Fresnillo plc (LSE: FRES) is a Mexican-based precious metals mining company incorporated in the United Kingdom and headquartered in Mexico City in Polanco, next door to the Palacio de Hierro department store. Fresnillo is the world's largest producer of silver from ore (primary silver) and Mexico's second-largest gold miner.^[3] The first Mexican firm to have its primary listing on the LSE,^[4] Fresnillo is a constituent of the FTSE 100 Index.

History[link]

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 on the same day.^[5]

Operations[link]

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 silver and 279,614 ounces of gold, as well as around 20 tons each of zinc and lead as by products from the three mines. Industrias Peñoles retained the rights to its primary base metals mines when Fresnillo was spun off.^[6] The company also has 21 active exploration projects located across the country,^[6] and has signalled plans to use the money raised in its IPO to expand into Peru and Chile.^[7]

References[link]

1. ^ ^{a b c} "Preliminary Results 2010". Fresnillo. http://www.fresnilloplc.com/investors/reports-and-presentations/production-reports/~/media/Files/F/Fresnillo/Attachments/reports-and-presentations/production-reports/Preliminary%20Announcement%20Final.pdf. Retrieved 24 March 2012. 
2. ^ Investor Frequently Asked Questions
3. ^ "Mexico's Industrias Penoles to spin off Fresnillo in London IPO". Forbes. 11 April 2008. http://www.forbes.com/afxnewslimited/feeds/afx/2008/04/11/afx4878774.html. Retrieved 21 September 2008. 
4. ^ Fleming, Sam (28 August 2008). "Mexican to make waves on the Footsie". Daily Mail (UK: This is Money). http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=451070&in_page_id=3. Retrieved 21 September 2008. 
5. ^ "Fresnillo IPO to raise US$900 million". Metals Place. 14 April 2008. http://metalsplace.com/news/articles/19118/fresnillo-ipo-to-raise-us900-million/. Retrieved 24 March 2012. 
6. ^ ^{a b} "Production volumes: annual". Fresnillo. http://www.fresnilloplc.com/IR_OI_PV_annual.html. Retrieved 21 September 2008. ^{[dead link]}
7. ^ Bream, Rebecca (9 May 2008). "Fresnillo suffers 6% fall during London debut". Financial Times. http://us.ft.com/ftgateway/superpage.ft?news_id=fto050920081757173271. Retrieved 21 September 2008. 

External links[link]

• Official site
• Google Finance profile

Companies portal

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Fresnillo
Official seal of Fresnillo Seal
Coordinates: 23°10′30″N 102°52′03″W / 23.175°N 102.8675°W / 23.175; -102.8675Coordinates: 23°10′30″N 102°52′03″W / 23.175°N 102.8675°W / 23.175; -102.8675
Country	Mexico
State	Zacatecas
Municipality	Fresnillo
Founded	September 2, 1554
Government
• Mayor	David Monreal Ávila
Area
• Municipality	4,900 km2 (1,910 sq mi)
Elevation	2,210 m (7,250 ft)
Population (2005)
• Total	110,892
• Municipality	196,538
• Demonym	Fresnillense
Time zone	CST (UTC-6)
Postal code	99000
Area code(s)	493
Website	www.fresnillo.gob.mx

Fresnillo /fres'nijo/ (2005 census pop. 110,892), founded in 1554 by Francisco de Ibarra, is the second largest city in Zacatecas state, north central Mexico. As a rail and highway junction, Fresnillo is the center of a rich mining area known especially for silver, and the location of one of the world's richest silver mines, the Mina Proaño or Fresnillo Mine, which belongs to the Peñoles mining company. It has a mining school, and agriculture (cereals, beans) and cattle raising are other important economic activities. Fresnillo is also the municipal seat of the municipality of the same name which surrounds it. The municipality had a population of 196,538 and an areal extent of 4,947 square kilometres (1,910 sq mi).

It is the location of religious pilgrimages to see the famous Santo Niño de Atocha ("Holy Child of Atocha"), a Roman Catholic devotional statue brought to Mexico from Spain.

History[link]

Between 1551 and 1552, Diego Fernández de Proaño embarked on several explorations in the Zacatecas region, searching for a legendary hill purported to contain great mineral wealth. He discovered a hill, which despite not matching the descriptions given, bore evidence of rich mineral deposits, which he named "Cerro de Proaño" ("Proaño's Hill"). He returned to the city of Zacatecas to report his findings to the Viceroy, but apparently there was not much interest in his discovery and Proaño's Hill was forgotten over the years.

A second expedition, headed by 15-year-old Francisco de Ibarra, arrived on September 2, 1554 at a place where there was a freshwater spring, in whose border was a "Pequeño Fresno" (small ash). They decided to spend the night, and Francisco de Ibarra wrote his name for the place in his daily journal: "Ojo de Agua del Fresnillo (spring of the small ash)".

In the early years after its foundation, the town suffered incursions by Guachichil Indians who were nomadic and bellicose. Due to the heavy losses suffered by the settlers in those early years, the Viceroy, Martín Enríquez de Almanza, ordered the construction of a presidio in the town. Boner Captain Rodrigo Río de Loza was assigned to lead the garrison of eight soldiers. The military outpost was built where the current municipal palace stands today. Among the first mayors of Fresnillo were Captain Diego Núñez de Miranda, Cristóbal Caldera and Juan de Avellaneda.

Between 1682 and 1757, the mines were worked constantly. There were several mines, mostly on the foothills of Proaño's Hill. In 1757, the mine shafts had reached fifty meters in depth and flooding began to be a major problem. The mines were abandoned as it was economically unviable to mitigate the flooding and the area went into an economic crisis. The mine owners lost their mines as a result of seizure by the Spanish Crown for failure to repay loans. The Crown named a new administrator for the mines, but they continued to lie idle.

The Coat of Arms of Fresnillo[link]

In the superior part of the shield is the Latin phrase: "Orat Atque Laborat Ab Urbe Condita", which means: "Since its Founding a City that Works and Prays." The lower part reads, "Real de Minas del Fresnillo (Royal Mine of Fresnillo)." In the center the horizontal bar reads: "2 de Septiembre de 1554."

The coat of arms is divided into three boxes: first in the left superior part, there appears the Virgin of Candlemas, Pattern of Fresnillo, which is identified by the candle in her right hand. In the box on the right superior part, there is a rodela or shield and the arms used by the natives and the Spaniards during the Conquest. In the inferior part (the third box) there appears a spring, in whose margin there is an Ash tree, and a depiction of the bottom of the Proaño Hill with some clouds, symbolizing the rainy month of September. "2 of September of 1554".

Plateros[link]

Fresnillo, Zacatecas is often connected with Plateros, a central church which attracts many religious followers to the area. The church was built in the late 1690s in commemoration of Spanish miners finding a miraculous silver crucifix. The crucifix is said to have appeared in a wooden crate without knowledge of its creation. Spiritual devotion and respect resulted in the cross-Atlantic travel of a statue of the Our Lady of Atocha. The statue has the Virgin Mary carrying an infant Jesus in her arms. This infant statue became known as the Holy Child of Atocha.

Many claim that miracles result from the devout prayer to this Holy Child. Those who truly believe that the Holy Child worked in their favor will often bring back a gift in gratitude. In 1883, a separate building was constructed to house the various gifts followers brought back to him.

Today, many families who have religious connections to this saint will travel far in pilgrimage and attend mass as they visit the shrine. The saint itself is said to be a Zacatecas iconic piece, as well as a guardian of miners.

Agriculture[link]

Agriculture in Fresnillo, Zacatecas

Agriculture is of great importance. The city is a great producer of various crops, including corn, pepper, tomato, among others. The neighboring towns and villages will focus on exporting its goods to the main city, as well as others. Economic sustainability is often connected to its agricultural success, along with silver mining.

Regional Fair of Fresnillo[link]

In commemoration of the discovery of the city in the month of September in 1954, the city is home to a large celebration which celebrates culture and the arts. People from all over the world come to Fresnillo to celebrate, bringing along traditions native to their home countries. Many will choose to participate in the folkloric dances and athletic competitions. In 2004, Fresnillo celebrated the 450th year of its establishment.

Sources[link]

• The Columbia Electronic Encyclopedia 2003
• Enciclopedia de Municipios del Estado de Zacatecas [1]
• INEGI Census Data, Enciclopedia de los Municipios de México
• Link to tables of population data from Census of 2005 INEGI: Instituto Nacional de Estadística, Geografía e Informática
• Zacatecas Enciclopedia de los Municipios de México
• Santo Nino de Atocha Historia del Santo Nino de Atocha

References[link]

External links[link]

Mexico portal

• Presidencia Municipal de Fresnillo Official website
• Pagina Social Web Social

v t e  State of Zacatecas Zacatecas, Zac. (capital) Municipalities and (municipal seats) Apozol (Apozol) Apulco (Apulco) Atolinga (Atolinga) Florencia de Benito Juárez Municipality (Florencia de Benito Juárez) Calera de Víctor Rosales Municipality (Víctor Rosales) Cañitas de Felipe Pescador (Cañitas de Felipe Pescador) Concepción del Oro (Concepción del Oro) Cuauhtémoc (San Pedro Piedra Gorda) Chalchihuites (Chalchihuites) El Plateado de Joaquín Amaro (El Plateado de Joaquín Amaro) El Salvador (El Salvador) Fresnillo (Fresnillo) Genaro Codina (Genaro Codina) General Enrique Estrada (General Enrique Estrada) General Francisco R Murguía (Nieves) General Pánfilo Natera (General Pánfilo Natera) Guadalupe (Guadalupe) Huanusco (Huanusco) Jalpa (Jalpa) Jerez de García Salinas (Jerez) Jiménez del Teul (Jiménez del Teul) Juan Aldama (Juan Aldama, Zacatecas) Juchipila (Juchipila) Loreto (Loreto) Luis Moya (Luis Moya, Zacatecas) Mazapil (Mazapil) Melchor Ocampo (Melchor Ocampo) Mezquital del Oro (Mezquital del Oro) Miguel Auza (Miguel Auza, Zacatecas) Momax (Momax) Monte Escobedo (Monte Escobedo) Morelos (Morelos) Moyahua de Estrada (Moyahua de Estrada) Nochistlán de Mejía (Nochistlán de Mejía) Noria de Ángeles (Noria de Ángeles) Ojocaliente (Ojocaliente) Pánuco (Pánuco) Pinos (Pinos) Río Grande (Río Grande) Santa María de la Paz (Santa María de la Paz) Saín Alto (Saín Alto) Sombrerete (Sombrerete) Susticacán (Susticacán) Tabasco (Tabasco) Tepechitlán (Tepechitlán) Tepetongo (Tepetongo) Teúl de González Ortega (Teúl de González Ortega) Tlaltenango de Sánchez Román Trancoso (Trancoso) Trinidad García de la Cadena (Trinidad García de la Cadena) (Valparaíso) (Vetagrande) (Villa de Cos) (Villa García) Villa González Ortega Municipality (Villa González Ortega) (Villa Hidalgo) (Villanueva) (Zacatecas)