Anniversary Listing

London Stock Exchange welcomes Fresnillo to celebrate 10 year listing

Fresnillo celebrates its 10 year listing anniversary on the London Stock Exchange on 31 May 2018. As the first Mexican company to list in London, the IPO represented a pioneering step by an ambitious business pursuing a strategy of sustainable long-term growth. On its admission to the Main Market of the London Stock Exchange, Fresnillo joined the FTSE 100 index, and has remained a constituent of that Index ever since.

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31 May 2018 the Company ("Fresnillo") celebrates 10 years as a London listed business.

Fresnillo's listing on the London Stock Exchange (LSE) was a significant milestone in the development of the business following its spin out from the parent company Peñoles Group. Fresnillo has remained committed to its stated strategy of enhancing efficiencies at exisiting operations whilst still exploring new opportunities. During its time on the LSE, Fresnillo has achieved considerable financial and operational progress, meeting the objectives set out at the time of the IPO.

Since the IPO, Fresnillo has invested over US$6 Billion to sustain and expand its operations, develop new projects, from three mines in 2008 to seven (as of its anniversary date), undertake strategic acquisitions and increase silver equivalent resources by 158%, firmly establishing itself as the world's leading producer of silver and Mexico's largest gold producer. The Company achieved its IPO target for gold production of 750koz three years ahead of plan (up from 264koz in FY 2008) and remaining on track to deliver its 10 year silver production of 65moz in 2018 (up from 37.8 moz in FY 2008).

Octavio Alvidrez, CEO, signing the welcome book, as Fresnillo, the world’s largest silver producer and Mexico’s largest gold producer, opened the Markets of the London Stock Exchange to celebrate 10 years as a London-listed company. 

Fresnillo has fully remained committed to acting responsibly; its people are core to its success. Since 2008, Fresnillo has seen a 149% increase in the number of employees to 4,817; investing over US$120 million in Health & Safety initiatives for its workforce and distributed over US$280 million in profit sharing to employees since 2008, additionally contributing US$2.3bn in taxation to the Mexican economy. Throughout the volatility of the resources cycle, Fresnillo has also continued to prioritise returns to its investors; returning US$2.5 billion in dividends to shareholders and having never failed to pay an interim and final dividend since listing. The Company's share price has grown from 555p to 1,338p, outperforming the FTSE 100 market by over 118%.

Alberto Baillères, Chairman of Fresnillo said:

"We can look back on our first 10 years as a London listed business with real pride. I would like to thank all our employees for their huge efforts, as well as our shareholders for their continued long-term support. We have remained faithful to our stated strategy, investing in our business, growing production and delivering returns to our shareholders in what has been a very volatile time for the wider mining sector."

"We are also proud to represent Mexico on the London Stock Exchange; to have been the first Mexican company and one of the first Latin American companies to seek a London listing. Our presence in London has been integral to our ability to support our growth over the years and we look forward to this continuing into the future."

"We face the coming years confident in our strategy and with renewed commitment to delivering on our potential. Our strategic focus of enhancing existing assets, while seeking new opportunities remains unchanged and we look forward to the next 10 years with great excitement and enthusiasm."