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
| |
3Q21 |
2Q21 |
% change |
3Q20 |
| Ore processed (t) |
4,546,401 |
5,482,544 |
(17.1) |
4,791,585 |
| Total vol. hauled (t) |
33,068,512 |
33,153,978 |
(0.3) |
28,017,785 |
| |
|
|
|
|
| Production |
|
|
|
|
| Gold (oz) |
94,193 |
108,990 |
(13.6) |
85,102 |
| Silver (koz) |
228 |
227 |
0.3 |
251 |
| |
|
|
|
|
| Ore grades |
|
|
|
|
| Gold (g/t) |
0.76 |
0.68 |
11.2 |
0.72 |
| Silver (g/t) |
2.24 |
1.74 |
28.7 |
2.18 |
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
3Q21
-
Quarterly gold production decreased 13.6% vs. 2Q21 due to a lower volume of ore processed and lower recovery rates at the leaching pads, caused by heavier than normal rainfall, which resulted in increased silt restricting the filter capacity at the plant. This has no impact on full year production as the gold in the pregnant solution remains in the circuit and will be recovered in the following months. Further, corrective maintenance to the SAG mills in one of the dynamic leaching plants impacted the volumes of ore processed during the quarter. This was mitigated by a higher ore grade.
-
Quarterly gold production increased 10.7% vs. 3Q20 due to a higher recovery rate as the effects of Covid-19 operational restrictions in 2Q20 last year impacted the recovery cycles at the leaching pads during 3Q20, and to a lesser extent, a higher ore grade in the quarter.
-
Year-to-date gold production increased 21.1% vs. YTD20 due to a higher volume of ore processed following the Covid-19 operational restrictions last year, partially offset by 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 being above this guidance YTD.
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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