Mexican ferroalloys and manganese producer Minera Autlan said it expects to save $1.2 million in electricity in 2017.
The company said this week in a filing at the country’s stock exchange Bolsa Mexicana de Valores (BMV) it is likely to save $460,000 in electricity by H2 this year.
Four months ago, Minera Autlan reached an electricity supply contract with Spanish supplier Iberdrola. The agreement will help Minera Autlan buy electricity at discounted prices. The deal is valid for a period of three years, which can then be renewed on a yearly basis.
The Mexican ferroalloys producer said electricity is one of its main costs.
“This strategy of diversifying our energy sources will allow us to advance … [as] one of the global ferroalloy producers with the lowest costs, and will improve Autlan’s profitability in the mid-term,” the company said.