In 2010, the Peñasquito mine achieved commercial production on schedule and on budget. Full-year 2014 gold production totaled 567,800 ounces. Gold production for 2015 is expected to be between 700,000 and 750,000 ounces; production of silver is expected to total 24 to 26 million ounces; zinc production is expected to total 400 to 415 million pounds and lead production is expected to total 175 to 185 million pounds.
Peñasquito is Mexico's largest gold producer, consisting of two open pits - Peñasco and Chile Colorado - containing gold, silver, lead and zinc. Exploration will continue to focus on defining the high-grade core of the copper-gold, sulphide-rich skarn mineralization located below and adjacent to current Mineral reserves. Metallurgical test work on the mineralization is underway.
Also at Peñasquito, pre-feasibility studies for the Concentrate Enrichment Process and the Pyrite Leach Process were essentially complete at the end of 2014 and are undergoing internal review. The preliminary economic results continue to demonstrate the robust economics of these projects and their potential to significantly increase the mine life. The two projects are being integrated as they enter the feasibility study phase, which is expected to commence by the end of the first quarter and be completed in early 2016.
* Due to rounding, numbers may not add up.