Fresnillo lowers gold guidance, silver forecast unchanged

Mexico’s largest gold producer Fresnillo has lowered its 2020 guidance for gold, citing Covid-related work restrictions at its openpit mines, but the company kept its silver production outlook unchanged.

The London-listed miner explained on Wednesday that it had to reduce the number of mine operators at Herradura, owing to Covid-19 preventative measures to protect the vulnerable personnel and lower-than-expected ore grades at the Dynamic Leaching plant, together with restricted access to deeper areas at the Noche Bueana mine.

Silver mines, however, were performing in line with the forecast set at the beginning of the year.