Fresnillo's silver production (including Silverstream) rose 10.5% to 16 moz in the three months to the end of December compared to the third quarter of last year.
Quarterly silver production increased 10.5% vs. 3Q17, while 4Q17 silver production of 16.0 moz (including Silverstream) was up 20.3% vs. 4Q16.
The miner said that the upbeat quarterly output was driven by the first complete year of San Julian (phase I) operating at full capacity and the start-up of operations at San Julian (phase II)
Year to date silver production (including Silverstream) rose to 58.7 moz, up 16.6% versus year-to-date 2016.
Quarterly gold production of 232 koz decreased 13.4% versus 4Q16 due to a lower reduction of gold inventories at Herradura. While annual gold production of 911.1 koz exceeded guidance but decreased 2.6% versus 2016 due to the expected lower reduction of gold inventories and the anticipated lower ore grade deposited at the leaching pads at Herradura.
The group said the outlook on silver production was unchanged, expected to be in the range of 67 to 70 moz (including the Silverstream). Gold production expected to be in the range of 870-900 koz.
Chief executive Octavio Alvidrez said: 'I am pleased to report that Fresnillo has delivered a strong performance in 2017.'
'Construction of the Pyrites Plant project continued while further progress was achieved at the Dynamic Leaching Plant at Herradura,' Alvidrez said. 'We expect to commission both projects in 2018 and to see them contribute to our 2018 production.' At 8:03am: (LON:FRES) Fresnillo PLC share price was +4.5p at 1339.5p