Fresnillo PLC (LSE:FRES) booked adjusted revenues of US$1.35bn in the first half of 2022, down 12.6% on the corresponding period a year earlier.
The fall was due largely to a 27.6% fall in gold production, although lower silver prices were also to blame.
Profit was down 54.3% to US$141mln.
Basic and diluted earnings per share from continuing operations rang in at US$15.9 cents, down 61.2%.
Free cash flow was US$93.5mln, and cash on the balance sheet amounted to US$1.15bn.
The dividend is US$0.034 per share.
“We are on track to complete the staffing process at Fresnillo and San Julián by the end of 3Q22, and at Ciénega and Saucito by year end, despite a tight labour market,” said Fresnillo’s chief executive Octavio Alvídrez.
“The global supply chain bottlenecks that so many industries are facing, together with cost inflation will have some impact in the second half. However, we are confident in our ability to weather these short term challenges, without limiting our ambitious longer term growth plans. We look forward to achieving connection to the electricity grid at Juanicipio in the coming weeks, and rapidly ramping up production, while also continuing to develop the Rodeo and Orisyvo mining projects.”