
The world's number one silver miner reported record gold production for the first quarter even as silver production numbers declined.
Orex Minerals Inc. (TSX VENTURE:REX) ("Orex") is pleased to announce that it has signed a definitive Association Agreement with Fresnillo Plc (LSE:FRES) ("Fresnillo") to explore and develop as one large project their respective mineral concessions in the Coneto gold-silver mining district in northern Durango State, Mexico.
Fresnillo Plc (FRES.L: Quote), the world's largest primary silver producer, said silver output declined in the first quarter, although gold production rose to a record.
The Mexican precious metals miner (FRES.MX: Quote) said silver production fell 2.2 percent to 10.1 million ounces, including output from the Silverstream agreement, on lower ore grades at the Fresnillo mine.
The combination of increased production, strong cost control and metal prices made 2010 the best year in Fresnillo's history, says CEO Jamie Lomelin.
Mexico's Fresnillo' reports 2010 silver production at 42.1 million oz and gold output 368,995 oz both new records – and expected to rise 5% and 8% respectively this year.
Orezone Gold Corporation (ORE:TSX) is pleased to announce that it has completed the sale of its Sega Gold Project ("Sega") in Burkina Faso to Cluff Gold plc (Cluff) for total consideration of approximately US$26.5M.