Fresnillo shares jump on explosives permit decision

11th Feb 2014 15:27

Shares in Fresnillo jumped on Tuesday afternoon after the precious metals miner announced the decision by a Mexican district court to deny the request by the Ejido El Bajío to prevent the lifting of the explosives permit covering its Herradura and Soledad mines.Fresnillo said it would present the decision before the Mexican Ministry of Defense (MOD) as additional support for the lifting of the suspension of explosives. The group confirmed in a statement its view that there are "no legal grounds" why the suspension should not be lifted by the MOD.Ejido has the right to a final and definitive appeal before a higher court. The company's share price leapt 5.57% to 910p by 15:35. NR