Ciénega (incl. San Ramón satellite)

Ciénega is our most polymetallic mine, contributing 5.9% to total gold production and 8.8% to total silver production. The mine generated 6.9% of total adjusted revenue during 2022.

Ownership: 100% Fresnillo plc
Location: Durango
Commodity: Gold, Silver
Operational since: 1992
Facilities: Underground mine, flotation and leaching plant
Workforce: 649 employees, 1,172 contractors
Milling Capacity: 4,000 tpd / 1,340,000 tpy
Mine Life: 4.2 (2021: 4.2)

Quarterly Production

     

  1Q23 4Q22 % change 1Q22
Ore processed (t) 240,148 256,928 (6.5) 282,568
         
Production        
Gold (oz) 9,302 9,122 2.0 9,990
Silver (koz) 980 982 (0.2) 1,416
Lead (g/t) 748 930 (19.6) 926
Zinc (g/t) 1,002 1,372 (27.0) 1,351
Ore grades        
Gold (g/t) 1.30 1.20 8.5 1.20
Silver (g/t) 147 139 5.9 179
Lead % 0.47 0.56 (14.7) 0.50
Zinc % 0.77 0.94 (18.2) 0.85

History

1987

Drilling commenced

1992

Construction commenced

1995

First full year of production, with 300,000 tpy capacity

Production

Gold (oz)

37,466 (FY22) % (23.3) Change

Silver (koz)

4,709 (FY22) % (13.5) Change

Lead (t)

3,518 (FY22) % (10.9) Change

Zinc (t)

5,387 (FY22) % (15.5) Change

Financial Highlights

Adjusted Revenue (US$m, FY22)

180.3 % (20.9) Change

Segment Profit (US$m, FY22)

39.6 % (62.8) Change

Captial Expenditure (US$m, FY22)

47.0 % 3.5 Change

Exploration (US$m, FY22)

9.6 % 17.1 Change

1Q23

  • Quarterly gold production increased 2.0% vs. 4Q22 due to a higher ore grade as a result of the positive variation with the geological model. This was partly offset by the lower volume of ore processed which resulted from the longer than expected maintenance programme and delay in the preparation of stopes driven by the reduced availability of equipment. These factors are expected to improve in the coming months, thus increasing volumes of ore processed by 3Q23.

  • Quarterly gold production decreased 6.9% vs. 1Q22 mainly due to the lower volume of ore processed in accordance to the mine plan, mitigated by the higher ore grade as a result of the previously mentioned factors.

  • Quarterly silver production remained flat vs. 4Q22 mainly as a result of the higher ore grade, offset by the lower volume of ore processed.

  • Quarterly silver production decreased 30.8% vs. 1Q22 due to the lower ore grade as a result of higher dilution in narrow veins and decreased volumes of ore processed.

  • The gold and silver ore grades for 2023 are estimated to remain in the ranges of 1.0-1.1 g/t and 150-160 g/t respectively.