Historic Profit-Sharing of 1.5 Million Pesos for Each Worker at Peñasquito, Mexico’s Second-Largest Mine - Abolish Capital!
This article by Jared Laureles and Jessica Xantomila originally appeared in the
June 5, 2026 edition of La Jornada
[https://www.jornada.com.mx/noticia/2026/06/05/politica/utilidades-historicas-de-15-mdp-a-cada-trabajador-de-mina-penasquito-la-segunda-mas-grande-de-mexico]**,
Mexico’s premier left-wing daily newspaper. As a result of negotiations between
the National Mining Union—led by Napoleón Gómez Urrutia—and the U.S. company
Newmont, for the first time, each of the roughly 2,000 workers at the Peñasquito
deposit will receive a historic sum of more than one and a half million pesos in
profit-sharing.
This “unprecedented victory” stems from the fact that the union leader got the
company—owner of the open-pit gold, silver, and lead mine in Mazapil,
Zacatecas—to honor the full payment of 10 percent of its earnings to the workers
of Section 304, as established by the Constitution, instead of the three months’
salary that companies commonly try to impose on workers.
Hence the importance of this agreement, which distributed more than 3.358
billion pesos among some 2,000 workers, representing the most significant
Workers’ Profit Participation (PTU) payment ever recorded in the country’s
mining industry.
On the matter, Gómez Urrutia noted that while most labor organizations in the
country accept “employer-imposed caps or distributions calculated on reduced
bases,” the National Mining Union has driven a new labor culture: “whoever
generates wealth through their daily effort has the right to receive a fair
share of the profits.”
The national leader highlighted the dedication and commitment shown daily by
miners in Zacatecas and reiterated his pledge to ensure that every negotiation
guarantees “the well-being, justice, and prosperity of every worker.” With this
achievement, he added, “it is proven that our union’s priority is a better
quality of life for the working class and their families.”
In response, members of Section 304 expressed their recognition of his
commitment, solidarity, and trust, noting that “he has always watched out” for
better working conditions. “This PTU payment is not just money: it is dignity,
our own house, education for our children, and a future of peace and justice,”
the workers emphasized.
According to information from Newmont, Peñasquito is the fifth-largest silver
mine in the world and the second-largest in Mexico. Since 2019, it has produced
between 1.4 and 1.8 million gold-equivalent ounces per year.
The National Mining Union insisted that this case “is conclusive proof” that
social dialogue, unity, and union resolve produce extraordinary results, as also
happened at the La Colorada mine, also located in Zacatecas.
At the latter, after four days of work stoppage and extensive collective
bargaining, Gómez Urrutia agreed with the Canadian company Pan American Silver
on a total payment of 135 million pesos in PTU, benefiting more than a thousand
miners affiliated with Section 343 of the union. The post Historic
Profit-Sharing of 1.5 Million Pesos for Each Worker at Peñasquito, Mexico’s
Second-Largest Mine
[https://mexicosolidarity.com/historic-profit-sharing-of-1-5-million-pesos-for-each-worker-at-penasquito-mexicos-second-largest-mine/]
appeared first on Mexico Solidarity Media [https://mexicosolidarity.com/]. —
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