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.