MEXICO CITY (dpa-AFX) - Precious metals miner Fresnillo plc (FRES.L) reported Wednesday that its fourth-quarter attributable silver production, including Silverstream, increased 13.1 percent to 14.16 million ounces from last year's 12.52 million ounces.
The result mainly was due to the ramp-up at Juanicipio, the higher ore grade at San Julián Veins and a higher volume of ore processed at Saucito, partially offset by the lower ore grade at Fresnillo and San Julián.
Quarterly attributable silver production edged up 0.4 percent sequentially.
Meanwhile, quarterly attributable gold production fell 9.1 percent to 152.6 koz primarily due to the decrease in the volume of ore processed at Herradura and the mine closure plan at Noche Buena, partly mitigated by the ramp-up at Juanicipio.
Quarterly attributable gold production climbed 15.1 percent sequentially.
Attributable by-product lead and zinc production went up 24.6 percent and 25.1 percent respectively, from last year.
For fiscal 2023, attributable silver production of 56.3 moz grew 4.7 percent, while attributable gold production of 610.6 koz was down 4 percent.
Octavio Alvídrez, Chief Executive Officer, said the company achieved full-year guidance of 105.1 million silver equivalent ounces.
Fresnillo will announce its full year 2023 results on March 5.
Looking ahead for fiscal 2024, the company said its outlook is in line with previous expectations, expecting attributable silver production in the range of 55.0 to 62.0 moz (including Silverstream), and attributable gold production in the range of 580 to 630 koz.
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