In 2010, the Peñasquito mine achieved commercial production on schedule and on budget. Full-year 2014 gold production is expected to be between 530,000 to 560,000 ounces; production of silver is expected to total 22 to 25 million ounces; zinc production is expected to total 315 to 325 million pounds and lead production is expected to total 135 to 145 million pounds.
Peñasquito will be Mexico's largest open pit mine, consisting of two open pits - Peñasco and Chile Colorado - containing gold, silver, lead and zinc. Exploration continues to expand the high-grade manto deposits beneath the Peñasquito pit. Assay results have demonstrated significant potential for concurrent, high-grade production from mantos below the current pits, later in the life of the mine.
Also at Peñasquito, pre-feasibility studies for the concentgrate enrichment process project and the pyrite leach project are advancing and are expected to be completed in late 2014 and early 2015, respectively. Successful implementation of one or both of these proejcts has the potential to significantly improve the overall economics and add to the reserves and resources of Peñasquito through the addition of another saleable prodct, and incresasing gold and silver recoveries, respectively.
* Due to rounding, numbers may not add up.