Mexican judge clears $1.3 bn auction of AHMSA and Minosa assets

A federal judge in Mexico, Ruth Haggi Huerta García, authorized a new proposal to auction the assets of Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (Minosa) as a single productive unit. The decision, issued on 2 June 2026, modifies earlier bankruptcy filings and aims to preserve the companies’ operations and safeguard jobs. The court set a minimum reference price of $1,326 million (approximately $1.3 bn) for the combined sale, with $1,201 million attributed to AHMSA’s steel plants and $125 million to Minosa’s mining assets. The judge ordered the syndic to submit the final auction rules, an updated list of workers and labor‑claim amounts within three days, giving priority to workers’ claims under the constitution. Potential qualified bidders include Cargill, Banca Afirme, Pemex, Caterpillar, Unifin and Tubacero, which may use existing credits as payment. The auction is slated to open within 60 days, possibly by August, after a previous February auction failed to attract qualified participants. The move follows years of financial distress, liabilities exceeding 61 billion pesos, and corruption investigations involving former director Alonso Ancira. The federal government, represented by President Claudia Sheinbaum, emphasizes labor justice and the reactivation of the steel complex to protect thousands of jobs.