Aerial view of Peñasquito open-pit mine, Zacatecas

Historic Profit-Sharing of 1.5 Million Pesos for Each Worker at Peñasquito, Mexico’s Second-Largest Mine

ByJared Laureles and Jessica Xantomila

This article by Jared Laureles and Jessica Xantomila originally appeared in the June 5, 2026 edition of La Jornada, 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.