MEXICO CITY Mexicos Altos Hornos de Mexico SAB de CV (Ahmsa) has signed an agreement with Chinas Xingxing Hanfang Mining Investment Co. Ltd. for the long-term supply of iron ore.
Under the terms of the deal, Ahmsa mining subsidiary Minera del Norte SA de CV (Minosa) will provide 10 million tonnes of iron ore concentrates annually for 20 years, the steelmaker said in an April 9 filing with Mexicos stock exchange.
The deal was signed by Ahmsa chairman Alonso Ancira Elizondo and Xingxing Hanfang chief executive officer Liu Mingzhong.
Mexican president Enrique Peña Nieto took part in the signing ceremony during his trip to China this week.
Xingxing Hanfang is part of Xingxing Cathay International Group, which has businesses in the mining, steel and automotive sectors, among others, according to Monclova-based Ahmsa, Mexicos largest integrated steelmaker.
A version of this article was first published by AMM sister publication Steel First.