
According to me-metals cited from mining.com, For the six months ending June 30, gold production rose 16% to 314,000 ounces, fuelled by operational gains at the Herradura mine in Sonora. In contrast, silver output fell 12% year-over-year to 24.9 million ounces, weighed down by mine closures and lower ore grades.
The company responded to the performance by revising its full-year guidance. Fresnillo now expects to produce between 550,000 and 590,000 ounces of gold, up from a previous range of 525,000 to 580,000 ounces. The upward revision reflects both operational improvements and stronger metal prices, along with continued cost discipline, the company said.
Silver guidance was lowered slightly to a range of 47.5 million to 54.5 million ounces, down from 49 million to 56 million. Fresnillo attributed the cut to the end of silverstream contributions following a buyback agreement with Peñoles, the planned closure of the San Julián DOB mine, and lower grades across several operations.
Revenue rose 30% year-over-year to $1.94 billion, while EBITDA more than doubled to $1.1 billion, up 103%.
Fresnillo also scaled back its capital expenditure for 2025 to $450 million, signalling a move away from aggressive expansion towards focused reinvestment. Project delays at Saucito and Juanicipio prompted a reshuffling of priorities, with the company now aiming to optimize its existing asset base.
Fresnillo’s shares closed at 1,520p in London, giving it a market cap of nearly £11.2 billion ($14.9 billion).
source: mining.com