Herradura
One of Mexico’s largest open-pit gold mines; producing 55.3% of the Group’s total gold (2020) and generating 29.9% 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
| |
2Q21
|
1Q21
|
% change
|
2Q20
|
|
Ore processed (t)
|
5,482,544
|
6,011,862
|
(8.8)
|
3,283,104
|
|
Total vol. hauled (t)
|
33,153,978
|
33,501,176
|
(1.0)
|
18,942,659
|
| |
|
|
|
|
|
Production
|
|
|
|
|
|
Gold (oz)
|
108,990
|
149,175
|
(26.9)
|
95,253
|
|
Silver (koz)
|
227
|
303
|
(25.0)
|
300
|
| |
|
|
|
|
|
Ore grades
|
|
|
|
|
|
Gold (g/t)
|
0.68
|
0.92
|
(26.2)
|
0.90
|
|
Silver (g/t)
|
1.74
|
2.30
|
(24.2)
|
3.28
|
Annual Production
12020 reserves as of 31 May 2020. 22020 resources as of 31 May 2020
History
1997
Construction commenced
1998
Commercial production
Production
Gold
(oz)
425,288
(FY20)
% (11.9) Change
Silver
(koz)
1,306
(FY20)
% (16.5) Change
Financial Highlights
Adjusted Revenue
(US$m, FY20)
778.9
% 12.2 Change
Segment Profit
(US$m, FY20)
400.5
% 83.1 Change
Captial Expenditure
(US$m, FY20)
30.2
% (19.5) Change
Exploration
(US$m, FY20)
17.6
% (37.4) Change
2Q21
-
Quarterly gold production decreased 26.9% vs. 1Q21 due to a lower ore grade processed at the Dynamic Leaching Plant (DLP), in line with our expectations, and a decrease in the volume of ore processed as a result of the temporary stoppage of the DLP in April in order to change screens and grids. This was mitigated by improved recovery rates.
-
Quarterly gold production increased 14.4% vs. 2Q20 due to a higher volume of ore deposited in 2Q21 as Covid-19 operational restrictions resulted in lower volumes of ore deposited during 2Q20. This was partially offset by a lower ore grade when compared to 2Q20, when we had access to a higher ore grade area, and a slower recovery rate.
-
First half gold production increased 25.5% vs. 1H20 due to a higher volume of ore processed, partially offset by the lower recovery rate resulting from a slower speed of recovery on the leaching pads.
- The gold ore grade in 2021 is expected to remain in the range of 0.70-0.75 g/t, despite the ore grade in 1H21 being above this guidance.
2021 Objectives
- Conclude the Carbon in Column project.
- Advance the construction of the 14th leaching pad.
- Improve dust suppression at the loading areas.
- Hire additional personnel to increase utilisation rate of our haulage fleet.
- Maintain comparative costs.
- Reduce maintenance times.
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