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Fresnillo Plc cuts gold output guidance by 8.4 pct on explosives ban-Reuters

Monday, 9 Dec 2013 07:00pm EST 

Fresnillo Plc:It lowered its gold production guidance by 8.4 percent on, after a ban on the use of explosives at a mining site continued, impacting its output-Reuters.The company earlier in Oct. delayed forecasting how much gold it would produce this year until it had clarity over the ban.It said gold production for the year to the end of Dec. would be about 425,900 ounces, 8.4 percent lower than its previous guidance.Silver production guidance for 2013 of 41 million ounces remains unchanged.Mexico's Ministry of Defence, which is responsible for granting explosive permits, is analysing a relevant court document and that the company expects a response shortly. 

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