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Evolving

toward a sustainable future

2021 SUSTAINABLE DEVELOPMENT REPORT

Penoles
At Peñoles we are committed to generating value by providing essential resources in a
sustainable manner. In the first year of a new administration at Industrias Peñoles, and
in coordination with the new structure of Baluarte Minero, we are evolving not
only to achieve permanence in the future, but to thrive amidst uncertainty
and change for the benefit of our stakeholders. This transcendental
transformation has implied a deep reflection at all levels of the
organization, since it entails a process of cultural change
and a new way of doing things.

Evolving

to generate value

START

Grupo BAL is a cluster of state-of-the-art companies that incorporates a diversified group of businesses: Profuturo (pension funds), Grupo Nacional Provincial (insurance), Peñoles (mining, metallurgical, and chemical industries), Fresnillo (mining), Grupo Palacio de Hierro (department stores), TANE (jewelry), Valmex Soluciones Financieras (financial services), Valores Mexicanos (brokerage house), Crédito Afianzador (bonds), Compañía Agropecuaria Internacional (agricultural businesses), Médica Móvil (pre-hospital care), Instituto Tecnológico Autónomo de México (education), PetroBal (exploration and hydrocarbons production), and Energía Eléctrica BAL (power generation). In each of these, we strive to reach the higher percentile in our industry as regards profitability, and to create value to all stakeholders, offering our customers exceptional products and services, supporting the personal and professional advancement of our employees and contributing to the progress of Mexico.