Fresnillo speeds up Juanicipio mine gold and silver production timeline

Feb 24 (Reuters) - Fresnillo on Monday brought forward the production date for its Juanicipio project in Mexico to mid-2020 at an additional cost of $45 million, as it factored in expenses on underground development of the mine, part of which is held by Toronto-listed MAG Silver.

Fresnillo announced plans last July to cut capital investment and costs after its core profit almost halved in the first six months of 2019, sending its shares to a three-year low.

The precious metals miner had cut its full-year production forecast four times last year due to lower-quality ore and construction delays. (Reporting by Muvija M in Bengaluru; Editing by Bernard Orr)