REG - Fresnillo Plc - Completion of acquisition <Origin Href="QuoteRef">FRES.L</Origin>

FresnilloAnnouncement

29/10/2014 09:54

RNS Number : 5908T
Fresnillo PLC
07 October 2014
Fresnillo Plc
28 Grosvenor Street
London W1K 4QR
 United Kingdom
www.fresnilloplc.com
7 October 2014
Fresnillo plc
Completion of acquisition of Newmont Mining's 44% interest in the Penmont Joint Venture
Further to the announcement made by Fresnillo plc (the "Company") on 12 September 2014 relating to the proposed acquisition by the Company of Newmont's 44 per cent. interest in the Penmont JV (the"Transaction"), the Company announces that all conditions precedent to completion of the Transaction have been satisfied or waived and the acquisition completed on 6 October 2014 for a total cash consideration of US$450 million.
London Office  Tel: +44 (0) 20 7399 2470
Gabriela Mayor, Head of Investor Relations
Floriana Michalowska
Mexico City Office   Tel: +52 55 52 79 3206
Ana Belem Zrate
Bell PottingerTel: +44 (0) 203 772 2500
Daniel Thle
Marianna Bowes
About Fresnillo plc
Fresnillo plc is the world's largest primary silver producer and Mexico's second largestgold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.
Fresnillo has six operating mines, all of them in Mexico - Fresnillo, Saucito, Cinega (including the San Ramn satellite mine), Herradura, Soledad-Dipolos1 and Noche Buena; two development projects - Saucito II and San Julin; and four advanced exploration prospects - Centauro Deep, Juanicipio, Orisyvo and Las Casas Rosario as well as a number of other long term exploration prospects. In total, Fresnillo plc has mining concessions covering approximately 2.1 million hectares in Mexico.
Fresnillo 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 both silver and gold.
Fresnillo's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver and 750,000 ounces of gold by 2018.
1 Operations at Soledad and Dipolos are currently suspended.

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The company news service from the London Stock Exchange
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