Fresnillo keeps production guidance intact as operating plans on track
Fresnillo PLC on Wednesday said its 2026 outlook is in line with previous guidance, as its gold production showed "strong sequential momentum".
The precious metals miner in Mexico, Peru and Chile said attributable silver production was 10.9 million ounces in the second quarter, down 1.7% from the first quarter and down 13% annually.
Gold production was 154,800 ounces, up 14% on-quarter but down 1.9% on-year, mostly due to a lower ore grade at Herradura and San Julian Veins, while mitigated by the higher ore grade at the Fresnillo mine.
By-product lead and zinc production increased 13% and 5.9% on-quarter, respectively. This was mainly driven by a higher ore grade and a higher volume of ore processed at Fresnillo, partly offset by the lower ore grade at Saucito.
Chief Executive Officer Octavio Alvidrez said "our operational plans are tracking in line with expectations" for the second half.
"We have delivered a solid operational performance in the second quarter, driven by consistent execution across our asset portfolio."
He added: "Our focus remains firmly on operational discipline, and we remain on track to meet our full-year production guidance." This is attributable silver production of 42.0 million to 46.5 million ounces and attributable gold production of 500,000 to 550,000 ounces.
Fresnillo said its production outlooks for 2027 and 2028 also remain unchanged.
Fresnillo shares were up 2.3% to 2,626.14 pence each on Wednesday morning in London.
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