Noche Buena
Acquired in 2008 from Seabridge as part of the Group’s district consolidation strategy; located in Herradura District 23km from the Herradura mine. Noche Buena produced 12.9% of the Group’s total gold in 2021 and generated 6.0% of total adjusted revenue.
| Ownership: |
Minera Penmont (100% Fresnillo plc) |
| Location: |
Sonora |
| Commodity: |
Gold |
| Operational since: |
2012 |
| Facilities: |
Open pit mine, heap leach, Merrill Crowe plant and Carbon in Column process |
| Workforce: |
447 employees, 251 contractors |
| Mine Life: |
1.5 (2020: 3.1) |
Quarterly Production
| |
1Q22 |
4Q21 |
% change |
1Q21 |
| Ore processed (t) |
1,789,478 |
2,903,023 |
(38.4) |
1,173,414 |
| Total vol. hauled (t) |
5,178,188 |
6,482,783 |
(20.1) |
6,663,112 |
| |
|
|
|
|
| Production |
|
|
|
|
| Gold (oz) |
21,869 |
28,591 |
(23.5) |
14,665 |
| Silver (koz) |
8 |
11 |
(27.5) |
5 |
| |
|
|
|
|
| Ore grades |
|
|
|
|
| Gold (g/t) |
0.62 |
0.70 |
(10.6) |
0.48 |
| Silver (g/t) |
0.31 |
0.20 |
55.5 |
0.21 |
History
2008
Acquired through Penmont JV
2009
Exploration commenced
2011
Construction commenced
Production
Gold
(oz)
96,835
(FY21)
% 10.0 Change
Silver
(koz)
32
(FY21)
% (17.9) Change
Gold ore grade
(g/t)
0.59
(FY21)
% 13.5 Change
Total Reserves
(koz)
216
(FY21)
% (33.7) Change
Financial Highlights
Adjusted Revenue
(US$m, FY21)
169.9
% 11.3 Change
Segment Profit
(US$m, FY21)
77.2
% 43.8 Change
Capital Expenditure
(US$m, FY21)
0.4
% (98.0) Change
Exploration
(US$m, FY21)
1.1
% (31.3) Change
1Q22
-
Quarterly gold production decreased 23.5% vs. 4Q21 due to an expected lower volume of ore processed and ore grade. This was mitigated through the recovery of inventories at the pads.
-
Quarterly gold production increased 49.1% vs. 1Q21 due to a higher volume of ore deposited as a result of a lower stripping ratio, decreasing the waste material moved, in addition to a higher ore grade, partially offset by a lower recovery rate due to shorter irrigation cycles as a result of the ore being deposited in smaller areas as we approach the end of mine life.
- The 2022 estimated gold ore grade remains in the range of 0.40-0.50 g/t, as the mine approaches the end of its operational life.
