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

     

  4Q22 3Q22 % change 4Q21
Ore processed (t) 256,928 294,210 (12.7) 301,968
         
Production        
Gold (oz) 9,122 9,437 (3.3) 10,596
Silver (koz) 982 1,242 (20.9) 1,401
Lead (g/t) 930 904 2.9 772
Zinc (g/t) 1,372 1,419 (3.3) 1,240
Ore grades        
Gold (g/t) 1.20 1.09 10.1 1.18
Silver (g/t) 139 152 (8.6) 165.6
Lead % 0.56 0.48 16.7 0.43
Zinc % 0.94 0.87 8.0 0.75

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

4Q22

  • Quarterly gold production was down 3.3% and 13.9% vs. 3Q22 and 4Q21 respectively, due to a lower volume of ore processed as a result of the non-scheduled minor technical stoppages at the SAG mill, and lower productivity from new personnel at the mine, mitigated by a higher ore grade.

  • Quarterly silver production decreased 20.9% and 29.9% vs. 3Q22 and 4Q21 respectively, due to a lower ore throughput for the reasons explained above, and a lower ore grade in line with the mine sequence.

  • Full year silver and gold production were down13.5% and 23.3% vs. FY21 respectively, due to the lower volumes of ore processed and a lower gold 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.

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