Fresnillo celebrates 10-year LSE anniversary
Fresnillo, the world’s leading producer of silver and Mexico’s largest gold producer, on Thursday celebrated ten years of being listed on the LSE.
Fresnillo listed on the LSE following its spin-out from parent company Peñoles.
On its admission to the main market of the LSE, Fresnillo joined the FTSE 100 index, where it has remained.
Since the initial public offering (IPO), Fresnillo has invested more than $6-billion to sustain and expand its operations, develop new projects - from three mines in 2008 to seven today - undertake strategic acquisitions and increase silver equivalent resources by 158%.
The company achieved its IPO target for gold production of 750 000 oz three years ahead of plan, up from 264 000 oz in 2008, and remains on track to deliver its ten-year silver production of 65-million ounces in 2018, up from 37.8-million ounces 2008.
Fresnillo has returned $2.5-billion in dividends to shareholders, having never failed to pay an interim and final dividend since listing. The company’s share price has grown from 555p to 1 338p, outperforming the FTSE 100 market by more than 118%.
“We can look back on our first ten years as a London listed business with real pride. I would like to thank all our employees for their huge efforts, as well as our shareholders for their continued long-term support.
“We are also proud to represent Mexico on the London Stock Exchange and to have been one of the first Latin American companies to seek a London listing. Our presence in London has been integral to our ability to support our growth over the years and we look forward to this continuing into the future,” commented chairperson Alberto Baillères.
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