Industrias Penoles, S.A. de C.V. and its subsidiaries make up one of Mexico's largest industrial conglomerates. Since its founding in 1887, this group has been engaged in the sustainable exploitation of non-renewable natural resources. Penoles is an integral part of Grupo BAL, a private diversified group made up of independent Mexican companies ranging from mining to insurance to retail. Penoles' productive operations are currently located in Mexico, where it operates the worlds's richest silver mine. (Fresnillo), the world's fourth largest metallurgical complex in terms of the value of its production.

These operations make Penoles the world's largest producer of refined silver, metallic bismuth and sodium sulphate and a leader in Latin america in refined gold, lead and zinc. Penoles has an operation divided between non ferrous metals, smelting and refining. The company's shares trade on the Mexican stock Exchange since 1968 under the ticker PE&OLES.

Penoles and Grupo dominate the mining sector with 70 percent of total investment according to an official of the Mexican Government, with Penoles holding 30 percent and Grupo holding about 40 percent. Neither company has shown little interest in forming joint ventures with foreign companies.