October 23, 2019 / 6:56 AM / 23 days ago

Miner Fresnillo expects lower annual output as Q3 production drops

Oct 23 (Reuters) - Precious metals miner Fresnillo Plc said on Wednesday annual silver and gold production would be at the lower end of an already reduced target range, after reporting a fall in output for the third quarter due to lower ore grades.

Fresnillo’s silver production slumped 14.5% to 13,283 kilo ounces (koz) for the three months ended Sept. 30, while gold production fell nearly 7% to 209.8 koz.

The FTSE 100-listed miner now expects annual output at the lower end of 55-58 million ounces of silver and 880-910 koz of gold.

Fresnillo had slashed the forecasts in July from prior targets of 58-61 million ounces and 910-930 koz. (Reporting by Shanima A and Muvija M in Bengaluru; Editing by Arun Koyyur)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below