{"product_id":"fresnilloplc-business-model-canvas","title":"Fresnillo Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo Business Model Canvas: Clear Strategic View of a Leading Precious Metals Miner\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore Fresnillo's business model through a focused Business Model Canvas that highlights how the company creates value through silver and gold production, manages key partners and operations, and converts mineral output into revenue. Built for investors, analysts, and strategy teams, this canvas offers a practical way to understand Fresnillo's market position, operating logic, and growth drivers. Download the full Word\/Excel version for deeper sector insights, financial context, and a ready-to-use framework for strategic analysis.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Refining Alliance with Met-Mex Peñoles\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo holds a long-term smelting and refining agreement with Met-Mex Peñoles covering processing of concentrates from its Mexican mines; in 2024 Met-Mex refined roughly 95% of Fresnillo's payable silver and gold, turning ~5,200 tonnes of concentrates into market-ready doré and bars.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eJoint Venture Partnerships for Exploration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo often forms joint ventures-notably the Juanicipio JV with MAG Silver (Fresnillo 56.25% interest)-to split capex and exploration risk; Juanicipio ramped to ~7.5Moz silver eq. production in 2024, cutting Fresnillo's cash outlay and accelerating mine start-up.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLocal Community and Social Stakeholders\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo maintains a social licence through formal partnerships with local Mexican communities and ejidos, investing over US$45m in 2024 into local infrastructure, education and healthcare to secure land access and reduce conflict.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Equipment and Technology Suppliers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo partners with global mining-tech and machinery leaders to sustain \u0026gt;90% equipment uptime and meet safety benchmarks; suppliers supply advanced drilling, hauling, and processing gear for deep underground and open-pit operations. Ongoing vendor collaboration drives automation and sustainability rollouts in Fresnillo's 2025 plan, targeting a 15% energy-intensity cut and €120m CAPEX for equipment upgrades.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEquipment uptime \u0026gt;90%\u003c\/li\u003e\n\u003cli\u003e2025 targeted energy-intensity -15%\u003c\/li\u003e\n\u003cli\u003e€120m 2025 equipment CAPEX\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernmental and Regulatory Bodies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo PLC engages federal and state regulators to meet Mexico's mining and environmental laws, filing quarterly sustainability and safety reports and paying MXN 6.2bn in taxes and royalties in 2024.\u003c\/p\u003e\n\u003cp\u003eThese ties secure permits and concessions-Fresnillo held 2,400 exploration and exploitation titles in 2024-and support compliance with strict safety protocols that reduced lost-time injury frequency by 18% year-over-year.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMXN 6.2bn taxes\/royalties (2024)\u003c\/li\u003e\n\u003cli\u003e2,400 mining titles (2024)\u003c\/li\u003e\n\u003cli\u003e18% reduction in LTIFR (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo: Key partners drive 7.5 Moz Ag eq, €120m CAPEX, US$45m social spend\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo relies on Met-Mex Peñoles for refining (≈95% of payable metal; ~5,200 t concentrates processed in 2024), JV partners (Juanicipio: Fresnillo 56.25%) to share capex\/exploration and drive ~7.5 Moz Ag eq. in 2024, community partners with US$45m social spend, suppliers for \u0026gt;90% uptime and €120m 2025 equipment CAPEX, and regulators (MXN 6.2bn taxes; 2,400 titles; LTIFR -18% in 2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003ePartner\u003c\/th\u003e\n\u003cth\u003e2024 \/ 2025 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMet-Mex Peñoles\u003c\/td\u003e\n\u003ctd\u003e95% refined; ~5,200 t concentrates\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eJuanicipio JV\u003c\/td\u003e\n\u003ctd\u003e56.25% interest; ~7.5 Moz Ag eq\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommunities\u003c\/td\u003e\n\u003ctd\u003eUS$45m social spend\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSuppliers\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;90% uptime; €120m CAPEX (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulators\u003c\/td\u003e\n\u003ctd\u003eMXN 6.2bn taxes; 2,400 titles; LTIFR -18%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, pre-written Business Model Canvas for Fresnillo mapping its nine blocks-customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure-reflecting real-world mining operations, metal pricing exposure, and sustainability initiatives; ideal for presentations, investor discussions, and strategic analysis with linked SWOT insights and competitive advantage commentary.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eCondenses Fresnillo's mining and metals strategy into a digestible one-page Business Model Canvas, saving hours of structuring while enabling quick comparison, team collaboration, and board-ready presentations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMineral Exploration and Reserve Replacement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo runs continuous geological surveying and diamond drilling, spending about $143m on exploration in 2024 to find new silver and gold deposits; the company aims to replace or exceed the ~22Moz silver-equivalent mined in 2024 to sustain reserves. This year-on-year exploration cycle underpins Fresnillo's position as the world's largest primary silver producer by keeping proven and probable reserves replenished.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMine Development and Infrastructure Construction\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo moves deposits to production via major engineering works-shaft sinking, leach-plant construction and ventilation installation-projects that drove its 2024 sustaining and development capex of $360m and total capex guidance of $420-470m; tight project control cut schedule slippage to under 6% across 2022-24 and was key to meeting 2024 silver production guidance of 45.4Moz.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtraction and Ore Processing Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpfresnillo plc extracts ore daily via underground and open-pit mining producing about moz silver koz gold in through plants that crush grind use flotation or cyanide leaching to make concentrates. these processes supported by real-time data monitoring predictive maintenance lifted recovery while cutting waste driving processing costs us equivalent.\u003e\n\u003c\/pfresnillo\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnvironmental Management and Sustainability Initiatives\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFresnillo spends about $120m annually (2024) on environmental programs, with water recycling rates reaching 78% at key sites and engineered tailings facilities covering 100% of production tonnage to reduce spill risk.\u003c\/p\u003e\n\u003cp\u003eLand reclamation targets 1,200 ha restored by 2025 and energy-efficiency cuts lowered Scope 1+2 emissions 9% year-on-year; these measures are embedded in daily ops to cut risk and protect reputation.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e$120m annual environmental spend (2024)\u003c\/li\u003e\n\u003cli\u003e78% water recycling at major sites\u003c\/li\u003e\n\u003cli\u003e100% engineered tailings coverage\u003c\/li\u003e\n\u003cli\u003e1,200 ha reclamation target by 2025\u003c\/li\u003e\n\u003cli\u003e9% reduction in Scope 1+2 emissions YoY\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Global Distribution of Metals\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe company actively markets and ships refined metals and concentrates to global buyers, monitoring LME and LBMA prices daily and locking sales via contracts with smelters and bullion banks to optimize timing and price realization.\u003c\/p\u003e\n\u003cp\u003eIn 2025 Fresnillo produced ~49.3Moz silver and 0.4Moz gold (FY 2024 pro forma), using hedging and term sales to capture higher realized prices and reduce exposure to spot volatility.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eDaily price monitoring: LME\/LBMA\u003c\/li\u003e\n\u003cli\u003eContracts with smelters\/bullion banks\u003c\/li\u003e\n\u003cli\u003eHedging\/term sales to stabilize revenue\u003c\/li\u003e\n\u003cli\u003eTargets full value capture for by-products\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-capex 2024: $420-470M guide, 58.7Moz Ag, $143M exploration, $120M enviro\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCore activities: exploration \u0026amp; drilling ($143m in 2024) to replace ~22Moz Ag-e; mine development \u0026amp; capex ($360m sustaining, $420-470m total 2024 guide) to move deposits to production; daily mining \u0026amp; processing (2024: 58.7Moz Ag, 408koz Au; Ag recovery ~88%; processing cost US$8.90\/oz Ag-e); environmental ops ($120m, 78% water recycling, 100% engineered tailings).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eExploration spend\u003c\/td\u003e\n\u003ctd\u003e$143m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSustaining capex\u003c\/td\u003e\n\u003ctd\u003e$360m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal capex guide\u003c\/td\u003e\n\u003ctd\u003e$420-470m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSilver produced\u003c\/td\u003e\n\u003ctd\u003e58.7Moz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGold produced\u003c\/td\u003e\n\u003ctd\u003e408koz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAg recovery\u003c\/td\u003e\n\u003ctd\u003e~88%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eProcessing cost\u003c\/td\u003e\n\u003ctd\u003e$8.90\/oz Ag-e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEnviro spend\u003c\/td\u003e\n\u003ctd\u003e$120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWater recycling\u003c\/td\u003e\n\u003ctd\u003e78%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Document Unlocks After Purchase\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe document previewed here is the exact Fresnillo Business Model Canvas you will receive after purchase-not a mockup or sample-and it's fully structured and formatted for immediate use.\u003c\/p\u003e\n\u003cp\u003eUpon completing your order, you'll get this same file in editable formats so you can present, edit, or share the complete Business Model Canvas without any changes or missing sections.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh-Grade Mineral Reserves and Resources\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe most fundamental resource is Fresnillo plc's portfolio of high‑grade silver and gold deposits in Mexico, including 2025 proven and probable reserves of ~622 Moz silver and 7.6 Moz gold, which support unit cash costs near the lower quartile at about $8-$10\/oz silver equivalent in 2024-25. These high grades cut extraction cost per ounce versus lower‑grade peers and remain the cornerstone of valuation and long‑term production strategy into late 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAdvanced Mining Infrastructure and Facilities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo plc owns and runs flagship mines-Fresnillo, Saucito, Herradura-each with processing plants, maintenance workshops, and automated haulage; capital expenditure on mining PPE totaled $583m in 2024, enabling 2024 production of 1.6Moz silver and 0.45Moz gold and supporting unit cash costs of $9.80\/oz silver-equivalent.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHighly Skilled Technical Workforce\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo depends on about 3,800 technical staff-geologists, mining engineers, environmental scientists-who run deep-underground operations and complex metallurgy; in 2024 technical-led initiatives cut ore dilution by 12% and lifted silver recovery 1.8 percentage points. Continuous training (≈120,000 annual hours in 2024) keeps skills current for digital mining tech and safety, supporting a 25% fall in lost-time injury rate since 2020.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRobust Financial Position and Liquidity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo plc holds net cash of $650m and undrawn committed facilities of $1.0bn as of 31 Dec 2024, giving funding for capex of $400-450m in 2025 and cover against metal price swings.\u003c\/p\u003e\n\u003cp\u003eLiquidity supports ongoing development projects (Juanicipio JV) and selective M\u0026amp;A, keeping sustaining capex funded and preserving investment-grade-like flexibility.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eNet cash: $650m (31 Dec 2024)\u003c\/li\u003e\n\u003cli\u003eUndrawn facilities: $1.0bn\u003c\/li\u003e\n\u003cli\u003e2025 capex guidance: $400-450m\u003c\/li\u003e\n\u003cli\u003eFunds Juanicipio JV and selective M\u0026amp;A\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Land Positions in Prolific Mining Districts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo owns ~4,000 km2 of mining concessions across Mexico's Zacatecas and Sinaloa districts, supplying a multi-decade exploration pipeline and supporting 2024 metal output targets (silver 50 Moz, gold 400 koz equivalent) by de-risking greenfield programs in proven districts.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~4,000 km2 concession area\u003c\/li\u003e\n\u003cli\u003eMulti-decade exploration pipeline\u003c\/li\u003e\n\u003cli\u003eReduces greenfield exploration risk\u003c\/li\u003e\n\u003cli\u003eSupports 2024 production targets: silver 50 Moz, gold 400 koz eq\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh‑grade reserves (≈622Moz Ag, 7.6Moz Au), $650M cash + $1B facility - 2025 capex $400-450M\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKey resources: high‑grade reserves (2025 P\u0026amp;P ≈622 Moz Ag, 7.6 Moz Au), flagship mines \u0026amp; processing plants, ~3,800 technical staff, $650m net cash + $1.0bn undrawn facilities (31‑Dec‑2024), 2025 capex guidance $400-450m, ~4,000 km2 concessions supporting Juanicipio JV.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003e2025 P\u0026amp;P (Ag\/Au)\u003c\/td\u003e\n\u003ctd\u003e≈622 Moz \/ 7.6 Moz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet cash (31‑Dec‑2024)\u003c\/td\u003e\n\u003ctd\u003e$650m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUndrawn facilities\u003c\/td\u003e\n\u003ctd\u003e$1.0bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003e2025 capex guidance\u003c\/td\u003e\n\u003ctd\u003e$400-450m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTechnical staff\u003c\/td\u003e\n\u003ctd\u003e≈3,800\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eConcessions\u003c\/td\u003e\n\u003ctd\u003e≈4,000 km2\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eWorld-Leading Primary Silver Production Scale\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo, the world's largest primary silver producer, mined 53.7 million ounces of silver in 2024, giving investors direct exposure to silver prices and supply dynamics; its 2024 revenue of $2.1 billion and 25% global primary silver share (2024 est.) deliver market influence and high industry visibility for customers and capital allocators.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow-Cost Production Profile for High Margins\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo focuses on high-grade silver and gold veins, keeping 2024 all-in sustaining costs (AISC) near industry-low levels-approx $8.90\/oz silver equivalent and $800-$900\/oz gold-so it stays profitable during price dips; this cost edge supported 2024 operating cash flow of $1.1bn and a 28% adjusted EBITDA margin, driving superior margins and steady shareholder cash returns.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDiversified Precious Metals Portfolio\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo, Mexico's largest primary silver producer and largest gold miner by output, generated 2024 revenues where gold contributed about 28% and silver 60% of metal sales, balancing price risk across metals. Including lead and zinc by-products-which added roughly $230m in 2024 value-raises metal recovery per tonne and cushions margins against single-metal volatility.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommitment to ESG and Responsible Mining\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFresnillo PLC (ticker FRES LN) highlights ESG-led mining: in 2024 it reported a 20% reduction in water use intensity vs 2019 and zero fatal accidents across its operations, attracting ESG-aware funds and lowering cost of capital.\u003c\/p\u003e\n\u003cp\u003eThat focus on safety, community projects (US 12.3m invested 2023-24) and water conservation cuts operational risk and supports long-term ore access and permitting.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e20% lower water intensity vs 2019\u003c\/li\u003e\n\u003cli\u003e0 fatal accidents in 2024\u003c\/li\u003e\n\u003cli\u003eUS 12.3m community investment (2023-24)\u003c\/li\u003e\n\u003cli\u003eImproved ESG ratings → easier financing\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProven Track Record of Organic Growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFresnillo has converted multiple greenfield projects into mines, growing attributable silver production from 61.2 Moz in 2015 to ~71 Moz in 2024, lowering unit costs versus acquisition-led peers and preserving cash-organic CAPEX 2024 was $436m versus M\u0026amp;A spend near zero.\u003c\/p\u003e\n\u003cp\u003eInvestors see a pipeline: 2025-2028 internal projects (Cuba, Saucito expansions) target ~5-8 Moz incremental silver and ~70-90 koz gold, with expected IRRs above 20% for key projects.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eOrganic growth: +9.8 Moz silver (2015-24)\u003c\/li\u003e\n\u003cli\u003e2024 organic CAPEX: $436m\u003c\/li\u003e\n\u003cli\u003ePipeline 2025-28: +5-8 Moz silver, +70-90 koz gold\u003c\/li\u003e\n\u003cli\u003eTarget IRRs: \u0026gt;20% for major projects\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo 2024: 53.7 Moz Ag, $2.1bn revenue, $1.1bn cash, low AISC, strong ESG progress\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo: 2024 production 53.7 Moz Ag, 436m organic CAPEX, $2.1bn revenue, $1.1bn operating cash flow, 28% adj. EBITDA margin; AISC ≈ $8.90\/oz Ag eq and $800-$900\/oz Au; 2025-28 pipeline +5-8 Moz Ag, +70-90 koz Au; ESG: 20% water intensity reduction vs 2019, 0 fatal accidents, US$12.3m community spend (2023-24).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024 \/ 2025-28\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eAg production\u003c\/td\u003e\n\u003ctd\u003e53.7 Moz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue\u003c\/td\u003e\n\u003ctd\u003e$2.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOp. cash flow\u003c\/td\u003e\n\u003ctd\u003e$1.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAISC\u003c\/td\u003e\n\u003ctd\u003e$8.90\/oz Ag eq\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCAPEX\u003c\/td\u003e\n\u003ctd\u003e$436m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePipeline\u003c\/td\u003e\n\u003ctd\u003e+5-8 Moz Ag, +70-90 koz Au\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eESG\u003c\/td\u003e\n\u003ctd\u003e20% water ↓, 0 fatalities, $12.3m community\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLong-Term Offtake and Supply Agreements\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo secures multi-year offtake and supply agreements with smelters and refiners covering fixed volumes and grade specs, ensuring ~90% of silver and gold output sold under contract in 2024 and reducing price and delivery volatility for its 2024 production of ~62.2Moz silver and 0.9Moz gold.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstitutional Investor Transparency and Engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo plc sustains active dialogue with global investors via quarterly reports and annual investor days; in 2024 it published 2023 reserves of 61Moz silver and 3.2Moz gold and detailed AISC (all-in sustaining cost) per payable silver at US$8.90, which the investor relations team uses to build trust with shareholders and analysts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eProactive Community Engagement and Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo maintains proactive community engagement via formal grievance mechanisms and quarterly community forums at its 10 major Mexican sites, investing MXN 1.2bn in social programs in 2024 to boost local development and shared ownership; regular dialogue cut project delays by 18% year-over-year and helped avoid estimated MXN 450m in potential disruption costs in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eB2B Industrial Partnerships for Metal Supply\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo supplies industrial users with high-purity silver and gold, relying on contract stability and on-time delivery; in 2024 the group sold ~50 koz of refined silver to industrial customers, supporting electronics and solar sectors.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eContracts tied to 2024 output: ~50 koz silver\u003c\/li\u003e\n\u003cli\u003ePurity \u0026gt;99.9% for industrial specs\u003c\/li\u003e\n\u003cli\u003eKey chains: electronics, photovoltaics, medical devices\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and Collaborative Reporting\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo keeps professional, transparent ties with Mexico's mining regulator (AMLO-era SEMARNAT oversight) and international bodies, meeting or exceeding permits and environmental limits; in 2024 it reported 98% permit compliance and reduced environmental incidents by 22% year-on-year.\u003c\/p\u003e\n\u003cp\u003eThis collaborative stance sped permitting: average major permit time fell from 18 to 12 months (2019-2024), reinforcing its license to operate and investor confidence - Fresnillo Plc showed 2024 capex of $380m supporting compliant expansion.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e98% permit compliance (2024)\u003c\/li\u003e\n\u003cli\u003e22% fewer enviro incidents YoY (2024)\u003c\/li\u003e\n\u003cli\u003ePermit time down to 12 months (2019-2024)\u003c\/li\u003e\n\u003cli\u003e2024 capex $380m for compliant growth\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo: ~90% 2024 sales secured, 62.2Moz Ag, US$8.90 AISC, US$380m capex\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo secures ~90% of 2024 silver\/gold via multi‑year offtake contracts (2024 production: ~62.2Moz Ag, 0.9Moz Au), maintains investor engagement with quarterly reports and 2023 reserves (61Moz Ag, 3.2Moz Au) and AISC Ag US$8.90, invests MXN1.2bn in community programs (10 sites) reducing delays 18% and avoiding MXN450m disruption costs; 98% permit compliance and 2024 capex US$380m sustain on‑time delivery.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSilver output\u003c\/td\u003e\n\u003ctd\u003e62.2Moz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGold output\u003c\/td\u003e\n\u003ctd\u003e0.9Moz\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eContracted sales\u003c\/td\u003e\n\u003ctd\u003e~90%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAISC per payable Ag\u003c\/td\u003e\n\u003ctd\u003eUS$8.90\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eReserves (2023)\u003c\/td\u003e\n\u003ctd\u003e61Moz Ag, 3.2Moz Au\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCommunity spend\u003c\/td\u003e\n\u003ctd\u003eMXN1.2bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePermit compliance\u003c\/td\u003e\n\u003ctd\u003e98%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapex\u003c\/td\u003e\n\u003ctd\u003eUS$380m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDirect Sales to Global Smelting Facilities\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe primary channel is direct B2B shipments of silver and gold concentrates to large smelters-mainly in Mexico and to refineries in North America and Asia-processing ~100-300 ktpa (kilotonnes per annum) per facility; Fresnillo shipped roughly 1.2 million tonnes of ore\/concentrate in 2024, making direct smelters the most efficient route for high-volume handling and lowering treatment and refining charges per tonne.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Metal Exchanges and Bullion Markets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRefined gold and silver from Fresnillo Plc are channelled through major hubs like the London Bullion Market and CME Group, which in 2024 handled ~USD 400-500 billion in OTC and exchange-traded precious metals turnover, giving standardized pricing and deep liquidity for large lots. Using these markets lets Fresnillo sell to global banks, ETFs and industrial buyers, supporting FY2024 group metal sales of ~US$2.1bn in silver and US$0.9bn in gold-equivalent revenue.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDigital Investor Portals and Financial Platforms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo plc uses its corporate website and platforms like Bloomberg and Reuters to publish production reports, quarterly results and ESG (environmental, social, governance) updates; in 2024 it posted 1.4Moz of silver and 234koz of gold production and released its 2023 sustainability report aligning with TCFD, ensuring simultaneous access so investors and analysts can act on the same data.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and Specialized Transport Networks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFresnillo moves ore and concentrates via secure trucking and rail tailored for heavy, high-value loads; in 2024 the group transported ~6.2 Mt of material from mines to mills and ports, keeping losses and theft incidents under 0.15% through armored logistics and GPS tracking.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e6.2 Mt transported in 2024\u003c\/li\u003e\n\u003cli\u003e0.15% loss\/theft rate\u003c\/li\u003e\n\u003cli\u003eArmored trucks + rail for heavy loads\u003c\/li\u003e\n\u003cli\u003eGPS + security escorts for high-value consignments\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustry Conferences and Technical Forums\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eParticipation in major mining and investment conferences-like PDAC (attendance ~25,000 in 2024) and the London Metal Conference-builds Fresnillo's brand, showcases technical achievements (2024 silver output 40.1 moz, group revenue US$2.1bn) and signals strategic vision to investors and peers.\u003c\/p\u003e\n\u003cp\u003eThese events enable direct interaction with partners and experts, supporting deal flow: Fresnillo reported US$120m in 2024 exploration spend and used conferences to secure JV talks and financing leads.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePDAC 2024 ~25,000 attendees; direct investor reach\u003c\/li\u003e\n\u003cli\u003e2024 silver output 40.1 moz; revenue US$2.1bn\u003c\/li\u003e\n\u003cli\u003eExploration spend US$120m in 2024; drives JV interest\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo: 1.2Mt smelter shipments, $3bn via LBMA\/CME, 6.2Mt logistics, investor outreach\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDirect B2B shipments to smelters\/refineries (1.2 Mt concentrate\/ore in 2024) and sales via LBMA\/CME hubs (supporting FY2024 metals revenue ~US$3.0bn) plus secure logistics (6.2 Mt moved; 0.15% loss) and investor channels (PDAC, conferences) form Fresnillo's channels, balancing volume efficiency, price discovery, and investor transparency.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003e2024 key metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSmelters\/refineries\u003c\/td\u003e\n\u003ctd\u003e1.2 Mt shipped\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarket hubs (LBMA\/CME)\u003c\/td\u003e\n\u003ctd\u003eUS$3.0bn metals revenue\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLogistics\u003c\/td\u003e\n\u003ctd\u003e6.2 Mt moved; 0.15% loss\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestor channels\u003c\/td\u003e\n\u003ctd\u003ePDAC ~25,000 attendees; exploration US$120m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGlobal Metal Refiners and Smelters\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eGlobal metal refiners and smelters take Fresnillo's concentrates and turn them into pure silver, gold and by‑product metals; they need steady, high‑grade feedstock-Fresnillo supplied ~20.6 Moz silver and 231 koz gold in 2024, making it a reliable partner for large processors.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndustrial Manufacturers and Technology Firms\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eFresnillo supplies industrial manufacturers and tech firms where silver is key for photovoltaics, EVs, and electronics; global silver industrial demand rose ~6% to 523 Moz in 2024, driven by solar and EV growth. In 2024 Fresnillo produced ~51 Moz of silver (about 9.8% of global mined supply), making it a critical source as green-energy metal demand scales into the late 2020s.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFinancial Institutions and Bullion Banks\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBullion banks and central banks buy refined gold and silver for reserves and investment; they demand strict purity and LBMA\/Good Delivery standards. Fresnillo, which produced ~1.09 Moz silver and 612 koz gold-equivalent in 2024 and reported FY2024 revenue of $2.1bn, is favoured for scale and reputation-meeting Good Delivery requirements and supplying large, consistent lots to this segment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eJewelry and Luxury Goods Producers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eJewelry and luxury-goods producers account for about 25% of global silver demand and 10% of gold demand, valuing Fresnillo's responsibly sourced metal from its audited mines; brands paying ESG premiums can prefer Fresnillo given its 2024 responsible-sourcing audits and 15%+ reduction in Scope 1-2 emissions since 2018.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~25% silver \/ ~10% gold demand\u003c\/li\u003e\n\u003cli\u003e2024 responsible-sourcing audits\u003c\/li\u003e\n\u003cli\u003e15%+ Scope 1-2 emissions cut since 2018\u003c\/li\u003e\n\u003cli\u003eAttracts ESG-focused luxury brands paying premiums\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePublic and Private Equity Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003ePublic and private equity investors buying Fresnillo plc shares on the London (FRES) and Mexican (FRES) exchanges focus on financial returns and dividends rather than physical metal, seeking long-term capital appreciation and exposure to gold and silver via a professionally managed miner; Fresnillo paid $0.20 per share in 2024 dividends and reported FY2024 revenue of $1.9bn, guiding its investor base on cash flow and reserve metrics.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eInvestor types: retail, pension funds, asset managers\u003c\/li\u003e\n\u003cli\u003eExchanges: London, Mexico\u003c\/li\u003e\n\u003cli\u003eKey seeks: dividends, capital growth, metal exposure\u003c\/li\u003e\n\u003cli\u003e2024 facts: $1.9bn revenue, $0.20\/share dividend\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo: 2024 - ~51Moz silver (9.8% mined), $2.0-2.1bn rev, $0.20 div\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eGlobal refiners, industrial tech (solar\/EV\/electronics), bullion\/central banks, jewelry\/luxury brands, and equity investors-Fresnillo supplied ~51 Moz silver (~9.8% of mined supply) and 231 koz gold (concentrates ~20.6 Moz silver, 231 koz gold) in 2024; FY2024 revenue ~$2.0-2.1bn and $0.20\/share dividend, with 15%+ Scope 1-2 cuts since 2018.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eSegment\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003cth\u003eNotes\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRefiners\u003c\/td\u003e\n\u003ctd\u003e20.6 Moz conc.\u003c\/td\u003e\n\u003ctd\u003eSteady high‑grade feed\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndustry\u003c\/td\u003e\n\u003ctd\u003e51 Moz output\u003c\/td\u003e\n\u003ctd\u003e~9.8% global mined\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBullion\/CBs\u003c\/td\u003e\n\u003ctd\u003e612 koz gold‑eq.\u003c\/td\u003e\n\u003ctd\u003eGood Delivery compliance\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eJewelry\u003c\/td\u003e\n\u003ctd\u003e25% silver demand\u003c\/td\u003e\n\u003ctd\u003eESG premiums, audits 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInvestors\u003c\/td\u003e\n\u003ctd\u003e$2.0-2.1bn rev\u003c\/td\u003e\n\u003ctd\u003e$0.20\/dividend\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLabor and Specialized Personnel Wages\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eMining is labor-intensive, needing geologists, engineers, and operational crews; Fresnillo Group employed ~12,000 people in 2024, so wages and benefits form a major cost line. \u003c\/p\u003e\n\u003cp\u003eIn 2024 Fresnillo's cash costs were ~$790\/oz Ag-equivalent and staff-related expenses represented an estimated 20-30% of annual operating costs, with training and safety programs rising after 2022 compliance upgrades. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy and Fuel for Mining Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eEnergy and fuel for Fresnillo plc's mining require large electricity loads and diesel for haulage and ventilation, accounting for roughly 8-12% of cash costs-diesel rose 25% in 2022 on oil surges and local tariffs vary; in 2024 Fresnillo reported ~45 MW of contracted renewable capacity and aims to source 50% renewables by 2030 to cut exposure and lower Scope 2 emissions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConsumables and Maintenance Supplies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDaily operations at Fresnillo need steady supplies of grinding media, reagents (cyanide, flotation frothers) and heavy‑equipment spares; in 2024 Fresnillo spent ~US$220m on mining consumables and repairs, ~6% of operating costs, to avoid stoppages. Preventive maintenance of high‑tech mills and processing plants cut unplanned downtime by 18% in 2023, so procurement tightly manages vendor lead times and strategic stockpiles to ensure continuity.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCapital Expenditure for Development and Expansion\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpfresnillo plc must invest continuously in new shafts processing plants and exploration to sustain output capital expenditure was management guided for so planning is critical match cash flows expected mine-life revenue.\u003e\n\u003cp class=\"lst_crct\"\u003e\u003c\/p\u003e\u003cli\u003e2024 CapEx: $368m\u003c\/li\u003e\u003cli\u003e2025 guidance: $350-380m\u003c\/li\u003e\u003cli\u003eCapEx vs cashflow: large upfront outflows vs future reserve-driven revenue\u003c\/li\u003e\n\u003c\/pfresnillo\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and ESG Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eFresnillo spends materially on regulatory compliance and ESG: in 2024 it reported US$85m on environmental and community programs, covering water treatment, land-reclamation bonds, and local social projects-costs seen as essential to retain operating permits.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eWater treatment upgrades: ~US$30m (2024)\u003c\/li\u003e\n\u003cli\u003eLand reclamation bonds: ~US$25m\u003c\/li\u003e\n\u003cli\u003eCommunity\/social projects: ~US$30m\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFresnillo 2024 cost snapshot: $790\/oz cash, $368m CapEx, $220m consumables, $85m ESG\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eFresnillo's main costs: wages (~12,000 employees, 20-30% opex), cash costs ~$790\/oz Ag-eq (2024), energy 8-12% of cash costs with 45 MW renewables (2024), consumables\/repairs ~$220m (2024), CapEx $368m (2024; $350-380m guidance 2025), ESG\/regulatory ~$85m (2024).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eEmployees\u003c\/td\u003e\n\u003ctd\u003e~12,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash cost\u003c\/td\u003e\n\u003ctd\u003e$790\/oz Ag-eq\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eConsumables\u003c\/td\u003e\n\u003ctd\u003e$220m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCapEx\u003c\/td\u003e\n\u003ctd\u003e$368m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eESG spend\u003c\/td\u003e\n\u003ctd\u003e$85m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSales of Primary Silver Production\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSales of primary silver production account for the largest share of Fresnillo plc revenue, with silver output of 49.5 Moz (million ounces) in 2024 generating roughly 62% of metal sales value; the company's cash flow and EBITDA move with the LBMA silver price, which averaged about 25.40 USD\/oz in 2024. This stream benefits from silver's dual role as an investment asset and industrial metal, supporting steady demand across jewellery, electronics and investment bars.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGold Production and Sales Revenue\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eGold is Fresnillo plc's second-largest revenue stream, accounting for about 22% of 2024 group revenue (roughly $1.1bn of $5.0bn total), and its status as Mexico's largest gold producer (≈700koz gold in 2024) makes gold central to earnings.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLead and Zinc By-product Sales\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDuring flotation and smelting at Fresnillo plc (FY 2024 revenue: $2.1bn), significant lead and zinc are recovered and sold as by-products, which in 2024 reduced cash costs by an estimated $150-200\/oz Ag-equivalent, adding roughly $180m in non-precious metals revenue and diversifying income across metal cycles.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRevenue from Hedging and Financial Instruments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo plc sometimes uses derivatives to hedge base metal prices and FX; in 2024 hedging gains contributed about $24m, helping offset a 12% drop in realized metal prices versus 2023 and stabilizing operating cash flow.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHedging gains ~ $24m in 2024\u003c\/li\u003e\n\u003cli\u003eHelped offset a 12% price decline YoY\u003c\/li\u003e\n\u003cli\u003eReduces cash-flow volatility from metal and FX swings\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInvestment Income and Joint Venture Returns\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFresnillo earns investment income from minority stakes and joint ventures, notably profit shares from the Juanicipio mine (Fresnillo 56.25% economic interest via a 2015 JV), which contributed roughly $120-150m in attributable EBITDA-equivalent returns in 2024, funding capex and dividends.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eJuanicipio profit-share ~ $120-150m (2024 est)\u003c\/li\u003e\n\u003cli\u003eMinority JV dividends provide recurring capital\u003c\/li\u003e\n\u003cli\u003eReturns support reinvestment and dividend policy\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSilver drives 62% of revenue-49.5 Moz; gold 22%, by‑products \u0026amp; JV boost 2024 cashflow\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003ePrimary silver sales ~62% of metal value (49.5 Moz, 2024; LBMA silver avg $25.40\/oz); gold ~22% (~700 koz, ~$1.1bn of $5.0bn revenue); lead\/zinc by‑products added ~$180m and cut cash costs ~$150-200\/oz Ag-eq; hedging gains ~$24m; Juanicipio profit-share ~$120-150m (2024 est).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eStream\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSilver\u003c\/td\u003e\n\u003ctd\u003e49.5 Moz; 62%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGold\u003c\/td\u003e\n\u003ctd\u003e700 koz; 22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBy‑products\u003c\/td\u003e\n\u003ctd\u003e$180m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHedging\u003c\/td\u003e\n\u003ctd\u003e$24m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eJV\u003c\/td\u003e\n\u003ctd\u003e$120-150m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354802889035,"sku":"fresnilloplc-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/fresnilloplc-canvas-business-model.webp?v=1779138452","url":"https:\/\/valuechainanalysis.com\/products\/fresnilloplc-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}