Fresnillo Increases Silver Production in Q3, Maintains 2022 Guidance

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(Kitco News) – Fresnillo (LSE:FRES), the world’s largest primary silver producer, today announced that in the third quarter of 2022, its attributable silver production of 13.6 moz increased by 7 .4% compared to the third quarter of 2021 due to the higher contribution from Juanicipio, more ore processed and at ore grade at Fresnillo and higher ore grade at Saucito.

However, the Company’s attributable Q3 2022 gold production of 159.2 koz decreased 7.7% from Q3 2021, primarily due to a lower recovery rate as higher volumes of sulphide ore are processed and a lower ore grade at Herradura, and a decrease in the volume of ore processed and lower ore grade at Noche Buena and Ciénega.

Fresnillo added that its quarterly attributable by-product lead and zinc production increased 3.1% and 11.5% from Q3 2021 respectively, primarily due to a higher volume of ore processed at Fresnillo. and the increased contribution to Juanicipio.

Importantly, the company said it remains on track to meet its full-year 2022 guidance of 50.5-56.5 moz of attributable silver and 600-650 koz of silver production. attributable gold.

CEO Octavio Alvídrez commented: “We delivered a strong quarter of production, with continued improvement in volumes at Fresnillo and Saucito, particularly positives, although this was partially offset by lower ore throughput and the expected variability in grade at the San Julián disseminated orebody.

“Recruitment and training campaigns are underway in what remains a very tight labor market in Mexico, which, along with industry-wide supply bottlenecks, creates a difficult operating environment. . Nonetheless, we are confident in the overall performance of the business and our full-year production guidance remains unchanged.”

“Our focus in the last quarter is to meet our 2022 targets, continue to grow volumes in the Fresnillo district and deliver a rapid ramp-up of our new Juanicipio mine, while still prioritizing the safety and well-being of our staff,” he added.

Fresnillo is the world’s largest primary silver producer and Mexico’s largest gold producer. Fresnillo has seven operating mines, all in Mexico – Fresnillo, Saucito, Ciénega, Herradura, Soledad-Dipolos, Noche Buena and San Julián, two development projects – the pyrite plant at Fresnillo and Juanicipio, and a number of projects of exploration. Fresnillo owns mining concessions and exploration projects in Mexico, Peru and Chile.

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

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