Fresnillo Reaffirms 2026 Production Guidance Amid Output Declines - Mexico Business News

AI desk brief

Fresnillo’s Q3 silver and gold production fell sharply year on year, but management still reaffirmed full-year 2026 guidance. Attributable silver output dropped 11.6% YoY to 10.3m oz and gold fell 10.7% YoY to 135,053 oz, with lower ore grades, maintenance at key Mexican assets, and the end of Silverstream contributions weighing on volumes.

Mine-specific pressures were most visible at Juanicipio, where attributable silver output fell 25.8% YoY as grades declined from 426 g/t to 330 g/t, and at Herradura, where gold output slipped 18.1% QoQ amid preventive maintenance ahead of a ball mill shell replacement in Q4. Fresnillo said operations remain on track for 2026 guidance of 42.0-46.5m oz silver and 500,000-550,000 oz gold; the supply hit is modestly supportive for silver and gold prices near term.