Fresnillo has reported a year-on-year fall in gold and silver production
Miner Fresnillo has reported a year-on-year fall in gold and silver production following expected lower grades from its operations.
Its annual gold production fell 5.1% due to the planned closure of the Noche Buena mine and lower grade output from Fresnillo’s San Julián project in Mexico.
As a result of expected lower ore grade at Saucito as well as lower than expected ore grades at Fresnillo and San Julián Veins and DOB, the miner’s full year silver production of 54.6m ounces (including Silverstream) was down 11.6% year on year.
It has forecast 2020 silver production of 51m – 56m ounces, including Silverstream and gold production in the range of 815 to 900 koz.
The quarter-on-quarter production rose due to the impact of Fresnillo’s performance improvement plan, which included intensive infill drilling to “improve the certainty of the geological model, dilution control and raising development rates”.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.