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

     

  4Q22 3Q22 % change 4Q21
Ore processed (t) 508,455 556,199 (8.6) 558,101
         
Production        
Silver (koz) 3,026 3,171 (4.6) 2,990
Gold (oz) 18,076 22,249 (18.8) 17,719
Lead (g/t) 3,859 4,513 (14.5) 4,272
Zinc (g/t) 5,868 6,882 (14.7) 6,672
Ore grades        
Silver (g/t) 208 199 4.5 186
Gold (g/t) 1.39 1.58 (12.0) 1.26
Lead % 0.90 0.96 (6.3) 0.90
Zinc % 1.56 1.64 (4.9) 1.60

History

2004

Drilling commenced

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

4Q22

  • Quarterly silver production decreased 4.6% vs. 3Q22 due to a decrease in ore throughput driven by one off factors including lower equipment availability, lower productivity as new employees completed training modules, and a longer than planned shutdown required by CFE related to the tie at Juanicipio. This was partially mitigated by the higher ore grade areas mined in 4Q22.

  • Quarterly silver and gold production slightly increased 1.2% and 2.0% vs. 4Q21 respectively, due to higher ore grades from improvements to the short term mine planning process and the regained access to certain areas of the mine with higher ore grades, offset by a lower volume of ore processed for the factors mentioned above.
  • Full year silver production decreased 3.7% vs. FY21 driven by a lower volume of ore processed mainly due to changes to the short planning process and, to lesser extent, a lower productivity from internalised personnel, offset by the higher ore grade due to the factors explained above.

  • Quarterly and full year by-product gold production was down 18.8% and 16.9% vs. 3Q22 and FY21 respectively, driven by a lower ore grade and a decrease in ore throughput.

  • Full year 2023 silver ore grade is estimated to remain between 190-210 g/t, while the gold ore grade is estimated to be around 1.20-1.40 g/t.