Fresnillo PLC production, the world's largest silver miner, plummeted 15 per cent from a year earlier

SMM4, 16 March: production of Fresnillo PLC, the world's largest silver producer, fell 15 per cent to 13.1 million ounces in the first quarter of this year from a year earlier, compared with 15.4 million ounces in the first quarter of 2018, according to a report on the foreign network. The reason is that the ore grade of its Fresnillo silver mine has declined, resulting in a reduction in the number of ores.

The company's San Julian silver mine also fell 615000 ounces (17 per cent), while its Saucito silver mine also fell 500000 ounces (10 per cent).

So all of the company's silver production is falling across the board.

Similarly, production at another major silver producer has fallen sharply. Endeavour Silver production also fell a staggering 21 per cent to 1.07 million ounces in the first quarter of 2019, compared with 1.35 million ounces in the same period last year.

Although Fresnillo PLC plans to increase silver production in the coming years, it remains to be seen how Mexico will become an oil importer for the first time in 50 years, which will affect the country's mining industry for the foreseeable future.

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