Noche Buena
Acquired in 2008 from Seabridge as part of the Group’s district consolidation strategy; commenced operations as an open-pit gold mine in 2012. Located in the Herradura District 23 kilometres from the Herradura mine. Noche Buena produced 18% of the Group’s total gold in 2018 and generated over 9% of total Adjusted revenue.
| Ownership: |
Minera Penmont (100% Fresnillo plc) |
| Location: |
Sonora |
| Commodity: |
Gold |
| Operational since: |
2012 |
| Facilities: |
Open-pit mine, heap leach and Merrill-Crowe plant |
| Workforce: |
513 employees, 553 contractors |
| Mine Life: |
1.9 years (2017: 2.8) |
Quarterly Production
| |
1Q19 |
1Q18 |
% change |
4Q18 |
| Ore processed (t) |
2,911,779 |
4,414,790 |
-34.0 |
4,395,527 |
| Total vol. hauled (t) |
12,980,551 |
20,521,239 |
-36.7 |
17,220,712 |
| |
|
|
|
|
| Production |
|
|
|
|
| Gold (oz) |
30,134 |
42,735 |
-29.5 |
36,705 |
| Silver (oz) |
12 |
19 |
-35.1 |
9 |
| |
|
|
|
|
| Ore grades |
|
|
|
|
| Gold (g/t) |
0.50 |
0.52 |
-3.9 |
0.50 |
| Silver (g/t) |
0.22 |
0.22 |
-1.3 |
0.09 |
History
2008
Acquired through Penmont JV
2009
Exploration commenced
2011
Construction commenced
Production
Gold
(oz)
167,208
(FY18)
% (2.9) Change
Silver
(koz)
52
(FY18)
% 67.7 Change
Ore grade
(g/t)
0.52
(FY18)
% 0.0 Change
Ore dep.
(kt)
18,196
(FY18)
% 2.1 Change
Financial Highlights
Adjusted Revenue
(US$m, FY18)
211.4
% (1.9) Change
Segment Profit
(US$m, FY18)
85.9
% 13.8 Change
Capital Expenditure
(US$m, FY18)
50.2
% 168.4 Change
Exploration
(US$m, FY18)
3.0
% (47.4) Change
Highlights - 1Q19
-
Quarterly gold production decreased 29.5% vs. 1Q18 due to a lower volume of ore processed, but in accordance to the mine plan, and to a lesser extent, lower ore grade. This was mitigated by a higher speed of recovery as ore was deposited in new areas of the leaching pads at a lower altitude.
-
Similarly, gold production decreased 17.9% vs. 4Q18 resulting from a lower volume of ore processed, mitigated by a higher overall speed of recovery.
-
Expected gold ore grade in 2019 remains at approximately 0.55 g/t.
2018 - Summary
-
Contained costs
-
Production was higher than expected due to a higher ore grade & higher volume of ore processed
-
Continued to explore areas of influence, which continued to show limited upside
- Construction of a Carbon in Column process facility commenced
Performance Targets - 2019
- Maximise production, maintain comparative low cash cost profile
- Complete construction of leaching pad number 7
- Implement the activated carbon project for the Merrill Crowe plant tailings to increase recovery
- Prepare mine closure plan
|
