About Industrias Peñoles, S.A.B. de C.V.
Industrias Peñoles, S.A. de C.V. and Subsidiaries, one of Mexico's major industrial groups since its foundation in 1887, focuses on the utilization of non-renewable natural resources. Initially dedicated to the exploration, mining, smelting, refining and marketing of non-ferrous metallic minerals, the Company today also develops and commercializes inorganic chemicals and refractories. As of December 31, 2002, the company’s proven and probable reserves consisted of 3,981000 ounces of gold, 419,638900 ounces of silver, 954600 metric tons of lead, and 3,180500 metric tons of zinc. The company also produces and markets sodium sulfate, magnesium oxide, magnesium sulfate, ammonium sulfate, and dolomitic refractories. Besides, its infrastructure operations include Termimar, an international maritime terminal; Coahuila-Durango, a railway line; TECSA, a municipal water management business in Mexico City; and Termoelectrica Penoles, an electric generating plant. Exploration, Engineering and Construction Division The Exploration, Engineering and Construction Division locates and analyzes non-ferrous metallic deposits on the American continent, in order to develop projects that will increase the Group's actual reserves. This division also has responsibility for the development, engineering and construction projects of the Company's operational divisions. Mining Division The Mining Division extracts and processes metallic minerals such as gold, silver, lead, zinc and copper to produce lead, zinc and copper concentrates, gold-silver precipitates and dore. This division operates the world's richest underground silver mine (Fresnillo), and Mexico's richest underground gold mine (La Ciénega), largest open-pit gold mine (La Herradura), and largest underground zinc mine (Francisco I. Madero). Metals Division The Metals Division, incorporated as Met-Mex Peñoles, is the largest non-ferrous metallurgical complex in Latin America and fourth world wide. It includes a lead smelter, a gold-silver-lead refinery, an electrolytic zinc plant and sulfuric acid, cadmium, bismuth, ammonium sulfate, antimonium trioxide and liquid sulfur dioxide plants. Industrial Chemicals and Refractory Division The Industrial Chemicals and Refractory Division produces and markets sodium sulfate, magnesium oxide, magnesium sulfate, ammonium sulfate (fertilizer) and dolomitic refractories. This division manages Química del Rey, the world's largest sodium sulfate plant. Infrastructure Division The Infrastructure Division identifies and manages projects that secure the supply and control the cost of Peñoles' logistics and energy requirement. Operations include an international maritime terminal for the handling of bulk chemical cargo shipments (Termimar), a railway line for the transportation of raw materials and finished products (Coahuila-Durango), a municipal water management business in Mexico City (TECSA), and the development of an electric generating plant that will supply the Group's operational requirements (Termoeléctrica Peñoles).