Mexican mining firm Compañía Minera Autlán expects national infrastructure projects slated to begin this year will increase ferroalloys and steel demand.
Last year, the Mexican government announced an infrastructure plan worth 859bn peso ($42.9bn) that includes 147 projects, which will be developed through 2024.
However, there are now fears that the Covid-19 outbreak in China could disrupt the construction industry, which would affect the mining and steel industries, Autlán said in a statement.
The company intends to double its sales over the next three to five years by increasing operating capacities and expanding manganese ore and precious metal reserves.
The company’s sales increased by 2pc to 420,128mt in 2019, thanks to manganese nodule exports and gold sales rising.
Autlán reported a $12mn, net loss, an operating income of $22.7mn, and an EBITDA of $79.3mn in 2019.