Saucito
One of our most important assets; contributing 23.4% to total silver production in 2021 and generated 21.0% of total adjusted rev.
| Ownership: |
100% Fresnillo plc |
| Location: |
Zacatecas 8km SW of the Fresnillo mine |
| Commodity: |
Silver, Gold |
| Operational since: |
2011 |
| Facilities: |
Underground mine and flotation plant |
| Workforce: |
1,015 employees, 2,363 contractors |
| Milling Capacity : |
7,800 tpd/2,600,000 tpy |
| Mine Life: |
7.3 (2020: 5.2) |
Quarterly Production
| |
1Q22 |
4Q21 |
% change |
1Q21 |
| Ore processed (t) |
495,419 |
558,101 |
(11.2) |
650,884 |
| |
|
|
|
|
| Production |
|
|
|
|
| Silver (koz) |
2,738 |
2,990 |
(8.4) |
3,148 |
| Gold (oz) |
16,388 |
17,719 |
(7.5) |
26,819 |
| Lead (g/t) |
4,264 |
4,272 |
(0.2) |
7,841 |
| Zinc (g/t) |
7,299 |
6,672 |
9.4 |
11,848 |
| Ore grades |
|
|
|
|
| Silver (g/t) |
193 |
186 |
3.5 |
177 |
| Gold (g/t) |
1.29 |
1.26 |
2.0 |
1.65 |
| Lead % |
0.98 |
0.90 |
9.5 |
1.40 |
| Zinc % |
1.81 |
1.60 |
13.2 |
2.48 |
History
2009
Construction commenced
2011
Commercial production 1H11
Production
Silver
(koz)
12,439
(FY21)
% (19.9) Change
Gold
(oz)
88,440
(FY21)
% 4.2 Change
Lead
(t)
24,615
(FY21)
% (13.9) Change
Zinc
(t)
37,469
(FY21)
% (12.4) Change
Financial Highlights
Adjusted Revenue
(US$m, FY21)
594.5
% 0.2 Change
Segment Profit
(US$m, FY21)
321.3
% (1.2) Change
Captial Expenditure
(US$m, FY21)
101.2
% 37.9 Change
Exploration
(US$m, FY21)
18.7
% 34.5 Change
1Q22
-
Quarterly silver production decreased 8.4% vs. 4Q21 as a result of a lower volume of ore processed due to the aforementioned impact of the labour reforms and Covid-related absenteeism. As explained in the prior quarter, we expect some variability in the ore grade and reduced volumes of ore to be processed in 2022 driven by the need for additional development of the mine in order to recapture operational flexibility following high levels of localised seismicity.
- Quarterly silver production decreased 13.0% vs. 1Q21 for reasons described above, mitigated by a higher ore grade and recovery rate.
-
We have continued our recruitment and training campaigns at the mine with the target of gradually reducing the shortage of personnel and returning the mine to its potential capacity, once fully staffed. Through these actions, expected to take effect during the first three quarters of the year, we are targeting a return to an average development rate of more than 3,000 metres a month during 2022. However, as set out above, challenges remain. The labour market remains tight and we are also experiencing some delays to new equipment deliveries due to global supply bottlenecks.
-
Quarterly by-product gold production decreased 7.5% vs. 4Q21 mainly driven by a lower volume of ore processed.
-
Quarterly by-product gold production decreased 38.9% vs. 1Q21 due to a lower volume of ore processed and ore grade.
- Full year 2022 silver ore grade is estimated to remain between 175-195 g/t, while the gold ore grade is estimated to continue to be around 1.10-1.20 g/t.
