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Fresnillo parent Penoles declares force majeure at MetMex refinery

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Fresnillo PLC said its Mexican parent company Penoles last Friday declared force majeure at its MetMex precious metals refinery due to a strike over pay, but Fresnillo does not expect a material adverse economic impact.

Force majeure was declared regarding precious metals dore and precipitates produced at the Herradura and Cienega mines as well as on the lead concentrates from the Cienega and Fresnillo mines.  Fresnillo will switch to alternative arrangements that it has begun to put in place with other smelters and refineries.

Zinc concentrates continue to be received and processed by MetMex as the zinc circuit is separate from the lead/precious metals circuit and is unaffected by the strike, the company said.

Quick facts: Fresnillo Plc

Price: 785.8 GBX

LSE:FRES
Market: LSE
Market Cap: £5.8 billion
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