Silverstream (Sabinas)
Project information
As at 31 December 2024
Description
As at 31 December 2024
Silverstream contract over silver production from the Sabinas mine in Zacatecas, Mexico, operated by Industrias Peñoles. Fresnillo receives silver deliveries under the agreement; Silverstream-accrued ounces are included in attributable silver production totals shown alongside Fresnillo's own-mine production. The Silverstream contract is accounted for as a derivative financial instrument on Fresnillo's balance sheet (Note 14 / Note 30 to the financial statements). The 2024 revaluation booked $182.3m unrealised gain to the income statement (vs ($7.7m) in 2023). The contract represents a long-term derivative asset whose valuation is reviewed quarterly by EY (Key Audit Matter). The contract contains no formal 'change of control' provisions.
Stream interests
Multiple effective dates
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