Business
Peñoles declares force majeur
Peñoles declares force majeur.
About this update from Fresnillo Plc
[{"type":"text","content":"\n RNS Number : 8749O Fresnillo PLC 16 March 2009 \n \n\nFresnillo Plc\n28 Grosvenor Street\nLondon W1K 4QR\nUnited Kingdom\nwww.fresnilloplc.com\n\n16 March 2009\n\n\nPeñoles' Lead/Precious Metals Refinery declares force majeure\nLimited impact on Fresnillo plc\n\n\nFresnillo plc, the world's largest primary silver producer and Mexico's second largest gold producer, has been advised by Peñoles that it has declared force majeure at the Met-Mex metallurgical complex with respect to the precious metals doré and precipitates produced at the Herradura and Ciénega mines as well as on the lead concentrates from the Ciénega and Fresnillo mines. \n\nOn 10 February 2009 we informed the market that Peñoles had advised us of a limited strike and that the stoppage had no impact at that point on Fresnillo's operations. As a result of the declaration of force majeure we will switch to alternative arrangements that we have begun to put in place with other smelters and refineries. This will include the doré and precipitates produced at the Herradura and Ciénega mines as well as the lead concentrates from the Ciénega and Fresnillo mines. \n\nThe Company does not expect a material adverse economic impact. Zinc concentrates continue to be received and processed by Met-Mex as the zinc circuit is separate from the lead/precious metals circuit and is unaffected by the strike.\n\nPeñoles has confirmed that it continues to make every effort to resolve the current situation. Fresnillo plc will continue to monitor the situation closely and will provide further information as soon as it is available.\n\nFor further information please visit www.fresnilloplc.com or contact:\n\nFresnillo plc\nLondon Office\nOctavio Alvidrez, Head of Investor Relations Tel: +44(0)20 7399 2470\n\nMexico City Office\nGabriela Mayor &...