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Fresnillo Soars on Record Profits, Higher Metal Prices
6 Aug
Summary
- Record financial performance achieved in the first half of 2026.
- Higher precious metal prices significantly boosted profitability.
- Company remains on track to meet 2026 production guidance.
Fresnillo announced a record financial performance for the first half of 2026, driven by elevated precious metals prices. Despite lower sales volumes and rising production costs, the company achieved its strongest first-half results since its initial public offering 18 years ago.
Chief Executive Officer Octavio Alvídrez highlighted a strong operating performance and reaffirmed the company's commitment to meeting its 2026 production guidance. Fresnillo has also improved its gold-grade outlook at the Fresnillo mine, with potential for increased gold production in 2027 and 2028.
The significant increase in profitability was primarily fueled by higher market prices. The average realized silver price surged by 126% year-over-year to $76.30 per ounce, while the average realized gold price climbed 47% to $4,647 per ounce. Zinc prices also saw a 27% increase compared to the previous year.
