Mexican miner Minera Autlán expects to begin groundwork on domestic infrastructure projects in Q1 2021 and witness an increase in steel exports to the US after the presidential elections. Last year, the Mexican government announced an infrastructure plan worth $42.9bn that include 147 projects, which will be developed through 2024.
The company’s sales fell by 10pc to 50,800mt of ferroalloys in Q3 2020, from 56,500mt in the prior year period, depicting the impact of the COVID-19 pandemic on the Mexican steel industry. During the period, demand for ferroalloys fell in both the domestic and global market. Autlán’s net sales dropped by 30.8pc to $79.3mn from $114.7mn in the same comparative period.
The miner posted a net loss of $10.8mn in Q3 2020, compared to a net profit of $6.4mn in Q3 2019. EBITDA declined to $17.9mn in Q3 2020 from $25.7mn in the same quarter last year.