Fresnillo completes downstream power testing at Juanicipio

The FTSE 100 company said that concluded the additional testing requested by the state-owned power company, CFE, to verify compatibility between new and updated substation equipment installed by Fresnillo on behalf of itself and its joint venture partner, MAG Silver, and existing, older CFE infrastructure.

As such, the entire system had now been energised, and commissioning of the project had formally started.

“Ramp-up will now be conducted at pace, with the objective of reaching full nameplate capacity in the second quarter of 2023,” the board said in its statement.

“Once commissioning is concluded, ore will be processed at the Juanicipio plant and could also continue to be processed at our nearby Saucito and Fresnillo operations if required.”

The Juanicipio mine was described by Fresnillo as its next “major growth” project.

“From 2023 onwards, Juanicipio will be an increasingly major influence in its operations, with total average annual silver and gold production of 11.7 million ounces and 43,500 ounces respectively over the life of mine.”

Reporting by Josh White for Sharecast.com.