Image credits: Markus Spiske
News Article

Sixteen Mining Companies Ranked in Anti-Corruption Index

By Fernando Mares | Thu, 06/30/2022 - 18:19

Sixteen mining companies were listed on the Corporate Integrity 500 Index (IC500), issued by Mexicans Against Corruption and Impunity (MCCI). Some Mexican companies stand out, reaching some of the highest scores in the mining sector, which could boost the industry’s public perception.

After MCCI evaluated 500 companies from industries such as banking, infrastructure and food, among other sectors, Mexican companies represented 58 of those listed in the top 100, dominating the top 10 entirely. Overall, sixteen mining companies were listed in the top 500.
The best-scored mining company was Industrias Peñoles, with a score of 100 out of 100, followed by Fresnillo, which scored the same. Both companies maintained their score from 2021’s index. Furthermore, Americas Mining Corporation ranked 31st, with a score of 98 points, having climbed 153 positions. 

Alamos Gold was the only foreign mining company in the top 100. The Canada-based company ranked 74th with a score of 94.1 points. Another Canadian company followed the company: Agnico Eagle, which ranked 116th and scored 92.2 points. 

Coeur Mining, from the US, ranked 183rd with a score of 88.2. Pan American Silver reached place 214 and scored 86.3 points. Nevertheless, it dropped 154 places, sharing the ranking with Great Panther. Minera Cuzcatlán ranked 256th, followed by Argonaut Gold in 257th place, with 84.3 points after dropping 41 positions. 

Newmont Goldcorp plummeted the most on the list with 221 places. Nevertheless, the company still ranked at a respectable 281. Capstone shared this position, dropping 17 spots. Aranzazu-Aura Minerals ranked 281st. 

The worst-performing company in terms of position was the Mexico-based Minera Frisco, which ranked 389th. The company reached a score of 62.7 and fell 173 places. Minera Media Luna ranked slightly higher on place 336, as did First Majestic on place 303. 

IC500 is the result of a joint effort from MCCI and Grupo Expansión to evaluate the integrity and anti-corruption policies of companies, as well as their ethics and conduct codes. The list includes the 500 most important companies in Mexico. MCCI started the IC500 in 2017, aiming to highlight the commitment of companies regarding anti-corruption practices.

The data used in this article was sourced from:  
Photo by:   Markus Spiske
Fernando Mares Fernando Mares Junior Journalist and Industry Analyst