Mines in Operation

Fresnillo B Model Operate Small

Strategic focus:
Maximise the potential of existing operations

Operational focus and criteria

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

  4Q17 4Q16 % change 3Q17 YTD17 YTD16 % change
Silver (koz) 14,957 12,247 22.1 13,529 54,238 45,677 18.7
Silverstream (koz) 1,059 1,069 -0.9 1,084 4,435 4,625 -4.1
Total Silver (koz) 16,015 13,316 20.3 14,613 58,673 50,303 16.6
Gold (oz) 233,051 268,104 -13.4 233,311 911,132 935,513 -2.6
Lead (t) 12,836 13,003 -1.3 12,472 48,153 48,144 0.0
Zinc (t) 18,852 16,989 11.0 17,688 65,266 56,845 14.8

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

Operational Highlights (FY17)

Maximising value of existing assets;
  • Record annual silver production of 58.7 moz (including Silverstream) up 16.6% vs. 2016, in line with guidance primarily as a result of the first complete year of San Julián (phase I) operating at full capacity and the start-up of operations at San Julián (phase II)
  • Annual gold production of 911.1 koz exceeded guidance principally as a result of the full year operations at San Julián (phase I). Gold production slightly decreased -2.6% vs. 2016 due to the expected lower reduction of gold inventories and the anticipated lower ore grade deposited at the leaching pads at Herradura.
  • Construction of the San Julián mine now finished with the completion of San Julián Phase II. We expect the mine to achieve average annual production of 14.2 moz of silver and 49.3 koz of gold. San Julián Phase II was commissioned on budget, and the project reached nameplate capacity as expected in Q3, highlighting our ability to bring new mining projects to fruition.
  • Performance at the Fresnillo mine improved with full year silver production up 4.1% over 2016, but further actions taken to ensure a sustained improvement.