Saucito

One of our most important assets; contributing 22.3% to total silver production (2022) and generated 18.7% of total adjusted revenue.

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: 1,470 employees, 2,244 contractors
Milling Capacity : 7,000 tpd/2,600,000 tpy
Mine Life: 6.6 (2021: 7.3)

Quarterly Production

     

  1Q23 4Q22 % change 1Q22
Ore processed (t) 471,959 508,455 (7.2) 495,419
         
Production        
Silver (koz) 2,804 3,026 (7.3) 2,738
Gold (oz) 21,378 18,076 18.3 16,388
Lead (g/t) 4,301 3,859 11.5 4,264
Zinc (g/t) 5,991 5,868 2.1 7,299
Ore grades        
Silver (g/t) 207 208 (0.5) 193
Gold (g/t) 1.77 1.39 26.7 1.29
Lead % 1.07 0.90 18.9 0.98
Zinc % 1.68 1.56 8.0 1.81

History

2004

Drilling commenced

2009

Construction commenced

2011

Commercial production 1H11

Production

Silver (koz)

11,977 (FY22) % (3.7) Change

Gold (oz)

73,497 (FY22) % (16.9) Change

Lead (t)

17,816 (FY22) % (27.6) Change

Zinc (t)

28,415 (FY22) % (24.2) Change

Financial Highlights

Adjusted Revenue (US$m, FY22)

485.9 % (18.3) Change

Segment Profit (US$m, FY22)

197.8 % (38.4) Change

Captial Expenditure (US$m, FY22)

118.0 % 16.6 Change

Exploration (US$m, FY22)

30.2 % 61.5 Change

1Q23

  • Quarterly silver production decreased 7.3% vs. 4Q22 mainly driven by the decrease in volume of ore processed due to lower availability of mining scalers and haulage equipment at the West and Central areas.

  • Quarterly silver production increased 2.4% vs. 1Q22 due to higher ore grade at the Jarillas West area and lower dilution, which more than compensated for the lower volume of ore processed in 1Q23.
  • Quarterly by-product gold production increased 18.3% and 30.5% vs. 4Q22 and 1Q22 respectively, mainly driven by a higher ore grade at the Jarillas West area, partly offset by the lower volume of ore processed.

  • We will continue working toward increasing the availability of equipment and utilisation rates, whilst improving the productivity of our personnel. These measures are expected to increase volumes of ore processed in the coming months.

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