Business
4Q25 Production Report
Fresnillo plc reported its fourth quarter production for the period ending December 31, 2025, with full-year attributable silver production at 48.7 million ounces, in line with guidance but down 13.5% from the previous year, while gold production of 600.3 thousand ounces exceeded guidance, though it decreased 5.0% year-over-year. Quarterly silver production saw a 5.9% increase compared to the third quarter, driven by higher ore grades at Fresnillo and Saucito, but was down 8.0% year-over-year due to various factors including the cessation of mining at San Julián DOB and the end of the Silverstream contribution. Quarterly gold production decreased 10.6% from the prior quarter and 33.7% year-over-year, primarily due to lower ore grades and processed volumes at Herradura and other mines. The company also provided updated 2026 production guidance, with silver expected between 42 to 46.5 million ounces and gold between 500 to 550 thousand ounces. Disclaimer*
About this update from Fresnillo Plc
[{"type":"text","content":"\n\n \n Fresnillo plc\n21 Upper Brook Street\nLondon W1K 7PY\nUnited Kingdom\nwww.fresnilloplc.com\n \n28 January 2026\n \n \n \nFOURTH QUARTER PRODUCTION REPORT\nFOR THE THREE MONTHS ENDED 31 DECEMBER 2025\n \nOctavio Alvídrez, Chief Executive Officer, said:\n \n\"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.\"\n \n \n \nHIGHLIGHTS\n \nSilver\n \n· Quarterly attributable silver production of 12.2 moz, increased 5.9% vs. 3Q25 mainly due to the higher ore grades at Fresnillo, Saucito and San Julián Veins.\n \n· Quarterly attributable silver production decreased 8.0% vs. 4Q24, mainly due to: i) a lower ore grade, decrease in volume of ore processed, and lower recovery rate at Ciénega, Saucito and San Julián Veins; ii) the cessation of mining activities at San Julián DOB; and iii) the end of the contribution from the Silverstream in 4Q25.\n \n· Full year attributable silver production of 48.7 moz in line wi...