Fresnillo is the last of the big spenders in Mexico's precious metals space, with major investments planned in new projects and exploration.

The Mexico City-based miner is eyeing projects with combined capex of US$1.5bn by 2022, including two new mines, plus expansions and optimizations of existing assets.

The figure is more than half the total US$2.76bn investment planned in precious metals projects in the country over the period, according to BNamericas calculations.

The company has also earmarked US$200mn for exploration in 2018, up from US$141mn spent last year, focused on its properties in Mexico and Peru.

Capex is forecast at US$755mn, an increase from US$605mn in 2017. The 2018 figure includes US$222mn in projects.

As well as being a dominant force in Mexico's project pipeline, Fresnillo, which is controlled by Mexico City-based Industrias Peñoles, has cemented its position as the country's top gold and silver producer, as well as being a significant zinc and lead miner.


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