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Grupo México, S.A.B. de C.V. engages in copper production, freight transportation, and infrastructure businesses worldwide. The company operates through the Mining, Transportation, and Infrastructure divisions. The Mining division explores copper, silver, molybdenum, zinc, sulfuric acid, gold, and selenium. It owns interests in 15 underground and open pit mines, and 8 exploration projects in Mexico, Peru, the United States, Argentina, Chile, Ecuador, and Spain.
The Transportation division offers railroad transportation services, including general hauling and intermodal freight services by railroad; passenger transportation services; and auxiliary terminal management and intra-terminal hauling services. This division provides railroad services for the agriculture, automotive, cement, energy, intermodal, metals and minerals, industrial products, and chemical and fertilizer sectors.
It operates a railroad network of 11,131 km across 24 states in Mexico. The Infrastructure division offers land and ocean drilling services; and engineering services. It also generates energy through a combined cycle plant and wind farm; and constructs and operates the Salamanca-León highway and Silao Bypass. Grupo México, S.A.B. de C.V. was founded in 1890 and is based in Mexico City, Mexico.
The company was founded by Raúl Antonio Escobedo and Larrea Mota Velasco in 1978. After the government of Carlos Salinas declared the state mining company bankrupt, Larrea purchased key Mexican copper mines in Cananea and Nacozari. He also purchased numerous other mining sites, including coal mines in the state of Coahuila.
By 2000, Grupo México was responsible for 87.5 percent of Mexico's copper production and is the world's third-largest copper producer. Grupo México has been in continual conflict with Local 65, the Cananea branch of the Mexican Mine Workers' Union. During miners' strikes in January 2003 and October 2004, Grupo México responded with threats to close the Cananea mines.
As well, that year, Grupo México purchased a controlling interest in the Southern Peru Copper Corporation. Grupo Mexico acquired a 54.2% equity interest in Southern Peru Copper Corporation from ASARCO LLC, a mining company operating in the United States. The SPCC equity sale is subject to litigation between Grupo Mexico and ASARCO pending in the U.S. District Court for the Southern District of Texas under District Court Judge Andrew Hanen.
As of September 2009, ASARCO was the focus of a bidding war that began in May 2008 between its own parent company Grupo México and India-based Sterlite Industries. On August 31, 2009, U.S. Bankruptcy Judge Richard Schmidt recommended that U.S. District Judge Andrew Hanen accept Grupo México's $2.5 billion bid for ASARCO as it prepares to come out of bankruptcy.
“To meet the needs of our markets through large-scale and long-term projects, staying on the cutting-edge in technology, and always committed to our people, the environment, our values and our social responsibility, maximizing the generation of value for our investors.”
“To be a world leader in efficiency and profitability in our areas of business, prioritizing people and their overall development and guaranteeing the sustainability of our operations.”
