LONDON Oct 15 Mexican miner Fresnillo,
the world's largest primary silver producer, posted a 2.6
percent rise in silver production in the third quarter compared
to the same period in 2011, and said it was on track to meet its
Fresnillo posted silver production of 10.3 million ounces in
the three months to Sept. 30, and said it was on course for
total output of 41 million ounces for the year as a whole.
The company, which is also Mexico's second-largest gold
miner, said quarterly gold production rose 5.9 percent compared
to the same period last year, to 126,841 ounces, and giving it
confidence in meeting its 2012 target of 460,000 ounces.
In July, Fresnillo said that chief executive Jaime Lomelin
was retiring at 77 and would be replaced by Octavio Alvidrez,
who joined from Penoles, the Mexican mining company
which controls Fresnillo.
Shares in Fresnillo, which have risen by 38 percent in the
last three months, closed at 1,940 pence on Friday, valuing the
firm at 14 billion pounds ($22.5 billion).