The Peñasquito Mine, located in the northeastern corner of Zacatecas State, Mexico, stands as one of the largest polymetallic open-pit mines in the country and the world, being the fifth largest silver mine globally and the second largest in Mexico. It is wholly owned and operated by Newmont Corporation through its subsidiary Minera Peñasquito S.A. de C.V. The mine primarily produces gold, silver, lead, and zinc, harnessing significant reserves that have cemented its major role in the mining sector.
Peñasquito officially began commercial operations in 2010, following a development phase that started with exploration in 1992, with major discoveries made by Western Silver in the early 2000s. The mine reached full production capacity by 2011 after a significant expansion that involved the construction of two separate processing facilities for oxide and sulfide ores. It is composed chiefly of two open pits, Peñasco and Chile Colorado, where the ore is sourced from polymetallic diatreme breccias known as the Peñasco and Brecha Azul pipes.
Geologically, the Peñasquito deposit lies within the Mexico Geosyncline, characterized by a thick marine sedimentary sequence from Jurassic and Cretaceous periods. The ore bodies are largely hosted in breccia pipes surrounded by lower grade disseminated mineralization including sphalerite, galena, and sulphosalts containing both gold and silver.
Mining operations involve conventional truck-and-shovel methods for the open pits, with ore processing using crushing, milling, and flotation techniques. Sulfide ore undergoes processing in a facility with a design capacity of approximately 130,000 tonnes per day, producing lead and zinc concentrates along with gold and silver bearing materials. The plant infrastructure includes a gyratory crusher, SAG mill, ball mills, and flotation circuits.
In terms of production scale, Peñasquito annually produces around 566,000 ounces of gold, 29.7 million ounces of silver, 149 million pounds of lead, and 377 million pounds of zinc, highlighting its importance as a polymetallic source for multiple metals. The mine supports significant economic activity in the region and is critical for Newmont’s metals portfolio.
Reserves estimated at Peñasquito as of the latest available data include approximately 15.69 million ounces of gold, 911.8 million ounces of silver, 2.63 million tonnes of lead, and 6.3 million tonnes of zinc. This scale underlines the mine’s substantial lifespan and ongoing contribution to the mining sector in Mexico.
Overall, Peñasquito exemplifies a major large-scale mining operation combining significant metal output with advanced processing infrastructure and strategic importance in Mexico’s mining industry. Its polymetallic nature and open-pit design make it a critical asset in the global gold, silver, lead, and zinc markets.
An aerial image also shows its expansive open-pit structure with multiple terraced levels and a notable tailings or water management facility within an arid landscape, underscoring the mine’s large footprint and engineering complexity.
