Our History

Fresnillo plc made its debut on the London Stock Exchange in 2008 following a successful, profitable and decades-long track record as a mining company. Due to history as part of the Peñoles Group, the Fresnillo Group can trace its origins back to the commencement of Peñoles' mining operations in 1887 and smelting and refining operations at Torreon in 1901. 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 the same day.


Our flagship Fresnillo silver mine has been in near continuous operation for almost 500 years and is still the world's largest primary silver mine.

  • 2020

    • Tomás Iturriaga appointed as Chief Operating Officer

    • Fresnillo regrets to announce the death of Mr Luis Robles, independent non-executive director

    • Guillermo Gastélum appointed as Vice President of Exploration
  • 2019

    • Board approval for the Juanicipio project

    • Successfully commissioned new US$22.7m state-of-the-art tunnel boring machine (TBM) at Fresnillo
  • 2018

    • First stage of Pyrites Plant commissioned

    • Second line of Dynamic Leaching Plant commissioned
  • 2017

    • San Julián Phase II commissioned

  • 2016

    • San Julián Phase I commissioned in the third quarter, contributing to record annual production

  • 2015

    • Surpassed long-term 2018 gold target

    • Saucito II ramped-up ahead of schedule

  • 2014

    • Commissioning of Saucito II

    • Acquired remaining 44% stake in Penmont JV

    • Start-up of Dynamic Leaching Plant on time and budget

    • Bárbara Garza Lagüera, Jaime Serra Puche and Charles Jacobs joined the Board

  • 2013

    • Dynamic Leaching Plant construction completion

    • Appointment of Roberto Díaz as Chief Operating Officer

  • 2012

    • Noche Buena production commenced

    • San Julián construction commenced

    • Appointment of Octavio Alvidrez as Chief Executive Officer

  • 2011

    • Saucito commercial production begins

    • Soledad-Dipolos production capacity increases 

  • 2010

    • Soledad-Dipolos commercial production begins


Saucito is one of our underground primary silver mines, along with the Saucito II expansion it is one of our key growth drivers.

  • 2009

    • Soledad-Dipolos construction commenced

    • Saucito construction commenced 

  • 2008

    • Corporate and administrative restructuring of Peñoles, separates precious metals business into the Fresnillo Group

    • IPO listing of Fresnillo plc on the London Stock Exchange 

    • Penmont acquires control of Noche Buena and drilling commenced

  • 2007

    • Herradura processing capacity increased from 25,000 to 33,000 tpd

    • Soledad-Dipolos drilling commenced

  • 2005

    • Ciénega mill capacity increased to 2,000 tpd

  • 2004

    • Fresnillo mill capacity increased from 4,500 to 7,000 tpd

  • 1998

    • Ciénega mill capacity increased from 900 to 1,500 tpd

    • Herradura commercial production begins


Whilst Ciénega has long been classified as a gold mine, it is also rich in silver resources and silver revenues have risen markedly in recent years

  • 1997

    • Herradura construction commenced

  • 1996

    • Peñoles acquires remaining 40% interest in Cia Fresnillo

  • 1995

    • Ciénega commercial production begins

  • 1992

    • Ciénega construction commenced

  • 1991

    • Herradura drilling commenced

  • 1987

    • Penmont joint venture with Newmont Mining Corporation formed

    • Ciénega drilling commenced

  • 1967

    • BAL Group becomes the controlling shareholder of Peñoles

  • 1961

    • Peñoles acquires 60% interest in Cia Fresnillo

  • 1960

    • A group of Mexican investors acquired control of Peñoles creating the first Mexican-controlled mining company

  • 1887

    • Peñoles was born