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

  2Q22 1Q22 % change 2Q21
Ore processed (t) 2,594,599 1,789,478 45.0 2,530,510
Total vol. hauled (t) 8,105,466 5,178,188 56.5 6,585,098
         
Production        
Gold (oz) 25,234 21,869 15.4 28,564
Silver (koz) 6 8 (22.8) 8
         
Ore grades        
Gold (g/t) 0.53 0.62 (14.3) 0.53
Silver (g/t) 0.22 0.31 (30.1) 0.17

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

2Q22

  • Quarterly gold production increased 15.4% vs. 1Q22 due to an increase in the volume of ore deposited as a result of a better team performance, partially offset by a lower ore grade.

  • Quarterly gold production decreased 11.7% vs. 2Q21 due to a lower recovery rate.

  • First half gold production increased 9.0% vs. 1H21 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.
  • Expected gold ore grade in 2022 is expected to remain in the range of 0.40-0.50 g/t.