Last checked at 20 May 2009 07:00
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: +44(0)20 7399 2470
Mexico City Office
Gabriela Mayor Tel: +52555 279 3203
JPMorgan Cazenove Tel: +44 (0)20 7588 2828
Andrew Wray
Brunswick Tel: +44(0)20 7404 5959
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.