Mexico has been mining for centuries and this informative note seeks to answer the question: what metals does Industrias Peñoles produce?
Peñoles’ production is ranked as follows:
- The largest global producer of refined silver.
- Latin American leader in the production of refined gold and lead.
- The company is among the world’s leading producers of refined zinc and sodium sulfate.
What metals does Industrias Peñoles produce?
This company is a mining group with integrated operations for the smelting and refining of non-ferrous metals and the production of chemical products.
In 2024, Industrias Peñoles’ invoiced sales, excluding hedging results, grew at an annual rate of 12.2%, to US$6.65 billion.
Why did this increase occur? Mainly due to higher gold and silver prices, as well as higher volumes sold of zinc, lead, silver and concentrates, which offset lower gold volumes and lower realization prices for zinc and lead.
Industrias Peñoles reported net income of US$228 million in 2024, a decrease of 27.5 percent.
Integrated production
- Industrias Peñoles groups subsidiaries engaged in the following activities:
- Exploration.
- Extraction.
- Beneficiation.
- Sale of concentrates and minerals.
- Smelting and refining of precious and industrial metals.
- Manufacture of inorganic chemical products.
Peñoles is one of Mexico’s leading exporters. Its products reach 32 countries. In 2024, 78.6% of its sales were destined for the international market. Currently , the group operates 19 active plants.
In its beginnings, it was called Compañía Minera de Peñoles. Since the Porfiriato, it has been a key player in the development of mining in Mexico. It was also a pioneer in electrifying its operations, marking an important advance for the industry.