Fresnillo Plc
28 Grosvenor Street
London W1K 4QR
United Kingdom
www.fresnilloplc.com
20 May 2009
Peñoles' Lead/Precious Metals Refinery lifts force majeure
Fresnillo plc, the world's largest primary silver producer and
Mexico's second largest gold producer, has been advised by Peñoles
that it has lifted the 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.
On 16 March 2009 we informed the market
that Peñoles had advised us of a declaration of force majeure on the
aforementioned Fresnillo's products. We can confirm that there was
no material financial impact from the force majeure period as all of
the products were sold elsewhere on terms comparable to those agreed
with Met-Mex.
For further information please visit www.fresnilloplc.com or contact:
Fresnillo plc
London Office
Octavio Alvidrez, Head of Investor Tel: +44(0)20 7399 2470
Relations
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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