Fresnillo FY gold and silver production declines
By Iain Gilbert
Date: Wednesday 28 Jan 2026
(Sharecast News) - Precious metals miner Fresnillo said on Wednesday that both gold and silver output had fallen in the twelve months ended 31 December.
Fresnillo posted said full‑year attributable silver output had come in at 48.7m ounces, in line with guidance but 13.5% lower than a year earlier, while gold production totalled 600,300 ounces, ahead of guidance but down 5% year‑on‑year.
Quarterly silver production rose 5.9% from the third quarter, helped by higher grades at Fresnillo and Saucito, though output was still 8% lower than in the same period of 2024 following the end of mining at San Julián DOB and the conclusion of the Silverstream contribution.
Gold production, on the other hand, fell 10.6% quarter‑on‑quarter and 33.7% year‑on‑year, reflecting lower grades and reduced processed volumes at Herradura and other operations.
Looking forward, the FTSE 100-listed firm also provided guidance for 2026, forecasting attributable silver production of 42m-46.5m ounces and gold output of 500,000-550,000 ounces.
Chief executive Octavio Alvídrez said: "I am pleased to report another year of solid operational performance, with gold production exceeding the upper end of our full-year guidance range and silver production delivered in line with guidance.
"These results demonstrate the resilience of our asset base and the consistent execution of our operations throughout the year. As we look ahead, we remain focused on our priorities of safety, operational discipline and efficiency to maximise value in a supportive metals price environment."
As of 0810 GMT, Fresnillo shares were up 0.82% at 4,174p.
Reporting by Iain Gilbert at Sharecast.com
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