Fresnillo silver output up 9%

27th May 2009 07:10

Mexico-based silver miner Fresnillo reports a strong start to 2009, with silver production up 9% on last year and stable gold production."In US dollar terms, our costs are declining compared to last year due to a higher exchange rate, lower input costs and our ongoing cost control programme. This year we are expecting the ongoing operational efficiencies at our mines to result in a slightly higher level of silver and gold production than that achieved in 2008," it told shareholders ahead of its AGM. Production at gold project, Soledad-Dipolos, is expected to begin in the first quarter of 2010, while the Saucito silver and gold project, close to the existing Fresnillo mine is on track to commence production in 2011.