Silver miner Fresnillo to cut 2015 capital expenditure budget
Aug 4 (Reuters) - Fresnillo Plc, a miner of silver and gold, said it would cut its planned 2015 capital expenditure to $570 million, hurt by volatility in metal prices.
Fresnillo, which operates six mines in Mexico, said it would defer about $130 million of its previously planned $700-million expenditure to 2016. The miner's profit fell 44.3 percent to $76.4 million for the six months to June 30.
Gold prices are at a 5-1/2 year low, pressured by expectations that the U.S. Federal Reserve is well on course to raise interest rates this year. (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anupama Dwivedi)
© Thomson Reuters 2016 All rights reserved.