Mexican President Andrés Manuel López Obrador’s authorities has been criticized by the mining business for its coverage of no new concessions, in addition to what have been described as unprecedented regulatory delays.
Earlier this month, the leftist chief additional fed business worries by proposing a constitutional reform that may limit future lithium mining, along with inserting comparable limits on different “strategic minerals” wanted for Mexico’s power transition.
The information got here as the corporate reported a 4.7% fall in third-quarter silver manufacturing, which totalled 12.7 million ounces in opposition to 13.3 million ounces it churned out in the identical quarter of 2020.
In comparison with second-quarter figures, Fresnillo stated the drop in manufacturing hit 15%, primarily pushed by anticipated decrease grades at the San Julián undertaking, in addition to decrease volumes of ore processed at Fresnillo and Saucito.
The corporate saved silver manufacturing steering for 2021 within the 53.5 million ounces to 59.5 million ounces vary.
Fresnillo additionally stated that it’s monitoring additional potential headwinds, equivalent to inflationary pressures and the common revaluation of the Mexican peso versus the US greenback, which could have an effect on prices.