Octavio Alvídrez, Chief Executive Officer, said:
“I am pleased to confirm we have successfully completed the safe ramp-up of our new Juanicipio mine which
is now running at nameplate capacity in line with our forecast timeline. It is having a positive impact on both
silver and gold production year to date, helping to offset the lower production at Noche Buena as it nears its
end of life, with higher production of both lead and zinc further supporting our overall performance. We remain
on track to meet our full year production guidance.
We continue to address the ongoing impact of inflation and the revaluation of the Mexican peso, which we
expect to remain headwinds going into 2024, through measures including the greater use of technology,
autonomous drilling and reducing haulage costs.
It is with great sadness that I report two contractors’ workers recent fatalities, one in September, and one in
October. The safety of our people remains key and we are thoroughly investigating the circumstances to
ensure that we can learn and adapt our safety protocols to improve the safety culture across our sites.”
HIGHLIGHTS
Silver
? Quarterly attributable silver production of 14.1 moz (including Silverstream), down 5.1% vs. 2Q23, mainly
driven by the lower ore grade and volume of ore processed at San Julián Disseminated Ore Body (DOB)
and Saucito, along with the lower volume of ore processed at Juanicipio. These factors were mitigated
by the higher ore grade and volume of ore processed at San Julián Veins and Ciénega.
? Quarterly attributable silver production (including Silverstream) increased 3.8% vs. 3Q22, primarily due
to the ramp-up of Juanicipio and higher ore grade at San Julián Veins, partially offset by the lower ore
grade at Saucito and San Julián (DOB).
? Year to date attributable silver production (including Silverstream) increased 2.2% vs. YTD22, as a result
of the ramp-up of Juanicipio and higher ore grade at San Julián Veins, partly offset by the lower ore grade
at San Julián (DOB) and a decrease in the volume of ore processed and lower ore grade at Ciénega.
Gold
? Quarterly attributable gold production of 132.6 koz down 13.0% vs. 2Q23, mainly driven by lower
production at Herradura due to an electrical fault and lower ore grade, the decrease in gold production at
Noche Buena as it approached the end of its mine life and lower ore grade and recovery rate at Saucito.
? Quarterly attributable gold production down 16.7% vs. 3Q22 primarily due to the decrease in the volume of ore processed at Herradura, lower gold production at Noche Buena and lower ore grade and recovery
rate at Saucito, mitigated by the ramp-up of Juanicipio and increased ore processed and ore grade at Fresnillo. see & read more on
https://www.fresnilloplc.com/media/pirophvy/251023-3q23-production-report.pdf