the mexican miner fresnillo on Wednesday raised its annual outlook for gold production, supported by better performance at its Herradura mine and higher volumes at its Noche Buena mine in the country.
The group said it expects to post attributable gold production in the range of 590,000 to 640,000 ounces for the year.
Executive Director, Octavio AlvidrezHe said the group’s mines, which faced labor shortages last year due to reforms in Mexico that restricted hiring subcontractors, are now “well-staffed” for next year.
Our recruitment and training campaigns have concluded and the mines have the necessary personnel by 2023,” Alvídrez said in a statement.
London-listed Fresnillo, which operates seven mines in Mexico, has seen its production affected by supply chain issues due to the Covid-19 lockdowns in China and higher input and operating costs following Russia’s invasion of Ukraine. .
The miner said its 2022 attributable gold production was down 15% to 635,900 ounces due to lower ore grades and a drop in volume of ore processed.
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