By Emma Haslett
Fresnillo is making hay while the sun shines: the precious metals miner said today it is hiking gold production, as investors flee to safe havens following the Brexit vote.
In a quarterly update this morning, Fresnillo said it expected full-year silver production to increase six per cent compared with 2016.
It produced 13m ounces of silver during the quarter, up 14.5 per cent from from the same period last year, and 6.3 per cent up from the first quarter of this year. In the first half, that figure was 25.2m ounces, up 6.1 per cent from the same period last year.
Gold production hit 218,000 ounces in the first half, up 19.6 per cent from the same period last year, and 448,000 ounces in the first half, up 23 per cent from the same period last year.
However, gold production fell 5.3 per cent on from the previous quarter as it carried out maintenance at the Herradura storage pond.
But it said it expected to make that up during the full-year, raising full-year guidance to 850,000-870,000 ounces, from 775,000-790,000 ounces before.