Author's Note: This article is an excerpt of one published for Industrial Minefinder™ subscribers after another article making a firm case for $17 per oz. silver in the current market environment. Please keep this in mind as you consider the tone of the analysis.
Introduction
Fresnillo (FRES.L, FNLPF) is the world's largest silver producer and Mexico's largest gold producer. The following excerpt from the Silver Institute's 2019 World Silver Survey shows that Fresnillo operates 3 of the top 5 silver mines in the world by production:
Source: 2019 World Silver Survey
The reserves at