Type Public company Industry Mining Revenue 1.444 billion USD (2015) Net income 69.4 million USD (2015) | Traded as LSE: FRES Products Precious metals Headquarters Mexico City, Mexico Parent organization Peñoles | |
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Founded 2008; 9 years ago (2008) Key people Alberto Baillères (Chairman of the board), Octavio Alvídrez (CEO) Stock price FRES (LON) 1,499.00 GBX -11.00 (-0.73%)17 Mar, 3:07 PM GMT - Disclaimer | ||
Fresnillo plc is a Mexican-based precious metals mining company incorporated in the United Kingdom and headquartered in Mexico City. Fresnillo is the world's largest producer of silver from ore (primary silver) and Mexico's second-largest gold miner. The first Mexican firm to have its primary listing on the LSE, Fresnillo is a constituent of the FTSE 100 Index.
Contents
History
Formerly a wholly owned operating division of Industrias Peñoles, a minority stake in the company was spun off on the London Stock Exchange in a May 2008 IPO, with a secondary listing on the Mexican Stock Exchange on the same day.
On 15 August 2012, Octavio Alvídrez took over as chief executive from Jaime Lomelín, following a handover period.
Operations
The company operates three gold and silver mines in Mexico: the largest in terms of silver output is located near the city of Fresnillo in Zacatecas, with the other mines at Cienega in Durango and Herradura in Sonora. In 2007 Fresnillo produced 34.3 million ounces of silver and 279,614 ounces of gold, as well as around 20 tons each of zinc and lead as by products from the three mines. Industrias Peñoles retained the rights to its primary base metals mines when Fresnillo was spun off. The company also has 21 active exploration projects located across the country, and has signalled plans to use the money raised in its IPO to expand into Peru and Chile.