from dec 05 75% of penoles'' exportswent to US.......when silver was $5 bucks they could have very easily sigend longer term contracts. U can see from the Penoles news release I posted a couple days ago that if the US lost 75 % of Penoles' silver exports because of the strike it should have a major impact on the silver price.
I'll bet U Carlos Slim has more $$$ in Penoles' than Anonymous
Industrias Peñoles, S.A. de C.V.
Hoover's Profile Home > Library > Business > Hoover's Profiles Industrias Peñoles, S.A. de C.V. (Mexican:PE&OLES) Contact Information
Industrias Peñoles, S.A. de C.V.
Moliere No. 222, Colonia Polanco
11540 México, D.F., Mexico
Tel. +52-55-5279-3000
Fax +52-55-5279-3514
Type: Public
On the web: https://www.penoles.com.mx
Employees: 7,060
Employee growth: 3.2%
Industrias Peñoles really has a silver lining -- the company is one of the world's largest silver producers. Peñoles has proven and probable reserves of more than 430 million ounces of silver, some 4 million ounces of gold, 800 thousand tons of lead, and 2.6 million ounces of zinc. It is also involved in several mining joint ventures, as well as mining exploration projects in Peru. The company's Metals segment smelts lead, refines silver, and produces sulfuric acid and other smelting byproducts. Its Chemicals group produces such chemicals as sodium sulfate and ammonium sulfate. The US accounts for about 75% of the company's export sales. Peñoles is part of Mexican conglomerate Grupo BAL.
Key numbers for fiscal year ending December, 2005:
Sale: $1,971.9M
One year growth: 33.2%
Net income: $157.1M
Income growth: 60.5%
Officers:
Chairman: Alberto Baillères
President, CEO, and Director: Jaime Lomelín Guillén
EVP Finance and Information Systems: Mario Arreguín Frade
Competitors:
Barrick Gold
Dowa Holdings
Grupo México