Precious metals miner Fresnillo said on Wednesday annual silver and gold production would be at the lower end of an already reduced target range, after reporting a fall in output for the third quarter due to lower ore grades.
Fresnillo's silver production slumped 14.5% to 13.28-million ounces for the three months ended September 30, while gold production fell nearly 7% to 209 800 oz.
The FTSE 100-listed miner now expects annual output at the lower end of 55-million to 58-million ounces of silver and 880 000 oz to 910 000 oz of gold.
Fresnillo had slashed the forecasts in July from prior targets of 58-61 million ounces and 910-930 koz