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| 1949: Sons of New Mexico - English |
Investment in the right mining companies has been fruitful over last few years. Fresnillo, one of the larger mining companies releases its preliminary figures this morning. Profits before tax up 50%, with revenue increasing from $1,409m to $2,192m. Fresnillo is now the world's largest primary silver producer and Mexico's second largest gold producer. The production of silver actually fell (marginally by 0.6%) whereas production of gold increased by 21.6%.
Fresnillo is a FTSE listed company and as a result anyone with a UK index tracking fund will hold some stock in the company. If you would like to see the preliminary results click here.
Whilst many of us will remember the Wild West movies which often seemed to revolve around gold from Mexico, today in 2012 the West is still getting gold from Mexico, albeit not at the point of a gun or stolen. Mind you, some might consider the current price of gold to be something akin to daylight robbery.
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