In October 2000, in partnership with Dowa Mining and Sumitomo Corporation, the Rey de Plata mine (now Capela) commenced operations with a milling capacity of 360,000 tons per year. Peñoles held a 51% stake in this operation. Because of a steep fall in the price of zinc eroded shareholders’ return on investment, the decision was made at the end of 2001 to suspend operation of the mine.
Peñoles acquired the minority interest in December 2004, and in 2008 drilling work resumed. In 2011, an initial estimate of mineral resources was issued at 18.8 million tons with 15% zinc equivalent, and in 2012 the construction of the new mining unit was approved by the Board of Directors.

Exploration efforts in 2013 increased mineral reserves to 25.2 million tons of ore with 15.7% zinc equivalent, with a promising economic performance. The mining unit was finally commissioned in the first quarter of 2020.

Key Information

  • Location: Teloloapan, Guerrero
  • Ownership: 100% Peñoles
  • In operation: 2020-to date
  • Facilities: Underground mine and beneficiation plant
  • Production: Polymetallic unit that produces zinc, lead and copper concentrates
  • Type of deposit: Volcanogenic
  • Installed capacity: 1.4 million tons/year of milled ore*
  • Used Capacity: 82%*
  • Reserves: 20.8 million tons of ore*
  • Mine life: 14 years*
  • Employees: 652*

* Figures to December 2023

Production in 2023

1,216 kton

Ore milled

-6.6% with respect to the previous year

14,420 oz


-37.7% with respect to the previous year

2,234 koz


-13.9% with respect to the previous year

3,411 ton


+2.3% with respect to the previous year

26,691 ton


-1.3% with respect to the previous year

2,467 ton


-26.9% with respect to the previous year
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