Fresnillo cuts 2019 production targets

Fresnillo said it was cutting 2019 production targets, blaming lower-than-expected grades of ore grades and delays in construction work at the Herradura gold mine in Mexico.

“As we have previously guided, we expected 2019 to be challenging and we remain cautious,” the miner said.

Gold production was forecast at 880,000-910,000 ounces from an earlier target of 910,000-930,000 ounces. Silver production was cut to 55m - 58m ounces from 58m – 61m.

"Production has continued to recover towards target levels since the first quarter as we begin to see the positive impact of operational measures and investments we have made into infrastructure, equipment and infill drilling, in particular at our Fresnillo and Saucito mines,” Fresnillo said.