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 12.5% of the Group’s total gold (2022) and generated 5.5% 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: 407 employees, 186 contractors
Mine Life: 0.8 (2021: 1.5)

Quarterly Production

  1Q23 4Q22 % change 1Q22
Ore processed (t) 1,711,348 1,232,125 38.9 1,789,478
Total vol. hauled (t) 6,595,264 7,296,832 (9.6) 5,178,188
         
Production        
Gold (oz) 11,078 13,331 (16.9) 21,869
Silver (koz) 4 3 41.4 8
         
Ore grades        
Gold (g/t) 0.48 0.51 (5.6) 0.62
Silver (g/t) 0.15 0.21 (26.9) 0.31

History

2008

Acquired through Penmont JV

2009

Exploration commenced

2011

Construction commenced

Production

Gold (oz)

79,669 (FY22) % (17.7) Change

Silver (koz)

20 (FY22) % (37.5) Change

Gold ore grade (g/t)

0.53 (FY22) % (10.2) Change

Total Reserves (koz)

92 (FY22) % (57.4) Change

Financial Highlights

Adjusted Revenue (US$m, FY22)

143.8 % (15.4) Change

Segment Profit (US$m, FY22)

44.4 % (42.5) Change

Capital Expenditure (US$m, FY22)

0.4 % 0.0 Change

Exploration (US$m, FY22)

1.4 % (17.6) Change

1Q23

  • Quarterly gold production decreased 16.9% vs. 4Q22 due to the lower recovery rate driven by higher leaching pads and the lower ore grade, partly offset by the higher volume of ore processed.

  • Quarterly gold production decreased 49.3% vs. 1Q22 due to the decrease in recovery rate as described above, and a lower ore grade and volume of ore processed.

  • 2023 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.