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Mexico
Penasquito Mine

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 Location:
14 km W from Mazapil, Zacatecas, Mexico

  Regional Office:
Paseo de las palmas 425-15 Lomas de Chapultepec
Mexico, D. F.
Mexico, Mexico
11000
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Lead
  • Zinc
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life10 years (as of Jan 1, 2021)
Penasquito open pit mine is the world’s fifth largest silver mine and Mexico’s second biggest.

Peñasquito consists of the Peñasco and Chile Colorado open pit mines.


Owners

Source: p. 13, 37
CompanyInterestOwnership
Newmont Corp. 100 % Indirect
The Project is indirectly 100% held by Newmont. Newmont uses an indirectly 100% owned subsidiary, Minera Peñasquito SA de C.V. (Minera Peñasquito), as the operating entity for the mining operations. Newmont acquired the project as part of the merger with Goldcorp in 2019.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Skarn
  • Breccia pipe / Stockwork
  • Manto
  • Intrusion related
  • Hydrothermal


Summary:

The deposits within the Peñasquito Operations are considered to be examples of breccia pipe deposits developed as a result of intrusion-related hydrothermal activity.

The breccia pipes are believed to be related to quartz–feldspar porphyry stocks beneath the Peñasquito area. The current bedrock surface is estimated to be a minimum of 50 m (and possibly several hundred meters) below the original paleo-surface when the diatremes were formed.

Alluvium thickness averages 30–50 m at Peñasquito, and this cover obscured the diatremes. There is one small outcrop of breccia near the center of the Peñasco diatreme, rising about 5 m above the valley surface. The single outcrop near the center of the Peñasco pipe contained weak sulfide mineralization along the south and west side of the outcrop, representing the uppermost expression of much larger mineralized zones at depth.

Peñasco and Brecha Azul are funnel-shaped breccia pipes, which flare upward, and are filled with brecciated sedimentary and intrusive rocks, cut by intrusive dikes.

The larger diatreme, Peñasco, has a diameter of 900 m by 800 m immediately beneath surface alluvial cover, and diatreme breccias extend to at least 1,000 m below surface. The Brecha Azul diatreme, which lies to the southeast of Peñasco, is about 500 m in diameter immediately below alluvium, and diatreme breccias also extend to at least 1,000 m below surface.

Chile Colorado is a mineralized stockwork l ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Peñasquito is an open pit operation located in the northeast corner of Zacatecas State, Mexico, approximately 125 miles (200 kilometers) northeast of the city of Zacatecas and is accessible by paved roads with a private airport close to the site. The property began production in 2009, with commercial production being achieved in 2010. Peñasquito consists of the Peñasco and Chile Colorado open pit mines. The open pits feeds a sulfide concentrator (mill).

Open pit mining is conducted using conventional techniques and an Owner-operated conventional truck and shovel fleet. Currently, two open pits, Peñasco and Chile Colorado are being mined.

The Peñasquito pit has four remaining stages (Phases 6 to 9), and will be excavated to a total depth of 780 m. The Chile Colorado pit has one remaining stage (Phase 2), and will reach 461 m ultimate depth. An ore stockpiling strategy is practiced.

The remaining mine life is 10 years, with the last year, 2031, being a partial year. The open pit operations will progress at a nominal annual mining rate of 193 Mt/a until the end of 2023, subsequently decreasing to a nominal mining rate of 144 Mt/a until the end of 2027. The LOM plan assumes a nominal rate of 36 Mt/a milling until 2031.

Operations use a standard drill-and-blast, truck-and-shovel configuration. The ramp design comprises two traffic lanes, safety berms and ditches. Ramp gradients are established at 10%. Haul road width assumptions incl ........


Crushing and Grinding
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Processing

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Summary:

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Production:
Peñasquito produced 129,000 ounces of gold and 443,000 gold equivalent ounces of other metals since the completion of the acquisition of the mine site as part of the Newmont Goldcorp transaction on April 18, 2019.

CommodityProductUnits2023202220212020201920182017
Gold Metal in conc./ doré koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Silver Metal in conc./ doré koz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Lead Metal in concentrate M lbs  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Zinc Metal in concentrate M lbs  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gold Payable metal koz 272476
Silver Payable metal koz  ......  Subscription required  ......  Subscription required
Lead Payable metal M lbs  ......  Subscription required  ......  Subscription required
Zinc Payable metal M lbs  ......  Subscription required  ......  Subscription required
Lead Concentrate kt
Zinc Concentrate kt
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined  ......  Subscription required  ......  Subscription required46,831 k tons21,483 k tons
Waste  ......  Subscription required  ......  Subscription required101,894 k tons65,162 k tons
Total tonnes mined  ......  Subscription required  ......  Subscription required148,725 k tons86,645 k tons
Tonnes processed  ......  Subscription required  ......  Subscription required30,590 kt15,038 k tons35,248 kt37,083 kt
Daily milling capacity  ......  Subscription required  ......  Subscription required124,000 t130,000 t
Stripping / waste ratio  ......  Subscription required  ......  Subscription required
Daily milling rate  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Reserves at December 31, 2022:
Gold cut-off grade varies with level of silver, lead and zinc credits.

CategoryTonnage CommodityGradeContained Metal
Proven & Probable 316,500 kt Gold 0.53 g/t 5,410 koz
Proven & Probable 316,500 kt Silver 34 g/t 346,050 koz
Proven & Probable 316,500 kt Lead 0.33 % 2,300 M lbs
Proven & Probable 316,500 kt Zinc 0.79 % 5,540 M lbs
Measured & Indicated 311,000 kt Gold 0.26 g/t 2,570 koz
Measured & Indicated 311,000 kt Silver 23.98 g/t 239,740 koz
Measured & Indicated 311,000 kt Lead 0.24 % 1,630 M lbs
Measured & Indicated 311,000 kt Zinc 0.54 % 3,740 M lbs
Inferred 84,700 kt Gold 0.41 g/t 1,110 koz
Inferred 84,700 kt Silver 27.24 g/t 74,220 koz
Inferred 84,700 kt Lead 0.23 % 440 M lbs
Inferred 84,700 kt Zinc 0.53 % 1,000 M lbs

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Credits (by-product) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required
Total cash costs Gold USD 756 / oz   678 / oz  
Total cash costs (sold) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Total cash costs Gold USD -80 / oz†   -106 / oz†  
All-in sustaining costs (sold) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All-in sustaining costs (AISC) Gold USD 648 / oz†   370 / oz†  
^ Guidance / Forecast.
† Net of By-Product.
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Operating Costs:

Units20162015
OP mining costs ($/t mined) USD 1.98  2.09  
Processing costs ($/t milled) USD  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required.

Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ......  Subscription required
Sustaining costs M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 189   213  
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 525   537  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,050   1,400  
Operating Income M USD 55   370  
Pre-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Subscription required - Subscription is required


Water Supply
Source: Subscription required

- subscription is required.


Heavy Mobile Equipment:
HME TypeModelSizeQuantityRef. Date
Dozer (crawler) ....................... Subscription required ....................... Subscription required Feb 28, 2020
Dozer (crawler) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Dozer (crawler) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Dozer (rubber tire) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Drill ....................... Subscription required 4.5 inch ....................... Subscription required Dec 31, 2021
Drill (blasthole) ....................... Subscription required 10.625 inch ....................... Subscription required Dec 31, 2021
Drill (blasthole) ....................... Subscription required 10.625 inch ....................... Subscription required Dec 31, 2021
Drill (blasthole) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Excavator ....................... Subscription required ....................... Subscription required Jan 11, 2022
Grader ....................... Subscription required ....................... Subscription required Feb 28, 2020
Grader ....................... Subscription required ....................... Subscription required Dec 31, 2021
Loader ....................... Subscription required ....................... Subscription required Dec 31, 2021
Shovel (hydraulic) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Shovel (hydraulic) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Shovel (hydraulic) ....................... Subscription required ....................... Subscription required Feb 28, 2020
Shovel (rope) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Truck (haul) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Truck (haul) ....................... Subscription required ....................... Subscription required Dec 31, 2021
Truck (water) ....................... Subscription required ....................... Subscription required Feb 28, 2020
Truck (water) ....................... Subscription required ....................... Subscription required Nov 23, 2021
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
....................... Subscription required ....................... Subscription required Subscription required May 17, 2023
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2019
Subscription required 2018
Subscription required 2017

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
Form 10-K 2022
Other 2022
Sustainability Report 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Corporate Presentation 2018
Management Discussion & Analysis 2018
Press Release 2018
Technical Report 2018
Year-end Mineral Reserves 2018
Annual Information Form 2017
Annual Report 2017
Press Release 2017
Year-end Mineral Reserves 2017
Annual Report 2016
Year-end Mineral Reserves 2016
Annual Information Form 2015
Annual Report 2015
Technical Report 2015
Annual Report 2014
Other 2013
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