Ejido.el.bajio: “For the fourth year we attend the Annual Assembly of Shareholders of #FresnilloPLC in London to reiterate to shareholders that the company lies in its reports, evades justice, owes us more than 13 billion pesos, that the board of directors is aware of everything and tells them nothing.”
TechStock² reports: “Fresnillo PLC (LON:FRES, OTC:FNLPF) has gone from sleepy precious‑metals stock to market rocket in 2025. The London‑listed miner, the world’s largest primary silver producer and a major gold producer in Mexico, has seen its share price more than triple this year as gold and silver prices hit record levels and the company delivered a surge in profits and cash flow.”
That article adds: “Fresnillo’s 2024 results, released in March 2025, marked the turning of the tide: Profit before tax jumped from $114.0m in 2023 to $743.9m in 2024 — a 552% increase, driven by higher gross profit and lower exploration and admin spend.”
Fresnillo in Mexico
TechStock² further notes: “Fresnillo has long been embroiled in a dispute with the Ejido El Bajío agrarian community in Sonora, linked to the Soledad‑Dipolos gold mine, where operations were halted in 2013 after a court ordered the company to vacate land the court said belonged to the ejido.”
It adds: “NGOs and protection groups such as Peace Brigades International have highlighted the case as an example of human‑rights and environmental risk, pointing to community members allegedly killed or threatened over the years of conflict (without establishing direct legal responsibility for the company).”
And it comments: “The case is likely to keep Fresnillo under ESG and reputational scrutiny in the UK and Mexico.”
Fresnillo in Canada
The TechStock² article also highlights: “The most significant strategic development in 2025 is Fresnillo’s move beyond Mexico for the first time. On 31 October 2025, Fresnillo announced a cash offer of about $560m (C$780m) to acquire Probe Gold Inc., a Canadian gold developer listed on the TSX.”
The Toronto-based Probe Gold Inc. lists three projects on its website: Novador Project, Detour Gold Quebec, and Other Val-d’Or East Properties.
Commenting on the Fresnillo purchase, Probe Gold notes: “Subject to the various approvals required, the Transaction is expected to close in Q1 2026.”
Accompaniment
Peace Brigades International has provided security and advocacy support to members of the Ejido El Bajío due to the ongoing threats they face.
The Peace Brigades International team in the United Kingdom highlight in their report The Case for Change: Why human rights defenders need a UK law on mandatory due diligence (November 2024): “Minera Penmont operated the Soledad-Dipolos open-pit gold mine located in the territory of the El Bajío Ejido in Mexico, between 2010 and 2013. When mining exploration began on communal lands, local communities began to defend their rights. Agrarian Courts have ruled that Penmont were operating on the land illegally without the community’s permission, ordering Penmont to leave the land and compensate the residents. However, land and environmental defenders calling for accountability have faced a series of reprisals including arbitrary detention, criminalisation, and killings. Minera Penmont is a subsidiary of Fresnillo PLC, a UK-incorporated company listed on the London Stock Exchange.”
For more about the struggle of the Ejido El Bajío, see their website and their Instagram, Facebook and X social media accounts.
Further reading: PBI-Mexico accompanied Ejido El Bajio challenges Fresnillo PLC at annual shareholders meeting in London, UK (PBI-Canada article, June 4, 2025).
