February 28, 2017 / 7:40 AM / 6 months ago

Miner Fresnillo's FY profit jumps six fold on higher output, prices

Feb 28 (Reuters) - Precious metal miner Fresnillo Plc reported a more than six-fold jump in its profit for the year, boosted by higher production and metal prices and a weak Mexican Peso.

The company, which mines silver and gold from six mines in Mexico, reported profit of $425.0 million for the year ended Dec. 31, compared with $69.4 million reported a year earlier. Total revenue rose 31.9 percent to $1.91 billion.

Silver production was up 7.1 percent to 50.3 million ounces, while gold production for the year was up 22.8 percent to 935,513 ounces. Capital expenditure for the year was $434.1 million, 8.6 percent lower than 2015 and below guidance. (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)

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