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 Quarterly Production

 

4Q18

4Q17

% change

3Q18

YTD18

YTD17

% change

Silver (koz)

14,647

14,957

-2.1

14,738

58,079

54,238

7.1

Silverstream (koz)

860

1,059

-18.8

796

3,725

4,435

-16.01

Total Silver (koz)

15,507

16,015

-3.2

15,533

61,804

58,673

5.3

Gold (oz)

232,026

232,051

-0.0

225,202

922,527

911,132

1.3

Lead (t)

15,252

12,836

18.8

13,076

53,181

48,153

10.4

Zinc (t)

24,531

18,852

30.1

22,935

88,520

65,266

35.6

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.

AR17 Silver Gold Reserves

*Source: Fresnillo 2017 Annual Report - Annual Silver / Gold production


Operational Highlights - FY18

  • Record annual silver production of 61.8 moz (including Silverstream) up 5.3% vs. 2017

  • Annual gold production of 922.5 koz, up 1.3% vs. 2017

  • Commissioned 1st Stage of Pyrites plant and the 2nd DLP at Herradura

  • Exploration spend of US$172.8 million, up 22.5% YoY with good results at the Guanajuato and Rodeo projects, as well as positive steps taken at two projects in Chile

  • Silver resources of 2.2 billion ounces and gold resources of 39.1 million ounces

  • New COO & Assistant Vice President of Project Development

Outlook - 2019

  • Silver production expected to be slightly lower, in the range of 58 to 61 moz, including the Silverstream.

  • Gold production expected to be flat, in the range of 910-930 koz.

  • 2019 exploration budget of approximately US$140 million (including capitalised exploration expenses).

  • Capital expenditure is anticipated to be approximately US$710 million