Fresnillo investment increasing 71% this year
Mining Company Fresnillo plc., a subsidiary of Industrias Peñoles, will invest roughly US$950 million in 2017, that is 71% more than their 2016 records. Alberto Bailleres, President of Industrias Peñoles, commented that US$800 million will be used to expand their mines currently in operation, whereas the remainder will be used for exploration and new projects. Fresnillo plc has set the objective of becoming the main silver extracting firm in the world, with the lowest costs and the most exhaustive project portfolio. The firm has estimated a 2017 gold production ranging between 870,000 and 900,000 ounces.