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Precious Metals

Fresnillo says Q1 silver output up 12.5 per cent, to meet FY targets

Precious metals miner Fresnillo

Precious metals miner Fresnillo Plc. said its silver production rose 12.5 per cent in the first quarter due to higher ore grades at its Fresnillo and Cienega mines in Mexico.

The company, which mines silver and gold at six mines in Mexico, said silver production hit 12.4 million ounces for the quarter ended March 31.

Gold production for the quarter, however, fell 3.3 per cent to 222,290 ounces due to lower grades at the company’s Herradura mine and a one-off reduction of inventory levels. The company said it was on track to meet its 2017 production guidance of 58 million-61 million ounces of silver and 870,000-900,000 ounces of gold.

Paul

The author Paul