Fresnillo Will Invest $800 Million Dollars In Medium-termo Growth in Mexico

Fresnillo will invest 800 million dollars in medium-term growth
02/03/2011 16:24
Fresnillo, a major mining companies in Mexico, plans to invest about $ 800 million in projects this year as organic growth is presented in mergers and acquisitions, said the company's general director, Jaime Lomelin.

Fresnillo said, plans to invest $ 550 million in capital expenditures this year, up 62% compared with 340 million from 2010.

The executive also approved an increase of 151.1% in its exploration budget, which amounts to $ 251 million, compared to 100 million from 2010.
The intent of this amount is to open at least a new mine every year until 2014, which would leave the way to meeting its goal of producing 65 million ounces of silver a year, more than 400,000 ounces of gold per year by 2018. (Common Sense)
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