REG - Fresnillo Plc - Board Changes <Origin Href="QuoteRef">FRES.L</Origin>

FresnilloAnnouncement

22/02/2018 11:50

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RNS Number : 6688F
Fresnillo PLC
22 February 2018 
 
Fresnillo plc 
 
21 Upper Brook Street 
 
London W1K 7PY 
 
United Kingdom 
 
www.fresnilloplc.com 
 
22 February 2018 
 
Fresnillo plc - Board Changes 
 
Fresnillo plc (the "Company") announces that the Nominations Committee has
recommended to the board of directors of the Company ("the Board"), and the
Board has agreed, that Ms Georgina Kessel be proposed for election as an
independent non-executive director of the Company at the 2018 annual general
meeting, which is due to be held on 30 May 2018 (the "AGM"), with her
appointment to take effect from the conclusion of the AGM. 
 
Ms Kessel worked in the Mexican government where she served as Secretary of
State in the Ministry of Energy from 2006 to 2011. She also chaired the
Governing Board of the Federal Electricity Commission and has been president
and a member of the Board Directors of Petróleos Mexicanos (PEMEX). She is
currently an independent director of Scotiabank, Iderdrola and is a partner in
Spectron. 
 
Mr Guy Wilson has advised the Board that he will stand down from the Board at
the AGM, having served as an independent non-executive director for nine
years. 
 
The Board has, therefore, also approved a recommendation from the Nominations
Committee that Mr Alberto Tiburcio be appointed as Chairman of the Audit
Committee and Mr Charles Jacobs be appointed as a member to the Audit
Committee both with effect from the date of the AGM. In addition, the Board
has approved a recommendation from the Nominations Committee that Dame Judith
Macgregor be appointed as an additional member of the Health, Safety,
Environment and Community Relations Committee with effect from the date of the
AGM. 
 
The Board has further approved the appointment of Mr Alejandro Baillères as
Deputy Chairman of the Company with immediate effect. 
 
Fresnillo plc Chairman Alberto Baillères said: "I should like to take this
opportunity to thank Mr Wilson for his outstanding contribution to the Board
and the Audit Committee during the past nine years. His significant efforts in
overseeing the sound financial and internal controls environment of the
Company since the IPO will be greatly missed. I am delighted that Ms Kessel
has agreed to join the Board. Her significant political experience and
knowledge of the energy sector will greatly support the Company and the Board.
I look forward to welcoming her to the Board following the 2018 AGM". 
 
For further information, please visit our website 
 
www.fresnilloplc.com or contact: 
 
 Fresnillo plc            London Office                                   Gabriela Mayor, Head of Investor RelationsPatrick Chambers  Tel: +44 (0)20 7399 2470  
 Mexico City Office Ana Belem Zárate                                                                                                  Tel: +52 55 52 79 3206    
 Powerscourt Peter Ogden                                                                                                              Tel: +44 (0)20 7250 1446  
 
 
About Fresnillo plc 
 
Fresnillo plc is the world's largest primary silver producer and Mexico's
largest gold producer, listed on the London and Mexican Stock Exchanges under
the symbol FRES. 
 
Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo,
Saucito, Ciénega (including the San Ramón satellite mine), Herradura,
Soledad-Dipolos1, Noche Buena and San Julián (phase I and II), two development
projects - the Pyrites Plant, and second line of DLP at Herradura, and four
advanced exploration projects - Orisyvo, Juanicipio, Las Casas Rosario &
Cluster Cebollitas and Centauro Deep, as well as a number of other long term
exploration prospects. In total, Fresnillo plc has mining concessions covering
approximately 1.8 million hectares in Mexico. 
 
Fresnillo plc has a strong and long tradition of mining, a proven track record
of mine development, reserve replacement, and production costs in the lowest
quartile of the cost curve for silver. 
 
Fresnillo plc's goal is to maintain the Group's position as the world's
largest primary silver company, producing 65 million ounces of silver per year
by 2018, having already surpassed the gold target of 750,000 ounces. 
 
Forward Looking Statements 
 
Information contained in this announcement may include 'forward-looking
statements'. All statements other than statements of historical facts included
herein, including, without limitation, those regarding the Fresnillo Group's
intentions, beliefs or current expectations concerning, amongst other things,
the Fresnillo Group's results of operations, financial position, liquidity,
prospects, growth, strategies and the silver and gold industries are
forward-looking statements. Such forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances.
Forward-looking statements are not guarantees of future performance and the
actual results of the Fresnillo Group's operations, financial position and
liquidity, and the development of the markets and the industry in which the
Fresnillo Group operates, may differ materially from those described in, or
suggested by, the forward-looking statements contained in this document. In
addition, even if the results of operations, financial position and liquidity,
and the development of the markets and the industry in which the Fresnillo
Group operates are consistent with the forward-looking statements contained in
this document, those results or developments may not be indicative of results
or developments in subsequent periods. A number of factors could cause results
and developments to differ materially from those expressed or implied by the
forward-looking statements including, without limitation, general economic and
business conditions, industry trends, competition, commodity prices, changes
in regulation, currency fluctuations (including the US dollar and Mexican Peso
exchanges rates), the Fresnillo Group's ability to recover its reserves or
develop new reserves, including its ability to convert its resources into
reserves and its mineral potential into resources or reserves, changes in its
business strategy and political and economic uncertainty. 
 
1 Operations at Soledad-Dipolos are currently suspended. 
 
LEI: 549300JXWH1UV5J0XV81 
 
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