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

  4Q22 3Q22 % change 4Q21
Ore processed (t) 1,232,125 1,811,987 (30.0) 2,903,023
Total vol. hauled (t) 7,296,832 6,274,060 16.3 6,482,783
         
Production        
Gold (oz) 13,331 19,235 (30.7) 28,591
Silver (koz) 3 3 0.0 11
         
Ore grades        
Gold (g/t) 0.51 0.44 15.9 0.70
Silver (g/t) 0.21 0.16 31.3 0.20

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

4Q22

  • Quarterly gold production decreased 30.7% vs. 3Q22 due to expected decrease in volume of ore deposited as the mine approaches the end of its life and a lower recovery rate, partly mitigated by the higher ore grade.

  • Quarterly gold production decreased 53.4% vs. 4Q21 due to the decrease in ore processed and lower ore grade as the mine approaches the end of its life, partly compensated for by a higher recovery rate due to shorter irrigation cycles.

  • Full year gold production decreased 17.7% vs. FY21 due to a decreased volume of ore processed and lower ore grade consistent with end of mine life.
  • The 2023 estimated gold ore grade will remain in the range of 0.40-0.50g/t, as the mine approaches the end of its operational life.