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Fresnillo's gold, zinc, lead production up, silver down in Q1'16


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Fresnillo's gold, zinc, lead production up, silver down in Q1'16

Latin America-focused miner Fresnillo Plc's production in the first quarter increased26.3% for gold to 229,925 ounces, 17.3% for lead to 11,082 tonnes and 27.1% forzinc to 12,851 tonnes, while production dropped 1.7% for silver to 12.2 millionounces, on a yearly basis.

According to an April 13 release, total silver production wasaffected by lower ore grade at the Saucitomine due to the unusually high ore grade in the year-ago quarter, resulting in a2.3% drop in production to 11 million ounces, partially offset by a 5.0% increasein silverstream to 1.2 million ounces.

Gold production was up as a result of higher overall speed ofrecovery and increased ore processed at the Herradura mine, the company said.

The byproduct zinc and lead production increased as a resultof higher ore grades at the Fresnilloand Cienega mines.

Fresnillo said it is on track to achieve its full-year productionguidance of 49 million ounces to 51 million ounces of silver, including 4.0 millionounces from the silverstream, and 775,000 ounces to 790,000 ounces of gold.

In full year 2015, Fresnillo beat the revised guidance of 715,000 ounces to 730,000 ouncesfor gold production, with 761,712 ounces produced, a 27.8% year-over-year jump,while silver production in 2015 increased 4.4% over the 2014 figure to 47 millionounces.