Fresnillo 3Q Silver Output 9.7 Million Ounces, +9.3% On Year

   By Jeffrey Sparshott 
   Of DOW JONES NEWSWIRES 
 

LONDON -(Dow Jones)- Mexican precious metals miner Fresnillo PLC (FRES.LN) Wednesday reported a 9.3% increase in attributable silver production during its third quarter and said it was confident that rising output and metal prices would contribute to "a good outcome for 2009 as a whole."

London-listed Fresnillo, the world's biggest primary silver producer, reported 9.75 million troy ounces of silver production for the three months to Sept. 30, compared with 8.92 million ounces during the same period a year earlier.

Gold output increased 4.5% to 63,610 ounces from 60,859 ounces, the company said.

The miner said it's on track to hit its full-year production target of 40.1 million ounces of silver and 265,000 ounces of gold.

Fresnillo is majority-owned by Mexico's Industrias Penoles (PE&OLES.MX), which spun off its precious metals holdings in a May 2008 initial public offering.

Fresnillo's shares closed Tuesday at 838 pence, up more than three-fold from 230 pence at the start of the year.

 
  Company Web site: www.www.fresnilloplc.com 
 

-By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com

(END) Dow Jones Newswires

October 14, 2009 02:31 ET (06:31 GMT)

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