Fresnillo plc: Update following change in outlook to negative
Our credit view of this issuer reflects its stable production profile and its benefits from the relationship with PeA+-oles, offset by its high cost structure.Fresnillo is a holding company, engaged in the mining and beneficiation of non-ferrous minerals, and the sale of related production. At Dec 31 2016, Co. had six reportable operating segments: the Fresnillo mine, an underground silver mine; the Saucito mine, an underground silver mine; the CiA(c)nega mine, an underground gold mine; including the San RamA3n satellite mine; the Herradura mine, a surface gold mine; the Soledad-Dipolos mine, a surface gold mine; and the Noche Buena mine, a surface gold mine. In addition, Co. has two development projects, which comprised of: Pyrites Plant, a Leaching plant; and San Julian (phase II), an underground mine, flotation plant and a dynamic leaching plant.
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