The main clients of Industrias Peñoles, one of Mexico‘s largest mining companies, are Bank of Montreal, Coins and Things and Stonex Financial LTD.
Also noteworthy are Trafigura Group, HSBC BANK USA, Mitsubishi International Corp, Sumitomo Corporation, Ternium and Johnson Controls Enterprises Mexico.
Industrias Peñoles reported a 7.5% drop in 2022 net sales, to US$5.523 billion, and a 60.8% decline in operating income, to US$380 million.
In 2022, the company’s metal sales were to 306 customers and chemical sales to 198 customers. It is not dependent on any customer.
Grupo Peñoles trades only with reputable and solvent counterparties. It is company policy that all customers wishing to purchase on credit will be subject to credit verification procedures, which include an evaluation of credit rating, short-term liquidity and financial situation.
Where appropriate, sufficient collateral is obtained from customers to mitigate the risk of financial loss from non-payment.
In addition, balances receivable are monitored on an ongoing basis, which means that exposure to expected losses is not significant.
Industrias Peñoles
The company has an Exploration Division dedicated to the location, acquisition, study, analysis and development of economic deposits of non-ferrous metallic minerals in order to increase the company’s own assets.
This division has offices in Mexico located in the following states: State of Mexico, Sonora, Chihuahua, Coahuila and Zacatecas.
It also has prospects and projects in several Latin American countries, including Chile and Peru.
The Mining Business focuses its activities on the exploitation and processing of ores with metallic content of gold, silver, lead, zinc and copper, to produce lead, zinc and copper concentrates and copper cathodes.
Through its 75% shareholding in Fresnillo plc, Peñoles participates in the production of gold, silver and other metals contained in the concentrates, dorés and precipitates produced by the mines of this subsidiary.
The Metals Business operates mainly in Torreón, Coahuila, through Metalúrgica Met-Mex Peñoles, one of the most important non-ferrous metallurgical complexes in the world in terms of production value.
