(Reuters) – Precious metals miner Fresnillo Plc <FRES.L> said on Wednesday annual silver and gold production would be at the lower end of an already reduced target range, after reporting a fall in output for the third quarter due to lower ore grades.
Fresnillo’s silver production slumped 14.5% to 13,283 kilo ounces (koz) for the three months ended Sept. 30, while gold production fell nearly 7% to 209.8 koz.
The FTSE 100-listed miner now expects annual output at the lower end of 55-58 million ounces of silver and 880-910 koz of gold.
Fresnillo had slashed the forecasts in July from prior targets of 58-61 million ounces and 910-930 koz.
(Reporting by Shanima A and Muvija M in Bengaluru; Editing by Arun Koyyur)