London Stock Exchange welcomes Fresnillo to celebrate 10 year listing anniversary
Fresnillo plc, the world’s largest silver producer and Mexico's largest gold producer, today opened the Markets of the London Stock Exchange to celebrate 10 years as a London-listed company. 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, Fresnillo joined the FTSE 100 index, and has remained a constituent of that index ever since.
Over the last decade, Fresnillo has invested over US$6 billion to sustain and expand its operations, develop new projects, from three mines in 2008 to seven today, undertake strategic acquisitions and increase silver equivalent resources by 158%. The Company set out clear objectives in 2008 and achieved its IPO target for gold production of 750koz three years ahead of plan, whilst remaining on track to deliver its 10-year silver production of 65moz in 2018.
Throughout this time, Fresnillo has remained committed to acting responsibly. Since 2008, the Company has seen a 149% increase in the number of employees to 4,817, and invested over $120 million in Health & Safety initiatives for its workforce.
It has also returned US$2.5 billion in dividends to shareholders, while its 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."