Fresnillo reports record silver production

16th Jul 2009 07:14

Mexico-based silver miner Fresnillo reported a record quarterly attributable silver production of 9.6 million ounces, up 6.7% from last year, and said it remains confident of achieving its full year 2009 production target levels.The second quarter 2009 gold production was steady when compared with the second quarter 2008, up by 5.3% as a result of higher ore grade at Ciénega and an increase in ore deposited and better recoveries at Herradura. However, total attributable gold production for the fist half of 2009 decreased by 4.6%. Total attributable silver production for the six month period increased by 7.8%, creating a new half-year silver production record."Despite the current economic climate, volatile commodities prices and several challenges presented during this year, the company has met its production, development and exploration targets for the period," said chief executive Jaime Lomelín."This excellent result is further evidence of the management's experience, dedication and ability to face economic cycles and adversities."