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Precious metals miner Fresnillo's 2017 profit rises over 3 pct

Kitco News

Feb 27 (Reuters) - Precious metals miner Fresnillo Plc on Tuesday posted a 3.2 percent rise in annual profit, helped by record silver production.

Silver production rose 16.6 percent to 58.7 million ounces in the year ended Dec. 31, following the first complete year of San Julián phase I operating at full capacity and the start of phase II operations.

The company, which mines gold and silver in Mexico, said full-year profit before tax rose to $741.5 million from $718.2 million, while revenue climbed 9.9 percent to about $2 billion.

(Reporting by Arathy S Nair in Bengaluru; Editing by Subhranshu Sahu)

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