Fresnillo PLC - London-based precious metals group operating in Mexico - says reform to Mexico’s federal mining law will have no material impact on current operations or advance exploration projects. Says company has all necessary concessions in place to permit ongoing operations. No significant adverse impact expected for deposit of tailings or industrial residues. Says parts of law may require additional clarification from regulator, and will continue engaging with relevant stakeholders to ensure all legal requirements are met. Fresnillo will continue to review any potential aspects of the new law which may merit legal analysis.
Company says: ‘Fresnillo notes that the new legislation places greater emphasis on environmental and social obligations. Consistent with its purpose to contribute to the wellbeing of people through the sustainable mining of silver and gold, Fresnillo will continue to comply with environmental and social best practices and obligations in the places where it operates.’
Current stock price: 729.80 pence
12-month change: down 5.0%
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