https://www.engineeringnews.co.za

Fresnillo first-quarter production slumps, sticks to full-year targets

11th April 2019

By: Reuters

  

Font size: - +

Precious metals miner Fresnillo reported a fall in first-quarter production on Thursday, calling it "slightly weaker than anticipated" but sticking to output targets for the year as spending on tackling operational issues paid off.

Silver output slipped 14.8% to 13.1-million ounces in the three months ended March 31, mainly owing to lower grades of ore and lower ore throughput, Fresnillo said. Gold production dropped by 8.8%.

"We expect to realise the benefits from the investments we have made into infrastructure, equipment and an extensive infill drilling programme, which will all have a positive impact on production in the second half," Octavio Alvídrez, Fresnillo CEO, said.

The company, which mines gold and silver in Mexico, reported lower than expected full-year profit in February, while warning of headwinds, including lower precious metals prices for 2019.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.062 1.222s - 140pq - 2rq
Subscribe Now