Fresnillo Q3 silver production falls, gold production flat

Mining company Fresnillo said on Wednesday that it had seen a fall in silver production over the third quarter, as well as flat gold production throughout the period.

Fresnillo said silver production had slipped 6.4% quarter-on-quarter to 12.78m ounces, while gold production was up just 0.2% at 159,205 ounces.

However, despite the quarterly drop in silver production, Fresnillo said it was "confident" in the group's overall performance and stated it remains on track to meet full-year guidance of 50.5m-56.5m ounces of attributable silver and 600,000 to 650,000 of attributable gold production.

Chief executive Octavio Alvídrez said: "Our focus in the final quarter is to achieve our 2022 targets, continue to drive volumes in the Fresnillo District, and deliver a rapid ramp-up of our new Juanicipio mine, while always prioritising the safety and wellbeing of our people."

As of 0820 BST, Fresnillo shares were up 0.28% at 716.20p.

Reporting by Iain Gilbert at Sharecast.com