Fresnillo on track to meet FY targets following improved Q2 silver production levels

Precious metals miner Fresnillo said on Wednesday that it remains on track to meet full-year targets and that its production guidance for 2021 was unchanged.

Fresnillo stated quarterly attributable silver production came to 14.89m ounces, up 17.9% on the first quarter, driven by higher than expected ore grade at its San Julián asset.

Quarterly attributable gold production of 200,163 ounces was down 12.3% quarter-on-quarter, primarily due to a lower ore grade and volume of ore processed at its dynamic leaching plant at Herradura.

The FTSE 100 added that lead production rose 6.8% to 16,386 tonnes and zinc production increased 7.0% to 27,687 tonnes.

"We remain on track to meet our full-year targets and our production guidance for 2021 is unchanged, though we remain vigilant around the continued evolution of the pandemic and its potential future effect on our operations, in particular the implementation of any future new work restrictions," said chief executive Octavio Alvídrez.

As of 0825 BST, Fresnillo shares were up 2.55% at 773.20p.