The Peñasquito mine, owned and operated by Goldcorp, is Mexico's largest open pit mine and is located in the northeastern portion of the state of Zacatecas. It consists of two open pits: Peñasco and Chile Colorado, containing gold, silver, lead and zinc. The site consists of two 50,000t/d capacity sulphide processing lines and a 30,000t/d capacity high pressure grinding roll circuit. The sulphide ore is processed through a conventional crushing, milling and flotation facility that produces lead and zinc concentrates. Peñasquito, which achieved commercial production in 2010, is forecast to produce an average of approximately 28Moz/y silver over a 13-year mine life. Full-year 2014 production is expected to range between 530,000oz and 560,000oz gold, 22Moz and 25Moz silver, 315Mlb to 325Mlb zinc and 135Mlb to 145Mlb lead. 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, prefeasibility studies for the concentrate enrichment process project and the pyrite leach project are advancing, and are scheduled to be completed in late 2014 and early 2015, respectively. In April 2007, Silver Wheaton agreed to purchase 25% of all the silver produced from Peñasquito, over its entire mine life. Precious metals royalty company Royal Gold holds a 2.0% net smelter return royalty on all metals at the Penasquito project.