Fresnillo first-quarter output in line with expectations
Mexico precious metals miner Fresnillo said on Wednesday that its first-quarter production was in line with expectations, reporting silver output of 13.2-million ounces and gold production of 197 000 oz.
Silver production was flat on a year-on-year comparison, but gold output fell by 6.7% when compared with the first quarter of 2019.
Fresnillo, which is listed in London, also produced 13 905 t of lead and 22 655 t of zinc.
CEO Octavio Alvídrez commented that production would be back-end-weighted this year.
He added that the miner continued to keep its full-year production guidance under review and said the timeline for the commissioning of the development projects would also be monitored closely.
“Our development pipeline progressed as expected with good advances in the construction of Juanicipio and the new Pyrites plant at Fresnillo,” said Alvídrez.
The company stressed that the safety of its employees and local communities remained a priority. It is in discussions with government officials at the federal and local level to seek ways in which the mining industry could maintain certain limited operations, while prioritising the wellbeing of workers and local communities. Those discussions remained ongoing.
“In light of the evolving environment, Fresnillo will keep full year production guidance under constant review. Fresnillo is well funded with sufficient cash balance to withstand any temporary disruption.”
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