Fresnillo slashes gold guidance

Mexico-focused miner Fresnillo yesterday reduced its full-year gold guidance by 8.4 per cent, down to 425,900 ounces. Silver production remains unchanged at 41m ounces. The FTSE 100-quoted firm reiterated its belief that there is no reason why a temporary explosives ban for two of its mines, Herradura and Soledad, should not be lifted. Fresnillo is the world’s largest primary silver producer and Mexico’s second largest gold producer.