Herradura

One of Mexico’s largest open-pit gold mines, producing 52.0% of the Group's total gold in 2017 and generating 27.2% of total adj. 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

  1Q18 1Q17 % change 4Q17
Ore processed (t) 5,984,641 6,764,370 -11.5 6,373,732
Total vol. hauled (t) 34,153,768 30,908,154 10.5 34,620,672
         
Production        
Gold (oz) 125,243 107,742 16.2 117,891
Silver (koz) 241 118 104.2 172
         
Ore grades        
Gold (g/t) 0.68 0.63 6.9 0.68
Silver (g/t) 1.86 0.95 95.0 1.28

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

Perfomance Highlights - 1Q18

  • Quarterly gold production increased 16.2% vs. 1Q17 due to an increase in the inventory reduction at the leaching pads which resulted from an intensive targeted irrigation programme and, to a lesser extent, a higher speed of recovery at the DLP. This increase was partially offset by a lower volume of ore processed.
  • Quarterly gold production increased 6.2% vs. 4Q17 as a result of the increase in inventory reduction mentioned above which was partially offset by the lower volume of ore processed.

Performance Targets - 2018

  • Commission the second line at the DLP
  • Continue exploration to strengthen the Centauro expansion project