Ciénega (incl. San Ramón satellite)

Ciénega is our most polymetallic mine, contributing almost 6.5% to total gold production and over 10.3% to total silver production. The mine generated 8.0% of total adjusted revenue during 2021.

Ownership: 100% Fresnillo plc
Location: Durango
Commodity: Gold, Silver
Operational since: 1992
Facilities: Underground mine, flotation and leaching plant
Workforce: 561 employees, 961 contractors
Milling Capacity: 4,000 tpd / 1,340,000 tpy
Mine Life: 4.2 (2020 3.4)

Quarterly Production

     

  2Q22 1Q22 % change 2Q21
Ore processed (t) 280,526 282,568 (0.7) 333,959
         
Production        
Gold (oz) 8,917 9,990 (10.7) 12,406
Silver (koz) 1,069 1,416 (24.5) 1,425
Lead (g/t) 758 926 (18.1) 964
Zinc (g/t) 1,245 1,351 (7.9) 1,669
Ore grades        
Gold (g/t) 1.08 1.20 (10.1) 1.24
Silver (g/t) 138 179 (23.0) 154
Lead % 0.43 0.50 (14.5) 0.49
Zinc % 0.79 0.85 (6.6) 0.91

History

1987

Drilling commenced

1992

Construction commenced

1995

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

Production

Gold (oz)

48,819 (FY21) % (23.8) Change

Silver (koz)

5,447 (FY21) % (5.5) Change

Lead (t)

3,947 (FY21) % (35.4) Change

Zinc (t)

6,373 (FY21) % (31.2) Change

Financial Highlights

Adjusted Revenue (US$m, FY21)

227.8 % (8.3) Change

Segment Profit (US$m, FY21)

106.5 % (17.8) Change

Captial Expenditure (US$m, FY21)

45.4 % 29.3 Change

Exploration (US$m, FY21)

8.2 % 26.2 Change

2Q22

  • Quarterly gold and silver production decreased 10.7% and 24.5% vs. 1Q22, respectively, primarily due to a lower ore grade as a higher proportion of ore from the main Ciénega mine was processed, as opposed to processing ore from a satellite operation in the surrounding area with a higher average ore grade.

  • Quarterly gold and silver production decreased 28.1% and 24.9% vs. 2Q21, respectively, due to a lower volume of ore processed given the continued impact of the labour reform in Mexico, in addition to the lower ore grades.

  • First half gold production decreased 29.2% vs. 1H21, due to the lower ore grade year-on-year, and lower volume of ore processed for reasons explained above. First half silver production decreased 8.7% vs. 1H21 due to a lower volume of ore processed, mitigated by a higher ore grade.

  • Gold and silver ore grades for 2022 are expected to remain in the range of 1.20-1.40 g/t and 145-155 g/t respectively.