of the forests to establish the volumes of wood available for harvesting and their current growth rates. The main considerations used to measure forest plantations are presented in Note 20, including a sensitivity analysis.

- Goodwill

Goodwill represents the excess of the acquisition cost over the fair value of the Group’s holding in the identifiable net assets of the acquired subsidiary at the date of acquisition. The aforementioned fair value is determined whether based on assessments and/or the discounted future flow method using hypotheses in their determination, such as sales prices and industry indexes, among others. See Note 17.

- Litigation and Contingencies

Arauco and its subsidiaries are subject to certain litigation proceedings. Future impact on Arauco’s financial condition derived from such litigations is estimated by management, in collaboration with its legal advisors. Arauco applies judgment when interpreting the reports of its legal advisors who provide updated estimates of the legal contingencies at each reporting period and/or at each time a modification is determined to be necessary. For a description of current litigations see Note 18.

Description of accounting policy for basis of consolidation [text block]

c) Consolidation

The consolidated financial statements include all entities over which Arauco has the power to direct the relevant financial and operating activities. Subsidiaries are consolidated from the date on which control is obtained and up to the date that control ceases.

Specifically, a company controls an investee or subsidiary if, and only if, they have all of the following:

(a) power over the investee, i.e. the investor has existing rights which give it the ability to direct the relevant activities (the activities that significantly affect the investee's returns)

(b) exposure or rights to variable returns from involvement with the investee; and

(c) the ability to use power over the investee to affect the amount of the investor’s returns.

When Arauco holds less than the majority of voting rights in a company in which it participates, it nonetheless has the power over said company - when these voting rights are enough - to grant it in practice the ability to unilaterally direct said company's relevant activities. Arauco takes into account all facts and circumstances in order to assess if the voting rights in a company in which it participates are enough for granting it the power, including:

a) the size of the investor’s holding of voting rights relative to the size and dispersion of holdings of the other vote holders;

b) potential voting rights held by the investor, other vote holders or other parties;

c) rights arising from other contractual arrangements; and

d) any additional facts and circumstances that indicate the investor has, or does not have, the current ability to direct the relevant activities at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings.

The Company will reevaluate whether or not it holds control of a company in which participates if the facts and circumstances indicate that changes have occurred in one or more of the three elements of control mentioned above.

Consolidation of an investee shall begin from the date the investor obtains control of the investee and cease when the investor loses control of the investee. An entity includes the income and expenses of an acquired or sold subsidiary in the consolidated financial statements from the date it gains control until the date when the entity ceases to control the subsidiary.

The profit or loss of each component of other comprehensive income is attributed to owners of the parent company and the non-controlling interest, as appropriate. Total comprehensive income is attributed to the owners of the parent company and non-controlling interests even if the results of the non-controlling interest have a deficit balance.

If a subsidiary uses accounting policies other than those adopted in the consolidated financial statements for transactions and other events in similar circumstances, appropriate adjustments are made to the consolidated financial statements of subsidiaries in order to ensure compliance with Arauco's accounting policies.

All intercompany transactions and unrealized gains and losses from subsidiaries have been fully eliminated from consolidated financial statements and non-controlling interest is presented in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

The consolidated financial statements at the end of this period include the assets, liabilities, income and expenses of the subsidiaries shown in Note 13.

Certain consolidated subsidiaries have Brazilian Real and Chilean Pesos as their functional currencies. For consolidation purposes, the financial statements of those subsidiaries have been prepared in accordance with IFRS and translated into the presentation currency as indicated in Note 1 (e) (ii).

A parent company will present non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

Description of accounting policy for segment reporting [text block]

d) Segments

Arauco has defined its reportable segments according to its business areas, based on the products and services sold to its customers. This definition is consistent with the management, resource allocation and performance assessment made by key personnel responsible for making relevant decisions related to the Company’s operation. The Chief Operating Decision Maker (CODM) is the Chief Executive Officer who is responsible for making these decisions and it is supported by the Corporate Managing Directors of each segment.

Based on the aforementioned process, the Company has established reportable segments according to the following business units:

⋅ Pulp

⋅ Wood products

⋅ Forestry

Refer to Note 24 for detailed financial information by reportable segment.

Description of accounting policy for functional currency [text block]

e) Functional currency

(i) Functional currency

All items in the financial statements of Arauco and each of its subsidiaries, associates and jointly controlled entities are measured using the currency of the primary economic environment in which each entity operates (the functional currency). The consolidated financial statements are presented in U.S. dollars, which is Arauco’s functional and presentation currency.

(ii) Translation to the presentation currency of Arauco

For the purposes of presenting consolidated financial statements, assets and liabilities of Arauco’s operations in a functional currency different from Arauco’s are translated into U.S. dollars using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange rate differences are recognized in other comprehensive income and accumulated in “Other reserves” within–equity.

(iii) Foreign Currency Transactions

Transactions in currencies other than the functional currency are recognized at the exchange rates prevailing at the dates of the transactions. Profit or loss on transactions in currencies other than the functional currency resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognized in the statements of profit or loss, except those which are recorded in other comprehensive income and accumulated in equity such as cash flows hedging derivatives.

Description of accounting policy for determining components of cash and cash equivalents [text block]

f) Cash and cash equivalents

Cash and cash equivalents include cash-in-hand, deposits held on demand at banks and other short term highly liquid investments with an original maturity of three months or less and which are subject to an insignificant risk of changes in value.

Description of accounting policy for financial instruments [text block]

g) Financial Instruments

Financial assets

Financial assets are classified into the following specified categories: 'loans and receivables' and “derivative financial instruments”. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All purchases and sales of financial assets are recognized and derecognized on the trade date, which require delivery of assets within the same time frame established by regulation or convention in the marketplace.

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables are classified as current assets, except for those with maturities more than 12 months after the reporting period, which are classified as non-current assets. Loans and receivables include trade and other receivables.

Loans and receivables are initially recognized at fair value plus transaction costs that are directly attributable to the acquisition and are subsequently measured at amortized cost using the effective interest rate method, less any impairment.

Derivative financial instruments are explained in Note 1 h)

Financial liabilities

Financial liabilities (including borrowings and trade and other payables) are subsequently measured at amortized cost using the effective interest method.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that discounts estimated future cash payments (including all fees and amounts paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the net carrying amount on initial recognition.

Financial obligations are classified as current liabilities, unless Arauco holds an unconditional right to defer their settlement during at least 12 months after the balance sheet's date.

The estimate of the fair value of obligations with banks is determined using valuation techniques that include discounted cash flow analyses applying rates of similar loans. Bonds are appraised at market value.

Description of accounting policy for derivative financial instruments [text block]

h) Derivative financial instruments

(i) Derivative Financial Instruments - The Company enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign exchange rate risks, including foreign exchange forward contracts, interest rate swaps, currency swaps and zero cost collar contracts.  The Company’s policy is to enter into derivatives contracts only for economic hedging purposes and there are no instruments with speculation objectives.

Derivatives are initially recognized at fair value at the date the derivative contracts are entered into and are subsequently re-measured at fair value at the end of each reporting period. The resulting gain or loss is recognized in profit or loss unless the derivative is designated as a hedging instrument and complies with hedge accounting requirements of IAS 39, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

(ii) Embedded derivatives - The Company assesses the existence of embedded derivatives in financial instrument contracts. Derivatives embedded in non-derivative host contracts are treated as separate derivatives when they meet the definition of a derivative, their risks and characteristics are not closely related to those of the host contracts and the contracts are not measured at FVTPL as a whole. Arauco has determined that no embedded derivatives currently exist.

(iii) Hedge accounting - The Company designates certain hedging instruments as either fair value hedges or cash flow hedges.

At the inception of the hedge relationship, the entity documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, Arauco documents whether the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk.

-Fair Value Hedges under IAS 39- Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognized in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk. The change in the fair value of the hedging instrument and the change in the hedged item attributable to the hedged risk are recognized in profit or loss in the line item relating to the hedged item.

-Cash flow hedges under IAS 39 - The effective portion of changes in the fair value of derivatives that are designated and qualify as cash flow hedges is recognized in other comprehensive income and accumulated under the heading of cash flow hedging reserve. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss, and is included in the Finance costs line item in the consolidated statement of profit or loss. Amounts previously recognized in other comprehensive income are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognized hedged item.

Hedge accounting is discontinued when the Group revokes the hedging relationship, when the hedging instrument expires or is sold, terminated, or exercised, or when it no longer qualifies for hedge accounting. Any gain or loss recognized in other comprehensive income and accumulated in equity at that time remains in equity and is recognized when the forecasted transaction is ultimately recognized in profit or loss. When a forecasted transaction is no longer expected to occur, the gain or loss accumulated in equity is recognized immediately in profit or loss.

Description of accounting policy for measuring inventories [text block]

i) Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the weighted average cost method.

The cost of finished and in process products includes the cost of raw materials, direct labor, other direct costs and manufacturing overhead expenses.

Initial costs of harvested wood are determined at fair value less cost of sale at the point of harvest.

Biological assets are transferred to inventories when forests are harvested.

Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.

When market conditions result in the production costs of a product exceeding its net realizable value, the inventories are written-down to their net realizable value. This write-down also includes obsolescence amounts resulting from slow moving inventories and technical obsolescence.

Spare parts that will be consumed in a period of less than twelve months are presented in inventories and recognized as an expense when they are consumed.

Description of accounting policy for non-current assets or disposal groups classified as held for sale [text block]

j) Non-current assets held for sale

The Group classifies certain property, plant and equipment, intangible assets, investments in associates and disposal groups (groups of assets to be sold together with their directly associated liabilities) as non-current assets held for sale which as of the date of the statements of financial position are the subject of active sale efforts which are estimated to be highly probable. Non-current assets held for sale are presented separately from the other assets in the balance sheet.

These assets or disposal groups are measured at the lower of the carrying amount or the fair value less the costs to sell, and are no longer depreciated or amortized from the time they are classified as non-current assets held for sale.

Description of accounting policy for business combinations [text block]

k) Business Combinations

Arauco applies the acquisition method to account for a business combination. This method requires the identification of the acquirer, determination of the acquisition date, recognition and measurement of the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree; and recognition and measurement of goodwill or a gain from a bargain purchase. Identifiable assets acquired and liabilities assumed and any contingent liabilities in a business combination are initially measured at fair value at the acquisition date, except:

-deferred tax assets or liabilities, and assets or liabilities related to employee benefit arrangements are recognized and measured in accordance with IAS 12 Income Taxes and IAS 19 respectively;

-liabilities or equity instruments related to share-based payment arrangements of the acquiree or share-based payment arrangements of the Group entered into to replace share-based payment arrangements of the acquiree are measured in accordance with IFRS 3 at the acquisition date; and

-assets (or disposal groups) that are classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations are measured in accordance with such standard.

Acquisition-related costs are accounted for as expenses when they are incurred, except for costs to issue debt or equity securities which are recognized in accordance with IAS 32 and IAS 39.

A parent will present non-controlling interests in the consolidated statement of financial position within equity, separately from the equity of the owners of the parent company.

Changes in the ownership interest of a parent in its subsidiary that do not result in a loss of control are treated as equity transactions. Any difference between the amount by which non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to owners of the parent company. No adjustment is made to the carrying amount of goodwill, neither gains nor losses are recognized in the statement of profit or loss.

Non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in the event of liquidation may initially be measured either at fair value or at the present ownership instruments' proportionate share of non-controlling interests, in the recognized amounts of the acquirer’s identifiable net assets. The choice is made on a transaction-by-transaction basis.

Arauco measures the fair value of the acquired company in the business combination achieved in stage (“step acquisition”), recognizing the effects of remeasurement of previously held equity in the acquiree in the statements of profit or loss.

If the initial accounting for a business combination is not completed by the end of the reporting period in which the combination occurs, Arauco reports preliminary amounts for the items for which the accounting is incomplete. During the measurement period (no more than one year), these preliminary amounts are retrospectively adjusted, or additional assets or liabilities are recognized to reflect new information about facts and circumstances that existed at the acquisition date, if known, would have affected the amounts recognized at that date.

Business combinations that are under common control transactions are accounted using as a reference the pooling of interest. Under this method, assets and liabilities related to the transaction carry over the previous carrying values. Any difference between assets and liabilities included in the consolidation and the consideration transferred, is accounted in equity.

Description of accounting policy for investment in associates and joint ventures [text block]

l) Investments in associates and joint arrangements

Associates are entities over which Arauco exercises significant influence, but not control. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies.

Joint arrangement is defined as an entity over which there is joint control, which exists only when the decisions about strategic of activities, both financial and operational, require the unanimous consent of the parties sharing control.

Investments in joint arrangements are classified as a joint venture or as a joint operation. A joint operation is a joint arrangement in which the parties that have joint control of the arrangement (i.e. joint operators) have rights to the assets and obligations for the liabilities, relating to the arrangement. A joint venture is a joint arrangement in which the parties that have joint control of the arrangement (i.e., participants in a joint venture) have rights to the net assets of the arrangement.

Investments in associates and joint ventures are accounted for using the equity method and are initially recognized at cost. Their carrying amount is increased or decreased to recognize the portion corresponding to the statement of profit or loss or to the statement of comprehensive income. Dividends received are recognized by deducting the amount received from the carrying amount of the investment. Arauco’s investment in associates includes goodwill (both net of any accumulated impairment loss).

The investments in joint operations are recognized through consolidation of assets, liabilities and results of operations in relation to Arauco's ownership percentage.

Investments in associates and joint ventures are presented in the consolidated statement of financial position in the line item “Investments accounted for using equity method”.

If Arauco’s share of losses of an associate or joint venture equals or exceeds its interest in the associate or joint venture, Arauco discontinues recognizing its share of further losses. After Arauco's carrying value in the investee is reduced to zero, additional losses are provided for, and a liability is recognized, only to the extent that Arauco has incurred legal or constructive obligations or made payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, Arauco resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized.

Description of accounting policy for intangible assets other than goodwill [text block]

m) Intangible assets other than goodwill

After initial recognition, intangible assets with finite useful lives are carried at cost less any accumulated amortization and impairment losses.

Amortization of an intangible asset with a finite useful life is allocated over the asset’s useful life. Amortization begins when the asset is available for use, i.e., when it is in the location and condition necessary for it to be capable of operating in the manner intended by management.

(i) Computer Software

Computer software licenses are capitalized in terms of the costs incurred to acquire and make them compatible with existing software. These costs are amortized over the estimated useful lives of the software.

(ii) Water Rights, Easements and Other Rights

This item includes water rights, easements and other acquired rights recognized at historical cost which have indefinite useful lives as there is no foreseeable limit to the period over which these assets are expected to generate future cash flows. These rights are not amortized, but are tested for impairment at least annually, or when there is any indication that the assets might be impaired.

(iii) Customers and trade relations with customers

Correspond to the valuation over the time of the established relationship with customers, from the sale of products and services through its sales team. These relations will materialize in sales orders, which generate revenue and cost of sales. The useful life has been determined to be 15 years.

Description of accounting policy for goodwill [text block]

n) Goodwill

Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interest in the acquired company, and the fair value of the acquirer's previously held equity interest in the acquired company (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the statements of profit or loss.

Goodwill is not amortized but tested for impairment on annual basis.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For purposes of impairment testing, goodwill in a business combination is allocated as of the acquisition date to the cash generating unit or a group of cash generating units expected to benefit from the synergies of the combination irrespective of whether other assets or liabilities of the acquired company are allocated to those units or group of units.

The goodwill generated on acquisitions of foreign companies, is expressed in the functional currency of such foreign company.

Goodwill recognized for the acquisition of the subsidiary Arauco do Brasil S.A. whose functional currency is the Brazilian Real, is translated into U.S. Dollars at the closing exchange rate.

Description of accounting policy for property, plant and equipment [text block]

o) Property, Plant and Equipment

Property, plant and equipment are measured at cost less accumulated depreciation and accumulated impairment. The cost includes expenditures that are directly attributable to the acquisition of the assets.

Subsequent costs, such as improvements and replacement of components, are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to Arauco and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized from property, plant and equipment. All other repairs and maintenance costs are expensed in the period in which they are incurred.

Arauco capitalizes borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets as part of the cost of those assets, until the assets are ready for their intended use (See Note 12).

Depreciation is calculated by components using the straight-line method.

The useful lives of the items of property, plant and equipment is estimated according to the expected use of the assets. The residual values and useful lives of assets are reviewed and adjusted, if appropriate, annually.

Description of accounting policy for leases [text block]

p) Leases

Arauco applies IFRIC 4 to assess whether an arrangement is, or contains, a lease. Leases of assets in which Arauco substantially holds all the risks and rewards of ownership are classified as finance leases. All other leases are classified as operating leases.

Finance leases are initially recognized at the lower of the fair value at the inception of the lease of the leased property and the present value of the minimum lease payments.

When assets are leased under a finance lease, the present value of lease payments are recognized as financial accounts receivable. Finance income, which is the difference between the gross receivable and the present value of such amount, is recognized as the interest rate of return.

Leases in which substantially all risks and rewards are not transferred to the lessee are classified as operating leases. Payments under operating leases (net of any incentives received from the lessor) are recognized as an expense on a straight-line basis over the lease term.

Arauco evaluates the economic nature of the contracts that grant the right to use certain assets, for the purposes of determining the existence of implied leases. In these cases, the Company separates - at the beginning of the contract, and based on relative reasonable values - payments and considerations associated with the lease, from the rest of the elements incorporated to the contract.

Description of accounting policy for biological assets [text block]

q) Biological Assets

IAS 41 requires that biological assets, such as standing trees, are measured at fair value less cost to sell in the statement of financial position. Forestry plantations are accounted for at fair value less costs to sell, based on the presumption that fair values of these assets can be measured reliably.

The measurement of forestry plantations is based on discounted cash flow models whereby the fair value of the biological assets is determined using estimated future cash flows from continuing operations calculated using our sustainable forest management plans and including the estimated growth of the forests. This valuation is performed on the basis of each identifiable farm block and for each type of tree.

The measurement of new forestry plantations made during the current year is made at cost, which corresponds to the fair value at that date. After twelve months, the valuation methodology used is that explained in the preceding paragraph.

Biological assets shown as current assets correspond to those forestry plantations that will be harvested in the short term.

Biological growth and changes in fair value of forestry plantations are recognized in the line item “Other income” in the consolidated statement of profit or loss.

Description of accounting policy for income tax [text block]

r) Income taxes and deferred taxes.

The tax liabilities are recognized in the consolidated financial statements based on the determination of taxable income for the year and calculated using the tax rates in force in the countries where Arauco operates.

Deferred income tax is recognized using liability method, on the temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated annual accounts. Deferred income tax is determined using tax rates contained in laws adopted as of the date of the financial statements and that are expected to be applicable when the related deferred tax asset is realized or the deferred income tax liability is settled.

The goodwill arising on business combinations does not give rise to deferred tax.

The deferred tax assets and tax credits are generally recognized for all deductible temporary differences to the extent that it is probable that future taxable profit will be available against which those deductible temporary differences can be utilized.

Description of accounting policy for provisions [text block]

s) Provisions

Provisions are recognized when the Company has a present obligation, legal or constructive, as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period.

Description of accounting policy for recognition of revenue [text block]

t) Revenue recognition

Revenues are recognized when Arauco has transferred the risks and rewards of ownership to the buyer and Arauco has no right to dispose of the assets, nor effective control of such good.

(i) Revenue recognition from the Sale of Goods

Revenue from the sale of goods is recognized when Arauco has transferred to the buyer the significant risks and rewards of ownership of the goods, when the amount of revenue can be reliably measured, when Arauco does not retain any managerial involvement over the goods sold and when it is probable that the economic benefits associated with the transaction will flow to Arauco and the costs incurred in respect of the transaction can be measured reliably.

Sales are recognized in terms of the price agreed to in the sales contract, less any volume discounts and estimated product returns at the date of the sale. Volume discounts are evaluated in terms of estimated annual purchases. There is no significant financing component given that receivables from sales are collected within a short period, which is in line with market practices.

The structure for recognizing revenue from export sales is based on the 2010 Incoterms, which are the official rules for the interpretation of commercial terms issued by the International Chamber of Commerce.

The main Incoterms used by Arauco are the following:

“CFR (Cost and freight)”, where the company bears all costs including main transportation, until the products arrives at its port of destination. The risk is transferred to the purchaser once the products have been loaded onto the vessel, in the country of origin.

“CIF (Cost Insurance &; Freight)”, where the Company organizes and pays for external freight services and some other expenses. Arauco is no longer responsible for the products once they have been delivered to the ocean carrier company. The point of sale is the delivery of the products to the carrier chartered by the seller.

(ii) Revenue recognition from Rendering of Services

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue is recognized by reference to the stage of completion of the transaction at the date of the reporting period, and when it is probable that the economic benefits associated with the transaction will flow to the Arauco.

Arauco mainly provides power supply services which are transacted principally in the spot market of the Sistema Interconectado Central (“Central Interconnected System”). According to current regulations, the prices on that market called “Marginal Costs” are calculated by the Centro de Despacho Económico de Carga del Sistema Interconectado Central (CDEC–SIC) (“Economic Load Dispatch Center of the Central Interconnected System”) and are generally recognized in the period in which the services are rendered.

Electrical power is generated as a by-product of the pulp and wood process and is a complementary business to it, which is initially supplied to the group’s subsidiaries and any surplus is sold to the CDEC-SIC.

Arauco provides other non-core services such as port services and pest control whose revenues are derived from fixed price service contracts, generally recognized during the period of the service contract on a straight-line basis over the term of the contract.

Revenues from reportable segments mentioned in Note 24 are measured in accordance with the policies indicated in the preceding paragraphs.

Revenues from inter-segment sales (which are made at market prices) are eliminated in the consolidated financial statements.

Description of accounting policy for dividends [text block]

u) Minimum dividend

Article No. 79 of the Chilean Corporations Law states that, unless otherwise unanimously agreed by the shareholders, corporations must distribute annually at least 30% of net income for the current year as cash dividend to shareholders determined in proportion to their shares or in the proportion established in the by-laws for preferred shares, if any, except where necessary to absorb accumulated losses from prior years.

The General Shareholders’ Meeting of Arauco agreed to distribute annual dividends at 40% of net distributable income, including an interim dividend to be distributed at year end. Dividends payable are recognized as a liability in the financial statements in the period when they are declared and approved by the Arauco’s shareholders or when arises the corresponding present obligation based on existing legislation or distribution policies established by the Shareholders' Meeting.

The dividends payable provision is registered for 40% of the liquid distributable profit and against a lower equity, based on the yearly resolution of the Shareholders’ Meeting.

Dividends payable are presented in the line item “Other current non-financial liabilities” in the consolidated statement of financial position.

Description of accounting policy for earnings per share [text block]

v) Earning per share

Basic earnings per share are calculated by dividing the net profit for the period attributable to the parent company by the weighted average number of ordinary shares outstanding during the period, excluding the average number of shares in the Company held by a subsidiary, if such circumstance exists. Arauco has not performed any type of transaction with a potential dilutive effect that would cause diluted earnings per share to be different from basic earnings per share.

Description of accounting policy for impairment of assets [text block]

w) Impairment

Non-financial Assets

The recoverable amount of property, plant and equipment and other long-term assets with finite useful lives are measured whenever there are any circumstances indicating that the assets have to recognize an impairment loss. Among the circumstances to consider as evidence of impairment are significant declines in the assets’ market value, significant adverse changes in the technological environment, obsolescence or physical damages of assets and changes in the manner in which the asset is used or expected to be used). Arauco evaluates at the end of each reporting period whether there is any evidence of the indications above mentioned.

A previously recognized impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount however a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

For the purposes of assessing impairment losses, assets are grouped at the lowest level for which there is identifiable cash flows separately for each cash-generating unit. Non-financial assets, other than goodwill, which had recognized an impairment loss, are reviewed at the end of each reporting period whether there are any circumstances indicating that an impairment loss previously recognized may no longer exists or has decreased.

“Cash-generating units” are the smallest identifiable groups of those cash inflows that are largely independent of the cash inflow from other assets or groups of assets.

Goodwill

Goodwill and intangible assets with indefinite useful life are tested annually for impairment or whenever circumstances indicate it. The recoverable amount of an intangible asset is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognized whenever the carrying amount exceeds the recoverable amount.

A cash-generating unit, for which goodwill has been allocated, is tested for impairment annually or more frequently when there are circumstances indicating that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to other assets pro rata based on the carrying amount of each asset in the unit. Any impairment loss of goodwill is recognized directly in profit or loss. An impairment loss recognized for goodwill is not reversed in subsequent periods.

Goodwill is allocated to cash-generating units for impairment testing purposes. The allocation is made between cash-generating units or groups of cash generating units expected to benefit from the synergies of the combination.

Financial Assets

At the end of each reporting period, an assessment is performed in order to identify whether there is any objective evidence that a financial asset or a group of financial assets may have been impaired. Financial assets are impaired only when there is objective evidence that, as a result of one or more loss events that occurred after the initial recognition of a financial asset, the estimated future cash flows of the financial asset have been affected. Impairment losses are recognized in the consolidated statement of profit or loss.

An allowance for doubtful accounts is established based on an analysis of the maturity of the portfolio and considering the insurance coverage on accounts receivable. Other conditions are assessed, for example, when there is objective evidence of default or delinquency in payments under the original sale terms and when the customer enters into bankruptcy or financial reorganization, and is written-off when Arauco has exhausted all levels of recovery of the receivable in a reasonable time.

The allowance for doubtful accounts is measured as the difference between the carrying amount of receivables and the present value of estimated future cash flows. The carrying amount of the receivable is reduced through the use of the allowance. If the impairment loss decreases in later periods, it is reversed either directly or by adjusting the provision for doubtful accounts, with effect in profit or loss.

Description of accounting policy for employee benefits [text block]

x) Employee Benefits

Arauco constitutes labor obligations for severance payable in all circumstances for certain of its employees with at least 5 years of work in the Company, based on the terms of the staff’s collective and individual bargaining agreements.

The related provision is an estimate of the years of service to be recognized as a future labor obligation liability, in accordance with contracts between Arauco and its employees and pursuant to actuarial valuation criteria for this type of liability. This post-employment benefit is considered a defined benefit plan.

The main factors considered for calculating the actuarial value of severance obligation for years of service are employee turnover, salary increases and life expectancy of the workers included in this benefit.

Actuarial gains and losses are recognized in other comprehensive income in the year they are incurred.

These obligations are related to post-employee benefits in accordance with current standards.

Description of accounting policy for employee vacations [text block]

y) Employee Vacations

Arauco recognizes the expense for employee vacation according to labor legislation in each country on an accrual basis.

This obligation is presented in the line item “Trade and Other current payables” and “Trade and Other non-current payables” depending on their respective maturities in the consolidated statements of financial position.

Description of accounting policy for recent accounting pronouncements [text block]

z) Recent accounting pronouncements

a) Standards, interpretations and amendments that are mandatory for the first time for annual periods beginning on January 1, 2017:

Amendments and improvements	Content	Mandatory application for annual periods beginning on or after
IAS 7	Statements of Cash Flows	January 1, 2017
	Introduces additional disclosure that enable users of financial statements to evaluate changes in liabilities arising from financial activities.
IAS 12	Income taxes	January 1, 2017
	Clarifies the accounting for deferred tax assets relating to debt instruments measured at fair value.
IFRS 12	Disclosure of Interests in Other Entities.	January 1, 2017
	Clarifies the scope of this rule.

The adoption of the standards, amendments and interpretations described above did not have a significant impact on the Arauco’s Consolidated Financial Statements.

b) Standards, interpretations and amendments, the application of which is not yet mandatory, which have not been adopted in advance:

Standards and interpretations	Content	Mandatory application for annual periods beginning on or after
IFRS 9	Financial Instruments	January 1, 2018
	Supersedes IAS 39. This final version includes requirements for the classification and measurement of financial assets and liabilities and introduces an 'expected credit loss' model for the measurement of the impairment. Hedge accounting part was included in IFRS 9 published at November 2013.
IFRS 15	Revenue from Contracts with Customers	January 1, 2018
	Provides a single, principles based five-step model to be applied to all contracts with customers. The principles include information related to nature, amount, opportunity and uncerntainty of the revenue and cash flows from contracts with customers.
IFRS 16	Leases	January 1, 2019
	The standard provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.
IFRIC 22	Transactions in Foreign Currency and Anticipated Considerations	January 1, 2018
	Applies to a transaction in foreign currency (or partially in foreign currency) when an entity recognizes a non-financial asset or a non-financial liability arising from the payment or collection of an anticipated consideration, before recognizing the related asset, expense, or income.
IFRIC 23	Uncertain tax positions	January 1, 2019
	It clarifies the method of applying the acknowledgment and measurement requirements of IAS 12 when there is uncertainty regarding the fiscal treatments.
IFRS 17	Insurance Contracts	January 1, 2021
	Supersedes IFRS 4. It changes mainly the accounting for insurance contracts and inverstments contracts.

Amendments and improvements	Content	Mandatory application for annual periods beginning on or after
IFRS 1	First-time Adoption of International Financial Reporting Standards	January 1, 2018
	Deletes the short-term exemptions for first time adopters regarding to IFRS 7, IAS 9 and IFRS 10.
IFRS 2	Share-based payment	January 1, 2018
	Clarifies the measurement of cash settled share-based payment transactions and the accounting for amendments that change such payments to equity instruments.
IFRS 15	Revenue from contracts with customers.	January 1, 2018
	Introduces clarifications to the guidelines and examples related to the transition towards the new rule.
IFRS 4	Insurance contracts	January 1, 2018
	Introduces two approaches: overlap and temporary exemption of IFRS 9.
IAS 40	Investment properties	January 1, 2018
	Clarifies the requirements needed to transfer to, or from, investment properties.
IFRS 10 y IAS 28-Amendments	Sale or Contribution of assets among an Investor and its Associates or Joint Ventures.	Indeterminate
IAS 28	Investments in associates and joint ventures	January 1, 2018
	Measurement of the investments in associates and joint ventures at fair value.
IAS 28	Investments in associates and joint ventures	January 1, 2019
	It clarifies that an entity applies IFRS 9 Financial Instruments to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied.
IFRS 9	Financial instruments	January 1, 2019
	Allows assets to be measured at amortised cost.
IFRS 3	Business Combinations	January 1, 2019
	Clarifies that when an entity obtains control of a business that is a joint operation, it is a business combination achieve by steps.
IFRS 11	Joint Arrangements	January 1, 2019
	Clarifies that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.
IAS 12	Income taxes	January 1, 2019
	Clarifies the income tax consequences of dividends from financial instruments at amortized cost should be recognized according to the past transactions or events that generated distributable profits.
IAS 23	Borrowing Costs	January 1, 2019
	Clarifies that if any specific borrowing remains outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the general borrowings.

IFRS 9 - Financial Instruments.

IFRS 9 addresses the classification, measurement and derecognition of financial assets and financial liabilities. The standard includes new rules applicable to hedge accounting and a new impairment model for financial assets. The financial assets held by the Group mainly include: Mutual Fund Holdings, (hedge) Derivatives, and highly-liquid financial instruments.

Consequently, Arauco does not expect the new standard to have a significant impact in the classification and measurement of its financial assets.

IFRS 15 – Revenue from Contracts with Customers.

The new standard specifies how and when income will be recognized and increases the disclosures. The standard provides a single five-step model based on principles applicable to all contracts with clients. The standard will be in full force and effect as of January 1, 2018.

Arauco is a pulp and wood supplier in the global markets. Arauco’s contracts with clients can be clearly identified on the basis of purchase orders placed by such clients. Performance obligations are regularly explicitly defined as the products are delivered in accordance with the client’s contracts.

The main contracts with clients do not include additional separate performance obligations that would substantially change the timing of income recognition in accordance to IFRS 15, compared to current income recognition practices.

IFRS 15 requires separate presentation of contract assets and contract liabilities in the balance sheet. This will result in some reclassifications as of January 1, 2018 in relation to contract liabilities in relation to volume-based rebates, which are currently included in other balance sheet line items.

Arauco intends to adopt the standard using the modified retrospective approach which means that the cumulative impact of the adoption will be recognized in retained earnings as of January 1, 2018 and that comparatives will not be restated.

IFRS 16 - Leases

IFRS 16 was issued in January 2016. The new standard will result in recognizing practically all leases in the balance sheet, because the distinction between operational and financial leases was eliminated. Under the new standard an asset (the right to use the leased property) as well as a financial liability is recognized for lease payments. Short-term and low-value leases are an exception to this standard. This standard will be in full force and effect as of January 1, 2019.

The group’s main assets are held under financial leases by Arauco and its affiliates, and therefore we do not expect that the new standard will have a significant impact on the financial statements. However, the group has yet to evaluate which other adjustments, if any, would be necessary due to changes in the definition of the term of the lease and the various treatments of variable rent payments and extension and termination options. Therefore, it is not yet possible to estimate the value of the right to use the assets and liabilities under leases that will be recognized upon the implementation of the new standard, or how this could affect the group’s earnings or losses and the classification of future cash flows.

According to the performed evaluations, the adoption of the other standards, amendments and interpretations described above will not have a significant impact on Arauco’s Consolidated Financial Statements during its initial application period.

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DISCLOSURE OF OTHER INFORMATION (Tables)

12 Months Ended

Dec. 31, 2017

DISCLOSURE OF OTHER INFORMATION [Abstract]

Disclosure of issued capital [text block]

	12-31-2017		12-31-2016
Description of Ordinary Capital Share Types	100% of Capital corresponds to ordinary shares
Number of Authorized Shares by Type of Capital in Ordinary Shares	113,159,655
Nominal Value of Shares by Type of Capital in Ordinary Shares	ThU.S.$0.0031210 per share
Amount of Capital in Shares by Type of Ordinary Shares that Constitute Capital	ThU.S.$353,618
	12-31-2017		12-31-2016
Number of Shares Issued and Fully Paid by Type of Capital in Ordinary Shares		113,159,655

Disclosure of dividends [text block]

The following are the dividends paid and per share amounts during the periods 2017, 2016 and 2015:

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-20-2017
Amount of Dividend		ThU.S.$60,494
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.53459

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-10-2017
Amount of Dividend		ThU.S.$59,005
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.52143

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-14-2016
Amount of Dividend		ThU.S.$29,572
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.26133

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-11-2016
Amount of Dividend		ThU.S.$99,221
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share, Ordinary Shares		U.S.$0.87683

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		12-16-2015
Amount of Dividend		ThU.S.$43,580
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share, Ordinary Shares		U.S.$0.38512

Detail of Dividend Paid, Ordinary Shares
Dividend Paid	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares
Date of Dividend Paid		05-12-2015
Amount of Dividend		ThU.S.$98,072
Number of Shares for which Dividends are Paid		113,159,655
Dividend per Share		U.S.$0.86667

Disclosure of detailed information about other financial information [Text Block]

The table below sets forth other income, other expenses, finance income, finance costs and share of profit (loss) of associates and joint ventures for the years ended December 31, 2017, 2016 and 2015 are as follows:

	January - December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Classes of Other Income
Other Income, Total		111,513		257,863		273,026
Gain from changes in fair value of biological assets (See note 20)		83,031		208,562		210,479
Net income from insurance compensation		1,305		3,222		1,522
Revenue from export promotion		3,542		2,350		2,692
Lease income		3,061		4,687		2,654
Gain on sales of assets		13,444		17,485		11,849
Gain on business combination achieved in stages		-		-		8,744
Access easement		565		3,756		8,160
Recovery of tax credits		-		2,033		8,081
Other operating results (*)		6,565		15,768		18,845
Classes of Other Expenses by activity
Total of Other Expenses by activity		(240,165)		(77,415)		(83,388)
Depreciation		(1,880)		(562)		(1,407)
Legal expenses		(3,882)		(5,087)		(5,082)
Impairment provision for property, plant and equipment and others		(33,240)		(14,979)		(12,321)
Operating expenses related to plants stoppage		(5,861)		(3,926)		(3,917)
Expenses related to projects		(2,139)		(1,620)		(532)
Loss of asset sales		(4,691)		(2,283)		(2,475)
Loss and repair of assets		(3,739)		(1,307)		(316)
Loss of forest due to fires (**)		(138,139)		(15,193)		(34,850)
Other Taxes		(17,463)		(8,261)		(8,981)
Research and development expenses		(2,594)		(2,684)		(2,604)
Fines, readjustments and interests		(3,675)		(1,004)		(1,139)
Loss on disposal of associates		-		(10,369)		-
Others rentals no operational		(1,877)		-		-
Other expenses		(20,985)		(10,140)		(9,764)
Classes of financing income
Financing income, total		19,640		29,701		50,284
Financial income from mutual funds - term deposits		11,023		11,439		15,128
Financial income resulting from swap - forward instruments		3,602		7,226		4,439
Financial income resulting from loans with related companies		-		-		17,629
Other financial income		5,015		11,036		13,088
Classes of financing costs
Financing costs, Total		(287,958)		(258,467)		(262,962)
Interest expense, Banks loans		(31,014)		(33,224)		(40,690)
Interest expense, Bonds		(223,602)		(183,203)		(189,526)
Interest expense, other financial instruments		(15,706)		(17,221)		(7,260)
Other financial costs		(17,636)		(24,819)		(25,486)
Share of profit (loss) of associates and joint ventures accounted for using equity method
Total		17,017		23,939		6,748
Investments in associates		4,855		16,348		5,573
Joint ventures		12,162		7,591		1,175

(*) ”Other operating results” includes income from interests, extraction of sand and gravel from wharfage and indemnities, among others.

(**) Loss of forest due to fires are presented net of ThU.S.$35,000 from insurance compensation as of December 2017.

Disclosure of expenses by nature [text block]

The analysis of expenses by nature contained in these consolidated financial statements is presented below:

	January - December
Cost of sales	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Timber		725,114		736,399		641,821
Forestry labor costs		631,276		600,320		636,100
Depreciation and amortization		389,847		377,983		371,851
Maintenance costs		262,764		313,500		305,701
Chemical costs		517,478		479,335		539,856
Sawmill Services		109,776		117,340		128,801
Other Raw Materials		188,874		221,950		226,342
Other Indirect costs		178,447		143,074		138,900
Energy and fuel		186,041		139,527		172,077
Cost of electricity		42,008		39,960		41,674
Wage and salaries		342,907		329,517		308,302
Total		3,574,532		3,498,905		3,511,425

	January - December
Distribution cost	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Selling costs		39,175		33,557		48,160
Commissions		14,880		13,880		15,801
Insurance		3,620		3,216		4,601
Provision for doubtful accounts		(245)		910		3,137
Other selling costs		20,920		15,551		24,621
Shipping and freight costs		484,125		462,916		480,310
Port services		30,996		28,028		26,216
Freights		384,523		357,442		387,081
Other shipping and freight costs		68,606		77,446		67,013
Total		523,300		496,473		528,470

	January - December
Administrative expenses	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Wages and salaries		218,720		198,042		227,407
Marketing, advertising, promotion and publications expenses		10,046		9,937		10,422
Insurances		17,122		21,526		28,216
Depreciation and amortization		28,210		29,285		24,587
Computer services		27,193		27,735		31,897
Lease rentals (offices, other property and vehicles)		14,195		13,391		13,527
Donations, contributions, scholarships		12,772		10,396		11,172
Fees (legal and technical advisors)		43,107		43,809		49,556
Property taxes, city permits and rights		17,281		15,962		19,196
Cleaning services, security services and transportation		25,153		26,975		25,638
Third-party variable services (maneuvers, logistics)		46,097		40,277		56,093
Basic services		8,423		8,653		9,395
Maintenance and repair		5,579		7,617		8,361
Seminars, courses, training materials		2,526		3,560		5,156
Other administration expenses		44,870		17,304		31,354
Total		521,294		474,469		551,977

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INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Inventories [Abstract]

Disclosure of detailed information about inventories [Text Block]

	12-31-2017	12-31-2016
Components of Inventory	ThU.S.$	ThU.S.$
Raw materials	103,049	61,252
Production supplies	98,548	102,760
Work in progress	56,194	59,332
Finished goods	441,726	468,544
Spare Parts	168,945	160,724
Total Inventories	868,462	852,612

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CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Cash And Cash Equivalents [Abstract]

Disclosure of detailed information about cash and cash equivalents [Text Block]

As of the date of these consolidated financial statements, there are no amounts of cash and cash equivalents with restrictions on use.

	12-31-2017	12-31-2016
Components of Cash and Cash Equivalents	ThU.S.$	ThU.S.$
Cash on hand	148	3,156
Bank checking account balances	209,037	146,290
Time deposits	292,105	247,391
Mutual funds	73,170	195,416
Other cash and cash equivalents (*)	15,426	-
Total	589,886	592,253

(*) Applies to purchase contracts resale commitments.

Disclosure of detailed information about risk classification of mutual funds investments [Text Block]

The risk classification of the mutual funds in effect as of December 31, 2017 and December 31, 2016 is shown below.

	December 2017 ThU.S.$	December 2016 ThU.S.$
AAAfm	70,808	192,895
AAfm	2,362	2,521
Total Mutual Funds	73,170	195,416

Changes in Financial Liabilities

		Cash Flow
	Opening balance	Borrowings	Borrowings	Interest	Accrued	Inflation	Non-cash	Closing balance
	12-31-2016	obtained	paid	paid	interest	adjustment	movements	12-31-2017
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Borrowings from banks	914,358	421,309	(481,205)	(28,141)	27,894	(439)	4,681	858,457
Hedging liabilities	87,364	-	-	-	-	-	(81,971)	5,393
Bonds and promissory notes	3,452,658	891,172	(1,146,506)	(233,045)	218,326	122,324	(2,244)	3,302,685
Total	4,454,380	1,312,481	(1,627,711)	(261,186)	246,220	121,885	(79,534)	4,166,535

		Cash Flow
	Opening balance	Borrowings	Borrowings	Interest	Accrued	Inflation	Non-cash	Closing balance
	12-31-2015	obtained	paid	paid	interest	adjustment	movements	12-31-2016
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Borrowings from banks	997,542	550,226	(645,211)	(27,692)	27,471	9	12,013	914,358
Hedging liabilities	227,568	-	-	-	-	-	(140,204)	87,364
Bonds and promissory notes	3,180,334	187,427	-	(163,881)	165,017	79,923	3,838	3,452,658
Total	4,405,444	737,653	(645,211)	(191,573)	192,488	79,932	(124,353)	4,454,380

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INCOME TAXES AND DEFERRED TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Income Tax [Abstract]

Disclosure of detailed information about deferred tax assets [Text Block]

Deferred Tax Assets

The following table sets forth the deferred tax assets as of the dates indicated:

	12-31-2017	12-31-2016
Deferred Tax Assets	ThU.S.$	ThU.S.$
Deferred tax Assets relating to Provisions	7,433	5,771
Deferred tax Assets relating to Accrued Liabilities	11,267	11,716
Deferred tax Assets relating to Post-Employment benefits	19,276	17,618
Deferred tax Assets relating to Property, Plant and equipment	11,657	9,806
Deferred tax Assets relating to Financial Instruments	4,348	12,699
Deferred tax Assets relating to Tax Loss Carryforward	62,706	50,917
Deferred tax Assets relating to Inventories	5,941	7,158
Deferred tax Assets relating to Provisions for Income	21,354	7,069
Deferred tax Assets relating to Allowance for Doubtful Accounts	5,149	4,886
Intangible revaluation differences	10,389	10
Deferred tax Assets relating to Other Deductible Temporary Differences	27,364	22,985
Total Deferred Tax Assets	186,884	157,866
Offsetting presentation	(178,618)	(151,769)
Net Effect	8,266	6,097

Disclosure of detailed information about deferred tax liabilities [Text Block]

Deferred Tax Liabilities

The following table sets forth the deferred tax liabilities as of the dates indicated:

	12-31-2017	12-31-2016
Deferred Tax Liabilities	ThU.S.$	ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment	860,498	934,892
Deferred tax Liabilities relating to Financial Instruments	12,684	7,186
Deferred tax Liabilities relating to Biological Assets	676,876	719,577
Deferred tax Liabilities relating to Inventory	32,580	31,072
Deferred tax Liabilities relating to Prepaid Expenses	41,600	42,881
Deferred tax Liabilities relating to Intangible	22,014	27,222
Deferred tax Liabilities relating to Other Taxable Temporary Differences	17,731	20,004
Total Deferred Tax Liabilities	1,663,983	1,782,834
Offsetting presentation	(178,618)	(151,769)
Net Effect	1,485,365	1,631,065

Disclosure of reconciliation of deferred tax assets and liabilities [Text Block]

Reconciliation of deferred tax assets and liabilities

	Opening Balance 01-01-2017		Deferred tax Expenses (Income)		Deferred tax of items charged to other comprehensive income		Increase (decrease) through Business Combination		Increase (decrease) Net exchange differences		Closing balance 12-31-2017
Deferred Tax Assets	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Deferred tax Assets relating to Provisions		5,771		931		-		726		5		7,433
Deferred tax Assets relating to Accrued Liabilities		11,716		(405)		-		-		(44)		11,267
Deferred tax Assets relating to Post-Employment benefits		17,618		2,286		(673)		-		45		19,276
Deferred tax Assets relating to Property, Plant and equipment		9,806		1,850		-		-		1		11,657
Deferred tax Assets relating to Financial Instruments		12,699		1,414		(9,764)		-		(1)		4,348
Deferred tax Assets relating to Tax Loss Carryforward		50,917		7,271		-		6,093		(1,575)		62,706
Deferred tax Assets relating to Inventories		7,158		(1,435)		-		221		(3)		5,941
Deferred tax Assets relating to Provisions for Income		7,069		(3,697)		-		-		-		3,372
Deferred tax Assets relating to Allowance for Doubtful Accounts		4,886		(854)		-		1,133		(16)		5,149
Intangible revaluation differences		10		(954)		-		11,333		-		10,389
Deferred tax Assets relating to Other Deductible Temporary Differences		30,216		6,943		-		9,134		(948)		45,345
Total Deferred Tax Assets		157,866		13,350		(10,437)		28,640		(2,536)		186,883

	Opening Balance 01-01-2017		Deferred tax Expenses (Income)		Deferred tax of items charged to other comprehensive income		Increase (decrease) Through Business Combination		Increase (decrease) Net exchange differences		Closing balance 12-31-2017
Deferred Tax Liabilities	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment		934,892		(82,445)		-		9,735		(1,684)		860,498
Deferred tax Liabilities relating to Financial Instruments		7,186		5,497		-		-		1		12,684
Deferred tax Liabilities relating to Biological Assets		719,577		(79,947)		-		37,246		(751)		676,876
Deferred tax Liabilities relating to Inventory		31,072		1,508		-		-		-		32,580
Deferred tax Liabilities relating to Prepaid Expenses		42,881		(1,281)		-		-		-		41,600
Deferred tax Liabilities relating to Intangible		27,222		(4,880)		-		-		(328)		22,014
Deferred tax Liabilities relating to Other Taxable Temporary Differences		20,004		(6,730)		-		4,467		(10)		17,731
Total Deferred Tax Liabilities		1,782,834		(168,278)		-		52,199		(2,772)		1,663,983

	Opening  Balance 01-01-2016	Deferred tax Expenses (Income)	Deferred tax of items charged to other comprehensive income	Increase (decrease) Net exchange differences	Closing balance 12-31-2016
Deferred Tax Assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred tax Assets relating to Provisions	13,498	(8,019)	-	292	5,771
Deferred tax Assets relating to Accrued Liabilities	8,535	3,181	-	-	11,716
Deferred tax Assets relating to Post-Employment benefits	15,480	579	1,509	50	17,618
Deferred tax Assets relating to Property, Plant and equipment	7,730	2,076	-	-	9,806
Deferred tax Assets relating to Financial Instruments	21,805	1,500	(10,606)	-	12,699
Deferred tax Assets relating to Tax Loss Carryforward	35,751	11,498	-	3,668	50,917
Deferred tax Assets relating to Inventories	4,240	2,918	-	-	7,158
Deferred tax Assets relating to Provisions for Income	3,997	3,050	-	22	7,069
Deferred tax Assets relating to Allowance for Doubtful Accounts	4,572	261	-	53	4,886
Intangible revaluation differences	56	(46)	-	-	10
Deferred tax Assets relating to Other Deductible Temporary Differences	24,587	3,593	-	2,036	30,216
Total Deferred Tax Assets	140,251	20,591	(9,097)	6,121	157,866

	Opening Balance 01-01-2016	Deferred tax Expenses (Income)	Deferred tax of items charged to other comprehensive income	Increase (decrease) Net exchange differences	Closing balance 12-31-2016
Deferred Tax Liabilities	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred tax Liabilities relating to Property, Plant and Equipment	930,608	(1,065)	-	5,349	934,892
Deferred tax Liabilities relating to Financial Instruments	6,376	810	-	-	7,186
Deferred tax Liabilities relating to Biological Assets	693,103	12,642	-	13,832	719,577
Deferred tax Liabilities relating to Inventory	31,912	(840)	-	-	31,072
Deferred tax Liabilities relating to Prepaid Expenses	40,907	2,078	-	(104)	42,881
Deferred tax Liabilities relating to Intangible	26,419	(528)	-	1,331	27,222
Deferred tax Liabilities relating to Other Taxable Temporary Differences	26,203	(9,229)	-	3,030	20,004
Total Deferred Tax Liabilities	1,755,528	3,868	-	23,438	1,782,834

Disclosure of temporary difference, unused tax losses and unused tax credits [text block]

Temporary Differences

The following tables summarize the deductible and taxable temporary differences:

	12-31-2017		12-31-2016
	Deductible	Taxable	Deductible	Taxable
Detail of classes of Deferred Tax	Difference	Difference	Difference	Difference
Temporary Differences	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Deferred Tax Assets	124,178		106,949
Deferred Tax Assets - Tax loss carryforward	62,706		50,917
Deferred Tax Liabilities		1,663,983		1,782,834
Total	186,884	1,663,983	157,866	1,782,834

	January - December
Detail of Temporary Difference Income	2017	2016	2015
and Loss Amounts	ThU.S.$	ThU.S.$	ThU.S.$
Deferred Tax Assets	6,079	9,093	(15,306)
Deferred Tax Assets - Tax loss carryforward	7,270	11,498	(959)
Deferred Tax Liabilities	168,279	(3,868)	(26,259)
Total	181,628	16,723	(42,524)

Disclosure of detailed information about income tax expense [Text Block]

Income Tax Expense

Income tax expense consists of the following:

	January - December
	2017	2016	2015
Income Tax composition	ThU.S.$	ThU.S.$	ThU.S.$
Current income tax expense	(155,292)	(58,831)	(87,908)
Tax benefit arising from unrecognized tax assets previously used to reduce current tax expense	3,018	-	-
Prior period current income tax adjustments	(227)	(6,899)	4,033
Other current benefit tax (expenses)	1,865	3,360	(3,295)
Current Tax Expense, Net	(150,636)	(62,370)	(87,170)
Deferred tax expense relating to origination and reversal of temporary differences	174,358	5,225	(41,565)
Tax benefit arising from previously unrecognized tax loss carryforward	7,270	11,498	(959)
Total deferred Tax benefit (expense), Net	181,628	16,723	(42,524)
Income Tax benefit (expense), Total	30,992	(45,647)	(129,694)

Disclosure of income tax expenses by geographical area wise [Text Block]

The following table presents the current income tax expense detailed by foreign and domestic (Chile) companies at December 31, 2017, 2016 and 2015:

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Foreign current income tax expense	(28,071)	(27,931)	(33,129)
Domestic current income tax expense	(122,565)	(34,439)	(54,041)
Total current income tax expense	(150,636)	(62,370)	(87,170)
Foreign deferred tax benefit (expense)	94,228	7,794	(17,240)
Domestic deferred tax benefit (expense)	87,400	8,929	(25,284)
Total deferred tax benefit (expense)	181,628	16,723	(42,524)
Total tax benefit (expense)	30,992	(45,647)	(129,694)

Disclosure of detailed information about reconciliation of income tax expense [Text Block]

Reconciliation of income tax expense from statutory tax rate to the effective tax rate.

The reconciliation of income tax expense is as follows:

	January - December
Reconciliation of Income tax from Statutory Rate to Effective Tax	2017		2016		2015
Rate	ThU.S.$		ThU.S.$		ThU.S.$
Statutory domestic (Chile) income tax rate	25.5	%	24.0	%	22.5	%
Tax Expense at statutory tax rate	(61,037)		(63,174)		(111,916)
Tax effect of foreign tax rates	(7,118)		(13,368)		(16,099)
Tax effect of revenues exempt from taxation	40,133		33,834		41,268
Tax effect of not deductible expenses	(28,783)		(10,987)		(40,866)
Tax rate effect of tax loss carry forwards	(44)		-		14
Tax effect of Previously Unrecognized Tax Benefit in the Statements of Profit or Loss	195		-		(857)
Tax effect of a new evaluation of assets for deferred not recognized taxes	5,311		17,157		307
Tax rate effect from change in tax rate (opening balances)	78,946		(3,681)		(3,445)
Tax rate effect of adjustments for current tax of prior periods	(227)		(6,899)		4,033
Other tax rate effects	3,616		1,471		(2,128)
Total adjustments to tax expense at applicable tax rate	92,029		17,527		(17,778)
Tax benefit (expense) at effective tax rate	30,992		(45,647)		(129,694)

XML

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Property Plant And Equipments [Abstract]

Disclosure of detailed information about property, plant and equipment [text block]

	12-31-2017	12-31-2016
Property, Plant and Equipment, Net	ThU.S.$	ThU.S.$
Construction work in progress	597,351	321,031
Land	1,008,310	991,450
Buildings	2,135,201	2,169,731
Plant and equipment	3,112,755	3,256,348
Information technology equipment	22,665	24,154
Fixtures and fittings	12,297	9,880
Motor vehicles	15,959	16,858
Other property, plant and equipment	129,761	130,043
Total Net	7,034,299	6,919,495
Property, Plant and Equipment, Gross
Construction work in progress	597,351	321,031
Land	1,008,310	991,450
Buildings	3,926,157	3,825,259
Plant and equipment	6,410,561	6,128,494
Information technology equipment	82,765	76,421
Fixtures and fittings	40,388	33,613
Motor vehicles	49,756	48,534
Other property, plant and equipment	159,720	153,838
Total Gross	12,275,008	11,578,640
Accumulated depreciation and impairment
Buildings	(1,790,956)	(1,655,528)
Plant and equipment	(3,297,806)	(2,872,146)
Information technology equipment	(60,100)	(52,267)
Fixtures and fittings	(28,091)	(23,733)
Motor vehicles	(33,797)	(31,676)
Other property, plant and equipment	(29,959)	(23,795)
Total	(5,240,709)	(4,659,145)

The following tables set forth the reconciliation of the carrying amount of property, plant and equipment as of December 31, 2017 and December 31, 2016:

	Construction work in progress	Land	Buildings	Plant and equipment	IT Equipment	Fixtures and fittings	Motor vehicles	Other Property, Plant and Equipment	TOTAL
Movement of Property, Plant and Equipment	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance 01-01-2017	321,031	991,450	2,169,731	3,256,348	24,154	9,880	16,858	130,043	6,919,495
Changes
Additions	440,394	277	12,932	65,938	787	556	2,161	10,788	533,833
Acquisitions through business combinations	3,460	4,009	17,214	46,415	164	986	241	2,022	74,511
Disposals	-	(1,878)	(48)	(5,492)	(26)	(26)	(292)	(262)	(8,024)
Retirements	(1,585)	(75)	(3,809)	(3,900)	(4)	(29)	(127)	(7,211)	(16,740)
Depreciation	-	-	(125,692)	(311,819)	(6,080)	(2,268)	(3,546)	(5,421)	(454,826)
Impairment loss recognized in profit or loss	(208)	-	(769)	(8,271)	(5)	(310)	-	(338)	(9,901)
Increase (decrease) through net exchange differences	290	(2,728)	961	(2,394)	51	(31)	67	69	(3,715)
Reclassification of assets held for sale	(418)	-	-	84	-	-	-	-	(334)
Increase (decrease) through transfers from construction in progress	(165,613)	17,255	64,681	75,846	3,624	3,539	597	71	-
Total changes	276,320	16,860	(34,530)	(143,593)	(1,489)	2,417	(899)	(282)	114,804
Closing balance 12-31-2017	597,351	1,008,310	2,135,201	3,112,755	22,665	12,297	15,959	129,761	7,034,299

	Construction work in progress	Land	Buildings	Plant and equipment	IT Equipment	Fixtures and fittings	Motor vehicles	Other Property, Plant and Equipment	TOTAL
Movement of Property, Plant and Equipment	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance 01-01-2016	251,519	951,638	2,182,643	3,346,675	26,210	11,860	16,721	109,130	6,896,396
Changes
Additions	317,159	6,350	7,966	59,997	554	269	1,281	25,618	419,194
Disposals	(44)	(1,107)	(443)	(2,382)	(105)	-	(199)	(1,607)	(5,887)
Retirements	(1,754)	(295)	(926)	(2,209)	(24)	(8)	(30)	(2,811)	(8,057)
Depreciation	-	-	(122,257)	(330,876)	(5,352)	(1,970)	(3,969)	(4,729)	(469,153)
Impairment loss recognized in profit or loss	-	-	9	(1,254)	(7)	(1)	-	(1,553)	(2,806)
Increase (decrease) through net exchange differences	6,610	30,514	(2,388)	51,224	134	116	112	3,145	89,467
Reclassification of assets held for sale	-	-	-	341	-	-	-	-	341
Increase (decrease) through transfers from construction in progress	(252,459)	4,350	105,127	134,832	2,744	(386)	2,942	2,850	-
Total changes	69,512	39,812	(12,912)	(90,327)	(2,056)	(1,980)	137	20,913	23,099
Closing balance 12-31-2016	321,031	991,450	2,169,731	3,256,348	24,154	9,880	16,858	130,043	6,919,495

Disclosure of commitments related to proprty, plant and equipment [Text Block]

Disbursements commitments for the acquisition of property, plant and equipment and disbursements for property, plant and equipment under construction.

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Amount committed for the acquisition of property, plant and equipment	112,924	122,757

Disclosure of depreciation and amortisation expense [text block]

The depreciation expense for the period ending December 31, 2017, 2016 and 2015 is as follows:

	January-December
	2017	2016	2015
Depreciation for the year	ThU.S.$	ThU.S.$	ThU.S.$
Cost of sales	381,725	371,170	365,401
Administrative expenses	23,005	21,546	19,084
Other expenses	3,494	2,119	3,707
Total	408,224	394,835	388,192

Disclosure of useful lives of property, plant and equipment [Text Block]

The useful lives of property, plant and equipment are estimated based on the expected use of the assets. The average useful lives by asset class are as follow:

	Years of Useful Life (Average)
Buildings	58
Plant and equipment	30
Information technology equipment	8
Fixtures and fittings	28
Motor vehicles	7
Other property, plant and equipment	14

XML

LEASES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Leases [Abstract]

Disclosure of recognised finance lease as assets by lessee [text block]

Araucoacting as lessee

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Property, Plant and Equipment under finance leases	116,534	117,206
Plant and equipment	116,534	117,206

Disclosure of finance lease and operating lease by lessee [text block]

Reconciliation of Financial Lease Minimum Payments:

	12-31-2017
	Present Value
Periods	ThU.S.$
Less than one year	44,341
Between one and five years	68,035
More than five years	-
Total	112,376

	12-31-2016
	Present Value
Periods	ThU.S.$
Less than one year	40,400
Between one and five years	73,586
More than five years	-
Total	113,986

Disclosure of finance lease and operating lease by lessor [text block]

Reconciliation of Financial Lease Minimum Payments:

	12-31-2017
	Gross	Interest	Present Value
Periods	ThU.S.$	ThU.S.$	ThU.S.$
Less than one year	12,001	69	11,932
Between one and five years	1,174	-	1,174
More than five years	-	-	-
Total	13,175	69	13,106

	12-31-2016
	Gross	Interest	Present Value
Periods	ThU.S.$	ThU.S.$	ThU.S.$
Less than one year	512	-	512
Between one and five years	353	-	353
More than five years	-	-	-
Total	865	-	865

XML

REVENUE (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Revenue [Abstract]

Disclosure of detailed information about revenue [Text Block]

	January - December
	2017	2016	2015
Classes of revenue	ThU.S.$	ThU.S.$	ThU.S.$
Revenue from sales of goods	5,133,339	4,649,581	5,018,138
Revenue from rendering of services	105,002	111,804	128,602
Total	5,238,341	4,761,385	5,146,740

XML

EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Employee Benefits [Abstract]

Disclosure of detailed information about employee benefits expenses [Text Block]

Classes of Benefits and Expenses by Employee

	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Employee expenses	563,117	532,957	537,629
Wages and salaries	542,981	506,993	519,066
Severance indemnities	20,136	25,964	18,563

Disclosure of defined benefit plans [text block]

	2017	2016	2015
Discount rate	5.11%	4.52%	4.91%
Inflation	2.77%	2.79%	2.95%
Annual rate of wage growth	5.22%	5.22%	5.22%
Mortality rate (1)	RV-2014	RV-2009	RV-2009

(1) For the purposes of determining the technical reserves, Chilean annuity providers are required by law to utilize the mortality tables specified by the SVS (currently Chilean Commission for the Financial Market). The most recent table is the RV-2014, which is based on Chilean pensioner experience from 2006-2013 (SP &; SVS, 2013). The mortality tables distinguish between males and females.

Disclosure of sensitivity analysis for actuarial assumptions [text block]

Sensitivities to assumptions	2017 ThU.S.$
Discount rate
Increase in 100 bps	(5,170)
Decrease in 100 bps	6,018
Wage growth rates
Increase in 100 bps	5,590
Decrease in 100 bps	(5,212)

Disclosure of net defined benefit liability (asset) [text block]

The following tables set forth the balances and the reconciliation of the present value of severance indemnities obligations as of December 31, 2017 and December 31, 2016:

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Current	5,730	5,244
Non-current	66,033	60,084
Total	71,763	65,328

	12-31-2017	12-31-2016
Reconciliation of the present value of severance indemnities obligations	ThU.S.$	ThU.S.$
Opening balance	65,328	56,433
Current service cost	5,583	5,334
Interest cost	3,208	2,957
(Gains) losses from changes in actuarial assumptions	(3,711)	2,083
Actuarial gains and losses arising from experience	1,212	3,503
Benefits paid	(5,654)	(7,871)
Increase (decrease) for foreign currency exchange rates changes	5,792	2,889
Closing balance	71,763	65,328

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS. (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of EffectOf ChangesIn Foreign Exchange Rates Explanatory [Abstract]

Disclosure of detailed information about assets in foreign currencies [Text Block]

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Total Current Assets	2,770,363	2,722,360
Cash and Cash Equivalents	589,886	592,253
U.S Dollar	501,352	524,426
Euros	4,306	2,357
Brazilian Real	47,314	47,696
Argentine Pesos	10,038	4,046
Other currencies	3,685	3,327
Chilean Pesos	23,191	10,401
Other current financial assets	3,504	5,201
U.S Dollar	3,497	4,879
Argentine Pesos	-	315
Other currencies	7	7
Other current non-financial assets	129,837	144,915
U.S Dollar	48,632	62,246
Euros	104	71
Brazilian Real	17,158	22,537
Argentine Pesos	5,832	12,261
Other currencies	5,306	3,500
Chilean Pesos	52,805	44,300
Trade and other current receivables	814,412	701,610
U.S Dollar	550,674	489,056
Euros	20,498	26,544
Brazilian Real	89,673	46,150
Argentine Pesos	26,863	15,137
Other currencies	17,702	16,620
Chilean Pesos	106,442	106,681
U.F.	2,560	1,422
Accounts receivable due from related companies	3,488	12,505
U.S Dollar	726	274
Brazilian Real	171	726
Chilean Pesos	2,192	10,548
U.F.	399	957
Current Inventories	868,462	852,612
U.S Dollar	809,689	812,748
Brazilian Real	58,773	39,864
Current biological assets	307,796	306,117
U.S Dollar	270,761	271,551
Brazilian Real	37,035	34,566
Current tax assets	49,471	104,088
U.S Dollar	7,769	6,199
Brazilian Real	6,721	5,798
Argentine Pesos	-	39
Other currencies	3,188	2,696
Chilean Pesos	31,793	89,356
Non-current assets or disposal groups classified as held for sale	3,507	3,059
U.S Dollar	2,835	3,059
Brazilian Real	672	-

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Total Non-Current Assets	11,224,237	11,283,821
Other non-current financial assets	56,600	8,868
U.S Dollar	56,600	8,868
Other non-current non-financial assets	121,521	130,319
U.S Dollar	104,711	95,658
Brazilian Real	4,629	4,042
Argentine Pesos	11,303	9,900
Other currencies	693	636
Chilean Pesos	185	20,083
Trade and other non-current receivables	16,040	14,273
U.S Dollar	4,247	6,895
Brazilian Real	3,345	-
Other currencies	-	527
Chilean Pesos	6,692	5,753
U.F.	1,756	1,098
Accounts receivable due from related companies, non-current	1,056	957
U.F.	1,056	957
Investments accounted for using equity method	368,772	446,548
U.S Dollar	130,276	124,324
Euros	185,410	156,990
Brazilian Real	53,080	165,203
Chilean Pesos	6	31
Intangible assets other than goodwill	88,615	89,497
U.S Dollar	87,007	88,394
Brazilian Real	1,516	1,026
Chilean Pesos	92	77
Goodwill	69,922	74,893
U.S Dollar	42,656	42,508
Brazilian Real	27,266	32,385
Property, plant and equipment	7,034,299	6,919,495
U.S Dollar	6,443,081	6,394,105
Brazilian Real	585,202	520,448
Chilean Pesos	6,016	4,942
Non-current biological assets	3,459,146	3,592,874
U.S Dollar	2,934,819	3,185,872
Brazilian Real	524,327	407,002
Deferred tax assets	8,266	6,097
U.S Dollar	4,319	4,134
Brazilian Real	3,622	1,697
Other currencies	32	52
Chilean Pesos	293	214

Disclosure of detailed information about liabilities in foreign currencies [Text Block]

	12-31-2017			12-31-2016
	Up to 90 days	From 91 days to 1 year	Total	Up to 90 days	From 91 days to 1 year	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Total Liabilities, current	1,045,364	354,030	1,399,394	806,280	539,784	1,346,064
Other current financial liabilities	148,778	351,566	500,344	196,001	501,451	697,452
U.S Dollar	134,125	284,293	418,418	178,442	455,908	634,350
Brazilian Real	2,383	4,660	7,043	3,558	1,282	4,840
Argentine Pesos	-	-	-	11	29	40
Chilean Pesos	1,508	4,116	5,624	1,132	3,387	4,519
U.F.	10,762	58,497	69,259	12,858	40,845	53,703
Bank Loans	110,700	282,172	392,872	134,140	61,483	195,623
U.S Dollar	108,317	277,512	385,829	130,571	60,172	190,743
Brazilian Real	2,383	4,660	7,043	3,558	1,282	4,840
Argentine Pesos	-	-	-	11	29	40
Financial Leases	9,928	34,413	44,341	9,534	30,866	40,400
Chilean Pesos	1,508	4,116	5,624	1,132	3,387	4,519
U.F.	8,420	30,297	38,717	8,402	27,479	35,881
Other Loans	28,150	34,981	63,131	52,327	409,102	461,429
U.S Dollar	25,808	6,781	32,589	47,871	395,736	443,607
U.F.	2,342	28,200	30,542	4,456	13,366	17,822
Trade and other current payables	717,342	4	717,346	511,371	26,520	537,891
U.S Dollar	193,562	-	193,562	146,652	3,510	150,162
Euros	9,099	-	9,099	12,006	1,028	13,034
Brazilian Real	124,917	-	124,917	4,849	21,982	26,831
Argentine Pesos	29,243	-	29,243	31,661	-	31,661
Other currencies	4,936	-	4,936	12,244	-	12,244
Chilean Pesos	333,525	4	333,529	285,359	-	285,359
U.F.	22,060	-	22,060	18,600	-	18,600
Accounts payable to related companies	11,208	-	11,208	3,831	-	3,831
U.S Dollar	1,354	-	1,354	1,969	-	1,969
Chilean Pesos	9,854	-	9,854	1,862	-	1,862
Other current provisions	2,728	-	2,728	842	-	842
U.S Dollar	622	-	622	842	-	842
Brazilian Real	2,106	-	2,106	-	-	-
Current tax liabilities	6,361	1,727	8,088	1,641	-	1,641
U.S Dollar	283	-	283	448	-	448
Euros	158	-	158	7	-	7
Argentine Pesos	46	-	46	133	-	133
Other currencies	479	-	479	574	-	574
Chilean Pesos	5,395	1,727	7,122	479	-	479
Current provisions for employee benefits	5,595	135	5,730	5,214	30	5,244
Chilean Pesos	5,595	135	5,730	5,214	30	5,244
Other current non-financial liabilities	153,352	598	153,950	87,380	11,783	99,163
U.S Dollar	119,309	582	119,891	62,974	163	63,137
Euros	77	-	77	53	-	53
Brazilian Real	18,016	-	18,016	9,426	11,616	21,042
Argentine Pesos	3,215	-	3,215	3,474	-	3,474
Other currencies	3,906	-	3,906	3,202	-	3,202
Chilean Pesos	8,809	16	8,825	8,183	4	8,187
U.F.	20	-	20	68	-	68

	12-31-2017			12-31-2016
	From 13 months to 5 years	More than 5 years	Total	From 13 months to 5 years	More than 5 years	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Total non-current liabilities	3,025,553	2,452,760	5,478,313	3,599,291	2,061,543	5,660,834
Other non-current financial liabilities	1,455,641	2,322,926	3,778,567	2,020,484	1,850,430	3,870,914
U.S Dollar	970,631	1,508,999	2,479,630	1,591,127	1,075,204	2,666,331
Brazilian Real	16,506	-	16,506	17,098	1,042	18,140
Chilean Pesos	9,839	-	9,839	11,151	-	11,151
U.F.	458,665	813,927	1,272,592	401,108	774,184	1,175,292
Bank Loans	327,424	138,161	465,585	626,384	92,351	718,735
U.S Dollar	310,918	138,161	449,079	609,286	91,309	700,595
Brazilian Real	16,506	-	16,506	17,098	1,042	18,140
Financial Leases	68,035	-	68,035	73,586	-	73,586
Chilean Pesos	9,839	-	9,839	11,151	-	11,151
U.F.	58,196	-	58,196	62,435	-	62,435
Other Loans	1,060,182	2,184,765	3,244,947	1,320,514	1,758,079	3,078,593
U.S Dollar	659,713	1,370,838	2,030,551	981,841	983,895	1,965,736
U.F.	400,469	813,927	1,214,396	338,673	774,184	1,112,857
Other non-current provisions	36,008	-	36,008	38,138	-	38,138
U.S Dollar	7	-	7	1	-	1
Brazilian Real	4,682	-	4,682	5,425	-	5,425
Argentine Pesos	31,316	-	31,316	32,712	-	32,712
Chilean Pesos	3	-	3	-	-	-
Deferred tax liabilities	1,355,531	129,834	1,485,365	1,479,596	151,469	1,631,065
U.S Dollar	1,247,096	129,834	1,376,930	1,412,506	131,406	1,543,912
Brazilian Real	108,435	-	108,435	67,090	20,063	87,153
Non-current provisions for employee benefits	66,033	-	66,033	60,084	-	60,084
Other currencies	129	-	129	144	-	144
Chilean Pesos	65,904	-	65,904	59,940	-	59,940
Other non-current non-financial liabilities	112,340	-	112,340	989	59,644	60,633
U.S Dollar	13	-	13	430	-	430
Brazilian Real	111,634	-	111,634	-	59,644	59,644
Argentine Pesos	480	-	480	349	-	349
Chilean Pesos	213	-	213	206	-	206
U.F.	-	-	-	4	-	4

Disclosure of subsidiaries [text block]

The table below sets forth the subsidiaries that have determined a functional currency other than the U.S. Dollar as follows:

Subsidiary	Country	Functional Currency
Arauco do Brasil S.A.	Brazil	Brazilian Real
Arauco Forest Brasil S.A.	Brazil	Brazilian Real
Arauco Florestal Arapoti S.A.	Brazil	Brazilian Real
Arauco Industria de Paineis Ltda.	Brazil	Brazilian Real
Empreendimentos Florestais Santa Cruz Ltda.	Brazil	Brazilian Real
Mahal Empreendimentos e Participacoes S.A.	Brazil	Brazilian Real
Investigaciones Forestales Bioforest S.A.	Chile	Chilean Pesos
Consorcio Protección Fitosanitaria Forestal S.A.	Chile	Chilean Pesos
Forestal Nuestra Señora del Carmen S.A.	Argentina	Argentine Pesos
Forestal Talavera S.A.	Argentina	Argentine Pesos
Greeneagro S.A.	Argentina	Argentine Pesos
Leasing Forestal S.A.	Argentina	Argentine Pesos
Savitar S.A.	Argentina	Argentine Pesos
Flakeboard Company Limited	Canada	Canadian Dollar

Disclosure of information per company of the reserve of exchange differences on translation [Text Block]

The table below shows a detail per company of the effect in the period of the Reserve of Exchange Differences on translation:

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Arauco do Brasil S.A.	(6,537)	73,087	(155,390)
Arauco Forest Brasil S.A.	(6,929)	68,314	(140,992)
Arauco Florestal Arapoti S.A.	(1,051)	19,523	(43,189)
Arauco Distribución S.A.	-	-	(4,180)
Sonae Arauco S.A.	20,547	-	-
Arauco Argentina S.A.	(752)	4,989	(13,308)
Flakeboard Company Limited	6,529	2,984	(16,915)
Others	307	(13)	(301)
Total reserve of exchange differences on translation	12,114	168,884	(374,275)

Disclosure of detailed information about changes in foreign exchange rates [Text Block]

Effect of foreign exchange rates changes

	January-December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Exchange differences recognized in profit or loss, except for those arising on financial instruments measured at fair value through profit or loss	98	(3,935)	(40,827)
Reserve of exchange differences on translation (with Non-controlling interests)	11,873	173,754	(385,109)

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BORROWING COSTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Borrowing Costs [Abstract]

Disclosure of detailed information about borrowing costs [Text Block]

Arauco estimates the average rate of borrowings to finance its current investments projects. The average rate loans to finance these investments projects were claculated to record the capitalization.

	January - December
	2017		2016
	ThU.S.$		ThU.S.$
Property, plant and equipment capitalized cost
Property, plant and equipment capitalized interest cost rate	4.91	%	5.11	%
Amount of the capitalized interest cost, property, plant and equipment	5,603		2,177

XML

RELATED PARTIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Related Party [Line Items]

Disclosure of interests in subsidiaries [text block]

The table below sets forth information about the Relationship between the Parent Company and its Subsidiaries

				% Ownership interest			% Ownership interest
			Functional	12-31-2017			12-31-2016
ID N°	Company Name	Country	Currency	Direct	Indirect	Total	Direct	Indirect	Total
-	Agenciamiento y Servicios Profesionales S.A.	Mexico	U.S. Dollar	0.0020	99.9970	99.9990	0.0020	99.9970	99.9990
-	Arauco Argentina S.A.	Argentina	U.S. Dollar	9.9753	90.0048	99.9801	9.9753	90.0048	99.9801
-	Arauco Australia Pty Ltd.	Australia	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
96547510-9	Arauco Bioenergía S.A.	Chile	U.S. Dollar	98.0000	1.9999	99.9999	98.0000	1.9999	99.9999
-	Arauco Colombia S.A.	Colombia	U.S. Dollar	1.4778	98.5204	99.9982	1.4778	98.5204	99.9982
-	Arauco do Brasil S.A.	Brazil	Brazilian Real	1.1624	98.8366	99.9990	1.1624	98.8366	99.9990
-	Arauco Europe Cooperatief U.A.	Netherlands	U.S. Dollar	0.5689	99.4301	99.9990	0.4614	99.5376	99.9990
-	Arauco Florestal Arapoti S.A.	Brazil	Brazilian Real	-	79.9992	79.9992	-	79.9992	79.9992
-	Arauco Forest Brasil S.A.	Brazil	Brazilian Real	9.9971	90.0021	99.9992	10.1297	89.8694	99.9991
-	Arauco Industria de Paineis Ltda.	Brazil	Brazilian Real	-	99.9990	99.9990	-	-	-
-	Arauco Middle East DMCC	Dubai	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
76620842-8	Arauco Nutrientes Naturales SPA	Chile	U.S. Dollar	-	99.9484	99.9484	-	99.9484	99.9484
-	Arauco Panels USA, LLC	USA	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
-	Arauco Perú S.A.	Peru	U.S. Dollar	0.0013	99.9977	99.9990	0.0013	99.9977	99.9990
-	Arauco Wood Products, Inc.	USA	U.S. Dollar	0.0004	99.9986	99.9990	0.0004	99.9986	99.9990
-	Araucomex S.A. de C.V.	Mexico	U.S. Dollar	0.0005	99.9985	99.9990	0.0005	99.9985	99.9990
96657900-5	Consorcio Protección Fitosanitaria Forestal S.A.	Chile	Chilean Pesos	-	57.5223	57.5223	-	57.5404	57.5404
-	Empreendimentos Florestais Santa Cruz Ltda.	Brazil	Brazilian Real	-	99.9795	99.9795	-	99.9789	99.9789
-	Flakeboard America Limited	USA	U.S. Dollar	-	99.9990	99.9990	-	99.9990	99.9990
-	Flakeboard Company Ltd.	Canada	Canadian Dollar	-	99.9990	99.9990	-	99.9990	99.9990
85805200-9	Forestal Arauco S.A.	Chile	U.S. Dollar	99.9484	-	99.9484	99.9484	-	99.9484
93838000-7	Forestal Cholguán S.A.	Chile	U.S. Dollar	-	98.4826	98.4826	-	98.4744	98.4744
-	Forestal Concepción S.A.	Panama	U.S. Dollar	-	-	-	0.0050	99.9940	99.9990
78049140-K	Forestal Los Lagos S.A.	Chile	U.S. Dollar	-	79.9587	79.9587	-	79.9587	79.9587
-	Forestal Nuestra Señora del Carmen S.A.	Argentina	Argentine pesos	-	99.9805	99.9805	-	99.9805	99.9805
-	Forestal Talavera S.A.	Argentina	Argentine pesos	-	99.9942	99.9942	-	99.9942	99.9942
-	Greenagro S.A.	Argentina	Argentine pesos	-	97.9805	97.9805	-	97.9805	97.9805
96563550-5	Inversiones Arauco Internacional Ltda.	Chile	U.S. Dollar	98.0186	1.9804	99.9990	98.0186	1.9804	99.9990
79990550-7	Investigaciones Forestales Bioforest S.A.	Chile	Chilean Pesos	1.0000	98.9489	99.9489	1.0000	98.9489	99.9489
-	Leasing Forestal S.A.	Argentina	Argentine pesos	-	99.9801	99.9801	-	99.9801	99.9801
96510970-6	Maderas Arauco S.A. (ex Paneles Arauco S.A.)	Chile	U.S. Dollar	99.0000	0.9995	99.9995	99.0000	0.9995	99.9995
-	Mahal Empreendimentos e Participacoes S.A.	Brazil	Brazilian Real	-	99.9961	99.9961	-	99.9934	99.9934
-	Novo Oeste Gestao de Ativos Florestais S.A.	Brazil	Brazilian Real	-	99.9991	99.9991	-	99.9990	99.9990
-	Savitar S.A.	Argentina	Argentine pesos	-	99.9841	99.9841	-	99.9841	99.9841
76375371-9	Servicios Aéreos Forestales Ltda.	Chile	U.S. Dollar	0.0100	99.9890	99.9990	0.0100	99.9890	99.9990
96637330-K	Servicios Logísticos Arauco S.A.	Chile	U.S. Dollar	45.0000	54.9997	99.9997	45.0000	54.9997	99.9997

Disclosure of information about key management personnel [text block]

Employee Benefits for Key Management Personnel

	January - December
	2017	2016	2015
	ThU.S.$	ThU.S.$	ThU.S.$
Salaries and bonuses	59,501	73,398	65,760
Per diem compensation to members of the Board of Directors	2,566	1,783	1,097
Termination benefits	4,936	6,174	2,250
Total	67,003	81,355	69,107

Disclosure of transactions between related parties [text block]

Related Party Receivables, Current

Name of Related Party	Tax ID No.	Nature of Relationship	Country	Currency	Maturity	12-31-2017 ThU.S.$	12-31-2016 ThU.S.$
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	30 days	25	39
Eka Chile S.A.	99.500.140-3	Joint Venture	Chile	Chilean pesos	30 days	2,027	1,701
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	30 days	4	7,618
Unilin Arauco Pisos Ltda.	-	Joint Venture	Brazil	Brazilian Real	30 days	171	726
Colbún S.A.	96.505.760-9	Common director	Chile	Chilean pesos	30 days	136	-
CMPC Celulosa S.A.	96.532.330-9	Common Stockholder	Chile	Chilean pesos	-	-	2
Fundación Educacional Arauco	71.625.000-8	Common director	Chile	Chilean pesos	-	-	1,188
Fundación Acerca Redes	65.097.218-K	Parent company is founder and contributor	Chile	U.S. Dollar	30 days	726	274
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	30 days	399	957
TOTAL						3,488	12,505

Related Party Receivables, Non-Current

		Nature of				12-31-2017	12-31-2016
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Maturity	ThU.S.$	ThU.S.$
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	Sep-18	528	478
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of an Associate	Chile	U.F.	Sep-19	528	478
TOTAL						1,056	957

Related Party Payables, Current

		Nature of				12-31-2017	12-31-2016
Name of Related party	Tax ID No.	Relationship	Country	Currency	Maturity	ThU.S.$	ThU.S.$
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	30 days	8,837	1,758
Abastible S.A.	91.806.000-6	Controlling Parent’s Subsidiary	Chile	Chilean pesos	30 days	545	97
Fundación Educacional Arauco	71.625.000-8	Common director	Chile	Chilean pesos	30 days	54	-
Red to Green S.A. (Ex-Sigma Servicios Informáticos S.A.)	86.370.800-1	Common director	Chile	Chilean pesos	30 days	1	-
Portaluppi, Guzman y Bezanilla Abogados	78.096.080-9	Common director	Chile	Chilean pesos	30 days	146	-
Empresa Nacional de Telecomunicaciones S.A.	92.580.000-7	Common Stockholder	Chile	Chilean pesos	30 days	137	-
Servicios Corporativos Sercor S.A.	96.925.430-1	Subsidiary of the Associate	Chile	Chilean pesos	30 days	29	-
Puerto Lirquén S.A.	96.959.030-1	Subsidiary of the Associate	Chile	U.S. Dollar	30 days	1,354	1,246
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.S. Dollar	-	-	723
Adm.Estaciones de Servicio Serco Ltda.	79.689.550-0	Common controlling parent	Chile	Chilean pesos	30 days	1	-
Adm. de Ventas al Detalle Arco Prime Ltda.	77.215.640-5	Common controlling parent	Chile	Chilean pesos	30 days	14	5
Empresa Distrib. Papeles y Cartones S.A.	88.566.900-k	Common Stockholder	Chile	Chilean pesos	-	-	2
Elemental S.A.	76.659.730-0	Indirect associate of controlling parent	Chile	Chilean pesos	30 days	4	-
Woodtech S.A.	76.724.000-7	Indirect associate of controlling parent	Chile	Chilean pesos	30 days	86	-
TOTAL						11,208	3,831

Disclosure of related party transactions related to purchases and sales [text block]

Related Party Transactions

Purchases

		Nature of			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Abastible S.A.	91.806.000-6	Common controlling parent	Chile	Chilean pesos	Fuel	3,115	2,199	2,503
Empresas Copec S.A.	90.690.000-9	Controlling Parent	Chile	Chilean pesos	Management service	106	356	233
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	Fuel and other	66,789	39,732	61,245
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.S. Dollar	Transport and stowage	9,986	8,633	10,917
Puerto Lirquén S.A.	96.959.030-1	Subsidiary of the Associate	Chile	U.S. Dollar	Port services	6,956	7,311	7,694
EKA Chile S.A.	99.500.140-3	Joint Venture	Chile	Chilean pesos	Sodium chlorate	44,055	47,236	39,362
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	Wood and ships	1,310	2,093	2,018
Portaluppi, Guzman y Bezanilla Abogados	78.096.080-9	Common director	Chile	Chilean pesos	Legal services	1,496	1,295	1,312
Empresa Nacional de Telecomunicaciones S.A.	92.580.000-7	Common Stockholder	Chile	Chilean pesos	Telephone services	460	512	552
CMPC Maderas S.A.	95.304.000-K	Common Stockholder	Chile	Chilean pesos	Wood and logs	330	511	267
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	Wood and logs	62	180	204
Red to Green S.A. (Ex-Sigma Servicios Informáticos S.A.)	86.370.800-1	Common director	Chile	Chilean pesos	Computer Services	130	249	59
Empresa de Residuos Resiter Ltda	89.696.400-3	Common director	Chile	Chilean pesos	Industrial Cleaning Services	-	-	(285)
Empresas de Residuos Industriales Resiter Ltda	76.329.072-7	Common director	Chile	Chilean pesos	Industrial Cleaning Services	-	-	5,027
Resiter Uruguay S.A.	-	Common director	Uruguay	U.S. Dollar	Service to collect solid waste	-	-	774
Colbún Transmisión S.A.	76.218.856-2	Common director	Chile	Chilean pesos	Electrical Power	389	383	447
Woodtech S.A.	76.724.000-7	Indirect associate of controlling parent	Chile	Chilean pesos	Wood volumen measurement services	2,239	982	-
Inversiones Siemel S.A.	94.082.000-6	Common Stockholder	Chile	Chilean pesos	Rentals	596	777	-
CMPC Celulosa S.A.	96.532.330-9	Common Stockholder	Chile	Chilean pesos	Others purchases	965	3	2,217

Sales

		Relationship			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Nature of	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Compañía de Petróleos de Chile S.A.	99.520.000-7	Common controlling parent	Chile	Chilean pesos	Charter Services	202	-	-
Colbún S.A.	96.505.760-9	Common director	Chile	Chilean pesos	Electrical Power	1,128	5,999	1,083
EKA Chile S.A.	99.500.140-3	Joint venture	Chile	Chilean pesos	Electrical Power	19,182	16,326	17,543
Stora Enso Arapoti Industria de Papel S.A.	-	Subsidiary of the Associate	Brazil	Brazilian Real	Wood	-	1,149	5,617
Forestal del Sur S.A.	79.825.060-4	Common director	Chile	Chilean pesos	Harvesting services, Wood and chips	25,322	21,657	19,328
Forestal Mininco S.A.	91.440.000-7	Common Stockholder	Chile	Chilean pesos	Wood	-	47	311
Compañía Puerto de Coronel S.A.	79.895.330-3	Subsidiary of the Associate	Chile	U.F.	Sale Land	-	1,914	-
Unilin Arauco Pisos Ltda.	-	Joint venture	Brazil	Brazilian Real	Wood	2,966	5,263	2,666

Disclosure of other related party transactions [Text block]

Other Transactions

		Nature of			Transaction	12-31-2017	12-31-2016	12-31-2015
Name of Related Party	Tax ID No.	Relationship	Country	Currency	Descriptions	ThU.S.$	ThU.S.$	ThU.S.$
Novo Oeste Gestao de Ativo Florestais S.A.	-	Subsidiary of the Associate	Brazil	Brazilian Real	Loans (Capital and interest)	-	-	41,091

Related parties [member]

Disclosure Of Related Party [Line Items]

Disclosure of joint operations [text block]

The companies in the table below are classified as joint operations in accordance with IFRS 11. The assets, liabilities, income and expenses are recorded in relation to the Company’s ownership percentage in accordance with accounting standards applicable in each case.

Company Name	Country	Functional Currency
Eufores S.A.	Uruguay	U.S. Dollar
Celulosa y Energía Punta Pereira S.A.	Uruguay	U.S. Dollar
Zona Franca Punta Pereira S.A.	Uruguay	U.S. Dollar
Forestal Cono Sur S.A.	Uruguay	U.S. Dollar
Stora Enso Uruguay S.A.	Uruguay	U.S. Dollar
El Esparragal Asociación Agraria de R.L.	Uruguay	U.S. Dollar
Ongar S.A.	Uruguay	U.S. Dollar
Terminal Logística e Industrial M’Bopicua S.A.	Uruguay	U.S. Dollar

XML

CONSOLIDATED FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about business combination [line items]

Disclosure of detailed information about business combinations [text block]

The table below shows the fair values of assets and liabilities at the date of the transaction:

	12-06-2017
ARAUCO INDUSTRIA DE PAINEIS LTDA.	ThU.S.$
Cash and cash equivalent	4,345
Trade and other current receivables	49,715
Inventories	23,331
Property, plant and equipment	68,321
Other assets	27,012
Total assets	172,724
Other financial liabilities, current and non-current	43,218
Trade and other payables	26,437
Other liabilities	70,371
Total liabilities	140,026

Disclosure of information about revenue and net profit recognized at the acquisition day [Text Block]

The following table shows revenue and net profit recognized at the acquisition day:

	12-01-2017 al 12-31-2017
ARAUCO INDUSTRIA DE PAINEIS LTDA.	ThU.S.$
Revenue	11,830
Net loss	(1,376)

Disclosure of information about revenue and net profit as if combination occurred at beginning of period [Text Block]

If the acquisition had occurred on January 1, 2017, consolidated pro-forma revenue and profit for the year ended December 31, 2017 would have been:

CELULOSA ARAUCO Y CONSTITUCIÓN S.A. AND	January-December 2017 (Pro-forma)
SUBSIDIARIES	ThU.S.$
Revenue	5,395,859
Net profit	261,776

XML

INVESTMENTS IN ASSOCIATES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of associates [abstract]

Disclosure of associates [text block]

The following tables set forth information about Investments in associates.

Name	Puertos y Logística S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Docking and warehousing operations for proprietary and third party use, cargo of all classes of goods, as well, as warehousing and transport operations.
Ownership interest (%)	20.2767%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$62,225	ThU.S.$61,505

Name	Inversiones Puerto Coronel S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Investments in movables and real estate, acquisition of companies, securities and investment instruments, investment management and development and/or participation in all kind of businesses and companies related to industrial, shipping, forestry and commercial activities.
Ownership interest (%)	50.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$47,619	ThU.S.$43,559

Name	Servicios Corporativos Sercor S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Consulting services related to business management to Boards of Directors and Senior Management of all Arauco’s entities.
Ownership interest (%)	20.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$ 191	ThU.S.$ 190

Name	Genómica Forestal S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing forestry genomics, through the use of biotechnological, molecular and bioinformatics tools with the purpose of strengthening genetic programs so as to improve the competitive position of the Chilean forestry industry for priority tree species.
Ownership interest (%)	25.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$(4)	ThU.S.$(1)

Name	Consorcio Tecnológico Bioenercel S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing of technologies which will promote the development of a biofuels industry in Chile, obtained from lingo-cellulosic materials. The future execution of this sustainable project is financed by the Innova Chile Committee.
Ownership interest (%)	20.0000%

 

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$6	ThU.S.$31

Name	Vale do Corisco S.A.
Country	Brazil
Functional Currency	Brazilian Real
Corporate purpose	Management of forestry activities.
Ownership interest (%)	49.0000%

	12-31-2017	12-31-2016
Carrying amount	ThU.S.$48,921	ThU.S.$160,490

Disclosure of detailed information about financial information of associates [Text Block]

Summarized Financial Information of Associates

	Assets
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv.Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel S.A.	Genómica Forestal S.A.	Total
12-31-2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	92,816	29	4,296	-	6,384	5	25	103,555
Non-current	590,309	97,072	769	-	126,215	45	24	814,434
Total	683,125	97,101	5,065	-	132,599	50	49	917,989

	Liabilities
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv. Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel S.A.	Genómica Forestal S.A.	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	44,564	82	3,219	-	123	-	14	48,002
Non-current	331,681	-	871	-	32,636	5	50	365,243
Equity	306,880	97,019	975	-	99,840	45	(15)	504,744
Total	683,125	97,101	5,065	-	132,599	50	49	917,989
12-31-2017
Revenues	130,720	4,741	5,211	-	34,449	2	30	175,153
Expenses	(132,538)	-	(5,246)	-	(29,648)	(10)	(36)	(167,478)
Profit or loss (continuing operations)	(1,818)	4,741	(35)	-	4,801	(8)	(6)	7,675
Other comprehensive income	5,850		-	-	95,039	-	-	100,889
Total comprehensive income	4,032	4,741	(35)	-	99,840	(8)	(6)	108,564
Dividends	-	-	-	-	-	-	-	-

	Assets
	Puertos y Logística  S.A.	Inversiones Puerto Coronel  S.A.	Serv. Corporativos Sercor  S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco S.A.	Consorcio Tecnológico Bioenercel  S.A.	Genómica Forestal  S.A.	Total
12-31-2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	76,021	29	4,608	-	24,972	6	26	105,662
Non-current	572,831	88,936	668	-	415,083	153	63	1,077,734
Total	648,852	88,965	5,276	-	440,055	159	89	1,183,396

	Liabilities
	Puertos y Logística S.A.	Inversiones Puerto Coronel S.A.	Serv. Corporativos Sercor S.A.	Stora Enso Arapoti Ind.de Papel S.A.	Vale do Corisco  S.A.	Consorcio Tecnológico Bioenercel  S.A.	Genómica Forestal S.A.	Total
	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	44,457	82	3,412	-	3,446	-	9	51,406
Non-current	301,065	-	912	-	109,079	6	85	411,147
Equity	303,330	88,883	952	-	327,530	153	(5)	720,843
Total	648,852	88,965	5,276	-	440,055	159	89	1,183,396
12-31-2016
Revenues	107,722	3,072	4,591	492	44,822	33	94	160,826
Expenses	(98,642)	-	(4,587)	(6,320)	(15,238)	(147)	(100)	(125,034)
Profit or loss (continuing operations)	9,080	3,072	4	(5,828)	29,584	(114)	(6)	35,792
Other comprehensive income	7,385	(29)	-	-	-	-	-	7,356
Total Comprehensive income	16,465	3,043	4	(5,828)	29,584	(114)	(6)	43,177
Dividends	-	-	-	-	1,420	-	-	1,420

Disclosure of reconciliation of summarised financial information of associate and joint venture accounted for using equity method to carrying amount of interest in associate and joint venture [Text Block]

Reconciliation of Investment in Associates and Joint Ventures

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Opening balance as of January 1. 2017	446,548	264,812
Changes
Investment in joint ventures, Additions	-	153,135
Disposals, Investments in associates and joint ventures	-	(14,510)
Share of profit (loss) in investment in associates	4,855	16,349
Share of profit (loss) in investment in joint ventures	12,162	7,590
Dividends Received, Investments in Associates	(8,586)	(5,320)
Increase (Decrease) in foreign exchange currency on translation of Associates and Joint Ventures	22,726	20,634
Other increase (decrease) in investment and associates and joint ventures (*)	(108,933)	3,858
Total changes	(77,776)	181,736
Ending balance	368,772	446,548

(*) In May 2017, Arauco’s associate Florestal Vale do Corisco S.A. performed a return of capital to its shareholders. This transaction did not generate effects in the Consolidated Statements of Profit or Loss nor modified Arauco’s shareholding in Florestal Vale do Corisco S.A.

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Carrying amount of associates accounted for using equity method	158,772	265,775
Carrying amount of joint ventures accounted for using equity method	209,805	180,773
Total investment accounted for using equity method	368,577	446,548

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INTERESTS IN JOINT ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of joint operations [line items]

Disclosure of joint ventures [text block]

The following tables set forth summarized financial information of the more significant interests in joint ventures:

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Unilin Arauco Pisos Ltda.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	7,270	4,461	7,900	3,549
Non-current	5,535	28	5,094	18
Equity		8,316		9,427
Total Joint Arrangement	12,805	12,805	12,994	12,994
Investment	4,158		4,714

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	17,910	1,305
Expenses	(18,736)	(1,974)
Joint Arrangement Net Income (Loss)	(826)	(669)
Other comprehensive income	-	-
Comprehensive income	(826)	(669)
Dividends	-	-

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Eka Chile S.A.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	18,876	5,388	15,817	4,348
Non-current	32,040	5,054	31,690	5,021
Equity		40,474		38,138
Total Joint Arrangement	50,916	50,916	47,507	47,507
Investment	20,237		19,069

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	43,678	48,276
Expenses	(40,111)	(44,045)
Joint Arrangement Net Income (Loss)	3,567	4,231
Other comprehensive income	-	-
Comprehensive income	3,567	4,231
Dividends	-	-

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Sonae Arauco S.A.	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	265,578	235,676	223,145	213,228
Non-current	664,689	323,770	616,467	312,404
Equity		370,821		313,980
Total Joint Arrangement	930,267	930,267	839,612	839,612
Net assets	151,920		120,800
Net asset adjustment (Goodwill)	33,491		36,190
Investment	185,411		156,990

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	976,936	507,179
Expenses	(954,979)	(495,560)
Joint Arrangement Net Income (Loss)	21,957	11,619
Other comprehensive income	-	-
Comprehensive income	21,957	11,619
Dividends	-	-

Joint operations [member]

Disclosure of joint operations [line items]

Disclosure of joint operations [text block]

The following tables set forth summarized financial information of the more significant interests in joint arrangements, which qualify as joint operations:

	12-31-2017		12-31-2016
Celulosa y Energía Punta Pereira S.A.	Assets	Liabilities	Assets	Liabilities
(Uruguay)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	202,669	186,626	173,258	182,834
Non-current	2,076,255	586,034	2,131,266	735,679
Equity		1,506,264		1,386,011
Total Joint Arrangement	2,278,924	2,278,924	2,304,524	2,304,524
Investment	753,132		693,006

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	768,508	680,819
Expenses	(650,174)	(618,387)
Joint Arrangement Net Income (Loss)	118,334	62,432

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Forestal Cono Sur S.A. (consolidated)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	33,012	22,582	23,745	21,039
Non-current	174,943	2,314	178,236	1,381
Equity		183,059		179,561
Total Joint Arrangement	207,955	207,955	201,981	201,981
Investment	91,530		89,781

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	15,113	8,443
Expenses	(9,926)	(2,876)
Joint Arrangement Net Income (Loss)	5,187	5,567

	12-31-2017		12-31-2016
	Assets	Liabilities	Assets	Liabilities
Eufores S.A.(consolidated)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	183,175	180,298	178,644	200,525
Non-current	612,187	7,948	604,736	23,052
Equity		607,116		559,803
Total Joint Arrangement	795,362	795,362	783,380	783,380
Investment	303,558		279,902

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	336,705	296,927
Expenses	(286,616)	(280,054)
Joint Arrangement Net Income (Loss)	50,089	16,873

	12-31-2017		12-31-2016
Zona Franca Punta Pereira S.A.	Assets	Liabilities	Assets	Liabilities
(Uruguay)	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Current	6,105	97,233	4,397	82,331
Non-current	483,884	43,180	492,815	63,021
Equity		349,576		351,860
Total Joint Arrangement	489,989	489,989	497,212	497,212
Investment	174,788		175,930

	12-31-2017	12-31-2016
	ThU.S.$	ThU.S.$
Income	22,129	31,042
Expenses	(24,413)	(25,966)
Joint Arrangement Net Income (Loss)	(2,284)	5,076

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IMPAIRMENT OF ASSETS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of impairment loss and reversal of impairment loss [abstract]

Disclosure of Provisions for Impairment of property, plant and equipment [Text Block]

Provisions for impairment of property, plant and equipment due to technical obsolescence have been recorded as of December 31, 2017 and December 31, 2016, respectively, as shown below:

Disclosure of Asset Impairment
Principal classes of Assets affected by Impairment and Reversal of Losses	Machinery and Equipment
Principal Facts and Circumstances that lead to Recognizing Impairment and Reversal of losses	Technical Obsolescence and Claim
		12-31-2017	12-31-2016
Information relevant to the sum of all impairment		ThU.S.$17,396	ThU.S.$7,993

Disclosure of reconciliation of changes in goodwill [text block]

At the date of these consolidated financial statements, the balance of goodwill is ThU.S.$69,922 (ThU.S.$74,893 at December 31, 2016), as shown below:

	12-31-2017	12-31-2016
Goodwill	ThU.S.$	ThU.S.$
Opening balance at January 1	74,893	69,475
Impairment	(4,640)	-
Increase (decrease) in foreign currency exchange	(331)	5,418
Closing balance at December 31, 2017	69,922	74,893

XML

PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Provisions Contingent Liabilities And Contingent Assets [Abstract]

Disclosure of detailed information about current and non current provisions [Text Block]

Provisions recorded as of December 31, 2017 and December 31, 2016 are as follows:

	12-31-2017	12-31-2016
Classes of Provisions	ThU.S.$	ThU.S.$
Provisions, Current	2,728	842
Provisions for litigations	616	427
Other provisions	2,112	415
Provisions, non-Current	36,008	38,138
Provisions for litigations	12,556	14,696
Other provisions	23,452	23,442
Total Provisions	38,736	38,980

Disclosure of other provisions [text block]

	12-31-2017
		Other
	Litigations (*)	Provisions  (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	15,123	23,857	38,980
Changes in provisions
Increase in existing provisions	1,314	16	1,330
Increase through business combinations	-	2,106	2,106
Used provisions	(1,578)	-	(1,578)
Increase (decrease) in foreign currency exchange	(1,493)	-	(1,493)
Other Increases (Decreases)	(193)	(416)	(609)
Total Changes	(1,950)	1,706	(244)
Closing balance	13,173	25,563	38,736

(*) The increase in legal claims is composed mainly of ThU.S.$908 and ThU.S.$375 Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits.

(**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the provision in Zona Franca Punta Pereira (Uruguay). The increase through business combination corresponds to the acquisition of Arauco Industrias de Paineis.

	12-31-2016
		Other
	Litigations (*)	Provisions (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	11,400	23,999	35,399
Changes in provisions
Increase in existing provisions	5,363	1	5,364
Used provisions	(998)	(39)	(1,037)
Increase (decrease) in foreign currency exchange	(609)	-	(609)
Other Increases (Decreases)	(33)	(104)	(137)
Total Changes	3,723	(142)	3,581
Closing balance	15,123	23,857	38,980

(*) The increase in legal claims is composed mainly of ThU.S.$ 863 and ThU.S.$ 2,255 (Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits, and ThU.S.$1,490 from Arauco Argentina in connection of fees in lawsuits.

(**) The change in Other Increases (Decreases) in Other provisions is due to a reverse of the ThU.S.$ 100 corresponding to Arauco Argentina.

	12-31-2015
		Other
	Litigations (*)	Provisions (**)	Total
Movements in Provisions	ThU.S.$	ThU.S.$	ThU.S.$
Opening balance	16,038	51,026	67,064
Changes in provisions
Increase in existing provisions	2,555	1,429	3,984
Used provisions	(2,990)	-	(2,990)
Increase (decrease) in foreign currency exchange	(5,163)	-	(5,163)
Other Increases (Decreases)	960	(28,456)	(27,496)
Total Changes	(4,638)	(27,027)	(31,665)
Closing balance	11,400	23,999	35,399

(*)The increase in legal claims is composed mainly of ThU.S.$1,558 from Brazilian subsidiaries in connection with civil and labor lawsuits, being the latter the most important. In addition there are ThU.S.$840 from Arauco Argentina in connection with labor lawsuits.

(**)The increase of Other Provisions comprises mainly an increase of ThU.S.$1,429 from Arauco Argentina for export duties. While in the Other Increases (Decreases), line item, the reverse of Negative Equity to Arauco Forest Brasil over Novo Oeste by ThU.S.$ 25,290 and Forestal Cholguán over Sercor is reflected by ThU.S.$2,850.

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INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Intangibles Assets [Abstract]

Disclosure of intangible assets material to entity [text block]

	12-31-2017	12-31-2016
Classes of Intangible Assets, Net	ThU.S.$	ThU.S.$
Intangible assets, net	88,615	89,497
Computer software	26,747	26,370
Water rights	5,697	5,689
Customer	47,144	50,982
Other identifiable intangible assets	9,027	6,456
Classes of intangible Assets, Gross	173,426	159,025
Computer software	81,907	72,008
Water rights	5,697	5,689
Customer	72,685	71,275
Other identifiable intangible assets	13,137	10,053
Classes of accumulated amortization and impairment
Total accumulated amortization and impairment	(84,811)	(69,528)
Accumulated amortization and impairment, intangible assets	(84,811)	(69,528)
Computer software	(55,160)	(45,638)
Customer	(25,541)	(20,293)
Other identifiable intangible assets	(4,110)	(3,597)

Disclosure of reconciliation of changes in intangible assets and goodwill [text block]

Reconciliation of the carrying amount of intangible assets at the beginning and end of each reporting period balances

	12-31-2017
	Computer Software	Water Rights	Customer	Others	TOTAL
Reconciliation of intangible assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance	26,370	5,689	50,982	6,456	89,497
Changes
Additions	7,487	8	-	2,973	10,468
Additions through business combination	320	-	-	-	320
Disposals	(181)	-	-	-	(181)
Amortization	(8,122)	-	(4,797)	(408)	(13,327)
Increase (Decrease) related to foreign currency translation	873	-	959	(96)	1,736
Other Increases (Decreases)	-	-	-	102	102
Changes Total	377	8	(3,838)	2,571	(882)
Closing Balance	26,747	5,697	47,144	9,027	88,615

	12-31-2016
	Computer Software	Water Rights	Customer	Others	TOTAL
Reconciliation of intangible assets	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Opening Balance	21,251	5,485	55,265	6,111	88,112
Changes
Additions	12,935	204	-	1,718	14,857
Disposals	(1)	-	-	-	(1)
Amortization	(8,368)	-	(4,770)	(1,414)	(14,552)
Increase (Decrease) related to foreign currency translation	178	-	487	41	706
Other Increases (Decreases)	375	-	-	-	375
Changes Total	5,119	204	(4,283)	345	1,385
Closing Balance	26,370	5,689	50,982	6,456	89,497

Disclosure of intangible assets with indefinite useful life [text block]

	Years of Useful life
	(Average)
Computer Software		5
Customer		15
Brands		7

XML

BIOLOGICAL ASSETS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Biological Assets [Abstract]

Disclosure of information about agricultural produce [text block]

The average crop age by species and country is:

	Chile		Argentina		Brazil		Uruguay
Pine		24		15		15		-
Eucalyptus		12		10		7		10

Disclosure of changes in fair value measurement due to change in significant inputs used [Text block]

The following table sets forth changes in fair value of biological assets considering variations in significant assumptions considered in calculating the fair value of the assets:

		ThU.S.$
Discount rate	0,5	(98,304)
	-0,5	103,444
Margins (%)	10	370,058
	-10	(370,058)

Disclosure of detailed information about current and noncurrent biological assets [Text Block]

As of the date of these consolidated financial statements, the Current and Non-current biological assets are as follows:  

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Current		307,796		306,117
Non-current		3,459,146		3,592,874
Total		3,766,942		3,898,991

Disclosure of reconciliation of changes in biological assets [text block]

Reconciliation of carrying amount of biological assets

	12-31-2017
Movement	ThU.S.$
Opening Balance	3,898,991
Changes in Biological Assets
Additions through acquisition and costs of new plantations	182,322
Increase due to non-cash capital distribution from Vale do Corisco S.A. (see Note 15)	127,927
Sales	(5,289)
Harvest	(341,108)
Gain (losses) arising from changes in fair value less costs to sale	83,031
Increases (decreases) in Foreign Currency Translation	(5,792)
Loss of forest due to fires	(173,139)
Other Increases (decreases)	(1)
Total Changes	(132,049)
Closing Balance	3,766,942

  

	12-31-2016
Movement	ThU.S.$
Opening Balance	3,826,597
Changes in Biological Assets
Additions through acquisition and costs of new plantations	137,439
Sales	(1,351)
Harvest	(326,494)
Gain (losses) arising from changes in fair value less costs to sale	208,562
Increases (decreases) in Foreign Currency Translation	69,068
Loss of forest due to fires	(15,193)
Other Increases (decreases)	363
Total Changes	72,394
Closing Balance	3,898,991

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ENVIRONMENTAL MATTERS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about environment related disbursements [Abstract]

Disclosure of detailed information about environment related disbursements [Text Block]

As of December 31, 2017 and December 31, 2016 Arauco has made and / or has committed the following disbursements by major environmental projects:

		Disbursements undertaken 2017				Committed Disbursements
12-31-2017		State	Amount	Asset	Asset/expense	Amount	Estimated
Company	Name of project	of project	ThU.S.$	Expense	destination item	ThU.S.$	date
Arauco Do Brasil S.A.	Environmental improvement studies	In process	1,008	Assets	Property, plant and equipment	48	2018
Arauco Do Brasil S.A.	Environmental improvement studies	In process	1,058	Expense	Administration expenses	296	2018
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	5,811	Assets	Property, plant and equipment	4,068	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	17,435	Assets	Property, plant and equipment	20,694	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	Finished	10,326	Assets	Property, plant and equipment	-	-
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	47,512	Assets	Property, plant and equipment	17,837	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	26,578	Expense	Operating cost	6,214	2018
Arauco Argentina S.A.	Construction emisario	In process	2,312	Assets	Property, plant and equipment	797	2018
Arauco Argentina S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	139	Assets	Property, plant and equipment	28	2018
Arauco Argentina S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	19	Assets	Property, plant and equipment	5,921	2018
Maderas Arauco S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	432	Expense	Administration expenses	-	2018
Maderas Arauco S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	1,346	Expense	Operating cost	-	0
Maderas Arauco S.A.	Environmental improvement studies	In process	89	Assets	Property, plant and equipment	332	0
Forestal Arauco S.A.	Environmental improvement studies	In process	983	Expense	Administration expenses	1,165	2018
Forestal los Lagos S.A.	Environmental improvement studies	In process	229	Expense	Operating cost	290	2018
		TOTAL	115,277			57,690

		Disbursements undertaken 2016				Committed Disbursements
12-31-2016		State	Amount	Asset	Asset/expense	Amount	Estimated
Company	Name of project	of project	ThU.S.$	Expense	destination item	ThU.S.$	date
Arauco Do Brasil S.A.	Environmental improvement studies	In process	285	Assets	Property, plant and equipment	417	2017
Arauco Do Brasil S.A.	Environmental improvement studies	In process	385	Expense	Administration expenses	1,231	2017
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	1,585	Assets	Property, plant and equipment	1,396	2017
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of gas emissions from industrial process	In process	476	Assets	Property, plant and equipment	8,085	2018
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	611	Assets	Property, plant and equipment	20,658	2017
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	Finished	1,271	Assets	Property, plant and equipment	-	-
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	1,218	Assets	Property, plant and equipment	14,736	2018
Celulosa Arauco Y Constitucion S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	51,703	Assets	Property, plant and equipment	64,450	2017
Celulosa Arauco Y Constitucion S.A.	Environmental improvement studies	In process	26,990	Expense	Operating cost	4,180	2018
Celulosa Arauco Y Constitucion S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	Finished	144	Assets	Property, plant and equipment	-	-
Arauco Argentina S.A.	Construction emisario	In process	8	Assets	Property, plant and equipment	824	2017
Arauco Argentina S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	In process	187	Assets	Property, plant and equipment	124	2017
Arauco Argentina S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	In process	183	Assets	Property, plant and equipment	6,112	2017
Paneles Arauco S.A.	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	Finished	1,332	Expense	Operating cost	-	-
Paneles Arauco S.A.	Expansion of solid industrial waste dumpsite for management of these in the future	Finished	465	Expense	Administration expenses	-	-
Paneles Arauco S.A.	Environmental improvement studies	In process	1,217	Assets	Property, plant and equipment	304	2017
Forestal Arauco S.A. (Ex-Forestal Celco S.A.)	Environmental improvement studies	In process	643	Expense	Administration expenses	946	2017
Forestal Los Lagos S.A.	Environmental improvement studies	In process	225	Expense	Operating cost	18	2017
		TOTAL	88,928			123,481

XML

NON-CURRENT ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Non curren tAssets Held Fo rSale And Discontinued Operations Explanatory [Abstract]

Disclosure of non-current assets held for sale and discontinued operations [text block]

The following table sets forth information on the main types of non-current assets held for sale:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Land		160		160
Buildings		1,122		1,122
Property, plant and equipment		2,225		1,777
Total		3,507		3,059

XML

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of detailed information about financial instruments [text block]

Arauco's financial instruments as of December 31, 2017 and December 31, 2016, are displayed in the table below. Regarding those instruments valued at an amortized cost, as estimation of their fair value is displayed for informational purposes.

Financial Instruments	December 2017				December 2016
Thousands of dollars	Carrying amount		Fair Value		Carrying amount		Fair Value
Fair value through profit or loss (held for trading) (1)		74,849		74,849		198,582		198,582
Derivatives		1,679		1,679		3,166		3,166
Mutual funds (2)		73,170		73,170		195,416		195,416
Loans and Accounts Receivables		1,351,712		1,351,712		1,126,182		1,126,182
Cash and cash equivalents (amortized cost)		516,716		516,716		396,837		396,837
Cash		209,185		209,185		149,446		149,446
Time deposits		292,105		292,105		247,391		247,391
Agreements		15,426		15,426		-		-
Accounts Receivable (net)		830,452		830,452		715,883		715,883
Trade and other receivables		709,983		709,983		600,589		600,589
Lease receivable		13,106		13,106		764		764
Other receivables		107,363		107,363		114,530		114,530
Accounts receivable due from related parties		4,544		4,544		13,462		13,462
Other Financial Assets (5)		58,425		58,425		10,903		10,903
Financial liabilities at amortized cost (3)		5,002,072		5,198,654		5,022,725		5,158,789
Bonds issued denominated in U.S. Dollars		2,057,746		2,135,893		2,321,980		2,480,063
Bonds issued denominated in U.F. (4)		1,244,939		1,333,087		1,130,679		1,078,934
Bank Loans in U.S. Dollars		835,099		870,399		891,338		926,070
Bank borrowing denominated in U.S. Dollars		23,358		23,358		23,020		23,020
Financial leasing		112,376		107,363		113,986		108,980
Trade and other payables		717,346		717,346		537,891		537,891
Accounts payable to related parties		11,208		11,208		3,831		3,831
Financial liabilities at fair value through profit or loss		137		137		336		336
Forward		137		137		336		336
Hedging Liabilities		5,256		5,256		87,027		87,027

(1)       Assets measured at fair value through profit or loss other than mutual funds classified as cash equivalents, are presented in the line item “other financial assets” in the consolidated statements of financial position.

(2)       Although mutual funds are measured at fair value through profit or loss for purposes of the consolidated statements of financial position mutual funds are classified as “Cash and cash equivalents” due to the are highly liquid short-term investment.

(3)       Financial liabilities measured at amortized cost, other than “Trade and other payables” and derivatives are presented in the consolidated statements of financial position in the line item “Other financial liabilities” as current and non-current based on their maturity.

(4)       The Unidad de Fomento (“U.F.”) is a unit of account that is linked to, and is adjusted daily to reflect changes in the Chilean consumer price index.

(5)       Includes guarantee fund for derivatives which correspond to the collateral under swap agreements.

Disclosure of fair value measurement [text block]

The assets and liabilities measured at fair value in the consolidated statements of financial position as of December 31, 2017, have been measured based on the valuation methodologies provided in IAS 39. The methodologies applied for each financial instrument are classified according to their hierarchy as follows:

	Fair Value		Fair value
	December 2017		Level 1		Level 2		Level 3
Financial Instruments	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Fair value through profit or loss (held for trading)
Derivatives		1,679				1,679
Mutual Funds		73,170		73,170
Other financial assets		58,425		2,654		55,771
Financial liabilities measured at amortized cost
Bonds issued denominated in U.S. Dollars		2,135,893		2,135,893
Bonds issued denominated in U.F. (4)		1,333,087		1,333,087
Bank loans in U.S. Dollars		870,399				870,399
Bank borrowing denominated in U.S. Dollars		23,358				23,358
Financial leasing		107,363				107,363
Financial liabilities at fair value through profit or loss		137				137
Hedging liabilities		5,256				5,256

Disclosure of maturity analysis of financial liabilities [Text Block]

The following table sets forth a reconciliation between the financial liabilities and the consolidated statements of financial position as of December 31, 2017 and 2016:

	December 2017
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Other current financial liabilities, Total		From 13 months to 5 years		More than 5 years		Other non- current financial liabilities, Total		Total
Bonds obligations		28,013		34,981		62,994		1,054,926		2,184,765		3,239,691		3,302,685
Bank borrowing		110,700		282,172		392,872		327,424		138,161		465,585		858,457
Financial Leasing		9,928		34,413		44,341		68,035		-		68,035		112,376
Swap and Forward		137		-		137		5,256		-		5,256		5,393
Other Financial Liabilities, Total (a)		148,778		351,566		500,344		1,455,641		2,322,926		3,778,567		4,278,911

	December 2017
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Total Current		From 13 months to 5 years		More than 5 years		Total non- current		Total
Trades and other payables		717,342		4		717,346		-		-		-		717,346
Accounts payable to related companies		11,208		-		11,208		-		-		-		11,208
Accounts Payable, Total (b)		728,550		4		728,554		-		-		-		728,554
Total Pasivos financieros (a) + (b)		877,328		351,570		1,228,898		1,455,641		2,322,926		3,778,567		5,007,465

	December 2016
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Other current financial liabilities, Total		From 13 months to 5 years		More than 5 years		Other non- current financial liabilities, Total		Total
Bonds obligations		51,874		409,102		460,976		1,233,603		1,758,079		2,991,682		3,452,658
Bank borrowings		134,140		61,483		195,623		626,384		92,351		718,735		914,358
Financial leasing		9,534		30,866		40,400		73,586		-		73,586		113,986
Swap and Forward		453		-		453		86,911		-		86,911		87,364
Other Financial Liabilities, Total (a)		196,001		501,451		697,452		2,020,484		1,850,430		3,870,914		4,568,366

	December 2016
Thousands of dollars	Up to 90 days		From 91 days to 1 year		Total Current		From 13 months to 5 years		More than 5 years		Total non- current		Total
Trades and other payables		511,371		26,520		537,891		-		-		-		537,891
Accounts payable to related companies		3,831		-		3,831		-		-		-		3,831
Accounts Payable, Total (b)		515,202		26,520		541,722		-		-		-		541,722
Financial Liabilities, Total (a) + (b)		711,203		527,971		1,239,174		2,020,484		1,850,430		3,870,914		5,110,088

Disclosure of derivative financial instruments [text block]

A summary of the derivative financial instruments included in the Statements of Financial Position as of the end of this period, is presented below:

Financial Instruments	2017 Fair Value ThU.S.$		2016 Fair Value ThU.S.$
Assets at fair value through profit or loss (held for trading)		1,679		3,166
Derivative-Uruguay (1)		1,672		3,159
Forward-Colombia		7		7
Hedging Assets		55,771		8,658
Derivative-Uruguay (1)		3,037		2,029
Cross Currency Swaps		52,734		6,629
Financial liabilities at fair value through profit or loss		(137)		(336)
Forward-Colombia		(137)		(267)
Derivative-Uruguay (1)		-		(69)
Hedging Liabilities		(5,256)		(87,027)
Cross Currency Swaps		(5,248)		(86,895)
Derivative-Uruguay (1)		(8)		(132)

(1) Includes Swap and Forward from Uruguay tables.

Disclosue of detailed information about outstanding cross currency swap contracts [Text Block]

Below are the cross currency swaps that Arauco has as of December 31, 2017 and 2016 to cover the exposure to the exchange rate risk generated from bonds denominated in U.F.:

Bond	Institution	Amount U.S.$	Amount U.F.	Starting date	Ending date	Market Value ThU.S.$ 2017	Market Value ThU.S. 2016
F	Deutsche - U.K.	43,618,307	1,000,000	10-30-2011	10-30-2021	213	(4,703)
F	JP Morgan - N.A.	43,618,307	1,000,000	10-30-2011	10-30-2021	306	(4,584)
F	Deutsche - U.K.	37,977,065	1,000,000	04-30-2014	04-30-2019	6,599	1,782
F	BBVA – Chile	38,426,435	1,000,000	10-30-2014	04-30-2023	5,252	558
F	BBVA – Chile	38,378,440	1,000,000	10-30-2014	04-30-2023	5,550	908
F	Santander - Chile	37,977,065	1,000,000	10-30-2014	04-30-2023	6,051	1,427
F	BCI – Chile	37,621,562	1,000,000	10-30-2014	04-30-2023	6,549	1,954
J	Corpbanca - Chile	42,864,859	1,000,000	09-01-2010	09-01-2020	(292)	(5,505)
J	BBVA – Chile	42,864,859	1,000,000	09-01-2010	09-01-2020	(292)	(5,505)
J	Deutsche - U.K.	42,864,859	1,000,000	09-01-2010	09-01-2020	(356)	(5,590)
J	Santander – Spain	42,873,112	1,000,000	09-01-2010	09-01-2020	(263)	(5,463)
J	BBVA – Chile	42,864,257	1,000,000	09-01-2010	09-01-2020	(152)	(5,318)
P	Corpbanca - Chile	46,474,122	1,000,000	05-15-2012	11-15-2021	(1,775)	(6,355)
P	JP Morgan - N.A.	47,163,640	1,000,000	11-15-2012	11-15-2021	(1,753)	(6,157)
P	BBVA – Chile	42,412,852	1,000,000	11-15-2013	11-15-2023	1,854	(2,548)
P	Santander - Chile	41,752,718	1,000,000	11-15-2013	11-15-2023	2,777	(1,591)
P	Deutsche - U.K.	41,752,718	1,000,000	11-15-2013	11-15-2023	2,800	(1,564)
R	Santander - Chile	128,611,183	3,000,000	10-01-2014	04-01-2024	(365)	(13,815)
R	JP Morgan - U.K.	43,185,224	1,000,000	10-01-2014	04-01-2024	329	(4,039)
R	Corpbanca - Chile	43,277,070	1,000,000	10-01-2014	04-01-2024	327	(4,026)
Q	BCI - Chile	43,185,224	1,000,000	10-01-2014	04-01-2021	1,022	(3,524)
Q	BCI - Chile	43,196,695	1,000,000	10-01-2014	04-01-2021	1,070	(3,443)
S	Santander - Chile	201,340,031	5,000,000	11-15-2016	11-15-2026	12,035	(3,165)
						47,486	(80,266)

Disclosure of detailed information about outstanding commodity contracts [Text Block]

The agreements that are in force and effect as of December 31, 2017 and 2016, are detailed below:

Commodity	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
Fuel Oil N°6	JPMorgan Chase Bank, N.A.		4,760		1,372
Fuel Oil N°6	DNB Bank ASA		4,002		732
Fuel Oil N°6	Citibank U.K.		761		112
					2,216

Commodity	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
Fuel Oil N°6	JPMorgan Chase Bank, N.A.		5,508		1,059
Fuel Oil N°6	DNB Bank ASA		2,661		156
Fuel Oil N°6	Citibank U.K.		378		83
					1,298

Disclosure of detailed information about outstanding interest rate swap contracts [Text Block]

In addition, Arauco Uruguay's maintains an Interest Rate Swap in force and effect, a derivative instrument which purpose is to set the interest rate of a variable rate debt in the same currency (USD). The valuation off this instrument as of December 31, 2017, is shown below:

Exchange rate	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
USD	DNB Bank ASA		50,638		729

Exchange rate	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
USD	DNB Bank ASA		59,077		650

Disclosure of detailed information about non derivative financial assets [Text Block]

As of December 31, 2017 and 2016, there are provisions for impairment for ThU.S.$ 14,501 and ThU.S.$ 16,644, respectively.

	December 2017	December 2016
	ThU.S.$	ThU.S.$
Loans and Accounts Receivables	1,351,712	1,126,182
Cash and cash equivalents	516,716	396,837
Cash	209,185	149,446
Time Deposits	292,105	247,391
Agreements	15,426	-
Trade and other receivables (net)	834,996	729,345
Trade and other receivables	709,983	600,589
Lease receivable	13,106	764
Other receivables	107,363	114,530
Accounts receivable due from related parties	4,544	13,462

Disclosure of composition of cash and cash equivalents [Text Block]

The composition of cash and cash equivalents (including the balance of mutual funds displayed in this note as valuation, instruments at fair value with profit or loss) at December 31, 2017 and December 31, 2016, classified by origin coins is as follow:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Cash and Cash Equivalents		589,886		592,253
U.S. Dollars		501,352		524,426
Euro		4,306		2,357
Other currencies		61,037		55,069
Chilean pesos		23,191		10,401

Disclosure of detailed information about trade and other receivables by currency wise [Text Block]

The following table sets forth trade and other current/non-current receivables classified by currencies as of December 31, 2017 and December 31, 2016:

	12-31-2017		12-31-2016
	ThU.S.$		ThU.S.$
Trades and other current receivables		814,412		701,610
U.S. Dollars		550,674		489,056
Euros		20,498		26,544
Other currencies		134,238		77,907
Chilean pesos		106,442		106,681
U.F.		2,560		1,422
Accounts receivable from related parties, current		3,488		12,505
U.S. Dollars		726		274
Other currencies		171		726
Chilean pesos		2,192		10,548
U.F.		399		957
Trade and other non-current receivables		16,040		14,273
U.S. Dollars		4,247		6,895
Other currencies		3,345		527
Chilean pesos		6,692		5,753
U.F.		1,756		1,098
Accounts receivable from related parties, non-current		1,056		957
U.F.		1,056		957

Disclosure of financial liabilities [text block]

Arauco’s financial liabilities to the date of these consolidated financial statements are as follows:

Financial Liabilities	December 2017 ThU.S.$		December 2016 ThU.S.$
Total Financial Liabilities		5,007,465		5,110,088
Financial liabilities at fair value through profit or loss (held for trading)		137		336
Hedging Liabilities		5,256		87,027
Financial Liabilities Measured at Amortized Cost		5,002,072		5,022,725

Disclosure of current portion of non current borrowings [Text Block]

The following table sets forth the current portion of the non-current bank borrowings and debt issued as of December 31, 2017 and 2016.

	December 2017 ThU.S.$		December 2016 ThU.S.$
Bank borrowings - current portion		92,693		88,028
Bonds issued - current portion		107,268		62,506
Total		199,961		150,534

Disclosure of detailed information about non derivative financial liabilities [Text Block]

		12-31-2017		12-31-2016		12-31-2017		12-31-2016
		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
	Currency	Amortized Cost				Fair Value
Total Financial Liabilities			5,002,072		5,022,725		5,198,654		5,158,789
Bonds Issued	U.S. Dollar		2,057,747		2,321,980		2,135,893		2,480,063
Bonds Issued	U.F.		1,244,938		1,130,679		1,333,087		1,078,934
Bank borrowings	U.S. Dollar		834,908		891,338		870,399		926,070
Bank borrowings	Other currencies		23,549		23,020		23,358		23,020
Financial Leasing	Other currencies		96,913		98,316		92,542		94,052
Financial Leasing	Chilean pesos		15,463		15,670		14,821		14,928
Trades and Other Payables	U.S. Dollar		194,342		150,162		194,342		150,162
Trades and Other Payables	Euro		8,848		13,034		8,848		13,034
Trades and Other Payables	Other currencies		158,567		70,736		158,567		70,736
Trades and Other Payables	Chilean pesos		333,529		285,359		333,529		285,359
Trades and Other Payables	U.F.		22,060		18,600		22,060		18,600
Related party payables	U.S. Dollar		1,354		1,969		1,354		1,968
Related party payables	Chilean pesos		9,854		1,862		9,854		1,863

Disclosure of financial liabilities at amortized cost [Text Block]

The financial liabilities at amortized cost presented in the consolidated statements of financial positions as of December 31, 2017 and 2016 are as follows: 

	December 2017
	Current ThU.S.$		Non-Current ThU.S.$		Total ThU.S.$
Other financial liabilities		500,207		3,773,311		4,273,518
Trade and other payables		717,346		-		717,346
Related Party Payables		11,208		-		11,208
Total Financial Liabilities Measured at Amortized Cost		1,228,761		3,773,311		5,002,072

	December 2016
	Current ThU.S.$		Non-Current ThU.S.$		Total ThU.S.$
Other financial liabilities		697,000		3,784,003		4,481,003
Trade and other payables		537,891		-		537,891
Related Party Payables		3,831		-		3,831
Total Financial Liabilities Measured at Amortized Cost		1,238,722		3,784,003		5,022,725

Disclosure of reconciliation of reserve of cash flow hedges [Text Block]

The following table sets forth the reconciliation balances of cash flow hedges presented in Other Comprehensive Income:

	January-December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Opening balance		1,096		(55,396)		(53,022)
Gains (losses) on cash flow hedges		22,212		84,045		11,859
Recycle of cash flow hedges to profit or loss		(16,965)		(10,198)		(16,122)
Income tax		(5,917)		(20,055)		(1,738)
Recycle of income tax		4,326		2,700		3,627
Closing balance		4,752		1,096		(55,396)

Disclosure of financial covenants to be complied [Text Block]

The following table sets forth the financial covenants that the Company has to comply with as part of the terms of certain of its obligations:

					Interest
	December 2017		December 2016		coverage	Debt level
Instrument	ThU.S.$		ThU.S.$		>= 2,0x	(1) <= 1,2x
Domestic bonds (Chile)		1,244,939		1,130,679	N/R	v
Syndicate Loan Scotia		199,597		298,967	v	v
Syndicate Loan Banco Estado - Grayling		130,953		-	v	v

N/R: Not required for the financial obligation

(1) Debt to equity ratio (financial debt divided by equity plus non-controlling interests)

Disclosure of external credit grades [text block]

The following table sets forth the credit ratings of our debt instruments as of December 31, 2017, are as follows:

Instrument	Standard &; Poor’s	Fitch Ratings	Moody’s	Feller Rate
Local bonds	-	AA-	-	AA-
Foreign bonds	BBB-	BBB	Baa3	-

Disclosure of credit risk exposure [text block]

Arauco does not have a securitized portfolio.

	December 2017		December 2016
	ThU.S.$		ThU.S.$
Current Receivables
Trade receivables		706,485		598,597
Financial lease receivables		11,932		411
Other debtors		95,995		102,602
Net subtotal		814,412		701,610
Trade receivables		715,217		609,102
Financial lease receivables		12,033		512
Other debtors		101,663		108,640
Gross subtotal		828,913		718,254
Provision for doubtful trade receivables		8,732		10,505
Provision for doubtful lease receivables		101		101
Provision for doubtful other debtors		5,668		6,038
Subtotal Bad Debt		14,501		16,644
Non-Current Receivables
Trade receivables		3,498		1,992
Financial lease receivables		1,174		353
Other debtors		11,368		11,928
Net Subtotal		16,040		14,273
Trade receivables		3,498		1,992
Financial lease receivables		1,174		353
Other debtors		11,368		11,928
Gross subtotal		16,040		14,273
Provision for doubtful trade receivables		-		-
Provision for doubtful lease receivables		-		-
Provision for doubtful other debtors		-		-
Subtotal Bad Debt		-		-

Disclosure of financial assets that are either past due or impaired [text block]

Below we provide detail regarding accounts receivable, classified in tranches.

December 31, 2017
Age of trade receivables
Days	Non- past due	1 to 30	31 to 60	61 to 90	91 to 120	121 to 150	151 to 180	181 to 210	211 to 250	More than 250	Total
ThU.S.$	662,963	39,459	551	955	50	34	2,238	56	97	12,312	718,715
%	92.20%	5.50%	0.10%	0.10%	0.00%	0.00%	0.30%	0.00%	0.00%	1.70%	100%

December 31, 2016
Age of trade receivables
Days	Non- past due	1 to 30	31 to 60	61 to 90	91 to 120	121 to 150	151 to 180	181 to 210	211 to 250	More than 250	Total
ThU.S.$	564,378	31,106	257	881	39	18	21	11	64	14,319	611,094
%	92.40%	5.10%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	2.30%	100%

Disclosure of allowance for credit losses [text block]

Regarding the provisions from non-enforceable accounts, below we provide detail for the movements as of December 31, 2017, 2016 and 2015:

	12-31-2017		12-31-2016		12-31-2015
	ThU.S.$		ThU.S.$		ThU.S.$
Opening balance		(16,644)		(19,860)		(18,520)
Impairment losses recognized on receivables		(139)		(3,950)		(3,072)
Reversal of impairment losses		2,282		7,166		1,732
Closing balance		(14,501)		(16,644)		(19,860)

Disclosure of financial guarantees [Text Block]

Guarantees Arauco Group (ThU.S.$)
Guarantees Debtors (received from clients)
Certificate of deposits	7,106	7.3	%
Standby	6,942	7.0	%
Promissory notes	71,961	72.9	%
Finance	3,094	3.1	%
Mortgage	6,849	6.9	%
Pledge	2,580	2.6	%
Promissory notes	200	0.2	%
Total Guarantees	98,732	100.0	%

Disclosure of detailed information about open account receivables [Text Block]

In summary, the open account debt covered by the various insurance policies and guarantees amounts to 97.4% and, therefore, Arauco’s portfolio exposure amounts to 2.6%.

Secured Open Accounts Receivable	ThU.S.$			%
Total open accounts receivable		391,992	100.0	%
Secured receivables (*)		381,800	97.4	%
Unsecured receivables		10,192	2.6	%

(*) Insured Debt is deemed to be the portion of accounts receivable that is covered by a credit company or by guarantees such as standby letters of credit, mortgages, performance bonds, among others

Disclosure of maturity analysis for non-derivative financial liabilities [text block]

The following tables detail Arauco’s liquidity analysis for its financial liabilities as of December 31, 2017 and December 31, 2016. The tables have been drawn up based on the contractual undiscounted cash outflows and their remaining contractual maturities:

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective		Nominal
Tax ID	Name	Currency	Loans with banks	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Scotiabank- Chile	25	199,572	-	-	-	-	-	199,597	-	1.70	%	Libor + 0.70%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank	1,167	1,032	2,434	2,361	2,282	2,201	2,120	2,199	11,398	3.51	%	Libor + 2.05%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank	2,953	2,787	5,870	5,676	-	-	-	5,740	11,546	3.26	%	Libor + 1.80%
-	Zona Franca Punta Pereira	U.S. Dollar	BBVA	14,007	-	-	-	-	-	-	14,007	-	3.13	%	Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Citibank	-	4,503	-	-	-	-	-	4,503	-	3.10	%	Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Scotiabank	3	2,506	-	-	-	-	-	2,509	-	3.17	%	3.17%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo	4,723	4,161	9,828	9,526	9,201	8,885	8,570	8,884	46,010	3.51	%	Libor + 2.05%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo	11,946	11,255	23,735	22,938	-	-	-	23,201	46,673	3.26	%	Libor + 1.80%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Finnish Export Credit	25,176	21,214	50,198	49,484	47,929	47,207	23,564	46,390	218,382	3.20	%	3.20%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Dnb Nor Bank	-	45	-	-	-	-	-	45	-	0.00	%	Libor + 2%
-	Eufores S.A.	U.S. Dollar	Banco Republica Oriental de Uruguay	24,746	12,564	-	-	-	-	-	37,310	-	3.08	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Citibank	6	-	-	-	-	-	-	6	-	3.43	%	Libor + 2%
-	Eufores S.A.	U.S. Dollar	Banco HSBC- Uruguay	1,200	-	-	-	-	-	-	1,200	-	2.91	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Banco Itau -Uruguay	4	12,513	-	-	-	-	-	12,517	-	3.08	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Heritage	1,352	-	-	-	-	-	-	1,352	-	3.03	%	Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Banco Santander	20,230	5,013	-	-	-	-	-	25,243	-	3.06	%	Libor + 1.75%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander	23	67	89	46	-	-	-	90	135	9.50	%	9.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Alfa	18	56	74	74	74	7	-	74	229	10.75	%	Tljp+2%+ spread 1.75%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander	3	7	10	10	7	-	-	10	27	11.00	%	Tljp+2%+ spread 2%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau	1	-	-	-	-	-	-	1	-	2.50	%	2.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau	13	37	4	-	-	-	-	50	4	3.50	%	3.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco	11	33	36	-	-	-	-	44	36	6.00	%	6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Votorantim	16	-	-	-	364	364	-	16	728	5.00	%	5.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra	22	65	22	-	-	-	-	87	22	6.00	%	6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra	7	20	27	27	11	-	-	27	65	10.00	%	10.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	981	907	-	-	-	-	-	1,888	-	9.50	%	9.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	-	16	16	8	-	-	-	16	24	9.00	%	9.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander	12	52	85	74	64	54	-	64	277	10.49	%	10.49%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bradesco	20	69	53	28	28	16	-	89	125	9.00	%	9.00%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Alfa	2	7	9	9	5	-	-	9	23	8.20	%	Cesta+2%+spread 1.8%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Alfa	6	17	23	22	11	-	-	23	56	10.80	%	Tljp+2%+Spread 1.8%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Itau -Brazil	1	-	-	-	-	-	-	1	-	2.50	%	2.50%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Votorantim - Brazil	192	619	403	-	322	322	-	811	1,047	8.10	%	Tljp+1.8%+Spread 2%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Votorantim - Brazil	34	-	78	-	-	-	-	34	78	7.70	%	Cesta+1.3%+spread 2%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bndes Subcrédito A-B-D	4	-	-	115	458	344	-	4	917	9.82	%	Tljp + 2.91%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Bndes Subcrédito C	5	-	-	24	145	120	-	5	289	7.30	%	Cesta+2.91%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Santander	995	984	107	212	202	161	-	1,979	682	8.90	%	8.90%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito E-I	23	754	3,017	2,262	-	-	-	777	5,279	9.91	%	Tljp + 2.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito F-J	16	452	1,810	1,358	-	-	-	468	3,168	10.91	%	Tljp + 3.91%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Bndes Subcrédito G-K	63	339	2,037	1,697	-	-	-	402	3,734	7.31	%	Cesta + 2.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito H-L	19	504	2,011	1,509	-	-	-	523	3,520	12.11	%	Tljp + 5.11%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Banco Santander	-	-	27	27	27	-	-	-	81	11.00	%	Tljp+2%+Spread 2%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Banco Santander	-	-	13	13	12	-	-	-	38	8.40	%	Cesta+2%+Spread 2%
-	Novo Oeste Gestao de Ativos Florestais S.A.	Brazilian Real	Banco Santander	-	1	26	28	28	2	-	1	84	11.00	%	Tljp+2%+Spread 2%
-	Novo Oeste Gestao de Ativos Florestais S.A.	U.S. Dollar	Banco Santander	-	1	12	13	13	1	-	1	39	8.40	%	Tljp+2%+Spread 2%
-	Flakeboard America Ltd	U.S. Dollar	Banco del Estado de Chile	675	-	5,060	4,839	17,925	17,925	111,309	675	157,058	3.00	%	Libor + 1.65%
			Total	110,700	282,172	107,114	102,380	79,108	77,609	145,563	392,872	511,774

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective		Nominal
Tax ID	Name	Currency	Bonds	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F	-	1,528	28,132	27,301	26,469	25,638	156,181	1,528	263,721	4.24	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F	-	611	11,340	11,005	10,670	10,335	62,958	611	106,308	4.25	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-J	2,342	-	7,027	224,916	-	-	-	2,342	231,943	3.23	%	3.22	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-P	-	1,103	8,633	8,633	8,633	28,334	240,175	1,103	294,408	3.96	%	3.96	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-Q	-	22,364	23,445	22,796	11,154	-	-	22,364	57,395	2.96	%	2.98	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-R	-	1,944	7,777	7,777	7,777	7,777	314,228	1,944	345,336	3.57	%	3.57	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-S	-	650	5,200	5,200	5,200	5,200	230,228	650	251,028	2.44	%	2.89	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2019	6,168	-	217,034	-	-	-	-	6,168	217,034	7.26	%	7.25	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2021	4,422	-	10,013	10,013	204,138	-	-	4,422	224,164	5.02	%	5.00	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2022	5,705	-	12,153	12,153	12,153	259,072	-	5,705	295,531	4.77	%	4.75	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2024	9,375	-	22,500	22,500	22,500	22,500	548,324	9,375	638,324	4.52	%	4.50	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2027	-	3,175	19,375	19,375	19,375	19,375	582,479	3,175	659,979	3.90	%	3.88	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2047	-	3,607	22,000	22,000	22,000	22,000	943,160	3,607	1,031,160	5.50	%	5.50	%
			Total	28,012	34,982	394,629	393,669	350,069	400,231	3,077,733	62,994	4,616,331

December 31, 2017				Maturity							Total
				Up to 3	3 to 12	1 to 2	2 to 3	3 to 4	4 to 5	More than 5		Non
			Name - Country	months	months	years	years	years	years	years	Current	Current	Effective	Nominal
Tax ID	Name	Currency	Lease	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	rate	rate
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Santander	168	1,026	983	983	-	-	-	1,194	1,966	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Scotiabank	1,563	3,772	4,139	4,139	638	638	-	5,335	9,554	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Estado	749	2,182	2,318	2,318	230	230	-	2,931	5,096	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco de Chile	3,346	13,995	7,886	7,886	2,247	2,247	-	17,341	20,266	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco BBVA	1,151	3,421	447	447	-	-	-	4,572	894	-	-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Credito e Inversiones	1,443	5,901	4,856	4,856	5,354	5,354	-	7,344	20,420	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Santander	50	17	-	-	-	-	-	67	-	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Chile	607	1,547	1,015	1,015	123	123	-	2,154	2,276	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Credito e Inversiones	767	2,301	3,032	3,032	179	179	-	3,068	6,422	-	-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Scotiabank	84	251	334	334	237	236	-	335	1,141	-	-
			Total	9,928	34,413	25,010	25,010	9,008	9,007	-	44,341	68,035

December 31, 2016					Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Loans with banks	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Scotiabank- Chile		-		36		302,242		-		-		-		-		36		302,242		1.63%		1.63%
-	Arauco Argentina S.A.	U.S. Dollar	Banco Galicia- Argentina		5,031		-		-		-		-		-		-		5,031		-		2.00%		2.00%
-	Arauco Argentina S.A.	Argentine Pesos	Banco Macro- Argentina		11		29		-		-		-		-		-		40		-		15.25%		15.25%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank		1,178		1,027		2,450		2,387		2,324		2,256		4,302		2,205		13,719		Libor + 2.05%		Libor + 2.05%
-	Zona Franca Punta Pereira	U.S. Dollar	Interamerican Development Bank		2,990		2,782		5,997		5,830		5,664		-		-		5,772		17,491		Libor + 1.80%		Libor + 1.80%
-	Zona Franca Punta Pereira	U.S. Dollar	BBVA		16,176		-		-		-		-		-		-		16,176		-		3.23%		Libor + 2%
-	Zona Franca Punta Pereira	U.S. Dollar	Citibank		-		2,501		-		-		-		-		-		2,501		-		2.95%		Libor + 1.75%
-	Zona Franca Punta Pereira	U.S. Dollar	Scotiabank		2,501		-		-		-		-		-		-		2,501		-		1.60%		1.60%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo		4,768		4,143		9,895		9,637		9,379		9,096		17,371		8,911		55,378		3.30%		Libor + 2.05%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Banco Interamericano de Desarrollo		12,104		11,237		24,249		23,568		22,888		-		-		23,341		70,705		3.05%		Libor + 1.80%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Finnish Export Credit		25,474		20,774		43,915		44,538		45,209		45,882		70,166		46,248		249,710		3.20%		3.20%
-	Celulosa y Energia Punta Pereira	U.S. Dollar	Dnb Nor Bank		89		-		-		-		-		-		-		89		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Republica Oriental de Uruguay		24,733		12,563		-		-		-		-		-		37,296		-		Libor + 1.75%		Libor + 1.75%
-	Eufores S.A.	U.S. Dollar	Citibank		5		-		-		-		-		-		-		5		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco HSBC- Uruguay		1,202		-		-		-		-		-		-		1,202		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Itau -Uruguay		10,135		5,003		-		-		-		-		-		15,138		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Heritage		1,351		-		-		-		-		-		-		1,351		-		Libor + 2.00%		Libor + 2.00%
-	Eufores S.A.	U.S. Dollar	Banco Santander		22,735		-		-		-		-		-		-		22,735		-		Libor + 2.00%		Libor + 2.00%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco ABC - Brazil		7		18		-		-		-		-		-		25		-		2.50%		2.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Itau		2,713		321		-		-		-		-		-		3,034		-		9.50%		9.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Votorantim		13		25		-		-		-		-		-		38		-		5.50%		5.50%
-	Arauco Do Brasil S.A.	Brazilian Real	Banco Santander		2		46		100		100		57		7		-		48		264		9.34%		9.34%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau		2		6		1		-		-		-		-		8		1		2.50%		2.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Itau		13		38		51		4		-		-		-		51		55		3.50%		3.50%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco		11		33		44		37		-		-		-		44		81		6.00%		6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Bradesco		400		-		-		-		-		-		-		400		-		8.75%		8.75%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Votorantim		17		-		-		-		-		369		369		17		738		5.00%		5.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra		22		66		88		22		-		-		-		88		110		6.00%		6.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Safra		8		21		27		27		27		11		-		29		92		10.00%		10.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander		1		16		16		16		8		-		-		17		40		9.00%		9.00%
-	Arauco Florestal Arapoti S.A.	Brazilian Real	Banco Santander		5		18		30		30		19		8		-		23		87		9.22%		9.22%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bradesco		20		57		77		23		-		-		-		77		100		5.91%		5.91%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Alfa		-		5		9		9		9		5		-		5		32		7.94%		7.94%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Alfa		-		12		23		23		23		11		-		12		80		11.30%		11.30%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Itau -Brazil		4		12		1		2		-		-		-		16		3		2.50%		2.50%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Votorantim - Brazil		195		520		694		405		-		327		327		715		1,753		8.59%		8.59%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Votorantim - Brazil		35		101		134		78		-		-		-		136		212		7.44%		7.44%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Bndes Subcrédito A-B-D		4		-		-		-		114		460		346		4		920		9.82%		9.82%
-	Arauco Forest Brasil S.A.	U.S. Dollar	Banco Bndes Subcrédito C		4		-		-		-		24		144		120		4		288		7.05%		7.05%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco Santander		1		32		-		-		-		-		-		33		-		9.32%		9.32%
-	Arauco Forest Brasil S.A.	Brazilian Real	Banco John Deere		62		41		41		32		10		-		-		103		83		6.00%		6.00%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito E-I		23		-		758		3,030		2,272		-		-		23		6,060		8.91%		8.91%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito F-J		16		-		454		1,818		1,363		-		-		16		3,635		9.91%		9.91%
-	Mahal Emprendimientos Pat. S.A.	U.S. Dollar	Bndes Subcrédito G-K		60		-		339		2,037		1,697		-		-		60		4,073		7.05%		7.05%
-	Mahal Emprendimientos Pat. S.A.	Brazilian Real	Bndes Subcrédito H-L		19		-		504		2,020		1,514		-		-		19		4,038		11.11%		11.11%
			Total		134,140		61,483		392,139		95,673		92,601		58,576		93,001		195,623		731,990

December 31, 2016				Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Bonds	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-F		-		1,931		11,587		29,091		27,486		33,383		180,490		1,931		282,037	4.24	%	4.21	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-J		2,115		-		6,344		6,344		203,030		-		-		2,115		215,718	3.23	%	3.22	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-P		-		996		7,794		7,794		7,794		7,794		242,571		996		273,747	3.96	%	3.96	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-Q		586		9,839		21,758		21,172		20,586		10,073		-		10,425		73,589	2.96	%	2.98	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-R		1,755		-		7,022		7,022		7,022		7,022		290,572		1,755		318,660	3.57	%	3.57	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.F.	Barau-S		-		600		4,695		4,695		4,695		4,695		210,785		600		229,565	2.44	%	2.89	%
-	Arauco Argentina S.A.	U.S. Dollar	Bono 144 A – Argentina		-		270,787		-		-		-		-		-		270,787		-	6.39	%	6.38	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee Bonds 2019		15,205		-		36,250		534,254		-		-		-		15,205		570,504	7.26	%	7.25	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee Bonds 2nd Emission		2,734		124,949		-		-		-		-		-		127,683		-	7.50	%	7.50	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2021		8,889		-		20,000		20,000		20,000		406,926		-		8,889		466,926	5.02	%	5.00	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2022		11,215		-		23,750		23,750		23,750		23,750		504,895		11,215		599,895	4.77	%	4.75	%
93.458.000-1	Celulosa Arauco y Constitución S.A.	U.S. Dollar	Yankee 2024		9,376		-		22,500		22,500		22,500		22,500		569,625		9,376		659,625	4.52	%	4.50	%
			Total		51,875		409,102		161,700		676,622		336,863		516,143		1,998,938		460,977		3,690,266

December 31, 2016				Maturity														Total
				Up to 3		3 to 12		1 to 2		2 to 3		3 to 4		4 to 5		More than 5				Non
			Name - Country	months		months		years		years		years		years		years		Current		Current		Effective		Nominal
Tax ID	Name	Currency	Lease	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		rate		rate
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Santander		237		1,616		-		1,179		-		1,201		-		1,853		2,380		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Scotiabank		1,571		4,970		-		7,731		-		4,259		-		6,541		11,990		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Estado		645		2,008		-		5,092		-		2,035		-		2,653		7,127		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco de Chile		3,294		10,861		-		16,861		-		8,906		-		14,155		25,767		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco BBVA		1,673		5,030		-		4,663		-		183		-		6,703		4,846		-		-
85.805.200-9	Forestal Arauco S.A.	U.F.	Banco Credito e Inversiones		982		2,994		-		7,501		-		2,824		-		3,976		10,325		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Santander		46		138		-		61		-		-		-		184		61		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Chile		439		1,317		-		2,418		-		929		-		1,756		3,347		-		-
85.805.200-9	Forestal Arauco S.A.	Chilean Pesos	Banco Credito e Inversiones		647		1,932		-		5,053		-		2,690		-		2,579		7,743		-		-
			Total		9,534		30,866		-		50,559		-		23,027		-		40,400		73,586

Disclosure of financial guarantees granted [Text block]

Direct and indirect guarantees granted by Arauco:

DIRECT
Subsidiary	Guarantee	Assets Pledged	Currency	ThU.S.$		Guarantor
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		488	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		313	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		230	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		209	Directorate General of Maritime Territory and Merchant Marine
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Chilean Pesos		100	National Customs Service
Arauco Forest Brasil S.A.	Mortgage Industrial Plant of Jaguariaíva of Arauco do Brasil	-	U.S. Dollar		46.346	BNDES
Arauco Forest Brasil S.A.	Endorsement of ADB + Guarantee Letter AISA	-	U.S. Dollar		3.539	Bank Votorantim S.A.
Arauco Forest Brasil S.A.	Endorsement of Arauco do Brasil	-	U.S. Dollar		645	Bank Votorantim S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		224	Bank Santander S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		134	Bank Bradesco S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		113	Bank Bradesco S.A.
Arauco Forest Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		97	Bank Bradesco S.A.
Arauco do Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		209	Bank Santander S.A.
Arauco do Brasil S.A.	Equipment	Property plant and equipment	U.S. Dollar		206	Bank Alpha S.A.
Arauco Florestal Arapoti S.A.	Endorsement of Arauco do Brasil	-	U.S. Dollar		727	Bank Votorantim S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		389	Bank Safra S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		232	Bank Santander S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		201	Bank Itaú BBA S.A.
Arauco Florestal Arapoti S.A.	Equipment	Property plant and equipment	U.S. Dollar		96	Bank Bradesco S.A.
Arauco Bioenergía S.A.	Guarantee letter	-	Chilean Pesos		185	Minera Escondida Ltda.
Arauco Bioenergía S.A.	Guarantee letter	-	Chilean Pesos		121	CODELCO S.A.
		Total			54.804

INDIRECT
Subsidiary	Guarantee	Assets Pledged	Currency	ThU.S.$		Guarantor
Celulosa Arauco y Constitución S.A.	Suretyship not supportive and cumulative	-	U.S. Dollar		408.351	Joint Ventures (Uruguay)
Celulosa Arauco y Constitución S.A.	Full Guarantee	-	U.S. Dollar		131.000	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	U.S. Dollar		4.362	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	Brazilian Real		14.593	Arauco Forest Brasil y Mahal (Brazil)
Celulosa Arauco y Constitución S.A.	Guarantee letter	-	U.S. Dollar		43.896	Masisa S.A.
		Total			602.202

Disclosure of financial instruments by type of interest rate [text block]

Thousands of dollars	December 2017 ThU.S.$		Total
Fixed rate		3,676,210		86.0	%
Bonds issued		3,302,685
Bank borrowings (*)		261,149
Financial leasing		112,376
Variable rate		597,308		14.0	%
Bonds issued		-
Loans with Banks		597,308
Total		4,273,518		100.0	%

Thousands of dollars	December 2016 ThU.S.$		Total
Fixed rate		3,903,942		87.1	%
Bonds issued		3,452,659
Bank borrowings (*)		337,297
Financial leasing		113,986
Variable rate		577,061		12.9	%
Bonds issued		-
Loans with Banks		577,061
Total		4,481,003		100.0	%

(*) Includes variable rate bank borrowings changed by fixed rate swaps

Colombia [Member]

Disclosure of detailed information about outstanding forward contracts [Text Block]

Forward contracts that are in force and effect, executed by Arauco Colombia as of December 31, 2017 and 2016, are detailed in the following table:

Exchange rate	Institution	Amount ThU.S.$		Starting date	Ending date	December 2017 Market Value ThU.S.$
USDCOP	BBVA Colombia		6,000	10-11-2017	01-10-2018		(1)
USDCOP	Corpbanca Colombia		8,000	11-14-2017	02-13-2018		(136)
USDCOP	Corpbanca Colombia		2,100	12-21-2017	03-12-2018		7
							(130)

Exchange rate	Institution	Amount ThU.S.$		Starting date	Ending date	December 2016 Market Value ThU.S.$
USDCOP	BBVA Colombia		5,000	10-28-2016	01-11-2017		7
USDCOP	BBVA Colombia		4,000	11-18-2016	02-09-2017		(255)
USDCOP	BBVA Colombia		7,000	12-13-2016	03-10-2017		(12)
							(260)

Uruguay [Member]

Disclosure of detailed information about outstanding forward contracts [Text Block]

As of December 31, 2017 and 2016, Arauco Uruguay maintains the following forward contracts in force and effect for the purposes of ensuring an exchange rate for sale of dollars:

Exchange rate	Institution	Notional ThU.S.$		December 2017 Market Value ThU.S.$
UYUUSD	Banco Santander Uy		24,000		1,213
UYUUSD	HSBC Uruguay		9,000		543
					1,756

Exchange rate	Institution	Notional ThU.S.$		December 2016 Market Value ThU.S.$
UYUUSD	Banco Santander Uy		16,600		1,633
UYUUSD	Citibank U.K.		3,200		150
UYUUSD	HSBC Uruguay		10,750		1,256
					3,039

XML

REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Reportable Segments [Abstract]

Disclosure of operating segments [text block]

Below, please find summarized information concerning the assets, liabilities and profits and losses at the end of each period, by segments. The profit (loss) of each segment informed takes into consideration that taxes and income and financial costs have not been allocated to the various segments, and are shown as part of the Corporate’s segment:

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues from external customers	2,451,363	114,122	2,633,773	39,083	-	5,238,341	-	5,238,341
Revenues from transactions with other operating segments	43,829	970,384	6,297	35,659	-	1,056,169	(1,056,169)	-
Finance income	-	-	-	-	19,640	19,640	-	19,640
Finance costs	-	-	-	-	(287,958)	(287,958)	-	(287,958)
Net finance costs	-	-	-	-	(268,318)	(268,318)	-	(268,318)
Depreciation and amortizations	246,382	22,011	142,504	3,568	7,086	421,551	-	421,551
Sum of significant income accounts	581	91,089	1,304	-	-	92,974	-	92,974
Sum of significant expense accounts	-	138,139	3,333	-	-	141,472	-	141,472
Profit (loss) of each reportable segment	589,934	(210,566)	225,317	6,668	(341,001)	270,352	-	270,352
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates	-	-	-	-	4,855	4,855	-	4,855
Joint ventures	-	-	10,378	-	1,784	12,162	-	12,162
Income tax expense	-	-	-	-	30,992	30,992	-	30,992
Geographical information on revenues
Revenue – Chilean entities	1,781,769	55,946	1,265,161	692	-	3,103,568	-	3,103,568
Revenue – Foreign entities	669,594	58,176	1,368,612	38,391	-	2,134,773	-	2,134,773
Total Ordinary Income	2,451,363	114,122	2,633,773	39,083	-	5,238,341	-	5,238,341

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets	191,771	211,245	230,395	428	4,127	637,966	-	637,966
Acquisition and contribution of investments in associates and joint venture	-	-	-	-	15,918	15,918	-	15,918

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2017	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,035,105	5,040,500	3,024,120	52,640	881,000	14,033,365	(38,765)	13,994,600
Segments assets (excluding deferred tax assets)	5,035,105	5,040,500	3,024,120	52,640	872,734	14,025,099	(38,765)	13,986,334
Deferred tax assets	-	-	-	-	8,266	8,266	-	8,266
Investments accounted through equity method
Associates	-	48,921	-	-	110,046	158,967	-	158,967
Joint Ventures	-	-	189,568	-	20,237	209,805	-	209,805
Segment liabilities	325,598	184,721	489,022	16,100	5,862,266	6,877,707	-	6,877,707
Segment liabilities (excluding deferred tax liabilities)	325,598	184,721	489,022	16,100	4,376,902	5,392,343	-	5,392,343
Deferred tax liabilities	-	-	-	-	1,485,364	1,485,364	-	1,485,364
Geographical information on non-current assets
Chile	2,537,947	3,221,911	666,234	22,220	187,639	6,635,951	(4,635)	6,631,316
Foreign countries	1,700,240	1,648,557	1,191,895	21,571	30,658	4,592,921	-	4,592,921
Non-current assets, Total	4,238,187	4,870,468	1,858,129	43,791	218,297	11,228,872	(4,635)	11,224,237

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues from external customers	2,146,079	96,488	2,494,750	24,068	-	4,761,385	-	4,761,385
Revenues from transactions with other reportable segments	41,586	1,105,220	6,938	34,085	-	1,187,829	(1,187,829)	-
Finance income	-	-	-	-	29,701	29,701	-	29,701
Finance costs	-	-	-	-	(258,467)	(258,467)	-	(258,467)
Net finance costs	-	-	-	-	(228,766)	(228,766)	-	(228,766)
Depreciation and amortizations	240,699	19,996	139,844	2,529	6,319	409,387	-	409,387
Sum of significant income accounts	212	227,776	269	-	-	228,257	-	228,257
Sum of significant expense accounts	-	15,193	12,565	-	-	27,758	-	27,758
Profit (loss) of each reportable segment	308,536	98,955	165,887	(2,559)	(353,242)	217,577	-	217,577
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates	-	-	-	-	16,348	16,348	-	16,348
Joint ventures	-	-	5,475	-	2,116	7,591	-	7,591
Income tax expense	-	-	-	-	(45,647)	(45,647)	-	(45,647)
Geographical information on revenues
Revenue – Chilean entities	1,521,453	52,161	1,275,937	885	-	2,850,436	-	2,850,436
Revenue – Foreign entities	624,626	44,327	1,218,813	23,183	-	1,910,949	-	1,910,949
Total Ordinary Income	2,146,079	96,488	2,494,750	24,068	-	4,761,385	-	4,761,385

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets	205,205	182,743	118,408	1,479	3,883	511,718	-	511,718
Acquisition and contribution of investments in associates and joint venture	-	-	153,135	-	-	153,135	-	153,135

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2016	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,077,300	5,492,364	2,515,092	30,970	932,059	14,047,785	(41,604)	14,006,181
Segments assets (excluding deferred tax assets)	5,077,300	5,492,364	2,515,092	30,970	925,962	14,041,688	(41,604)	14,000,084
Deferred tax assets	-	-	-	-	6,097	6,097	-	6,097
Investments accounted through equity method
Associates	-	160,490	-	-	105,285	265,775	-	265,775
Joint Ventures	-	-	161,703	-	19,070	180,773	-	180,773
Segment liabilities	277,474	161,091	311,667	11,836	6,244,830	7,006,898	-	7,006,898
Segment liabilities (excluding deferred tax liabilities)	277,474	161,091	311,667	11,836	4,613,765	5,375,833	-	5,375,833
Deferred tax liabilities	-	-	-	-	1,631,065	1,631,065	-	1,631,065
Geographical information on non-current assets
Chile	2,572,702	3,509,727	721,418	27	135,808	6,939,682	(3,575)	6,936,107
Foreign countries	1,740,559	1,525,190	1,016,633	23,040	42,292	4,347,714	-	4,347,714
Non-current assets, Total	4,313,261	5,034,917	1,738,051	23,067	178,100	11,287,396	(3,575)	11,283,821

	Pulp		Forestry		Wood products		Others		Corporate		Sub Total		Elimination		Total
Year ended December 31, 2015	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Revenues from external customers		2,363,973		116,368		2,633,211		33,188		-		5,146,740		-		5,146,740
Revenues from transactions with other reportable segments		43,414		491,703		10,673		32,543		-		578,333		(578,333)		-
Finance income		-		-		-		-		50,284		50,284		-		50,284
Finance costs		-		-		-		-		(262,962)		(262,962)		-		(262,962)
Net finance costs		-		-		-		-		(212,678)		(212,678)		-		(212,678)
Depreciation and amortizations		231,916		18,211		139,446		3,913		6,659		400,145		-		400,145
Sum of significant income accounts		31		220,907		4,823		-		-		225,761		-		225,761
Sum of significant expense accounts		585		35,610		3,383		35		-		39,613		-		39,613
Profit (loss) of each reportable segment		455,190		137,829		264,473		1,815		(491,596)		367,711		-		367,711
Share of profit (loss) of associates and joint ventures accounted for using equity method
Associates		-		-		-		-		5,572		5,572		-		5,572
Joint ventures		-		-		(470)		-		1,646		1,176		-		1,176
Income tax expense		-		-		-		-		(129,694)		(129,694)		-		(129,694)
Geographical information on revenues
Revenue – Chilean entities		1,680,804		68,986		1,323,886		597		-		3,074,273		-		3,074,273
Revenue – Foreign entities		683,169		47,382		1,309,325		32,591		-		2,072,467		-		2,072,467
Total Ordinary Income		2,363,973		116,368		2,633,211		33,188		-		5,146,740		-		5,146,740

	Pulp		Forestry		Wood products		Others		Corporate		Sub Total		Elimination		Total
Year ended December 31, 2015	ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$		ThU.S.$
Amounts of additions to non-current assets
Acquisition of property, plant and equipment and biological assets		199,094		155,872		94,191		1,754		7,001		457,912		-		457,912
Acquisition and contribution of investments in associates and joint venture		-		814		-		-		-		814		-		814

	Pulp	Forestry	Wood products	Others	Corporate	Sub Total	Elimination	Total
Year ended December 31, 2015	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Segment assets	5,172,095	5,471,322	2,374,134	31,679	669,703	13,718,933	(48,542)	13,670,391
Segments assets (excluding deferred tax assets)	5,172,095	5,471,322	2,374,134	31,679	665,968	13,715,198	(48,542)	13,666,656
Deferred tax assets	-	-	-	-	3,735	3,735	-	3,735
Investments accounted through equity method
Associates	-	121,359	-	-	119,781	241,140	-	241,140
Joint Ventures	-	-	3,573	-	20,099	23,672	-	23,672
Segment liabilities	318,880	147,432	269,963	11,526	6,276,145	7,023,946	-	7,023,946
Segment liabilities (excluding deferred tax liabilities)	318,880	147,432	269,963	11,526	4,657,133	5,404,934	-	5,404,934
Deferred tax liabilities	-	-	-	-	1,619,012	1,619,012	-	1,619,012
Geographical information on non-current assets
Chile	2,565,307	3,536,372	758,936	30	128,185	6,988,830	(2,955)	6,985,875
Foreign countries	1,782,286	1,313,685	735,924	23,406	142,803	3,998,104	-	3,998,104
Non-current assets, Total	4,347,593	4,850,057	1,494,860	23,436	270,988	10,986,934	(2,955)	10,983,979

Information required by geographic area:

	Geographical area
	Local  country	Foreign country
2017	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2017	3,103,568	494,479	395,416	801,092	443,786	5,238,341
Non-current Assets at 12-31-2017 other than deferred tax	6,624,381	956,511	1,274,536	575,231	1,785,312	11,215,971

	Geographical area
	Local  country	Foreign country
2016	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2016	2,850,436	414,084	350,352	801,821	344,692	4,761,385
Non-current Assets at 12-31-2016 other than deferred tax	6,931,755	960,596	1,186,538	397,924	1,800,911	11,277,724

	Geographical area
	Local  country	Foreign country
2015	Chile	Argentina	Brazil	USA/Canada	Uruguay	Total
Disclosure of geographical areas	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$	ThU.S.$
Revenues at 12-31-2015	3,074,273	546,409	358,562	809,293	358,203	5,146,740
Non-current Assets at 12-31-2015 other than deferred tax	6,986,236	978,285	837,886	364,889	1,812,948	10,980,244

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OTHER NON-FINANCIAL ASSETS AND NON-FINANCIAL LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Detailed Information About Other Non Financial Assets And Non Financial Liabilities [Abstract]

Disclosure Of Detailed Information About Other Non Financial Assets And Non Financial Liabilities [Text Block]

	12-31-2017		12-31-2016
Current non-financial assets	ThU.S.$		ThU.S.$
Roads to amortize current		43,301		41,812
Prepayment to amortize (insurance + others)		21,257		23,086
Recoverable taxes (Relating to purchases)		60,823		71,357
Other current non-financial assets		4,456		8,660
Total		129,837		144,915

	12-31-2017		12-31-2016
Non-current non-financial assets	ThU.S.$		ThU.S.$
Roads to amortize, non-current		112,937		121,894
Guarantee values		2,893		3,302
Recoverable taxes		1,835		1,493
Other non-current non-financial assets		3,856		3,630
Total		121,521		130,319

	12-31-2017		12-31-2016
Current non-financial liabilities	ThU.S.$		ThU.S.$
Provision of minimum dividend (1)		116,123		60,312
ICMS tax payable		12,593		14,856
Other tax payable		23,040		16,202
Other Current non-financial liablities		2,194		7,793
Total		153,950		99,163
(1) Provision includes a minimum dividend of subsidiary minority.

	12-31-2017		12-31-2016
Non-current non-financial liabilities	ThU.S.$		ThU.S.$
ICMS tax payable		110,532		58,606
Other non-current non-financial liablities		1,808		2,027
Total		112,340		60,633

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DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure Of Detailed Information About Basic And Diluted NetIncomeloss Per Share [Abstract]

Disclosure Of Detailed Information About Adjustments On Profit Loss Attributable To Owners Of Parent [Text Block]

The following table details the adjustments made for the determination of distributable net profit as December 31, 2017, 2016 and 2015 in order to determine the provision of 40% of the distributable net profit for each year:

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2017		269,724
Adjustments:
Biological Assets
Unrealized gains/losses		(82,782)
Realized gains/losses		303,668
Deferred income taxes		(54,944)
Total adjustments		165,942
Distributable Net Profit at 12-31-2017		435,666

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2016		213,801
Adjustments:
Biological Assets
Unrealized gains/losses		(204,671)
Realized gains/losses		210,223
Deferred income taxes		2,089
Total adjustments		7,641
Distributable Net Profit at 12-31-2016		221,442

	Distributable Net Profit ThU.S.$
Net profit attributable to owners of parent at 12-31-2015		362,689
Adjustments:
Biological Assets
Unrealized gains/losses		(205,527)
Realized gains/losses		203,730
Deferred income taxes		(3,889)
Total adjustments		(5,686)
Distributable Net Profit at 12-31-2015		357,003

Disclosure Of Detailed Information About Basic And Diluted NetIncomeloss Per Share [Text Block]

Basic and diluted earnings per share are calculated by dividing the profit or loss attributable to ordinary equity holders of parent by the weighted average number of ordinary shares outstanding. Arauco does not have any shares with potential dilutive effect.

	January-December
	2017		2016		2015
	ThU.S.$		ThU.S.$		ThU.S.$
Profit or loss attributable to ordinary equity holder of parent		269,724		213,801		362,689
Weighted average of number of shares		113,159,655		113,159,655		113,159,655
Basic and diluted earnings per share (in U.S.$ per share)		2,3836		1,8894		3,2051

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PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS (Details Textual)	12 Months Ended
	Dec. 31, 2017
Empresas Copec S.A [Member]
Percentage of ownership interests held by parent	99.978%
AntarChile S.A [Member] | Inversiones Angelini y Cia. Ltda [Member]
Percentage of ownership interests held	63.4015%
AntarChile S.A [Member] | Mr. Roberto Angelini Rossi [Member]
Percentage of ownership interests held	5.77307%
AntarChile S.A [Member] | Mrs. Patricia Angelini Rossi [Member]
Percentage of ownership interests held	4.32981%

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DISCLOSURE OF OTHER INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Amount of Capital in Shares by Type of Ordinary Shares that Constitute Capital	$ 353,618	$ 353,618
Ordinary shares [member]
Description of Ordinary Capital Share Types	100% of Capital corresponds to ordinary shares	100% of Capital corresponds to ordinary shares
Number of Authorized Shares by Type of Capital in Ordinary Shares	113,159,655	113,159,655
Nominal Value of Shares by Type of Capital in Ordinary Shares	$ 3.121	$ 3.121
Amount of Capital in Shares by Type of Ordinary Shares that Constitute Capital	$ 353,618	$ 353,618
Number of Shares Issued and Fully Paid by Type of Capital in Ordinary Shares	113,159,655	113,159,655

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DISCLOSURE OF OTHER INFORMATION (Details 1) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Amount of Dividend	$ 60,494
Interim dividend [Member]
Dividend Paid	Interim Dividend	Interim Dividend	Interim Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares	Ordinary Shares	Ordinary Shares
Date of Dividend Paid	Dec. 20, 2017	Dec. 14, 2016	Dec. 16, 2015
Amount of Dividend	$ 60,494	$ 29,572	$ 43,580
Number of Shares for which Dividends are Paid	113,159,655	113,159,655	113,159,655
Dividend per Share	$ 0.53459	$ 0.26133	$ 0.38512
Final dividend [Member]
Dividend Paid	Final Dividend	Final Dividend	Final Dividend
Type of Shares for which there is a Dividend Paid	Ordinary Shares	Ordinary Shares	Ordinary Shares
Date of Dividend Paid	May 10, 2017	May 11, 2016	May 12, 2015
Amount of Dividend	$ 59,005	$ 99,221	$ 98,072
Number of Shares for which Dividends are Paid	113,159,655	113,159,655	113,159,655
Dividend per Share	$ 0.52143	$ 0.87683	$ 0.86667

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DISCLOSURE OF OTHER INFORMATION (Details 2) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Income, Total		$ 111,513	$ 257,863	$ 273,026
Gain from changes in fair value of biological assets (See note 20)		83,031	208,562	210,479
Net income from insurance compensation		1,305	3,222	1,522
Revenue from export promotion		3,542	2,350	2,692
Lease income		3,061	4,687	2,654
Gain on sales of assets		13,444	17,485	11,849
Gain on business combination achieved in stages		0	0	8,744
Access easement		565	3,756	8,160
Recovery of tax credits		0	2,033	8,081
Other operating results	[1]	6,565	15,768	18,845
Total of Other Expenses by activity		(240,165)	(77,415)	(83,388)
Depreciation		(1,880)	(562)	(1,407)
Legal expenses		(3,882)	(5,087)	(5,082)
Impairment provision for property, plant and equipment and others		(33,240)	(14,979)	(12,321)
Operating expenses related to plants stoppage		(5,861)	(3,926)	(3,917)
Expenses related to projects		(2,139)	(1,620)	(532)
Loss of asset sales		(4,691)	(2,283)	(2,475)
Loss and repair of assets		(3,739)	(1,307)	(316)
Loss of forest due to fires	[2]	(138,139)	(15,193)	(34,850)
Other Taxes		(17,463)	(8,261)	(8,981)
Research and development expenses		(2,594)	(2,684)	(2,604)
Fines, readjustments and interests		(3,675)	(1,004)	(1,139)
Loss on disposal of associates		0	(10,369)	0
Others rentals no operational		(1,877)	0	0
Other expenses		(20,985)	(10,140)	(9,764)
Financing income, total		19,640	29,701	50,284
Financial income from mutual funds - term deposits		11,023	11,439	15,128
Financial income resulting from swap - forward instruments		3,602	7,226	4,439
Financial income resulting from loans with related companies		0	0	17,629
Other financial income		5,015	11,036	13,088
Financing costs, Total		(287,958)	(258,467)	(262,962)
Interest expense, Banks loans		(31,014)	(33,224)	(40,690)
Interest expense, Bonds		(223,602)	(183,203)	(189,526)
Interest expense, other financial instruments		(15,706)	(17,221)	(7,260)
Other financial costs		(17,636)	(24,819)	(25,486)
Total		17,017	23,939	6,748
Investments in associates		4,855	16,348	5,573
Joint ventures		$ 12,162	$ 7,591	$ 1,175

[1] Other operating results” includes income from interests, extraction of sand and gravel from wharfage and indemnities, among others.

[2] Loss of forest due to fires are presented net of ThU.S.$35,000 from insurance compensation as of December 2017.

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DISCLOSURE OF OTHER INFORMATION (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Maintenance costs	$ 3,739	$ 1,307	$ 316
Total	3,574,532	3,498,905	3,511,425
Total	523,300	496,473	528,470
Wages and salaries	542,981	506,993	519,066
Depreciation and amortization	421,551	409,387	400,145
Lease rentals (offices, other property and vehicles)	1,877	0	0
Fees (legal and technical advisors)	3,882	5,087	5,082
Maintenance and repair	3,739	1,307	316
Total	521,294	474,469	551,977
Cost Of Sales [Member]
Timber	725,114	736,399	641,821
Forestry labor costs	631,276	600,320	636,100
Maintenance costs	262,764	313,500	305,701
Chemical costs	517,478	479,335	539,856
Sawmill Services	109,776	117,340	128,801
Other Raw Materials	188,874	221,950	226,342
Other Indirect costs	178,447	143,074	138,900
Energy and fuel	186,041	139,527	172,077
Cost of electricity	42,008	39,960	41,674
Total	3,574,532	3,498,905	3,511,425
Wages and salaries	342,907	329,517	308,302
Depreciation and amortization	389,847	377,983	371,851
Maintenance and repair	262,764	313,500	305,701
Distribution cost [Member]
Selling costs	39,175	33,557	48,160
Commissions	14,880	13,880	15,801
Provision for doubtful accounts	(245)	910	3,137
Other selling costs	20,920	15,551	24,621
Shipping and freight costs	484,125	462,916	480,310
Port services	30,996	28,028	26,216
Freights	384,523	357,442	387,081
Other shipping and freight costs	68,606	77,446	67,013
Total	523,300	496,473	528,470
Insurance	3,620	3,216	4,601
Administrative expenses [Member]
Maintenance costs	5,579	7,617	8,361
Wages and salaries	218,720	198,042	227,407
Marketing, advertising, promotion and publications expenses	10,046	9,937	10,422
Insurance	17,122	21,526	28,216
Depreciation and amortization	28,210	29,285	24,587
Computer services	27,193	27,735	31,897
Lease rentals (offices, other property and vehicles)	14,195	13,391	13,527
Donations, contributions, scholarships	12,772	10,396	11,172
Fees (legal and technical advisors)	43,107	43,809	49,556
Property taxes, city permits and rights	17,281	15,962	19,196
Cleaning services, security services and transportation	25,153	26,975	25,638
Third-party variable services (maneuvers, logistics)	46,097	40,277	56,093
Basic services	8,423	8,653	9,395
Maintenance and repair	5,579	7,617	8,361
Seminars, courses, training materials	2,526	3,560	5,156
Other administration expenses	44,870	17,304	31,354
Total	$ 521,294	$ 474,469	$ 551,977

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DISCLOSURE OF OTHER INFORMATION (Details Textuals) - USD ($)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Issued capital		$ 353,618,000	$ 353,618,000
Dividend payables		174,266,000	88,578,000
Dividends paid, classified as financing activities		121,586,000	130,624,000	$ 143,003,000
Dividends recognised as distributions to owners of parent		119,499,000	128,793,000
Insurance compensation	[1]	$ 35,000
Interim dividend [Member]
Percentage of dividend distribution		20.00%
Final dividend [Member]
Explanation of the information about the basis for dividend paid		The final dividend paid each year corresponds to the difference between the 40% of the prior year distributable net profit and the amount of the interim dividend paid.
Ordinary shares [member]
Issued capital		$ 353,618,000	$ 353,618,000
Proportion of ordinary shares in entity share capital		100.00%

[1] Loss of forest due to fires are presented net of ThU.S.$35,000 from insurance compensation as of December 2017.

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INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Raw materials	$ 103,049	$ 61,252
Production supplies	98,548	102,760
Work in progress	56,194	59,332
Finished goods	441,726	468,544
Spare Parts	168,945	160,724
Total Inventories	$ 868,462	$ 852,612

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INVENTORIES (Details Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost of inventories recognised as expense during period	$ 3,511,871	$ 3,423,439	$ 3,416,235
Decrease (increase) in inventories of finished goods and work in progress	1,264	8,397	6,909
Provision for inventory obsolescence	28,684	27,420
Inventory write-down	$ 1,427	$ 1,332	$ 4,215

XML

CASH AND CASH EQUIVALENTS (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Cash And Cash Equivalents [Line Items]
Cash on hand		$ 148	$ 3,156
Bank checking account balances		209,037	146,290
Time deposits		292,105	247,391
Mutual funds		73,170	195,416
Other cash and cash equivalents	[1]	15,426	0
Total		$ 589,886	$ 592,253	$ 500,025	$ 971,152

[1] Applies to purchase contracts resale commitments.

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CASH AND CASH EQUIVALENTS (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	$ 73,170	$ 195,416
Mutual funds investment [Member] | AAAfm [Member]
Disclosure Of Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	70,808	192,895
Mutual funds investment [Member] | AAfm [Member]
Disclosure Of Cash And Cash Equivalents [Line Items]
Short-term investments, classified as cash equivalents	$ 2,362	$ 2,521

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CASH AND CASH EQUIVALENTS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Opening balance	$ 4,454,380	$ 4,405,444
Cash Flow Borrowings Obtained	1,312,481	737,653	$ 280,863
Cash Flow Borrowings Paid	1,627,711	645,211	949,183
Cash Flow Interest paid	(261,186)	(191,573)
Accrued Interest	246,220	192,488
Inflation adjustment	121,885	79,932
Non-cash Movements	(79,534)	(124,353)
Closing balance	4,166,535	4,454,380	4,405,444
Borrowings from banks [Member]
Opening balance	914,358	997,542
Cash Flow Borrowings Obtained	421,309	550,226
Cash Flow Borrowings Paid	(481,205)	(645,211)
Cash Flow Interest paid	(28,141)	(27,692)
Accrued Interest	27,894	27,471
Inflation adjustment	(439)	9
Non-cash Movements	4,681	12,013
Closing balance	858,457	914,358	997,542
Bonds and promissory notes [Member]
Opening balance	3,452,658	3,180,334
Cash Flow Borrowings Obtained	891,172	187,427
Cash Flow Borrowings Paid	(1,146,506)	0
Cash Flow Interest paid	(233,045)	(163,881)
Accrued Interest	218,326	165,017
Inflation adjustment	122,324	79,923
Non-cash Movements	(2,244)	3,838
Closing balance	3,302,685	3,452,658	3,180,334
Hedging liabilities [Member]
Opening balance	87,364	227,568
Cash Flow Borrowings Obtained	0	0
Cash Flow Borrowings Paid	0	0
Cash Flow Interest paid	0	0
Accrued Interest	0	0
Inflation adjustment	0	0
Non-cash Movements	(81,971)	(140,204)
Closing balance	$ 5,393	$ 87,364	$ 227,568

XML

INCOME TAXES AND DEFERRED TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Deferred tax assets	$ 186,884	$ 157,866
Offsetting presentation	(178,618)	(151,769)
Net Effect	8,266	6,097	$ 3,735
Provisions [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	7,433	5,771
Accrued Liabilities [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	11,267	11,716
Post Employment Benefits [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	19,276	17,618
Property, Plant and Equipment [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	11,657	9,806
Financial instruments [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	4,348	12,699
Tax Loss Carryforward [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	62,706	50,917
Inventories [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	5,941	7,158
Provisions for income [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	21,354	7,069
Other Deductible Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	27,364	22,985
Allowance for Doubtful Accounts [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	5,149	4,886
Intangible revaluation difference [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	$ 10,389	$ 10

XML

INCOME TAXES AND DEFERRED TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Deferred Tax Liabilities, Net	$ 1,663,983	$ 1,782,834
Offsetting presentation	(178,618)	(151,769)
Net Effect	1,485,365	1,631,065	$ 1,619,012
Financial instruments [Member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	12,684	7,186
Biological assets [member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	676,876	719,577
Prepaid Expenses [Member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	41,600	42,881
Intangible revaluation difference [Member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	22,014	27,222
Other temporary differences [member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	17,731	20,004
Inventories [Member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	32,580	31,072
Property, Plant and Equipment [Member]
Income Tax [Line Items]
Deferred Tax Liabilities, Net	$ 860,498	$ 934,892

XML

INCOME TAXES AND DEFERRED TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	$ 157,866
Opening Balance - Liabilities	1,782,834
Closing balance - Assets	186,884	$ 157,866
Closing balance - Liabilities	1,663,983	1,782,834
Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	1,782,834	1,755,528
Deferred tax Expenses (Income)	(168,278)	3,868
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	52,199
Increase (decrease) Net exchange differences	(2,772)	23,438
Closing balance - Liabilities	1,663,983	1,782,834	$ 1,755,528
Provisions [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	5,771
Closing balance - Assets	7,433	5,771
Post Employment Benefits [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	17,618
Closing balance - Assets	19,276	17,618
Accrued Liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	11,716
Closing balance - Assets	11,267	11,716
Property, Plant and Equipment [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	9,806
Opening Balance - Liabilities	934,892
Closing balance - Assets	11,657	9,806
Closing balance - Liabilities	860,498	934,892
Property, Plant and Equipment [Member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	934,892	930,608
Deferred tax Expenses (Income)	(82,445)	(1,065)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	9,735
Increase (decrease) Net exchange differences	(1,684)	5,349
Closing balance - Liabilities	860,498	934,892	930,608
Financial Instruments [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	12,699
Opening Balance - Liabilities	7,186
Closing balance - Assets	4,348	12,699
Closing balance - Liabilities	12,684	7,186
Financial Instruments [Member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	7,186	6,376
Deferred tax Expenses (Income)	5,497	810
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	1	0
Closing balance - Liabilities	12,684	7,186	6,376
Tax Loss Carryforward [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	50,917
Closing balance - Assets	62,706	50,917
Inventory [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	7,158
Opening Balance - Liabilities	31,072
Closing balance - Assets	5,941	7,158
Closing balance - Liabilities	32,580	31,072
Inventory [Member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	31,072	31,912
Deferred tax Expenses (Income)	1,508	(840)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	0	0
Closing balance - Liabilities	32,580	31,072	31,912
Provisions for Income [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	7,069
Closing balance - Assets	21,354	7,069
Allowance for Doubtful Accounts [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	4,886
Closing balance - Assets	5,149	4,886
Intangible revaluation differences [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	10
Opening Balance - Liabilities	27,222
Closing balance - Assets	10,389	10
Closing balance - Liabilities	22,014	27,222
Intangible revaluation differences [member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	27,222	26,419
Deferred tax Expenses (Income)	(4,880)	(528)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	(328)	1,331
Closing balance - Liabilities	22,014	27,222	26,419
Other Deductible/Taxable Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	22,985
Opening Balance - Liabilities	20,004
Closing balance - Assets	27,364	22,985
Closing balance - Liabilities	17,731	20,004
Other Deductible/Taxable Temporary Differences [member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	20,004	26,203
Deferred tax Expenses (Income)	(6,730)	(9,229)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	4,467
Increase (decrease) Net exchange differences	(10)	3,030
Closing balance - Liabilities	17,731	20,004	26,203
Biological Assets [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	719,577
Closing balance - Liabilities	676,876	719,577
Biological Assets [Member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	719,577	693,103
Deferred tax Expenses (Income)	(79,947)	12,642
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	37,246
Increase (decrease) Net exchange differences	(751)	13,832
Closing balance - Liabilities	676,876	719,577	693,103
Prepaid Expenses [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	42,881
Closing balance - Liabilities	41,600	42,881
Prepaid Expenses [Member] | Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Liabilities	42,881	40,907
Deferred tax Expenses (Income)	(1,281)	2,078
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	0	(104)
Closing balance - Liabilities	41,600	42,881	40,907
Deferred Tax Assets [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	157,866	140,251
Deferred tax Expenses (Income)		20,591
Deferred tax of items charged to other comprehensive income		(9,097)
Increase (decrease) through Business Combination
Increase (decrease) Net exchange differences		6,121
Closing balance - Assets		157,866	140,251
Deferred Tax Assets [Member] | Provisions [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	5,771	13,498
Deferred tax Expenses (Income)	931	(8,019)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	726
Increase (decrease) Net exchange differences	5	292
Closing balance - Assets	7,433	5,771	13,498
Deferred Tax Assets [Member] | Post Employment Benefits [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	17,618	15,480
Deferred tax Expenses (Income)	2,286	579
Deferred tax of items charged to other comprehensive income	(673)	1,509
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	45	50
Closing balance - Assets	19,276	17,618	15,480
Deferred Tax Assets [Member] | Accrued Liabilities [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	11,716	8,535
Deferred tax Expenses (Income)	(405)	3,181
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	(44)	0
Closing balance - Assets	11,267	11,716	8,535
Deferred Tax Assets [Member] | Property, Plant and Equipment [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	9,806	7,730
Deferred tax Expenses (Income)	1,850	2,076
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	1	0
Closing balance - Assets	11,657	9,806	7,730
Deferred Tax Assets [Member] | Financial Instruments [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	12,699	21,805
Deferred tax Expenses (Income)	1,414	1,500
Deferred tax of items charged to other comprehensive income	(9,764)	(10,606)
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	(1)	0
Closing balance - Assets	4,348	12,699	21,805
Deferred Tax Assets [Member] | Tax Loss Carryforward [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	50,917	35,751
Deferred tax Expenses (Income)	7,271	11,498	(959)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	6,093
Increase (decrease) Net exchange differences	(1,575)	3,668
Closing balance - Assets	62,706	50,917	35,751
Deferred Tax Assets [Member] | Inventory [Member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	7,158	4,240
Deferred tax Expenses (Income)	(1,435)	2,918
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	221
Increase (decrease) Net exchange differences	(3)	0
Closing balance - Assets	5,941	7,158	4,240
Deferred Tax Assets [Member] | Provisions for Income [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	7,069	3,997
Deferred tax Expenses (Income)	(3,697)	3,050
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	0
Increase (decrease) Net exchange differences	0	22
Closing balance - Assets	3,372	7,069	3,997
Deferred Tax Assets [Member] | Allowance for Doubtful Accounts [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	4,886	4,572
Deferred tax Expenses (Income)	(854)	261
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	1,133
Increase (decrease) Net exchange differences	(16)	53
Closing balance - Assets	5,149	4,886	4,572
Deferred Tax Assets [Member] | Intangible revaluation differences [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	10	56
Deferred tax Expenses (Income)	(954)	(46)
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	11,333
Increase (decrease) Net exchange differences	0	0
Closing balance - Assets	10,389	10	56
Deferred Tax Assets [Member] | Other Deductible/Taxable Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Opening Balance - Assets	30,216	24,587
Deferred tax Expenses (Income)	6,943	3,593
Deferred tax of items charged to other comprehensive income	0	0
Increase (decrease) through Business Combination	9,134
Increase (decrease) Net exchange differences	(948)	2,036
Closing balance - Assets	$ 45,345	$ 30,216	$ 24,587

XML

INCOME TAXES AND DEFERRED TAXES (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Deferred tax assets	$ 186,884	$ 157,866
Deferred Tax Liabilities, Net	1,663,983	1,782,834
Deferred tax expense (income)	181,628	16,723	$ (42,524)
Unused tax losses [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	62,706	50,917
Deferred tax liabilities [Member]
Disclosure Of Income Tax [Line Items]
Deferred Tax Liabilities, Net	1,663,983	1,782,834	1,755,528
Deferred tax expense (income) recognised in profit or loss	(168,278)	3,868
Deferred tax liabilities [Member] | Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Deferred tax expense (income) recognised in profit or loss	168,279	(3,868)	(26,259)
Deferred Tax Assets [Member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets		157,866	140,251
Deferred tax expense (income) recognised in profit or loss		20,591
Deferred Tax Assets [Member] | Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Deferred tax expense (income) recognised in profit or loss	6,079	9,093	(15,306)
Deferred Tax Assets [Member] | Unused tax losses [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	62,706	50,917	35,751
Deferred tax expense (income) recognised in profit or loss	7,271	11,498	$ (959)
Deductible Difference [Member] | Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	124,178	106,949
Deductible Difference [Member] | Unused tax losses [member]
Disclosure Of Income Tax [Line Items]
Deferred tax assets	62,706	50,917
Taxable Difference [Member] | Temporary Differences [member]
Disclosure Of Income Tax [Line Items]
Deferred Tax Liabilities, Net	$ 1,663,983	$ 1,782,834

XML

INCOME TAXES AND DEFERRED TAXES (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Current income tax expense	$ (155,292)	$ (58,831)	$ (87,908)
Tax benefit arising from unrecognized tax assets previously used to reduce current tax expense	3,018	0	0
Prior period current income tax adjustments	(227)	(6,899)	4,033
Other current benefit tax (expenses)	1,865	3,360	(3,295)
Current Tax Expense, Net	(150,636)	(62,370)	(87,170)
Deferred tax expense relating to origination and reversal of temporary differences	174,358	5,225	(41,565)
Tax benefit arising from previously unrecognized tax loss carryforward	7,270	11,498	(959)
Total deferred Tax benefit (expense), Net	181,628	16,723	(42,524)
Income Tax benefit (expense), Total	$ (30,992)	$ 45,647	$ 129,694

XML

INCOME TAXES AND DEFERRED TAXES (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Total current income tax expense	$ (150,636)	$ (62,370)	$ (87,170)
Total deferred tax benefit (expense)	181,628	16,723	(42,524)
Total tax benefit (expense)	(30,992)	45,647	129,694
Foreign countries [member]
Disclosure Of Income Tax [Line Items]
Total current income tax expense	(28,071)	(27,931)	(33,129)
Total deferred tax benefit (expense)	94,228	7,794	(17,240)
Country of domicile [member]
Disclosure Of Income Tax [Line Items]
Total current income tax expense	(122,565)	(34,439)	(54,041)
Total deferred tax benefit (expense)	$ 87,400	$ 8,929	$ (25,284)

XML

INCOME TAXES AND DEFERRED TAXES (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Income Tax [Line Items]
Statutory domestic (Chile) income tax rate	25.50%	24.00%	22.50%
Tax Expense at statutory tax rate	$ (61,037)	$ (63,174)	$ (111,916)
Tax effect of foreign tax rates	(7,118)	(13,368)	(16,099)
Tax effect of revenues exempt from taxation	40,133	33,834	41,268
Tax effect of not deductible expenses	(28,783)	(10,987)	(40,866)
Tax rate effect of tax loss carry forwards	(44)	0	14
Tax effect of Previously Unrecognized Tax Benefit in the Statements of Profit or Loss	195	0	(857)
Tax effect of a new evaluation of assets for deferred not recognized taxes	5,311	17,157	307
Tax rate effect from change in tax rate (opening balances)	78,946	(3,681)	(3,445)
Tax rate effect of adjustments for current tax of prior periods	(227)	(6,899)	4,033
Other tax rate effects	3,616	1,471	(2,128)
Total adjustments to tax expense at applicable tax rate	92,029	17,527	(17,778)
Tax benefit (expense) at effective tax rate	$ (30,992)	$ 45,647	$ 129,694

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INCOME TAXES AND DEFERRED TAXES (Details Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Income Tax [Line Items]
Applicable tax rate				25.50%	24.00%	22.50%
Unused tax losses for which no deferred tax asset recognised				$ 216,397	$ 178,064
Income tax relating to components of other comprehensive income that will be reclassified to profit or loss				$ (1,591,000)	$ (17,355,000)	$ 1,889,000
Chile [Member]
Disclosure Of Income Tax [Line Items]
Applicable tax rate				25.50%	24.00%	225.00%	21.00%
Argentina [Member]
Disclosure Of Income Tax [Line Items]
Applicable tax rate	25.00%	30.00%	30.00%	35.00%
Deferred tax expense (income) relating to tax rate changes or imposition of new taxes				$ 62,677
Brazil [Member]
Disclosure Of Income Tax [Line Items]
Applicable tax rate				34.00%
Uruguay [Member]
Disclosure Of Income Tax [Line Items]
Applicable tax rate				25.00%
Unused tax losses for which no deferred tax asset recognised				$ 167,862	$ 176,280
United states [Member]
Disclosure Of Income Tax [Line Items]
Applicable tax rate			21.00%	35.00%
Deferred tax expense (income) relating to tax rate changes or imposition of new taxes				$ 17,600

XML

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, plant and equipment	$ 7,034,299	$ 6,919,495	$ 6,896,396
Property, Plant and Equipment, Gross [member]
Property, plant and equipment	1,008,310	991,450
Accumulated depreciation and impairment [member]
Property, plant and equipment	(5,240,709)	(4,659,145)
Construction work in Progress [member]
Property, plant and equipment	597,351	321,031	251,519
Construction work in Progress [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	597,351	321,031
Buildings [member]
Property, plant and equipment	2,135,201	2,169,731	2,182,643
Buildings [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	3,926,157	3,825,259
Buildings [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	(1,790,956)	(1,655,528)
Plant and equipment [member]
Property, plant and equipment	3,112,755	3,256,348	3,346,675
Plant and equipment [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	6,410,561	6,128,494
Plant and equipment [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	(3,297,806)	(2,872,146)
Information technology equipment [member]
Property, plant and equipment	22,665	24,154	26,210
Information technology equipment [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	82,765	76,421
Information technology equipment [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	(60,100)	(52,267)
Fixtures and fittings [member]
Property, plant and equipment	12,297	9,880	11,860
Fixtures and fittings [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	40,388	33,613
Fixtures and fittings [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	(28,091)	(23,733)
Motor vehicles [member]
Property, plant and equipment	15,959	16,858	16,721
Motor vehicles [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	49,756	48,534
Motor vehicles [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	(33,797)	(31,676)
Other property, plant and equipment [member]
Property, plant and equipment	129,761	130,043	$ 109,130
Other property, plant and equipment [member] | Property, Plant and Equipment, Gross [member]
Property, plant and equipment	159,720	153,838
Other property, plant and equipment [member] | Accumulated depreciation and impairment [member]
Property, plant and equipment	$ (29,959)	$ (23,795)

XML

PROPERTY, PLANT AND EQUIPMENT (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amount committed for the acquisition of property, plant and equipment	$ 112,924	$ 122,757

XML

PROPERTY, PLANT AND EQUIPMENT (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Opening Balance	$ 6,919,495	$ 6,896,396
Changes
Additions	533,833	419,194
Acquisitions through business combinations	74,511
Disposals	(8,024)	(5,887)
Retirements	(16,740)	(8,057)
Depreciation	(454,826)	(469,153)
Impairment loss recognized in profit or loss	33,240	14,979	$ 12,321
Increase (decrease) through net exchange differences	(3,715)	89,467
Reclassification of assets held for sale	(334)	341
Increase (decrease) through transfers from construction in progress	0	0
Total changes	114,804	23,099
Closing balance	7,034,299	6,919,495	6,896,396
Construction work in Progress [member]
Opening Balance	321,031	251,519
Changes
Additions	440,394	317,159
Acquisitions through business combinations	3,460
Disposals	0	(44)
Retirements	(1,585)	(1,754)
Depreciation	0	0
Impairment loss recognized in profit or loss	(208)	0
Increase (decrease) through net exchange differences	290	6,610
Reclassification of assets held for sale	(418)	0
Increase (decrease) through transfers from construction in progress	(165,613)	(252,459)
Total changes	276,320	69,512
Closing balance	597,351	321,031	251,519
Land [Member]
Opening Balance	991,450	951,638
Changes
Additions	277	6,350
Acquisitions through business combinations	4,009
Disposals	(1,878)	(1,107)
Retirements	(75)	(295)
Depreciation	0	0
Impairment loss recognized in profit or loss	0	0
Increase (decrease) through net exchange differences	(2,728)	30,514
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	17,255	4,350
Total changes	16,860	39,812
Closing balance	1,008,310	991,450	951,638
Buildings [member]
Opening Balance	2,169,731	2,182,643
Changes
Additions	12,932	7,966
Acquisitions through business combinations	17,214
Disposals	(48)	(443)
Retirements	(3,809)	(926)
Depreciation	(125,692)	(122,257)
Impairment loss recognized in profit or loss	(769)	9
Increase (decrease) through net exchange differences	961	(2,388)
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	64,681	105,127
Total changes	(34,530)	(12,912)
Closing balance	2,135,201	2,169,731	2,182,643
Plant and equipment [Member]
Opening Balance	3,256,348	3,346,675
Changes
Additions	65,938	59,997
Acquisitions through business combinations	46,415
Disposals	(5,492)	(2,382)
Retirements	(3,900)	(2,209)
Depreciation	(311,819)	(330,876)
Impairment loss recognized in profit or loss	(8,271)	(1,254)
Increase (decrease) through net exchange differences	(2,394)	51,224
Reclassification of assets held for sale	84	341
Increase (decrease) through transfers from construction in progress	75,846	134,832
Total changes	(143,593)	(90,327)
Closing balance	3,112,755	3,256,348	3,346,675
IT Equipment [member]
Opening Balance	24,154	26,210
Changes
Additions	787	554
Acquisitions through business combinations	164
Disposals	(26)	(105)
Retirements	(4)	(24)
Depreciation	(6,080)	(5,352)
Impairment loss recognized in profit or loss	(5)	(7)
Increase (decrease) through net exchange differences	51	134
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	3,624	2,744
Total changes	(1,489)	(2,056)
Closing balance	22,665	24,154	26,210
Fixtures and fittings [member]
Opening Balance	9,880	11,860
Changes
Additions	556	269
Acquisitions through business combinations	986
Disposals	(26)	0
Retirements	(29)	(8)
Depreciation	(2,268)	(1,970)
Impairment loss recognized in profit or loss	(310)	(1)
Increase (decrease) through net exchange differences	(31)	116
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	3,539	(386)
Total changes	2,417	(1,980)
Closing balance	12,297	9,880	11,860
Motor vehicles [member]
Opening Balance	16,858	16,721
Changes
Additions	2,161	1,281
Acquisitions through business combinations	241
Disposals	(292)	(199)
Retirements	(127)	(30)
Depreciation	(3,546)	(3,969)
Impairment loss recognized in profit or loss	0	0
Increase (decrease) through net exchange differences	67	112
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	597	2,942
Total changes	(899)	137
Closing balance	15,959	16,858	16,721
Other property, plant and equipment [member]
Opening Balance	130,043	109,130
Changes
Additions	10,788	25,618
Acquisitions through business combinations	2,022
Disposals	(262)	(1,607)
Retirements	(7,211)	(2,811)
Depreciation	(5,421)	(4,729)
Impairment loss recognized in profit or loss	(338)	(1,553)
Increase (decrease) through net exchange differences	69	3,145
Reclassification of assets held for sale	0	0
Increase (decrease) through transfers from construction in progress	71	2,850
Total changes	(282)	20,913
Closing balance	$ 129,761	$ 130,043	$ 109,130

XML

PROPERTY, PLANT AND EQUIPMENT (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Depreciation expense	$ 1,880	$ 562	$ 1,407
Cost of sales [member]
Depreciation expense	381,725	371,170	365,401
Administrative expenses [member]
Depreciation expense	23,005	21,546	19,084
Other expenses [member]
Depreciation expense	3,494	2,119	3,707
Total [member]
Depreciation expense	$ 408,224	$ 394,835	$ 388,192

XML

PROPERTY, PLANT AND EQUIPMENT (Details 4)	12 Months Ended
	Dec. 31, 2017
Buildings [member]
Useful lives or depreciation rates, property, plant and equipment	58
Plant and equipment [member]
Useful lives or depreciation rates, property, plant and equipment	30
Information technology equipment [member]
Useful lives or depreciation rates, property, plant and equipment	8
Fixtures and fittings [member]
Useful lives or depreciation rates, property, plant and equipment	28
Motor vehicles [member]
Useful lives or depreciation rates, property, plant and equipment	7
Other property, plant and equipment [member]
Useful lives or depreciation rates, property, plant and equipment	14

XML

LEASES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Recognised finance lease as assets	$ 116,534	$ 117,206
Property, Plant and Equipment under finance leases [member]
Recognised finance lease as assets	$ 116,534	$ 117,206

XML

LEASES (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Minimum finance lease payments payable, at present value	$ 112,376	$ 113,986
Less than one year [member]
Minimum finance lease payments payable, at present value	44,341	40,400
Between one and five years [member]
Minimum finance lease payments payable, at present value	$ 68,035	$ 73,586

XML

LEASES (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Gross	$ 13,175	$ 865
Interest	69	0
Present Value	13,106	865
Less than one year [member]
Gross	12,001	512
Interest	69	0
Present Value	11,932	512
Between one and five years [member]
Gross	1,174	353
Interest	0	0
Present Value	1,174	353
More than five years [member]
Gross	0	0
Interest	0	0
Present Value	$ 0	$ 0

XML

REVENUE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue from sales of goods	$ 5,133,339	$ 4,649,581	$ 5,018,138
Revenue from rendering of services	105,002	111,804	128,602
Total	$ 5,238,341	$ 4,761,385	$ 5,146,740

XML

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employee expenses	$ 563,117	$ 532,957	$ 537,629
Wages and salaries	542,981	506,993	519,066
Severance indemnities	$ 20,136	$ 25,964	$ 18,563

XML

EMPLOYEE BENEFITS (Details 1)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Discount rate		5.11%	4.52%	4.91%
Inflation		2.77%	2.79%	2.95%
Annual rate of wage growth		5.22%	5.22%	5.22%
Mortality rate	[1]	RV-2014	RV-2009	RV-2009

[1] For the purposes of determining the technical reserves, Chilean annuity providers are required by law to utilize the mortality tables specified by the SVS (currently Chilean Commission for the Financial Market). The most recent table is the RV-2014, which is based on Chilean pensioner experience from 2006-2013 (SP & SVS, 2013). The mortality tables distinguish between males and females.

XML

EMPLOYEE BENEFITS (Details 2) $ in Thousands	Dec. 31, 2017 USD ($)
Wage growth rates [member]
Increase in 100 bps	$ 5,590
Decrease in 100 bps	(5,212)
Discount rate [member]
Increase in 100 bps	(5,170)
Decrease in 100 bps	$ 6,018

XML

EMPLOYEE BENEFITS (Details Parenthetical)	Dec. 31, 2017
Actuarial assumption of discount rates [member]
Basis points of reasonably possible increase in actuarial assumption	100
Basis points of reasonably possible decrease in actuarial assumption	100
Actuarial assumption of expected rates of salary increases [member]
Basis points of reasonably possible increase in actuarial assumption	100
Basis points of reasonably possible decrease in actuarial assumption	100

XML

EMPLOYEE BENEFITS (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Current			$ 5,730	$ 5,244
Non-current			66,033	60,084
Total	$ 71,763	$ 65,328	$ 71,763	$ 65,328
Opening balance	65,328	56,433
Current service cost	5,583	5,334
Interest cost	3,208	2,957
(Gains) losses from changes in actuarial assumptions	(3,711)	2,083
Actuarial gains and losses arising from experience	1,212	3,503
Benefits paid	(5,654)	(7,871)
Increase (decrease) for foreign currency exchange rates changes	5,792	2,889
Closing balance	$ 71,763	$ 65,328

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total Current Assets	$ 2,770,363	$ 2,722,360
Cash and Cash Equivalents	589,886	592,253	$ 500,025	$ 971,152
Other current financial assets	3,504	5,201
Other current non-financial assets	129,837	144,915
Trade and other current receivables	814,412	701,610
Accounts receivable due from related companies	3,488	12,505
Current Inventories	868,462	852,612
Current biological assets	307,796	306,117
Current tax assets	49,471	104,088
Non-current assets or disposal groups classified as held for sale	3,507	3,059
Total Non-Current Assets	11,224,237	11,283,821	10,983,979
Other non-current financial assets	56,600	8,868
Other non-current non-financial assets	121,521	130,319
Trade and other non-current receivables	16,040	14,273
Accounts receivable due from related companies, non-current	1,056	957
Investments accounted for using equity method	368,772	446,548	264,812
Intangible assets other than goodwill	88,615	89,497
Goodwill	69,922	74,893	69,475
Property, plant and equipment	7,034,299	6,919,495	6,896,396
Non-current biological assets	3,459,146	3,592,874
Deferred tax assets	8,266	6,097	$ 3,735
U.S Dollar [Member]
Cash and Cash Equivalents	501,352	524,426
Other current financial assets	3,497	4,879
Other current non-financial assets	48,632	62,246
Trade and other current receivables	550,674	489,056
Accounts receivable due from related companies	726	274
Current Inventories	809,689	812,748
Current biological assets	270,761	271,551
Current tax assets	7,769	6,199
Non-current assets or disposal groups classified as held for sale	2,835	3,059
Other non-current financial assets	56,600	8,868
Other non-current non-financial assets	104,711	95,658
Trade and other non-current receivables	4,247	6,895
Investments accounted for using equity method	130,276	124,324
Intangible assets other than goodwill	87,007	88,394
Goodwill	42,656	42,508
Property, plant and equipment	6,443,081	6,394,105
Non-current biological assets	2,934,819	3,185,872
Deferred tax assets	4,319	4,134
Euro [Member]
Cash and Cash Equivalents	4,306	2,357
Other current non-financial assets	104	71
Trade and other current receivables	20,498	26,544
Investments accounted for using equity method	185,410	156,990
Brazilian Real [Member]
Cash and Cash Equivalents	47,314	47,696
Other current non-financial assets	17,158	22,537
Trade and other current receivables	89,673	46,150
Accounts receivable due from related companies	171	726
Current Inventories	58,773	39,864
Current biological assets	37,035	34,566
Current tax assets	6,721	5,798
Non-current assets or disposal groups classified as held for sale	672	0
Other non-current non-financial assets	4,629	4,042
Trade and other non-current receivables	3,345	0
Investments accounted for using equity method	53,080	165,203
Intangible assets other than goodwill	1,516	1,026
Goodwill	27,266	32,385
Property, plant and equipment	585,202	520,448
Non-current biological assets	524,327	407,002
Deferred tax assets	3,622	1,697
Argentine Pesos [Member]
Cash and Cash Equivalents	10,038	4,046
Other current financial assets	0	315
Other current non-financial assets	5,832	12,261
Trade and other current receivables	26,863	15,137
Current tax assets	0	39
Other non-current non-financial assets	11,303	9,900
Other currencies [Member]
Cash and Cash Equivalents	3,685	3,327
Other current financial assets	7	7
Other current non-financial assets	5,306	3,500
Trade and other current receivables	17,702	16,620
Accounts receivable due from related companies	171	726
Current tax assets	3,188	2,696
Other non-current non-financial assets	693	636
Trade and other non-current receivables	0	527
Deferred tax assets	32	52
Chilean Pesos [Member]
Cash and Cash Equivalents	23,191	10,401
Other current non-financial assets	52,805	44,300
Trade and other current receivables	106,442	106,681
Accounts receivable due from related companies	2,192	10,548
Current tax assets	31,793	89,356
Other non-current non-financial assets	185	20,083
Trade and other non-current receivables	6,692	5,753
Investments accounted for using equity method	6	31
Intangible assets other than goodwill	92	77
Property, plant and equipment	6,016	4,942
Deferred tax assets	293	214
U.F. [Member]
Trade and other current receivables	2,560	1,422
Accounts receivable due from related companies	399	957
Trade and other non-current receivables	1,756	1,098
Accounts receivable due from related companies, non-current	$ 1,056	$ 957

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS. (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Total Liabilities, current	$ 1,399,394	$ 1,346,064
Other current financial liabilities	500,344	697,452
Bank Loans	392,872	195,623
Financial Leases	44,341	40,400
Other Loans	63,131	461,429
Trade and other current payables	717,346	537,891
Accounts payable to related companies	11,208	3,831
Other current provisions	2,728	842
Current tax liabilities	8,088	1,641
Current provisions for employee benefits	5,730	5,244
Other current non-financial liabilities	153,950	99,163
Total non-current liabilities	5,478,313	5,660,834
Other non-current financial liabilities	3,778,567	3,870,914
Bank Loans	465,585	718,735
Financial Leases	68,035	73,586
Other Loans	3,244,947	3,078,593
Other non-current provisions	36,008	38,138
Deferred tax liabilities	1,485,365	1,631,065	$ 1,619,012
Non-current provisions for employee benefits	66,033	60,084
Other non-current non-financial liabilities	112,340	60,633
Not later than three months [member]
Total Liabilities, current	1,045,364	806,280
Other current financial liabilities	148,778	196,001
Bank Loans	110,700	134,140
Financial Leases	9,928	9,534
Other Loans	28,150	52,327
Trade and other current payables	717,342	511,371
Accounts payable to related companies	11,208	3,831
Other current provisions	2,728	842
Current tax liabilities	6,361	1,641
Current provisions for employee benefits	5,595	5,214
Other current non-financial liabilities	153,352	87,380
Later than three months and not later than one year [member]
Total Liabilities, current	354,030	539,784
Other current financial liabilities	351,566	501,451
Bank Loans	282,172	61,483
Financial Leases	34,413	30,866
Other Loans	34,981	409,102
Trade and other current payables	4	26,520
Accounts payable to related companies	0	0
Other current provisions	0	0
Current tax liabilities	1,727	0
Current provisions for employee benefits	135	30
Other current non-financial liabilities	598	11,783
Later than five years [member]
Total non-current liabilities	2,452,760	2,061,543
Other non-current financial liabilities	2,322,926	1,850,430
Bank Loans	138,161	92,351
Financial Leases	0	0
Other Loans	2,184,765	1,758,079
Other non-current provisions	0	0
Deferred tax liabilities	129,834	151,469
Non-current provisions for employee benefits	0	0
Other non-current non-financial liabilities	0	59,644
Later than one year and not later than five years [member]
Total non-current liabilities	3,025,553	3,599,291
Other non-current financial liabilities	1,455,641	2,020,484
Bank Loans	327,424	626,384
Financial Leases	68,035	73,586
Other Loans	1,060,182	1,320,514
Other non-current provisions	36,008	38,138
Deferred tax liabilities	1,355,531	1,479,596
Non-current provisions for employee benefits	66,033	60,084
Other non-current non-financial liabilities	112,340	989
U.S Dollar [Member]
Other current financial liabilities	418,418	634,350
Bank Loans	385,829	190,743
Other Loans	32,589	443,607
Trade and other current payables	193,562	150,162
Accounts payable to related companies	1,354	1,969
Other current provisions	622	842
Current tax liabilities	283	448
Other current non-financial liabilities	119,891	63,137
Other non-current financial liabilities	2,479,630	2,666,331
Bank Loans	449,079	700,595
Other Loans	2,030,551	1,965,736
Other non-current provisions	7	1
Deferred tax liabilities	1,376,930	1,543,912
Other non-current non-financial liabilities	13	430
U.S Dollar [Member] | Not later than three months [member]
Other current financial liabilities	134,125	178,442
Bank Loans	108,317	130,571
Other Loans	25,808	47,871
Trade and other current payables	193,562	146,652
Accounts payable to related companies	1,354	1,969
Other current provisions	622	842
Current tax liabilities	283	448
Other current non-financial liabilities	119,309	62,974
U.S Dollar [Member] | Later than three months and not later than one year [member]
Other current financial liabilities	284,293	455,908
Bank Loans	277,512	60,172
Other Loans	6,781	395,736
Trade and other current payables	0	3,510
Accounts payable to related companies	0	0
Other current provisions	0	0
Current tax liabilities	0	0
Other current non-financial liabilities	582	163
U.S Dollar [Member] | Later than five years [member]
Other non-current financial liabilities	1,508,999	1,075,204
Bank Loans	138,161	91,309
Other Loans	1,370,838	983,895
Other non-current provisions	0	0
Deferred tax liabilities	129,834	131,406
Other non-current non-financial liabilities	0	0
U.S Dollar [Member] | Later than one year and not later than five years [member]
Other non-current financial liabilities	970,631	1,591,127
Bank Loans	310,918	609,286
Other Loans	659,713	981,841
Other non-current provisions	7	1
Deferred tax liabilities	1,247,096	1,412,506
Other non-current non-financial liabilities	13	430
Euro [Member]
Trade and other current payables	9,099	13,034
Current tax liabilities	158	7
Other current non-financial liabilities	77	53
Euro [Member] | Not later than three months [member]
Trade and other current payables	9,099	12,006
Current tax liabilities	158	7
Other current non-financial liabilities	77	53
Euro [Member] | Later than three months and not later than one year [member]
Trade and other current payables	0	1,028
Current tax liabilities	0	0
Other current non-financial liabilities	0	0
Brazilian Real [Member]
Other current financial liabilities	7,043	4,840
Bank Loans	7,043	4,840
Trade and other current payables	124,917	26,831
Other current provisions	2,106	0
Other current non-financial liabilities	18,016	21,042
Other non-current financial liabilities	16,506	18,140
Bank Loans	16,506	18,140
Other non-current provisions	4,682	5,425
Deferred tax liabilities	108,435	87,153
Other non-current non-financial liabilities	111,634	59,644
Brazilian Real [Member] | Not later than three months [member]
Other current financial liabilities	2,383	3,558
Bank Loans	2,383	3,558
Trade and other current payables	124,917	4,849
Other current provisions	2,106	0
Other current non-financial liabilities	18,016	9,426
Brazilian Real [Member] | Later than three months and not later than one year [member]
Other current financial liabilities	4,660	1,282
Bank Loans	4,660	1,282
Trade and other current payables	0	21,982
Other current provisions	0	0
Other current non-financial liabilities	0	11,616
Brazilian Real [Member] | Later than five years [member]
Other non-current financial liabilities	0	1,042
Bank Loans	0	1,042
Other non-current provisions	0	0
Deferred tax liabilities	0	20,063
Other non-current non-financial liabilities	0	59,644
Brazilian Real [Member] | Later than one year and not later than five years [member]
Other non-current financial liabilities	16,506	17,098
Bank Loans	16,506	17,098
Other non-current provisions	4,682	5,425
Deferred tax liabilities	108,435	67,090
Other non-current non-financial liabilities	111,634	0
Argentine Pesos [Member]
Other current financial liabilities	0	40
Bank Loans	0	40
Trade and other current payables	29,243	31,661
Current tax liabilities	46	133
Other current non-financial liabilities	3,215	3,474
Other non-current provisions	31,316	32,712
Other non-current non-financial liabilities	480	349
Argentine Pesos [Member] | Not later than three months [member]
Other current financial liabilities	0	11
Bank Loans	0	11
Trade and other current payables	29,243	31,661
Current tax liabilities	46	133
Other current non-financial liabilities	3,215	3,474
Argentine Pesos [Member] | Later than three months and not later than one year [member]
Other current financial liabilities	0	29
Bank Loans	0	29
Trade and other current payables	0	0
Current tax liabilities	0	0
Other current non-financial liabilities	0	0
Argentine Pesos [Member] | Later than five years [member]
Other non-current provisions	0	0
Other non-current non-financial liabilities	0	0
Argentine Pesos [Member] | Later than one year and not later than five years [member]
Other non-current provisions	31,316	32,712
Other non-current non-financial liabilities	480	349
Other currencies [Member]
Trade and other current payables	4,936	12,244
Current tax liabilities	479	574
Other current non-financial liabilities	3,906	3,202
Non-current provisions for employee benefits	129	144
Other currencies [Member] | Not later than three months [member]
Trade and other current payables	4,936	12,244
Current tax liabilities	479	574
Other current non-financial liabilities	3,906	3,202
Other currencies [Member] | Later than three months and not later than one year [member]
Trade and other current payables	0	0
Current tax liabilities	0	0
Other current non-financial liabilities	0	0
Other currencies [Member] | Later than five years [member]
Non-current provisions for employee benefits	0	0
Other currencies [Member] | Later than one year and not later than five years [member]
Non-current provisions for employee benefits	129	144
Chilean Pesos [Member]
Other current financial liabilities	5,624	4,519
Financial Leases	5,624	4,519
Trade and other current payables	333,529	285,359
Accounts payable to related companies	9,854	1,862
Current tax liabilities	7,122	479
Current provisions for employee benefits	5,730	5,244
Other current non-financial liabilities	8,825	8,187
Other non-current financial liabilities	9,839	11,151
Financial Leases	9,839	11,151
Other non-current provisions	3	0
Non-current provisions for employee benefits	65,904	59,940
Other non-current non-financial liabilities	213	206
Chilean Pesos [Member] | Not later than three months [member]
Other current financial liabilities	1,508	1,132
Financial Leases	1,508	1,132
Trade and other current payables	333,525	285,359
Accounts payable to related companies	9,854	1,862
Current tax liabilities	5,395	479
Current provisions for employee benefits	5,595	5,214
Other current non-financial liabilities	8,809	8,183
Chilean Pesos [Member] | Later than three months and not later than one year [member]
Other current financial liabilities	4,116	3,387
Financial Leases	4,116	3,387
Trade and other current payables	4	0
Accounts payable to related companies	0	0
Current tax liabilities	1,727	0
Current provisions for employee benefits	135	30
Other current non-financial liabilities	16	4
Chilean Pesos [Member] | Later than five years [member]
Other non-current financial liabilities	0	0
Financial Leases	0	0
Other non-current provisions	0	0
Non-current provisions for employee benefits	0	0
Other non-current non-financial liabilities	0	0
Chilean Pesos [Member] | Later than one year and not later than five years [member]
Other non-current financial liabilities	9,839	11,151
Financial Leases	9,839	11,151
Other non-current provisions	3	0
Non-current provisions for employee benefits	65,904	59,940
Other non-current non-financial liabilities	213	206
Unidad de Fomento [Member]
Other current financial liabilities	69,259	53,703
Financial Leases	38,717	35,881
Other Loans	30,542	17,822
Trade and other current payables	22,060	18,600
Other current non-financial liabilities	20	68
Other non-current financial liabilities	1,272,592	1,175,292
Financial Leases	58,196	62,435
Other Loans	1,214,396	1,112,857
Other non-current non-financial liabilities	0	4
Unidad de Fomento [Member] | Not later than three months [member]
Other current financial liabilities	10,762	12,858
Financial Leases	8,420	8,402
Other Loans	2,342	4,456
Trade and other current payables	22,060	18,600
Other current non-financial liabilities	20	68
Unidad de Fomento [Member] | Later than three months and not later than one year [member]
Other current financial liabilities	58,497	40,845
Financial Leases	30,297	27,479
Other Loans	28,200	13,366
Trade and other current payables	0	0
Other current non-financial liabilities	0	0
Unidad de Fomento [Member] | Later than five years [member]
Other non-current financial liabilities	813,927	774,184
Financial Leases	0	0
Other Loans	813,927	774,184
Other non-current non-financial liabilities	0	0
Unidad de Fomento [Member] | Later than one year and not later than five years [member]
Other non-current financial liabilities	458,665	401,108
Financial Leases	58,196	62,435
Other Loans	400,469	338,673
Other non-current non-financial liabilities	$ 0	$ 4

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS. (Details 2)	12 Months Ended
	Dec. 31, 2017
Arauco do Brasil S.A. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Arauco Forest Brasil S.A. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Arauco Florestal Arapoti S.A. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Empreendimentos Florestais Santa Cruz Ltda. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Mahal Empreendimentos e Participacoes S.A. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Investigaciones Forestales Bioforest S.A. [Member]
Country of incorporation of subsidiary	Chile
Description of functional currency	Chilean Pesos
Consorcio Proteccion Fitosanitaria Forestal S.A. [Member]
Country of incorporation of subsidiary	Chile
Description of functional currency	Chilean Pesos
Forestal Nuestra Senora del Carmen S.A. [Member]
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Forestal Talavera S.A. [Member]
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Greeneagro S.A. [Member]
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine Pesos
Leasing Forestal S.A. [Member]
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Savitar S.A. [Member]
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Flakeboard Company Limited [Member]
Country of incorporation of subsidiary	Canada
Description of functional currency	Canadian Dollar
Arauco Industria de Paineis Ltda. [Member]
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS. (Details 3) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reserve of exchange differences on translation	$ 12,114	$ 168,884	$ (374,275)
Arauco do Brasil S.A. [Member]
Reserve of exchange differences on translation	(6,537)	73,087	(155,390)
Arauco Forest Brasil S.A. [Member]
Reserve of exchange differences on translation	(6,929)	68,314	(140,992)
Arauco Florestal Arapoti S.A. [Member]
Reserve of exchange differences on translation	(1,051)	19,523	(43,189)
Sonae Arauco S.A. [Member]
Reserve of exchange differences on translation	20,547	0	0
Arauco Distribucion S.A. [Member]
Reserve of exchange differences on translation	0	0	(4,180)
Arauco Argentina S.A. [Member]
Reserve of exchange differences on translation	(752)	4,989	(13,308)
Flakeboard Company Limited [Member]
Reserve of exchange differences on translation	6,529	2,984	(16,915)
Other subsidiaries [Member]
Reserve of exchange differences on translation	$ 307	$ (13)	$ (301)

XML

BALANCES IN FOREIGN CURRENCY AND FOREIGN CURRENCY EXCHANGE RATE IMPACT IN PROFIT OR LOSS. (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Exchange differences recognized in profit or loss, except for those arising on financial instruments measured at fair value through profit or loss	$ 98	$ (3,935)	$ (41,171)
Reserve of exchange differences on translation (with Non-controlling interests)	12,114	168,884	(374,275)
Non-controlling interests [member]
Reserve of exchange differences on translation (with Non-controlling interests)	$ 11,873	$ 173,754	$ (385,109)

XML

BORROWING COSTS (Details) - Property, Plant and Equipment [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, plant and equipment capitalized interest cost rate	4.91%	5.11%
Amount of the capitalized interest cost, property, plant and equipment	$ 5,603	$ 2,177

XML

RELATED PARTIES (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Agenciamiento y Servicios Profesionales S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Mexico
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Argentina S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9801%	99.9801%
Arauco Australia Pty Ltd [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Australia
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Bioenergia S.A. [Member]
Description of Identity Number	96547510-9
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9999%	99.9999%
Arauco Colombia S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Colombia
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9982%	99.9982%
Arauco do Brasil S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Europe Cooperatief U.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Netherlands
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Florestal Arapoti S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	79.9992%	79.9992%
Arauco Forest Brasil S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.9992%	99.9991%
Arauco Middle East DMCC [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Dubai
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Nutrientes Naturales SPA [Member]
Description of Identity Number	76620842-8
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9484%	99.9484%
Arauco Panels USA, LLC [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	USA
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Peru S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Peru
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Arauco Wood Products, Inc. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	USA
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Araucomex S.A. de C.V. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Mexico
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Consorcio Proteccion Fitosanitaria Forestal S.A. [Member]
Description of Identity Number	96657900-5
Country of incorporation of subsidiary	Chile
Description of functional currency	Chilean Pesos
Proportion of ownership interest in subsidiary	57.5223%	57.5404%
Empreendimentos Florestais Santa Cruz Ltda. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.9795%	99.9789%
Flakeboard America Limited [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	USA
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Flakeboard Company Ltd. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Canada
Description of functional currency	Canadian Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Forestal Arauco S.A. [Member]
Description of Identity Number	85805200-9
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9484%	99.9484%
Forestal Cholguan S.A. [Member]
Description of Identity Number	93838000-7
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	98.4826%	98.4744%
Forestal Concepcion S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Panama
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	0.00%	99.999%
Forestal Los Lagos S.A. [Member]
Description of Identity Number	78049140-K
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	79.9587%	79.9587%
Forestal Nuestra Senora del Carmen S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Proportion of ownership interest in subsidiary	99.9805%	99.9805%
Forestal Talavera S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Proportion of ownership interest in subsidiary	99.9942%	99.9942%
Greenagro S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Proportion of ownership interest in subsidiary	97.9805%	97.9805%
Inversiones Arauco Internacional Ltda. [Member]
Description of Identity Number	96563550-5
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Investigaciones Forestales Bioforest S.A. [Member]
Description of Identity Number	79990550-7
Country of incorporation of subsidiary	Chile
Description of functional currency	Chilean Pesos
Proportion of ownership interest in subsidiary	99.9489%	99.9489%
Leasing Forestal S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Proportion of ownership interest in subsidiary	99.9801%	99.9801%
Maderas Arauco S.A. (ex Paneles Arauco S.A.) [Member]
Description of Identity Number	96510970-6
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9995%	99.9995%
Mahal Empreendimentos e Participacoes S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.9961%	99.9934%
Novo Oeste Gestao de Ativos Florestais S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.9991%	99.999%
Savitar S.A. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Argentina
Description of functional currency	Argentine pesos
Proportion of ownership interest in subsidiary	99.9841%	99.9841%
Servicios Aereos Forestales Ltda. [Member]
Description of Identity Number	76375371-9
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.999%	99.999%
Servicios Logisticos Arauco S.A. [Member]
Description of Identity Number	96637330-K
Country of incorporation of subsidiary	Chile
Description of functional currency	U.S. Dollar
Proportion of ownership interest in subsidiary	99.9997%	99.9997%
Arauco Industria de Paineis Ltda. [Member]
Description of Identity Number	-
Country of incorporation of subsidiary	Brazil
Description of functional currency	Brazilian Real
Proportion of ownership interest in subsidiary	99.999%	0.00%
Direct Holdings [Member] | Agenciamiento y Servicios Profesionales S.A. [Member]
Proportion of ownership interest in subsidiary	0.002%	0.002%
Direct Holdings [Member] | Arauco Argentina S.A. [Member]
Proportion of ownership interest in subsidiary	9.9753%	9.9753%
Direct Holdings [Member] | Arauco Australia Pty Ltd [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Arauco Bioenergia S.A. [Member]
Proportion of ownership interest in subsidiary	98.00%	98.00%
Direct Holdings [Member] | Arauco Colombia S.A. [Member]
Proportion of ownership interest in subsidiary	1.4778%	1.4778%
Direct Holdings [Member] | Arauco do Brasil S.A. [Member]
Proportion of ownership interest in subsidiary	1.1624%	1.1624%
Direct Holdings [Member] | Arauco Europe Cooperatief U.A. [Member]
Proportion of ownership interest in subsidiary	0.5689%	0.4614%
Direct Holdings [Member] | Arauco Florestal Arapoti S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Arauco Forest Brasil S.A. [Member]
Proportion of ownership interest in subsidiary	9.9971%	10.1297%
Direct Holdings [Member] | Arauco Middle East DMCC [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Arauco Nutrientes Naturales SPA [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Arauco Panels USA, LLC [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Arauco Peru S.A. [Member]
Proportion of ownership interest in subsidiary	0.0013%	0.0013%
Direct Holdings [Member] | Arauco Wood Products, Inc. [Member]
Proportion of ownership interest in subsidiary	0.0004%	0.0004%
Direct Holdings [Member] | Araucomex S.A. de C.V. [Member]
Proportion of ownership interest in subsidiary	0.0005%	0.0005%
Direct Holdings [Member] | Consorcio Proteccion Fitosanitaria Forestal S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Empreendimentos Florestais Santa Cruz Ltda. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Flakeboard America Limited [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Flakeboard Company Ltd. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Forestal Arauco S.A. [Member]
Proportion of ownership interest in subsidiary	99.9484%	99.9484%
Direct Holdings [Member] | Forestal Cholguan S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Forestal Concepcion S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.005%
Direct Holdings [Member] | Forestal Los Lagos S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Forestal Nuestra Senora del Carmen S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Forestal Talavera S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Greenagro S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Inversiones Arauco Internacional Ltda. [Member]
Proportion of ownership interest in subsidiary	98.0186%	98.0186%
Direct Holdings [Member] | Investigaciones Forestales Bioforest S.A. [Member]
Proportion of ownership interest in subsidiary	1.00%	1.00%
Direct Holdings [Member] | Leasing Forestal S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Maderas Arauco S.A. (ex Paneles Arauco S.A.) [Member]
Proportion of ownership interest in subsidiary	99.00%	99.00%
Direct Holdings [Member] | Mahal Empreendimentos e Participacoes S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Novo Oeste Gestao de Ativos Florestais S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Savitar S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Direct Holdings [Member] | Servicios Aereos Forestales Ltda. [Member]
Proportion of ownership interest in subsidiary	0.01%	0.01%
Direct Holdings [Member] | Servicios Logisticos Arauco S.A. [Member]
Proportion of ownership interest in subsidiary	45.00%	45.00%
Direct Holdings [Member] | Arauco Industria de Paineis Ltda. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Indirect Holdings [Member] | Agenciamiento y Servicios Profesionales S.A. [Member]
Proportion of ownership interest in subsidiary	99.997%	99.997%
Indirect Holdings [Member] | Arauco Argentina S.A. [Member]
Proportion of ownership interest in subsidiary	90.0048%	90.0048%
Indirect Holdings [Member] | Arauco Australia Pty Ltd [Member]
Proportion of ownership interest in subsidiary	99.999%	99.999%
Indirect Holdings [Member] | Arauco Bioenergia S.A. [Member]
Proportion of ownership interest in subsidiary	1.9999%	1.9999%
Indirect Holdings [Member] | Arauco Colombia S.A. [Member]
Proportion of ownership interest in subsidiary	98.5204%	98.5204%
Indirect Holdings [Member] | Arauco do Brasil S.A. [Member]
Proportion of ownership interest in subsidiary	98.8366%	98.8366%
Indirect Holdings [Member] | Arauco Europe Cooperatief U.A. [Member]
Proportion of ownership interest in subsidiary	99.4301%	99.5376%
Indirect Holdings [Member] | Arauco Florestal Arapoti S.A. [Member]
Proportion of ownership interest in subsidiary	79.9992%	79.9992%
Indirect Holdings [Member] | Arauco Forest Brasil S.A. [Member]
Proportion of ownership interest in subsidiary	90.0021%	89.8694%
Indirect Holdings [Member] | Arauco Middle East DMCC [Member]
Proportion of ownership interest in subsidiary	99.999%	99.999%
Indirect Holdings [Member] | Arauco Nutrientes Naturales SPA [Member]
Proportion of ownership interest in subsidiary	99.9484%	99.9484%
Indirect Holdings [Member] | Arauco Panels USA, LLC [Member]
Proportion of ownership interest in subsidiary	99.999%	99.999%
Indirect Holdings [Member] | Arauco Peru S.A. [Member]
Proportion of ownership interest in subsidiary	99.9977%	99.9977%
Indirect Holdings [Member] | Arauco Wood Products, Inc. [Member]
Proportion of ownership interest in subsidiary	99.9986%	99.9986%
Indirect Holdings [Member] | Araucomex S.A. de C.V. [Member]
Proportion of ownership interest in subsidiary	99.9985%	99.9985%
Indirect Holdings [Member] | Consorcio Proteccion Fitosanitaria Forestal S.A. [Member]
Proportion of ownership interest in subsidiary	57.5223%	57.5404%
Indirect Holdings [Member] | Empreendimentos Florestais Santa Cruz Ltda. [Member]
Proportion of ownership interest in subsidiary	99.9795%	99.9789%
Indirect Holdings [Member] | Flakeboard America Limited [Member]
Proportion of ownership interest in subsidiary	99.999%	99.999%
Indirect Holdings [Member] | Flakeboard Company Ltd. [Member]
Proportion of ownership interest in subsidiary	99.999%	99.999%
Indirect Holdings [Member] | Forestal Arauco S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	0.00%
Indirect Holdings [Member] | Forestal Cholguan S.A. [Member]
Proportion of ownership interest in subsidiary	98.4826%	98.4744%
Indirect Holdings [Member] | Forestal Concepcion S.A. [Member]
Proportion of ownership interest in subsidiary	0.00%	99.994%
Indirect Holdings [Member] | Forestal Los Lagos S.A. [Member]
Proportion of ownership interest in subsidiary	79.9587%	79.9587%
Indirect Holdings [Member] | Forestal Nuestra Senora del Carmen S.A. [Member]
Proportion of ownership interest in subsidiary	99.9805%	99.9805%
Indirect Holdings [Member] | Forestal Talavera S.A. [Member]
Proportion of ownership interest in subsidiary	99.9942%	99.9942%
Indirect Holdings [Member] | Greenagro S.A. [Member]
Proportion of ownership interest in subsidiary	97.9805%	97.9805%
Indirect Holdings [Member] | Inversiones Arauco Internacional Ltda. [Member]
Proportion of ownership interest in subsidiary	1.9804%	1.9804%
Indirect Holdings [Member] | Investigaciones Forestales Bioforest S.A. [Member]
Proportion of ownership interest in subsidiary	98.9489%	98.9489%
Indirect Holdings [Member] | Leasing Forestal S.A. [Member]
Proportion of ownership interest in subsidiary	99.9801%	99.9801%
Indirect Holdings [Member] | Maderas Arauco S.A. (ex Paneles Arauco S.A.) [Member]
Proportion of ownership interest in subsidiary	0.9995%	0.9995%
Indirect Holdings [Member] | Mahal Empreendimentos e Participacoes S.A. [Member]
Proportion of ownership interest in subsidiary	99.9961%	99.9934%
Indirect Holdings [Member] | Novo Oeste Gestao de Ativos Florestais S.A. [Member]
Proportion of ownership interest in subsidiary	99.9991%	99.999%
Indirect Holdings [Member] | Savitar S.A. [Member]
Proportion of ownership interest in subsidiary	99.9841%	99.9841%
Indirect Holdings [Member] | Servicios Aereos Forestales Ltda. [Member]
Proportion of ownership interest in subsidiary	99.989%	99.989%
Indirect Holdings [Member] | Servicios Logisticos Arauco S.A. [Member]
Proportion of ownership interest in subsidiary	54.9997%	54.9997%
Indirect Holdings [Member] | Arauco Industria de Paineis Ltda. [Member]
Proportion of ownership interest in subsidiary	99.999%	0.00%

XML

RELATED PARTIES (Details 1)	12 Months Ended
	Dec. 31, 2017
Eufores S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Celulosa y Energia Punta Pereira S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Zona Franca Punta Pereira S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Forestal Cono Sur S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Stora Enso Uruguay S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
El Esparragal Asociacion Agraria de R.L. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Ongar S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar
Terminal Logistica e Industrial M’Bopicua S.A. [Member]
Country of incorporation of subsidiary	Uruguay
Description of functional currency	U.S. Dollar

XML

RELATED PARTIES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Salaries and bonuses	$ 59,501	$ 73,398	$ 65,760
Per diem compensation to members of the Board of Directors	2,566	1,783	1,097
Termination benefits	4,936	6,174	2,250
Total	$ 67,003	$ 81,355	$ 69,107

XML

RELATED PARTIES (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Non-current receivables due from related parties	$ 1,056	$ 957
Current payables [Member]
Non-current receivables due from related parties	$ 11,208	3,831
Abastible S.A. [Member] | Current payables [Member]
Description of Identity Number	91.806.000-6
Description of nature of related party relationship	Controlling Parent’s Subsidiary
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 545	97
Fundación Acerca Redes [Member] | Current payables [Member]
Description of Identity Number	71.625.000-8
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 54	0
Compañía Puerto de Coronel S.A. [Member] | Current payables [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	U.S. Dollar
Related party receivables, maturity	-
Non-current receivables due from related parties	$ 0	723
Compania de Petroleos de Chile S.A [Member] | Current payables [Member]
Description of Identity Number	99.520.000-7
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 8,837	1,758
Portaluppi, Guzman y Bezanilla Abogados [Member] | Current payables [Member]
Description of Identity Number	78.096.080-9
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 146	0
Puerto Lirquen S.A. [Member] | Current payables [Member]
Description of Identity Number	96.959.030-1
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	U.S. Dollar
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 1,354	1,246
Adm. de ventas al detalle Arco Prime Ltda [Member] | Current payables [Member]
Description of Identity Number	77.215.640-5
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 14	5
Empresa Distrib. Papeles y Cartones S.A [Member] | Current payables [Member]
Description of Identity Number	88.566.900-k
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	-
Non-current receivables due from related parties	$ 0	2
Red to Green S.A. (Ex-Sigma Servicios Informáticos S.A.) [Member] | Current payables [Member]
Description of Identity Number	86.370.800-1
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 1	0
Empresa Nacional de Telecomunicaciones S.A. [Member] | Current payables [Member]
Description of Identity Number	92.580.000-7
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 137	0
Servicios corporativos sercor s.a. [Member] | Current payables [Member]
Description of Identity Number	96.925.430-1
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 29	0
Adm.Estaciones de Servicio Serco Ltda. [Member] | Current payables [Member]
Description of Identity Number	79.689.550-0
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 1	0
Elemental S.A. [Member] | Current payables [Member]
Description of Identity Number	76.659.730-0
Description of nature of related party relationship	Indirect associate of controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 4	0
Woodtech S.A. [Member] | Current payables [Member]
Description of Identity Number	76.724.000-7
Description of nature of related party relationship	Indirect associate of controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity	30 days
Non-current receivables due from related parties	$ 86	$ 0
Current receivables [Member] | Forestal Mininco S.A [Member]
Description of Identity Number	91.440.000-7
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 25	$ 39
Current receivables [Member] | Eka Chile S.A [Member]
Description of Identity Number	99.500.140-3
Description of nature of related party relationship	Joint Venture
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 2,027	$ 1,701
Current receivables [Member] | Forestal del Sur S.A [Member]
Description of Identity Number	79.825.060-4
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 4	$ 7,618
Current receivables [Member] | Unilin Arauco Pisos Ltda. [Member]
Description of Identity Number	-
Description of nature of related party relationship	Joint Venture
Country of incorporation	Brazil
Description of functional currency	Brazilian Real
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 171	$ 726
Current receivables [Member] | CMPC Celulosa S.A. [Member]
Description of Identity Number	96.532.330-9
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		-
Non-current receivables due from related parties	$ 0	$ 2
Current receivables [Member] | Fundación Educacional Arauco [Member]
Description of Identity Number	71.625.000-8
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		-
Non-current receivables due from related parties	$ 0	$ 1,188
Current receivables [Member] | Fundación Acerca Redes [Member]
Description of Identity Number	65.097.218-K
Description of nature of related party relationship	Parent company is founder and contributor
Country of incorporation	Chile
Description of functional currency	U.S. Dollar
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 726	$ 274
Current receivables [Member] | Compañía Puerto de Coronel S.A. [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of an Associate
Country of incorporation	Chile
Description of functional currency	U.F.
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 399	$ 957
Current receivables [Member] | Colbun S.A. [Member]
Description of Identity Number	96.505.760-9
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Related party receivables, maturity		30 days
Non-current receivables due from related parties	$ 136	$ 0
Non current receivables one [Member] | Compañía Puerto de Coronel S.A. [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of an Associate
Country of incorporation	Chile
Description of functional currency	U.F.
Related party receivables, maturity	Sep-18
Non-current receivables due from related parties	$ 528	478
Non current receivables two [Member] | Compañía Puerto de Coronel S.A. [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of an Associate
Country of incorporation	Chile
Description of functional currency	U.F.
Related party receivables, maturity	Sep-19
Non-current receivables due from related parties	$ 528	$ 478

XML

RELATED PARTIES (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Purchases [Member] | Abastible S.A. [Member]
Description of Identity Number	91.806.000-6
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Fuel
Purchases of goods, related party transactions	$ 3,115	$ 2,199	$ 2,503
Purchases [Member] | Empresas Copec S.A [Member]
Description of Identity Number	90.690.000-9
Description of nature of related party relationship	Controlling Parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Management service
Purchases of goods, related party transactions	$ 106	356	233
Purchases [Member] | Compania de Petroleos de Chile S.A [Member]
Description of Identity Number	99.520.000-7
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Fuel and other
Purchases of goods, related party transactions	$ 66,789	39,732	61,245
Purchases [Member] | Compania Puerto de Coronel S.A. [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	U.S. Dollar
Description of transactions with related party	Transport and stowage
Purchases of goods, related party transactions	$ 9,986	8,633	10,917
Purchases [Member] | Puerto Lirquen S.A. [Member]
Description of Identity Number	96.959.030-1
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	U.S. Dollar
Description of transactions with related party	Port services
Purchases of goods, related party transactions	$ 6,956	7,311	7,694
Purchases [Member] | EKA Chile S.A.
Description of Identity Number	99.500.140-3
Description of nature of related party relationship	Joint Venture
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Sodium chlorate
Purchases of goods, related party transactions	$ 44,055	47,236	39,362
Purchases [Member] | Forestal del Sur S.A [Member]
Description of Identity Number	79.825.060-4
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Wood and ships
Purchases of goods, related party transactions	$ 1,310	2,093	2,018
Purchases [Member] | Portaluppi, Guzman y Bezanilla Abogados [Member]
Description of Identity Number	78.096.080-9
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Legal services
Purchases of goods, related party transactions	$ 1,496	1,295	1,312
Purchases [Member] | Empresa Nacional de Telecomunicaciones S.A. [Member]
Description of Identity Number	92.580.000-7
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Telephone services
Purchases of goods, related party transactions	$ 460	512	552
Purchases [Member] | CMPC Maderas S.A [Member]
Description of Identity Number	95.304.000-K
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Wood and logs
Purchases of goods, related party transactions	$ 330	511	267
Purchases [Member] | Forestal Mininco S.A [Member]
Description of Identity Number	91.440.000-7
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Wood and logs
Purchases of goods, related party transactions	$ 62	180	204
Purchases [Member] | Red to Green S.A.(Ex-Sigma Servicios Informaticos S.A.) [Member]
Description of Identity Number	86.370.800-1
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Computer Services
Purchases of goods, related party transactions	$ 130	249	59
Purchases [Member] | Empresa de Residuos Resiter Ltda [Member]
Description of Identity Number	89.696.400-3
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Industrial Cleaning Services
Purchases of goods, related party transactions	$ 0	0	(285)
Purchases [Member] | Empresas de Residuos Industriales Resiter Ltda [Member]
Description of Identity Number	76.329.072-7
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Industrial Cleaning Services
Purchases of goods, related party transactions	$ 0	0	5,027
Purchases [Member] | Resiter Uruguay S.A [Member]
Description of Identity Number	-
Description of nature of related party relationship	Common director
Country of incorporation	Uruguay
Description of functional currency	U.S. Dollar
Description of transactions with related party	Service to collect solid waste
Purchases of goods, related party transactions	$ 0	0	774
Purchases [Member] | Colbun Transmision S.A [Member]
Description of Identity Number	76.218.856-2
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Electrical Power
Purchases of goods, related party transactions	$ 389	383	447
Purchases [Member] | CMPC Celulosa S.A. [Member]
Description of Identity Number	96.532.330-9
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Others purchases
Purchases of goods, related party transactions	$ 965	3	2,217
Purchases [Member] | Woodtech S.A. [Member]
Description of Identity Number	76.724.000-7
Description of nature of related party relationship	Indirect associate of controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Wood volumen measurement services
Purchases of goods, related party transactions	$ 2,239	982	0
Purchases [Member] | Inversiones Siemel S.A. [Member]
Description of Identity Number	94.082.000-6
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Rentals
Purchases of goods, related party transactions	$ 596	777	0
Sales [Member] | Compania de Petroleos de Chile S.A [Member]
Description of Identity Number	99.520.000-7
Description of nature of related party relationship	Common controlling parent
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Charter Services
Purchases of goods, related party transactions	$ 202	0	0
Sales [Member] | Compania Puerto de Coronel S.A. [Member]
Description of Identity Number	79.895.330-3
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Chile
Description of functional currency	U.F.
Description of transactions with related party	Sale Land
Purchases of goods, related party transactions	$ 0	1,914	0
Sales [Member] | EKA Chile S.A.
Description of Identity Number	99.500.140-3
Description of nature of related party relationship	Joint venture
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Electrical Power
Purchases of goods, related party transactions	$ 19,182	16,326	17,543
Sales [Member] | Forestal del Sur S.A [Member]
Description of Identity Number	79.825.060-4
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Harvesting services, Wood and chips
Purchases of goods, related party transactions	$ 25,322	21,657	19,328
Sales [Member] | Forestal Mininco S.A [Member]
Description of Identity Number	91.440.000-7
Description of nature of related party relationship	Common Stockholder
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Wood
Revenue from sale of goods, related party transactions	$ 0	47	311
Sales [Member] | Colbun S.A. [Member]
Description of Identity Number	96.505.760-9
Description of nature of related party relationship	Common director
Country of incorporation	Chile
Description of functional currency	Chilean pesos
Description of transactions with related party	Electrical Power
Purchases of goods, related party transactions	$ 1,128	5,999	1,083
Sales [Member] | Stora Enso Arapoti Industria de Papel S.A [Member]
Description of Identity Number	-
Description of nature of related party relationship	Subsidiary of the Associate
Country of incorporation	Brazil
Description of functional currency	Brazilian Real
Description of transactions with related party	Wood
Purchases of goods, related party transactions	$ 0	1,149	5,617
Sales [Member] | Unilin Arauco Pisos Ltda. [Member]
Description of Identity Number	-
Description of nature of related party relationship	Joint venture
Country of incorporation	Brazil
Description of functional currency	Brazilian Real
Description of transactions with related party	Wood
Purchases of goods, related party transactions	$ 2,966	$ 5,263	$ 2,666

XML

RELATED PARTIES (Details 5) - Other Transactions [Member] - Novo Oeste Gestao de Ativo Florestais S.A [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Description of Identity Number	[1]	-
Description of nature of related party relationship	[1]	Subsidiary of the Associate
Country of incorporation	[1]	Brazil
Description of functional currency	[1]	Brazilian Real
Description of transactions with related party	[1]	Loans (Capital and interest)
Amounts payable, related party transactions	[1]	$ 0	$ 0	$ 41,091

[1] Since October 2015, the company is a subsidiary of Arauco, therefore, the transactions presented in this note are those made with this Company until that month (see Note 14).

XML

CONSOLIDATED FINANCIAL STATEMENTS (Details) - Arauco Industria de Paineis Ltda. [Member] $ in Thousands	Dec. 06, 2017 USD ($)
Cash and cash equivalent	$ 4,345
Trade and other current receivables	49,715
Inventories	23,331
Property, plant and equipment	68,321
Other assets	27,012
Total assets	172,724
Other financial liabilities, current and non-current	43,218
Trade and other payables	26,437
Other liabilities	70,371
Total liabilities	$ 140,026

XML

CONSOLIDATED FINANCIAL STATEMENTS (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Revenue	$ 11,830
Net loss	$ (1,376)

XML

CONSOLIDATED FINANCIAL STATEMENTS (Details 2) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Disclosure Of Consolidated And Separate Financial Statements [Abstract]
Revenue	$ 5,395,859
Net profit	$ 261,776

XML

CONSOLIDATED FINANCIAL STATEMENTS (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 06, 2017	Aug. 02, 2016
Capital commitments		$ 10,000
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities		15,918	$ 0	$ 10,090
Arauco Nutrientes Naturales SPA [Member]
Capital commitments						$ 5,000
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities		3,000
Arauco Industria de Paineis Ltda. [Member]
Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities	$ 16,780	$ 15,918
Consideration transferred, acquisition-date fair value					$ 32,698

XML

INVESTMENTS IN ASSOCIATES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Puertos y logistica s.a. [Member]
Name	Puertos y Logística S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Docking and warehousing operations for proprietary and third party use, cargo of all classes of goods, as well, as warehousing and transport operations.
Ownership interest (%)	20.2767%
Carrying amount	$ 62,225	$ 61,505
Inversiones puerto coronel s.a. [Member]
Name	Inversiones Puerto Coronel S.A.
Country	Chile
Functional Currency	U.S. Dollar
Corporate purpose	Investments in movables and real estate, acquisition of companies, securities and investment instruments, investment management and development and/or participation in all kind of businesses and companies related to industrial, shipping, forestry and commercial activities.
Ownership interest (%)	50.00%
Carrying amount	$ 47,619	43,559
Servicios corporativos sercor s.a. [Member]
Name	Servicios Corporativos Sercor S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Consulting services related to business management to Boards of Directors and Senior Management of all Arauco’s entities.
Ownership interest (%)	20.00%
Carrying amount	$ 191	190
Genomica forestal s.a. [Member]
Name	Genómica Forestal S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing forestry genomics, through the use of biotechnological, molecular and bioinformatics tools with the purpose of strengthening genetic programs so as to improve the competitive position of the Chilean forestry industry for priority tree species.
Ownership interest (%)	25.00%
Carrying amount	$ (4)	(1)
Consorcio tecnologico bioenercel [Member]
Name	Consorcio Tecnológico Bioenercel S.A.
Country	Chile
Functional Currency	Chilean Pesos
Corporate purpose	Developing of technologies which will promote the development of a biofuels industry in Chile, obtained from lingo-cellulosic materials. The future execution of this sustainable project is financed by the Innova Chile Committee.
Ownership interest (%)	20.00%
Carrying amount	$ 6	31
Vale do corisco [Member]
Name	Vale do Corisco S.A.
Country	Brazil
Functional Currency	Brazilian Real
Corporate purpose	Management of forestry activities.
Ownership interest (%)	49.00%
Carrying amount	$ 48,921	$ 160,490

XML

INVESTMENTS IN ASSOCIATES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current Assets	$ 2,770,363	$ 2,722,360
Non-current Assets	11,224,237	11,283,821	$ 10,983,979
Total Assets	13,994,600	14,006,181	13,670,391
Current Liabilities	1,399,394	1,346,064
Non-current Liabilities	5,478,313	5,660,834
Equity	7,116,893	6,999,283	6,646,445	$ 6,814,736
Total Equity and liabilities	13,994,600	14,006,181
Revenues	5,238,341	4,761,385	5,146,740
Expenses	(167,478)	(125,034)
Profit or loss (continuing operations)	270,352	217,577	367,711
Other comprehensive income	24,023	226,188	(389,145)
Total comprehensive income	294,375	443,765	(21,434)
Dividends	(176,749)	(90,828)	$ (146,029)
Puertos y Logística S.A. [Member]
Current Assets	92,816	76,021
Non-current Assets	590,309	572,831
Total Assets	683,125	648,852
Current Liabilities	44,564	44,457
Non-current Liabilities	331,681	301,065
Equity	306,880	303,330
Total Equity and liabilities	683,125	648,852
Revenues	130,720	107,722
Expenses	(132,538)	(98,642)
Profit or loss (continuing operations)	(1,818)	9,080
Other comprehensive income	5,850	7,385
Total comprehensive income	4,032	16,465
Dividends	0	0
Inversiones Puerto Corone S.A. [Member]
Current Assets	29	29
Non-current Assets	97,072	88,936
Total Assets	97,101	88,965
Current Liabilities	82	82
Non-current Liabilities	0	0
Equity	97,019	88,883
Total Equity and liabilities	97,101	88,965
Revenues	4,741	3,072
Expenses	0	0
Profit or loss (continuing operations)	4,741	3,072
Other comprehensive income		(29)
Total comprehensive income	4,741	3,043
Dividends	0	0
Serv.Corporativos Sercor S.A. [Member]
Current Assets	4,296	4,608
Non-current Assets	769	668
Total Assets	5,065	5,276
Current Liabilities	3,219	3,412
Non-current Liabilities	871	912
Equity	975	952
Total Equity and liabilities	5,065	5,276
Revenues	5,211	4,591
Expenses	(5,246)	(4,587)
Profit or loss (continuing operations)	(35)	4
Other comprehensive income	0	0
Total comprehensive income	(35)	4
Dividends	0	0
Stora Enso Arapoti Ind.de Papel S.A [Member]
Current Assets	0	0
Non-current Assets	0	0
Total Assets	0	0
Current Liabilities	0	0
Non-current Liabilities	0	0
Equity	0	0
Total Equity and liabilities	0	0
Revenues	0	492
Expenses	0	(6,320)
Profit or loss (continuing operations)	0	(5,828)
Other comprehensive income	0	0
Total comprehensive income	0	(5,828)
Dividends	0	0
Vale do corisco S.A. [Member]
Current Assets	6,384	24,972
Non-current Assets	126,215	415,083
Total Assets	132,599	440,055
Current Liabilities	123	3,446
Non-current Liabilities	32,636	109,079
Equity	99,840	327,530
Total Equity and liabilities	132,599	440,055
Revenues	34,449	44,822
Expenses	(29,648)	(15,238)
Profit or loss (continuing operations)	4,801	29,584
Other comprehensive income	95,039	0
Total comprehensive income	99,840	29,584
Dividends	0	1,420
Consorcio Tecnológico Bioenercel S.A. [Member]
Current Assets	5	6
Non-current Assets	45	153
Total Assets	50	159
Current Liabilities	0	0
Non-current Liabilities	5	6
Equity	45	153
Total Equity and liabilities	50	159
Revenues	2	33
Expenses	(10)	(147)
Profit or loss (continuing operations)	(8)	(114)
Other comprehensive income	0	0
Total comprehensive income	(8)	(114)
Dividends	0	0
Genómica Forestal S.A. [Member]
Current Assets	25	26
Non-current Assets	24	63
Total Assets	49	89
Current Liabilities	14	9
Non-current Liabilities	50	85
Equity	(15)	(5)
Total Equity and liabilities	49	89
Revenues	30	94
Expenses	(36)	(100)
Profit or loss (continuing operations)	(6)	(6)
Other comprehensive income	0	0
Total comprehensive income	(6)	(6)
Dividends	$ 0	$ 0

XML

INVESTMENTS IN ASSOCIATES (Details 2) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Opening balance		$ 446,548	$ 264,812
Changes
Investment in joint ventures, Additions		0	153,135
Disposals, Investments in associates and joint ventures		0	(14,510)
Share of profit (loss) in investment in associates		4,855	16,349
Share of profit (loss) in investment in joint ventures		12,162	7,590
Dividends Received, Investments in Associates		(8,586)	(5,320)
Increase (Decrease) in foreign exchange currency on translation of Associates and Joint Ventures		22,726	20,634
Other increase (decrease) in investment and associates and joint ventures	[1]	(108,933)	3,858
Total changes		(77,776)	181,736
Ending balance		368,772	446,548
Carrying amount of associates accounted for using equity method				$ 158,772	$ 265,775	$ 241,140
Carrying amount of joint ventures accounted for using equity method				209,805	180,773	23,672
Total investment accounted for using equity method		$ 368,772	$ 446,548	$ 368,772	$ 446,548	$ 264,812

[1] In May 2017, Arauco's associate Florestal Vale do Corisco S.A. performed a return of capital to its shareholders. This transaction did not generate effects in the Consolidated Statements of Profit or Loss nor modified Arauco's shareholding in Florestal Vale do Corisco S.A.

XML

INVESTMENTS IN ASSOCIATES (Details Textual) $ in Thousands	1 Months Ended
	Mar. 31, 2016 USD ($)
Cash flows from losing control of subsidiaries or other businesses, classified as investing activities	$ 4,141
Portion of gains (losses) recognised when control of subsidiary is lost, attributable to recognising investment retained in former subsidiary	$ 10,369

XML

INTERESTS IN JOINT ARRANGEMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current Assets	$ 2,770,363	$ 2,722,360
Non-current Assets	11,224,237	11,283,821	$ 10,983,979
Total Joint Arrangement Assets	13,994,600	14,006,181	13,670,391
Current Liabilities	1,399,394	1,346,064
Non-current Liabilities	5,478,313	5,660,834
Equity	7,116,893	6,999,283	6,646,445	$ 6,814,736
Total Joint Arrangement Liabilities	13,994,600	14,006,181
Income	5,238,341	4,761,385	5,146,740
Expenses	(167,478)	(125,034)
Joint Arrangement Net Income (Loss)	270,352	217,577	$ 367,711
Celulosa y Energia Punta Pereira S.A. [Member]
Current Assets	202,669	173,258
Non-current Assets	2,076,255	2,131,266
Total Joint Arrangement Assets	2,278,924	2,304,524
Investment Assets	753,132	693,006
Current Liabilities	186,626	182,834
Non-current Liabilities	586,034	735,679
Equity	1,506,264	1,386,011
Total Joint Arrangement Liabilities	2,278,924	2,304,524
Income	768,508	680,819
Expenses	(650,174)	(618,387)
Joint Arrangement Net Income (Loss)	118,334	62,432
Forestal Cono Sur S.A. [Member]
Current Assets	33,012	23,745
Non-current Assets	174,943	178,236
Total Joint Arrangement Assets	207,955	201,981
Investment Assets	91,530	89,781
Current Liabilities	22,582	21,039
Non-current Liabilities	2,314	1,381
Equity	183,059	179,561
Total Joint Arrangement Liabilities	207,955	201,981
Income	15,113	8,443
Expenses	(9,926)	(2,876)
Joint Arrangement Net Income (Loss)	5,187	5,567
Eufores S.A. [Member]
Current Assets	183,175	178,644
Non-current Assets	612,187	604,736
Total Joint Arrangement Assets	795,362	783,380
Investment Assets	303,558	279,902
Current Liabilities	180,298	200,525
Non-current Liabilities	7,948	23,052
Equity	607,116	559,803
Total Joint Arrangement Liabilities	795,362	783,380
Income	336,705	296,927
Expenses	(286,616)	(280,054)
Joint Arrangement Net Income (Loss)	50,089	16,873
Zona Franca Punta Pereira S.A. [Member]
Current Assets	6,105	4,397
Non-current Assets	483,884	492,815
Total Joint Arrangement Assets	489,989	497,212
Investment Assets	174,788	175,930
Current Liabilities	97,233	82,331
Non-current Liabilities	43,180	63,021
Equity	349,576	351,860
Total Joint Arrangement Liabilities	489,989	497,212
Income	22,129	31,042
Expenses	(24,413)	(25,966)
Joint Arrangement Net Income (Loss)	$ (2,284)	$ 5,076

XML

INTERESTS IN JOINT ARRANGEMENTS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current Assets	$ 2,770,363	$ 2,722,360
Non-current Assets	11,224,237	11,283,821	$ 10,983,979
Total Joint Arrangement Assets	13,994,600	14,006,181	13,670,391
Current Liabilities	1,399,394	1,346,064
Non-current Liabilities	5,478,313	5,660,834
Equity	7,116,893	6,999,283	6,646,445	$ 6,814,736
Total Joint Arrangement Liabilities	13,994,600	14,006,181
Income	5,238,341	4,761,385	5,146,740
Expenses	(167,478)	(125,034)
Joint Arrangement Net Income (Loss)	270,352	217,577	367,711
Other comprehensive income	24,023	226,188	(389,145)
Comprehensive income	294,375	443,765	$ (21,434)
Dividends	(8,586)	(5,320)
Unilin Arauco Pisos Ltda. [Member]
Current Assets	7,270	7,900
Non-current Assets	5,535	5,094
Total Joint Arrangement Assets	12,805	12,994
Investment Assets	4,158	4,714
Current Liabilities	4,461	3,549
Non-current Liabilities	28	18
Equity	8,316	9,427
Total Joint Arrangement Liabilities	12,805	12,994
Income	17,910	1,305
Expenses	(18,736)	(1,974)
Joint Arrangement Net Income (Loss)	(826)	(669)
Other comprehensive income	0	0
Comprehensive income	(826)	(669)
Dividends	0	0
Eka Chile S.A [Member]
Current Assets	18,876	15,817
Non-current Assets	32,040	31,690
Total Joint Arrangement Assets	50,916	47,507
Investment Assets	20,237	19,069
Current Liabilities	5,388	4,348
Non-current Liabilities	5,054	5,021
Equity	40,474	38,138
Total Joint Arrangement Liabilities	50,916	47,507
Income	43,678	48,276
Expenses	(40,111)	(44,045)
Joint Arrangement Net Income (Loss)	3,567	4,231
Other comprehensive income	0	0
Comprehensive income	3,567	4,231
Dividends	0	0
Sonae Arauco S.A. [Member]
Current Assets	265,578	223,145
Non-current Assets	664,689	616,467
Total Joint Arrangement Assets	930,267	839,612
Net assets	151,920	120,800
Net asset adjustment (Goodwill)	33,491	36,190
Investment Assets	185,411	156,990
Current Liabilities	235,676	213,228
Non-current Liabilities	323,770	312,404
Equity	370,821	313,980
Total Joint Arrangement Liabilities	930,267	839,612
Income	976,936	507,179
Expenses	(954,979)	(495,560)
Joint Arrangement Net Income (Loss)	21,957	11,619
Other comprehensive income	0	0
Comprehensive income	21,957	11,619
Dividends	$ 0	$ 0

XML

INTERESTS IN JOINT ARRANGEMENTS (Details Textual)	1 Months Ended		12 Months Ended
	May 31, 2016 USD ($)	May 31, 2016 EUR (€)	Dec. 31, 2017 USD ($)
Disclosure Of Interests In Joint Arrangements [Line Items]
Acquisitions through business combinations, intangible assets and goodwill			$ 320,000
Percentage of production acquired under joint operation			100.00%
Unilin arauco pisos laminados ltda [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Proportion of ownership interest in joint venture			50.00%
Eka Chile S.A [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Proportion of ownership interest in joint venture			50.00%
Mdf [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Production capacity	1.4	1.4
Particle boards [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Production capacity	2.1	2.1
Osb [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Production capacity	486,000	486,000
sawn timber [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Production capacity	50,000	50,000
Spain [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Number of plants acquired	2	2
Portugal [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Number of plants acquired	2	2
Germany [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Number of plants acquired	4	4
South Africa [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Number of plants acquired	2	2
Tableros de Fibras S.A [Member]
Disclosure Of Interests In Joint Arrangements [Line Items]
Percentage of voting equity interests acquired	50.00%	50.00%
Consideration paid (received)	$ 153,135	€ 137,500,000
Acquisitions through business combinations, intangible assets and goodwill	$ 36,190

XML

IMPAIRMENT OF ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of impairment loss and reversal of impairment loss [line items]
Principal classes of Assets affected by Impairment and Reversal of Losses	Machinery and Equipment
Principal Facts and Circumstances that lead to Recognizing Impairment and Reversal of losses	Technical Obsolescence and Claim
Information relevant to the sum of all impairment	$ 17,396	$ 7,993

XML

IMPAIRMENT OF ASSETS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of impairment loss and reversal of impairment loss [abstract]
Opening balance at January 1	$ 74,893	$ 69,475
Impairment	(4,640)	0
Increase (decrease) in foreign currency exchange	(331)	5,418
Closing balance at December 31, 2017	$ 69,922	$ 74,893

XML

IMPAIRMENT OF ASSETS (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 24, 2012	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Impairment Assets [Line Items]
Goodwill		$ 69,922	$ 74,893	$ 69,475
Acquisitions through business combinations, intangible assets and goodwill		320
Impairment loss recognised in profit or loss, goodwill		(4,640)	0
Pien plant [Member]
Disclosure Of Impairment Assets [Line Items]
Acquisitions through business combinations, intangible assets and goodwill		$ 27,266	32,385
Discount rate used in current estimate of value in use		7.00%
Description of projected cash flow term		5 years
Flakeboard [Member]
Disclosure Of Impairment Assets [Line Items]
Acquisitions through business combinations, intangible assets and goodwill		$ 39,841	$ 39,694
Consideration paid (received)	$ 242,502
Percentage of voting equity interests acquired	100.00%
Discount rate used in current estimate of value in use		6.70%
Description of projected cash flow term		5 years

XML

PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Provisions, Current	$ 2,728	$ 842
Provisions, non-Current	36,008	38,138
Total Provisions	38,736	38,980
Litigations [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Provisions, Current	616	427
Provisions, non-Current	12,556	14,696
Other Provisions [member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Provisions, Current	2,112	415
Provisions, non-Current	$ 23,452	$ 23,442

XML

PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES (Details 1) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Opening balance		$ 38,980		$ 35,399		$ 67,064
Changes in provisions
Increase in existing provisions		1,330		5,364		3,984
Increase through business combinations		2,106
Used provisions		(1,578)		(1,037)		(2,990)
Increase (decrease) in foreign currency exchange		(1,493)		(609)		(5,163)
Other Increases (Decreases)		(609)		(137)		(27,496)
Total Changes		(244)		3,581		(31,665)
Closing balance		38,736		38,980		35,399
Litigations [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Opening balance		15,123	[1],[2]	11,400	[1],[3]	16,038	[3]
Changes in provisions
Increase in existing provisions		1,314	[2]	5,363	[1]	2,555	[3]
Increase through business combinations	[2]	0
Used provisions		(1,578)	[2]	(998)	[1]	(2,990)	[3]
Increase (decrease) in foreign currency exchange		(1,493)	[2]	(609)	[1]	(5,163)	[3]
Other Increases (Decreases)		(193)	[2]	(33)	[1]	960	[3]
Total Changes		(1,950)	[2]	3,723	[1]	(4,638)	[3]
Closing balance		13,173	[2]	15,123	[1],[2]	11,400	[1],[3]
Other Provisions [member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Opening balance		23,857	[4],[5]	23,999	[4],[6]	51,026	[6]
Changes in provisions
Increase in existing provisions		16	[5]	1	[4]	1,429	[6]
Increase through business combinations	[5]	2,106
Used provisions		0	[5]	(39)	[4]	0	[6]
Increase (decrease) in foreign currency exchange		0	[5]	0	[4]	0	[6]
Other Increases (Decreases)		(416)	[5]	(104)	[4]	(28,456)	[6]
Total Changes		1,706	[5]	(142)	[4]	(27,027)	[6]
Closing balance		$ 25,563	[5]	$ 23,857	[4],[5]	$ 23,999	[4],[6]

[1] The increase in legal claims is composed mainly of ThU.S.$ 863 and ThU.S.$ 2,255 (Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits , and ThU.S.$1,490 from Arauco Argentina in connection of fees in lawsuits.

[2] The increase in legal claims is composed mainly of ThU.S.$908 and ThU.S.$375 Brazilian and Argentine subsidiaries respectively) in connection with civil and labor lawsuits .

[3] The increase in legal claims is composed mainly of ThU.S.$1,558 from Brazilian subsidiaries in connection with civil and labor lawsuits, being the latter the most important. In addition there are ThU.S.$840 from Arauco Argentina in connection with labor lawsuits.

[4] The change in Other Increases (Decreases) in Other provisions is due to a reverse of the ThU.S.$ 100 corresponding to Arauco Argentina.

[5] The change in Other Increases (Decreases) in Other provisions is due to a reverse of the provision in Zona Franca Punta Pereira (Uruguay). The increase through business combination corresponds to the acquisition of Arauco Industrias de Paineis.

[6] The increase of Other Provisions comprises mainly an increase of ThU.S.$1,429 from Arauco Argentina for export duties. While in the Other Increases (Decreases), line item, the reverse of Negative Equity to Arauco Forest Brasil over Novo Oeste by ThU.S.$ 25,290 and Forestal Cholguán over Sercor is reflected by ThU.S.$2,850.

XML

PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES (Details Textual)	1 Months Ended	12 Months Ended						72 Months Ended	84 Months Ended
	Aug. 24, 2017	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CLP ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2007 USD ($)	Dec. 31, 2000	Dec. 31, 2006	Dec. 31, 2006	Dec. 31, 2017 CLP ($)	Dec. 31, 2017 BRL (R$)
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Deferred Tax Liabilities, Net		$ 1,663,983,000		$ 1,782,834,000
Explanation of general nature of dispute and of reason for non-disclosure of information regarding contingent liability		The plaintiffs seek to be compensated for alleged damages that they had from the aforementioned event, including loss of profits, pain and suffering and an alleged contractual liability, for a total of $2,695,560,000 (equal to ThU.S.$4,824 as of December 31, 2017).	The plaintiffs seek to be compensated for alleged damages that they had from the aforementioned event, including loss of profits, pain and suffering and an alleged contractual liability, for a total of $2,695,560,000 (equal to ThU.S.$4,824 as of December 31, 2017).
Claim payable on litigation		$ 8,000	$ 5,000,000
Penalty levied by sma		219,000
Expenses disallowed		22,409,000	417,908,207			$ 250,000,000
Noncurrent noncash assets pledged as collateral against federal administrative disputes		33,976,000								$ 633,616,741
Estimated tax liability		47,818,000	891,758,132
Deferred tax liability paid		13,626,000	248,503,504
Area of land afforested							4,777 hectares		23,012 hectares
Capacity of plant									250,000 m3
Additional area of land afforested								8,089 hectares
Fund for export duties payable		23,440,000								437,149,340
Receivables from taxes other than income tax		6,555,207
Required collateral value		14,827,000								$ 276,508,024
Civil lawsuits payable		908,000		863,000
Labour lawsuits payable		$ 375,000		2,255,000	$ 840,000
Fee in lawsuits payable				1,490,000
Civil and labour lawsuits payable					1,558,000
Increase decrease in other provision for export duty					1,429,000
Annual Tax Units		239								239	239
Revised claim payable on litigation		$ 16,000								$ 10,000,000
Increase (decrease) in other provisions		(244,000)		$ 3,581,000	(31,665,000)
Valdivia plant [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Penalty levied by sma		$ 7,131,000
Annual Tax Units		7,777								7,777	7,777
Licancel Plant [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Annual Tax Units		177		234						177	177
Revised penalty levied by sma regarding charge 2		$ 215,000
Percentage of concession given on penalty levied		25.00%								25.00%	25.00%
Concession given on penalty levied in terms of annual tax units		136.5								136.5	136.5
Concession given on penalty levied		$ 125,000
Arauco forest brasil [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Increase decrease in other provision for reverse of negative equity					25,290,000
Forestal cholguan [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Increase decrease in other provision for reverse of negative equity					$ 2,850,000
Arauco do Brasil S.A. [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Estimated tax liabilities		49,572									R$ 164,159,000
Estimated tax liabilities after considering special remedy		17,297									R$ 57,278,771
Forestal Arauco S.A. [Member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Value of litigation against company		6,837	4,203,216,164
Litigation payable for general damage		187	115,026,673
Litigation payable for loss of profit		989	607,849,413
Percentage of sale of hereditary rights in real estate property which is under litigation proceedings	87.50%
Area of real estate property which is under litigation proceedings	5,144.22 hectares
Tax contingent liability [member]
Disclosure Of PROVISIONS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES [Line Items]
Deferred Tax Liabilities, Net		7,436								$ 4,571,664,617
Discount allowed on tax payable		1,967	1,209,399,164
Deferred tax liabilities after discount		$ 5,469	$ 3,362,265,453

XML

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Intangible Assets Explanatory [Line Items]
Intangible assets, net	$ 88,615	$ 89,497
Classes of intangible Assets, Gross	173,426	159,025
Classes of accumulated amortization and impairment
Accumulated Amortization and Impairment	(84,811)	(69,528)
Computer software [member]
Disclosure of Intangible Assets Explanatory [Line Items]
Intangible assets, net	26,747	26,370
Classes of intangible Assets, Gross	81,907	72,008
Classes of accumulated amortization and impairment
Accumulated Amortization and Impairment	(55,160)	(45,638)
Water rights [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Intangible assets, net	5,697	5,689
Classes of intangible Assets, Gross	5,697	5,689
Customer [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Intangible assets, net	47,144	50,982
Classes of intangible Assets, Gross	72,685	71,275
Classes of accumulated amortization and impairment
Accumulated Amortization and Impairment	(25,541)	(20,293)
Other identifiable intangible assets [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Intangible assets, net	9,027	6,456
Classes of intangible Assets, Gross	13,137	10,053
Classes of accumulated amortization and impairment
Accumulated Amortization and Impairment	$ (4,110)	$ (3,597)

XML

INTANGIBLE ASSETS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure of Intangible Assets Explanatory [Line Items]
Opening Balance	$ 89,497	$ 88,112
Changes
Additions	10,468	14,857
Additions through business combination	320
Disposals	(181)	(1)
Amortization	(13,327)	(14,552)
Increase (Decrease) related to foreign currency translation	1,736	706
Other Increases (Decreases)	102	375
Changes Total	(882)	1,385
Closing Balance	88,615	89,497
Computer software [member]
Disclosure of Intangible Assets Explanatory [Line Items]
Opening Balance	26,370	21,251
Changes
Additions	7,487	12,935
Additions through business combination	320
Disposals	(181)	(1)
Amortization	(8,122)	(8,368)
Increase (Decrease) related to foreign currency translation	873	178
Other Increases (Decreases)	0	375
Changes Total	377	5,119
Closing Balance	26,747	26,370
Water rights [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Opening Balance	5,689	5,485
Changes
Additions	8	204
Additions through business combination	0
Disposals	0	0
Amortization	0	0
Increase (Decrease) related to foreign currency translation	0	0
Other Increases (Decreases)	0	0
Changes Total	8	204
Closing Balance	5,697	5,689
Customer [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Opening Balance	50,982	55,265
Changes
Additions	0	0
Additions through business combination	0
Disposals	0	0
Amortization	(4,797)	(4,770)
Increase (Decrease) related to foreign currency translation	959	487
Other Increases (Decreases)	0	0
Changes Total	(3,838)	(4,283)
Closing Balance	47,144	50,982
Other [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Opening Balance	6,456	6,111
Changes
Additions	2,973	1,718
Additions through business combination	0
Disposals	0	0
Amortization	(408)	(1,414)
Increase (Decrease) related to foreign currency translation	(96)	41
Other Increases (Decreases)	102	0
Changes Total	2,571	345
Closing Balance	$ 9,027	$ 6,456

XML

INTANGIBLE ASSETS (Details 2)	12 Months Ended
	Dec. 31, 2017
Customer [Member]
Disclosure of Intangible Assets Explanatory [Line Items]
Years of Useful life (Average)	15 years
Brand names [member]
Disclosure of Intangible Assets Explanatory [Line Items]
Years of Useful life (Average)	7

XML

BIOLOGICAL ASSETS (Details)	12 Months Ended
	Dec. 31, 2017
Chile [Member] | Pine [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	24
Chile [Member] | Eucalyptus [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	12
Argentina [Member] | Pine [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	15
Argentina [Member] | Eucalyptus [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	10
Uruguay [Member] | Pine [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	-
Uruguay [Member] | Eucalyptus [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	10
Brazil [Member] | Pine [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	15
Brazil [Member] | Eucalyptus [Member]
Disclosure Of Biological Assets [Line Items]
Useful lives or depreciation rates, biological assets, at cost	7

XML

BIOLOGICAL ASSETS (Details 1)	Dec. 31, 2017
Disclosure Of Biological Assets [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	5.00%
Discount rate [Member]
Disclosure Of Biological Assets [Line Items]
Discount rate used in current measurement of fair value less costs of disposal	(0.50%)

XML

BIOLOGICAL ASSETS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Biological Assets [Abstract]
Current	$ 307,796	$ 306,117
Non-current	3,459,146	3,592,874
Total	$ 3,766,942	$ 3,898,991	$ 3,826,597

XML

BIOLOGICAL ASSETS (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Biological Assets [Abstract]
Opening Balance	$ 3,898,991	$ 3,826,597
Changes in Biological Assets
Additions through acquisition and costs of new plantations	182,322	137,439
Increase due to non-cash capital distribution from Vale do Corisco S.A. (see Note 15)	127,927
Sales	(5,289)	(1,351)
Harvest	(341,108)	(326,494)
Gain (losses) arising from changes in fair value less costs to sale	83,031	208,562	$ 210,479
Increases (decreases) in Foreign Currency Translation	(5,792)	69,068
Loss of forest due to fire	(173,139)	(15,193)
Other Increases (decreases)	(1)	363
Total Changes	(132,049)	72,394	(5,686)
Closing Balance	$ 3,766,942	$ 3,898,991	$ 3,826,597

XML

BIOLOGICAL ASSETS (Details Textual) $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Disclosure Of Biological Assets [Line Items]
Output of agricultural produce		20,700,000	18,700,000
Gains (losses) on change in fair value less costs to sell of biological assets for current period		$ 83,031	$ 208,562
Description of biological assets where fair value information is unreliable		The appraisal of biological assets resulted in a greater cost of the lumber sold in comparison to the real incurred cost, which is presented included in the cost of sales which as of December 31, 2017 amounted to ThU.S.$213,234 (ThU.S.$204,971 as of December 31, 2016).
Description of nature of activities of biological assets		1.7 million hectares as of December 31, 2017 out of which 1 million hectares are used for forestry planting, 431 thousand hectares are native forest, 195 thousand hectares are used for other purposes and 99 thousand hectares not yet planted.
Subsequent Event [Member]
Disclosure Of Biological Assets [Line Items]
Area of land effected by fire	72,564
Loss due to fire	$ 210
Percentage of loss in plantations	5.60%
Brazil and uruguay [Member]
Disclosure Of Biological Assets [Line Items]
Rate used to discount cash flows		8.00%
Argentina [Member]
Disclosure Of Biological Assets [Line Items]
Rate used to discount cash flows		12.00%
Chile [Member]
Disclosure Of Biological Assets [Line Items]
Rate used to discount cash flows		7.50%	8.00%

XML

ENVIRONMENTAL MATTERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Emvironmental Matters [Line Items]
Environmental disbursements	$ 115,277	$ 88,928
Commitments for disbursements in project	$ 57,690	$ 123,481
Environmental disbursement one [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Arauco Do Brasil S.A.	Arauco Do Brasil S.A.
Description of name of project	Environmental improvement studies	Environmental improvement studies
Disclosure of status of project	In process	In process
Environmental disbursements	$ 1,008	$ 285
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 48	$ 417
Estimated completion date of project	2018	2017
Environmental disbursement two [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Arauco Do Brasil S.A.	Arauco Do Brasil S.A.
Description of name of project	Environmental improvement studies	Environmental improvement studies
Disclosure of status of project	In process	In process
Environmental disbursements	$ 1,058	$ 385
Description of nature of disbursement	Expense	Expense
Detailed description of nature of disbursement	Administration expenses	Administration expenses
Commitments for disbursements in project	$ 296	$ 1,231
Estimated completion date of project	2018	2017
Environmental disbursement three [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Celulosa Arauco Y Constitucion S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Investment projects for the control and management of gas emissions from industrial process	Investment projects for the control and management of gas emissions from industrial process
Disclosure of status of project	In process	In process
Environmental disbursements	$ 5,811	$ 1,585
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 4,068	$ 1,396
Estimated completion date of project	2018	2017
Environmental disbursement four [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Celulosa Arauco Y Constitucion S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Environmental improvement studies	Investment projects for the control and management of gas emissions from industrial process
Disclosure of status of project	In process	In process
Environmental disbursements	$ 17,435	$ 476
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 20,694	$ 8,085
Estimated completion date of project	2018	2018
Environmental disbursement five [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Celulosa Arauco Y Constitucion S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Environmental improvement studies	Environmental improvement studies
Disclosure of status of project	Finished	In process
Environmental disbursements	$ 10,326	$ 611
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 0	$ 20,658
Estimated completion date of project		2017
Environmental disbursement six [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Celulosa Arauco Y Constitucion S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	Environmental improvement studies
Disclosure of status of project	In process	Finished
Environmental disbursements	$ 47,512	$ 1,271
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 17,837	$ 0
Estimated completion date of project	2018
Environmental disbursement seven [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Celulosa Arauco Y Constitucion S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Environmental improvement studies	Environmental improvement studies
Disclosure of status of project	In process	In process
Environmental disbursements	$ 26,578	$ 1,218
Description of nature of disbursement	Expense	Assets
Detailed description of nature of disbursement	Operating cost	Property, plant and equipment
Commitments for disbursements in project	$ 6,214	$ 14,736
Estimated completion date of project	2018	2018
Environmental disbursement eight [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Arauco Argentina S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Construction emisario	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants
Disclosure of status of project	In process	In process
Environmental disbursements	$ 2,312	$ 51,703
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 797	$ 64,450
Estimated completion date of project	2018	2017
Environmental disbursement nine [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Arauco Argentina S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Expansion of solid industrial waste dumpsite for management of these in the future	Environmental improvement studies
Disclosure of status of project	In process	In process
Environmental disbursements	$ 139	$ 26,990
Description of nature of disbursement	Assets	Expense
Detailed description of nature of disbursement	Property, plant and equipment	Operating cost
Commitments for disbursements in project	$ 28	$ 4,180
Estimated completion date of project	2018	2018
Environmental disbursement ten [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Arauco Argentina S.A.	Celulosa Arauco Y Constitucion S.A.
Description of name of project	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	Expansion of solid industrial waste dumpsite for management of these in the future
Disclosure of status of project	In process	Finished
Environmental disbursements	$ 19	$ 144
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 5,921	$ 0
Estimated completion date of project	2018
Environmental disbursement eleven [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Maderas Arauco S.A.	Arauco Argentina S.A
Description of name of project	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants	Construction emisario
Disclosure of status of project	In process	In process
Environmental disbursements	$ 432	$ 8
Description of nature of disbursement	Expense	Assets
Detailed description of nature of disbursement	Administration expenses	Property, plant and equipment
Commitments for disbursements in project	$ 0	$ 824
Estimated completion date of project	2018	2017
Environmental disbursement twelve [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Maderas Arauco S.A.	Arauco Argentina S.A
Description of name of project	Expansion of solid industrial waste dumpsite for management of these in the future	Expansion of solid industrial waste dumpsite for management of these in the future
Disclosure of status of project	In process	In process
Environmental disbursements	$ 1,346	$ 187
Description of nature of disbursement	Expense	Assets
Detailed description of nature of disbursement	Operating cost	Property, plant and equipment
Commitments for disbursements in project	$ 0	$ 124
Estimated completion date of project		2017
Environmental disbursement thirteen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Maderas Arauco S.A.	Arauco Argentina S.A
Description of name of project	Environmental improvement studies	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants
Disclosure of status of project	In process	In process
Environmental disbursements	$ 89	$ 183
Description of nature of disbursement	Assets	Assets
Detailed description of nature of disbursement	Property, plant and equipment	Property, plant and equipment
Commitments for disbursements in project	$ 332	$ 6,112
Estimated completion date of project		2017
Environmental disbursement fourteen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Forestal Arauco S.A.	Paneles Arauco S.A.
Description of name of project	Environmental improvement studies	Investment projects for the control and management of hazardous liquids and water energy optimization of industrial plants
Disclosure of status of project	In process	Finished
Environmental disbursements	$ 983	$ 1,332
Description of nature of disbursement	Expense	Expense
Detailed description of nature of disbursement	Administration expenses	Operating cost
Commitments for disbursements in project	$ 1,165	$ 0
Estimated completion date of project	2018
Environmental disbursement fifteen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary	Forestal los Lagos S.A.	Paneles Arauco S.A.
Description of name of project	Environmental improvement studies	Expansion of solid industrial waste dumpsite for management of these in the future
Disclosure of status of project	In process	Finished
Environmental disbursements	$ 229	$ 465
Description of nature of disbursement	Expense	Expense
Detailed description of nature of disbursement	Operating cost	Administration expenses
Commitments for disbursements in project	$ 290	$ 0
Estimated completion date of project	2018
Environmental disbursement sixteen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary		Paneles Arauco S.A.
Description of name of project		Environmental improvement studies
Disclosure of status of project		In process
Environmental disbursements		$ 1,217
Description of nature of disbursement		Assets
Detailed description of nature of disbursement		Property, plant and equipment
Commitments for disbursements in project		$ 304
Estimated completion date of project		2017
Environmental disbursement seventeen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary		Forestal Arauco S.A. (Ex-Forestal Celco S.A.)
Description of name of project		Environmental improvement studies
Disclosure of status of project		In process
Environmental disbursements		$ 643
Description of nature of disbursement		Expense
Detailed description of nature of disbursement		Administration expenses
Commitments for disbursements in project		$ 946
Estimated completion date of project		2017
Environmental disbursement eighteen [Member]
Disclosure Of Emvironmental Matters [Line Items]
Name of subsidiary		Forestal Los Lagos S.A
Description of name of project		Environmental improvement studies
Disclosure of status of project		In process
Environmental disbursements		$ 225
Description of nature of disbursement		Expense
Detailed description of nature of disbursement		Operating cost
Commitments for disbursements in project		$ 18
Estimated completion date of project		2017

XML

NON-CURRENT ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Noncurrent Assets Held For Sale [Line Items]
Property, plant and equipment	$ 7,034,299	$ 6,919,495	$ 6,896,396
Total Non-Current Assets	11,224,237	11,283,821	$ 10,983,979
Non-current assets held for sale [member]
Disclosure Of Noncurrent Assets Held For Sale [Line Items]
Land	160	160
Buildings	1,122	1,122
Property, plant and equipment	2,225	1,777
Total Non-Current Assets	$ 3,507	$ 3,059

XML

FINANCIAL INSTRUMENTS (Details) $ in Thousands, in Thousands		Dec. 31, 2017 USD ($)	Dec. 31, 2017 CLF ( )	[3]	Dec. 31, 2016 USD ($)		Dec. 31, 2016 CLF ( )	[3]	Dec. 31, 2015 USD ($)
Disclosure Of Financials Instruments [Line items]
Financial liabilities		$ 4,166,535			$ 4,454,380				$ 4,405,444
Financial liabilities, at fair value		5,198,654			5,158,789
Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities		1,244,939			1,130,679
Hedging liabilities [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		5,256
Financial assets, at fair value		5,256
Financial liabilities		5,393			87,364				$ 227,568
Financial liabilities, at fair value		5,256			87,027
Bank borrowing denominated [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		23,358			23,020
Trade receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets		709,983
Financial assets, at fair value		709,983
Financial liabilities					600,589
Financial liabilities, at fair value					600,589
Lease receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets		13,106
Financial assets, at fair value		13,106
Financial liabilities					764
Financial liabilities, at fair value					764
Other receivables [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		107,363
Financial assets, at fair value		107,363
Financial liabilities					114,530
Financial liabilities, at fair value					114,530
Receivables due from related parties [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		4,544
Financial assets, at fair value		4,544
Financial liabilities					13,462
Financial liabilities, at fair value					13,462
Other financial assets [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	[1]	58,425
Financial assets, at fair value	[1]	58,425
Financial liabilities	[1]				10,903
Financial liabilities, at fair value	[1]				10,903
Financial liabilities at fair value through profit or loss [member]
Disclosure Of Financials Instruments [Line items]
Financial assets		137
Financial assets, at fair value		137
Financial liabilities		137			336
Financial liabilities, at fair value		137			336
Financial liabilities at fair value through profit or loss [member] | Forwards [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		137
Financial assets, at fair value		137
Financial liabilities					336
Financial liabilities, at fair value					336
Financial liabilities at amortized cost [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	[2]	5,002,072
Financial assets, at fair value	[2]	5,198,654
Financial liabilities		5,002,072			5,022,725	[2]
Financial liabilities, at fair value	[2]				5,158,789
Financial liabilities at amortized cost [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		2,057,746	1,244,939
Financial assets, at fair value		2,135,893	1,333,087
Financial liabilities					2,321,980		1,130,679
Financial liabilities, at fair value					2,480,063		1,078,934
Financial liabilities at amortized cost [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		835,099
Financial assets, at fair value		870,399
Financial liabilities					891,338
Financial liabilities, at fair value		23,358			926,070
Financial liabilities at amortized cost [member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		717,346
Financial assets, at fair value		717,346
Financial liabilities					537,891
Financial liabilities, at fair value					537,891
Financial liabilities at amortized cost [member] | Payables to related parties [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		11,208
Financial assets, at fair value		11,208
Financial liabilities					3,831
Financial liabilities, at fair value					3,831
Financial liabilities at amortized cost [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		112,376
Financial assets, at fair value		107,363
Financial liabilities					113,986
Financial liabilities, at fair value		107,363			108,980
Financial liabilities at amortized cost [member] | Bank borrowing denominated [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities		23,358			23,020
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	[4]	74,849
Financial assets, at fair value	[4]	74,849
Financial liabilities	[4]				198,582
Financial liabilities, at fair value	[4]				198,582
Financial assets at fair value through profit or loss, category [member] | Mutual funds investment [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	[5]	73,170
Financial assets, at fair value	[5]	73,170
Financial liabilities	[5]				195,416
Financial liabilities, at fair value	[5]				195,416
Financial assets at fair value through profit or loss, category [member] | Derivatives [member]
Disclosure Of Financials Instruments [Line items]
Financial assets		1,679
Financial assets, at fair value		1,679
Financial liabilities					3,166
Financial liabilities, at fair value					3,166
Financial assets at fair value through profit or loss, category [member] | Agreements [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		15,426
Financial assets, at fair value		15,426
Financial liabilities					0
Financial liabilities, at fair value					0
Cash and cash equivalents, Category [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		516,716			396,837
Financial assets, at fair value		516,716
Financial liabilities					396,837
Financial liabilities, at fair value					396,837
Cash and cash equivalents, Category [Member] | Time deposits [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		292,105			247,391
Financial assets, at fair value		292,105
Financial liabilities					247,391
Financial liabilities, at fair value					247,391
Cash and cash equivalents, Category [Member] | Cash [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets		209,185
Financial assets, at fair value		209,185
Financial liabilities					149,446
Financial liabilities, at fair value					149,446
Loans and Accounts Receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets		1,351,712			1,126,182
Financial assets, at fair value		$ 1,351,712
Financial liabilities					1,126,182
Financial liabilities, at fair value					$ 1,126,182

[1] Includes guarantee fund for derivatives which correspond to the collateral under swap agreements.

[2] Financial liabilities measured at amortized cost, other than “Trade and other payables” and derivatives are presented in the consolidated statements of financial position in the line item “Other financial liabilities” as current and non-current based on their maturity.

[3] The Unidad de Fomento (“U.F.”) is a unit of account that is linked to, and is adjusted daily to reflect changes in the Chilean consumer price index.

[4] Assets measured at fair value through profit or loss other than mutual funds classified as cash equivalents, are presented in the line item “other financial assets” in the consolidated statements of financial position.

[5] Although mutual funds are measured at fair value through profit or loss for purposes of the consolidated statements of financial position mutual funds are classified as “Cash and cash equivalents” due to the are highly liquid short-term investment.

XML

FINANCIAL INSTRUMENTS (Details 1) $ in Thousands, in Thousands		Dec. 31, 2017 USD ($)	Dec. 31, 2017 CLF ( )	Dec. 31, 2016 USD ($)
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		$ 5,198,654		$ 5,158,789
Other financial assets [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value	[1]	58,425
Financial liabilities, at fair value	[1]			10,903
Other financial assets [Member] | Level 1 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		2,654
Other financial assets [Member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		55,771
Hedging liabilities [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		5,256
Financial liabilities, at fair value		5,256		87,027
Hedging liabilities [Member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		5,256
Financial liabilities at amortised cost, category [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value	[2]	5,198,654
Financial liabilities, at fair value	[2]			5,158,789
Financial liabilities at amortised cost, category [member] | Bonds issued in US dollars [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		2,135,893
Financial liabilities at amortised cost, category [member] | Bonds issued in US dollars [Member] | Level 1 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		2,135,893
Financial liabilities at amortised cost, category [member] | Bonds issued in UF [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value |	[3]		1,333,087
Financial liabilities at amortised cost, category [member] | Bonds issued in UF [Member] | Level 1 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value |	[3]		1,333,087
Financial liabilities at amortised cost, category [member] | Bank borrowings in other Currencies [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		870,399
Financial liabilities, at fair value		23,358		926,070
Financial liabilities at amortised cost, category [member] | Bank borrowings in other Currencies [Member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		23,358
Financial liabilities at amortised cost, category [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		107,363
Financial liabilities, at fair value		107,363		108,980
Financial liabilities at amortised cost, category [member] | Finance lease [Member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		107,363
Financial liabilities at amortised cost, category [member] | Bank borrowings in US dollars [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		870,399
Financial liabilities at amortised cost, category [member] | Bank borrowings in US dollars [Member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		870,399
Financial liabilities at fair value through profit or loss, category [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		137
Financial liabilities, at fair value		137		336
Financial liabilities at fair value through profit or loss, category [member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities, at fair value		137
Financial assets at fair value through profit or loss, category [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value	[4]	74,849
Financial liabilities, at fair value	[4]			198,582
Financial assets at fair value through profit or loss, category [member] | Derivatives [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		1,679
Financial liabilities, at fair value				3,166
Financial assets at fair value through profit or loss, category [member] | Derivatives [member] | Level 2 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		1,679
Financial assets at fair value through profit or loss, category [member] | Mutual funds investment [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value	[5]	73,170
Financial liabilities, at fair value	[5]			$ 195,416
Financial assets at fair value through profit or loss, category [member] | Mutual funds investment [Member] | Level 1 of fair value hierarchy [member]
Disclosure Of Financials Instruments [Line items]
Financial assets, at fair value		$ 73,170

[1] Includes guarantee fund for derivatives which correspond to the collateral under swap agreements.

[2] Financial liabilities measured at amortized cost, other than “Trade and other payables” and derivatives are presented in the consolidated statements of financial position in the line item “Other financial liabilities” as current and non-current based on their maturity.

[3] The Unidad de Fomento (“U.F.”) is a unit of account that is linked to, and is adjusted daily to reflect changes in the Chilean consumer price index.

[4] Assets measured at fair value through profit or loss other than mutual funds classified as cash equivalents, are presented in the line item “other financial assets” in the consolidated statements of financial position.

[5] Although mutual funds are measured at fair value through profit or loss for purposes of the consolidated statements of financial position mutual funds are classified as “Cash and cash equivalents” due to the are highly liquid short-term investment.

XML

FINANCIAL INSTRUMENTS (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	$ 500,344	$ 697,452
Other non-current financial liabilities	3,778,567	3,870,914
Other financial liabilities	4,278,911	4,568,366
Trade and other current payables	728,554	541,722
Trade and other non-current payables	0	0
Trade and other payables	728,554	541,722
Current financial liabilities	1,228,898	1,239,174
Non-current financial liabilities	3,778,567	3,870,914
Financial liabilities	4,166,535	4,454,380	$ 4,405,444
Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	148,778	196,001
Trade and other current payables	728,550	515,202
Current financial liabilities	877,328	711,203
Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	351,566	501,451
Trade and other current payables	4	26,520
Current financial liabilities	351,570	527,971
Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	1,455,641	2,020,484
Trade and other non-current payables	0	0
Non-current financial liabilities	1,455,641	2,020,484
Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	2,322,926	1,850,430
Trade and other non-current payables	0	0
Non-current financial liabilities	2,322,926	1,850,430
Bonds obligations [Member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	62,994	460,976
Other non-current financial liabilities	3,239,691	2,991,682
Other financial liabilities	3,302,685	3,452,658
Financial liabilities	1,244,939	1,130,679
Bonds obligations [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	28,013	51,874
Bonds obligations [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	34,981	409,102
Bonds obligations [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	1,054,926	1,233,603
Bonds obligations [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	2,184,765	1,758,079
Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	392,872	195,623
Other non-current financial liabilities	465,585	718,735
Other financial liabilities	858,457	914,358
Bank Borrowings [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	110,700	134,140
Bank Borrowings [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	282,172	61,483
Bank Borrowings [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	327,424	626,384
Bank Borrowings [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	138,161	92,351
Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	717,346	537,891
Trade and other non-current payables	0	0
Trade and other payables	717,346	537,891
Trade and other payables [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	717,342	511,371
Trade and other payables [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	4	26,520
Trade and other payables [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Trade and other non-current payables	0	0
Trade and other payables [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Trade and other non-current payables	0	0
Accounts payable to related companies [Member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	11,208	3,831
Trade and other non-current payables	0	0
Trade and other payables	11,208	3,831
Accounts payable to related companies [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	11,208	3,831
Accounts payable to related companies [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Trade and other current payables	0	0
Accounts payable to related companies [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Trade and other non-current payables	0	0
Accounts payable to related companies [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Trade and other non-current payables	0	0
Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	44,341	40,400
Other non-current financial liabilities	68,035	73,586
Other financial liabilities	112,376	113,986
Finance lease [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	9,928	9,534
Finance lease [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	34,413	30,866
Finance lease [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	68,035	73,586
Finance lease [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	0	0
Swap and forward [Member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	137	453
Other non-current financial liabilities	5,256	86,911
Other financial liabilities	5,393	87,364
Swap and forward [Member] | Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	137	453
Swap and forward [Member] | Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Other current financial liabilities	0	0
Swap and forward [Member] | Later than one year and not later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	5,256	86,911
Swap and forward [Member] | Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Other non-current financial liabilities	$ 0	$ 0

XML

FINANCIAL INSTRUMENTS (Details 3) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Derivative financial assets		$ 1,679	$ 3,166
Hedging instrument, assets		55,771	8,658
Hedging instrument, liabilities		(5,256)	(87,027)
Derivative financial liabilities		(137)	(336)
Cross currency swap liability [Member]
Disclosure Of Financials Instruments [Line items]
Hedging instrument, liabilities		(5,248)	(86,895)
Cross currency swap [Member]
Disclosure Of Financials Instruments [Line items]
Hedging instrument, assets		52,734	6,629
Uruguay [Member] | Derivative contracts [Member]
Disclosure Of Financials Instruments [Line items]
Hedging instrument, liabilities	[1]	(8)	(132)
Derivative financial liabilities	[1]	0	(69)
Uruguay [Member] | Derivatives [member]
Disclosure Of Financials Instruments [Line items]
Derivative financial assets	[1]	1,672	3,159
Hedging instrument, assets	[1]	3,037	2,029
Colombia [Member] | Forward Contract liability [Member]
Disclosure Of Financials Instruments [Line items]
Derivative financial liabilities		(137)	(267)
Colombia [Member] | Forward contract [member]
Disclosure Of Financials Instruments [Line items]
Derivative financial assets		$ 7	$ 7

[1] Includes Swap and Forward from Uruguay tables.

XML

FINANCIAL INSTRUMENTS (Details 4)	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CLF ( )	Dec. 31, 2016 USD ($)
Disclosure Of Financials Instruments [Line items]
Starting date of Hedging instrument	Oct. 30, 2014
Net derivative financial liabilities	$ 1,756,000		$ 3,039,000
Bonds S [Member]
Disclosure Of Financials Instruments [Line items]
Starting date of Hedging instrument	Nov. 15, 2016
Maturity date of hedging instrument	Nov. 15, 2026
Bond F One [Member]
Disclosure Of Financials Instruments [Line items]
Starting date of Hedging instrument	Oct. 30, 2011
Maturity date of hedging instrument	Oct. 30, 2021
Cross currency swap contract [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	Deutsche - U.K.
Value of hedging instrument	$ 43,618,307	1,000,000
Net derivative financial liabilities	$ 6,599,000		1,782,000
Cross currency swap contract [Member] | Bonds S [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	Santander - Chile
Net derivative financial liabilities	$ 12,035,000		(3,165,000)
Cross currency swap contract [Member] | Bond F One [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	Deutsche - U.K.
Value of hedging instrument	$ 43,618,307	1,000,000
Net derivative financial liabilities	213,000		$ (4,703,000)
US dollars [Member] | Cross currency swap contract [Member]
Disclosure Of Financials Instruments [Line items]
Value of hedging instrument	37,977,065
US dollars [Member] | Cross currency swap contract [Member] | Bonds S [Member]
Disclosure Of Financials Instruments [Line items]
Value of hedging instrument	$ 201,340,031
Unidad de Fomento [Member] | Cross currency swap contract [Member]
Disclosure Of Financials Instruments [Line items]
Value of hedging instrument |		1,000,000
Unidad de Fomento [Member] | Cross currency swap contract [Member] | Bonds S [Member]
Disclosure Of Financials Instruments [Line items]
Value of hedging instrument |		5,000,000

XML

FINANCIAL INSTRUMENTS (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Starting date of Hedging instrument	Oct. 30, 2014
Net derivative financial liabilities	$ 1,756	$ 3,039
Colombia [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	BBVA Colombia	Institution
Starting date of Hedging instrument	Oct. 30, 2017	Oct. 28, 2016
Maturity date of hedging instrument	Jan. 10, 2018	Jan. 11, 2017
Net derivative financial liabilities	$ (1)	$ 7
Value of hedging instrument	$ 6,000	$ 5,000
Description of exchange rate translation	USDCOP	Exchange rate
Colombia [Member] | Forward contract [member]
Disclosure Of Financials Instruments [Line items]
Net derivative financial liabilities	$ (130)	$ (260)

XML

FINANCIAL INSTRUMENTS (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Net derivative financial liabilities	$ 1,756	$ 3,039
Uruguay [Member] | Forward contract One [Member]
Disclosure Of Financials Instruments [Line items]
Description of exchange rate translation	UYUUSD	UYUUSD
Name of the institution	Banco Santander Uy	Banco Santander Uy
Nominal amount of hedging instrument	$ 24,000	$ 16,600
Net derivative financial liabilities	$ 1,213	$ 1,633
Uruguay [Member] | Forward contract Two [Member]
Disclosure Of Financials Instruments [Line items]
Description of exchange rate translation	UYUUSD	UYUUSD
Name of the institution	HSBC Uruguay	Citibank U.K.
Nominal amount of hedging instrument	$ 9,000	$ 3,200
Net derivative financial liabilities	$ 543	$ 150
Uruguay [Member] | Forward contract Three [Member]
Disclosure Of Financials Instruments [Line items]
Description of exchange rate translation		UYUUSD
Name of the institution		HSBC Uruguay
Nominal amount of hedging instrument		$ 10,750
Net derivative financial liabilities		$ 1,256

XML

FINANCIAL INSTRUMENTS (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Hedging instrument, liabilities	$ (5,256)	$ (87,027)
Uruguay [Member] | Commodity contracts [Member]
Disclosure Of Financials Instruments [Line items]
Hedging instrument, liabilities	$ 2,216	$ 1,298
Uruguay [Member] | Commodity contracts [Member] | Fuel oil No.6 One [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	JPMorgan Chase Bank, N.A.	JPMorgan Chase Bank, N.A.
Nominal Amounts Of Hedging Instrument	$ 4,760	$ 5,508
Hedging instrument, liabilities	$ 1,372	$ 1,059
Uruguay [Member] | Commodity contracts [Member] | Fuel oil No.6 Two [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	DNB Bank ASA	DNB Bank ASA
Nominal Amounts Of Hedging Instrument	$ 4,002	$ 2,661
Hedging instrument, liabilities	$ 732	$ 156
Uruguay [Member] | Commodity contracts [Member] | Fuel oil No.6 Three [Member]
Disclosure Of Financials Instruments [Line items]
Name of the institution	Citibank U.K.	Citibank U.K.
Nominal Amounts Of Hedging Instrument	$ 761	$ 378
Hedging instrument, liabilities	$ 112	$ 83

XML

FINANCIAL INSTRUMENTS (Details 8) - Interest rate swap contract [member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Description of exchange rate translation	USD	USD
Name of the institution	DNB Bank ASA	DNB Bank ASA
Nominal Amounts Of Hedging Instrument	$ 50,638	$ 59,077
Other financial assets	$ 729	$ 650

XML

FINANCIAL INSTRUMENTS (Details 9) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Trade receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	$ 709,983
Lease receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	13,106
Other receivables [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	107,363
Cash and cash equivalents, Category [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	516,716	$ 396,837
Cash and cash equivalents, Category [Member] | Time deposits [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	292,105	247,391
Cash and cash equivalents, Category [Member] | Cash [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	209,185	149,446
Cash and cash equivalents, Category [Member] | Agreements
Disclosure Of Financials Instruments [Line items]
Financial assets	15,426	0
Trade and other receivables, category [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	834,996	729,345
Trade and other receivables, category [Member] | Trade receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	709,983	600,589
Trade and other receivables, category [Member] | Lease receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	13,106	764
Trade and other receivables, category [Member] | Other receivables [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets	107,363	114,530
Trade and other receivables, category [Member] | Accounts receivable due from related parties
Disclosure Of Financials Instruments [Line items]
Financial assets	4,544	13,462
Loans and Accounts Receivables [member]
Disclosure Of Financials Instruments [Line items]
Financial assets	$ 1,351,712	$ 1,126,182

XML

FINANCIAL INSTRUMENTS (Details 10) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Financials Instruments [Line items]
Cash and cash equivalents	$ 589,886	$ 592,253	$ 500,025	$ 971,152
U.S Dollar [Member]
Disclosure Of Financials Instruments [Line items]
Cash and cash equivalents	501,352	524,426
Euro [Member]
Disclosure Of Financials Instruments [Line items]
Cash and cash equivalents	4,306	2,357
Other currencies [Member]
Disclosure Of Financials Instruments [Line items]
Cash and cash equivalents	3,685	3,327
Chilean Pesos [Member]
Disclosure Of Financials Instruments [Line items]
Cash and cash equivalents	$ 23,191	$ 10,401

XML

FINANCIAL INSTRUMENTS (Details 11) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	$ 814,412	$ 701,610
Accounts receivable from related parties, current	3,488	12,505
Trade and other non-current receivables	16,040	14,273
Accounts receivable from related parties, non-current	1,056	957
U.S Dollar [Member]
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	550,674	489,056
Accounts receivable from related parties, current	726	274
Trade and other non-current receivables	4,247	6,895
Euro [Member]
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	20,498	26,544
Other currencies [Member]
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	17,702	16,620
Accounts receivable from related parties, current	171	726
Trade and other non-current receivables	0	527
Chilean Pesos [Member]
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	106,442	106,681
Accounts receivable from related parties, current	2,192	10,548
Trade and other non-current receivables	6,692	5,753
Unidad de Fomento [Member]
Disclosure Of Financials Instruments [Line items]
Trades and other current receivables	2,560	1,422
Accounts receivable from related parties, current	399	957
Trade and other non-current receivables	1,756	1,098
Accounts receivable from related parties, non-current	$ 1,056	$ 957

XML

FINANCIAL INSTRUMENTS (Details 12) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Financial liabilities	$ 4,166,535	$ 4,454,380		$ 4,405,444
Hedging liabilities [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	5,393	87,364		$ 227,568
Financial liabilities at fair value through profit or loss (held for trading) [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	137	336
Financial Liabilities Measured at Amortized Cost [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	$ 5,002,072	$ 5,022,725	[1]

[1] Financial liabilities measured at amortized cost, other than “Trade and other payables” and derivatives are presented in the consolidated statements of financial position in the line item “Other financial liabilities” as current and non-current based on their maturity.

XML

FINANCIAL INSTRUMENTS (Details 13) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Current portion of non-current borrowings	$ 199,961	$ 150,534
Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Current portion of non-current borrowings	92,693	88,028
Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Current portion of non-current borrowings	$ 107,268	$ 62,506

XML

FINANCIAL INSTRUMENTS (Details 14) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Financial liabilities	$ 4,166,535	$ 4,454,380	$ 4,405,444
Financial liabilities, at fair value	5,198,654	5,158,789
Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	1,244,939	1,130,679
U.S Dollar [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	2,057,747	2,321,980
Financial liabilities, at fair value	2,135,893	2,480,063
U.S Dollar [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	834,908	891,338
Financial liabilities, at fair value	870,399	926,070
U.S Dollar [Member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	194,342	150,162
Financial liabilities, at fair value	194,342	150,162
U.S Dollar [Member] | Related party payables
Disclosure Of Financials Instruments [Line items]
Financial liabilities	1,354	1,969
Financial liabilities, at fair value	1,354	1,968
Unidad de Fomento [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	1,244,938	1,130,679
Financial liabilities, at fair value	1,333,087	1,078,934
Unidad de Fomento [Member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	22,060	18,600
Financial liabilities, at fair value	22,060	18,600
Other currencies [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	23,549	23,020
Financial liabilities, at fair value	23,358	23,020
Other currencies [Member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	158,567	70,736
Financial liabilities, at fair value	158,567	70,736
Other currencies [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	96,913	98,316
Financial liabilities, at fair value	92,542	94,052
Chilean Pesos [Member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	333,529	285,359
Financial liabilities, at fair value	333,529	285,359
Chilean Pesos [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	15,463	15,670
Financial liabilities, at fair value	14,821	14,928
Chilean Pesos [Member] | Related party payables
Disclosure Of Financials Instruments [Line items]
Financial liabilities	9,854	1,862
Financial liabilities, at fair value	9,854	1,863
Euro [Member] | Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	8,848	13,034
Financial liabilities, at fair value	$ 8,848	$ 13,034

XML

FINANCIAL INSTRUMENTS (Details 15) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Current financial liabilities at amortised cost	$ 1,228,761	$ 1,238,722
Non-current financial liabilities at amortised cost	3,773,311	3,784,003
Financial liabilities at amortised cost	5,002,072	5,022,725
Other financial liabilities [Member]
Disclosure Of Financials Instruments [Line items]
Current financial liabilities at amortised cost	500,207	697,000
Non-current financial liabilities at amortised cost	3,773,311	3,784,003
Financial liabilities at amortised cost	4,273,518	4,481,003
Trade and other payables [Member]
Disclosure Of Financials Instruments [Line items]
Current financial liabilities at amortised cost	717,346	537,891
Non-current financial liabilities at amortised cost	0	0
Financial liabilities at amortised cost	717,346	537,891
Related party payable [Member]
Disclosure Of Financials Instruments [Line items]
Current financial liabilities at amortised cost	11,208	3,831
Non-current financial liabilities at amortised cost	0	0
Financial liabilities at amortised cost	$ 11,208	$ 3,831

XML

FINANCIAL INSTRUMENTS (Details 16) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Reserve of cash flow hedges	$ 1,096	$ (55,396)	$ (53,022)
Gains (losses) on cash flow hedges	22,212	84,045	11,859
Recycle of cash flow hedges to profit or loss	16,965	10,198	16,122
Income tax	(5,917)	(20,055)	(1,738)
Recycle of income tax	4,326	2,700	3,627
Reserve of cash flow hedges	$ 4,752	$ 1,096	$ (55,396)

XML

FINANCIAL INSTRUMENTS (Details 17) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Financial liabilities	$ 4,166,535	$ 4,454,380	$ 4,405,444
Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	1,244,939	1,130,679
Syndicate loan [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	199,597	298,967
Syndicate Loan Banco Estado [Member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities	$ 130,953	$ 0

XML

FINANCIAL INSTRUMENTS (Details 18)	12 Months Ended
	Dec. 31, 2017
Local bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	-
Foreign bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	Baa3
Standard Poor [Member] | Local bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	-
Standard Poor [Member] | Foreign bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	BBB-
Fitch [Member] | Local bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	AA-
Fitch [Member] | Foreign bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	BBB
Feller [Member] | Local bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	AA-
Feller [Member] | Foreign bonds [Member]
Disclosure Of Financials Instruments [Line items]
Disclosure of credit rating	-

XML

FINANCIAL INSTRUMENTS (Details 19) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure Of Financials Instruments [Line items]
Equity	$ 7,116,893	$ 6,999,283	$ 6,646,445	$ 6,814,736
Bank borrowings	858,457	914,358
Financial leasing	112,376	113,986
Bonds issued	3,302,685	3,452,659
Capitalization	$ 11,390,411	$ 11,480,286

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FINANCIAL INSTRUMENTS (Details 20) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Trade receivables
Disclosure Of Financials Instruments [Line items]
Credit exposure	$ 706,485	$ 598,597
Trade receivables | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	715,217	609,102
Trade receivables | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	8,732	10,505
Financial lease receivables
Disclosure Of Financials Instruments [Line items]
Credit exposure	11,932	411
Financial lease receivables | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	12,033	512
Financial lease receivables | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	101	101
Other debtors
Disclosure Of Financials Instruments [Line items]
Credit exposure	95,995	102,602
Other debtors | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	101,663	108,640
Other debtors | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	5,668	6,038
Net subtotal
Disclosure Of Financials Instruments [Line items]
Credit exposure	814,412	701,610
Net subtotal | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	828,913	718,254
Net subtotal | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	14,501	16,644
Trade receivables
Disclosure Of Financials Instruments [Line items]
Credit exposure	3,498	1,992
Trade receivables | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	3,498	1,992
Trade receivables | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	0	0
Financial lease receivables
Disclosure Of Financials Instruments [Line items]
Credit exposure	1,174	353
Financial lease receivables | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	1,174	353
Financial lease receivables | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	0	0
Other debtors
Disclosure Of Financials Instruments [Line items]
Credit exposure	11,368	11,928
Other debtors | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	11,368	11,928
Other debtors | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	0	0
Net Subtotal
Disclosure Of Financials Instruments [Line items]
Credit exposure	16,040	14,273
Net Subtotal | Gross carrying amount [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	16,040	14,273
Net Subtotal | Accumulated impairment [member]
Disclosure Of Financials Instruments [Line items]
Credit exposure	$ 0	$ 0

XML

FINANCIAL INSTRUMENTS (Details 21) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 718,715	$ 611,094
Percentage of trade receivables	100.00%	100.00%
Below one month [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 39,459	$ 31,106
Percentage of trade receivables	5.50%	5.10%
Later than one month and not later than two months [member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 551	$ 257
Percentage of trade receivables	0.10%	0.00%
Later than two months and not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 955	$ 881
Percentage of trade receivables	0.10%	0.10%
Later than three months and not later than four months [member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 50	$ 39
Percentage of trade receivables	0.00%	0.00%
Later than four months and not later than five months [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 34	$ 18
Percentage of trade receivables	0.00%	0.00%
Later than five months and not later than six months [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 2,238	$ 21
Percentage of trade receivables	0.30%	0.00%
Later than six months and not later than seven months [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 56	$ 11
Percentage of trade receivables	0.00%	0.00%
Later than seven months and not later than eight months [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 97	$ 64
Percentage of trade receivables	0.00%	0.00%
Later than eight months [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 12,312	$ 14,319
Percentage of trade receivables	1.70%	2.30%
Financial assets neither past due nor impaired [member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 662,963	$ 564,378
Percentage of trade receivables	92.20%	92.40%

XML

FINANCIAL INSTRUMENTS (Details 22) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Opening balance	$ (16,644)	$ (19,860)	$ (18,520)
Impairment losses recognized on receivables	(139)	(3,950)	(3,072)
Reversal of impairment losses	2,282	7,166	1,732
Closing balance	$ (14,501)	$ (16,644)	$ (19,860)

XML

FINANCIAL INSTRUMENTS (Details 23) $ in Thousands	Dec. 31, 2017 USD ($)
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 98,732
Proportion of guarantee	100.00%
Certificate of deposits [Member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 7,106
Proportion of guarantee	7.30%
Standby
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 6,942
Proportion of guarantee	7.00%
Promissory notes one [Member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 71,961
Proportion of guarantee	72.90%
Financial guarantee contracts [member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 3,094
Proportion of guarantee	3.10%
Mortgages [Member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 6,849
Proportion of guarantee	6.90%
Pledges [Member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 2,580
Proportion of guarantee	2.60%
Promissory notes two [Member]
Disclosure Of Financials Instruments [Line items]
Provision of guarantees, Debtors	$ 200
Proportion of guarantee	0.20%

XML

FINANCIAL INSTRUMENTS (Details 24) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Trade receivables		$ 718,715	$ 611,094
Percentage of trade receivables		100.00%	100.00%
Open account customers [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables		$ 391,992
Percentage of trade receivables		100.00%
Secured receivables [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	[1]	$ 381,800
Percentage of trade receivables	[1]	97.40%
Unsecured receivables [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables		$ 10,192
Percentage of trade receivables		2.60%

[1] Insured Debt is deemed to be the portion of accounts receivable that is covered by a credit company or by guarantees such as standby letters of credit, mortgages, performance bonds, among others

XML

FINANCIAL INSTRUMENTS (Details 25) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Financials Instruments [Line items]
Short-term Debt	$ 392,872,000	$ 195,623,000
Non-current portion of non-current borrowings	465,585,000	718,735,000
Current finance lease liabilities	44,341,000	40,400,000
Non-current finance lease liabilities	$ 68,035,000	$ 73,586,000
Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 64,000	$ 195,623,000
Non-current portion of non-current borrowings	$ 277,000	$ 731,990,000
Borrowings, interest rate	10.49%	6.00%
Borrowings, Nominal interest rate		6.00%
Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Current bonds issued and current portion of non-current bonds issued	$ 62,994,000	$ 460,977,000
Non-current portion of non-current bonds issued	4,616,331,000	3,690,266,000
Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Current finance lease liabilities	44,341,000	40,400,000
Non-current finance lease liabilities	$ 68,035,000	$ 73,586,000
Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 199,597,000	$ 36,000
Non-current portion of non-current borrowings	$ 0	$ 302,242,000
Borrowings, interest rate	1.70%	1.63%
Borrowings, Nominal interest rate	0.70%	1.63%
Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Zona Franca Punta Pereira	Arauco Argentina S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 2,199,000	$ 5,031,000
Non-current portion of non-current borrowings	$ 11,398,000	$ 0
Borrowings, interest rate	3.51%	2.00%
Borrowings, Nominal interest rate	2.05%	2.00%
Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Zona Franca Punta Pereira	Arauco Argentina S.A.
Description of functional currency	U.S. Dollar	Argentine Pesos
Short-term Debt	$ 5,740,000	$ 40,000
Non-current portion of non-current borrowings	$ 11,546,000	$ 0
Borrowings, interest rate	3.26%	15.25%
Borrowings, Nominal interest rate	1.80%	15.25%
Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Zona Franca Punta Pereira	Zona Franca Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 14,007,000	$ 2,205,000
Non-current portion of non-current borrowings	$ 0	$ 13,719,000
Borrowings, interest rate	3.13%	2.05%
Borrowings, Nominal interest rate	1.75%	2.05%
Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Zona Franca Punta Pereira	Zona Franca Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 4,503,000	$ 5,772,000
Non-current portion of non-current borrowings	$ 0	$ 17,491,000
Borrowings, interest rate	3.10%	1.80%
Borrowings, Nominal interest rate	1.75%	1.80%
Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Zona Franca Punta Pereira	Zona Franca Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 2,509,000	$ 16,176,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	3.17%	3.23%
Borrowings, Nominal interest rate	3.17%	2.00%
Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Celulosa y Energia Punta Pereira	Zona Franca Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 8,884,000	$ 2,501,000
Non-current portion of non-current borrowings	$ 46,010,000	$ 0
Borrowings, interest rate	3.51%	2.95%
Borrowings, Nominal interest rate	2.05%	1.75%
Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Celulosa y Energia Punta Pereira	Zona Franca Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 23,201,000	$ 2,501,000
Non-current portion of non-current borrowings	$ 46,673,000	$ 0
Borrowings, interest rate	3.26%	1.60%
Borrowings, Nominal interest rate	1.80%	1.60%
Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Celulosa y Energia Punta Pereira	Celulosa y Energia Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 46,390,000	$ 8,911,000
Non-current portion of non-current borrowings	$ 218,382,000	$ 55,378,000
Borrowings, interest rate	3.20%	3.30%
Borrowings, Nominal interest rate	3.20%	2.05%
Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Celulosa y Energia Punta Pereira	Celulosa y Energia Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 45,000	$ 23,341,000
Non-current portion of non-current borrowings	$ 0	$ 70,705,000
Borrowings, interest rate	0.00%	3.05%
Borrowings, Nominal interest rate		1.80%
Bonds issued, undiscounted cash flows	$ 2
Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Celulosa y Energia Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 37,310,000	$ 46,248,000
Non-current portion of non-current borrowings	$ 0	$ 249,710,000
Borrowings, interest rate	3.08%	3.20%
Borrowings, Nominal interest rate	1.75%	3.20%
Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Celulosa y Energia Punta Pereira
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 6,000	$ 89,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	3.43%	2.00%
Borrowings, Nominal interest rate	2.00%	2.00%
Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Eufores S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 1,200,000	$ 37,296,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	2.91%	1.75%
Borrowings, Nominal interest rate	1.75%	1.75%
Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Eufores S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 12,517,000	$ 5,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	3.08%	2.00%
Borrowings, Nominal interest rate	1.75%	2.00%
Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Eufores S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 1,352,000	$ 1,202,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	3.03%	2.00%
Borrowings, Nominal interest rate	1.75%	2.00%
Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Eufores S.A.	Eufores S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Short-term Debt	$ 25,243,000	$ 15,138,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	3.06%	2.00%
Borrowings, Nominal interest rate	1.75%	2.00%
Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Do Brasil S.A.	Eufores S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 90,000	$ 1,351,000
Non-current portion of non-current borrowings	$ 135,000	$ 0
Borrowings, interest rate	9.50%	2.00%
Borrowings, Nominal interest rate	9.50%	2.00%
Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Do Brasil S.A.	Eufores S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 74,000	$ 22,735,000
Non-current portion of non-current borrowings	$ 229,000	$ 0
Borrowings, interest rate	10.75%	2.00%
Borrowings, Nominal interest rate	1.75%	2.00%
Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Do Brasil S.A.	Arauco Do Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 10,000	$ 25,000
Non-current portion of non-current borrowings	$ 27,000	$ 0
Borrowings, interest rate	11.00%	2.50%
Borrowings, Nominal interest rate	2.00%	2.50%
Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Do Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 1,000	$ 3,034,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	2.50%	9.50%
Borrowings, Nominal interest rate	2.50%	9.50%
Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Do Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 50,000	$ 38,000
Non-current portion of non-current borrowings	$ 4,000	$ 0
Borrowings, interest rate	3.50%	5.50%
Borrowings, Nominal interest rate	3.50%	5.50%
Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Do Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 44,000	$ 48,000
Non-current portion of non-current borrowings	$ 36,000	$ 264,000
Borrowings, interest rate	6.00%	9.34%
Borrowings, Nominal interest rate	6.00%	9.34%
Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 16,000	$ 8,000
Non-current portion of non-current borrowings	$ 728,000	$ 1,000
Borrowings, interest rate	5.00%	2.50%
Borrowings, Nominal interest rate	5.00%	2.50%
Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 87,000	$ 51,000
Non-current portion of non-current borrowings	$ 22,000	$ 55,000
Borrowings, interest rate	6.00%	3.50%
Borrowings, Nominal interest rate	6.00%	3.50%
Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 27,000	$ 44,000
Non-current portion of non-current borrowings	$ 65,000	$ 81,000
Borrowings, interest rate	10.00%	6.00%
Borrowings, Nominal interest rate	10.00%	6.00%
Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 1,888,000	$ 400,000
Non-current portion of non-current borrowings	$ 0	$ 0
Borrowings, interest rate	9.50%	8.75%
Borrowings, Nominal interest rate	9.50%	8.75%
Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Florestal Arapoti S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 16,000	$ 17,000
Non-current portion of non-current borrowings	$ 24,000	$ 738,000
Borrowings, interest rate	9.00%	5.00%
Borrowings, Nominal interest rate	9.00%	5.00%
Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 89,000	$ 29,000
Non-current portion of non-current borrowings	$ 125,000	$ 92,000
Borrowings, interest rate	9.00%	10.00%
Borrowings, Nominal interest rate	9.00%	10.00%
Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 9,000	$ 17,000
Non-current portion of non-current borrowings	$ 23,000	$ 40,000
Borrowings, interest rate	8.20%	9.00%
Borrowings, Nominal interest rate	1.80%	9.00%
Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Florestal Arapoti S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 23,000	$ 23,000
Non-current portion of non-current borrowings	$ 56,000	$ 87,000
Borrowings, interest rate	10.80%	9.22%
Borrowings, Nominal interest rate	1.80%	9.22%
Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 1,000	$ 77,000
Non-current portion of non-current borrowings	$ 0	$ 100,000
Borrowings, interest rate	2.50%	5.91%
Borrowings, Nominal interest rate	2.50%	5.91%
Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 811,000	$ 5,000
Non-current portion of non-current borrowings	$ 1,047,000	$ 32,000
Borrowings, interest rate	8.10%	7.94%
Borrowings, Nominal interest rate	2.00%	7.94%
Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 34,000	$ 12,000
Non-current portion of non-current borrowings	$ 78,000	$ 80,000
Borrowings, interest rate	7.70%	11.30%
Borrowings, Nominal interest rate	2.00%	11.30%
Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 4,000	$ 16,000
Non-current portion of non-current borrowings	$ 917,000	$ 3,000
Borrowings, interest rate	9.82%	2.50%
Borrowings, Nominal interest rate	2.91%	2.50%
Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 5,000	$ 715,000
Non-current portion of non-current borrowings	$ 289,000	$ 1,753,000
Borrowings, interest rate	7.30%	8.59%
Borrowings, Nominal interest rate	2.91%	8.59%
Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Arauco Forest Brasil S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 1,979,000	$ 136,000
Non-current portion of non-current borrowings	$ 682,000	$ 212,000
Borrowings, interest rate	8.90%	7.44%
Borrowings, Nominal interest rate	8.90%	7.44%
Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 777,000	$ 4,000
Non-current portion of non-current borrowings	$ 5,279,000	$ 920,000
Borrowings, interest rate	9.91%	9.82%
Borrowings, Nominal interest rate	2.91%	9.82%
Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 468,000	$ 4,000
Non-current portion of non-current borrowings	$ 3,168,000	$ 288,000
Borrowings, interest rate	10.91%	7.05%
Borrowings, Nominal interest rate	3.91%	7.05%
Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Arauco Forest Brasil S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 402,000	$ 33,000
Non-current portion of non-current borrowings	$ 3,734,000	$ 0
Borrowings, interest rate	7.31%	9.32%
Borrowings, Nominal interest rate	2.91%	9.32%
Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Arauco Forest Brasil S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 523,000	$ 103,000
Non-current portion of non-current borrowings	$ 3,520,000	$ 83,000
Borrowings, interest rate	12.11%	6.00%
Borrowings, Nominal interest rate	5.11%	6.00%
Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Mahal Emprendimientos Pat. S.A.
Description of functional currency	Brazilian Real	Brazilian Real
Short-term Debt	$ 0	$ 23,000
Non-current portion of non-current borrowings	$ 81,000	$ 6,060,000
Borrowings, interest rate	11.00%	8.91%
Borrowings, Nominal interest rate	2.00%	8.91%
Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Mahal Emprendimientos Pat. S.A.	Mahal Emprendimientos Pat. S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 0	$ 16,000
Non-current portion of non-current borrowings	$ 38,000	$ 3,635,000
Borrowings, interest rate	8.40%	9.91%
Borrowings, Nominal interest rate	2.00%	9.91%
Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Novo Oeste Gestao de Ativos Florestais S.A.	Mahal Emprendimientos Pat. S.A.
Description of functional currency	Brazilian Real	U.S. Dollar
Short-term Debt	$ 1,000	$ 60,000
Non-current portion of non-current borrowings	$ 84,000	$ 4,073,000
Borrowings, interest rate	11.00%	7.05%
Borrowings, Nominal interest rate	2.00%	7.05%
Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-	-
Name of subsidiary	Novo Oeste Gestao de Ativos Florestais S.A.	Mahal Emprendimientos Pat. S.A.
Description of functional currency	U.S. Dollar	Brazilian Real
Short-term Debt	$ 1,000	$ 19,000
Non-current portion of non-current borrowings	$ 39,000	$ 4,038,000
Borrowings, interest rate	8.40%	11.11%
Borrowings, Nominal interest rate	2.00%	11.11%
Bank Borrowings Fourty Six [Member]
Disclosure Of Financials Instruments [Line items]
Non-current portion of non-current borrowings	$ 157,058,000
Borrowings, interest rate	3.00%
Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	-
Name of subsidiary	Flakeboard America Ltd
Description of functional currency	U.S. Dollar
Short-term Debt	$ 675,000
Borrowings, Nominal interest rate	1.65%
Bank Borrowings Twenty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Borrowings, Nominal interest rate	10.49%
Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	4.24%	4.24%
Borrowings, Nominal interest rate	4.21%	4.21%
Current bonds issued and current portion of non-current bonds issued	$ 1,528,000	$ 1,931,000
Non-current portion of non-current bonds issued	$ 263,721,000	$ 282,037,000
Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	4.25%	3.23%
Borrowings, Nominal interest rate	4.21%	3.22%
Current bonds issued and current portion of non-current bonds issued	$ 611,000	$ 2,115,000
Non-current portion of non-current bonds issued	$ 106,308,000	$ 215,718,000
Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	3.23%	3.96%
Borrowings, Nominal interest rate	3.22%	3.96%
Current bonds issued and current portion of non-current bonds issued	$ 2,342,000	$ 996,000
Non-current portion of non-current bonds issued	$ 231,943,000	$ 273,747,000
Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	3.96%	2.96%
Borrowings, Nominal interest rate	3.96%	2.98%
Current bonds issued and current portion of non-current bonds issued	$ 1,103,000	$ 10,425,000
Non-current portion of non-current bonds issued	$ 294,408,000	$ 73,589,000
Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	2.96%	3.57%
Borrowings, Nominal interest rate	2.98%	3.57%
Current bonds issued and current portion of non-current bonds issued	$ 22,364,000	$ 1,755,000
Non-current portion of non-current bonds issued	$ 57,395,000	$ 318,660,000
Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	3.57%	2.44%
Borrowings, Nominal interest rate	3.57%	2.89%
Current bonds issued and current portion of non-current bonds issued	$ 1,944,000	$ 600,000
Non-current portion of non-current bonds issued	$ 345,336,000	$ 229,565,000
Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	-
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Arauco Argentina S.A.
Description of functional currency	U.F.	U.S. Dollar
Borrowings, interest rate	2.44%	6.39%
Borrowings, Nominal interest rate	2.89%	6.38%
Current bonds issued and current portion of non-current bonds issued	$ 650,000	$ 270,787,000
Non-current portion of non-current bonds issued	$ 251,028,000	$ 0
Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Borrowings, interest rate	7.26%	7.26%
Borrowings, Nominal interest rate	7.25%	7.25%
Current bonds issued and current portion of non-current bonds issued	$ 6,168,000	$ 15,205,000
Non-current portion of non-current bonds issued	$ 217,034,000	$ 570,504,000
Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Borrowings, interest rate	5.02%	7.50%
Borrowings, Nominal interest rate	5.00%	7.50%
Current bonds issued and current portion of non-current bonds issued	$ 4,422,000	$ 127,683,000
Non-current portion of non-current bonds issued	$ 224,164,000	$ 0
Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Borrowings, interest rate	4.77%	5.02%
Borrowings, Nominal interest rate	4.75%	5.00%
Current bonds issued and current portion of non-current bonds issued	$ 5,705,000	$ 8,889,000
Non-current portion of non-current bonds issued	$ 295,531,000	$ 466,926,000
Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Borrowings, interest rate	4.52%	4.77%
Borrowings, Nominal interest rate	4.50%	4.75%
Current bonds issued and current portion of non-current bonds issued	$ 9,375,000	$ 11,215,000
Non-current portion of non-current bonds issued	$ 638,324,000	$ 599,895,000
Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar	U.S. Dollar
Borrowings, interest rate	3.90%	4.52%
Borrowings, Nominal interest rate	3.88%	4.50%
Current bonds issued and current portion of non-current bonds issued	$ 3,175,000	$ 9,376,000
Non-current portion of non-current bonds issued	$ 659,979,000	$ 659,625,000
Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 1,194,000	$ 1,853,000
Non-current finance lease liabilities	$ 1,966,000	$ 2,380,000
Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 5,335,000	$ 6,541,000
Non-current finance lease liabilities	$ 9,554,000	$ 11,990,000
Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 2,931,000	$ 2,653,000
Non-current finance lease liabilities	$ 5,096,000	$ 7,127,000
Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 17,341,000	$ 14,155,000
Non-current finance lease liabilities	$ 20,266,000	$ 25,767,000
Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 4,572,000	$ 6,703,000
Non-current finance lease liabilities	$ 894,000	$ 4,846,000
Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	U.F.	U.F.
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 7,344,000	$ 3,976,000
Non-current finance lease liabilities	$ 20,420,000	$ 10,325,000
Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	Chilean Pesos	Chilean Pesos
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 67,000	$ 184,000
Non-current finance lease liabilities	$ 0	$ 61,000
Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	Chilean Pesos	Chilean Pesos
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 2,154,000	$ 1,756,000
Non-current finance lease liabilities	$ 2,276,000	$ 3,347,000
Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.	Forestal Arauco S.A.
Description of functional currency	Chilean Pesos	Chilean Pesos
Borrowings, interest rate	0.00%	0.00%
Borrowings, Nominal interest rate	0.00%	0.00%
Current finance lease liabilities	$ 3,068,000	$ 2,579,000
Non-current finance lease liabilities	$ 6,422,000	7,743,000
Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	93.458.000-1
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Description of functional currency	U.S. Dollar
Borrowings, interest rate	5.50%
Borrowings, Nominal interest rate	5.50%
Current bonds issued and current portion of non-current bonds issued	$ 3,607,000
Non-current portion of non-current bonds issued	$ 1,031,160,000
Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Subsidiary Tax ID	85.805.200-9
Name of subsidiary	Forestal Arauco S.A.
Description of functional currency	Chilean Pesos
Borrowings, interest rate	0.00%
Borrowings, Nominal interest rate	0.00%
Current finance lease liabilities	$ 335,000
Non-current finance lease liabilities	1,141,000
Not later than three months [member]
Disclosure Of Financials Instruments [Line items]
Short-term Debt	110,700,000	134,140,000
Current finance lease liabilities	9,928,000	9,534,000
Not later than three months [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	12,000	134,140,000
Bonds issued, undiscounted cash flows		22,000
Not later than three months [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	28,012	51,875,000
Not later than three months [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	9,928,000	9,534,000
Not later than three months [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	25,000	0
Not later than three months [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,167,000	5,031,000
Not later than three months [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,953,000	11,000
Not later than three months [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	14,007,000	1,178,000
Not later than three months [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	2,990,000
Not later than three months [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	3,000	16,176,000
Not later than three months [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,723,000	0
Not later than three months [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	11,946,000	2,501,000
Not later than three months [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	25,176,000	4,768,000
Not later than three months [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	12,104,000
Not later than three months [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	24,746,000	25,474,000
Not later than three months [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	6,000	89,000
Not later than three months [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,200,000	24,733,000
Not later than three months [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,000	5,000
Not later than three months [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,352,000	1,202,000
Not later than three months [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	20,230,000	10,135,000
Not later than three months [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	23,000	1,351,000
Not later than three months [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	18,000	22,735,000
Not later than three months [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	3,000	7,000
Not later than three months [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,000	2,713,000
Not later than three months [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	13,000	13,000
Not later than three months [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	11,000	2,000
Not later than three months [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	16,000	2,000
Not later than three months [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	22,000	13,000
Not later than three months [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	7,000	11,000
Not later than three months [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	981,000	400,000
Not later than three months [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	17,000
Not later than three months [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	20,000	8,000
Not later than three months [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,000	1,000
Not later than three months [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	6,000	5,000
Not later than three months [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,000	20,000
Not later than three months [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	192,000	0
Not later than three months [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	34,000	0
Not later than three months [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,000	4,000
Not later than three months [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,000	195,000
Not later than three months [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	995,000	35,000
Not later than three months [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	23,000	4,000
Not later than three months [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	16,000	4,000
Not later than three months [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	63,000	1,000
Not later than three months [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	19,000	62,000
Not later than three months [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	23,000
Not later than three months [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	16,000
Not later than three months [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	60,000
Not later than three months [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	19,000
Not later than three months [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	675,000
Not later than three months [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Not later than three months [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	2,115,000
Not later than three months [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	2,342	0
Not later than three months [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	586,000
Not later than three months [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	1,755,000
Not later than three months [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Not later than three months [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Not later than three months [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	6,168	15,205,000
Not later than three months [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	4,422	2,734,000
Not later than three months [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	5,705	8,889,000
Not later than three months [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	9,375	11,215,000
Not later than three months [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	9,376,000
Not later than three months [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	168,000	237,000
Not later than three months [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,563,000	1,571,000
Not later than three months [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	749,000	645,000
Not later than three months [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	3,346,000	3,294,000
Not later than three months [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,151,000	1,673,000
Not later than three months [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,443,000	982,000
Not later than three months [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	50,000	46,000
Not later than three months [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	607,000	439,000
Not later than three months [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	767,000	647,000
Not later than three months [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0
Not later than three months [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	84,000
Later than three months and not later than one year [member]
Disclosure Of Financials Instruments [Line items]
Short-term Debt	282,172,000	61,483,000
Current finance lease liabilities	34,413,000	30,866,000
Later than three months and not later than one year [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	52,000	61,483,000
Bonds issued, undiscounted cash flows		66,000
Later than three months and not later than one year [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	34,982	409,102,000
Later than three months and not later than one year [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	34,413,000	30,866,000
Later than three months and not later than one year [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	199,572,000	36,000
Later than three months and not later than one year [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,032,000	0
Later than three months and not later than one year [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,787,000	29,000
Later than three months and not later than one year [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	1,027,000
Later than three months and not later than one year [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,503,000	2,782,000
Later than three months and not later than one year [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,506,000	0
Later than three months and not later than one year [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,161,000	2,501,000
Later than three months and not later than one year [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	11,255,000	0
Later than three months and not later than one year [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	21,214,000	4,143,000
Later than three months and not later than one year [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	45,000	11,237,000
Later than three months and not later than one year [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	12,564,000	20,774,000
Later than three months and not later than one year [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	12,563,000
Later than three months and not later than one year [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	12,513,000	0
Later than three months and not later than one year [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,013,000	5,003,000
Later than three months and not later than one year [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	67,000	0
Later than three months and not later than one year [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	56,000	0
Later than three months and not later than one year [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	7,000	18,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	321,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	37,000	25,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	33,000	46,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	6,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	65,000	38,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	20,000	33,000
Later than three months and not later than one year [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	907,000	0
Later than three months and not later than one year [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	16,000	0
Later than three months and not later than one year [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	69,000	21,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	7,000	16,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	17,000	18,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	57,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	619,000	5,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	12,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	12,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	520,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	984,000	101,000
Later than three months and not later than one year [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	754,000	0
Later than three months and not later than one year [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	452,000	0
Later than three months and not later than one year [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	339,000	32,000
Later than three months and not later than one year [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	504,000	41,000
Later than three months and not later than one year [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,000	0
Later than three months and not later than one year [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,000	0
Later than three months and not later than one year [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0
Later than three months and not later than one year [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	1,528	1,931,000
Later than three months and not later than one year [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	611	0
Later than three months and not later than one year [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	996,000
Later than three months and not later than one year [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	1,103	9,839,000
Later than three months and not later than one year [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,364	0
Later than three months and not later than one year [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	1,944	600,000
Later than three months and not later than one year [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	650	270,787,000
Later than three months and not later than one year [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	124,949,000
Later than three months and not later than one year [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than three months and not later than one year [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	3,175	0
Later than three months and not later than one year [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,026,000	1,616,000
Later than three months and not later than one year [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	3,772,000	4,970,000
Later than three months and not later than one year [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,182,000	2,008,000
Later than three months and not later than one year [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	13,995,000	10,861,000
Later than three months and not later than one year [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	3,421,000	5,030,000
Later than three months and not later than one year [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	5,901,000	2,994,000
Later than three months and not later than one year [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	17,000	138,000
Later than three months and not later than one year [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,547,000	1,317,000
Later than three months and not later than one year [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,301,000	1,932,000
Later than three months and not later than one year [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	3,607
Later than three months and not later than one year [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	251,000
Later than one year and not later than two years [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	85,000	392,139,000
Bonds issued, undiscounted cash flows		88,000
Later than one year and not later than two years [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	394,629	161,700,000
Later than one year and not later than two years [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	25,010,000	0
Later than one year and not later than two years [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	302,242,000
Later than one year and not later than two years [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,434,000	0
Later than one year and not later than two years [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,870,000	0
Later than one year and not later than two years [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	2,450,000
Later than one year and not later than two years [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	5,997,000
Later than one year and not later than two years [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	9,828,000	0
Later than one year and not later than two years [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	23,735,000	0
Later than one year and not later than two years [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	50,198,000	9,895,000
Later than one year and not later than two years [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	24,249,000
Later than one year and not later than two years [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	43,915,000
Later than one year and not later than two years [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	89,000	0
Later than one year and not later than two years [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	74,000	0
Later than one year and not later than two years [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	10,000	0
Later than one year and not later than two years [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,000	0
Later than one year and not later than two years [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	36,000	100,000
Later than one year and not later than two years [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	1,000
Later than one year and not later than two years [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	22,000	51,000
Later than one year and not later than two years [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	27,000	44,000
Later than one year and not later than two years [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than one year and not later than two years [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	16,000	0
Later than one year and not later than two years [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	53,000	27,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	9,000	16,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	23,000	30,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	77,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	403,000	9,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	78,000	23,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	1,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	694,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	107,000	134,000
Later than one year and not later than two years [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	3,017,000	0
Later than one year and not later than two years [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,810,000	0
Later than one year and not later than two years [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,037,000	0
Later than one year and not later than two years [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,011,000	41,000
Later than one year and not later than two years [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	27,000	758,000
Later than one year and not later than two years [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	13,000	454,000
Later than one year and not later than two years [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	26,000	339,000
Later than one year and not later than two years [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	12,000	504,000
Later than one year and not later than two years [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,060,000
Later than one year and not later than two years [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	28,132	11,587,000
Later than one year and not later than two years [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	11,340	6,344,000
Later than one year and not later than two years [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	7,027	7,794,000
Later than one year and not later than two years [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	8,633	21,758,000
Later than one year and not later than two years [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	23,445	7,022,000
Later than one year and not later than two years [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	7,777	4,695,000
Later than one year and not later than two years [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	5,200	0
Later than one year and not later than two years [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	217,034	36,250,000
Later than one year and not later than two years [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	10,013	0
Later than one year and not later than two years [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	12,153	20,000,000
Later than one year and not later than two years [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,500	23,750,000
Later than one year and not later than two years [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	19,375	22,500,000
Later than one year and not later than two years [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	983,000	0
Later than one year and not later than two years [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	4,139,000	0
Later than one year and not later than two years [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,318,000	0
Later than one year and not later than two years [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	7,886,000	0
Later than one year and not later than two years [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	447,000	0
Later than one year and not later than two years [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	4,856,000	0
Later than one year and not later than two years [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than one year and not later than two years [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,015,000	0
Later than one year and not later than two years [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	3,032,000	0
Later than one year and not later than two years [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,000
Later than one year and not later than two years [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	334,000
Later than two years and not later than three years [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	74,000	95,673,000
Bonds issued, undiscounted cash flows		22,000
Later than two years and not later than three years [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	393,669	676,622,000
Later than two years and not later than three years [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	25,010,000	50,559,000
Later than two years and not later than three years [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,361,000	0
Later than two years and not later than three years [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,676,000	0
Later than two years and not later than three years [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	2,387,000
Later than two years and not later than three years [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	5,830,000
Later than two years and not later than three years [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	9,526,000	0
Later than two years and not later than three years [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	22,938,000	0
Later than two years and not later than three years [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	49,484,000	9,637,000
Later than two years and not later than three years [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	23,568,000
Later than two years and not later than three years [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	44,538,000
Later than two years and not later than three years [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	46,000	0
Later than two years and not later than three years [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	74,000	0
Later than two years and not later than three years [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	10,000	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	100,000
Later than two years and not later than three years [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	4,000
Later than two years and not later than three years [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	27,000	37,000
Later than two years and not later than three years [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	8,000	0
Later than two years and not later than three years [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	28,000	27,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	9,000	16,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	22,000	30,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	23,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	9,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	23,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	115,000	2,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	24,000	405,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	212,000	78,000
Later than two years and not later than three years [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,262,000	0
Later than two years and not later than three years [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,358,000	0
Later than two years and not later than three years [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,697,000	0
Later than two years and not later than three years [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,509,000	32,000
Later than two years and not later than three years [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	27,000	3,030,000
Later than two years and not later than three years [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	13,000	1,818,000
Later than two years and not later than three years [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	28,000	2,037,000
Later than two years and not later than three years [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	13,000	2,020,000
Later than two years and not later than three years [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	4,839,000
Later than two years and not later than three years [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	27,301	29,091,000
Later than two years and not later than three years [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	11,005	6,344,000
Later than two years and not later than three years [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	224,916	7,794,000
Later than two years and not later than three years [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	8,633	21,172,000
Later than two years and not later than three years [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,796	7,022,000
Later than two years and not later than three years [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	7,777	4,695,000
Later than two years and not later than three years [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	5,200	0
Later than two years and not later than three years [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	534,254,000
Later than two years and not later than three years [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	10,013	0
Later than two years and not later than three years [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	12,153	20,000,000
Later than two years and not later than three years [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,500	23,750,000
Later than two years and not later than three years [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	19,375	22,500,000
Later than two years and not later than three years [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	983,000	1,179,000
Later than two years and not later than three years [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	4,139,000	7,731,000
Later than two years and not later than three years [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,318,000	5,092,000
Later than two years and not later than three years [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	7,886,000	16,861,000
Later than two years and not later than three years [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	447,000	4,663,000
Later than two years and not later than three years [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	4,856,000	7,501,000
Later than two years and not later than three years [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	61,000
Later than two years and not later than three years [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	1,015,000	2,418,000
Later than two years and not later than three years [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	3,032,000	5,053,000
Later than two years and not later than three years [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,000
Later than two years and not later than three years [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	334,000
Later than three years and not later than four years [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	64,000	92,601,000
Bonds issued, undiscounted cash flows		0
Later than three years and not later than four years [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	350,069	336,863,000
Later than three years and not later than four years [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	9,008,000	0
Later than three years and not later than four years [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,282,000	0
Later than three years and not later than four years [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	2,324,000
Later than three years and not later than four years [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	5,664,000
Later than three years and not later than four years [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	9,201,000	0
Later than three years and not later than four years [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	47,929,000	9,379,000
Later than three years and not later than four years [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	22,888,000
Later than three years and not later than four years [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	45,209,000
Later than three years and not later than four years [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	74,000	0
Later than three years and not later than four years [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	7,000	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	57,000
Later than three years and not later than four years [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	364,000	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	11,000	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	28,000	27,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	5,000	8,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	11,000	19,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	322,000	9,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	23,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	458,000	0
Later than three years and not later than four years [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	145,000	0
Later than three years and not later than four years [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	202,000	0
Later than three years and not later than four years [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	114,000
Later than three years and not later than four years [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	24,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	10,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	27,000	2,272,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	12,000	1,363,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	28,000	1,697,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	13,000	1,514,000
Later than three years and not later than four years [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	17,925,000
Later than three years and not later than four years [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	26,469	27,486,000
Later than three years and not later than four years [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	10,670	203,030,000
Later than three years and not later than four years [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	7,794,000
Later than three years and not later than four years [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	8,633	20,586,000
Later than three years and not later than four years [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	11,154	7,022,000
Later than three years and not later than four years [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	7,777	4,695,000
Later than three years and not later than four years [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	5,200	0
Later than three years and not later than four years [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than three years and not later than four years [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	204,138	0
Later than three years and not later than four years [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	12,153	20,000,000
Later than three years and not later than four years [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,500	23,750,000
Later than three years and not later than four years [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	19,375	22,500,000
Later than three years and not later than four years [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than three years and not later than four years [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	638,000	0
Later than three years and not later than four years [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	230,000	0
Later than three years and not later than four years [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,247,000	0
Later than three years and not later than four years [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than three years and not later than four years [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	5,354,000	0
Later than three years and not later than four years [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than three years and not later than four years [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	123,000	0
Later than three years and not later than four years [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	179,000	0
Later than three years and not later than four years [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,000
Later than three years and not later than four years [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	237,000
Later than four years and not later than five years [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	54,000	58,576,000
Bonds issued, undiscounted cash flows		0
Later than four years and not later than five years [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	400,231	516,143,000
Later than four years and not later than five years [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	9,007,000	23,027,000
Later than four years and not later than five years [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,201,000	0
Later than four years and not later than five years [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	2,256,000
Later than four years and not later than five years [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	8,885,000	0
Later than four years and not later than five years [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	47,207,000	9,096,000
Later than four years and not later than five years [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	45,882,000
Later than four years and not later than five years [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	7,000	0
Later than four years and not later than five years [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	7,000
Later than four years and not later than five years [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	364,000	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	369,000
Later than four years and not later than five years [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	16,000	11,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	8,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	322,000	5,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	11,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	344,000	0
Later than four years and not later than five years [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	120,000	327,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	161,000	0
Later than four years and not later than five years [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	460,000
Later than four years and not later than five years [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	144,000
Later than four years and not later than five years [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,000	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	1,000	0
Later than four years and not later than five years [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	17,925,000
Later than four years and not later than five years [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	25,638	33,383,000
Later than four years and not later than five years [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	10,335	0
Later than four years and not later than five years [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	7,794,000
Later than four years and not later than five years [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	28,334	10,073,000
Later than four years and not later than five years [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	7,022,000
Later than four years and not later than five years [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	7,777	4,695,000
Later than four years and not later than five years [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	5,200	0
Later than four years and not later than five years [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than four years and not later than five years [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	259,072	406,926,000
Later than four years and not later than five years [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,500	23,750,000
Later than four years and not later than five years [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	19,375	22,500,000
Later than four years and not later than five years [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	1,201,000
Later than four years and not later than five years [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	638,000	4,259,000
Later than four years and not later than five years [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	230,000	2,035,000
Later than four years and not later than five years [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	2,247,000	8,906,000
Later than four years and not later than five years [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	183,000
Later than four years and not later than five years [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	5,354,000	2,824,000
Later than four years and not later than five years [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than four years and not later than five years [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	123,000	929,000
Later than four years and not later than five years [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	179,000	2,690,000
Later than four years and not later than five years [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	22,000
Later than four years and not later than five years [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	236,000
Later than five years [member]
Disclosure Of Financials Instruments [Line items]
Non-current portion of non-current borrowings	138,161,000	92,351,000
Non-current finance lease liabilities	0	0
Later than five years [member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	93,001,000
Bonds issued, undiscounted cash flows		0
Later than five years [member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	3,077,733	1,998,938,000
Later than five years [member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Bank Borrowings One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	2,120,000	0
Later than five years [member] | Bank Borrowings Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	4,302,000
Later than five years [member] | Bank Borrowings Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	8,570,000	0
Later than five years [member] | Bank Borrowings Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	23,564,000	17,371,000
Later than five years [member] | Bank Borrowings Ten [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Eleven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	70,166,000
Later than five years [member] | Bank Borrowings Twelve [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fifteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Sixteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Seventeen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Eighteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Nineteen [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Twenty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	369,000
Later than five years [member] | Bank Borrowings Twenty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	327,000
Later than five years [member] | Bank Borrowings Thirty Seven [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Thirty Eight [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	346,000
Later than five years [member] | Bank Borrowings Thirty Nine [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	120,000
Later than five years [member] | Bank Borrowings Fourty [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty One [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty Two [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty Three [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty Four [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty Five [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	0	0
Later than five years [member] | Bank Borrowings Fourty Six [Member] | Bank Borrowings [Member]
Disclosure Of Financials Instruments [Line items]
Bank borrowings, undiscounted cash flows	111,309,000
Later than five years [member] | Bonds Issued One [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	156,181	180,490,000
Later than five years [member] | Bonds Issued Two [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	62,958	0
Later than five years [member] | Bonds Issued Three [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	242,571,000
Later than five years [member] | Bonds Issued Four [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	240,175	0
Later than five years [member] | Bonds Issued Five [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	290,572,000
Later than five years [member] | Bonds Issued Six [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	314,228	210,785,000
Later than five years [member] | Bonds Issued Seven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	230,228	0
Later than five years [member] | Bonds Issued Eight [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than five years [member] | Bonds Issued Nine [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than five years [member] | Bonds Issued Ten [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	0	0
Later than five years [member] | Bonds Issued Eleven [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	548,324	504,895,000
Later than five years [member] | Bonds Issued Twelve [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	582,479	569,625,000
Later than five years [member] | Finance lease One [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Two [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Three [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Four [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Five [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Six [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Seven [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Eight [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	0
Later than five years [member] | Finance lease Nine [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	0	$ 0
Later than five years [member] | Bonds Issued Thirteen [Member] | Bonds Issued [Member]
Disclosure Of Financials Instruments [Line items]
Bonds issued, undiscounted cash flows	943,160
Later than five years [member] | Finance Lease Ten [Member] | Finance lease [Member]
Disclosure Of Financials Instruments [Line items]
Gross finance lease obligations	$ 0

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FINANCIAL INSTRUMENTS (Details 26) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Financial guarantee granted	$ 54,804
Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Financial guarantee granted	$ 602,202
Financial guarantee one [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 488,000
Name of guarantor	Directorate General of Maritime Territory and Merchant Marine
Financial guarantee one [Member] | Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Suretyship not supportive and cumulative
Description of assets pledged	-
Description of functional currency	U.S. Dollar
Financial guarantee granted	$ 408,351
Name of guarantor	Joint Ventures (Uruguay)
Financial guarantee two [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 313,000
Name of guarantor	Directorate General of Maritime Territory and Merchant Marine
Financial guarantee two [Member] | Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Full Guarantee
Description of assets pledged	-
Description of functional currency	U.S. Dollar
Financial guarantee granted	$ 131,000
Name of guarantor	Arauco Forest Brasil y Mahal (Brazil)
Financial guarantee three [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 230,000
Name of guarantor	Directorate General of Maritime Territory and Merchant Marine
Financial guarantee three [Member] | Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency	U.S. Dollar
Financial guarantee granted	$ 4,362
Name of guarantor	Arauco Forest Brasil y Mahal (Brazil)
Financial guarantee four [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 209,000
Name of guarantor	Directorate General of Maritime Territory and Merchant Marine
Financial guarantee four [Member] | Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency	Brazilian Real
Financial guarantee granted	$ 14,593
Name of guarantor	Arauco Forest Brasil y Mahal (Brazil)
Financial guarantee five [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 100,000
Name of guarantor	National Customs Service
Financial guarantee five [Member] | Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Celulosa Arauco y Constitución S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency	U.S. Dollar
Financial guarantee granted	$ 43,896
Name of guarantor	Masisa S.A.
Financial guarantee six [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Mortgage Industrial Plant of Jaguariaíva of Arauco do Brasil
Description of assets pledged	-
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 46,346
Name of guarantor	BNDES
Financial guarantee seven [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Endorsement of ADB + Guarantee Letter AISA
Description of assets pledged	-
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 3,539
Name of guarantor	Bank Votorantim S.A.
Financial guarantee eight [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Endorsement of Arauco do Brasil
Description of assets pledged	-
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 645,000
Name of guarantor	Bank Votorantim S.A.
Financial guarantee nine [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 224,000
Name of guarantor	Bank Santander S.A.
Financial guarantee ten [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 134,000
Name of guarantor	Bank Bradesco S.A.
Financial guarantee eleven [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 113,000
Name of guarantor	Bank Bradesco S.A.
Financial guarantee twelve [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Forest Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 97,000
Name of guarantor	Bank Bradesco S.A.
Financial guarantee thirteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco do Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 209,000
Name of guarantor	Bank Santander S.A.
Financial guarantee fourteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco do Brasil S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 206,000
Name of guarantor	Bank Alpha S.A.
Financial guarantee fifteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Florestal Arapoti S.A.
Nature of guarantee granted	Endorsement of Arauco do Brasil
Description of assets pledged	-
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 727,000
Name of guarantor	Bank Votorantim S.A.
Financial guarantee sixteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Florestal Arapoti S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 389,000
Name of guarantor	Bank Safra S.A.
Financial guarantee seventeen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Florestal Arapoti S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 232,000
Name of guarantor	Bank Santander S.A.
Financial guarantee eighteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Florestal Arapoti S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 201,000
Name of guarantor	Bank Itaú BBA S.A.
Financial guarantee nineteen [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Florestal Arapoti S.A.
Nature of guarantee granted	Equipment
Description of assets pledged	Property plant and equipment
Description of functional currency		U.S. Dollar
Financial guarantee granted	$ 96,000
Name of guarantor	Bank Bradesco S.A.
Financial guarantee twenty [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Bioenergía S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 185,000
Name of guarantor	Minera Escondida Ltda.
Financial guarantee twenty one [Member] | Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Name of subsidiary	Arauco Bioenergía S.A.
Nature of guarantee granted	Guarantee letter
Description of assets pledged	-
Description of functional currency		Chilean Pesos
Financial guarantee granted	$ 121,000
Name of guarantor	CODELCO S.A.

XML

FINANCIAL INSTRUMENTS (Details 27) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Financials Instruments [Line items]
Financial liabilities		$ 4,166,535	$ 4,454,380	$ 4,405,444
Bonds issued		3,302,685	3,452,659
Borrowings		858,457	914,358
Other financial liabilities		$ 4,278,911	$ 4,568,366
Percentage of entity total interest rate borrowings		100.00%	100.00%
Fixed interest rate [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities		$ 3,676,210	$ 3,903,942
Bonds issued		3,302,685	3,452,659
Borrowings	[1]	261,149	337,297
Other financial liabilities		$ 112,376	$ 113,986
Proportion of fixed interest rate borrowings		86.00%	87.10%
Floating interest rate [member]
Disclosure Of Financials Instruments [Line items]
Financial liabilities		$ 597,308	$ 577,061
Bonds issued		0	0
Borrowings		$ 597,308	$ 577,061
Proportion of variable interest rate borrowings		14.00%	12.90%

[1] Includes variable rate bank borrowings changed by fixed rate swaps.

XML

FINANCIAL INSTRUMENTS (Details Textual))	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 29, 2011 USD ($)
Disclosure Of Financials Instruments [Line items]
Allowance account for credit losses of financial assets	$ (14,501,000)	$ (16,644,000)	$ (19,860,000)	$ (18,520,000)
Trade receivables	$ 718,715,000	$ 611,094,000
Number of debtors	2,245
Provision of guarantees, Debtors	$ 98,732,000
Percentage of secured trade receivables	97.40%
Percentage of unsecured trade receivables	2.60%
Description of average payable period	As part of the policy of Arauco, it considers compliance with all Accounts Payable, whether with related (see Note 13) or third parties, within a period not exceeding 30 days.
Pulp [Member]
Disclosure Of Financials Instruments [Line items]
Percentage of entity's revenue	46.80%
Floating interest rate [member]
Disclosure Of Financials Instruments [Line items]
Proportion of variable interest rate borrowings	14.00%	12.90%
Currency risk [member] | Chilean Pesos [Member]
Disclosure Of Financials Instruments [Line items]
Description of changes in exposure to risk	Sensitivity analysis considers a variation of +/- 10% of the exchange rate over the Chilean Peso. This fluctuation range is considered possible given current market conditions as of the date of these financial statements. With all other variables at a constant rate, a U.S. Dollar exchange rate variation of +/- 10% in relation to the Chilean Peso would mean a change in the net income year after tax +/- 9.98% (equivalent to ThU.S.$ +/- 26,968), and +/- 0.23% of equity (equivalent to ThU.S.$ +/- 16,181).
Currency risk [member] | Brazilian Real [Member]
Disclosure Of Financials Instruments [Line items]
Description of changes in exposure to risk	Additionally, a sensitivity analysis is carried out assuming a variation of +/- 10% in the closing exchange rate on the Brazilian Real, which is considered a possible range of fluctuation given the market conditions as of the date of these financial statements. With all the other variables constant, a variation of +/- 10% in the exchange rate of the dollar on the Brazilian Real would mean a variation on the net income after tax +/- 1,67% (equivalent to ThU.S.$4,500) and a change on the equity of +/- 0.04% (equivalent to ThU.S.$2,700).
Interest Rate Risk [Member]
Disclosure Of Financials Instruments [Line items]
Description of changes in exposure to risk	A change of +/- 10% in the interest rate is considered a possible range of fluctuation. Such market conditions would affect the income after tax at rate of +/- 0.41% (equivalent to ThU.S.$-/+ 1,097) and +/- 0.01% (equivalent to ThU.S.$-/+ 658) on equity.
Commodity price risk [member]
Disclosure Of Financials Instruments [Line items]
Description of changes in exposure to risk	Sensitivity analysis considers a variation of +/- 10% in the average pulp price, a possible fluctuation range given current market conditions at the date of the closing balance. With all other variables constant, a variation of +/- 10% in the average pulp price would mean a variation of +/- 72.94% (equivalent to ThU.S.$ 197,022) on the income for the year after tax and +/- 1.66% (equivalent to ThU.S.$118,213) on equity.
Uruguayan companies [Member]
Disclosure Of Financials Instruments [Line items]
Percentage of financial guarantee given					0.00%
IDB Facility Agreement [Member] | Uruguayan companies [Member]
Disclosure Of Financials Instruments [Line items]
Financial guarantee granted					$ 454,000,000
Finnevera Guaranteed Facility Agreement [Member] | Uruguayan companies [Member]
Disclosure Of Financials Instruments [Line items]
Financial guarantee granted					$ 900,000,000
Direct guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets pledged as collateral for liabilities or contingent liabilities	$ 55,000,000
Financial guarantee granted	54,804
Indirect guarantee [Member]
Disclosure Of Financials Instruments [Line items]
Financial assets pledged as collateral for liabilities or contingent liabilities	602,000,000
Financial guarantee granted	$ 602,202
Open account debt [Member]
Disclosure Of Financials Instruments [Line items]
Percentage of entity's revenue	3.49%
Open account customers [Member]
Disclosure Of Financials Instruments [Line items]
Trade receivables	$ 391,992,000
Percentage of entity's revenue	59.18%
Letter of credit customers [Member]
Disclosure Of Financials Instruments [Line items]
Percentage of entity's revenue	37.83%
Other type of customers [Member]
Disclosure Of Financials Instruments [Line items]
Percentage of entity's revenue	2.99%

XML

REPORTABLE SEGMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Reportable Segments [Line Items]
Revenue	$ 5,238,341	$ 4,761,385	$ 5,146,740
Revenues from transactions with other operating segments	0	0	0
Finance income	19,640	29,701	50,284
Finance costs	287,958	258,467	262,962
Net finance costs	(268,318)	(228,766)	(212,678)
Depreciation and amortizations	421,551	409,387	400,145
Sum of significant income accounts	92,974	228,257	225,761
Sum of significant expense accounts	141,472	27,758	39,613
Profit (loss) of each reportable segment	270,352	217,577	367,711
Associates	4,855	16,348	5,573
Joint ventures	12,162	7,591	1,175
Income tax expense	(30,992)	45,647	129,694
Total Ordinary Income	5,238,341	4,761,385	5,146,740
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	637,966	511,718	457,912
Acquisition and contribution of investments in associates and joint venture	0	153,135	814
Segment assets	13,994,600	14,006,181	13,670,391
Segments assets (excluding deferred tax assets)	13,986,334	14,000,084	13,666,656
Deferred tax assets	8,266	6,097	3,735
Associates	158,772	265,775	241,140
Joint Ventures	209,805	180,773	23,672
Segment liabilities	6,877,707	7,006,898	7,023,946
Segment liabilities (excluding deferred tax liabilities)	5,392,343	5,375,833	5,404,934
Deferred tax liabilities	1,485,365	1,631,065	1,619,012
Geographical information on non-current assets
Long-Lived Assets	11,224,237	11,283,821	10,983,979
Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	3,103,568	2,850,436	3,074,273
Total Ordinary Income	3,103,568	2,850,436	3,074,273
Geographical information on non-current assets
Long-Lived Assets	6,631,316	6,936,107	6,985,875
Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	2,134,773	1,910,949	2,072,467
Total Ordinary Income	2,134,773	1,910,949	2,072,467
Geographical information on non-current assets
Long-Lived Assets	4,592,921	4,347,714	3,998,104
Elimination [member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Revenues from transactions with other operating segments	(1,056,169)	(1,187,829)	(578,333)
Finance income	0	0	0
Finance costs	0	0	0
Net finance costs	0	0	0
Depreciation and amortizations	0	0	0
Sum of significant income accounts	0	0	0
Sum of significant expense accounts	0	0	0
Profit (loss) of each reportable segment	0	0	0
Associates	0	0	0
Joint ventures	0	0	0
Income tax expense	0	0	0
Total Ordinary Income	0	0	0
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	0	0	0
Acquisition and contribution of investments in associates and joint venture	0	0	0
Segment assets	(38,765)	(41,604)	(48,542)
Segments assets (excluding deferred tax assets)	(38,765)	(41,604)	(48,542)
Deferred tax assets	0	0	0
Associates	0	0	0
Joint Ventures	0	0	0
Segment liabilities	0	0	0
Segment liabilities (excluding deferred tax liabilities)	0	0	0
Deferred tax liabilities	0	0	0
Geographical information on non-current assets
Long-Lived Assets	(4,635)	(3,575)	(2,955)
Elimination [member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Total Ordinary Income	0	0	0
Geographical information on non-current assets
Long-Lived Assets	(4,635)	(3,575)	(2,955)
Elimination [member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Total Ordinary Income	0	0	0
Geographical information on non-current assets
Long-Lived Assets	0	0	0
Pulp [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	2,451,363	2,146,079	2,363,973
Revenues from transactions with other operating segments	43,829	41,586	43,414
Finance income	0	0	0
Finance costs	0	0	0
Net finance costs	0	0	0
Depreciation and amortizations	246,382	240,699	231,916
Sum of significant income accounts	581	212	31
Sum of significant expense accounts	0	0	585
Profit (loss) of each reportable segment	589,934	308,536	455,190
Associates	0	0	0
Joint ventures	0	0	0
Income tax expense	0	0	0
Total Ordinary Income	2,451,363	2,146,079	2,363,973
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	191,771	205,205	199,094
Acquisition and contribution of investments in associates and joint venture	0	0	0
Segment assets	5,035,105	5,077,300	5,172,095
Segments assets (excluding deferred tax assets)	5,035,105	5,077,300	5,172,095
Deferred tax assets	0	0	0
Associates	0	0	0
Joint Ventures	0	0	0
Segment liabilities	325,598	277,474	318,880
Segment liabilities (excluding deferred tax liabilities)	325,598	277,474	318,880
Deferred tax liabilities	0	0	0
Geographical information on non-current assets
Long-Lived Assets	4,238,187	4,313,261	4,347,593
Pulp [Member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	1,781,769	1,540,100	1,680,804
Total Ordinary Income	1,781,769	1,540,100	1,680,804
Geographical information on non-current assets
Long-Lived Assets	2,537,947	2,572,702	2,565,307
Pulp [Member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	669,594	605,979	683,169
Total Ordinary Income	669,594	605,979	683,169
Geographical information on non-current assets
Long-Lived Assets	1,700,240	1,740,559	1,782,286
Forestry [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	114,122	96,488	116,368
Revenues from transactions with other operating segments	970,384	1,105,220	491,703
Finance income	0	0	0
Finance costs	0	0	0
Net finance costs	0	0	0
Depreciation and amortizations	22,011	19,996	18,211
Sum of significant income accounts	91,089	227,776	220,907
Sum of significant expense accounts	138,139	15,193	35,610
Profit (loss) of each reportable segment	(210,566)	98,955	137,829
Associates	0	0	0
Joint ventures	0	0	0
Income tax expense	0	0	0
Total Ordinary Income	114,122	96,488	116,368
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	211,245	182,743	155,872
Acquisition and contribution of investments in associates and joint venture	0	0	814
Segment assets	5,040,500	5,492,364	5,471,322
Segments assets (excluding deferred tax assets)	5,040,500	5,492,364	5,471,322
Deferred tax assets	0	0	0
Associates	48,921	160,490	121,359
Joint Ventures	0	0	0
Segment liabilities	184,721	161,091	147,432
Segment liabilities (excluding deferred tax liabilities)	184,721	161,091	147,432
Deferred tax liabilities	0	0	0
Geographical information on non-current assets
Long-Lived Assets	4,870,468	5,034,917	4,850,057
Forestry [Member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	55,946	52,161	68,986
Total Ordinary Income	55,946	52,161	68,986
Geographical information on non-current assets
Long-Lived Assets	3,221,911	3,509,727	3,536,372
Forestry [Member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	58,176	44,327	47,382
Total Ordinary Income	58,176	44,327	47,382
Geographical information on non-current assets
Long-Lived Assets	1,648,557	1,525,190	1,313,685
Other [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	39,083	29,864	33,188
Revenues from transactions with other operating segments	35,659	34,085	32,543
Finance income	0	0	0
Finance costs	0	0	0
Net finance costs	0	0	0
Depreciation and amortizations	3,568	2,529	3,913
Sum of significant income accounts	0	0	0
Sum of significant expense accounts	0	0	35
Profit (loss) of each reportable segment	6,668	(2,666)	1,815
Associates	0	0	0
Joint ventures	0	0	0
Income tax expense	0	0	0
Total Ordinary Income	39,083	29,864	33,188
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	428	1,479	1,754
Acquisition and contribution of investments in associates and joint venture	0	0	0
Segment assets	52,640	30,970	31,679
Segments assets (excluding deferred tax assets)	52,640	30,970	31,679
Deferred tax assets	0	0	0
Associates	0	0	0
Joint Ventures	0	0	0
Segment liabilities	16,100	11,836	11,526
Segment liabilities (excluding deferred tax liabilities)	16,100	11,836	11,526
Deferred tax liabilities	0	0	0
Geographical information on non-current assets
Long-Lived Assets	43,791	23,067	23,436
Other [Member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	692	885	597
Total Ordinary Income	692	885	597
Geographical information on non-current assets
Long-Lived Assets	22,220	27	30
Other [Member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	38,391	28,979	32,591
Total Ordinary Income	38,391	28,979	32,591
Geographical information on non-current assets
Long-Lived Assets	21,571	23,040	23,406
Sub Total [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	5,238,341	4,761,385	5,146,740
Revenues from transactions with other operating segments	1,056,169	1,187,829	578,333
Finance income	19,640	29,701	50,284
Finance costs	(287,958)	(258,467)	(262,962)
Net finance costs	(268,318)	(228,766)	(212,678)
Depreciation and amortizations	421,551	409,387	400,145
Sum of significant income accounts	92,974	228,257	225,761
Sum of significant expense accounts	141,472	27,758	39,613
Profit (loss) of each reportable segment	270,352	217,577	367,711
Associates	4,855	16,348	5,572
Joint ventures	12,162	7,591	1,176
Income tax expense	30,992	(45,647)	(129,694)
Total Ordinary Income	5,238,341	4,761,385	5,146,740
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	637,966	511,718	457,912
Acquisition and contribution of investments in associates and joint venture	15,918	153,135	814
Segment assets	14,033,365	14,047,785	13,718,933
Segments assets (excluding deferred tax assets)	14,025,099	14,041,688	13,715,198
Deferred tax assets	8,266	6,097	3,735
Associates	158,967	265,775	241,140
Joint Ventures	209,805	180,773	23,672
Segment liabilities	6,877,707	7,006,898	7,023,946
Segment liabilities (excluding deferred tax liabilities)	5,392,343	5,375,833	5,404,934
Deferred tax liabilities	1,485,364	1,631,065	1,619,012
Geographical information on non-current assets
Long-Lived Assets	11,228,872	11,287,396	10,986,934
Sub Total [Member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	3,103,568	2,850,436	3,074,273
Total Ordinary Income	3,103,568	2,850,436	3,074,273
Geographical information on non-current assets
Long-Lived Assets	6,635,951	6,939,682	6,988,830
Sub Total [Member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	2,134,773	1,910,949	2,072,467
Total Ordinary Income	2,134,773	1,910,949	2,072,467
Geographical information on non-current assets
Long-Lived Assets	4,592,921	4,347,714	3,998,104
Corporate [member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Revenues from transactions with other operating segments	0	0	0
Finance income	19,640	29,701	50,284
Finance costs	(287,958)	(258,467)	(262,962)
Net finance costs	(268,318)	(228,766)	(212,678)
Depreciation and amortizations	7,086	6,319	6,659
Sum of significant income accounts	0	0	0
Sum of significant expense accounts	0	0	0
Profit (loss) of each reportable segment	(341,001)	(353,242)	(491,596)
Associates	4,855	16,348	5,572
Joint ventures	1,784	2,116	1,646
Income tax expense	30,992	(45,647)	(129,694)
Total Ordinary Income	0	0	0
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	4,127	3,883	7,001
Acquisition and contribution of investments in associates and joint venture	15,918	0	0
Segment assets	881,000	932,059	669,703
Segments assets (excluding deferred tax assets)	872,734	925,962	665,968
Deferred tax assets	8,266	6,097	3,735
Associates	110,046	105,285	119,781
Joint Ventures	20,237	19,070	20,099
Segment liabilities	5,862,266	6,244,830	6,276,145
Segment liabilities (excluding deferred tax liabilities)	4,376,902	4,613,765	4,657,133
Deferred tax liabilities	1,485,364	1,631,065	1,619,012
Geographical information on non-current assets
Long-Lived Assets	218,297	178,100	270,988
Corporate [member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Total Ordinary Income	0	0	0
Geographical information on non-current assets
Long-Lived Assets	187,639	135,808	128,185
Corporate [member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	0	0	0
Total Ordinary Income	0	0	0
Geographical information on non-current assets
Long-Lived Assets	30,658	42,292	142,803
Wood products [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	2,633,773	2,494,750	2,633,211
Revenues from transactions with other operating segments	6,297	6,938	10,673
Finance income	0	0	0
Finance costs	0	0	0
Net finance costs	0	0	0
Depreciation and amortizations	142,504	139,844	139,446
Sum of significant income accounts	1,304	269	4,823
Sum of significant expense accounts	3,333	12,565	3,383
Profit (loss) of each reportable segment	225,317	165,887	264,473
Associates	0	0	0
Joint ventures	10,378	5,475	(470)
Income tax expense	0	0	0
Total Ordinary Income	2,633,773	2,494,750	2,633,211
Amounts of additions to non-current assets [Abstract]
Acquisition of property, plant and equipment and biological assets	230,395	118,408	94,191
Acquisition and contribution of investments in associates and joint venture	0	153,135	0
Segment assets	3,024,120	2,515,092	2,374,134
Segments assets (excluding deferred tax assets)	3,024,120	2,515,092	2,374,134
Deferred tax assets	0	0	0
Associates	0	0	0
Joint Ventures	189,568	161,703	3,573
Segment liabilities	489,022	311,667	269,963
Segment liabilities (excluding deferred tax liabilities)	489,022	311,667	269,963
Deferred tax liabilities	0	0	0
Geographical information on non-current assets
Long-Lived Assets	1,858,129	1,738,051	1,494,860
Wood products [Member] | Chilean entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	1,265,161	1,275,937	1,323,886
Total Ordinary Income	1,265,161	1,275,937	1,323,886
Geographical information on non-current assets
Long-Lived Assets	666,234	721,418	758,936
Wood products [Member] | Foreign entities [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	1,368,612	1,218,813	1,309,325
Total Ordinary Income	1,368,612	1,218,813	1,309,325
Geographical information on non-current assets
Long-Lived Assets	$ 1,191,895	$ 1,016,633	$ 735,924

XML

REPORTABLE SEGMENTS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Reportable Segments [Line Items]
Revenue	$ 5,238,341	$ 4,761,385	$ 5,146,740
Non-current Assets other than deferred tax	11,215,971	11,277,724	10,980,244
Chilean entities [member]
Disclosure Of Reportable Segments [Line Items]
Revenue	3,103,568	2,850,436	3,074,273
Non-current Assets other than deferred tax	6,624,381	6,931,755	6,986,236
Argentina [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	494,479	414,084	546,409
Non-current Assets other than deferred tax	956,511	960,596	978,285
Brazil [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	395,416	350,352	358,562
Non-current Assets other than deferred tax	1,274,536	1,186,538	837,886
USA/Canada [member]
Disclosure Of Reportable Segments [Line Items]
Revenue	801,092	801,821	809,293
Non-current Assets other than deferred tax	575,231	397,924	364,889
Uruguay [Member]
Disclosure Of Reportable Segments [Line Items]
Revenue	443,786	344,692	358,203
Non-current Assets other than deferred tax	$ 1,785,312	$ 1,800,911	$ 1,812,948

XML

REPORTABLE SEGMENTS (Details Textual)	12 Months Ended
	Dec. 31, 2017 bbl
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	50,000
Fair Value Assumptions, Expected Dividend Rate	40.00%
Pulp [Member]
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	3,900,000
Forestry [Member]
Disclosure Of Reportable Segments [Line Items]
Explanation of information about the volume of assets held	Arauco holds forestry assets distributed throughout Chile, Argentina, Brazil and Uruguay, reaching 1.7 million hectares as of December 31, 2017, of which 1 million hectares are used for plantations, 431 thousand hectares for native forests, 195 thousand hectares for other uses and 99 thousand hectares are to be planted.
Description of percentage of customers for the product	Arauco has no customers representing 10% or more of its revenues.
Osb [Member]
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	486,000,000,000
Pb [Member]
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	2,100,000
Sawn lumber [Member]
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	1,400,000
Wood products [Member]
Disclosure Of Reportable Segments [Line Items]
Annual production capacity	6,800,000

XML

OTHER NON-FINANCIAL ASSETS AND NON-FINANCIAL LIABILITIES (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
Current non-financial assets
Other current non-financial assets		$ 129,837	$ 144,915
Total		3,504	5,201
Non-current non-financial assets
Other non-current non-financial assets		121,521	130,319
Total		56,600	8,868
Current non-financial liabilities
Other Current non-financial liablities		153,950	99,163
Total		500,344	697,452
Non-current non-financial liabilities
Other non-current non-financial liablities		112,340	60,633
Total		3,778,567	3,870,914
Financial Assets and Liabilities [Member]
Current non-financial assets
Roads to amortize current		43,301	41,812
Prepayment to amortize (insurance + others)		21,257	23,086
Recoverable taxes (Relating to purchases)		60,823	71,357
Other current non-financial assets		4,456	8,660
Total		129,837	144,915
Non-current non-financial assets
Roads to amortize, non-current		112,937	121,894
Guarantee values		2,893	3,302
Recoverable taxes		1,835	1,493
Other non-current non-financial assets		3,856	3,630
Total		121,521	130,319
Current non-financial liabilities
Provision of minimum dividend	[1]	116,123	60,312
ICMS tax payable		12,593	14,856
Other tax payable		23,040	16,202
Other Current non-financial liablities		2,194	7,793
Total		153,950	99,163
Non-current non-financial liabilities
ICMS tax payable		110,532	58,606
Other non-current non-financial liablities		1,808	2,027
Total		$ 112,340	$ 60,633

[1] Provision includes a minimum dividend of subsidiary minority.

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DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE [Line Items]
Net profit attributable to owners of parent	$ 269,724	$ 213,801	$ 362,689
Unrealized gains/losses	(82,782)	(204,671)	(205,527)
Realized gains/losses	303,668	210,223	203,730
Deferred income taxes	(54,944)	2,089	(3,889)
Total adjustments	(132,049)	72,394	(5,686)
Distributable Net Profit	$ 435,666	$ 221,442	$ 357,003

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DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE (Details 1) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE [Line Items]
Profit or loss attributable to ordinary equity holder of parent	$ 269,724	$ 213,801	$ 362,689
Weighted average of number of shares	113,159,655	113,159,655	113,159,655
Basic and diluted earnings per share (in U.S.$ per share)	$ 2.3836	$ 1.8894	$ 3.2051

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DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE (Details textual) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Disclosure of DISTRIBUTABLE NET PROFIT AND EARNINGS PER SHARE [Line Items]
Provision For Dividends	$ 113,773
Dividends paid, ordinary shares	$ 60,494