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

Asset Type Commodity Year
» Fresnillo Underground Silver primary 1554
» Saucito Underground Silver primary 2011
» Ciénega Underground Gold/Silver 1992
» Herradura Open pit Gold 1997
» Soledad-Dipolos Open pit Gold 2010
» Noche Buena Open pit Gold 2012
» San Julián Underground Silver/Gold 2016

*Operations at Soledad-Dipolos currently suspended

Total Production

  2Q17 2Q16 % change 1Q17 1H17 1H16 % change
Silver (koz) 13,328 11,777 13.2 12,424 25,752 22,824 12.8
Silverstream (koz) 1,188 1,217 -2.4 1,105 2,292 2,388 -4.0
Total Silver (koz) 14,515 12,994 11.7 13,529 28,044 25,212 11.2
Gold (oz) 223,479 217,645 2.7 222,290  445,769 447,569 -0.4
Lead (t) 11,385 11,585 -1.7 11,461 22,846 22,668 0.8
Zinc (t) 14,919 12,529 19.1 13,806 28,725 25,380 13.2

Annual Production

Sum of ounces produced, plus ounces accrued through the Silverstream contract. This indicator monitors total production levels at our mines and contributions from advanced development projects.

AR16 Reserves Chart

*Source: Fresnillo 2016 Annual Report - Annual Silver / Gold production

Production Highlights (FY16)

  • 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

Future Objectives 

  • 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