Investment by Fresnillo up 12% this year
Mexico.- The Mexican mining company Fresnillo, largest primary silver producer in the world, will increase their investments 12% this year over 2011, mainly to give greater impulse to exploration projects.
Jaime Lomelin, CEO, informed last Thursday that from the total amount, around US$800 million, US$360 million will be allocated to exploring deposits in Mexico and Peru; around US$150 will be spent in maintenance and the rest will go to new projects.
Lomelin said that the investment will be financed with resources obtained from the Company’s operation.
After participating in an event in Monterrey, Mr. Lomelin confirmed to the media the Company’s goal to produce 41 million ounces of silver and around 400,000 ounces of gold this year, in spite of volatility in precious metals prices.
Source: T21 | Date: 04/06/2012