Fresnillo Just Misses 2013 Gold Production Target

Reuters reported that Mexico’s Fresnillo plc (LSE:FRES) reached its 2013 silver production target, but, as a result of a ban on the use of explosives at one of its mines, did not hit its target for gold production.

As quoted in the market news:

The FTSE 100 miner, the world’s largest primary silver producer, produced 42.7 million ounces of attributable silver (including silverstream) in 2013 – up 4.3 percent on the previous year and ahead of the 41 million ounces it had forecast.

It produced 425,831 ounces of gold, just below revised guidance of 425,900 ounces. Fresnillo cut its forecast for 2013 gold production by 8.4 percent last December due to a ban on the use of explosives at its Minera Penmont mine.

Click here to read the full Reuters report.