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Fresnillo is a city in north central Mexico, founded in 1554 by Francisco de Ibarra. It is the second largest city in Zacatecas state and the seat of Fresnillo municipality. As a rail and highway junction, Fresnillo is the center of a rich mining area known especially for silver, and the location of one of the world's richest silver mines, the Mina Proaño or Fresnillo Mine, which belongs to the Peñoles mining company. Other important economic activities include agriculture, cattle raising, and a mining school. Fresnillo is also the municipal seat of the municipality of the same name which surrounds it. The municipality had a population of 196,538 and an areal extent of 4,947 square kilometres (1,910 sq mi).