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Autlán diversifies into precious metals with Metallōrum buy, outlines CapEx plan

Mexico-based manganese and ferroalloys supplier Compañía Minera Autlán SAB de CV moved to fully acquire Metallorum Holding, SAPI de CV, according to a March 8 release.

Autlán already holds a minority interest in Metallorum, which owns several precious metals concessions throughout Mexico and operates a number of gold mines in the country's Sonora state.

Under the terms, Autlán could acquire the remaining equity in exchange for cash or shares. The transaction is expected to close in the second quarter.

In a separate same-day release, Autlán said it plans to invest about US$25 million this year to boost its manganese ore and ferroalloys production.

The company expects to increase its installed ferroalloys capacity by 7% over 2017 levels by operating efficiency projects and using advanced technology to strengthen its furnaces.

Autlán, meanwhile, seeks to make a substantial investment in exploration, planning and mining as well as improve the life of its mine and maximize production. It also plans to boost its output of manganese nodules.