Negotiations with Union at Ci

RNS Number : 5348S

Fresnillo PLC

20 May 2009

 



Fresnillo Plc

28 Grosvenor Street

London W1K 4QR

United Kingdom

www.fresnilloplc.com

20 May 2009

Fresnillo plc successfully concludes negotiations with Union at Ciénega

Fresnillo plc, the world's largest primary silver producer and Mexico's second largest gold producer, is pleased to announce that it has successfully concluded the 2009 annual wage negotiations with the section of Mexico's Mining and Metal Workers Union at the Ciénega mine.  The Union and the Company have agreed to the same conditions as with the Herradura and Fresnillo mine workers. Fresnillo has now concluded all wage negotiations with the Unions at all its mines for the year 2009. 

For further information please visit www.fresnilloplc.com or contact:

Fresnillo plc

London Office

Octavio Alvidrez, Head of Investor Relations            Tel: [phone]

Mexico City Office

Gabriela Mayor                                                           Tel: [phone]

JPMorgan Cazenove                                               Tel: [phone]

Andrew Wray

Brunswick                                                                  Tel: [phone]

Patrick Handley

Carole Cable

About Fresnillo plc

Fresnillo Plc is the world's largest primary silver producer and Mexico's second largest gold producer, listed on the London Stock Exchange under the symbol FRES.  

Fresnillo has three producing mines, all of them in Mexico - Fresnillo, Ciénega and Herradura; two advanced development projects - Saucito, Soledad & Dipolos; and three exploration prospects - San Juan, San Julian, Orysivo, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.75 million hectares in Mexico.

Fresnillo has a strong and long tradition of mining, a proven track record of mining development and reserves replacement, and a low cost of production, being in the lowest quartile of the cost curve for both silver and gold.

Fresnillo intends to maintain its position as the world's largest primary silver producer with the aim of approximately doubling production, on a silver equivalent ounce basis by 2018 and increasing its gold production.

 

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