Fresnillo
One of the world’s oldest continuously operated mines, the Fresnillo mine has been producing silver for more than five centuries; and recently producing 24% of the Group's total silver in 2019 and generating 15.9% of total adjusted revenue.
| Ownership: |
100% Fresnillo plc |
| Location: |
Zacatecas |
| Commodity: |
Silver |
| Operational since: |
1554 |
| Facilities: |
Underground mine and flotation plant |
| Workforce: |
1,183 employees, 2,274 contractors |
| Milling Capacity: |
8,000 tpd / 2,640,000 tpy |
| Average ore grade in reserves: |
234 Silver (g/t), 0.76 Gold (g/t) |
| Total Reserves: |
149.3 Silver (moz), 483 Gold (oz) |
| Mine Life: |
7.5 years (2018: 8.6) |
Quarterly Production
| |
4Q19
|
3Q19
|
% change
|
4Q18
|
|
Ore processed (t)
|
618,940
|
648,646
|
-4.6
|
571,330
|
| |
|
|
|
|
|
Production
|
|
|
|
|
|
Silver (koz)
|
3,192
|
3,408
|
-6.3
|
3,244
|
|
Gold (oz)
|
11,723
|
15,601
|
-24.9
|
10,437
|
|
Lead (t)
|
5,665
|
7,037
|
-19.5
|
3,867
|
|
Zinc (t)
|
9.348
|
10,225
|
-8.6
|
6,153
|
| |
|
|
|
|
|
Ore grades
|
|
|
|
|
|
Silver (g/t)
|
181
|
183
|
-1.1
|
199
|
|
Gold (g/t)
|
0.82
|
0.99
|
-17.2
|
0.76
|
|
Lead %
|
1.08
|
1.24
|
-12.9
|
0.79
|
|
Zinc %
|
2.10
|
2.14
|
-1.9
|
1.52
|
Annual Production
History
1961
Peñoles acquires 60% interest in Cia Fresnillo
1996
Peñoles acquires remaining 40% interest in Cia Fresnillo
2004
Mill capacity is increased from 4,500 to 7,000 tpd
Production
Silver
(koz)
13,007
(FY19)
% (14.0) Change
Gold
(oz)
52,259
(FY19)
% 23.6 Change
Lead
(t)
21,472
(FY19)
% 9.4 Change
Zinc
(t)
31,530
(FY19)
% 1.4 Change
Financial Highlights
Adjusted Revenue
(US$m, FY19)
361.7
% (4.4) Change
Segment Profit
(US$m, FY18)
211.5
% (16.1) Change
Capital Expenditure
(US$m, FY19)
172.8
% 42.7 Change
Exploration
(US$m, FY19)
13.3
% (26.9) Change
FY19
-
Operational action plan developed and implemented
-
Development rates improved - 3,026m/m
-
Peruvian contractor hired at year end
-
Tunnel Boring Machine (TBM) commissioned at year end
-
126,000 metres of infill drilling carried out
-
Deeping of the San Carlos shaft continued, on track to be concluded end of 2020
2020 Priorities
- Infill drilling programme to continue (84-90 mts).
- Development rates to be improved; target 3,500 - 3,800 m/m by year end
- Dilution expected to decrese to 34%
- Continue implementing initiatives to increase productivity and efficiency
- Ramp up TBM in 1Q20 and targeting and average 300 m/m thereafter
- Conclude the deepening of the San Carlos shaft by year end; access 56% of Fresnillo reserves
- Commission the tailings flotation plant in 2H20 (Pyrites plant project phase II)
- Conclude 2nd stage of beneficiation plant expansion, installation of flotation cells
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