Mexican manganese and ferroalloys producer Minera Autlan went from a $509,000 net profit in Q2 2015 to a $1.35 million net loss in Q2 this year, the company said, attributing the loss to decreased manganese and ferroalloys prices in the global market.
The company said that a $1.7 million deferred tax provision also weighed on its results for the quarter.
Net revenues in Q2 totaled $60.8 million, 11 percent down, year-on-year, due to price declines. Revenues at the company’s ferroalloys division in Q2 was $63 million. The mining and energy divisions posted $69 million and $48 million in revenues in Q2, respectively.
Minera Autlan said cost of sales in Q2 rose to $51.3 million from $53.8 million in Q2 2015.