Fresnillo /fres'nijo/ (2005 census pop. 110,892), founded in 1554 by Francisco de Ibarra, is the second largest city in Zacatecas state, north central Mexico. 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. It has a mining school, and agriculture (cereals, beans) and cattle raising are other important economic activities. 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).