Fresnillo, the silver mining company recently published their Q2 figures to end end of June. Their overall Q2 production of silver increased by 8.8% and by the way, they also increased gold production by 20.6% over the same period in 2010. These are record levels for Fresnillo largely due to the successful start-up of production as the Saucito mine. The company is on track to achieve the full 2011 production targets – anticipating production of 44 million ounces of silver and 400,000 ounces of gold. Fresnillo plans to double production from the new Mexican mine by 2015.
However the news is better-sweet, during the same period Fresnillo “suffered two fatalities of unionised personnel” and contractors at various operations suffered five fatalities. Mining is hazardous. You will recall the 33 miners that became trapped in a mine in Chilli who were working at the San Jose gold and copper mine. Fresnillo are a UK FTSE listed company and about the 42nd largest company listed on the UK stockmarket and representing about 0.6% of the FTSE100. Fresnillo has 4 main mines at Fresnillo, Cienega, Herradura and Saucito.
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