Fresnillo
Plc
28 Grosvenor Street
London W1K 4QR
United Kingdom
www.fresnilloplc.com
25 March 2009
Fresnillo plc successfully concludes negotiations with Union at
Herradura
Fresnillo plc, the world's largest primary silver producer and
Mexico's second largest gold producer, is pleased to announce that it
has successfully concluded the 2009 annual wage negotiations with the
section of Mexico's Mining and Metal Workers Union at the Herradura
mine. The Union and the Company have agreed on a package that
includes a 6% wage increase, a 1% fringe benefits increase and a one
payment as a bonus of 1% of salary. Negotiations with each of the
sections of the Union at the Fresnillo and the Ciénega mines will
commence over the coming weeks as these are negotiated separately.
The successful outcome demonstrates the good relationship between the
Union at the Herradura mine and Fresnillo plc.
For further information please visit www.fresnilloplc.com or contact:
Fresnillo plc
London Office
Octavio Alvidrez, Head of Investor
Relations Tel: +44(0)20 7399 2470
Mexico City Office
Gabriela
Mayor
Tel: +52555 279 3203
JPMorgan
Cazenove Tel:
+44 (0)20 7588 2828
Andrew Wray
Brunswick
Tel: +44(0)20 7404 5959
Patrick Handley
Carole Cable
About Fresnillo plc
Fresnillo Plc is the world's largest primary silver producer and
Mexico's second largest gold producer, listed on the London Stock
Exchange under the symbol FRES.
Fresnillo has three producing mines, all of them in Mexico -
Fresnillo, Ciénega and Herradura; two advanced development projects -
Saucito, Soledad & Dipolos; and three exploration prospects - San
Juan, San Julian, Orysivo, as well as a number of other long term
exploration prospects and, in total, has mining concessions covering
approximately 1.75 million hectares in Mexico.
Fresnillo has a strong and long tradition of mining, a proven track
record of mining development and reserves replacement, and a low cost
of production, being in the lowest quartile of the cost curve for
both silver and gold.
Fresnillo intends to maintain its position as the world's largest
primary silver producer with the aim of approximately doubling
production, on a silver equivalent ounce basis by 2018 and increasing
its gold production.
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