Herradura
One of Mexico’s largest open-pit gold mines; producing 51.4% of the Group’s total gold (2018) 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; DLP |
| Workforce: |
1,500 employees, 516 contractors |
| Mine Life: |
13.2 years (2017: 11.6) |
Quarterly Production
| |
3Q19
|
2Q19
|
% change
|
3Q18
|
|
Ore processed (t)
|
5,591,746
|
5,466,791
|
2.3
|
5,859,579
|
|
Total vol. hauled (t)
|
33,396,651
|
32,100,458
|
4.0
|
29,718,422
|
| |
|
|
|
|
|
Production
|
|
|
|
|
|
Gold (oz)
|
102,439
|
119.987
|
-14.6
|
109,630
|
|
Silver (koz)
|
412
|
280
|
47.4
|
492
|
| |
|
|
|
|
|
Ore grades
|
|
|
|
|
|
Gold (g/t)
|
0.71
|
0.84
|
-16.0
|
0.76
|
|
Silver (g/t)
|
3.27
|
2.48
|
31.4
|
3.05
|
History
1997
Construction commenced
1998
Commercial production
Production
Gold
(oz)
474,168
(FY18)
% 0.1 Change
Silver
(koz)
1,523
(FY18)
% 176.4 Change
Financial Highlights
Adjusted Revenue
(US$m, FY18)
608.2
% 0.2 Change
Segment Profit
(US$m, FY18)
323.0
% (9.2) Change
Captial Expenditure
(US$m, FY18)
116.0
% (24.3) Change
Exploration
(US$m, FY18)
33.0
% 21.8 Change
1H19
-
Construction of the 13th leaching pad concluded and irrigation commenced.
-
Infill drilling in the Centauro pit continued - Pit expansion continues to be reviewed on an on-going basis.
-
Positive results following dual fuel systems pilot for haulage equipment – further rollout on-going.
3Q19
-
Quarterly gold production decreased 14.6% vs. 2Q19 due to a temporary lower ore grade resulting from lower availability of the dynamic leaching plant, partly mitigated by a higher volume of ore processed.
-
Quarterly gold production decreased 6.6% vs. 3Q18 driven by a lower ore grade and a decrease in the volume of ore deposited due to the expected higher stripping ratio. This was partly mitigated by a higher speed of recovery.
-
Year to date gold production decreased 3.8% vs. YTD18 driven by a lower volume of ore processed and a slower overall speed of recovery, as set out in the prior quarters.
-
The 13th leaching pad started operations in 3Q19 and is expected to improve the overall speed of recovery in 4Q19.
- Expected gold ore grade in 2019 remains at 0.70-0.75 g/t.
2H19 Priorities
- 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.
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