Fresnillo PLC approves San Julian mining project

The Board of Directors of Fresnillo PLC, the largest mining of primary silver in the world, announced the approval of the mining project called San Julian, located in Guadalupe y Calvo, Chihuahua.

The mining project will have a total investment of 500 million dollars and will boost the Mexican mining sector in a considerable way.

In the exploration phase Fresnillo plc has invested more than 13 million dollars in the placement of more than 8,000 meters of ramps and developments, said the Cámara Minera de México (CAMIMEX) in its annual report of 2012.

The company explained that once it begins operations in San Julian, it allow the mining firm to achieve its yearly goals, both of silver and gold, as that will increase the production of both metals.

According to the mining plan of Fresnillo plc, San Julian, will produce about 65 million ounces of silver and 500,000 of gold per year by 2018, announced the firm.

The largest silver mining estimates that San Julián could start operations during the second half of 2014.

It is important to highlight that Fresnillo plc is controlled by the Mexican Peñoles and its shares are traded on the London Stock Exchange.

(Mexican Business Web)

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