Foreign media January 24, the world’s largest silver producer Fresnillo plc Wednesday, the fourth quarter of last year, silver production increased by 20%, because the San Julian mine in Mexico launched the second phase of operation.
Fresnillo said silver production was 16 million ounces in the four quarter, a 11% increase from the previous quarter.
Total Fresnillo silver production was 58.7 million ounces in 2017, an increase of 17% over the previous year. The company says it meets previous production targets.
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But Fresnillo said gold production fell 13% to 232,051 ounces in the four quarter from a year earlier, as inventories of Herradura ore declined.
The total gold production in 2017 was 911,132 ounces. The company said the level exceeded its target, but it cut 2.6% from the previous year as inventories of Herradura ore declined and ore grade declined.
Fresnillo expects 2018 silver production to be 6,700-70 million ounces, with a gold yield of 87.9 million ounces. The company says the 2018-year exploration budget is $200 million trillion, including capital spending.
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