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 primary

2016

*Operations at Soledad-Dipolos currently suspended.

Total Production

 

2Q22

1Q22

% change

2Q21

% change

1H22

1H21

% change

Silver (koz)

13,664

12,528

9.1

14,092

(3.0)

26,192

25,931

1.0

Silverstream (koz)

692

748

(7.5)

803

(13.8)

1,440

1,599

(9.9)

Total Silver (koz)

14,356

13,276

8.1

14,895

(3.6)

27,632

27,530

0.4

Gold (oz)

158,960

149,792

6.1

200,163

(20.6)

308,752

428,356

(27.9)

Lead (t)

14,535

12,244

18.7

16,386

(11.3)

26,779

31,726

(15.6)

Zinc (t)

26,808

23,726

13.0

27,687

(3.2)

50,533

53,568

(5.7)

Operational Highlights - 2Q22


Silver

  • Quarterly attributable silver production of 14.4 moz (including Silverstream), up 8.1% vs. 1Q22 driven by a higher volume of ore processed and higher ore grades at Fresnillo and Saucito and a higher ore grade at San Julián Disseminated Ore Body (DOB).
  • Quarterly attributable silver production (including Silverstream) decreased 3.6% vs. 2Q21 due to the expected lower ore grade and decreased volume of ore processed at San Julián DOB. This was mitigated by the increased contribution of ore from Juanicipio.
  • First half attributable silver production of 27.6 moz (including Silverstream), in line with 1H21 as the expected lower ore grade at San Julián DOB and lower volume of ore processed at Saucito was offset by the increased contribution of ore from Juanicipio.

Gold

  • Quarterly attributable gold production of 159.0 koz, up 6.1% vs. 1Q22, primarily due to the expected higher volume of ore processed at Herradura and Noche Buena.
  • Quarterly attributable gold production decreased 20.6% vs. 2Q21 mainly due to a lower recovery rate and the expected decrease in the volume of ore processed at Herradura.
  • First half attributable gold production of 308.8 koz, down 27.9% vs. 1H21 primarily due to a decrease in the volume of ore processed and lower ore grade at Herradura and Saucito.

By-products

  • Quarterly attributable by-product lead and zinc production increased 18.7% and 13.0% vs. 1Q22 respectively, driven primarily by higher volumes of ore processed and ore grades at Saucito and Fresnillo and higher ore grades at San Julián DOB.
  • Quarterly attributable by-product lead and zinc production decreased 11.3% and 3.2% vs. 2Q21 respectively, due to lower volumes of ore processed and lower ore grades at Saucito and San Julián DOB.
  • Similarly, first half attributable by-product lead and zinc production decreased 15.6% and 5.7% vs. 1H21 respectively, primarily due to lower volumes of ore processed and ore grades at Saucito and a decrease in ore grades at San Julián DOB.

Development Projects

We expect to complete the tie-in of the Juanicipio plant and Pyrites Plant at Fresnillo to the national electricity grid in the coming weeks. Commissioning of the Juanicipio plant will follow soon after with the ramp up of the plant beginning towards the end of the third quarter.

2022 Outlook

We remain on track to meet our 2022 full year guidance of 50.5 to 56.5 moz of attributable silver (including Silverstream) and 600 to 650 koz of attributable gold production.