Company Announcements
August 19, 2026
Auction of Ahmsa assets set for late September
Written by Laura Miller
Mexico’s bankruptcy court has set the auction date for the remaining assets of Altos Hornos de México (Ahmsa).
Ahmsa’s flat-rolled steelmaking assets and its Minera del Norte (Minosa) mining assets in northern Mexico will be sold together as a single productive “as-is” unit on the morning of Sept. 25, 2026. The auction will take place at the Federal Judiciary headquarters building in Mexico City, according to Ahmsa’s call for bids.
Ahmsa’s appraised value is $1.33 billion. The reference minimum value is just under $1.13 billion.
Bids below the reference minimum value can still be submitted and considered in the auction. However, a bid below the reference value does not oblige secured creditors to release their security. In that case, the trustee must seek an agreement between the bidders and creditors. If an agreement is not reached, the auction is declared unsuccessful.
Partial bids that exclude assets or essential components are not permitted under the auction rules.
In addition, the winning bidder must submit an industrial reactivation plan within five months of the auction.
Background
Ahmsa’s bankruptcy journey has been slow and drawn-out. Burdened by debts to creditors, the company ceased steelmaking and mining operations in December 2022. It officially filed for bankruptcy in early 2023.
The condition of what remains of Ahmsa’s assets is unknown to the public. Beyond rumors of rampant looting, some assets have reportedly fallen into disrepair.
An earlier auction for the idle assets was held back in February. But because there was only one bidder and it failed to provide bid bond, the auction was declared void.
