Fresnillo Q3 silver output up 9.3%

14th Oct 2009 07:33

Fresnillo said silver production increased 9.3% during its third quarter and said it was on track to achieve a good outcome for 2009 as a whole.Commenting on trading, chief executive officer Jaime Lomelín said, "The company will benefit from the stronger precious metal prices over the period, and we are confident that solid production, higher prices and our ongoing efforts to optimise productivity and reduce costs will ensure a good outcome for 2009 as a whole."The miner produced a record 9.75m troy ounces of silver for the three months to 30 September compared with 8.92m ounces the same quarter a year before. Gold production increased 4.5% to 63,610 ounces from 60,859 ounces, the company said. Fresnillo said it was on track to reach full-year production targets of 40.1m ounces of silver and 265,000 ounces of gold.