Industrias Peñoles is a Mexican mining group involved in the extraction, smelting and refining of non-ferrous metals, as well as the production of chemicals. The group is divided into six units: mining (silver, gold, copper, zinc, tungsten, lead); exploration; metals; chemicals; technology and innovation; and energy. Peñoles' mining activities are conducted through its 77% owned subsidiary Fresnillo. Its operations include nine underground mines, two open pit mines, and two refineries, one of zinc and another of lead, located in the state of Coahuila. Peñoles is the world's largest producer of refined silver and metallic bismuth. It is also a major producer of refined zinc and sodium sulfate, and a leading regional producer of refined gold and silver. Peñoles is owned by local business conglomerate Grupo Bal. The company was founded in 1887 and is based in Mexico City.
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