Mexico’s Fresnillo Sees No Acquisitions for Now

Reuters reports that Mexican miner Fresnillo will invest $800 million this year on expanding projects and exploration, rather than in new acquisitions, in its effort to become the world’s No. 1 producer of silver.

The market news is quoted as saying:

“Given current metal prices, we think that all the companies we could be interested in purchasing carry a price tag that is out of reach,” Fresnillo’s (FRES.L) (FRES.MX) Chief Executive Jaime Lomeli told reporters on Wednesday.

“Organic growth is always much healthier,” he said.

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