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 11.4% of the Group’s total gold in 2020 and generated 6.2% 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: |
482 employees, 322 contractors |
| Mine Life: |
3.1 years (2019: 2.4) |
Quarterly Production
| |
2Q21 |
1Q21 |
% change |
2Q20 |
| Ore processed (t) |
2,530,510 |
1,173,414 |
115.7 |
1,366,909 |
| Total vol. hauled (t) |
6,585,098 |
6,663,112 |
(1.2) |
5,612,622 |
| |
|
|
|
|
| Production |
|
|
|
|
| Gold (oz) |
28,564 |
14,665 |
94.8 |
24,643 |
| Silver (oz) |
8 |
5 |
67.4 |
9 |
| |
|
|
|
|
| Ore grades |
|
|
|
|
| Gold (g/t) |
0.53 |
0.48 |
10.6 |
0.54 |
| Silver (g/t) |
0.17 |
0.21
|
(17.6) |
0.54 |
Annual Production
12020 reserves as of 31 May 2020. 22020 resources as of 31 May 2020.
History
2008
Acquired through Penmont JV
2009
Exploration commenced
2011
Construction commenced
Production
Gold
(oz)
87,998
(FY20)
% (30.8) Change
Silver
(koz)
39
(FY20)
% (32.0) Change
Gold ore grade
(g/t)
0.52
(FY20)
% (5.7) Change
Total volume hauled
(kt)
34,914
(FY20)
% (27.0) Change
Financial Highlights
Adjusted Revenue
(US$m, FY20)
152.6
% (13.6) Change
Segment Profit
(US$m, FY20)
53.7
% (7.9) Change
Capital Expenditure
(US$m, FY20)
19.7
% 245.6 Change
Exploration
(US$m, FY20)
1.6
% 45.4 Change
2Q21
-
Quarterly gold production increased 94.8% vs. 1Q21 due to an increase in the volume of ore deposited and higher ore grade as access to deeper areas of the pit is being regained following the minor landslip in 2H20. This was partially offset by a lower recovery rate.
-
Quarterly gold production increased 15.9% vs. 2Q20 due to a higher volume of ore deposited following the Covid-19 related operational restrictions last year which resulted in lower volumes of ore deposited during 2Q20, partially offset by a lower recovery rate in 1H21 vs. the one achieved in 1H20 when increased irrigation on the pads resulted in a higher speed of recovery.
- First half gold production decreased 11.2% vs. 1H20 due to a lower recovery rate and to a lesser extent, lower ore grade as a result of the expected depletion of the mine as it approaches closure. This was mitigated by a higher volume of ore processed.
- The expected gold ore grade in 2021 is predicted to remain in the range of 0.40-0.50 g/t.
2021 Objectives
- Maintain comparative cash cost profile.
- Adjust fixed costs to reflect the smaller operation as the mine nears closure.
- Commence implementation of the mine closure plan, while continuing to operate the Carbon in Column plant.
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