Business
Fresnillo plc successfully concludes negotiatio...
Fresnillo plc successfully concludes negotiatio....
About this update from Fresnillo Plc
[{"type":"text","content":"\n \n\n\n\n Fresnillo\nPlc\n28 Grosvenor Street\nLondon W1K 4QR\nUnited Kingdom\nwww.fresnilloplc.com\n\n 25 March 2009\n\n\n Fresnillo plc successfully concludes negotiations with Union at\n Herradura\n\n\nFresnillo plc, the world's largest primary silver producer and\nMexico's second largest gold producer, is pleased to announce that it\nhas successfully concluded the 2009 annual wage negotiations with the\nsection of Mexico's Mining and Metal Workers Union at the Herradura\nmine. The Union and the Company have agreed on a package that\nincludes a 6% wage increase, a 1% fringe benefits increase and a one\npayment as a bonus of 1% of salary. Negotiations with each of the\nsections of the Union at the Fresnillo and the Ciénega mines will\ncommence over the coming weeks as these are negotiated separately.\n\nThe successful outcome demonstrates the good relationship between the\nUnion at the Herradura mine and Fresnillo plc.\n\nFor further information please visit www.fresnilloplc.com or contact:\n\nFresnillo plc\nLondon Office\nOctavio Alvidrez, Head of Investor\nRelations Tel: +44(0)20 7399 2470\n\nMexico City Office\nGabriela\nMayor\nTel: +52555 279 3203\n\nJPMorgan\nCazenove Tel:\n+44 (0)20 7588 2828\nAndrew Wray\n\nBrunswick\nTel: +44(0)20 7404 5959\nPatrick Handley\nCarole Cable\n\nAbout Fresnillo plc\n\nFresnillo Plc is the world's largest primary silver producer and\nMexico's second largest gold producer, listed on the London Stock\nExchange under the symbol FRES.\n\nFresnillo has three producing mines, all of them in Mexico -\nFresnillo, Ciénega and Herradura; two advanced development projects -\nSaucito, Soledad & Dipolos; and three exploration prospects - San\nJuan, San Julian, Orysivo, as well as a number of other long term\nexploration prospects and, in total, has mining concessions covering\napproximately 1.75 million hectares in Mexico.\n\nFresnillo has a strong and long tradition of mining, a proven track\nrecord of mining development and reserves replacement, and a low cost\nof production, being in the lowest quartile of the cost curve for\nboth silver and gold.\n\nFresnillo intends to maintain its position as the world's largest\nprimary silver producer with the aim of approximately doubling\nproduction, on a silver equivalent ounce basis by 2018 and increasing\nits gold production.\n\n---END OF MESSAGE---\n\...