MEXICO CITY (dpa-AFX) - Mining company Fresnillo plc (FRES.L) on Wednesday reported that fourth-quarter total silver production, including Silverstream, dropped 3.2% from last year to 15.5 million ounces due to lower volumes of ore processed and ore grade at Fresnillo and Saucito.
Silver production dropped 2.1 percent to 14.65 million ounces, and Silverstream production fell 18.8 percent to 860 thousand ounces.
Quarterly gold production of 232 thousand ounces were in line with last year.
By-product lead and zinc production went up 18.8% and 30.1%, respectively, compared to last year.
In the year, total silver production including Silverstream grew 5.3% to 61.8 million ounces. Annual gold production of 923 koz were up 1.3%.
Looking ahead, for fiscal 2019, the company expects silver production to be slightly lower, in the range of 58 to 61 moz, including the Silverstream. Gold production is expected to be flat, in the range of 910-930 koz.
Further, the company said the Board approval for Juanicipio project is expected in early 2019.
In London, Fresnillo shares were trading at 890.12 pence, down 2.42%.
Copyright RTT News/dpa-AFX