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
| |
2Q19 |
1Q19 |
% change |
2Q18 |
| Ore processed (t) |
3,663,549 |
2,911,779 |
25.8 |
4,550,915 |
| Total vol. hauled (t) |
13,135,058 |
12,980,551 |
1.2 |
22,073,319 |
| |
|
|
|
|
| Production |
|
|
|
|
| Gold (oz) |
35,252 |
30,134 |
17.0 |
45,308 |
| Silver (oz) |
17 |
12 |
41.7 |
18 |
| |
|
|
|
|
| Ore grades |
|
|
|
|
| Gold (g/t) |
0.56 |
0.50 |
12.0 |
0.54 |
| Silver (g/t) |
0.22 |
0.22 |
0.0 |
0.18 |
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 - 2Q19
-
Quarterly gold production increased 17.0% vs. 1Q19 due to a higher volume of ore processed in accordance with mine plan and a higher ore grade, offset by a lower overall speed of recovery as a result of the increased height of the leaching pads.
-
Quarterly and 1H production decreased 22.2% and 25.7% vs. 2Q18 and 1H18, respectively due to lower volume of ore processed, but in accordance with mine plan. Lower speed of recovery further impacted quarterly gold production.
-
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
|
