Newmont’s Peñasquito Reports Theft of 240t of Ore

Newmont’s Peñasquito mine reported the robbery of over 240t of gold-silver-lead ore while it was being transported through the Zacatecas-Saltillo federal highway. This incident highlights the ongoing challenges of insecurity in the mining sector, which can result in higher costs and pose risks to the safety of personnel.

On Oct. 31, 2024, a convoy of six mining trucks carrying precious metal concentrates from the Peñasquito mine in Zacatecas was assaulted by organized criminals, resulting in the theft of at least 240t of ore. According to local media, the criminals overpowered two security guards and six drivers transporting the concentrates. Representatives from the National Guard, Army, Attorney General's Office, and Zacatecas state’s public security department confirmed the incident.

Newmont Peñasquito issued a statement acknowledging the theft, highlighting that local and federal security forces promptly intervened, leading to the partial recovery of the stolen goods. The statement also emphasized that no injuries occurred during the incident, and all affected personnel were confirmed safe. 

The operation reportedly demonstrated a high level of sophistication, according to Eduardo Ordóñez, Independent Political Risk and Security Consultant. Ordóñez noted that the criminals neutralized the convoy's security systems and transferred the cabins to other trailers to evade satellite tracking, indicating significant logistical and organizational capabilities, as reported by BNAmericas.

General Juan Manríquez, Zacatecas Coordinator, National Guard, reported a swift response following the incident. Agents from the army and state preventive police intervened, locating the trucks and confirming the safety of the drivers within an hour. The two security guards, stationed at the front and rear of the convoy, were released shortly after the incident.

According to La Jornada, following the robbery, the National Guard, army, and state police conducted an extensive search around the Peñasquito mine and Orla Mining's Camino Rojo deposit in Mazapil, Zacatecas, over the weekend. Further details regarding the value of the stolen concentrates have not been disclosed.

When questioned about the robbery, President Claudia Sheinbaum deferred details to the security cabinet but highlighted Zacatecas Governor David Monreal’s progress in security. She noted that his strategy, aligned with the federal government’s, has helped reduce the state’s daily homicide rate from five in 2021 to under two in 2024, as reported by MBN. 

Zacatecas Remains Insecure 

Despite Sheinbaum's data on homicide reduction, insecurity remains a significant concern for Zacatecas residents. According to INEGI’s National Survey on Urban Public Security (ENSU), 87.9% of Fresnillo residents over 18 years old felt unsafe in September 2024, placing it among the cities with the highest insecurity levels, alongside Tapachula, Naucalpan de Juarez, and Ecatepec de Morelos. Similarly, Zacatecas City had a high insecurity perception rate of 78.5%, a slight decrease from 84.7% in June 2024.

During Mexico Mining Forum 2024 PDAC, Jorge Tello-Peón, Director, Madison Intelligence Mexico, said states where mining activities take place like Chihuahua, Zacatecas, Guanajuato, Guerrero, Sonora, and Michoacan, are among the Top 10 most violent. 

Mining insiders consider it crucial to address insecurity challenges, as this factor raises operational costs by over 20%, and results in a 3% increase in the final cost of minerals, as reported by MBN.