Industrias Peñoles
    Quick access
    Headquarters
    Mexico
    Stock Exchange Listings
    BVM: PE&OLES
    Workforce
    Employees: 13,635 (31/12/2018)
    Contract workers: 6,914 (31/12/2018)
    Total: 20,549 (31/12/2018)
    Geographic Footprint
    Producing countries: 1
    Known tax jurisdictions: 2
    Revenues (in BUSD)
    Total Revenue: 4.386 (31/12/2018)
    Net Income: 0.431 (31/12/2018)
    State Ownership
    No State ownership
    2017 Fatalities
    Total worker fatalities: 4
    • Employees: Not reported
    • Contract workers: Not reported
    Others: Not reported
    2018 Fatalities
    Total worker fatalities: 8
    • Employees: Not reported
    • Contract workers: Not reported
    Others: Not reported
    Home countries, where the company is headquartered
    Producing countries, where the company has mining operations
    Mine sites selected for mine-site-level assessment

    Summary of Results


    Absolute results remain low overall and Industrias Peñoles’ results are largely dependent on its formal commitments to prevent bribery and corruption and ensure safe and healthy working conditions. In addition, Industrias Peñoles shows relatively strong evidence relating to its support for STEM education and technical and vocational skills development for local populations, as well as managerial and leadership skills development for its local workforces. Furthermore, the company shows evidence of actions to support local entrepreneurship and local business development in communities around its operations.

    Industrias Peñoles ranks 30th among the 38 companies on its mine-site-level results, with an average score of only 2% in the mine-site assessment.

    In the company-wide assessment, Industrias Peñoles’ overall results are below the average across all 38 companies in five of the six thematic areas: Economic Development, Business Conduct, Lifecycle Management, Community Wellbeing and Environmental Responsibility. The company’s results are limited by a lack of evidence of actions on some key issues, such as ensuring its operations plan for the management of post-closure transition for workers and affected communities, and tracking and reviewing its performance on reducing adverse impacts on water quality.

    Industrias Peñoles is associated with a leading practice on disclosure of data on its Scope 3 greenhouse gas emissions.

    Human rights remains a weak area in the company’s results. While Industrias Peñoles has made a (somewhat limited) commitment to respect human rights, it still shows no evidence of conducting human rights due diligence processes, or of tracking and reviewing its performance on managing human rights issues. Furthermore, the company shows no evidence of systematically assessing and addressing the risks of human rights abuses related to its security management.

    Moreover, the overall results of the five Industrias Peñoles mine sites included in the mine-site assessment are strikingly weak. Aside from some limited evidence on these mine sites’ disclosures regarding water withdrawals, none of these mine sites show any relevant evidence on the other nine issues covered in the mine-site assessment: local employment, local procurement, post-closure planning, community grievances, worker grievances, air quality, water quality, tailings management and emergency preparedness.

    Overall results

    Economic Development

    0.93 / 6.002020
    0.50 / 6.002018

    Business Conduct

    1.23 / 6.002020
    1.61 / 6.002018

    Lifecycle Management

    0.28 / 6.002020
    0.32 / 6.002018

    Community Wellbeing

    0.39 / 6.002020
    0.29 / 6.002018

    Working Conditions

    1.88 / 6.002020
    1.74 / 6.002018

    Environmental Responsibility

    0.81 / 6.002020
    0.50 / 6.002018

    Average Mine-Site Score

    1.7%2020
    2020
    0.93
    score / 6
    2018
    0.50
    score / 6

    Economic Development

    2020
    1.23
    score / 6
    2018
    1.61
    score / 6

    Business Conduct

    2020
    0.28
    score / 6
    2018
    0.32
    score / 6

    Lifecycle Management

    2020
    0.39
    score / 6
    2018
    0.29
    score / 6

    Community Wellbeing

    2020
    1.88
    score / 6
    2018
    1.74
    score / 6

    Working Conditions

    2020
    0.81
    score / 6
    2018
    0.50
    score / 6

    Environmental Responsibility

    2020
    1.7
    %

    Average Mine-Site Score

    Compare with 2018 results

    Results per measurement area

    Commitment

    (9 indicators)

    Action

    (42 indicators)

    Effectiveness

    (20 indicators)

    Results per indicator

    Economic Development

    Mine-site Results

    Mine sites selected for individual assessment (but not included in the overall company score)
    BismarkMaderoMilpillasSabinasVelardeña
    Local Employment
    (score /3)    		0.00.00.00.00.0
    Local Procurement
    (score /3)    		0.00.00.00.00.0
    Post-Closure Plans
    (score /3)    		0.00.00.00.00.0
    Community Grievances
    (score /3)    		0.00.00.00.00.0
    Worker Grievances
    (score /3)    		0.00.00.00.00.0
    Air Quality
    (score /3)    		0.00.00.00.00.0
    Water Quality
    (score /3)    		0.00.00.00.00.0
    Water Quantity
    (score /3)    		0.50.50.50.50.5
    Tailings Management
    (score /3)    		0.00.00.00.00.0
    Emergency Preparedness
    (score /3)    		0.00.00.00.00.0
    Mine-site Score
    (%)    		1.71.71.71.71.7

    Operational mine sites

    Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
    Bismark-Mexico100Copper, Zinc, Lead, SilverUnderground
    CiénegaLa CiénegaMexico75Gold, SilverUnderground
    Fresnillo-Mexico75Zinc, Lead, Gold, SilverUnderground
    Herradura-Mexico75GoldOpen-pit
    MaderoFrancisco I. MaderoMexico100Copper, Zinc, Lead, SilverUnderground
    MilpillasLa ParreñaMexico100CopperOpen-pit
    Noche Buena-Mexico75GoldOpen-pit
    Sabinas-Mexico100Copper, Zinc, Lead, SilverUnderground
    San Julián-Mexico75Gold, SilverOpen-pit
    Saucito-Mexico75SilverUnderground
    Tizapa-Mexico51Zinc, Lead, SilverUnderground
    VelardeñaRobleMexico100Copper, Zinc, Lead, Gold, SilverUnderground

    Closed mine sites (known)
    (controlled assets under care & maintenance, closure or post-closure management)

    Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
    La Minita-Mexico100Zinc, LeadOpen-pit1995
    NaicaMapleMexico100Zinc, Lead, SilverUnderground2015
    Soledad-Dipolos-Mexico75GoldOpen-pit2014
    ZimapánEl MonteMexico100Zinc, SilverOpen-pit2014

    Tailings (known)

    NameCountryStatusConstruction MethodImpact-based hazard category (company-reported)
    Ciénega TSF - Deposit IMexicoActiveDownstreamNone
    Ciénega TSF - Deposit IIMexicoInactiveDownstreamNone
    Ciénega TSF - Deposit IIIMexicoIn constructionDownstreamNone
    Fresnillo TSF - AntiguoMexicoClosedUpstreamLow
    Fresnillo TSF - BeleñaMexicoInactiveUpstreamLow
    Fresnillo TSF - ChinosMexicoInactiveUpstreamLow
    Fresnillo TSF - EmergenciaMexicoInactiveUpstreamLow
    Fresnillo TSF - San LuisMexicoActiveUpstreamLow
    Fresnillo TSF - SanjónMexicoClosedUpstreamLow
    Fresnillo TSF - Sección II.MexicoClosedUpstreamLow
    Herradura TSFMexicoActiveDownstreamLow
    Las Torres TSF - Cedros IMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Las Torres TSF - Cedros IIMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Las Torres TSF - Cedros IIIMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Las Torres TSF - Cedros IVMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Las Torres TSF - Coronelas IMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Las Torres TSF - Coronelas IIMexicoInactiveUpstreamHigh. There is a town that could be affected in case of an incident.
    Minera Mexicana de Sombrerete, unidad Tocayos TSFMexicoInactiveUpstreamLow
    San Julián TSFMexicoActiveDownstreamCatastrophic
    Saucito TSFMexicoActiveUpstreamLow

    Shareholders (known)

    As of: 31/10/2019Shares (%)
    Baillères Family35.36%
    Albacor, S.A. de C.V.33.46%
    First Eagle Investment Management, L.L.C.2.74%
    Van Eck Associates Corporation2.02%
    BlackRock Institutional Trust Company, N.A.1.58%
    The Vanguard Group, Inc.1.12%
    BlackRock Investment Management (UK) Ltd.1.06%
    Norges Bank Investment Management (NBIM)0.82%
    Dimensional Fund Advisors, L.P.0.59%
    Mirae Asset Global Investments (USA) LLC0.46%
    Caisse de Depot et Placement du Quebec0.32%
    BlackRock Advisors (UK) Limited0.16%
    BlackRock Mexico Operadora SA de CV SOFI0.12%
    PGGM Vermogensbeheer B.V.0.10%
    T. Rowe Price Associates, Inc.0.10%

    Beneficial Owners (known)

    As of: 31/12/2018Shares (%)
    Alberto Baillères G<1%

    Subsidiaries (known)

    As of: 31/12/2018Country
    Bal Holdings, Inc.USA
    Comercializadora de Metales FresnilloNot Reported
    Compañía Minera La Parreña, S.A. de C.V.Mexico
    Compañía Minera Sabinas, S.A. de C.V.Mexico
    Eólica de CoahuilaNot Reported
    Exploraciones Mineras ParreñaNot Reported
    Exploraciones Mineras PeñolesNot Reported
    FertireyNot Reported
    Fresnillo plcNot Reported
    Fuerza Eólica del Istmo, S.A. de C.V.Mexico
    Fuerza Eólica, S.A. de C.V.Mexico
    Infraestructura PeñolesNot Reported
    Línea Coahuila-DurangoNot Reported
    Metalúrgica Met-Mex Peñoles, S.A. de C.V.Mexico
    Minas Peñoles, S.A. de C.V.Mexico

    Tax Jurisdictions (known)

    Mexico

    USA

    Investor / State Disputes
    (since 2014)

    No case

    Copyright notice

    All data and written content are licensed under the Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0).

    Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0)

    The licensed material may not be used for commercial purposes, or in a discriminating, degrading or distorting way. When cited, attribute to: “Responsible Mining Foundation (RMF), RMI Report 2020.” Images, photographs, and video content depicted on RMF websites are excluded from this license, except where noted.

    Disclaimer

    The findings, conclusions and interpretations within this RMI Report 2020 do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation (RMF), and others who participated in consultations and as advisors to the report.

    This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the RMI Report 2020, the respective sections on the website should be consulted.

    The RMI Report 2020 seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI Report 2020 has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.

    It should be noted that, prior to publication, all companies in the RMI were invited to check the factual accuracy of the contextual data and evidence upon which the RMI is based and to review company information in the RMI document library.

    Country borders or names on maps do not reflect an official position of the RMF or anyone involved in its governance, employees or in service providers. Maps used are for illustrative purposes and do not imply the expression of any opinion on the part of the RMF, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Where needed, approaches used by the UN to present borders were followed.

    Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2020 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.