TIDMFRES
RNS Number : 7572P
Fresnillo PLC
31 May 2018
Fresnillo plc
21 Upper Brook Street
London W1K 7PY
United Kingdom
www.fresnilloplc.com
31 May 2018
Fresnillo plc
Fresnillo celebrates 10(th) anniversary of listing on the
LSE
Fresnillo has a history stretching back to the year 1910, today
the Company ("Fresnillo") celebrates 10 years as a London listed
business. As the first Mexican company to list in London, the IPO
represented a pioneering step by an ambitious business pursuing a
strategy of sustainable long-term growth. On its admission to the
Main Market of the London Stock Exchange, Fresnillo joined the FTSE
100 index, where it has remained.
Fresnillo's listing on the London Stock Exchange (LSE) was a
significant milestone in the development of the business following
its spin out from parent company Peñoles Group. Fresnillo has
remained committed to its stated strategy of enhancing efficiencies
at existing operations whilst still exploring new opportunities.
During its time on the LSE, Fresnillo has achieved considerable
financial and operational progress, meeting the objectives set out
at the time of the IPO.
Since the IPO, Fresnillo has invested over US$6 billion to
sustain and expand its operations, develop new projects, from three
mines in 2008 to seven today, undertake strategic acquisitions and
increase silver equivalent resources by 158%, firmly establishing
itself as the world's leading producer of silver and Mexico's
largest gold producer. The Company achieved its IPO target for gold
production of 750koz three years ahead of plan (up from 264koz in
FY 2008) and remains on track to deliver its 10 year silver
production of 65moz in 2018 (up from 37.8 moz in FY 2008).
Fresnillo has remained committed to acting responsibly - its
people are core to its success. Since 2008, Fresnillo has seen a
149% increase in the number of employees to 4,817 today. Fresnillo
has invested over US$120 million in Health & Safety initiatives
for its workforce and distributed over US$280 million in profit
sharing to employees since 2008, in addition to having contributed
US$2.3bn in taxation to the Mexican economy.
Finally, throughout the volatility of the resources cycle,
Fresnillo has continued to prioritise returns to its investors. It
has returned US$2.5 billion in dividends to shareholders, having
never failed to pay an interim and final dividend since listing.
The Company's share price has grown from 555p to 1,338p,
outperforming the FTSE 100 market by over 118%.
Alberto Baillères, Chairman of Fresnillo said:
"We can look back on our first 10 years as a London listed
business with real pride. I would like to thank all our employees
for their huge efforts, as well as our shareholders for their
continued long term support.
"We have remained faithful to our stated strategy, investing in
our business, growing production and delivering returns to our
shareholders in what has been a very volatile time for the wider
mining sector.
"We are also proud to represent Mexico on the London Stock
Exchange and to have been one of the first Latin American companies
to seek a London listing. Our presence in London has been integral
to our ability to support our growth over the years and we look
forward to this continuing into the future.
"We face the coming years confident in our strategy and with
renewed commitment to delivering on our potential. Our strategic
focus of enhancing existing assets, while seeking new opportunities
remains unchanged and we look forward to the next 10 years with
great excitement and enthusiasm."
For further information, please visit our website
www.fresnilloplc.com or contact:
Fresnillo plc Tel: +44 (0)20 7399 2470
London Office
Gabriela Mayor, Head of Investor
Relations
Patrick Chambers
Mexico City Office Tel: +52 55 52 79 3206
Ana Belem Zárate
Powerscourt Tel: +44 (0)20 7250 1446
Peter Ogden
About Fresnillo plc
Fresnillo plc is the world's largest primary silver producer and
Mexico's largest gold producer, listed on the London and Mexican
Stock Exchanges under the symbol FRES.
Fresnillo plc has seven operating mines, all of them in Mexico -
Fresnillo, Saucito, Ciénega (including the San Ramón satellite
mine), Herradura, Soledad-Dipolos(1) , Noche Buena and San Julián
(phase I and II), two development projects - the Pyrites plant, and
second line of DLP at Herradura, and four advanced exploration
projects - Orisyvo, Juanicipio, Las Casas Rosario & Cluster
Cebollitas and Centauro Deep, as well as a number of other long
term exploration prospects. In total, Fresnillo plc has mining
concessions covering approximately 1.8 million hectares in
Mexico.
Fresnillo plc has a strong and long tradition of mining, a
proven track record of mine development, reserve replacement, and
production costs in the lowest quartile of the cost curve for
silver.
Fresnillo plc's goal is to maintain the Group's position as the
world's largest primary silver company, producing 65 million ounces
of silver per year by 2018, having already surpassed the gold
target of 750,000 ounces.
(1) Operations at Soledad-Dipolos are currently suspended.
Forward Looking Statements
Information contained in this announcement may include
'forward-looking statements'. All statements other than statements
of historical facts included herein, including, without limitation,
those regarding the Fresnillo Group's intentions, beliefs or
current expectations concerning, amongst other things, the
Fresnillo Group's results of operations, financial position,
liquidity, prospects, growth, strategies and the silver and gold
industries are forward-looking statements. Such forward-looking
statements involve risk and uncertainty because they relate to
future events and circumstances. Forward-looking statements are not
guarantees of future performance and the actual results of the
Fresnillo Group's operations, financial position and liquidity, and
the development of the markets and the industry in which the
Fresnillo Group operates, may differ materially from those
described in, or suggested by, the forward-looking statements
contained in this document. In addition, even if the results of
operations, financial position and liquidity, and the development
of the markets and the industry in which the Fresnillo Group
operates are consistent with the forward-looking statements
contained in this document, those results or developments may not
be indicative of results or developments in subsequent periods. A
number of factors could cause results and developments to differ
materially from those expressed or implied by the forward-looking
statements including, without limitation, general economic and
business conditions, industry trends, competition, commodity
prices, changes in regulation, currency fluctuations (including the
US dollar and Mexican Peso exchanges rates), the Fresnillo Group's
ability to recover its reserves or develop new reserves, including
its ability to convert its resources into reserves and its mineral
potential into resources or reserves, changes in its business
strategy and political and economic uncertainty.
LEI: 549300JXWH1UV5J0XV81
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END
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