March 3, 2020 / 7:40 AM / a month ago

Fresnillo annual profit plunges 63% on weak output, mine curtailment

March 3(Reuters) - Precious metals miner Fresnillo on Tuesday posted a 63% slump in 2019 pretax profit, as low-grade ore hit production and it curtailed operations at its Noche Buena mine in Mexico.

Mexico’s largest gold producer said its profit before income tax for the year ended Dec. 31 fell to $178.8 million from $483.9 million a year earlier. (Reporting by Shanima A in Bengaluru; Editing by Sriraj Kalluvila)

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