Minera Autlán announced planned investments in gold, manganese and ferroalloy operations in Mexico.
Autlán said it plans to diversify into gold through an acquisition of Mexican privately owned miner Metallōrum, which has the Columbia mine in Sonora state.
No information about the value of the deal was given in a filing on the Mexican stock exchange website.
The takeover is expected to boost Autlán's revenues by 15% and cash flow by 20%, based on 2017 financial results of both companies. Autlán already holds a minority stake in Metallōrum.
Production at the Columbia mine is currently ramping up. Metallōrum aims to lift output to 85,000oz/y gold at the mine, from its 57,000oz target for 2017, according to information on the company's website.
Autlán also announced investments aimed at increasing ferroalloy capacity by 15% from 2017 levels over three years, including 7% this year.
This will be achieved through efficiency improvements and investments in technology, the company said in a separate filing.
The company also plans to expand manganese capacity through mining and processing improvements and exploration.
Autlán has set a 2018 budget of US$25mn for the ferroalloy and manganese improvements.
The company announced an agreement to acquire the remaining minority interest in its hydro energy subsidiary Compañia de Energía Mexicana (CEM) in December.