23rd Jul 2025 08:40
(Alliance News) - Fresnillo PLC on Wednesday reported higher mine production in the second quarter of the year, compared to the first quarter, though silver output was down from a year before.
The London- and Mexico City-based silver and gold miner operates eight mines in Mexico and also has mining concessions and exploration projects there and in Peru and Chile. It is one of the world's largest silver producers and is Mexico's largest gold producer.
Fresnillo said total silver production in the second quarter that ended June 30 rose 1.0% to 12.5 million ounces from 12.4 million ounces in the first quarter, but declined 15% on-year from 14.7 million ounces.
Gold production edged up 1.0% on-quarter to 157,735 ounces from 156,105 ounces and was up 21% from 130,025 ounces the year before.
By-product output also was up on the first quarter, though down on a year before. Lead production of 15,152 tonnes in the second quarter, was up 0.8% from 15,030 in the first but down 10% from 16,906 tonnes a year before. Zinc production also fell against the prior year, down 2.9% to 28,403 tonnes from 29,240, though was up 13% from 25,249 tonnes in the first quarter.
The miner's outlook for 2025 remains in line with its previous guidance, with attributable silver production expected between 49.0 and 56.0 million ounces, gold between 525,000 and 580,000 ounces, lead between 56,000 to 62,000 tonnes, and zinc between 93,000 to 103,000 tonnes. Total production is anticipated to be 91 million to 102 million ounces of silver equivalent.
Expected production in 2026 and 2027 also is unchanged, Fresnillo said.
"Gold production is trending towards the upper end of our full-year guidance, driven by a strong performance at Herradura, while silver production remains in line with guidance albeit impacted by the weaker Silverstream contribution and lower grades at the Fresnillo mine," Chief Executive Officer Octavio Alvidrez.
"Our rigorous focus on operational optimisation and cost reduction initiatives continues to yield positive results, combined with favourable precious metals price."
Fresnillo will release its full interim results on August 5.
Fresnillo shares were down 2.0% to 1,437.00 pence early Wednesday in London.
By Tom Waite, Alliance News editor
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