Fresnillo confident on 2012 targets

City A.M. Reporter
Mexican miner Fresnillo this morning posted a 2.6 per cent increase in silver production over the third quarter compared to the year before.

The world’s largest silver producer said it was on track to meet its 2012 production target of 41m ounces of silver and 460,000 ounces of gold.

In the year to date, Fresnillo produced a record 375,637 ounces of gold, a 15.1 per cent increase over the same period in 2011. Quarterly gold production increased by 5.9 per cent in the third quarter, thanks to a strong performance from the new Noche Buena mine.

Chief executive Octavio Alvidrez said this morning: “Looking to the remainder of the year, Fresnillo is confident that it will continue to deliver growth through existing operations and new deposits and remains on track to meet its short and long term aspirations."