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Fresnillo sees lower gold production in 2021 on landslip at Noche Buena
StockMarketWire.com
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Mining giant Fresnillo forecast lower gold production for 2021 owing to landslip at one of its mines.
For 2021, full year gold output was expected to come in at 675,000 to 725,000 ounces, below expectations for 769,618 ounces for 2020.
The fall in the gold output was mainly due to a the impact of a 'minor land slip at Noche Buena,' the company said.
While silver production was expected in the range of 53.5 to 59.5 moz, compared with expectations for 53.1 moz in 2020.
In the fourth quarter silver output slipped quarter-on-quarter, but gold output was increased.
For the three months ended 31 December, attributable silver production was 13 million ounces, down 2.5% sequentially and down 6.0% year-on-year, driven by a lower ore grade and volume of ore processed at Saucito, the company said.
Quarterly attributable gold production was up 24.8% 215.6 koz in the fourth quarter from the third, but fell 7.8% year-on-year due in part to a lower recovery rate at Herradura compared to the same quarter in 2019.
At 8:18am: (LON:FRES) Fresnillo PLC share price was 0p at 1124p
Story provided by StockMarketWire.com
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