- Fresnillo
- 19 May 2026 08:08:24
Source: Sharecast
At the miner's annual general meeting on Tuesday, chair Alejandro Baillères told shareholders that 2025 was "one of the most rewarding periods in Fresnillo's history", fuelled by a significant increase in profits as a result of cost reductions and rising precious metal prices.
Strong cash generation also helped the company to acquire Canada's Probe Gold Inc, which completed in January, making its entry into a "Tier 1 mining-friendly jurisdiction and add[ing] a significant resource base to our portfolio", Baillères said.
Meanwhile in Mexico, the appointment of a government led by president Claudia Sheinbaum represented a "positive shift in the political climate", he said. "We have appreciated the receptive dialogue with the new administration, which provides us with cautious confidence regarding the future business environment and the certainty of mining concessions," the chair added.
Looking ahead, while geopolitical instability remains a concern, Baillères said he was encouraged by the more business-friendly environment in Mexico and the Fresnillo's expansion into Canada.
He said the longer-term outlook is positive, with at least one of the company's advanced prospects expected to join the development portfolio "in the coming two to three years".
"With demand for silver and gold forecasted to exceed supply, driven by the green energy transition and the safe-haven status of gold, Fresnillo is well-positioned to capitalise on the opportunities ahead," Baillères said.
See the latest RNS on Investegate.