Fresnillo plc

Fresnillo plc is an Anglo-Mexican 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.[2] The first Mexican firm to have its primary listing on the LSE, Fresnillo is a constituent of the FTSE 100 Index.

Fresnillo plc
TypePublic limited company
LSE: FRES
FTSE 100 Component
IndustryMining
Founded2008 (2008)
HeadquartersLondon, UK (corporate), Mexico City, Mexico (operational)
Key people
ProductsPrecious metals
RevenueUS$2,119.6 million (2019)[1]
US$171.7 million (2019)[1]
US$205.8 million (2019)[1]
ParentIndustrias Peñoles
Websitewww.fresnilloplc.com

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.[3]

On 15 August 2012, Octavio Alvídrez took over as chief executive from Jaime Lomelín, following a handover period.[4]

Operations

The company operates three gold and silver mines in Mexico (Industrias Peñoles retained the rights to its primary base metals mines when Fresnillo was spun off).[5] The largest mine, in terms of silver output, is Mina Proaño (also known as Fresnillo Mine), located near the city of Fresnillo in the state of Zacatecas; the other mines are at Cienega, in Durango, and Herradura, in Sonora. In 2007, Fresnillo plc produced 34.3 million ounces of silver and 279,614 ounces of gold from its three active mines, as well as around 20 tons each of zinc and lead as by-products.[5]

The company also has 21 active exploration projects located across the country.[5] It signalled plans to use the money raised in its IPO to expand into Peru and Chile.[6]

References
  1. "Preliminary Results 2019" (PDF). Fresnillo. Retrieved 3 March 2020.
  2. "Mexico's Industrias Penoles to spin off Fresnillo in London IPO". Forbes. AFX News. 11 April 2008. Archived from the original on 22 June 2011. Retrieved 21 September 2008.
  3. "Fresnillo IPO to raise US$900 million". Metals Place. 14 April 2008. Archived from the original on 12 July 2012. Retrieved 24 March 2012.
  4. "Fresnillo CEO Jaime Lomelín Retires – Quick Facts". RTT News. 26 June 2012. Retrieved 28 November 2012.
  5. "Production volumes: annual". Fresnillo. Retrieved 21 September 2008.
  6. Bream, Rebecca (9 May 2008). "Fresnillo suffers 6% fall during London debut". Financial Times. Archived from the original on 29 September 2011. Retrieved 21 September 2008.
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