Fresnillo, the Mexican precious metals miner, has released its production results for the second quarter of the year. While silver production saw a significant increase of 13% compared to the previous quarter, gold output experienced a slight decline of 12%.
In Q2, Fresnillo produced a total of 14.9 million ounces of silver, surpassing the 13.16 million ounces produced in Q1. However, gold production fell to 152,380 ounces from the previous quarter’s 173,034 ounces.
The surge in silver output can be attributed to the successful ramp-up of the new Juanicipio mine. On the other hand, the drop in gold production is a result of lower ore volume processed at the Herradura mine due to temporary suspension of operations, as previously reported in May.
Fresnillo remains optimistic about the future, stating that the ramp-up of Juanicipio is progressing as planned. They expect to achieve full nameplate capacity in the coming quarter.
In addition to silver and gold, lead production also saw a rise from 13,368 tons to 13,994 metric tons. Similarly, zinc production increased from 24,118 tons to 25,670 tons.
Looking ahead, Fresnillo reaffirmed its full-year expectations for silver and gold production. They anticipate attributable silver production (including silverstream) to be in the range of 57.0 million to 64.0 million ounces. As for gold, they expect production to fall within the range of 590,000 to 640,000 ounces.