Herradura

One of Mexico’s largest open-pit gold mines; producing 52.0% of the Group's total gold (2017) and generating 27.2% of total adjusted revenue.

Ownership: Minera Penmont (100% Fresnillo plc)
Location: Sonora
Commodity: Gold
Operational since: 1997
Facilities: Open-pit, heap leach & Merrill-Crowe plants; DLP
Workforce: 1,335 employees, 458 contractors
Average ore grade in reserves: 0.79 Gold (g/t)
Total Reserves: 7.7 Gold (moz)
Mine Life: 11.6 (2016: 8.6)

Quarterly Production

 

4Q18

4Q17

% change

3Q18

Ore processed (t)

4,707,145

6,373,732

-26.1

5,859,579

Total vol. hauled (t)

26,592,044

34,620,672

-23.2

29,718,422

         

Production

       

Gold (oz)

121,409

117,891

3.0

109,630

Silver (koz)

427

172

148.6

492

         

Ore grades

       

Gold (g/t)

0.88

0.68

30.9

0.76

Silver (g/t)

3.64

1.28

184.6

3.05

History

1991

Drilling commenced

1997

Construction commenced

1998

Commercial production

Production

Gold (oz)

473,638 (FY17) % (9.0) Change

Silver (koz)

551 (FY17) % (13.6) Change

Financial Highlights

Adjusted Revenue (US$m, FY17)

606.8 % (7.5) Change

Segment Profit (US$m, FY17)

355.6 % (3.9) Change

Captial Expenditure (US$m, FY17)

153.2 % 94.4 Change

Exploration (US$m, FY17)

27.1 % (11.7) Change

2018 - Summary

  • The second line at the DLP was commissioned at the end of 2018

  • 102,592 metres of exploration drilling to strengthen metrics for the Centauro Pit expansion

  • Tests undertaken on the leaching pads confirmed additional gold content, resulting in an increase of 98.9 thousand ounces of gold as at 1 January 2018

  • The increase in resources/reserves led to a new pit design, resulting in the need to change from 2 to 1 components, resulting in an effect on costs

  • Pilot project to evaluate the use of dual fuel systems for haulage equipment

  • Installation of vibrating screens at the DLP Phase I

Performance Targets - 2019

  • Ramp-up of the second line at the DLP
  • Conclude construction of leaching pad number 13
  • Continue infill drilling in the Centauro pit to re-assess pit expansion
  • Drilling and exploration to continue at Centauro Deep and areas of influence
  • Continue gradual conversion of haulage equipment to a dual fuel system
  • Installation of tails thickener at the Dynamic Leaching Plants