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Fresnillo forecasts higher silver production in 2017

Reuters - UK Focus

Jan 25 (Reuters) - Fresnillo Plc (Frankfurt: A0MVZE - news) forecast higher silver production in 2017, after reporting record high 2016 production.

The company set 2017 silver production target of 58 million ounces to 61 million ounces.

Fresnillo, which mines silver and gold from six mines in Mexico, reported a 7.1 percent rise in 2016 production to 50.3 million ounces, in line with its guidance.

The company attributed the rise to the start of phase 1 at its San Julian mine and in part to higher silver grades at its Cienega and Fresnillo operations.

It said it expects to attain steady inventories after inventory reductions at its Herradura operation in Mexico last year. (Reporting by Esha Vaish in Bengaluru; editing by Jason Neely)