Herradura

One of Mexico’s largest open-pit gold mines; producing 56.1% of the Group’s total gold (2021) and generating 27.1% of total adj. rev.

Ownership: Minera Penmont (100% Fresnillo plc)
Location: Sonora
Commodity: Gold
Operational since: 1997
Facilities: Open-pit, heap leach & Merrill-Crowe plants; two dynamic leaching plants (DLP)
Workforce: 1,629 employees, 1,129 contractors
Mine Life: 12.6 years (2019: 11.7)

Quarterly Production

  1Q22 4Q21 % change 1Q21
Ore processed (t) 4,216,598 4,271,069 (1.3) 6,011,862
Total vol. hauled (t) 32,784,771 33,115,154 (1.0) 33,501,176
         
Production        
Gold (oz) 77,602 69,177 12.2 149,175
Silver (koz) 218 168 29.2 303
         
Ore grades        
Gold (g/t) 0.69 0.65 5.8 0.92
Silver (g/t) 2.25 1.91 17.5 2.30

History

1991

Drilling commenced

1997

Construction commenced

1998

Commercial production

Production

Gold (oz)

421,535 (FY21) % (0.9) Change

Silver (koz)

926 (FY21) % (29.1) Change

Financial Highlights

Adjusted Revenue (US$m, FY21)

770.8 % (1.0) Change

Segment Profit (US$m, FY21)

285.3 % (28.8) Change

Captial Expenditure (US$m, FY21)

54.4 % 80.1 Change

Exploration (US$m, FY21)

19.0 % 8.0 Change

1Q22

  • Quarterly gold production increased 12.2% vs. 4Q21 mainly due to an increased rate of solution flow following the short term disruption caused in the prior quarter due to the increased silt in solution restricting filtering capacity.

  • Quarterly gold production decreased 48.0% vs. 1Q21 due to a lower volume of ore processed in line with the mine plan as a result of larger haulage cycles and a lower ore grade in line with expectations.

  • The gold ore grade in 2022 is estimated to remain in the range of 0.65-0.75 g/t.