Fresnillo plc lowers its silver production by 5.1%

Fresnillo plc registered a 5.1% year-on-year drop in its silver production in the second quarter, to 12 million 944,000 ounces.

The company‘s main operations are in Mexico, a country it describes with significant geological resources, strong potential for continued growth, a skilled workforce and solid infrastructure, and a mining history spanning more than 500 years.

In total, Fresnillo plc has mining concessions that cover approximately 1.7 million hectares in Mexico, providing around 17,927 jobs.

From January to June, Fresnillo plc silver production was 25,491,000 ounces, a 2% decrease at the annual rate.

The lower silver production was due to the lower ore grade expected in Saucito and, to a lesser extent, less ore grade in the San Julián disseminated ore body, as well as lower volume of processed ore and grade ore in San Julian Veins.

Fresnillo plc

Despite the uncertainty, the 2020 silver production guide remains in the range of 51 to 56 million ounces (including Silverstream), while gold production is now expected to be in the range of 785,000 to 815,000 ounces ( formerly 815,000 to 900,000 ounces), as a result of Covid-19 related outage.