Mexico's Second District Court for Commercial Insolvency has confirmed that the auction of steelmaker Altos Hornos de México (AHMSA) and mining company Minera del Norte (MINOSA) remains scheduled for September 25, 2026, with six qualified bidders interested in acquiring the industrial complex, according to local media reports.
Minimum price set at 85 percent of valuation
The minimum reference price stands at approximately $1.127 billion, equivalent to 85 percent of the complex's $1.326 billion valuation. Both companies will be offered as a single, indivisible productive unit, including their assets, rights, concessions and contracts, with partial bids excluded.
Guarantee deadline extended as creditors approve sale
Under its September 11 ruling, the court granted bidders three additional business days to submit their bid guarantees, while secured creditors and guarantee-trust trustees submitted the consent letters required for the integrated sale. The auction remains subject to timely submission of the guarantees.
The required guarantee amounts to approximately $56.37 million, or five percent of the minimum reference price, with secured creditors exempt. The successful buyer must submit an industrial and workforce reactivation plan within five months of the award.
