Mines in Operation

Fresnillo B Model Operate Small

Strategic focus: Maximise the potential of existing operations


Our operating mines are located within prime gold and silver mining districts in Mexico, supported by extensive investment in technology, that enhances productivity and efficiency, teamed with high-quality assets selectively added in exploration and development phase, we remain competitively positioned in cash cost performance.

Key assets

Fresnillo Underground Silver 1554
Saucito Underground Silver 2011
Ciénega Underground Gold/Silver 1992
Herradura Open pit Gold 1997
Soledad-Dipolos Open pit Gold 2010
Noche Buena Open pit Gold 2012

Total Production

  4Q16 4Q15 % change 3Q16 YTD 16 YTD 15 % change
Silver (koz) 12,247 11,336 8.0 10,607 45,677 43,023 6.2
Silverstream (koz) 1,069 830 28.8 1,168 4,625 3,955 16.9
Total Silver (koz) 13,316 12,166 9.5 11,775 50,303 46,977 7.1
Gold (oz) 268,104 215,892 24.2 219,840   935,513 761,712 22.8
Lead (t) 13,003 12,675 2.6 12,473 48,144 42,413 13.5
Zinc (t) 16,989 14,625 16.2 14,476 56,845 46,022 23.5

 

Fres AR15 Annual Silver Gold Production*Source: Fresnillo 2015 Annual Report - Annual Silver / Gold production

Production Highlights (4Q16)

  • Record annual silver production of 50.3 moz (including Silverstream), up 7.1% vs. 2015 
  • 4Q16 silver production of 13.3 moz (including Silverstream) up 9.5% vs. 4Q15
  • Quarterly silver production increased 13.1% vs. 3Q16 due to San Julián (phase I) ramp-up, higher ore processed at Saucito and a higher ore grade and ore processed at Fresnillo
  • Record annual gold production of 935.5 koz, up 22.8% vs. 2015 and ahead of guidance
  • Quarterly gold production increased 24.2% vs. 4Q15 and 22.0% vs. 3Q16
  • Successful ramp-up of San Julián (phase I), currently processing 3,600 tpd, 20% above its nominal capacity

Production Outlook (4Q16)

  • Silver - c. 58-61moz incl. 4moz from Silverstream
  • Gold - c. 870-900koz, due mainly to stabilisation of production at Herradura following reduction in inventories

Future Objectives (4Q16)

  • Further increase average development rate at Fresnillo to 4,800m/month
  • San Julián phase II to be commissioned in 2Q17
  • Continued construction of Pyrites Plant (1H18 – 3.5 moz Ag & 13 koz Au p/a) and second Dynamic Leaching Plant at Herradura
  • 2017 exploration budget of approximately US$160 million (including capitalised exploration expenses)
  • Seek continuous cost improvements through dedicated work teams at each business unit
  • Continue to replenish and increase reserves