Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Fresnillo Juanicipio mill commissioning delayed by six months

Wed, 29th Dec 2021 07:13

(Sharecast News) - Mill commissioning at Fresnillo's Juanicipio joint venture in Mexico has been delayed by six months after the state electricity company said it could not give the go-ahead for connection to the national power grid due to the Covid-19 pandemic.
The silver and gold project is operated with MAG Silver Corp. Mexico's Comisión Federal de Electricidad said staff shortages meant it could not review the existing installation; supervise physical connection to the active power grid; and approve required blackout prevention devices.

Stoping and mineralized mine development at Juanicipio will continue. Fresnillo said it would make available any unused plant capacity at its Minera Fresnillo and Minera Saucito operations to process mineralized material produced at Juanicipio during this period, and match commissioning and ramp up tonnages that were previously expected "if possible".

"As an industry, we continue to manage the ongoing impact of the pandemic and while frustrating for all concerned, we recognize this situation is beyond the control of all parties," said Fresnillo chief executive Octavio Alvidrez.

Related Shares

More News
27 Jun 2024 09:49

LONDON BROKER RATINGS: Berenberg cuts Anglo American and Rio Tinto

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

11 Jun 2024 09:12

LONDON MARKET OPEN: FTSE 100 up; UK unemployment rises to 4.4%

(Alliance News) - Stock prices in London opened higher on Tuesday, after a difficult day for markets on Monday amid the EU election fallout.

7 Jun 2024 12:05

LONDON MARKET MIDDAY: Europe on the back foot as US jobs report looms

(Alliance News) - Stocks in London retreated on Friday ahead of the US jobs report, leaving the FTSE 100 on track for a fourth consecutive weekly loss...

29 May 2024 10:44

JP Morgan sees lower political risk in Mexico for Fresnillo, stays 'overweight'

(Sharecast News) - Analysts at JP Morgan sounded a confident note on the outlook for precious metals miner Fresnillo ahead of the next presidential el...

29 May 2024 09:30

LONDON BROKER RATINGS: Berenberg cuts Mobico; RBC raises Fresnillo

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.