BMV: PENOLES.MX
Headquarters:
Mexico
Sector:
Base metals
Government Ownership:
No State Ownership
Pre-tax Revenues (in BUSD):
4.332 (31/12/2016)
Number of employees:
11,691 (31/12/2016)
Number of workers
(employees + contract workers):
not reported
Company-reported mining worker fatalities:
  • 2015 |
    Workers: 2
  • 2016 |
    Workers: 4
Home countries, where the company is headquartered
Producing countries, where the company has mining operations
Mine sites selected for mine-site-level assessment

Summary Results

Industrias Peñoles’s strongest performances relate to the formal commitments it has made on business ethics, anti-bribery and corruption, and occupational health and safety. The company also shows evidence of taking measures to implement these commitments. In addition, Industrias Peñoles tracks, to some degree, its performance on implementing its commitments on anti-bribery and corruption and occupational health and safety.

Industrias Peñoles’s overall results are limited by a lack of evidence of systematic attention to Economic Development and Lifecycle Management. For example, no evidence was found of the company designing and planning its operations to manage post-closure transition for workers or affected communities. Industrias Peñoles also shows no evidence of addressing human rights issues. No evidence was found of the company having made a commitment to respect human rights, nor of it having conducted human rights due diligence assessments.

Economic Development

0.093 / 1.000

Business Conduct

0.378 / 1.000

Lifecycle Management

0.070 / 1.000

Community Wellbeing

0.077 / 1.000

Working Conditions

0.466 / 1.000

Environmental Responsibility

0.107 / 1.000

The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.

All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.

Relative company performance

Commitment (11 indicators)

Action (41 indicators)

Effectiveness (21 indicators)

1.000 = aggregation of best scores for all indicators of this measurement area.

Indicator-by-indicator results

Economic Development

Selected Mine sites results

Mine sites individually assessed but not included
in the overall company score

Mine Site NameLocal Procurement (score /6.00)Local Employment (score /6.00)Community grievance mechanism (score /6.00)Workers grievance mechanism (score /6.00)Water quality and quantity (score /6.00)Biodiversity management (score /6.00)Mine site (score /6.00)
Bismark0000000.00
Madero0000000.00
Milpillas0000000.00
Sabinas0000000.00
Velardeña0000000.00

List of all mine sites

Mine Site NameAliasesCountryCompany's share (%)ProductsMining types
BismarkMexico100Zinc, Lead, Silver, CopperUnderground
CiénegaLa CiénegaMexico75Gold, SilverUnderground
FresnilloMexico75Silver, Lead, Zinc, GoldUnderground
HerraduraMexico75GoldOpen-pit
MaderoFrancisco I. MaderoMexico100Zinc, Silver, LeadUnderground
MilpillasLa ParreñaMexico100CopperOpen-pit
Noche BuenaMexico75GoldOpen-pit
SabinasMexico100Silver, Lead, Zinc, Copper, GoldUnderground
San JuliánMexico75Silver, GoldOpen-pit
SaucitoMexico75SilverUnderground
TizapaMexico51Zinc, Lead, SilverUnderground
VelardeñaRobleMexico100Zinc, Silver, Lead, Copper, GoldUnderground

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

Mine Site NameAliasesCountryCompany's share (%)ProductsMining typesYear of closure
La MinitaMexico100Lead, ZincOpen-pit1995
NaicaMapleMexico100Lead, Silver, ZincUnderground2015
Soledad-DipolosMexico75GoldOpen-pit2014
ZimapánEl MonteMexico100Zinc, SilverOpen-pit2014

Main Shareholders

As of: 09/02/2018Shares (%)
Baillères Family35.36
Albacor, S.A. de C.V.33.46
First Eagle Investment Management, L.L.C.2.83
BlackRock Investment Management (UK) Ltd.1.34
BlackRock Institutional Trust Company, N.A.1.16
The Vanguard Group, Inc.1.09
Dimensional Fund Advisors, L.P.0.45
Impulsora de Fondos Banamex S.A. de C.V.0.29
McKinley Capital Management, LLC0.26
Global X Management Company LLC0.2
BBVA Bancomer Gestión, S.A. de C.V.0.14
Norges Bank Investment Management (NBIM)0.14
OppenheimerFunds, Inc.0.11
Gestión Santander Mexico S.A. de C.V.0.11
PGGM Vermogensbeheer B.V.0.1

Known Subsidiaries

As of: 31/12/2016Country
Bal Holdings, Inc. USA
Compañía Minera La Parreña, S.A. de C.V. Mexico
Compañía Minera Sabinas, S.A. de C.V. Mexico
Fresnillo plcUK
Fuerza Eólica del Istmo, S.A. de C.V. Mexico
Fuerza Eólica, S.A. de C.VMexico
Magnelec, S.A. de C.V. Mexico
Metalúrgica Met-Mex Peñoles, S.A. de C.V. Mexico
Minas Peñoles, S.A. de C.VMexico
Minera Bismark, S.A. de C.V. Mexico
Minera Tizapa, S.A. de C.V. Mexico
Química Magna, S.A. de C.V. Mexico
Servicios Administrativos Peñoles, S.A. de C.V. Mexico
Servicios Especializados Peñoles, S.A. de C.V. Mexico

Known Tax Jurisdictions

MexicoUKUSA

Recent involvements in Investor/State investment disputes (since 2014)

No case

Disclaimer

The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, 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 2018 Responsible Mining Index, the respective sections on the website should be consulted.

The RMI 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 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 Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.

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 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.