Fresnillo Expands Strategic Footprint with Probe Gold Acquisition - Mexico Business News

AI desk brief

Fresnillo said it will acquire Probe Gold, expanding its precious-metals portfolio while reinforcing its gold growth pipeline in Mexico and Canada. The company also reported H1 revenue up 74.7% year on year to US$3.4bn and gross profit up 130.7% to US$2.4bn, supported by favorable metal prices and cost discipline.

Operationally, management highlighted higher gold output at Fresnillo and Ciénega, outperformance at Juanicipio, and ongoing capex at Saucito and other assets aimed at lowering unit costs. The key risks remain labor tightness, cost inflation in energy/materials/services, and regulatory/tax uncertainty in Mexico; nevertheless, Fresnillo says it is advancing a sizable pipeline including Rodeo, Guanajuato, Tajitos, Orisyvo and Novador.