With work on the grid completed, Fresnillo (LON:FRES) said today that its Juanicipio operations will start up at the end of October.
The underground mine is located in Zacatecas is expected to produce 11.7 moz silver and 43.5 koz gold annually. Juanicipio is a joint venture with MAG Silver, which own 44% and Fresnillo 56%.
Octavio Alvídrez, CEO of Fresnillo said the final tie-in to the electrical grid have been completed and all systems are ready to be energised.
"We continue to make good progress to complete the tie-in of the new Juanicipio mine to the national grid and I am pleased that we are a step closer to achieve this important milestone," said Alvidrez. "We have undertaken extensive testing work to ensure tie-in proceeds smoothly. However, safety has always been at the core of our activities and we fully understand the prudent approach taken by the electricity regulator. Juanicipio is our next major growth project, the ninth new mine we have successfully constructed since we listed in London in 2008. Juanicipio will make a material contribution to our production from 2023 and we look forward to its successful commissioning in the fourth quarter."
