Fresnillo cautiously upbeat as it notes improving outlook

(Alliance News) - Fresnillo PLC on Thursday said it has "solid grounds for optimism" in 2021 as ...

Alliance News 24 June, 2021 | 8:30AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Fresnillo PLC on Thursday said it has "solid grounds for optimism" in 2021 as it anticipates operations at its Juanicipio mine in Mexico.

Ahead of the firm's annual general meeting on Thursday, Chair Alejandro Bailleres said: "Fresnillo is in a strong position, supported by a proven strategy, a positive culture and an expert executive team. Production has stabilised as expected and the pipeline of new mines and projects - together with a series of improvement programmes, as well as an improving outlook more generally - provides us with solid grounds for optimism. "

At its joint-owned Juanicipio mine, construction is on track for operations to begin by the fourth quarter of 2021. Further, production will also be increased when operations at the recently-completed Pyrites Flotation Plant at the Fresnillo mine in Zacatecas begin.

The FTSE 100-listed precious metals miner noted that its new "state-of-the-art" tunnel boring machine, designed with the manufacturer specifically for its Fresnillo mine, has successfully started operating.

"Our exploration teams continue to identify and develop potential projects for our pipeline, including at Rodeo, which we expect to become our next open pit gold mine," it added.

Despite lingering working restrictions, the company said its advances to date offer grounds for "cautious optimism".

Fresnillo shares were trading up 0.5% at 817.95 pence each in London on Thursday morning.

By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Fresnillo PLC 632.50 GBX -0.94 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures