Fresnillo plc

Infobox Company
company_name = Fresnillo plc
company_
company_type = Public (lse|FRES)
foundation = 2008
location = London, UK (corporate), Mexico City, Mexico (operational)
key_people = Alberto Bailleres (Chairman of the board), Jaime Lomelín (CEO)
industry = Mining
products = Precious metals
revenue = US $647.9 million (2007)cite web |url=http://www.fresnilloplc.com/IR_FI_AN_income.html |title=Combined income statement 2007 |accessdate=2008-09-21 |publisher=Fresnillo]
net_income = profit US $161.0 million (2007)
num_employees= 2,800 (2008)cite web |url=http://www.fresnilloplc.com/disclaimer/FRESNILLO_INTERIM2008_LOW.pdf |title=Interim Report 2008 |accessdate=2008-09-21 |publisher=Fresnillo]
parent = Industrias Peñoles
homepage = [http://www.fresnilloplc.com www.fresnilloplc.com]
intl = yes

Fresnillo plc (lse|FRES) is a Mexican-based 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. [cite news|url=http://www.forbes.com/afxnewslimited/feeds/afx/2008/04/11/afx4878774.html|title=Mexico's Industrias Penoles to spin off Fresnillo in London IPO|date=11 April 2008|work=AFX News|publisher=Forbes|accessdate=2008-09-21] The first Mexican firm to have its primary listing on the LSE, [cite news|url=http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=451070&in_page_id=3|title=Mexican to make waves on the Footsie|last=Fleming|first=Sam|date=28 August 2008|work=Daily Mail|publisher=This is Money|accessdate=2008-09-21] Fresnillo joined the FTSE 100 Index on 22 September 2008.

History

Formerly an 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.

Operations

The company operates three gold and silver mines in Mexico: the largest in terms of silver output is located near the city of Fresnillo in Zacatecas, with the other mines at Cienega in Durango and Herradura in Sonora. In 2007 Fresnillo produced 34.3 million ounces of gold and 279,000 ounces of silver, as well as around 20 tons each of zinc and lead.cite web|url=http://www.fresnilloplc.com/IR_OI_PV_annual.html|title=Production volumes: annual|publisher=Fresnillo|accessdate=2008-09-21] The company also has 21 active exploration projects located across the country, and has signalled plans to use the money raised in its IPO to expand into Peru and Chile. [cite news|url=http://us.ft.com/ftgateway/superpage.ft?news_id=fto050920081757173271|title=Fresnillo suffers 6% fall during London debut|last=Bream|first=Rebecca|date=9 May 2008|work=Financial Times|accessdate=2008-09-21]

References

External links

* [http://www.fresnilloplc.com Official site]
* [http://finance.google.com/finance?q=LON:FRES Google Finance profile]