Fresnillo Revenue Surges 74.7% on Higher Silver and Gold Prices

Mexico-focused precious metals miner Fresnillo reported a significant increase in revenue for the six months ended June 30, driven by higher silver and gold prices. The company's interim revenue rose 74.7% year-over-year to $3.38 billion, with the average realized silver price increasing by 134.4% to $78.90/oz and the average realized gold price rising by 47.3% to $4,666.80/oz.

The increase in revenues was partly offset by a decrease in gold and silver ounces sold, resulting in an 11.4% year-over-year decline in attributable silver production. Attributable gold production also decreased by 7.3% due to lower ore grades at Herradura. However, the company's adjusted production costs increased by 20.5%, primarily due to a revaluation of the Mexican peso against the dollar and cost inflation.

Fresnillo CEO Octavio Alvídrez stated that the company delivered an exceptional financial performance in the first half of 2026, with earnings before interest, taxes, depreciation, and amortization (Ebitda) increasing by 113.2%. The company's profit for the period also rose by 213% to $1.46 billion.