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Gold|Operations
Gold|Operations
gold|operations

Fresnillo confidently approaches final quarter amid steady production

23rd October 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Fresnillo, the world’s biggest primary silver producer, is entering the final quarter with confidence, maintaining its full-year production guidance set earlier this year.

The London-listed miner, focused on operations in Mexico, reported a solid third-quarter performance that CEO Octavio Alvídrez said aligns with its consistent operational results throughout 2024.

“In silver, Saucito and San Julián Veins have performed very well, helping to offset slightly lower output at Fresnillo,” he reported.

“In gold, we have delivered a rapid recovery at Herradura after the mine plan was impacted by heavy rains earlier in the year, with gold production increasing 40% quarter-on-quarter, and at Ciénega we have delivered a strong increase in gold output year-to-date, testament to the outstanding work of the team on the ground,” said Alvídrez.

Fresnillo’s third-quarter attributable silver production is 14.4-million ounces (including Silverstream). This represents a 1.5% decline from the previous quarter, attributed to lower grades and processing volumes at the San Julián DOB mine, which is nearing the end of its life cycle, as well as decreased grades at Ciénega.

Quarterly attributable gold production rose by 10.6% quarter-on-quarter to 156 800 oz, mainly owing to higher ore grade and volume of ore processed at Herradura, and higher ore grades in the Fresnillo district, partly offset by the lower ore grade at Ciénega.

Looking ahead, Fresnillo reiterated its 2024 production forecasts, projecting attributable silver production in the range of 55-million to 62-million ounces, including Silverstream, and gold production expected to be between 580 000 oz and 630 000 oz. When expressed in silver equivalent ounces, total production is anticipated to reach between 101-million and 112-million ounces.

Edited by Creamer Media Reporter

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