MEXICO CITY (dpa-AFX) - Fresnillo Plc (FRES.L), a Mexican precious metals mining company, on Wednesday registered a decline in Gold and silver production for the second-quarter. However, it posted an increase in lead and zinc output.
In addition, the miner has reaffirmed its annual Gold and silver production guidance.
For the second-quarter, Gold production stood at 130,025 oz, lower than 152,380 oz, recorded for the same period last year.
The decline was attributed to the lower ore grade and decline in recovery rate at Herradura and the mine closure plan at Noche Buena.
Total silver output, including Silverstream, dropped to 14,655 koz from previous year's 14,860 koz.
This is a result of the lower ore grade, decreased volume of ore processed and lower recovery rate at San Julian DOB and a drop in volume of ore processed and lower ore grade at Fresnillo, partly offset by the higher ore grade and increased volume of ore processed at San Julian Veins and Saucito and higher ore grade at Cienega.
Lead production improved to 16,906 tons from 13,994 tons a year ago.
Zinc production stood at 29,240 tons as against 25,670 tons in 2023.
This increase in by-product lead and zinc production is due to higher ore grades and the increase in volume of ore processed at Saucito, and higher ore grades at Fresnillo and Juanicipio, partly offset by the decreased contribution from San Julian DOB as it approaches the end of its life.
Looking ahead, for the full year, the company still expects Gold production of 580 koz to 630 koz with silver output of 55 moz to 62 moz.
Fresnillo will release its interim results on July 30.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
