Industrias Peñoles (OTCMKTS: IPOAF) is a Mexico‐based mining and metallurgical company specializing in the exploration, extraction and processing of precious and base metals. Its portfolio encompasses silver, gold, lead, zinc and copper, as well as byproducts such as bismuth and sulphuric acid. The company operates integrated mine‐to‐market facilities that include underground and open‐pit mines, concentrators, smelters and refineries, positioning it as one of the world’s leading silver producers and a significant supplier of industrial metals.
Peñoles’s principal operations are located across several states in Mexico, with major metallurgical complexes in Torreón, Hidalgo and Zacatecas. These facilities process both ore from the company’s own mines and third‐party concentrates, enabling a flexible production model. Finished products are sold to a diverse customer base in North America, Europe and Asia, where Peñoles holds long‐term supply agreements with metal fabricators, electronics manufacturers and specialty chemical producers.
The company traces its origins to the founding of its first mining operation in 1887. Over the decades, Peñoles has grown through targeted exploration programs, the development of new deposits and strategic investments in smelting and refining technologies. It maintains a focus on sustainability, incorporating water‐management systems, energy‐efficiency initiatives and responsible waste handling across its operations.
Industrias Peñoles operates as a core subsidiary of Grupo BAL, the privately held Mexican conglomerate controlled by the Baillères family. Under this ownership structure, Peñoles benefits from stable capital support and a long‐term strategic vision that emphasizes technological innovation, operational excellence and expansion into new mineral resources.
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