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.

Ownership: Minera Penmont (100% Fresnillo plc)
Location: Sonora
Commodity: Gold
Operational since: 2012
Facilities: Open-pit mine, heap leach and Merrill-Crowe plant
Workforce: 441 employees, 504 contractors
Average Ore Grade in Reserves: 0.51 Gold (g/t)
Mine Life: 2.8 years (2016: 3.2)

Quarterly Production

  3Q18 3Q17 % change 2Q18
Ore processed (t) 4,834,512 4,362,684 10.8 4,550,915
Total vol. hauled (t) 20,489,682 20,918,713 -2.1 22,073,319
         
Production        
Gold (oz) 42,460 33,409 27.1 45,308
Silver (oz) 5 6 -16.7 18
         
Ore grades        
Gold (g/t) 0.52 0.53 -0.9 0.54
Silver (g/t) 0.05 0.07 -34.4 0.18

History

2008

Acquired through Penmont JV

2009

Exploration commenced

2011

Construction commenced

Production

Gold (oz)

172,282 (FY17) % (5.5) Change

Silver (koz)

31 (FY17) % (6.1) Change

Ore grade (g/t)

0.52 (FY17) % 2.5 Change

Ore deposited (kt)

17,821 (FY17) % 2.2 Change

Financial Highlights

Adjusted Revenue (US$m, FY17)

215.5 % (4.6) Change

Segment Profit (US$m, FY17)

75.5 % (10.0) Change

Capital Expenditure (US$m, FY17)

18.7 % 117.4 Change

Exploration (US$m, FY17)

5.7 % 256.3 Change

Performance Highlights: 3Q18

  • Quarterly gold production increased 27.1% vs. 3Q17 as a result of higher speed of recovery due to the ore’s composition and the higher volume of ore processed. Quarterly gold production decreased 6.3% vs. 2Q18 as a result of lower speed of recovery and, to a lesser extent, lower ore grade. These factors were partially offset by the higher volume of ore processed.

  • Year to date gold production increased 5.9% vs. YTD17 due to higher volume of ore processed and higher ore grade. 

  • Expected gold ore grade for the full year is 0.50 g/t.

Performance Highlights: 1H18

  • Contained costs and continued to explore areas of influence, which continued to show limited upside

  • Detailed engineering for Carbon in Column facility initiated; expected to conclude by year end 2019

Performance Targets - 2H18

  • Maintain comparative low cash cost profile
  • Maximise production by extracting ore from the new areas