Fresnillo Plc (FRES.LN) Tuesday reported a 52% rise in first-half pretax profit, driven by the successful ramp-up of the San Julian mine since it started production in the second half of 2016 and operational improvements made at the Fresnillo mine.
The Mexican-based precious metals mining company added that the turnaround plan at the Fresnillo mine continues to progress, with ore processed increasing for the fourth consecutive quarter.
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For the half year ended June 30 Fresnillo made a pretax profit of $387.4 million, compared with $255.1 million a year earlier, on revenue that rose to $1.07 billion from $959.4 million.
The board reiterated that it is on track to achieve its 2017 production guidance of 58 million to 61 million ounces of silver and 870,000 to 900,000 ounces of gold.
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(END) Dow Jones Newswires
August 01, 2017 02:59 ET (06:59 GMT)