(Kitco News) - Fresnillo (LSE: FRES), the world's largest primary silver producer, announced today that its attributable silver equivalent output was 52.3 moz in first half of 2022 (H1 2022), down 15% compared to 61.8 moz produced in H1 2021.
The company said that its H1 2022 attributable silver production of 27.6 moz (including Silverstream) was in line with H1 2021 (27.5 moz) as the expected lower ore grade at San Julián DOB and lower volume of ore processed at Saucito was offset by the increased contribution of ore from Juanicipio.
However, the company’s H1 2022 attributable gold production of 308.8 koz was down 27.9% over H1 2021 (428.4 moz) primarily due to a decrease in the volume of ore processed and lower ore grade at Herradura and Saucito.
Similarly, Fresnillo’s H1 2022 attributable by-product lead and zinc production decreased 15.6% and 5.7% over H1 2021 respectively, primarily due to lower volumes of ore processed and ore grades at Saucito and a decrease in ore grades at San Julián DOB.
Importantly, the company reiterated it remains on track to meet its full year 2022 guidance of 50.5 to 56.5 moz of attributable silver (including Silverstream) and 600 to 650 koz of attributable gold production.
Fresnillo is the world's largest primary silver producer and Mexico's largest gold producer. Fresnillo has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega, Herradura, Soledad-Dipolos, Noche Buena and San Julián, two development projects - the Pyrites Plant at Fresnillo and Juanicipio, and a number of exploration projects. Fresnillo has mining concessions and exploration projects in Mexico, Peru and Chile.
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