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Financial instruments (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of detailed information about financial instruments [abstract]

Disclosure of fair value measurement [Table Text Block]

		Dec. 31, 2020						Dec. 31, 2019
		FV			CV			FV			CV
Financial assets at amortized cost
Cash and cash equivalents ¹	$	439,135		$	439,135		$	396,146		$	396,146
Restricted cash¹		337			337			337			337
Fair value through profit or loss
Trade and other receivables ^1, ^{2, 3}		114,381			114,381			91,046			91,046
Non-hedge derivative assets ⁴		2,736			2,736			1,712			1,712
Investments ⁵		15,669			15,669			11,287			11,287
Total financial assets		572,258			572,258			500,528			500,528
Financial liabilities at amortized cost
Trade and other payables^1, ²		209,413			209,413			184,604			184,604
Deferred Rosemont acquisition consideration ⁸		25,961			25,961			24,491			24,491
Other financial liabilities ⁶		41,912			40,787			21,338			24,000
Senior unsecured notes ⁷		1,277,124			1,139,695			1,050,126			991,558
Fair value through profit or loss
Embedded derivatives ⁴		—			—			9,074			9,074
Gold prepayment liability ⁹		137,031			137,031			—			—
Non-hedge derivative liabilities ⁴		15,312			15,312			10,295			10,295
Total financial liabilities		1,706,753			1,568,199			1,299,928			1,244,022
Net financial liability	$	(1,134,495	)	$	(995,941	)	$	(799,400	)	$	(743,494	)
¹Cash and cash equivalents, restricted cash, trade and other receivables and trade and other payables are recorded at carrying value, which approximates fair value due to their short-term nature and generally negligible credit losses.
²Excludes tax and other statutory amounts.
³ Trade and other receivables contain receivables including provisionally priced receivables classified as FVLTPL and various other items at amortized cost. The fair value of provisionally priced receivables is determined using forward metals prices which is a level 2 valuation method.
⁴Derivatives are carried at their fair value, which is determined based on internal valuation models that reflect observable forward market commodity prices, currency exchange rates, and discount factors based on market US dollar interest rates adjusted for credit risk.
⁵All investments are carried at their fair value, which is determined using quoted market bid prices in active markets for listed shares.
⁶These financial liabilities relate to agreements with communities near the Constancia project in Peru (note 15). Fair values have been determined using a discounted cash flow analysis based on expected cash flows and a credit adjusted discount rate.
⁷Fair value of the senior unsecured notes (note 17) has been determined using the quoted market price at the period end. Fair value incorporates the fair value of the prepayment option embedded derivative. The carrying value of this embedded derivative is at FVTPL (2020: $49,754; 2019: $2,585) and has been determined using a binomial tree/lattice approach based on the Hull-White single factor interest rate term structure model.
⁸Discounted value based on a risk adjusted discount rate.
⁹The gold prepayment liability (note 15) is designated as fair value through profit or loss under the fair value option. Gains and losses related to the Company's own credit risk have been recorded at fair value through other comprehensive income. The fair value adjustment recorded in other comprehensive income for the year ended December 31, 2020 was a loss of $1,885.

Disclosure of detailed information about significant unobservable inputs used in fair value measurement of assets and liabilities [Table Text Block]

December 31, 2020

Level 1

Level 2

Level 3

Total

Financial assets measured at fair value

Financial assets at FVTPL:

Non-hedge derivatives

—

2,736

—

2,736

Investments

15,669

—

15,669

2,736

—

18,405

Financial liabilities measured at fair value

Financial liabilities at FVTPL:

Non-hedge derivatives

—

15,312

—

15,312

Gold prepayment liability¹

—

137,031

—

137,031

Financial liabilities at amortized cost:

Other financial liabilities

—

41,912

Senior unsecured notes

1,277,124

—

1,277,124

152,343

41,912

1,471,379

¹The gold prepayment liability (note 15) is designated as fair value through profit or loss under the fair value option. Gains and losses related to the Company's own credit risk have been recorded at fair value through other comprehensive income. The fair value adjustment recorded in other comprehensive income for the year ended December 31, 2020 was a loss of $1,885.

December 31, 2019		Level 1		Level 2		Level 3		Total
Financial assets measured at fair value
Financial assets at FVTPL:
Non-hedge derivatives	$	—	$	1,712	$	—	$	1,712
Investments		11,287		—		—		11,287
	$	11,287	$	1,712	$	—	$	12,999
Financial liabilities measured at fair value
Financial liabilities at FVTPL:
Embedded derivatives	$	—	$	9,074	$	—	$	9,074
Non-hedge derivatives		—		10,295		—		10,295
Financial liabilities at amortized cost:
Other financial liabilities		—		—		21,338		21,338
Senior unsecured notes		1,050,126		—		—		1,050,126
	$	1,050,126	$	19,369	$	21,338	$	1,090,833

Disclosure of detailed information about net position of contracts awaiting final pricing [Table Text Block]

Metal in concentrate		Sales awaiting final pricing		Average YTD price ($/unit)
Metal in concentrate	Unit	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Copper	pounds (in thousands)	47,901	72,977	3.52	2.80
Gold	oz	18,106	16,152	1,894	1,522
Silver	oz	123,380	124,371	26.35	17.86

Disclosure of detailed information about foreign currency risk [Table Text Block]

		Dec. 31, 2020									Dec. 31, 2019
		CAD¹			USD²			PEN³			CAD¹			USD²			PEN³
Cash and cash equivalent	$	7,791		$	3,895		$	4,141		$	8,394		$	21,217		$	7,617
Trade and other receivables		31			43,316			36,951			374			56,998			25,413
Other financial assets		15,669			—			—			11,287			—			—
Trade and other payables		(6,104	)		(1,419	)		(34,622	)		(5,719	)		(435	)		(22,618	)
Other financial liabilities		—			—			(40,787	)		—			—			(24,000	)
	$	17,387		$	45,792		$	(34,317	)	$	14,336		$	77,780		$	(13,588	)
¹HMI is exposed to foreign currency risk on CAD.
²The Manitoba segment is exposed to foreign currency risk on USD.
³The Peru segment is exposed to foreign currency risk on PEN.

Disclosure of detailed information about sensitivity analysis for foreign currency risk [Table Text Block]

December 31, 2020	Change of:	Would have changed 2020 after-tax profit by:
USD/CAD exchange rate¹	+ 10%	$	1.1		million
USD/CAD exchange rate¹	- 10%	(1.4		)	million
USD/PEN exchange rate²	+ 10%	2.0			million
USD/PEN exchange rate²	- 10%	(2.5		)	million
December 31, 2019	Change of:	Would have changed 2019 after-tax profit by:
USD/CAD exchange rate¹	+ 10%	$	3.4		million
USD/CAD exchange rate¹	- 10%	(4.1		)	million
USD/PEN exchange rate²	+ 10%	0.8			million
USD/PEN exchange rate²	- 10%	(1.0		)	million

Disclosure of detailed information about commodity price risk [Table Text Block]

December 31, 2020		Change of:		Would have changed 2020 after-tax profit by:
December 31, 2020		Change of:		Would have changed 2020 after-tax profit by:
Copper prices ($/lb)³		+	$0.30		$	(1.4)	million
Copper prices ($/lb)³		—	$0.30		1.4		million
Zinc prices ($/lb)⁴		+	$0.10		0.3		million
Zinc prices ($/lb)⁴		—	$0.10		(0.3)		million
December 31, 2019		Change of:		Would have changed 2019 after-tax profit by:
Copper prices ($/lb)³		+	$0.30		(2.0)		million
Copper prices ($/lb)³		—	$0.30		2.0		million
Zinc prices ($/lb)⁴		+	$0.10		1.0		million
Zinc prices ($/lb)⁴		—	$0.10		(1.0)		million
	³ Effect on profit due to provisional pricing derivatives (note 27c) and copper fixed for floating swaps (note 27b).
	⁴Effect on profit due to provisional pricing derivatives (note 27c) and non-hedge zinc derivatives (note 27b).

Disclosure of detailed information about share price risk [Table Text Block]

December 31, 2020	Change of:		Would have changed 2020 after-tax profit by:
Share prices	+	25%		$	3.9	million
Share prices	—	25%		(3.9)		million
December 31, 2019	Change of:		Would have changed 2019 after-tax profit by:
Share prices	+	25%		$	2.8	million
Share prices	—	25%		(2.8)		million

Disclosure of detailed information about interest rate risk [Table Text Block]

December 31, 2020	Change of:		Would have changed 2020 after-tax profit by:
Interest rates	+	2.00%		$	(38.0)	million
Interest rates	—	2.00%		48.5		million
December 31, 2019	Change of:		Would have changed 2019 after-tax profit by:
Interest rates	+	2.00%		$	2.3	million
Interest rates	—	2.00%		(2.6)		million

(ii) Credit risk

Disclosure of detailed information about liquidity risk [Table Text Block]

Dec. 31, 2020

Carrying

amount

Contractual

cash flows

12 months

or less

13 - 36

months

37 - 60

months

More than

60 months

Assets used to manage liquidity risk

Cash and cash equivalents

439,135

—

Restricted cash

337

—

Trade and other receivables

114,381

—

Non-hedge derivative assets

2,736

—

556,589

—

Non-derivative financial liabilities

Trade and other payables, including embedded derivatives

(209,413

)

(209,413

)

(209,413

)

—

Other financial
liabilities ¹

(40,787

)

(58,837

)

(12,097

)

(9,483

)

(6,578

)

(30,679

)

Deferred Rosemont acquisition consideration

(25,961

)

(30,000

)

—

(20,000

)

(10,000

)

—

Long-term debt, including embedded derivatives

(1,139,695

)

(1,726,904

)

(87,966

)

(168,188

)

(742,125

)

(728,625

)

Gold prepayment obligation

(137,031

)

(137,031

)

—

(137,031

)

—

(1,552,887

)

(2,162,185

)

(309,476

)

(334,702

)

(758,703

)

(759,304

)

Derivative financial liabilities

Non hedge derivative contracts

(15,312

)

(15,312

)

(15,312

)

—

(15,312

)

(15,312

)

(15,312

)

—

¹ Represents the Peru community agreement obligation, excluding interest.

Dec. 31, 2019		Carrying amount			Contractual cash flows			12 months or less			13 - 36 months			37 - 60 months			More than 60 months
Assets used to manage liquidity risk
Cash and cash equivalents	$	396,146		$	396,146		$	396,146		$	—		$	—		$	—
Restricted cash		337			337			337
Trade and other receivables		91,046			91,046			89,451			—			—			1,595
Non-hedge derivative assets		1,712			1,712			1,712			—			—			—
	$	489,241		$	489,241		$	487,646		$	—		$	—		$	1,595
Non-derivative financial liabilities
Trade and other payables, including embedded derivatives	$	(184,604	)	$	(184,604	)	$	(184,604	)	$	—		$	—		$	—
Other financial liabilities ¹		(24,000	)		(33,723	)		(6,672	)		(4,811	)		(4,734	)		(17,506	)
Deferred Rosemont acquisition consideration		(24,491	)		(30,000	)		—			(10,000	)		(20,000	)		—
Long-term debt, including embedded derivatives		(991,558	)		(1,350,540	)		(72,165	)		(149,500	)		(1,128,875	)		—
	$	(1,224,653	)	$	(1,598,867	)	$	(263,441	)	$	(164,311	)	$	(1,153,609	)	$	(17,506	)
Derivative financial liabilities
Embedded derivative	$	(9,074	)	$	(9,074	)	$	(9,074	)	$	—		$	—		$	—
Non-hedge derivative contracts		(10,295	)		(10,295	)		(10,295	)		—			—			—
	$	(19,369	)	$	(19,369	)	$	(19,369	)	$	—		$	—		$	—
¹ Represents the Peru community agreement obligation, excluding interest.