Fresnillo shares down as it adjusts tax management

FTSE 100 miner Fresnillo (LON:FRES) has seen its share price drop by 1.70% to 855.40p (as of 15:30 BST) after it adjusted its handling of its Mexican tax affairs. The handling of mining income under the law is unclear, but the company has reached an agreement with the authorities that it believes it should backdate for all mining income in the country to 2014.

This has a slight negative impact on the profit & loss statement that will be partly offset by decreases in depreciation in the coming years.