Fresnillo profit triples on gold, silver prices rally
Surging precious metals prices lifted earnings despite lower production, allowing Fresnillo to raise its dividend and fund growth.
Fresnillo, a Mexico-based precious metals mining company, reported a nearly tripling of its first-half profit as higher gold and silver prices offset lower production. Revenue increased by 74.7% to $3.38 billion, leading to a higher interim dividend of $0.43 per share. CEO Octavio Alvídrez stated that Fresnillo's financial position allowed it to fund the acquisition of Probe Gold, completed in January, and continue capital spending and exploration.
The company's outlook for 2026 anticipates silver production between 42 million and 46.5 million ounces and gold production between 500,000 and 550,000 ounces.
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