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

AR18 Noche Buena Mine Production

AR18 Noche Buena Financial Performance

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

1H19

  • Contained costs.

  • Construction of leaching pad 7 continued.

  • Commissioned the Carbon in Column process facility.

  • Mine closure plan advanced.

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. 

2H19 Priorities

  • Maximise production, maintain comparative low cash cost profile.
  • Complete construction of leaching pad number 7, expected by year end.
  • Continue to prepare the mine for closure.