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

  2Q22 1Q22 % change 2Q21
Ore processed (t) 5,301,678 4,216,598 25.7 5,482,544
Total vol. hauled (t) 31,548,611 32,784,771 (3.8) 33,153,978
         
Production        
Gold (oz) 83,043 77,602 7.0 108,990
Silver (koz) 169 218 (22.3) 227
         
Ore grades        
Gold (g/t) 0.67 0.69 (2.7) 0.68
Silver (g/t) 1.49 2.25 (33.6) 1.74

History

1991

Drilling commenced

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

2Q22

  • Quarterly gold production increased 7.0% vs. 1Q22 mainly due to a higher volume of ore processed due to a higher utilisation rate of the mining fleet, partially offset by a lower recovery rate.

  • Quarterly gold production decreased 23.8% vs. 2Q21 due to a lower recovery rate, as increased volumes of sulphide ore are processed.

  • First half gold production decreased 37.8% vs. 1H21 due to an expected lower volume of ore processed and ore grade, in line with the mine plan.
  • Gold ore grade in 2022 is expected to remain in the range of 0.65-0.75 g/t.