logo
Plus   Neg
Share
Email

Fresnillo Sees FY19 More Challenging Than FY18; Says Confident In Long-term View

Mining company Fresnillo plc (FRES.L), in its Annual General Meeting Statement on Tuesday, said that it expects 2019 to be a more challenging year than 2018.

Internal conditions in the long-term remain sound, and the company maintains confidence in Mexico. The company said it will keep investing in the projects under exploration.

Regarding 2018, the company said the year was more challenging for the firm. It recorded strong silver and gold production, but were disappointed not to meet long-term silver target of 65 Moz. Despite a more challenging operating performance, the company maintained a very strong financial position.

Further, the company said it remains very confident in the long-term outlook, based on its track record and proven consistent conservative strategy.

During the 10 years of being listed in the London Stock Exchange, the company said it recorded an 80% increase in silver production and a 230% increase in attributable gold production. The company has also paid over $2.8 billion in dividends.

The Board has recommended a final dividend of 16.7 US cents per Ordinary Share, bringing the total amount paid for the year to $201.9 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple Inc. is taking necessary precautions including Covid-19 testing for those employees returning to work at its headquarters in Silicon Valley, Bloomberg reported citing people familiar with the process. The company, which opened its main Apple Park office in May bringing back some hardware and software engineers, plans the gradual reopening of the building keeping the coronavirus safeguards. A U.S. appeals court has blocked the sales of Bayer AG's dicamba-based Xtendimax in the United States. The three-judge panel in the U.S. Court of Appeals for the Ninth Circuit ruled that the US Environmental Protection Agency (EPA) overstated the protections and substantially understated or ignored the risks related to the use of dicamba-based herbicides. Tesla Chief Executive Officer Elon Musk has called for a breakup of Amazon after the online retail giant refused to publish an upcoming book about COVID-19. Writer Alex Berenson said on Twitter that Amazon refused to publish his booklet about the coronavirus as it did not comply with the company's guidelines. Berenson is a former New York Times reporter.
RELATED NEWS
Follow RTT