"Las Encinas" is engaged on the extraction of iron, has two open pit mines: Aquila, in the state of Michoacan and Cerro Nahuatl in Cuauhtemoc, Colima, and an underground mine in the town of Pihuamo, Jalisco. As well as a pelletizing plant in the town of Alzada, in Cuauhtemoc, Colima; Peña Colorada (jointly owned 50-50 percent of Arcelor Mittal) is composed of an open pit mine in Minatitlan, Colima and a pelletizing plant in Manzanillo, Colima. It was founded in 1951 and is a Ternium subsidiary
