Lower silver prices impact Fresnillo's full-year profits

Profit contracted by 19 per cent to 845m dollars for the year ended December 31st at FTSE 100 gold and silver producer Fresnillo.

Profit contracted by 19 per cent to 845m dollars for the year ended December 31st at FTSE 100 gold and silver producer Fresnillo.

In its financial results for the year, the group said that the impact on profit was mostly due to four things: lower silver price; anticipated lower ore grades at the Fresnillo mine; higher depreciation; and higher exploration expenses.

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