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
|
4Q22 |
3Q22 |
% change |
4Q21 |
Ore processed (t) |
7,084,437 |
5,592,474 |
26.7 |
4,271,069 |
Total vol. hauled (t) |
27,446,767 |
28,590,141 |
(4.0) |
33,115,154 |
|
|
|
|
|
Production |
|
|
|
|
Gold (oz) |
103,826 |
85,245 |
21.8 |
69,177 |
Silver (koz) |
191 |
199 |
(4.0) |
168 |
|
|
|
|
|
Ore grades |
|
|
|
|
Gold (g/t) |
0.71 |
0.71 |
0.0 |
0.65 |
Silver (g/t) |
1.35 |
1.71 |
(21.1) |
1.91 |
History
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
4Q22
-
Quarterly gold production increased 21.8% vs. 3Q22 due to increased volumes of ore processed as a result of positive variations with the geological model and faster recovery from ore deposited on the lower layers of leaching pad 14B.
-
Quarterly gold production was up 50.1% vs. 4Q21 due to the increased volume of ore processed for reasons explained above, and a higher ore grade driven by the positive variation with the geological model.
- Full year gold production decreased 17.0% vs. FY21 as a result of the expected decrease in ore grade and lower recovery rates as higher volumes of sulphide ore are processed, partly mitigated by the increase in volume of ore processed for the factors explained above.
-
The gold ore grade in 2023 is estimated to be in the range of 0.65-0.75 g/t.